Joining us now before the earnings call first on CNBC is Alcoa CEO William Opinger. Uh Bill, it's great to have you back on the show. Welcome.>> Thanks, Morgan. How are you. >> Uh doing great.Want to talk to you about what you saw in the quarter and how that sets you up set you up sets you up for the rest of the year. Yo, the year though, especially since it looks like aluminina and aluminum production both increased. Uh but there is some noise because of trade dynamics.>> So let me let me talk about the qu ...

Joining us now before the earnings call first on CNBC is Alcoa CEO William Opinger. Uh Bill, it's great to have you back on the show. Welcome.>> Thanks, Morgan. How are you. >> Uh doing great.Want to talk to you about what you saw in the quarter and how that sets you up set you up sets you up for the rest of the year. Yo, the year though, especially since it looks like aluminina and aluminum production both increased. Uh but there is some noise because of trade dynamics.>> So let me let me talk about the qu ...

Core Insights - Private equity investors are increasingly participating in the global critical minerals market, with significant deals being made, including a $1 billion agreement between Appian Capital Advisory and the World Bank's International Finance Corporation (IFC) [1][2] Investment Details - The IFC will anchor the Appian–IFC Critical Minerals Fund with an initial investment of $100 million, with additional capital to be raised through its asset management division [2] - The fund will focus on equity, credit, and royalty investments in emerging markets, covering projects from construction to production stages [3] Strategic Importance - Critical minerals are essential for industrial development, job creation, and economic growth, as highlighted by IFC's managing director Makhtar Diop [3][4] - The partnership aims to attract private capital to regions in need, enhancing access to critical resources and benefiting local communities [4] Flagship Project - The fund's first investment is in Atlantic Nickel's Santa Rita mine in Brazil, which is transitioning to underground production and is one of the largest open-pit nickel sulfide operations globally [5] - The mine is expected to produce 30,000 tons of nickel equivalent annually, with a lifespan exceeding 30 years, and is crucial for electric vehicle batteries and defense technology [5] Industry Context - Appian has a strong track record, having brought 12 mining projects into production since 2016, outperforming the five largest global producers during the same period [8] - The current commodity bull market presents competition with governments for investment opportunities [8] Government Engagement - Veteran mining executive Brian Menell emphasizes the need for Western governments to accelerate efforts in securing critical mineral supply chains to compete with China [9] - Menell's firm, TechMet, has received approximately $105 million from the U.S. International Development Finance Corporation [10]

Core Insights - The White House is making strategic investments in companies like MP Materials, Lithium Americas Corp, and Trilogy Metals Inc. to address the growing importance of critical minerals for future energy demands [1] - The demand for base metals is increasing due to technological advancements, particularly in AI, which require infrastructure hardware such as aluminum and steel, as well as metals like copper and silver for their electrical conductivity [2] - The World Economic Forum predicts that global natural resource consumption may increase by 60% by 2060 compared to 2020 levels, highlighting the urgency of the White House's investments in critical minerals [3] Investment Opportunities - Investors can gain exposure to companies benefiting from critical minerals demand through individual stock research or by investing in ETFs like the Sprott Critical Materials ETF (SETM) [4] - The SETM tracks the Nasdaq Sprott Critical Materials Index, which includes mining companies involved in the production of essential metals such as uranium, lithium, copper, nickel, silver, manganese, cobalt, graphite, and other rare earth elements [5] - Other investment options include the Sprott Physical Silver Trust (PSLV) for silver and the Sprott Lithium Miners ETF (LITP) for lithium, both of which are positioned to capture growth in their respective markets [6] Broader Exposure Options - The Sprott Active Metals & Miners ETF (METL) offers active exposure to a diverse range of metals, including critical materials, steel, platinum, and palladium, providing a broader investment mandate [8]

Geopolitics and Competition - A US-backed mining investor warned that Washington must outspend Beijing on critical minerals projects to challenge China's dominance of global supply chains [1] Supply Chain - China's dominance of global critical minerals supply chains is a concern [1]

Core Insights - The U.S. Department of War is investing in a 100 metric ton-per-year advanced gallium refinery in Western Australia, marking a significant step towards self-reliance in critical minerals processing [2][4] - G50 Corp. Limited is advancing its Golconda project in Arizona, which is recognized as the most advanced gallium project in the U.S., with recent drilling confirming a large polymetallic discovery [3][4] Investment and Infrastructure - The agreement signed by U.S. President Donald J. Trump and Australian Prime Minister Anthony Albanese represents the first major investment by a Western government in gallium refining infrastructure [2] - The investment aims to address the challenges in sourcing, mining, and refining gallium, particularly given China's control over 98% of global production and recent export restrictions [4] Project Development - G50's Golconda Project has shown promising results from its Phase 2 drilling program, revealing over 700 meters of polymetallic resources, including gold, silver, zinc, and gallium [3] - The strategic location of the Golconda Project is expected to play a crucial role in supplying strategic metals to the U.S. and integrating into domestic supply chains [4]

Core Viewpoint - Adamera Minerals Corp. is offering its Talisman Copper-Silver-Tungsten Property for joint venture, highlighting the project's potential for exploration due to increased demand for critical minerals, despite it not being core to the company's business [1] Group 1: Project Overview - The Talisman Property includes the historic Talisman tungsten mine and has reported mineral grades of 0.35–1.0% WO₃ [1] - The property has shown significant mineralization of copper, silver, lead, zinc, and bismuth, with high-grade copper and silver averaging 5% and 103 g/t respectively [3][4] - Historical production of tungsten at the Talisman Mine was significant during World War II, supplying strategic materials for military applications [3] Group 2: Mineralization and Exploration - Recent exploration has identified a polymetallic mineralized system that extends beyond the old tungsten mine workings, indicating potential for a larger deposit [3] - Surface sampling and geophysical interpretation suggest that mineralization of copper, silver, zinc, and lead extends well beyond the historic mine, with significant values reported [4][5] - The mineralized corridor is approximately 1.5 kilometers long, with multiple magnetic anomalies coinciding with surface mineralization [5] Group 3: Future Plans - The company plans to conduct a drill program to test beneath and along the strike of the former mine workings, targeting high-grade scheelite zones and associated copper-silver-bearing sulphides [6] - A systematic soil and rock geochemistry study focusing on tungsten and a detailed electromagnetic survey are also planned [6] - The Talisman Property is recognized as a strategic exploration asset in a geopolitically secure jurisdiction, with the company seeking joint venture proposals to continue exploration while focusing on its gold assets [6]

Geopolitics and Supply Chains - The US and Australia have signed an agreement to enhance America's access to rare earths and other critical minerals [1] - The pact aims to counter China's dominance over critical mineral supply chains [1]

So let's unpack for us what is seen as a pretty positive outcome, to say the least, for Prime Minister Anthony Albanese. But what are you expecting next in terms of follow through from here on out. Well, what I liked about this deal was that it said it set a six month timeline.So it shows that both the US and Australia are serious about getting after this problem in the short term. It also reflects how there were supply chains shortages this year in the United States. For example, Ford Motor Company said th ...

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