Key Takeaways Cannabis ETFs surged on optimism around potential U.S. marijuana reclassification reforms.Precious metals ETFs gained as silver, gold and platinum prices climbed on supply concerns.Space and health care ETFs advanced on sector-specific growth drivers.Wall Street was upbeat last week. The S&P 500 lost 0.6%, the Dow Jones advanced 1.1% and the Nasdaq retreated about 1.6% last week. The tech stocks were beaten down, taking a toll on the Nasdaq-100 as well as the S&P 500. Roundhill Magnificent Sev ...

Group 1: Mineral Production in Africa - Africa is a significant global hub for mineral production, holding 79.3% of total PGM reserves, 61.7% of chromium reserves, and substantial shares of cobalt (54.5%), manganese (36.5%), diamonds (32.4%), bauxite (25.5%), copper (8.2%), gold (7.8%), and lithium (1.6%) [1] - The region accounted for nearly 80.3% of global platinum production in 2024, with a forecasted decline of 6.4% in 2025 due to heavy rains and operational challenges [2] - South Africa produced 71.5% of global platinum and 42.7% of chromium in 2024, facing structural issues like high electricity costs and labor inefficiencies [3] Group 2: Cobalt and Copper Production - The Democratic Republic of Congo (DRC) accounted for 97.2% of Africa's cobalt production in 2024, with a projected growth of 2.5% in 2025 [4] - DRC's copper production is expected to grow at a CAGR of 3.3% through 2030, supported by expansions at various projects [4] - Africa's second-largest copper producer is forecast to see a 19.2% increase in copper production in 2025, reaching 937.5 kilotonnes, driven by higher output from ZCCM Investment Holdings' Mopani mine [4]

Core Viewpoint - Tharisa plans to invest $547 million in an underground platinum group metals mining project over the next decade, transitioning from open-pit mining to underground operations to enhance efficiency and extend the life of the mine [1][2]. Group 1: Investment and Project Details - The investment of $547 million (R9.46 billion) will be allocated to an underground platinum group metals mining project [1]. - The transition from open-pit to underground mining is expected to occur within the next ten years [1]. - The underground operations are projected to produce a minimum of 200,000 ounces of PGMs and over two million tonnes of chrome concentrate annually [4]. Group 2: Production Projections - For the financial year 2025, Tharisa anticipates production of 140,000 to 160,000 ounces of PGMs and between 1.65 million and 1.8 million tonnes of chrome concentrates [4]. - Ore delivery from the first of two shafts is expected to commence by the second quarter of 2026 [3]. Group 3: Industry Context and Future Outlook - PGMs are considered critical for the transition to a future world, despite concerns regarding their demand due to the rise of electric vehicles [2][3]. - The new mechanized underground operations aim to enhance efficiencies, lower costs, and boost output [3]. - Tharisa is also developing the Karo platinum mine in Zimbabwe, which is expected to produce 226,000 ounces per year [4].

Production Capacity Expansion - Impala Platinum Holdings's Zimbabwe unit is tripling its processing capacity [1] - The Zimbabwe unit plans to handle concentrates from other mining firms at its new smelter [1]