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Core Viewpoint - Freeport-McMoRan's stock has declined 37% from its all-time high despite copper prices nearing an all-time high, indicating a potential investment opportunity amid market downturns [1] Group 1: Reasons for Stock Decline - The stock's performance is disconnected from copper prices due to two main factors that appear unjustified [2] - A fire at a newly opened smelter in Indonesia has led to operational challenges, including a potential export ban on copper concentrate starting January 1, 2025, requiring permits for exports [3] - The Indonesian government has issued a six-month permit for Freeport to export concentrates while repairs are made to the smelter [4] - Concerns over the recent rise in U.S. copper prices being driven by speculative buying ahead of potential tariffs may have contributed to the stock's decline [5] Group 2: Company Positioning - Freeport-McMoRan is strategically positioned to benefit from U.S. production initiatives and tariff conflicts, with plans for brownfield expansions in Arizona expected to add 650 million pounds of copper annually [6][7] - The company's U.S.-focused leaching initiative aims to recover 800 million pounds of copper annually by 2030, contributing to a projected total production of 4 billion pounds in 2025 [8] Group 3: Long-term Demand for Copper - Copper is essential for various modern economic trends, including electric vehicles, renewable energy, and the Internet of Things, all of which are part of the "electrification of everything" megatrend [9][10] - While individual demand drivers may experience temporary weaknesses, the overall demand for copper is expected to remain strong [11] Group 4: Investment Opportunity - The combination of rising copper prices, favorable volume growth outlook, and long-term demand trends makes Freeport-McMoRan an attractive stock to consider for investment [12] - The current disconnect between the falling stock price and rising copper prices presents a potential opportunity for investors [13]

Core Viewpoint - Hudbay Minerals Inc. has entered into an agreement to acquire Mitsubishi Materials Corporation's 25% interest in Copper Mountain Mine for US$4.5 million upfront and up to US$39.75 million in deferred payments, enhancing its position in the North American copper market [1][2]. Financial Details - The total cash consideration for the transaction includes US$4.5 million payable at closing, US$21 million in seven annual deferred payments of US$3 million each, and up to US$18.75 million in contingent payments based on operational thresholds [8]. - The company will also assume approximately US$104 million in outstanding obligations related to Copper Mountain Mine [1]. Strategic Implications - The acquisition aligns with Hudbay's strategy to grow copper production in mining-friendly jurisdictions and simplifies the ownership structure of Copper Mountain [2]. - The transaction is expected to enhance Hudbay's credit base, as Copper Mountain Mine will become a wholly owned subsidiary [5]. Production Outlook - Copper Mountain Mine is projected to produce 60,000 tonnes of copper by 2027, representing a more than 200% increase from 2024 production levels [7][11]. - The mine has current mineral reserves estimated at 346 million tonnes at 0.25% copper, supporting a mine life until 2043 [9]. Operational Enhancements - Since acquiring Copper Mountain in June 2023, Hudbay has focused on operational stabilization and optimization, achieving high mill availability of 92% and copper recoveries of 82% in 2024 [10]. - Planned improvements include converting the third ball mill to a second SAG mill, which is expected to increase mill throughput to 50,000 tonnes per day by 2026 [10]. Long-term Relationships - Hudbay intends to maintain a long-term relationship with Mitsubishi Materials Corporation, with MMC secondees continuing to contribute to Copper Mountain for five years post-transaction [4][8].

Core Viewpoint - J.P. Morgan analyst Bill Peterson upgraded Freeport-McMoRan, Inc. to an Overweight rating, raising the price forecast to $52 from $48, driven by tariff-related factors and long-term supply constraints supporting premium pricing for U.S. operations [1] Group 1: Tariff and Pricing Impact - Since the announcement regarding the assessment of U.S. copper imports as a national security risk, COMEX copper has maintained an average premium of approximately 10% over LME prices [2] - The ongoing review is expected to conclude by November 22, which may lead to protective measures for U.S. copper imports [3] Group 2: Financial Contributions and Positioning - Freeport-McMoRan's U.S. operations contribute around 10% of its operating profit for FY24 and 20% of post-tax earnings due to net operating loss benefits [3] - The company is well-positioned compared to peers to capitalize on near-term upside opportunities, even if protective policies do not materialize [4] Group 3: Long-term Outlook - The Commodities team projects widening supply deficits this year and into the next decade, reinforcing a favorable long-term outlook for copper pricing [5] - The expected resumption of concentrate exports and record gold prices are anticipated to boost by-product credits at the Grasberg mine [4]

Gold Royalty Corp. (NYSE:GROY) Q4 2024 Earnings Conference Call March 20, 2025 11:00 AM ET Company Participants David Garofalo - Chairman & CEO Andrew Gubbels - CFO Jackie Przybylowski - VP, Capital Markets Peter Behncke - Director, Corporate Development & IR Conference Call Participants Heiko Ihle - H.C. Wainwright Eric Winmill - Scotiabank Operator Welcome to the Gold Royalty Corp. Fourth Quarter 2024 Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] After to ...

Core Insights - NevGold Corp. has staked an additional 147 claims, covering approximately 1,000 hectares or 10 square kilometers, at the Zeus Copper Project in Idaho, indicating strong geological prospectivity [1][4] - The Zeus Copper Project shares geological similarities with Hercules Metals Corp.'s copper porphyry discovery, including comparable soil survey geochemical results [1][4] Company Developments - The Zeus Copper Project now encompasses 392 claims, totaling approximately 2,900 hectares or 29 square kilometers, in the Hercules Copper Trend [4] - The newly staked claims are underlain by the Lower Huntington Formation and Triassic age intrusive rocks, both known to host copper mineralization [4][6] - The CEO of NevGold expressed satisfaction with the acquisition of additional ground, highlighting the strategic importance of the area adjacent to Barrick Gold Corp.'s established claim block [3][4] Exploration Activities - NevGold plans to continue its active exploration program at the Zeus Copper Project in 2025, which includes geological mapping, surface geochemical sampling, and a ground geophysical program [8] - The company is preparing an application for a drill permit and aims to drill test copper targets identified through ongoing exploration activities [8]

PALM BEACH, Fla., March 19, 2025 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to a report from Grand View Research, the global nickel mining market size was estimated at USD 50.40 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless ...

Group 1: Copper Market Outlook - Goldman Sachs forecasts a surge in U.S. copper imports due to expected tariffs, predicting a 25% duty on copper imports by year-end, which could lead to a 50-100% increase in net copper imports, adding 200,000 to 300,000 metric tons to domestic inventories by Q3 [1][2] - If this projection holds, U.S. copper stockpiles could rise from 95,000 tons to as much as 400,000 tons, representing around half of global reported inventories, resulting in historically low international market inventory levels [2] - For 2025, Goldman anticipates a global copper deficit of 180,000 tons driven by increased demand for electrification, economic stimulus in China, and slow mine growth, with a more pronounced supply imbalance in the second half of the year likely to catalyze higher prices [3] Group 2: Freeport-McMoRan Insights - Freeport-McMoRan, the largest U.S. copper producer, stands to benefit from the anticipated tariff scenario, especially if copper is designated as a critical mineral, which could unlock over $500 million annually in tax credits under the Inflation Reduction Act [4][5] - The company operates seven copper mines and one of two domestic copper smelters in the U.S., positioning it as a key supplier amid potential import restrictions, although higher production costs domestically due to lower ore grades necessitate policy support [6] - Freeport expects an 8% increase in U.S. copper production by 2025, with plans to double concentrator capacity at its Bagdad operation in Arizona, potentially adding 200-250 million pounds of copper annually [7] Group 3: Strategic Considerations - CEO Kathleen Quirk expressed optimism regarding the Trump administration's potential actions to support domestic production, emphasizing the importance of federal tax incentives for the copper industry [5] - Quirk also indicated interest in possibly returning to the Democratic Republic of Congo for new opportunities, highlighting Freeport's desire to operate any future projects in the region [8]

World class mines. World class people. Investor Presentation Presented in August 2024 NYSE: GOLD TSX: ABX Cautionary Statement on Forward-Looking Information… Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "strategy", ...