Newmont’s Earnings Power at $3,200+ Gold
Why it matters now: Newmont (NEM) posted a clean Q2 beat as record prices flowed through the P&L, with $3.0B adjusted EBITDA and $1.6B adjusted net income. Average realized price hit about $3,320/oz, showcasing the earnings torque even as the company integrates Newcrest assets. Context: Producers are increasingly focused on balance sheet strength and disciplined […]
Hudbay + Mitsubishi Advance Copper World (AZ)
Why it matters now: Mitsubishi Corporation will invest $600M for a 30% JV stake in Hudbay’s Copper World project in Arizona, committing to fund DFS and participate in design, financing, and construction. The deal, expected to close late 2025/early 2026 pending approvals, meaningfully de‑risks the project and signals OEM/industrial interest in U.S. copper supply. Context: […]
Seabridge Extends Porphyry at Snip North (BC)
Why it matters now: New drilling by Seabridge Gold (TSX: SEA; NYSE: SA) at Snip North (Iskut, BC) cut broad porphyry‑style copper‑gold mineralization, adding district‑scale upside near the shovel‑ready KSM project. Fresh intercepts support the thesis that KSM sits within a larger porphyry cluster in the Golden Triangle. Context: Capital remains selective for grassroots exploration, […]
Uranium — Policy Tailwinds Meet Tight Supply
Why it matters now: The U.S. has selected 11 projects to fast‑track small nuclear test reactors, adding policy momentum to a fuel market already tight on primary supply. Spot has stabilized in the low‑$70s/lb area after a spring pullback, with term pricing firmer. Kazatomprom (LSE: KAP), the world’s largest producer, reiterated a “value over volume” […]
Potash — Demand Tone Improves; Guidance Ticks Up
Why it matters now: Nutrien (NYSE: NTR; TSX: NTR) beat Q2 profit estimates and raised 2025 potash sales guidance to 13.9–14.5Mt, citing stronger North American demand heading into fall application season. Management flagged improved weather and robust corn acreage as tailwinds. Reuters+1 Tariff talk remains a swing factor for U.S. farmers, who rely on Canadian […]
Copper — Range‑Bound but Supported by Macro Catalysts
Why it matters now: Copper is holding gains as traders digest U.S. and China data this week. With Panama’s Cobre Panamá still shut and permitting timelines stretching globally, the medium‑term deficit narrative persists. Bloomberg.comReuters LME copper ticked ~0.1% higher in London midday trade, while iron ore eased. Macro remains the swing factor: a softer U.S. […]
Lithium — CATL Mine Halt Tightens Near‑Term Sentiment
Why it matters now: Lithium names rallied after CATL suspended output at one of China’s largest mines, feeding expectations for tighter near‑term supply and better pricing into 2026, even as EV demand remains uneven. ReutersBloomberg.com Prices and equities jumped on the headlines, with traders reading the move alongside Beijing’s campaign to curb industrial overcapacity. While […]
Silver — Riding Gold’s Wake as Banks Lift Forecasts
Why it matters now: Silver continues to track gold’s strength, with large banks lifting price decks on the back of bullion’s record run and persistent macro uncertainty. HSBC raised its 2025–2027 silver outlook to an average $35.1/oz in 2025 (from $30.3) and $34.0/oz in 2026, noting the rally is “due more to silver’s relationship with […]
Gold — Record Prices Keep Bid as Fed Cut Bets Firm
Why it matters now: Gold caught a fresh bid after July CPI came in mild, pushing the dollar to a multi‑week low and reinforcing expectations for a Fed rate cut in September. With spot near record territory, miners continue to enjoy elevated realized prices even as operational risks remain. Following softer U.S. inflation in July, […]
