Cobalt mining disaster could impact up to $2.3 trillion in gold, silver and copper exports

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By Paul Kennedy and David PogueOctober 14, 2018 3:18:27Gold and silver prices have been on a tear, thanks to Donald Trump’s presidency and his promise to end the gold and silver price rally in a major way.

On Tuesday, the dollar index advanced 0.7% to 93.40 cents US, the strongest since February 2018, and gold surged 1.5% to $1,839.20 an ounce.

Silver rose 1.1% to 1,639.60 an ounce after hitting a record high earlier in the day.

Silver prices fell sharply following the news that a large amount of Cobalt-30 in the United States was found in an abandoned mine in southern Wyoming.

A number of reports indicated that Cobalt miners were working in remote locations.

The Cobalt mine was located about 1,400 miles (2,100 kilometers) south of Denver and about 50 miles (80 kilometers) west of Laramie, Wyoming, where an accident was reported on Sunday.

The mine’s operator, United States Silver Corporation, said that it has discovered Cobalt’s copper and nickel reserves, which were mined in the 1960s and 1970s.

The mine has been abandoned for nearly 30 years.

On Wednesday, U.S. Steel Corp. said it had been “satisfied” with the Cobalt investigation.

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