WMAY’s Market Report

Welcome to the Investing News Network’s weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.The big news of the week came on Wednesday (March 19) when the US Federal Reserve’s Federal Open Market Committee (FOMC) convened for its March decision on whether to adjust its benchmark Federal Funds rate. Given the economic uncertainty surrounding US President Donald Trump’s economic and trade policies, it has been widely expected that the FOMC would maintain the rate at 4.25 to 4.5 percent, which is what they did. In his press statements, Fed Chairman Jerome Powell said inflationary numbers were somewhat stuck, citing tariffs raising consumer prices as a reason for the stagnant figures. However, he also indicated that the committee believed the effect would be largely transitory and that data showed the economy was strong and job markets were balanced. Because of this, he expects that the FOMC will still make two rate cuts in 2025 as previously planned.Sticky inflation isn’t limited to the United States. North of the border, Statistics Canada reported on Tuesday (March 18) that the consumer price index ticked up to 2.6 percent in February, versus a more modest 1.9 percent increase in January.The agency cited the end of the tax holiday implemented by the federal government in December as the primary source of the rise, as tax is included in CPI data. It also indicated the rise was moderated by slower price increases in gasoline.Newly sworn-in Canadian Prime Minister Mark Carney, who replaced former Prime Minister Justin Trudeau, is expected to dissolve parliament this Sunday (March 23) and announce an election for April 28 or May 5. The election would occur amid a growing trade war between the US and Canada and shortly after a new round of global tariffs from the US is set to take effect on April 2.For his part, Carney met with the premiers on Friday (March 21) to discuss opening up trade between the provinces and working to create a more unified Canadian economy. Currently, trade between provinces faces restrictions on many goods, from natural resources to alcohol and dairy products. Markets and commodities react In Canada, markets were largely positive this week. The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 2.57 percent during the week to close at 637.79 on Friday (March 14), the S&P/TSX Composite Index (INDEXTSI:OSPTX) was up 1.7 percent to 24,968.49 and the CSE Composite Index (CSE:CSECOMP) dropped 0.4 percent to 123.20.After seeing sharp declines in recent weeks, US equity markets were up slightly this week. The S&P 500 (INDEXSP:INX) gained 0.6 percent to close the week at 5,667.57 and the Nasdaq 100 (INDEXNASDAQ:NDX) rose 0.42 percent to 19,753.97. The Dow Jones Industrial Average (INDEXDJX:.DJI) saw the largest gains adding 1.27 percent to 41,985.36.Gold held above the US$3,000 mark this week and set a new all time high at US$3,053 following the Fed’s rate announcement. Overall, the gold price gained 1.23 percent over the week to US$3,021.85 per ounce at 4:00 p.m. EDT Friday. The silver price went the opposite direction, losing 2.35 percent during the period to US$33.03.In base metals, the copper price broke through US$5 per pound this week, gaining 4.69 percent to close out Friday at US$5.12 per pound on the COMEX. Meanwhile, the S&P GSCI (INDEXSP:SPGSCI) was up 1.18 percent to close at 558.21. ​Top Canadian mining stocks this week So how did mining stocks perform against this backdrop? We break down this week’s five best-performing Canadian mining stocks below.Data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market capitalizations greater than C$10 million are included. Companies within the non-energy minerals and energy minerals sectors were considered. 1. BCM Resources (TSXV:B) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”BCM Resources”,”url”:”https://www.bcmresources.com”,”description”:”BCM Resources Corp is principally engaged in the acquisition, exploration, development, and mining of mineral properties. The company holds interests in the Carter property in Canada and Thompson Knolls Property in the United States.”,”tickerSymbol”:”TSXV:B”,”sameAs”:[]} Company Profile Weekly gain: 136.36 percentMarket cap: C$12.99 millionShare price: C$0.13BCM Resources is an exploration company working to advance its flagship Thompson Knolls project in Utah, United States.The greenfield copper, molybdenum, gold, and silver project in Utah’s Great Basin consists of 225 federal unpatented lode mining claims and two state section leases covering an area of 2,242 hectares.Exploration of the project area began in the 1970s, when a US Geological Survey aerial survey identified a prominent magnetic anomaly. In the 1990s, follow-up work was conducted at the target.BCM carried out its last drill program at the property in 2023. At the time, the company announced that one drill hole encountered a significant mineral intercept of 0.66 percent copper, 0.12 grams per metric ton (g/t) gold and 7.4 g/t silver over 155.4 meters starting at a depth of 621.8 meters. The sample also contained eight intervals with greater than 1 percent copper over 24.3 meters.The company received approval from the Bureau of Land Management for a plan of operation to continue drilling at the project. In a July 2024 update, the company released data from an analysis of the project’s porphyry-skarn system by the Colorado School of Mines, which it plans to use to prepare for the drilling at the site.Although the company did not release news this week, shares were up alongside a surging copper price. 2. KWG Resources (CSE:CACR) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”KWG Resources”,”url”:”https://investingnews.com/stocks/cacr-cc/kwg-resources/”,”description”:”KWG Resources Inc is a Canada-based mineral exploration company.”,”tickerSymbol”:”CSE:CACR”,”sameAs”:[]} Company Profile Weekly gain: 100 percentMarket cap: C$31.99 millionShare price: C$0.03KWG Resources is a chromite and base metals exploration company focused on moving forward at its Ring of Fire assets in Northern Ontario, Canada. It does business as the Canadian Chrome Company.The firm’s properties consist of the Fancamp and Big Daddy claims, along with the Mcfaulds Lake, Koper Lake and Fishtrap Lake projects. All are located within a 40 kilometer radius, and according to the company are home to feeder magma chambers containing chromite, nickel and copper deposits.KWG is currently working with local First Nations to improve transportation to the region through the development of road and rail links. The company announced on November 7 that it had signed a memorandum of agreement with AtkinsRealis Canada in its capacity as a contractor representing the Marten Falls and Webequie First Nations.The agreement will allow AtkinsRealis temporary access rights over some mineral exploration claims in support of work permits for an environmental assessment for the design, construction and operation of a multi-use, all-season road between the proposed Marten Falls community access road and the proposed Webequie supply road.Once completed, the link will provide improved access to communities and mining companies in the region.KWG released a pair of news releases this week. On Tuesday, the company announced the closing of the second tranche of a private placement; the company raised gross aggregate proceeds of C$422,614.32 between the two rounds. It followed the news on Friday with the announcement of a proposed private placement for proceeds of up to C$5 million. 3. Sterling Metals (TSXV:SAG) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Sterling Metals”,”url”:”https://sterlingmetals.ca/”,”description”:”New Silver Discoveries in Newfoundland\n”,”tickerSymbol”:”TSXV:SAG”,”sameAs”:[“https://twitter.com/sterlingmetals”],”image”:”https://investingnews.com/media-library/sterling-minerals.jpg?id=27864506&width=980″,”logo”:”https://investingnews.com/media-library/sterling-minerals.jpg?id=27864506&width=210″} Company Profile Weekly gain: 60 percentMarket cap: C$33.97 millionShare price: C$0.08Sterling Metals is an exploration company working to advance a trio of projects in Canada.Over the past year, its primary focus has been on exploration at its brownfield Copper Road project in Ontario. The 25,000 hectare property has hosted two past-producing copper mines and has the potential for larger intrusion-related copper mineralization.On January 15, Sterling announced results from a 3D induced polarization and resistivity survey that covered an area of 5 kilometers by 3 kilometers and revealed multiple high-priority drill-ready targets.The company intends to use the survey results, along with historical exploration, to inform a drill program at the site.The company’s other two projects consist of Adeline, a 297 square kilometer district-scale property with sediment-hosted copper and silver mineralization along 44 kilometers of the strike, and Sail Pond, a silver, copper, lead and zinc project that hosts a 16 kilometer long linear soil anomaly and has seen 16,000 meters of drilling. Both properties are located in Newfoundland and Labrador.The most recent news came on Monday (March 17), when Sterling announced it had upsized its private placement for the second time. The expanded round will see gross proceeds of up to C$1.6 million. 4. Star Diamond (TSXV:DIAM) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Star Diamond Corporation”,”url”:”https://www.stardiamondcorp.com”,”description”:”Star Diamond Corp is a Canadian natural resource company. The principal activities of the company are the exploration, development, and production of diamonds. The company owns an interest in the Star-Orion South Diamond project, and Fort a la Corne Diamond District properties located in central Saskatchewan; and Buffalo Hills property located in the northwest of Edmonton.”,”tickerSymbol”:”TSX:DIAM”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=30568147&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=30568147&width=210″} Company Profile Weekly gain: 60 percentMarket cap: C$33.97 millionShare price: C$0.08Star Diamond is an exploration and development company working to advance its flagship Fort à la Corne diamond district in Saskatchewan, Canada.The property is located 60 kilometers east of Prince Albert, Saskatchewan. Previously a joint venture with Rio Tinto, Star Diamond acquired Rio Tinto’s stake in the project in March 2024 in exchange for 119.32 million shares in Star Diamond, resulting in Rio Tinto holding a 19.9 percent ownership position in the diamond junior.Fort à la Corne has seen extensive exploration of kimberlite deposits, including geophysical surveys, large-diameter drilling and micro- and macro-diamond analyses.The Star-Orion South diamond project, the most advanced project area in Star Diamonds’ portfolio, is located within the district.In 2018, the company released a PEA for Star-Orion South, which reported a resource of 27.15 million carats of diamonds from 200.16 million metric tons with an average grade of 14 carats per 100 metric tons. The inferred resource is 5.18 million carats from 72.08 million metric tons, with an average grade of 7 carats per 100 metric tons.At the time, the company estimated a post-tax NPV of C$2 billion, an IRR of 19 percent and a payback period of 3 years and 5 months.On January 9, Star Diamond announced that a 70.7 million share block held by a former project partner had been sold, with 61.12 million shares purchased by an international investor interested in diamonds.The company’s most recent news came on February 27, when it announced that it had closed the second tranche of its private placement for gross proceeds of C$230,000, adding to the C$335,000 from the first tranche it closed on February 18. The funds will be used as working capital. According to the announcement, Star Diamond is discussing funding for a pre-feasibility study with potential investors. 5. Cordoba Minerals (TSXV:CDB) {“@context”:”http://schema.org”,”@type”:”Corporation”,”name”:”Cordoba Minerals Corp.”,”url”:”https://www.cordobaminerals.com”,”description”:”Cordoba Minerals Corp is an exploration and development company. The principal business of the company is the acquisition, exploration, and development of precious and base metal properties. It is focused on projects located in Colombia and the United States. The geographical segments of the group are Canada, Colombia and the United States.”,”tickerSymbol”:”TSXV:CDB”,”sameAs”:[],”image”:”https://investingnews.com/media-library/image.gif?id=30140247&width=980″,”logo”:”https://investingnews.com/media-library/image.gif?id=30140247&width=210″} Company ProfileWeekly gain: 58.62 percentMarket cap: C$35.01 millionShare price: C$0.46Cordoba Minerals is an exploration company working to advance its flagship Alacran project in Colombia.The 20,000 hectare property hosts copper, gold and silver mineralization across five deposits: Alacran, Alacran North, Montiel East, Montiel West and Costa Azul. The project is a 50/50 joint venture with JCHX Mining Management (SHA:603979).A feasibility study for the project released in February 2024 demonstrated an after-tax net present value of US$360 million with an internal rate of return of 23.8 percent and a payback period of three years.The mineral resource estimate for the Alacran deposit and historical tailings reported an indicated resource of 99.46 million metric tons of ore with an average grade of 0.41 percent copper, 0.24 g/t gold and 2.65 g/t silver. Contained metal totals 904.53 million pounds of copper, 765,400 ounces of gold and 8.47 million ounces of silver.The company’s most recent news came on January 10, when it reported that it had closed a US$10 million bridge financing deal with JCHX. FAQs for Canadian mining stocks ​What is the difference between the TSX and TSXV? The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange. ​How many companies are listed on the TSXV? As of June 2024, there were 1,630 companies listed on the TSXV, 925 of which were mining companies. Comparatively, the TSX was home to 1,806 companies, with 188 of those being mining companies.Together the TSX and TSXV host around 40 percent of the world’s public mining companies. ​How much does it cost to list on the TSXV? There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports. ​How do you trade on the TSXV? Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours. Article by Dean Belder; FAQs by Lauren Kelly.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

(RTTNews) – The price of crude oil came under pressure in early trading on Friday but rebounded over the course of the session to end the day modestly higher.

(RTTNews) – After closing higher for eight consecutive sessions, the price of gold gave back some ground during trading on Friday.

Copper prices surged past US$10,000 per metric ton on Thursday (March 20), hitting a five month high as traders scrambled to secure supply ahead of potential US tariffs on the base metal. London Metal Exchange (LME) copper futures climbed sharply in early trading, reflecting a combination of supply constraints, rising demand and uncertainty surrounding trade policy.US President Donald Trump has ordered a probe into the national security implications of copper imports, raising concerns that a 25 percent tariff could be imposed, similar to levies already placed on aluminum and steel. The potential for such tariffs has triggered a wave of preemptive buying, particularly in the US, where traders are paying record premiums to acquire copper before any duties take effect. The spread between New York Comex futures and LME prices widened to more than US$1,254 this week, exceeding February’s high of US$1,149. Tariff threat complicating copper trade If the US imposes a 25 percent tariff on copper imports, analysts say the price gap between Comex and LME copper could widen even further, potentially surpassing US$2,000.StoneX analyst Natalie Scott-Gray told the Financial Times that this would further distort global copper trade, creating strong incentives for suppliers to shift even more metal to the US market.Wei Lai, deputy trading head at Zijin Mining Investment Shanghai, told Bloomberg that “a round of cross-regional repricing triggered by potential US tariffs” is unfolding. The rush to divert supply to the US is leaving other regions short of the metal, while also boosting investor confidence in copper as a lucrative commodity.Beyond tariffs, the copper market is facing broader supply-side challenges. Processing fees for copper smelters have reached historic lows, raising concerns about the long-term viability of some refining operations. An oversupply of smelting capacity — particularly in China — has made it difficult for copper smelters to maintain profitability.Commodities trading giant Glencore (LSE:GLEN,OTC Pink:GLCNF) recently announced it would halt operations at its Philippine copper smelter, citing “increasingly challenging market conditions” as processing fees collapsed. More smelters could shut down if the situation persists, further tightening copper supply and boosting prices.While trade policy is a key factor driving copper’s price surge, broader macroeconomic trends are also playing a role. Expectations of rising demand from Germany’s major infrastructure and military spending initiatives, as well as stimulus measures in China, are supporting bullish sentiment for the metal. Furthermore, some investors are diversifying away from US tech stocks, shifting funds into gold and industrial metals as a hedge against economic volatility.During the recent Prospectors & Developers Association of Canada convention, Adrian Day, president of Adrian Day Asset Management, explained why US tariffs on copper imports would be a bad idea.”Logically, if you’re worried that we need a lot of copper in the US and we’re not producing enough, the last thing you want to do is put tariffs on shipments from abroad,” Day explained. “I suspect that the people making a recommendation will recommend no tariffs, and they’ll recommend encouraging domestic production, and so on.” Rising copper prices boost China’s Zijin The positive impact of higher copper prices is already being felt across the mining sector. Zijin Mining Group (OTC Pink:ZIJMF,SHA:601899), China’s largest metals producer, reported a 52 percent jump in profit last year, driven by increased output and soaring prices for copper and gold. The company posted net income of 32.1 billion yuan (US$4.4 billion), with revenue climbing 3.5 percent to 303.6 billion yuan.Despite these gains, Zijin recently lowered its copper output target for 2025 by about 6 percent to 1.15 million metric tons, citing regulatory hurdles and geopolitical challenges that have slowed its overseas expansion. Resistance to Chinese acquisitions in western markets has also played a role in the company’s revised projections. ​Market waits for copper probe results For now, the outlook for copper is uncertain as traders await the results of the US tariff investigation. While final recommendations are unlikely to come until later this year, major investment banks, including Goldman Sachs (NYSE:GS) and Citigroup (NYSE:C), expect 25 percent import duties on copper by the end of 2025.In the meantime, copper prices are likely to remain volatile. As of midday on Thursday (March 20), LME copper was trading just below US$10,000, with other base metals showing mixed performance. Aluminum remained slightly higher, while nickel was steady. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Almonty Industries (TSX:AII,ASX:AII,OTCQX:ALMTF) has entered into a strategic partnership agreement with government relations and business development firm American Defense International (ADI). Toronto-based Almonty is currently strengthening its positioning within the critical metals sector, aiming to support the US government and the American defense and technology industries. On February 27, Almonty announced that its shareholders had approved its proposed continuance from Canada to Delaware, US, signifying the start of its redomiciling to the US.Speaking about the company’s new partnership with ADI, President and CEO Lewis Black explained that it will help position Almonty as a supplier of tungsten and molybdenum for the US. “As we move to finalize our redomiciling to the United States, ADI’s expertise and relationships, forged through working with industry-leaders such as SpaceX, will position us to strengthen relationships with key stakeholders in a rapidly evolving global landscape,” he said in a Tuesday (March 18) press release. Last month, Almonty signed a molybdenum offtake deal with SpaceX Korean contractor SeAH M&S, wherein SeAH will purchase 100 percent of the material produced from Almonty’s Sangdong molybdenum project in Korea. Through the partnership with ADI, Almonty hopes to enhance its engagement in the US market by reinforcing its alignment and support of government policies and industry priorities.The US domestication is still subject to court and other regulatory approvals. Almonty currently holds tungsten projects in Portugal, Spain and Korea. While it does not have projects in the US, the country is becoming more important in the company’s strategic positioning. Black said in Tuesday’s release that it expects redomiciling to enhance the company’s competitiveness in light of geopolitical tensions and policies and the recent shift to domestic sourcing of critical minerals.The company’s move to redomicile also comes amid heightened tariff concerns. US President Donald Trump has imposed widespread tariffs, including an additional 10 percent tariff on Chinese imports; China has responded with export controls on US goods, including tungsten.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

Nolan Watson, president and CEO of Sandstorm Gold (TSX:SSL,NYSE:SAND), discusses the outlook for his company, as well has his broader thoughts on gold. Even as the yellow metal trades at or near all-time highs, he sees further gains ahead. Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Kiribati is reportedly in discussions with China to explore deep-sea mining opportunities, signaling a potential shift in its approach to tapping into its vast offshore mineral resources.The Pacific island nation holds the exploration rights to a 75,000 square kilometer area in the Pacific Ocean, a region believed to contain valuable deposits of cobalt, nickel, and copper — key materials for the global battery industry.The talks between Kiribati and Chinese officials come after the collapse of a previous agreement with the Metals Company (TMC) (NASDAQ:TMC), a Canada-based deep-sea mining outfit.TMC confirmed that the contract was terminated “mutually” at the end of 2024, stating that Kiribati’s mining rights were “less commercially favourable than (its) other projects” with Nauru and Tonga.In a Monday (March 17) statement, the Kiribati government described discussions with Chinese Ambassador Zhou Limin as “an exciting opportunity” to explore ways to potentially collaborate on exploring Kiribati’s deep-ocean resources. A fisheries official confirmed the government is seeking new foreign partners to advance its deep-sea mining ambitions.Kiribati’s engagement with China aligns with Beijing’s broader push to secure access to critical minerals in the Pacific. In February, China struck a five year deal with the Cook Islands to cooperate on seabed exploration, although the agreement does not include any mining or exploration licenses.For its part, Kiribati has taken steps to deepen its ties with China in recent years, severing diplomatic relations with Taiwan in 2019. Since then, Chinese companies have gained rights to exploit Kiribati’s profitable fisheries, and Chinese police personnel have visited Tarawa, the country’s capital, to train local security forces.Opposition leader Tessie Lambourne has expressed concerns about China’s growing influence on Kiribati, stating, “I always say that our government is bending over backwards to please China.”While Kiribati and other Pacific island nations, such as Nauru, view deep-sea mining as a potential economic boon, opposition remains strong among some regional neighbors.Palau, Fiji and Samoa have called for a moratorium on the industry, citing significant environmental concerns. Global regulatory talks underway on deep-sea mining Companies looking to exploit the seabed are targeting polymetallic nodules — rock-like formations rich in manganese, cobalt, copper and nickel. However, scientists warn that large-scale mining could have irreversible consequences for marine ecosystems, potentially disrupting poorly understood habitats.The future of deep-sea mining is currently under debate at the International Seabed Authority (ISA), a United Nations-affiliated body responsible for regulating seabed resources beyond national jurisdictions.The Council of the ISA convened on Monday in Kingston, Jamaica, for two weeks of intensive negotiations aimed at finalizing regulations that would govern seabed mineral exploitation.One key agenda item involves determining regulatory scenarios in case a country submits an application for seabed exploitation before formal rules are established. Delegations from Nauru and Chile were given additional time to agree on this issue, with discussions scheduled for March 28.The Council of the ISA is also reviewing a revised draft of the exploitation regulations, focusing on environmental standards and benefit-sharing mechanisms.A high-level discussion on the draft standards and guidelines is set for March 27. It will help determine which documents are ready for finalization, and which require further updates from the Legal and Technical Commission. Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Steel Dynamics Inc. (Symbol: STLD) has been named as a Top 5 dividend paying metals and mining stock, according to Dividend Channel, which published its weekly ”DividendRank” report. The report noted that among metals and mining companies, STLD shares displayed both attracti

Dana Samuelson, president of American Gold Exchange, sheds light on key questions in the gold and silver market, including why the metals are flowing into the US in such large amounts. He also shares his outlook on gold and silver prices, as well as the US economy.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

The US Federal Reserve held its second meeting of the year from Tuesday (March 18) to Wednesday (March 19) amid broad economic chaos caused by the Trump administration’s tariff threats.As was widely expected, the central bank left interest rates at 4.25 to 4.5 percent, a range it set at its November meeting; it also said it will slow the pace at which it is shrinking its balance sheet.In his post-meeting remarks, Chair Jerome Powell said the Fed remains focused on its dual mandate of maximum employment and price stability. He noted that labor market conditions are “solid” and said inflation has moved closer to the Fed’s 2 percent target, although he did acknowledge that it remains “somewhat elevated.”The US consumer price index (CPI) was up 3 percent year-on-year in January, up slightly from 2.9 percent in December. CPI fell marginally in February to come in at 2.8 percent. The US personal consumption expenditures price index has also remained relatively flat, with a 2.5 percent year-on-year rise in January versus December’s 2.6 percent.The sticky inflation numbers come against a backdrop of global uncertainty as US President Donald Trump implements and threatens tariff action. Tariffs could drive consumer prices higher on critical goods for US consumers, including new gasoline, homes and cars, as the US relies on oil, lumber and steel imports from Canada.Powell noted that uncertainty is running high with Trump now in office, saying that his administration is making policy changes in four key areas: trade, immigration, fiscal policy and regulation. “It is the net effect of these policy changes that will matter for the economy and the path of monetary policy. While there have been recent developments in some of these areas, especially trade, uncertainty around changes and their economic outlook is high,” Powell said, adding that the Fed is focusing on “separating the signal from the noise.” The Fed will adjust its policy based on incoming data, and is well positioned to wait for greater clarity.When asked by a reporter why the Fed is still predicting two rate cuts this year despite waning consumer sentiment, Powell emphasized that the data shows the economy has remained strong.“I would tell people that the economy seems to be healthy; we understand that sentiment seems to be quite negative at this time, and that probably has to do with turmoil at the beginning of an administration,” he said.Following the Fed’s announcement, the gold price spiked to a new record high in the US$3,045 per ounce range. The silver price declined for most of the morning, but moved up after the Fed decision, staying above US$33.50 per ounce. The S&P 500 (INDEXSP:INX) climbed 1.04 percent to 5,675, while the Nasdaq-100 (INDEXNASDAQ:NDX) rose 1.25 percent to 19,707 and the Dow Jones Industrial Average (INDEXDJX:.DJI) moved up 0.83 percent to 41,920.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

As the gold price continues to trade at or near record levels, Guy Le Page, director at RM Corporate Finance, said he’s seen a “big uptake” of gold stocks in Australia over the last 12 months. Interest in lithium has dropped off, but copper, uranium and critical minerals like antimony are gaining attention. “We’re seeing broad interest across the commodities,” Le Page told the Investing News Network (INN) at this year’s Toronto-based Prospectors & Developers Association of Canada (PDAC) convention. In terms of what his firm is focusing on right now, he highlighted copper and uranium. “I think copper and uranium are front of our mind at the moment,” Le Page said. Why copper and uranium? Copper’s importance in Australia is growing as the country focuses on its road to net zero. The red metal is often used for renewable energy innovations such as electric vehicles, wind turbines and solar panels. Major miner BHP (ASX:BHP,NYSE:BHP,LSE:BHP) is projecting a 70 percent increase in copper demand by 2050, and like other companies is working toward boosting its output of the key commodity. BHP plans to double its copper production over the next decade via a significant expansion at its Olympic Dam deposit and by developing its Oak Dam deposit in South Australia.Olympic Dam is among the world’s most significant deposits of copper, along with gold and uranium.While uranium is not included in Australia’s latest critical minerals list, the country’s output and reserves underline it as a key player in the nuclear energy sector. Data from the World Nuclear Association shows Australia is one of the world’s largest uranium producers, alongside Kazakhstan, Canada and Namibia.Furthermore, the Minerals Council of Australia states that the country’s uranium reserves are the world’s largest, accounting for approximately one-third of global resources. Where is RM Corporate Finance focusing? Le Page also said his firm currently has a particular focus on North America. “There’s some great resource opportunities. We’ve invested a lot of money into Newfoundland, Labrador, Nunavut,” he told INN. “There’s quite a few Australian companies looking for copper up in the Nunavut region.” He sees RM Corporate Finance filling a gap for companies to raise smaller amounts of money. “It’s difficult for companies to raise $1 million to $5 million in Toronto. It’s actually not that hard to raise $50 million to $100 million in Canada, but that smaller end is difficult, and that’s a sort of void that we’re filling at the moment.” For Le Page, it makes sense for investors to consider cross-border stock opportunities. “I’d encourage the investors (in Canada) to branch out and buy some Aussie stocks,” he said. Looking more closely at jurisdiction, Le Page said stable geographies are diminishing by the hour. Still, he explained that choosing where to invest remains a case-to-case basis, mentioning how a few areas in Africa, such as Mozambique, are currently seeing instability when they have been quite secure for a long time.Le Page also pointed to “headaches” in West African countries like Burkina Faso, Mali and Niger.Botswana is one African jurisdiction that remains interesting for mining companies. Recently, BHP announced plans to invest up to AU$40 million in Cobre’s (ASX:CBE) Kitlanya East and West copper projects.In the same week, Globe Metals & Mining (ASX:GBE) signed its second offtake agreement with Myst Trading for the Phase 1 production from its Kanyika niobium project in Malawi. Australia-Canada government partnerships Australia and Canada are also working together at the government level. Last year, the countries announced that they would be working together to improve supply chain transparency and advocate for robust ESG credentials in critical minerals markets.Shared priorities by the countries include developing supply chain transparency and traceability to ensure fair market practices, supporting bilateral mining and service sector trade and investment and sharing information and best practices for reconciliation and economic inclusion for Indigenous peoples in critical minerals projects.Even so, in his keynote at PDAC, BHP CEO Mike Henry warned that Canada and Australia could trail emerging mining nations such as Argentina if their governments don’t speed up permitting and lower costs.Le Page also touched on permitting and approval in his interview with INN, saying that more streamlining and accelerating of these processes would be beneficial for mining and exploration companies. Recent developments include a new trial to streamline eligible mining activities in Western Australia, and various commitments from the Canadian government to expedite project development. Australia and recent trade tensions As US President Donald Trump continues to impose tariffs, upsetting traditional global trade ties, analysts are saying that it could be the time for Canada to strengthen its relationship with Australia. In recent years, the countries have been regarded as “ideal partners” given that they share similar economic structures and values.The Australian Strategic Policy Institute notes that Australia and Canada are well positioned to enhance their partnership in the Indo-Pacific region, potentially mitigating risks associated with US trade policies.Earlier this month, Vasyl Myroshnychenko, Ukraine’s ambassador to Australia, appealed to Australian miners to invest in Ukraine’s resource sector amid heightening tensions between the US and Ukraine.Myroshnychenko said that rare earths may be of special interest to Australian miners as the country makes moves toward rare earths supply independence. Click here to view the Investing News Network’s PDAC playlist on YouTube.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

New Zealand wants the global investment community to know it is open for business, Minister for Resources Shane Jones said at the Prospectors & Developers Association of Canada (PDAC) convention.Speaking to the Investing News Network (INN), Jones outlined the work the country is doing to reinvigorate its mining sector, highlighting the recently passed Fast-track Approvals Act 2024.Signed into law before Christmas of last year, the fast-track approvals system is a streamlined process for New Zealand project applications that have the potential to assist in economic growth.”The new Act helps cut through the thicket of red and green tape and the jumble of approvals processes that has, until now, held New Zealand back from much-needed economic growth,” said RMA Reform Minister Chris Bishop on February 7, the day the fast-track program officially opened for applications. “What we’ve done is clearly and unambiguously identified that the purpose of the fast-track legislation is economic development,” Jones said, adding that it also gives consideration to Indigenous people and local communities. “But the overarching purpose … is economic development, because we want to take our country into a new epoch of wealth and prosperity, and we are no longer going to enable these trickle-riddled processes to hold projects ransom.” New Zealand’s mining history Speaking about the history of mining in New Zealand, Jones said miners were originally attracted to gold. As New Zealand Petroleum & Minerals explains, European settlers began arriving in New Zealand in large numbers after 1840, and they honed their efforts on gold, as well as coal, leading to gold rushes in the 1860s. “By 1870 an impressive selection of metal ores had been discovered in New Zealand, but only three metals were successfully mined in 2005 — gold, silver and iron,” the organisation states. Today, gold and coal collectively account for about 80 percent of New Zealand’s mineral exports, producing export revenues of about 1.2 billion New Zealand dollars in the year to June 2023. Jones also mentioned New Zealand’s iron sands industry, calling it “Sahara in size.” “Nowadays, we are putting a great accent on security, economic resilience, and we’re attracting and changing the law to make it a lot more feasible to extract and develop greater resilience through using our own resources and, quite frankly, our own natural endowment,” Jones further told INN. Today, key players in New Zealand’s mining industry include OceanaGold (TSX:OGC,OTCQX:OCANF), whose Macraes operation is said to be the country’s largest operating gold mine with over three decades of continuous output. New Zealand’s new critical minerals list Jones also discussed New Zealand’s new minerals strategy and critical minerals list, announced on January 31. He highlighted the addition of gold and coal as critical minerals, noting that coal is a key export for New Zealand. “(Coal) represents important regional development and regional jobs. It genuinely is highly sought after as a key feature of the steelmaking process, which, after all, lies at the heart of a lot of global industrial processing,” he said.When it comes to gold, Jones pointed out that it’s often found in conjunction with antimony. “Gold is often the location where you find antinomy, and we have substantial potential for antimony,” he said. “Simply put, New Zealand wouldn’t have the skills, machinery, resources, and capability to support a modern and responsible mining sector without (gold and coal),” Jones also noted.Following the addition of gold and coal, New Zealand now has a total of 37 critical minerals on record. Banking issues, supply chain security Economic progress will always be linked to financial institutions such as banks, and Jones believes New Zealand’s banking situation may be hindering the country’s progress. He spoke to INN about the issue of banks refusing to provide services to businesses that don’t align with their climate change commitments.On February 10, New Zealand First introduced a member’s bill to counter the banks’ actions, saying that no New Zealand business should be denied banking services unless the decision is grounded in law.“I do think the banks need to be called out,” Jones said. “It is not their job to be the moral arbiters of how businesses or investors in New Zealand survive or die; their job is to work within the context of what can make money.”Speaking about supply chain security, Jones said there is a need for New Zealand to ensure that the country’s resources can be used as much as possible within guardrails, and that includes fossil fuels like coal.“No one bought into the structural adjustment championed by the economists of the 1980s, including Milton Friedman, more than New Zealand, but now we’re learning that what worked then needs to be recalibrated,” he said. “My message to every other modern economy in the OECD is this: Unless you’re blessed with endless amounts of nuclear, there will be times that you must rely on fossil fuel,” he said. New Zealand mining open for business New Zealand currently holds a GDP of about US$260 billion, and in 2023, mining was recorded as the country’s most productive industry in terms of GDP per filled job, showcasing its importance in the country. Jones emphasised his focus on conveying the New Zealand opportunity to the business community. “It’s really important that the various firms that operate out of New Zealand — selling services, engaging with the investment community — that I stand in solidarity with them,” he said when asked about his trip to PDAC.”But also to convey to the broader investment community and potential mining firms that although we’re a dairy nation and we’re the land of the hobbits, we are also very keen to reinvigorate and grow our mining sector. You can conceive of the New Zealand economy as being akin to a quiver of arrows, and each arrow has to strike a target.” Click here to view the Investing News Network’s PDAC playlist on YouTube.Don’t forget to follow us @INN_Australia for real-time news updates!Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

Calibre Mining’s (TSX:CXB,OTCQX:CXBMF) largest shareholder has come out against Equinox Gold’s (TSX:EQX,NYSEAMERICAN:EQX) US$1.8 billion takeover bid, casting doubt over the year’s biggest gold deal. According to Bloomberg, Van Eck Associates, which holds an 8.69 percent stake in Calibre, has voiced its opposition, citing a lack of operational synergies and concerns over the dilution of Calibre’s quality.Van Eck was also the second largest investor in Equinox as of December 31, 2024. The proposed all-stock transaction, announced in February, aims to create a mid-tier gold producer with annual output of approximately 1.2 million ounces. However, the deal still requires shareholder and regulatory approval. Both companies have scheduled shareholder votes, with two-thirds majorities required for approval.“We are not supportive of this transaction. We don’t see any synergies between any of the companies’ operations,” Imaru Casanova, portfolio manager at Van Eck’s International Investors Gold Fund, said in an email to Bloomberg on Tuesday (March 18). “Both operate in the Americas, but in vastly different locations.”Casanova also emphasized that Calibre was poised for a revaluation as it advanced its flagship Valentine project in Newfoundland, Canada. Valentine is set to become Atlantic Canada’s largest gold mine. Equinox operates mines across Canada, Mexico, Brazil and the US, while Calibre’s assets are concentrated in Nicaragua and the US. The deal would make the combined company one of the top 15 global gold producers.Equinox declined to comment on Van Eck’s opposition, while Calibre did not immediately respond to inquiries.The Equinox-Calibre deal is part of a broader trend of consolidation in the gold sector, driven by gold’s surging price and strong company balance sheets. However, investors remain cautious, given the industry’s history of high-priced mergers that fail to generate expected returns. Many mining mergers since 2010 have struggled to deliver, with industry reports highlighting skepticism due to overvalued acquisitions and underperforming transactions.As mentioned, the purchase still requires approval from shareholders and regulatory bodies. With Van Eck’s significant opposition, other institutional investors may reconsider their stance before the vote.Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

(RTTNews) – Crude oil inventories in the U.S. increased by more than expected in the week ended March 14th, according to a report released by the Energy Information Administration on Wednesday.

Exploration spending in the mining sector peaked in 2012 and has since declined for over a decade. Last year, global funding for explorers dropped near lows last seen in 2005. This could mean funding has reached a cyclical low, and the industry may be ready for renewed interest and increased investment. Speaking at this year’s Prospectors & Developers Association of Canada (PDAC) convention in Toronto, Kevin Murphy, research director for metals and mining research at S&P Global Market Intelligence, ran through issues surrounding the flow of capital into mining exploration and shared his thoughts on whether the tide will change this year. Why has resource exploration funding declined? Several factors have contributed to the decline of exploration funding.Murphy noted that in the past decade, interest in the mining industry has seen competition, with new investors pursuing headline-grabbing opportunities in cryptocurrencies and elsewhere in the tech sector. Meanwhile, many older investors in the industry began using their profits to fund their retirements.In addition, much investment in the resource sector is focused on mining rather than juniors, which perform the majority of exploration. There has been little trickle down in funding from the majors to the juniors.Aside from that, Murphy explained that for many metals, including copper, the focus has shifted away from greenfield exploration aimed at discovering new deposits. Instead, copper majors are performing more mine site exploration aimed at expanding resources at existing operations and, more broadly, increasing efficiency. While mine site exploration increases supply, Murphy said it indicates structural deficiencies in the future.“We’re adding to reserves and resources, but we’re adding to old discoveries — so assets that were discovered in the ’90s, ’80s and the ’60s,” he said. While this is replacing current production, Murphy believes that more money should be spent on greenfield exploration and the discovery of resources needed to meet future demand growth.When it comes to the gold sector, which has been focused on mine site exploration for a longer time, Murphy suggested the downward trend in exploration funding has multiple causes. “It’s been a rough go in 2024 for the juniors, and the juniors historically love gold exploration,” he said. “There’s been some pretty high-level M&A, and we find in exploration that … when large companies come together, they pare down their assets, and what would have been a tier-one asset for one company becomes a tier two and is put on hold.”Even though gold has soared to record high prices, greenfield exploration funding hasn’t benefited. This is largely due to high inflation over the past several years, which has pushed operational costs higher and decreased margins.When these foundational challenges come into perspective, untying purse strings becomes more difficult. How geopolitics impacts resource exploration funding Geopolitics is another major factor in exploration funding in 2025, according to Murphy. He shared his thoughts on how this can affect Canadian mining companies.“The Canadian government — there’s a lot of uncertainty there, and also that uncertainty happens to flow through to some very important programs like the METC, which is very good for exploration,” he said.The METC, or Mineral Exploration Tax Credit, is part of a flow-through scheme that passes on paper costs to investors, allowing them to claim a 15 percent tax rebate on their investments. The program’s future was uncertain going into PDAC, but on March 3, the day after Murphy’s presentation, Jonathan Wilkinson, Canada’s minister of energy and natural resources, extended it until March 31, 2027. Even so, a great deal of unknowns remain. The Canadian government won’t sit again until March 24, this time with a new prime minister at the helm and with the almost-certain fate of a new election being called. The continual threat of tariffs from the US has added to the chaos. Investor takeaway Looking at factors that may move the needle on exploration funding in 2025, Murphy said gold should do “pretty well” under the Trump administration given its status as a safe-haven asset in times of uncertainty. At the same time, global electrification remains a focus, which could help metals like copper. However, exploration funding for other metals isn’t looking quite so rosy. “Will that be enough to push us into exploration budget growth this year? I would argue absolutely not,” he said. “The question really is going to be how far down we go this year, and if gold majors in particular are going to be increasing their budgets enough to counter what people see as being a pretty sour scenario for a lot of other commodities,” Murphy explained to the audience at PDAC. Whether or not the exploration funding cycle has bottomed remains to be seen.”Financing conditions continue to be incredibly challenging,” Murphy said. Click here to view the Investing News Network’s PDAC playlist on YouTube.Don’t forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

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