Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Freeport-McMoRan Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements related to safety practices at its Grasberg Block Cave mine in Indonesia [1][3]. Group 1: Allegations - The complaint alleges that Freeport-McMoRan did not adequately ensure safety at the Grasberg Block Cave mine, which heightened the risk of worker fatalities [3]. - It is claimed that the lack of proper safety precautions led to undisclosed regulatory, litigation, and reputational risks for the company [3]. - The statements made by the defendants regarding Freeport-McMoRan's business operations and prospects were materially false and misleading, lacking a reasonable basis during the class period [3]. Group 2: Class Action Details - The class period for the lawsuit is defined as February 15, 2022, to September 24, 2025 [3]. - Shareholders are encouraged to register for the class action by January 12, 2026, to be eligible for potential recovery [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [4]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit and illegal business practices [5]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements that inflated stock prices [5].

For U.S. mining investors, shifts in federal policy — particularly during the Donald Trump administration — have reshaped how capital evaluates large domestic projects. In an exclusive email interview with Benzinga, John Shively, CEO of Pebble Limited Partnership, said executive orders and regulatory signals from the Trump era marked a meaningful change in tone compared with the Obama and Biden administrations.Track rare earth investment via REMX here.That change has potential implications for investment co ...

Group 1: China's Dominance in Mineral Processing - China's dominance in mineral processing, rather than mining, is becoming a critical factor in the global competition for essential resources like copper [1] - China has made strategic decisions to secure every stage of the mineral supply chain, giving it a significant advantage in refining and processing [2][3] - The U.S. imports approximately 60% of its copper, and this reliance is expected to increase if domestic projects like Pebble Mine are not allowed to proceed [2][5] Group 2: Implications for U.S. Copper Industry - The limited domestic processing capacity in the U.S. poses challenges for large copper producers, affecting long-term output and margin visibility [4] - Pebble Mine is highlighted as a crucial undeveloped mineral prospect in the U.S., especially as copper is now recognized as a critical mineral [5] - Regulatory uncertainty has been identified as a barrier to investment in the U.S. mining sector, impacting capital allocation for large projects [7] Group 3: Investor Interest and Market Dynamics - Investors are increasingly interested in broader exposure to the copper sector through ETFs, reflecting the impact of regulatory and supply-chain developments [6] - The future role of copper is acknowledged as critical, raising questions about whether the U.S. will recognize its importance as China has [8]

Core Insights - Canada One Mining Corp. has made significant progress in 2025 at its Copper Dome Project, including the granting of a five-year drilling permit and strategic property expansion to over 12,800 hectares, indicating strong discovery potential for copper mineralization [2][3][10] Project Highlights - The five-year exploration drilling permit allows for a structured multi-year exploration plan, reducing risks associated with future exploration timelines [3] - The project footprint has been expanded to 12,833 hectares through strategic staking and acquisition, consolidating land for exploration [4][10] - Fieldwork in the fall established 53 documented field stations and identified copper sulphide mineralization, reinforcing the potential for porphyry-style mineralization [4][10] Upcoming Catalysts - Rock sample assay results are expected in Q1 2026, with additional events such as the Vancouver Resource Investment Conference and AME Roundup 2026 scheduled for January 2026 [5] - Further exploration activities are planned to commence in Q2 2026 [5] Geological Context - The Copper Dome Project is situated in the lower Quesnel Trough porphyry belt, adjacent to Hudbay Minerals Inc.'s Copper Mountain Mine, which has proven and probable reserves of 702 million tonnes grading 0.24% Cu, 0.09 g/t Au, and 0.72 g/t Ag [5][10] - Historical drilling has confirmed high-grade copper associated with structures similar to those at Copper Mountain, enhancing the project's attractiveness [5][10] Technical Work Completed - The exploration program included 51 km of induced polarization (IP) and airborne magnetic and electromagnetic coverage over approximately 50% of the property [11] - A total of 2,253 soil samples and 378 rock samples were collected, along with over 8,900 meters of diamond drilling and more than 1 km of trenching [11]

Group 1 - Australia's copper production is forecast to decline in 2025 to 710 kilotonnes (kt) due to operational disruptions at key mines, including the permanent closure of the Mount Isa mine and ongoing development activities at Cadia and Boddington [1] - The decline in production is further exacerbated by ore depletion at mature mines such as Nova Bollinger, Osborne, and Deflector, which will collectively impact the country's copper output [1] Group 2 - In 2026, copper output is projected to recover as major mines return to steady-state production, with Cadia and Boddington expected to resume regular output following the completion of development and maintenance activities [2] - The recovery will be supported by improving operational efficiency across existing assets, with capital programs implemented during 2024-2025 beginning to deliver productivity gains [2] - Beyond 2026, Australia's copper production outlook remains positive, driven by a robust pipeline of brownfield expansions and greenfield developments, with significant capital commitments from major producers like BHP [2] Group 3 - Overall, Australia's copper production is forecast to grow at a CAGR of 7.3% between 2025 and 2035, reaching 1,432.7 kt by the end of the period [3] - Growth will be supported by the commissioning of projects such as the Nifty open pit, Jervois Copper, Cadia Expansion 2, Elizabeth Creek, and the large-scale Eva Copper project, reinforcing Australia's position as a key global copper supplier amid rising energy-transition-driven demand [3]

Core Viewpoint - Copper prices have surged significantly in 2025, driven by supply disruptions and tariff fears, leading to a tight but fragile market heading into 2026 [1][2]. Supply Dynamics - Year-long disruptions at major mines such as Grasberg, Kamoa-Kakula, and El Teniente have contributed to supply strains, with some mines not expected to recover output levels until 2027 or later [6][8]. - Analysts estimate that around 730,000 to 830,000 tonnes of copper were diverted into US warehouses in October 2025, tightening global supply and driving premiums higher [3][4]. - The term "economically trapped" describes copper that remains in the US due to current market conditions, indicating a lack of incentive to remove it from storage [4]. Demand Trends - Demand growth is strong on paper, particularly due to expectations surrounding electric vehicles and broader electrification, but actual near-term consumption has lagged, especially in China [9]. - High premiums have led some buyers to seek cheaper alternatives, although the market remains tight rather than broken [9]. Market Sentiment and Volatility - The copper market is experiencing volatility driven by macroeconomic factors, including trade policies and stimulus expectations, with potential new tariffs from the Trump administration adding uncertainty [10][20]. - Analysts warn that sudden policy shifts could lead to sharp price swings, affecting not only copper but the broader market [22]. Long-term Outlook - Analysts predict that copper demand could triple by 2045 due to the energy transition, with a structural deficit potentially emerging as early as 2026 [12][16]. - Without significant investment in new projects and recycling, the deficit could reach 19 million tonnes by 2050 [12]. - The market is expected to remain tight in 2026, with key variables including trade flows into the US, recovery at major mines, and the global economic outlook [20][21].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Freeport-McMoran Inc. related to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by January 12, 2026 [1][3]. Group 1: Allegations Against Freeport-McMoran - The complaint alleges that Freeport and its executives made false and misleading statements regarding safety at the Grasberg Block Cave mine in Indonesia [3]. - It is claimed that Freeport did not adequately ensure safety, leading to a heightened risk of worker fatalities, which was not disclosed to investors [3]. - The allegations include that the company's statements about its business operations and prospects were materially false and lacked a reasonable basis [3]. Group 2: Impact of Incidents on Stock Price - On September 9, 2025, Freeport suspended mining activities after an incident trapped seven workers, resulting in a stock price drop of $2.77, or 5.9%, closing at $43.89 per share [4]. - Following an update on September 24, 2025, revealing two fatalities among the trapped workers, Freeport's stock fell by $7.69, or 17%, to close at $37.67 per share [5]. - An article published on September 25, 2025, indicated that the halt in production could strain Freeport's relationship with the Indonesian government, causing the stock to drop by $2.33, or 6.2%, to close at $35.34 [6]. Group 3: Expert Opinions and Legal Proceedings - An article published on September 28, 2025, suggested that the landslide incident at Freeport was preventable and should have been anticipated [7]. - The court-appointed lead plaintiff will be the investor with the largest financial interest in the case, who will oversee the litigation on behalf of the class [7]. - Faruqi & Faruqi encourages individuals with information regarding Freeport's conduct to come forward, including whistleblowers and former employees [8].

Report Industry Investment Rating No information provided in the content. Core Viewpoints of the Report - The core contradiction this week lies in the impact of the US non-farm payroll data and unemployment rate on the probability of interest rate cuts, the supply-demand relationship in the copper market, and the confirmation of the tight supply of copper mines in 2026. Looking ahead to next week, macroeconomic data will affect market sentiment and copper prices. The strategy is to follow the trend if there is a breakthrough; otherwise, buy at low levels within the range [2][3]. - Cathode copper is currently in the mid - stage of an uptrend with a neutral cycle, while LME copper is in the late stage of an uptrend at a high cycle level, and there is a risk of a pullback. The risk - return ratios for going long on SHFE copper and LME copper are low, so caution is advised [3]. Summary by Relevant Catalogs 1. Core Contradiction and Strategy Suggestion 1.1 Core Contradiction - **Macroeconomic Aspect**: The US non - farm payroll data and unemployment rate exceeded market expectations, slightly increasing the probability of interest rate cuts. The probability of a 25 - basis - point interest rate cut by the Fed in January 2026 is 26.6% (24.4% the previous week), and the probability of keeping interest rates unchanged is 73.4%. By March 2026, the probability of a cumulative 25 - basis - point cut is 46.8%, the probability of keeping interest rates unchanged is 41.8%, and the probability of a cumulative 50 - basis - point cut is 11.5%. Next week, the release of macroeconomic data such as the US initial jobless claims and core PCE price index will affect market sentiment [2][3]. - **Fundamental Aspect**: Near the end of the year, holders of copper have a stronger willingness to destock. In the context of increasing electrolytic copper production from November to December, the sellers' willingness to sell continues to rise, while downstream processing enterprises are still hesitant to buy at high prices, resulting in limited spot price increases. The LME copper cancelled warrants remain above 60,000 tons, supporting the rebound of the copper premium in China's bonded area. The export window is still open. The 2026 copper long - term TC/RC, announced over the weekend, is set at $0/ton and 0 cents/pound, confirming the tight supply of copper mines in that year [2]. 1.2 Trading - Type Strategy Suggestion - **Trend Judgment**: Cathode copper is in the mid - stage of an uptrend with a neutral cycle; LME copper is in the late stage of an uptrend at a high cycle level, and attention should be paid to the risk of a pullback. The risk - return ratio for going long on SHFE copper is 0.69% (low risk - return ratio), and for LME copper is 0.71% (low risk - return ratio), so caution is advised [3][14]. - **Price Range**: The price range for SHFE copper is [89,735, 95,178], with a price center of 92,457; for LME copper, it is [11,303, 12,145], with a price center of 11,724 [14]. - **Strategy Suggestion**: Follow the trend if there is a breakthrough; otherwise, buy at low levels within the range [3]. - **Basis, Calendar Spread, and Arbitrage Strategy**: The basis strategy is to expect it to strengthen. On December 19, the basis was - 565 yuan/ton, in the lowest 10% of historical quantiles, and the probability of an expansion in the next 1 - 2 weeks is 82.3%. The calendar spread strategy is neutral, with the main fluctuation range of the spread between the first - and third - month contracts being [- 90, 260], and the current spread is - 40. The cross - border spread is within the normal range, and it is recommended to wait and see. The current SHFE - LME ratio is 7.89, at the 43.3% historical quantile (lower than last week) [14][16]. 1.3 Enterprise Hedging Strategy Suggestion - **Inventory Management**: For enterprises with high finished - product inventory worried about price drops, when the expected price has strong resistance at 95,000 yuan/ton and the lower limit is 90,000 yuan/ton, they can short the SHFE copper main contract at the resistance level, build positions at high prices, and stop losses if the price breaks through. They can also sell call options or buy put options but should wait and see for now. - **Raw Material Management**: For enterprises with low raw - material inventory worried about price increases, when the expected price has strong support at 90,000 yuan/ton, they can buy the main contract futures near the support level. They can also buy up - and - out cumulative options in the range of 90,000 - 94,000 yuan/ton [20]. 1.4 Review of Trading and Hedging Strategies - The previous long futures hedging positions bought at low levels can continue to be held. Those who have not hedged may have missed the ideal hedging price. If they are in a hurry to purchase, they can consider the "sell put option + buy call option" combination to synthesize a long strategy [25]. 2. This Week's Important Information and Next Week's Key Event Interpretation 2.1 This Week's Important Information - **Positive Information**: On December 20, Chinese smelters and Antofagasta set the 2026 copper concentrate long - term processing fee Benchmark at $0/ton and 0 cents/pound. From January to October 2025, the global refined copper market had a surplus of 122,000 tons, less than the 261,000 - ton surplus in the same period last year. Global copper demand growth forecasts have been revised upward, with the 2025 growth rate expected to increase from 2.4% to 2.7%. China's demand expectation has been raised from 3.3% to 3.7%, and demand outside China has been raised from 1.0% to 1.2%. Institutions expect the 2026 market to remain slightly in surplus, with the surplus potentially expanding in 2027, and the market to return to a structural shortage by 2030 [28][29][30]. - **Negative Information**: In November 2025, the domestic copper rod output was 106,210 tons, a 7.87% increase from October, and the comprehensive capacity utilization rate was 54.08%, a 3.95% increase from the previous month. The Chinese copper industry monthly prosperity index in November was 39.7, a 2 - point decrease from the previous month, and continued to operate in the "normal" range. The LME plans to implement new position limit regulations from July next year. The probability of a 25 - basis - point interest rate cut by the Fed in January 2026 and cumulative cuts by March 2026 has been adjusted [30][31][32]. 2.2 Next Week's Key Event Interpretation Next week, many macroeconomic indicators will be released, including the UK GDP year - on - year, US PCE price index, initial jobless claims, etc., which will affect market sentiment on copper prices [34]. 3. Interpretation of Price, Volume, and Capital on the Disk 3.1 Domestic Market Interpretation This week, the trading volume and open interest of the SHFE copper weighted index decreased significantly, and the market speculation degree dropped below the mid - line. The price of the SHFE copper main contract fluctuated around 92,579 yuan/ton, with a weekly increase of 0.57% and an amplitude of 3.95%, and closed at 93,180 yuan/ton on Friday [35][36]. 3.2 Overseas Market Interpretation This week, the overseas copper futures performed better than the domestic market. The Comex copper price reached a one - month high on Friday night and then pulled back, while the LME copper price maintained an uptrend with a small amplitude. The LME copper price mainly fluctuated in the range of [11,536.5, 11,928] dollars/ton, increased by 1.58% week - on - week, and closed at 11,870.5 dollars/ton. The Comex copper price mainly fluctuated in the range of [531.75, 556.55] cents/pound, increased by 1.41% week - on - week, and closed at 548.35 cents/pound. The LME copper term structure has gradually changed from contango to backwardation, and the positive spread between months has widened negatively. The open interest of the Comex copper active contract remains at a high level in the same period [35][38]. 4. Analysis of Spot Price and Profit 4.1 Spot Price and Smelting Profit In the second half of this week, the electrolytic copper spot price strengthened, but the discount widened. The scrap copper market showed "higher prices but less volume", and the invoice situation in Guangdong and Jiangxi was tight, increasing the capital cost pressure on scrap copper enterprises. The purchasing and selling sentiment in the electrolytic copper spot market changed. The smelting income of refined copper increased week - on - week [42][43]. 4.2 Import Profit and Import Volume This week, the copper import profit and scrap copper import profit increased significantly year - on - year, and domestic enterprises' willingness to import copper is expected to increase. The Yangshan copper premium in the bonded area has been rising, which will continue to support smelters' copper exports. It is expected that the copper inventory in the bonded area will remain balanced. It is estimated that China will import 2.6 million physical tons of copper ore and concentrates in December 2025, with an annual import volume of 30.26 million physical tons, a year - on - year increase of 7.43% [45][46]. 4.3 Inventory Analysis This week, the "siphon effect" of the Comex copper inventory still exists. The domestic copper inventory increased year - on - year, and the LME copper inventory decreased year - on - year. The LME copper cancelled warrants remained above 60,000 tons but decreased compared to the previous week, while the LME copper registered inventory increased significantly. The total Comex copper inventory increased, and the registered inventory continued to rise, indicating that holders continued to sell on the disk [49]. 5. Supply - Demand Deduction and Price Expectation 5.1 Supply Deduction - **Global Perspective**: In 2025, the global copper concentrate production is expected to be 19.871 million metal tons, with an actual copper rough - smelting output of 20.154 million metal tons, and the global copper concentrate supply - demand balance is - 166,000 metal tons. In 2026, the global copper concentrate production is expected to be 20.441 million metal tons, with an actual copper rough - smelting output of 20.664 million metal tons, and the global copper concentrate supply - demand balance is - 331,000 metal tons [55]. - **Domestic Perspective**: In November, China's electrolytic copper production was 1.1031 million tons, a 1.05% month - on - month increase and a 9.75% year - on - year increase. The cumulative production from January to November was 12.2545 million tons, a 11.76% year - on - year increase. In December, it is expected that 4 smelters will be under maintenance, with an expected impact of 0.5 million tons. It is estimated that the electrolytic copper production in December will be 1.1688 million tons, a 5.96% month - on - month increase and a 6.69% year - on - year increase [56][57]. 5.2 Demand Expectation In November, the domestic copper product output was 1.7879 million tons, slightly lower than expected, and the comprehensive copper product operating rate was 61.6%, a 3.8% month - on - month increase. Except for the recycled copper rod industry, the operating rates of other industries increased. In December, it is expected that the operating rates of most industries will continue to increase slightly. The expected copper product output, copper rod output, copper strip output, copper tube output, and copper rod output are likely to increase month - on - month, and the apparent consumption of electrolytic copper will also increase month - on - month [59][60][61]. 5.3 Price Expectation This Friday, the market sentiment was high, and the copper price increased significantly, especially in the Comex copper market, where the price reached a one - month high. The copper price can either rise or fall at the current level. From the perspective of the 2026 long - term TC/RC announced over the weekend, the confidence of funds to buy at low levels will be re - stimulated, and the probability of the copper price breaking through again will increase. If the breakthrough is less than expected and the market returns to a volatile situation, it is still advisable to buy at low levels within the range [65].

Core Viewpoint - Rosen Law Firm is reminding investors who purchased Freeport-McMoRan Inc. securities between February 15, 2022, and September 24, 2025, about the upcoming lead plaintiff deadline for a securities class action lawsuit [1]. Group 1: Class Action Details - Investors who bought Freeport-McMoRan securities during the specified Class Period may be eligible for compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - A class action lawsuit has already been filed, and those wishing to serve as lead plaintiff must file with the Court by January 12, 2026 [3]. - Investors can join the class action by visiting the provided link or contacting the law firm directly for more information [6]. Group 2: Law Firm Credentials - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a proven track record in securities class actions, highlighting their own success in this area [4]. - The firm has achieved significant settlements, including the largest securities class action settlement against a Chinese company, and has consistently ranked highly in terms of settlements since 2013 [4]. - In 2019, the firm secured over $438 million for investors, showcasing their capability in recovering funds for clients [4]. Group 3: Case Allegations - The lawsuit alleges that Freeport-McMoRan made false and misleading statements regarding safety at the Grasberg Block Cave mine in Indonesia, which posed a heightened risk to workers [5]. - It is claimed that the lack of proper safety measures led to undisclosed risks of regulatory, litigation, and reputational damage, affecting the company's business statements [5]. - The lawsuit asserts that when the true details became public, investors suffered damages due to the misleading information provided by the defendants [5].

Core Insights - C3 Metals Inc has reported promising results from its first drill hole at the Khaleesi target in southern Peru, located approximately eight kilometers west of the Montaña de Cobre resource, which contains 52 million tonnes at 0.5% copper and 0.2g/t gold [1][3] Summary by Sections Drill Results - The initial drill hole intercepted 269 meters at 0.3% copper, with additional by-product credits of gold, molybdenum, and silver [1][5] - A magnetite skarn zone was encountered, which increased the copper grade by 37% to 0.41% over a 60-meter interval [2][5] Geological Context - The Khaleesi project is situated in a world-class copper-producing belt, with proximity to major mines such as MMG's Las Bambas and Hudbay's Constancia [4] - The geological model includes a skarn on the western side and a batholith with porphyry-style mineralization on the eastern side, with glacial till in between [6] Future Exploration Plans - The company plans to conduct a total of 6,000 meters of drilling, with adjustments made based on visual information and mineralization observed during drilling [7][8] - The identification of the magnetite skarn beneath the glacial till allows for the potential extension of mineralization closer to the surface, which could improve future mine planning [8] Economic Considerations - The company emphasizes the importance of understanding tonnage and grade economics from the outset, with ongoing assessments based on geological mapping and geophysical data [9][10] - The target remains large, and the company is optimistic about the results from the first hole, with additional drilling planned [10]