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Investors' gaze turns to North America

Mining investors’ attention turns to North America as the week begins with an upbeat Vancouver Resource Investment Conference underway, while the gold price received a boost over the weekend thanks to the US government shutdown.
Investors' gaze turns to North America Investors' gaze turns to North America Investors' gaze turns to North America Investors' gaze turns to North America Investors' gaze turns to North America

RNC boosted by gold, nickel and cobalt news

Staff reporter

In Canada, junior mining executives told Mining Journal they were feeling more confident than a year ago in the lead-up to the Vancouver gathering.

The TSX mining and metals sector closed up more than 1% on Friday, and Royal Nickel Corp (CN:RNC) was one of the bigger movers with a gain of just over 16% taking it to a 10-month high.

The diversified miner last week announced it had increased gold production at its Beta Hunt mine in Western Australia by 21% in the fourth quarter and 33% for 2017; and also dusted off plans for its shovel-ready Dumont nickel-cobalt project in Quebec, which it says contains the world's largest undeveloped reserves of both cobalt and nickel.

Gold was trading at US$1,331 an ounce on the spot market earlier as the US government shutdown enters its third day ahead of a key vote on a short-term funding bill set for noon in Washington.

US president Donald Trump is then scheduled to join global leaders at the World Economic Forum that starts tomorrow in Davos, Switzerland.