December 23, 2025 01:25 PM GMT European Metals and Mining 23 December 2025 Consolidation, Scarcity, and Regionalisation M O R G A N S T A N L E Y R E S E A R C H Europe Morgan Stanley & Co. International plc+ Ferdinand Huber RESEARCH ASSOCIATE Ferdinand.Huber@morganstanley.com +44 20 7677-2702 European Equity Research Alain Gabriel, CFA EQUITY ANALYST Alain.Gabriel@morganstanley.com +44 (0)20 7425 8959 Ioannis Masvoulas, CFA EQUITY ANALYST Ioannis.Masvoulas@morganstanley.com +44 (0)20 7425 0427 Adahna Ekoku ...

The Commerce Department said gross domestic product increased at a 4.3% annualized rate in the third quarter, the fastest pace since the third quarter of 2023 and well above the 3.3% estimate of economists polled by Reuters, fueled by robust consumer spending. While the data was delayed ‌due to the 43-day ‌government shutdown and many analysts expected the fourth quarter would show a slower pace of economic growth, markets are now pricing in a smaller chance of a January rate cut from the Federal Reserve, ...

TORONTO--(BUSINESS WIRE)--Trigon Metals Inc. (TSX-V: TM; OTCPK: PNZTF) ("Trigon†or the "Company†) is pleased to announce that it has completed the previously announced transaction (the "Transaction†) with Kamino Minerals Limited (the "Purchaser†) and Horizon Corporation Limited ("Horizon†), an affiliate of the Purchaser, for the sale of Trigon's interest in the Kombat Mine and associated assets to the Purchaser. The Transaction was completed pursuant to a share purchase agreement (the "Share Purchas ...

Haywood Securities has initiated coverage of Midnight Sun Mining Corp (TSX-V:MMA, OTCQB:MDNGF) with a ‘Buy’ rating and a target price of C$3, pointing to the company’s exploration assets in Zambia and upcoming project milestones as the primary drivers of its valuation. The firm said its target price is based on a 0.97x multiple of its net asset value (NAV) estimate. While noting that Midnight Sun’s projects are at an early exploration stage and do not yet have defined resources or mine plans, Haywood outlin ...

HighlightsResults from the ongoing drilling program include the following high-grade intercepts:Minto North west zone: 4.96% Cu, 0.85 g/t Au, 18.67 g/t Ag over 9.9 m from 225.1 m, within a broader zone of 2.34% Cu, 0.43 g/t Au and 8.69 g/t Ag over 24.0 m in drill hole 25SCM009, a 150 m southern step out at the Minto North west zoneRidgetop zone: 1.46% Cu, 0.47 g/t Au, 4.04 g/t Ag over 14.7 m from 90.3 m within a zone of 1.02% Cu, 0.37 g/t Au, 3.17 g/t Ag over 27.7 m in drill hole 25SCM006 and 2.20% Cu, 0.8 ...

NEW YORK, Dec. 22, 2025 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Freeport-McMoRan Inc. (NYSE: FCX). Shareholders who purchased shares of FCX during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/freeport-mcmoran-inc-loss-submission-form/?id=180992&from=3 CLASS PERIOD: Februa ...

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 ...

China's dominance in mineral processing — not mining — is emerging as the defining fault line in the global race for critical resources such as copper. The U.S. imports roughly 60% of the copper it consumes — a reliance drawing fresh scrutiny as demand accelerates across electrification, AI infrastructure, and defense.Track copper price via CPER ETF here.In an exclusive email interview with Benzinga, John Shively, CEO of Pebble Mine, Alaska (the largest untapped copper mine in the U.S.) framed the issue as ...

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]