Sprott Asset CEO on Rising Mining Costs, Gold Demand, and Election Impact | John Ciampaglia
Gold prices surged near $2,800 an ounce, supported by central bank buying and geopolitical tension, while inflation pressures have sent mining costs soaring. John Ciampaglia, CEO of Sprott Asset Management, told Kitco Mining’s Jeremy Szafron that all-in-sustaining costs (AISC) for miners have jumped 50% since 2020, with energy and labor inflation driving up expenses.
Ciampaglia discussed the U.S. election’s potential impact, noting that a Trump administration might ease regulatory pressures, while a Harris administration could tighten them. He also highlighted growing competition for critical minerals like lithium, copper, and uranium, which are in focus for both industry and national security.
Founded by Eric Sprott in 1981, Sprott Asset Management specializes in precious metals and critical materials investments, offering trusts and ETFs for investors in resource-based sectors.
00:00 – Mining Costs Rising: Impact on Stocks
01:33 – All-in Sustaining Costs and Profit Margins
03:24 – Resource Nationalism and Jurisdictional Risks
04:21 – Gold’s Record Highs and Unmet Investor Interest
05:08 – Central Bank Demand and China’s Gold Strategy
06:38 – BRICS and Shift from Dollar to Gold
07:08 – Mining M&A as a Cost-Saving Alternative
08:32 – Lithium Market Stabilization and Critical Minerals Demand
11:21 – Evaluating Jurisdictional Risks in Mining
14:34 – U.S. and Canada’s National Security Focus on Mining
17:02 – Russia’s Potential Export Bans on Key Metals
19:12 – Asian Central Banks’ Strong Gold Demand
21:05 – U.S. Election’s Impact on Mining Regulations
22:36 – Canada’s Role in Global Critical Minerals
27:24 – SMRs and Future Energy Needs
30:42 – Concluding Thoughts on Mining and Market Outlook
#GoldDemand #MiningCosts #SprottCEO #JohnCiampaglia #KitcoMining #GoldInvestment #MiningStocks #CentralBankGold #USMiningRegulations #ResourceNationalism #CriticalMinerals #GoldPrices #BRICS #LithiumDemand #EnergySecurity #MiningMergers #CopperDemand #JurisdictionalRisk #AsianGoldDemand #NationalSecurityMining #SmallModularReactors #UraniumDemand #ElectionImpactOnMining #PreciousMetals #KitcoNews
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