The UK stock market's FTSE 100 is up firmly in positive territory Friday morning, led by gains in the mining sector. Investors are also reacting to a slew of earnings news and other corporate announcements. Data showing an unexpected drop in consumer confidence is limiting market's upside.The benchmark FTSE 100, which advanced to 10,914.18, a new record high, was up 43.34 points or 0.4% at 10,890.04 a few minutes ago.RightMove, up 4.2%, tops the list of gainers in the FTSE 100 index. The stock is up after ...

Is M&A still the answer for Rio Tinto? ... this investment bank thinks so Proactive uses images sourced from Shutterstock Citi says Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) is still “searching for a differentiator” in its investment case. and, for many investors, the view will be “most routes lead through M&A”. The innvestment bank's analysts argue Rio’s latest results didn’t meaningfully reset expectations, coming “just a couple of months after the CMD in Dec and after the aborted talks with Glencore ...

Vancouver, British Columbia--(Newsfile Corp. - February 25, 2026) - Group Eleven Resources Corp. (TSXV: ZNG) (OTCQB: GRLVF) (FSE: 3GE) ("Group Eleven" or the "Company") is pleased to announce additional assays from 25-3552-51 (initial assays announced 19-Jan-2026), plus results from two other holes drilled at its Ballywire discovery ("Ballywire") at the 100%-owned PG West Project ("PG West"), Republic of Ireland.Highlights:25-3552-51 - Extends previous interval announced on 19-Jan-2026, totalling 29.9m of ...

Core Viewpoint - Astron Energy, a unit of Glencore, is set to deploy the bunkering tanker Pearl Kate to restore low-sulphur marine fuel supply along the South African coast following the seizure of another vessel by tax authorities, amid increased demand for refueling due to rerouted global shipping [1][2]. Group 1: Company Operations - The Pearl Kate is the third South African-flagged tanker introduced by Astron to recover lost refueling capacity after the South African Revenue Service seized the tanker Essien last March [2]. - The seizure of the Essien was contested in court, with claims that it was improperly declared and failed to pay required value-added tax [3]. - Astron is a leading producer of low-sulphur marine fuels at its Cape Town refinery, and its ability to produce and distribute these fuels is crucial for ongoing operations [6]. Group 2: Industry Context - The legal dispute arises from a broader tax crackdown by the South African Revenue Service in late 2023, which led to the detention of five vessels in Algoa Bay over alleged customs breaches [4]. - The enforcement actions have impacted operations in Algoa Bay, a key offshore refueling point for international shipping, affecting companies like Mercuria, Trafigura, and BP [5]. - The arrival of the Pearl Kate is expected to help rebuild the strained bunkering capacity in South Africa, which has been challenged by increased shipping activity along the Cape route due to geopolitical tensions [1][5].

Teck Resources Conference Call Summary Company Overview - **Company**: Teck Resources (NYSE: TECK) - **Industry**: Mining, specifically focused on copper and zinc operations Key Highlights 1. **Merger with Anglo American**: Teck is progressing towards a merger with Anglo American, which is expected to position the combined entity as a top five global copper producer with over 1.2 million tons of annual copper production supported by six world-class copper assets [3][4] 2. **Regulatory Approvals**: The merger has received completion and antitrust approvals from multiple jurisdictions including Canada, Chile, Australia, Japan, the EU, and the US, with only two approvals remaining [4] 3. **Operational Review**: A comprehensive operational review was completed, leading to a strong operational performance in 2025 and reaffirmation of annual production guidance for 2026 to 2028 [4][11] 4. **Financial Performance**: In 2025, Teck reported a 48% increase in Adjusted EBITDA to $4.3 billion, driven by higher copper prices and increased by-product revenue, resulting in an adjusted EBITDA margin of approximately 50% in Q4 [5][6] 5. **Shareholder Returns**: Teck returned $1.3 billion to shareholders through share buybacks and dividends in 2025, maintaining a robust balance sheet and returning to a net cash position by year-end [6] Operational Insights 1. **Quebrada Blanca (QB) Performance**: QB's quarterly copper production reached 55,000 tons, with significant progress on the TMF development work, expected to enable steady state operations by the end of 2026 [5][9] 2. **Production Guidance**: Teck reaffirmed its annual production guidance for 2026 to 2028, with expectations of further growth in copper production and significant operating cash flows [11][12] 3. **Copper Price Outlook**: The copper price reached record highs in Q4 2025, with a quarterly average exceeding $5 per pound, and a consensus price increase of 35% from $4 to $5.35 per pound for 2026 [13][14] Market Dynamics 1. **Demand Drivers**: The demand for copper is expected to outpace economic growth, driven by urbanization, electrification, and the expansion of the electrical grid, with a near double-digit CAGR anticipated through the end of the decade [16] 2. **Supply Constraints**: Existing mine production is expected to decline starting in 2027, with limited growth options beyond 2029, creating a compelling long-term outlook for copper [17][18] 3. **Investment Opportunities**: Teck plans to unlock additional copper production through optimization projects, including a potential increase of 175,000 tons per annum from processing higher-grade ore from Quellaveco [27] Strategic Focus 1. **Critical Minerals Strategy**: Teck has refocused its portfolio on critical minerals, exiting its energy and steelmaking coal businesses, and completing the QB2 project, which is expected to generate substantial cash flow for decades [18][19] 2. **Value Creation from Merger**: The merger with Anglo American is expected to deliver $800 million in annual corporate synergies and $1.4 billion in annual underlying EBITDA uplift from combined operations [20][21] 3. **Future Growth**: Teck aims to balance capital investment in growth projects with shareholder returns, focusing on high-return opportunities within the combined portfolio post-merger [29] Additional Considerations 1. **Chinese Regulatory Review**: The merger is undergoing a normal regulatory review process in China, with no anticipated changes to the expected timeline of 12-18 months for completion [32] 2. **Operational Stability**: The company is focused on maintaining operational stability and executing its plans effectively, with significant improvements noted in the TMF development work [24][25]

FTSE 100 Index soared to a record high thanks to these stocks - Invezz# FTSE 100 Index soared to a record high thanks to these stocks[Indices]Author[Crispus Nyaga]Feb 23, 2026, 09:22 AM- Other top gainers were companies like BAE Systems, Glencore, and Weir Group.- Beazley and Schroders are the top gainers in the index.- The FTSE 100 Index continued soaring this year.The FTSE 100 Index soared to a record high last week, continuing a strong bull run that started in April when it bottomed at £4,890. It soared ...

美银维持对铜价的强烈看好，预计铜价将达到15000美元/吨。该机构认为，当前正处于盈利上调周期的 第7个月，经过三年的下调后，不仅铜和黄金，煤炭、镍、锌也在迎来上调。投资者应关注这一板块的 配置机会，基金经理调查显示该板块已转为超配。 战略转向铜：行业共识已形成 美银研究团队在分析2025年业绩后发现，所有大型矿商都希望获得更多铜增长机会。 BHP已成为最典型案例——铜业务的盈利贡献现已超过铁矿石，成为集团最大盈利来源。BHP声称在大 型多元化矿商中，对铜价每磅上涨1美元的EBITDA敏感度最高。尽管BHP已是全球最大铜生产商，但 公司仍计划通过棕地和绿地项目组合，在2030年代中期将铜产量提升至超过200万吨/年。 美银证券在其最新发布的全球大型矿业公司研报中指出，一个明确的行业趋势正在形成：全球矿业巨头 正在集体转向铜资产。 在2025年业绩季后，美银分析师团队观察到，从BHP、力拓到嘉能可，几乎所有主要矿业公司都将铜 作为战略重点，资本支出正在大幅攀升，目前已恢复至此前峰值的50%以上。 在具体项目层面，BHP正在推进与Lundin Mining的Vicuña合资项目，第一阶段预计耗资70-80亿美元， ...

Core Viewpoint - Nuvau Minerals Inc. has amended the terms of its brokered private placement offering, aiming to raise up to $20 million through the issuance of units and flow-through shares [1][2]. Offering Details - The offering consists of up to 18,750,000 units priced at $0.80 per unit, targeting gross proceeds of up to $15 million [1]. - Additionally, the company plans to issue up to 5,555,555 flow-through common shares at $0.90 per share, aiming for gross proceeds of up to $5 million [2]. - The proceeds from the flow-through shares will be allocated to eligible Canadian exploration expenses, with at least 30% qualifying as flow-through critical mineral mining expenditures [2]. Related Party Transaction - A director of the company intends to sell up to 400,000 common shares to subscribe for an equivalent number of flow-through shares under the offering [4]. - This transaction is classified as a related party transaction under Multilateral Instrument 61-101, with the company relying on exemptions from formal valuation and minority shareholder approval requirements [5]. Closing Timeline - The closing of the unit offering is expected around February 24, 2026, while the flow-through offering is anticipated to close on or about March 6, 2026 [6]. - The completion of the offering is subject to certain conditions, including conditional approval from the TSX Venture Exchange [6]. Additional Information - The agents involved in the offering have an option to sell additional units or flow-through shares, potentially raising an extra $5 million in gross proceeds [7]. - Nuvau Minerals is currently in the exploration and development phase, with its principal asset being the right to earn a 100% interest in the Matagami property from Glencore [9].

Financial Data and Key Metrics Changes - Headline earnings per share for 2025 increased by 281% to ZAR 2.44 per share [57] - Adjusted EBITDA increased almost threefold, from ZAR 13 billion to just under ZAR 38 billion, a 189% increase [57] - Net debt to Adjusted EBITDA decreased from 1.77 times at the end of 2024 to 0.59 times at the end of 2025 [58] Business Line Data and Key Metrics Changes - Total full year PGM production reached 1.8 million ounces, aligning with guidance and stable year-on-year [21][22] - Underground production increased by 2% to over 1.6 million ounces, supported by improvements at Rustenburg [23] - Total production for gold operations was lower by 10% at 19.7 tons, with underground production reduced by 8% [27][28] Market Data and Key Metrics Changes - Gold spot prices broke the $4,500 mark during December, up 73% since the beginning of the year [65] - Platinum imports into the U.S. increased over 50% year-on-year, with significant flows driven by tariff uncertainty [66] - Lithium prices moved from low $7,000 per ton levels up to just over $16,000 per ton currently [68] Company Strategy and Development Direction - The company is focusing on simplification of operations and maximizing operating margins [3][4] - A disciplined capital allocation framework is in place, with a third towards shareholder returns, a third towards reducing gross debt, and a third towards growth [4] - The company aims for organic growth in its resource base, particularly in South Africa [4] Management's Comments on Operating Environment and Future Outlook - The management noted a significant change in the latter half of 2025, including a leadership transition and a strategic refresh [2][3] - The outlook for 2026 is positive, with expectations of additional earnings and cash flow improvements due to rising PGM prices [26] - The focus remains on embedding a culture of safety and accountability to eliminate fatal incidents [19][20] Other Important Information - The company declared a dividend of ZAR 1.31 per share, reflecting a 2% yield [14] - A settlement payment of $215 million was made regarding the Appian court case [7] - The renewable energy program aims to reduce emissions by 40% by 2030, with significant savings expected [45][46] Q&A Session Summary Question: What were the key financial highlights for 2025? - The headline earnings per share increased by 281% to ZAR 2.44, and adjusted EBITDA rose by 189% to just under ZAR 38 billion [57][58] Question: How did the company perform in terms of production? - PGM production reached 1.8 million ounces, while gold production was lower by 10% at 19.7 tons [21][27] Question: What is the outlook for commodity prices? - Gold prices are expected to remain strong, with PGM prices having reset at a higher base [69]

Sibanye Stillwater (NYSE:SBSW) H2 2025 Earnings call February 20, 2026 02:00 AM ET Company ParticipantsCharl Keyter - CFOCharles Carter - COOGrant Stuart - VP of RecyclingJames Wellsted - Senior VP of Investor RelationsKleantha Pillay - Senior VPMelanie Naidoo-Vermaak - Chief Sustainability OfficerNeal Froneman - CEORalph Memory - Head of Projects and WaterRichard Stewart - COORobert van Niekerk - EVPNone - Company RepresentativeConference Call ParticipantsAdrian Hammond - Equity Research AnalystChris Nicho ...