Welcome back to our weekly update. I'm Charlotte Mloud with investingnews.com and we're going to run through a few of the week's biggest stories in the mining industry. If you enjoyed this video, don't forget to hit the like button, subscribe to our channel, and of course, leave us a comment below. Let's get into it. [music] The gold price remained fairly steady this week after last week's brief uptick, largely trading between 4,000 and 4,100 per ounce. As is often the case, silver was more volatile, jumping


briefly above the 52 per ounce level midway through the period. The precious metals faced some pressure on November 20th after the release of September US jobs data. [music] The Department of Labor report, which was delayed due to the government shutdown, came in stronger than expected with non-form payrolls increasing by 119,000 for [music] the month. That's more than double the gain of 50,000 estimated by analysts. [music] The jobs numbers have dampened expectations that the US Federal Reserve


will cut interest rates at its December gathering, as have minutes from the central bank's October meeting. The minutes shared on November 19th highlight the divide among Fed officials who were not all in favor of last month's rate reduction. They also state that while several participants believe lowering rates could be appropriate next month, many want to leave rates unchanged. [music] Fed Chair Jerome Powell said previously that a December cut isn't a foregone conclusion. Aside from that, the minutes indicate broad


approval for the end of quantitative tightening on December 1st. Adrien Day of Adrien Day Asset Management highlighted the end of QT in our recent interview, saying that he sees a potential transition to quantitative easing ahead. Here's how he explained it. >> But he actually announced as of December 1, there will be no more QT. Okay. He also said that any money that rolls over from any money from mortgage back securities that rolls over that matures will now be going will be put back into


treasuries. Excuse me. Well, that begins to sound an awful lot like QE to me. The beginnings of QE. And I suspect that that's going to be the next We talked about this before. I was a bit of an outlier. I was certainly a little early on that because I thought we'd be seeing it in in the fall. Um I think the government shutdown kind of um delayed the timing on that because if the government shut down, you don't need so much money. Um although as a tangent, it's really ironic the government shut


down but they still seem to be spending 99% of what they spent before. Um but anyway, cut ending QT for sure and putting money that rolls over matures in Q in in mortgage securities into treasuries really sounds like me to the beginning of QE and I think that's going to be the big story for the next 6 months. >> I'll leave a link to the full interview with Adrian in the video description. [music] Turmoil continued for gold and copper producer Bareric Mining this week after a series of company developments made


headlines. First, Reuters reported that Bareric's board is considering splitting the company into two different entities, [music] one focused on North America and the other on Africa and Asia. [music] Four sources familiar with the firm's thinking told the news outlet that Bareric's African assets could also be sold outright, as [music] could the Pakistan-based Recoine, essentially undoing Bareric's 2019 merger with Africa Focused Randold Resources. [music] Bareric didn't respond to


requests for comment, but later in the week, news hit that activist investor firm Elliot Investment Management has taken a large stake in Bareric. sources told the Financial Times that Elliot is now among Beric's 10 top investors, meaning its stake is worth at least 700 million. Elliot hasn't shared information about what it would like Bareric to do, but is reportedly encouraged by the idea of breaking the company in two. Bareric [music] has faced numerous headwinds recently, including the seizure of a key gold mine


in Mali and the departure of CEO Mark Bristo. Bristo, who took the helm at Bareric after it joined forces with Randold, abruptly stepped down in September after facing criticism. Although shares of Beric are up close to 130% year-to- date, the company has underperformed compared to its peers in the gold space. Bristo is not the only person to leave Beric lately. The last piece of news about the company this week is that two senior managers and a top executive have departed. CEO Mark Hill announced the changes in a memo


scene by Bloomberg saying the company is looking to evolve its operating model so that it's in line with strategic priorities. [music] What do you think will end up happening with Bareric? And would you invest in the company right now? Let us know what you think in the comments. [music] Rare Earth Miner MP Materials and the US Department of Defense are teaming up on a strategic joint venture with Saudi Arabian mining company. The deal, which will see the three entities collaborate on a Saudi Arabian rare earth refinery,


comes after the US and Saudi Arabia signed a strategic framework on securing critical supply chains. [music] The refinery will process rare earth's feed stock from Saudi Arabia and elsewhere and will be able to produce both [music] light and heavy rare earths. Under the Trump administration, the US has ramped up efforts to break China's rare earth dominance, boosting its relationship with MP in the process. [music] In July, the Defense Department agreed to buy 400 million worth of preferred stock in the


company, a move that MP called a transformational public private partnership. Thank you [music] for watching. If you like this video, make sure you hit the like button and subscribe to our channel. We'd also love to hear your thoughts, so leave us a comment below. [music]