Daily Dispatches

By Eddie Spence
Bloomberg News
Thursday, January 12, 2023

JPMorgan Chase & Co. is looking to start clearing precious metals trades in Zurich, something that for years has been dominated by just two Swiss banks.

The lender may begin to offer to settle its clients’ trades using metal located in Zurich, according to people familiar with the matter who asked not to be identified as the information is private. 

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From Money Metals News Service
Eagle, Idaho
Thursday, January 12, 2023

Building on the success of passing a full sales tax exemption on precious metals (HB 1874 and SB 1857) in 2022, lawmakers in Tennessee have set their sights on another pro-sound money effort: an in-state bullion depository.

2p ET Wednesday, January 11, 2023

Dear Friend of GATA and Gold:

Bullion Star researcher Ronan Manly writes today that China's announcements of gold purchases are made strategically, to remind the world that China is a big power in the currency markets, and that while many months may pass without such announcements, China is probably acquiring gold steadily anyway in pursuit of a plan to hold the world's largest gold reserve. 

Indeed, Manly adds, China already may be nearing that point.

By Harry Dempsey and Michael Stott
Financial Times, London
Tuesday, January 10, 2023

First Quantum Minerals has threatened to close its vast copper mine in Panama if it fails to resolve a tax dispute that it says risks damaging the country's business-friendly reputation.

Panama has demanded that the Canadian group pay corporate tax of at least $375 million a year along with a profit-based mineral royalty of 12-16%, a steep rise on the $61 million FQM paid to Panama on a project that raked in $1.4 billion of gross profit in 2021.