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Happy Thursday! Today we examine why gold recently lost a bit of momentum, the boardroom drama at Vale, BHP’s copper production and more.

Also, you can find the latest in Benzinga’s mining coverage here.

And, if you work in the mining sector and are interested in working with Benzinga, you can get in touch at [email protected].

TOP STORY

Gold Rally Loses Steam As Treasury Yields Stabilize, Dollar Rebounds: 6 Miner Stocks See Declines On Wednesday

Briefly: Gold has lost momentum as U.S. Treasury yields stabilize and the dollar rebounds.

The Dollar: The dollar's recent surge, driven by positive catalysts, appears to be fading, prompting traders to take profits and reduce exposure to gold.

Treasury Yields: As the Federal Reserve’s rate cut expectations remained largely unchanged, Treasury yields stabilized,

What It Means: The dip in gold prices led to a more significant decline in gold mining exchange traded funds.

Click here to read more.

ZINGERS

Alamos Gold (NYSE: AGI) is advancing toward producing a million ounces of the precious metal per year.

Volt Lithium (OTC: VLTLF) has announced the deployment and installation of its first Field Unit in the Permian Basin in Texas.

BHP Group’s (NYSE: BHP) copper production grew 9% for the second consecutive year, reaching 1.9 million tons in FY 2024.

DIGGING IN

Vale Selects CFO Gustavo Pimenta As New CEO, Ending Turbulent Succession Process

Briefly: Iron ore miner Vale has selected CFO Gustavo Pimenta as its new CEO, succeeding Eduardo Bartolomeo.

The Resume: Pimenta, who has served as Vale's CFO since 2021, brings over 20 years of experience in the financial, energy, and mining sectors.

The Intrigue: The succession process resulted in the resignation of two independent board members who cited concerns over political interference and manipulation.

What’s Next? Pimenta is expected to officially start as CEO in January 2025

Click here to read more.

ANALYST RATINGS

Idaho Strategic Resources (AMEX: IDR) - Date: 08/26/2024, Analyst Firm: Roth MKM, Rating: Maintains Buy, Target Raised from $10.00 to $14.00

Metals Acquisition Ltd. (NYSE: MTAL) - Date: 08/19/2024, Analyst Firm: Scotiabank, Rating: Maintains Sector Outperform, Target: $17.00

INSIDER TRADES

Notable Purchases

Peabody Energy (NYSE: BTU) - Purchase Dates: 8/13-15/2024, Insider: Thomist Capital Management, Value: $1.79M, Delta Own: 11.72%

United States Antimony Corp. (AMEX: UAMY) - Purchase Date: 8/14/2024, Insider: Rachel Hubert (controller), Value: $3.37K, Delta Own: New Position

Notable Sales

Southern Copper (NYSE: SCCO) - Sell Date: 8/25/2024, Insider: Luis Miguel Palomino Bonilla ( director), Value: $10.51K, Delta Own: -3.98%

Royal Gold (NASDAQ: RGLD) - Sell Date: 8/27/2024, Insider: Randy Shefman (general counsel), Value: $645.43K, Delta Own: -38.24%

Go Deeper: Learn where the insiders are buying and selling.

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