FDA Greenlights Eli Lilly Drug, Glencore Revives Copper Mine as Geopolitical Headwinds Mount

Group 1: Eli Lilly and Company - Eli Lilly has received full FDA approval for pirtobrutinib (Jaypirca) for adults with relapsed or refractory chronic lymphocytic leukemia or small lymphocytic lymphoma who have previously been treated with a covalent BTK inhibitor [2] - The approval expands the drug's label to include patients earlier in their treatment course and converts a December 2023 accelerated approval to a traditional approval [2] - Jaypirca is the first and only FDA-approved non-covalent BTK inhibitor, with the expanded indication based on results from the Phase 3 BRUIN CLL-321 trial [2] Group 2: Glencore - Glencore plans to restart operations at its Alumbrera copper mine in Argentina by late 2026, with initial production expected in the first half of 2028 [3] - The company aims to significantly increase copper output to 1 million tons annually by the end of 2028 and approximately 1.6 million tons by 2035 [3] - The Alumbrera mine is projected to produce around 75,000 tonnes of copper, 317,000 ounces of gold, and 1,000 tonnes of molybdenum over four years [3] - Glencore has adjusted its 2026 copper production guidance downwards to 810,000–870,000 tonnes from a previous target of 930,000 tonnes due to setbacks at its Collahuasi mine in Chile [3] Group 3: Geopolitical Developments - Belgium has expressed significant reservations regarding the EU's plan to use frozen Russian central bank assets as collateral for a loan to Ukraine, citing unaddressed economic, financial, and legal risks [4] - The Belgian government fears being asked to bear the risks of this operation alone, particularly as most of the estimated €190-200 billion in Russian assets are held by Euroclear, a Brussels-based financial clearinghouse [4] Group 4: U.S. Political Landscape - U.S. Secretary of War Pete Hegseth is under scrutiny for endangering troops by using the Signal app to discuss classified military strike plans [5] - A watchdog investigation found that classified information was shared in an unclassified group chat that included a journalist, despite denials from Hegseth and the Pentagon [5] - House Speaker Mike Johnson faces increasing pressure from within his party, with prominent Trump ally Elise Stefanik criticizing his leadership and control over House Republicans [6]