Latest news with #RoyalCanadianMint
CTV News
17-07-2025
- Business
- CTV News
Canada's largest coin show underway in Calgary
Loonies with the the effigy of King Charles on them are struck at an event celebrating the first coin struck at the Royal Canadian Mint in Winnipeg on Tuesday, November 14, 2023. THE CANADIAN PRESS/John Woods The Royal Canadian Numismatic Association (RCNA) convention is underway in Calgary. Running through July 20 at the Coast Plaza Hotel and Conference Centre, the six-day event draws collectors, dealers and hobbyists from across the country for exhibits, auctions, seminars and social events. Organizers say it is the largest coin way show ever held in Canada. 'This year's convention gives the numismatic community a chance to come together, share knowledge, and celebrate our rich heritage,' said James A. Williston, chair of the 2025 convention. Organizers have filled the bourse floor — a marketplace where dealers buy, sell and trade coins, paper money and related collectibles — with 75 dealer tables featuring vendors from across Canada. The program includes expert-led seminars, nationally recognized competitive and non-competitive exhibits and a youth program aimed at inspiring the next generation of collectors. The Royal Canadian Mint also has a booth on site. Attendees can join guided tours of local attractions, attend the RCNA's annual banquet and awards ceremony and take part in a range of social gatherings. The convention is open to the public, and organizers encourage everyone — from experienced numismatists to curious newcomers — to attend.
Vancouver Sun
14-07-2025
- Business
- Vancouver Sun
Why gold is considered a 'safe haven' in B.C.'s uncertain economic times
Foreign exchange transactions are the main business at Vancouver Bullion and Currency Exchange. But since January, when U.S. President Donald Trump took office and made his first tariff threat on Canada, the business has seen interest grow in sales of precious metals, particularly gold. 'We find a lot of times when there's a lot of uncertainty, a lot of volatility in the markets, when people aren't really sure what this next six months are going to look like, people will always buy into gold as a safe haven,' said Garo Mavyan, a senior trader at the exchange. One-ounce gold bars from either the Royal Canadian Mint or European refiners, such as Credit Suisse, 10-ounce Canadian gold bars and the industry-renowned Canadian Maple Leaf gold coin are typically what people will buy, Mavyan said, displaying some of the items the exchange carries in a small meeting room at their downtown location. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. They also sell Royal Canadian Mint kilogram gold bars — rounded rectangles, roughly the size of a previous-generation iPhone, worth about $148,000. 'Not every day,' Mavyan said, but they are available for the occasional investor looking to buy $1 million or more. Things have calmed down a bit, Mavyan said. But when Trump earlier this year first announced he was going to impose tariffs on Canada because it had failed to address the flow of illicit drugs to the U.S., 'We were starting to get a lot more calls.' The economic roller-coaster spurred by Trump's on-again, off-again tariff war has everyone from individuals to investment funds, and even central banks of several nations, flocking to the reputed stability of physical gold. In May, Canada's exports of unwrought gold, silver and platinum increased 30 per cent, reaching a record $5.9 billion. Gold shipments to the U.K. formed the biggest part of that, helped by soaring prices. There have been ups and downs, but the per-ounce price for gold has shot up some 22 per cent since Trump was sworn in to office, settling at $3,372 US in trading Thursday. Gold 'is viewed as … a tangible store of value in a world where there's a greater level of uncertainty as to what's going to happen next,' said Mark Patterson, a partner and B.C. mining leader for the professional-services firm PwC. He added that is driven by the U.S. administration's view of its trading relationships with other countries. It causes people to pause and question, 'Is there going to be continued value in the Canadian dollar? Is there going to be continued value in the U.S. dollar?' The higher price for gold, and the prospect that it will remain high, bodes well for B.C. mining. Patterson said the hope is that as the higher prices translate into cash flow from B.C.'s gold producers, they will focus on expanding their mines and investing in more exploration. By revenue, Patterson said coal is B.C.'s most important commodity, making up more than half of what the province produced in 2024, followed by copper, which was 22 per cent of the province's output. Gold was the third-most important product in 2024 at 13 per cent of output by value, according to PwC's 2024 B.C. mining report. However, Patterson noted that the revenue to B.C. gold miners increased by 34 per cent from the previous year, mainly due to gold prices that averaged more than US$400 per ounce higher than in 2023. And prices now are about $1,000 higher. Gold 'clearly hasn't been the most important when we think about economic output and just look at the numbers,' Patterson said. However, with gold at $3,300 an ounce, 'it's going to be a very valuable component of some of those critical mineral projects, even if they're not primarily focused on gold and silver,' Patterson said. Even for smaller mining companies, the high prices 'allow us to inject capital, fill up the treasury, which then creates opportunities,' said Rana Vig, CEO of Vancouver-based Blue Lagoon Resources Inc. In February, Blue Lagoon earned a permit for a property known as the Dome Mountain mine, a small underground mine east of Smithers that has operated sporadically since the 1930s. Vig's company has spent some $30 million building new infrastructure for the mine since acquiring the mineral rights in 2019. He added that after Blue Lagoon's official opening July 8, the company expects to be producing gold within weeks and deliver some 15,000 ounces of gold per year. 'It has a tremendous impact,' Vig said of the high gold price. 'Everyone is talking about that right now because it makes the smaller projects in particular much more valuable.' Notwithstanding the public focus on B.C.'s potential for critical minerals, and government promises to fast-track copper or nickel mines, the province's newest major mine — Vancouver-headquartered Artemis Gold Inc.'s Blackwater mine, which opened at the end of May southwest of Vanderhoof — is a gold mine. There are also six primary gold projects under development in B.C. on the list of 28 potential mines published by the Mining Association of B.C. 'There's always been an interest in gold, and it continues today, given the current uncertainty and volatility,' said Michael Goehring, CEO of the Mining Association of B.C. However, Goehring added that there is at least some gold in a lot of the mineral deposits in B.C.'s mining zones, which has historically helped the economics of mine development in the cyclical markets for base metals such as copper. 'The gold is important (in) B.C.'s copper deposits,' Goehring said. 'Our grades of copper are not exceptional, so it makes some of those low copper grades more economic to mine.' Patterson said another upside for mining companies is the awareness that the trade war news has raised in audiences who weren't necessarily paying attention to the industry. 'People in Metro Vancouver who maybe don't necessarily see it, think about it, maybe now have some greater appreciation for the impact that it has on the economy of the province,' Patterson said. 'As a result, sentiment is more favourable than it might otherwise have been.' depenner@
CTV News
12-07-2025
- Entertainment
- CTV News
National Music Centre exhibition celebrates jazz giant Oscar Peterson in new exhibit
A new exhibit opening next week at the National Music Centre (NMC) will celebrate the life and times and music of jazz giant Oscar Peterson. Timeless: 100 Years of Oscar Peterson opens on what would have been Peterson's 100th birthday. It celebrates his six-decade career, from his early days living in Little Burgundy, a Montreal Black working-class neighbourhood to a global jazz superstar known for performing and composing, as well as for being an advocate for civil rights and arts education. Peterson was the first person inducted into the Canadian Music Hall of Fame in 1978. The exhibit features musical instruments from Peterson's home studio, including vintage synthesizers, electronic instruments and recording equipment that demonstrate his early adoption of electronic music technology. There's also performance footage and the story behind 'Hymn to Freedom' which became an anthem of sorts to the civil rights movement. In 2022, the Royal Canadian Mint issued three million loonies that featured Peterson on it and in 2005, in celebration of his 80th birthday, Canada Post issued a stamp featuring Peterson. Oscar Peterson coin (Source: Royal Canadian Mint) There's also a kid's zone, with a kid-friendly curated playlist, as well as interactive instruments designed to spur children's interest in music. The exhibit opens July 16 and runs for a year. On Sunday, the NMC is offering free admission to Stampede Send-Off.
Arab Times
29-06-2025
- Business
- Arab Times
Guyana to crack down on gold smuggled in from Venezuela at urging of US govt
GEORGETOWN, Guyana, June 29, (AP): Guyana has pledged to crack down on gold smuggled across the border from neighboring Venezuela at the urging of the US government. President Irfaan Ali said late Friday that the government of the South American country is dedicating "enormous resources' to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions. Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the US, Canada, the Middle East and elsewhere. In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied. Meanwhile, the US Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas. Gold is Guyana's second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana. US Ambassador Nicole Theriot on Friday praised Guyana's cooperation, noting that the countries have worked together to secure Guyana's border with Venezuela. Relations between the two South American neighbors remain tense given a bitter dispute over the Essequibo region, which Venezuela has long claimed as its own. It represents two-thirds of Guyana and is rich in gold, diamonds, timber and other natural resources. It also is located close to massive offshore oil deposits, with current production averaging some 650,000 barrels daily.
Al-Ahram Weekly
28-06-2025
- Business
- Al-Ahram Weekly
Guyana to crack down on gold smuggled in from Venezuela at the urging of the US government - International
Guyana has pledged to crack down on gold smuggled across the border from neighbouring Venezuela at the urging of the U.S. government. President Irfaan Ali said late Friday that the government of the South American country is dedicating 'enormous resources' to thwart the smuggling, which has long been a problem. He said authorities have increased border patrols and improved monitoring in mining regions. Local officials have said they suspect that Venezuelan-sanctioned gold is being mixed with gold mined in Guyana and then passed off as local production and sold to markets in the U.S., Canada, the Middle East, and elsewhere. In 2021, the Royal Canadian Mint suspended gold purchases from a major export company in Guyana because officials suspected some shipments had been mixed with Venezuelan gold, an allegation the company denied. Meanwhile, the U.S. Embassy in Guyana has suspended the visas of several miners suspected of smuggling Venezuelan gold overseas. Gold is Guyana's second most important export after oil, generating nearly $1 billion last year. Some 434,000 ounces of gold were produced last year, up from 432,000 ounces the previous year, according to the Ministry of Natural Resources. It noted that up to 50% of local gold production is smuggled out of Guyana. U.S. Ambassador Nicole Theriot on Friday praised Guyana's cooperation, noting that the countries have worked together to secure Guyana's border with Venezuela. Relations between the two South American neighbours remain tense, given a bitter dispute over the Essequibo region, which Venezuela has long claimed as its own. It represents two-thirds of Guyana and is rich in gold, diamonds, timber, and other natural resources. It is also located close to massive offshore oil deposits, with current production averaging some 650,000 barrels daily. Follow us on: Facebook Instagram Whatsapp Short link:
