British Columbia and the Simpcw First Nation have signed a consent-based agreement to govern the environmental assessment of Trekor Metals’ Yellowhead copper project in Simpcwul’ecw Territory, the first time Simpcw has applied its Indigenous-led consent process to a major mine. Trekor has submitted a Detailed Project Description to the BC Environmental Assessment Office after early engagement and additional technical work, alongside an economic impact study for construction and operations. The proposed open pit is scoped as a 90,000 t/d operation over 25 years, targeting 178 million lb/y copper at US$1.90/lb cash costs, rising to 206 million lb/y at US$1.62/lb in the first five years.

China’s physical gold demand stayed near decade lows in June, with Shanghai Gold Exchange withdrawals at 87 tonnes, up 36% on May but still 27% below the 10-year average for H1 2026 as total withdrawals reached 598 tonnes. Jewellery demand weakness is keeping manufacturers from rebuilding inventories even as the gold price holds around $4,013/oz, roughly 8% lower year-to-date. In contrast, the People’s Bank of China added 15 tonnes in June, lifting reserves to 2,346 tonnes, while domestic gold ETFs saw record monthly outflows of RMB 15 billion and a 17-tonne holdings drop to 277 tonnes.

Gold is holding near $4,000/oz, with spot at $3,992 in New York and Comex futures back above $4,000, even after a 3% weekly drop and a 29% retreat from January’s ~$5,600 peak amid war-driven oil gains of almost 13% in five sessions and renewed Fed hike bets. Physical demand is weak, with Indian dealers quoting discounts up to $45/oz and Chinese premiums shrinking to par, while gold ETFs shed $8.9 billion in June. Equities are absorbing the real pain: the median leading US-traded gold and copper miner is ~38% below its 52‑week high, with Hecla 58%, Sibanye 62% and Equinox 54% off their peaks, signalling sustained funding and balance-sheet pressure for project pipelines.