【Barrick Mining Corporation: Q1 Gold Production Reaches 758,000 Ounces, Copper Production Increases to 44,000 mt】On May 7 (Wednesday), Barrick Mining Corporation announced its Q1 performance. The company had a solid start to the fiscal year, making significant progress in its long-term strategy and advancing its gold and copper asset portfolios. The company reported that its Q1 gold production reached 758,000 ounces, at the high end of the guidance range of 700,000-750,000 ounces. Copper production increased to 44,000 mt due to cost improvements. Despite ongoing expansion work at Pueblo Viejo and planned maintenance at Nevada Gold Mines, the average realized gold price for the quarter was US$2,898 per ounce, up from US$2,657 in the previous quarter and a 40% increase year-over-year, supporting higher profit margins.

On May 7 (Wednesday), Goldman Sachs raised its quarterly copper price forecast, citing easing trade tensions and resilient copper demand, which are expected to continue supporting copper prices in the coming months.

[SMM Morning Meeting Summary: US Continues to Pause Interest Rate Cut, Copper Prices Suppressed] On May 7, spot premiums for SMM #1 copper cathode against the front-month 2505 contract were reported at a range of RMB 240/mt to RMB 280/mt, with an average premium of RMB 260/mt, down RMB 25/mt MoM. Currently, the open interest of the front-month SHFE copper contract corresponds to a delivery volume nearly 10 times that of the existing futures warrants. The market needs to be vigilant about the risk of further widening of the price spread between futures contracts. It is expected that under the influence of the price spread between futures contracts tomorrow, spot premiums will come under some pressure...