Morgan Stanley reaffirms its "Overweight" rating for Rio Tinto (NYSE:RIO), indicating a positive outlook on the stock.The firm raises its price target for RIO, suggesting confidence in the company's future performance.RIO's stock demonstrates volatility within a day but shows potential for growth based on its yearly high and low.Rio Tinto (NYSE:RIO) is a leading global mining group that focuses on finding, mining, and processing mineral resources. The company operates in various segments, including iron ore ...

Joining us now is Feta Kellinska who's a consulting founder and CEO of Relay Global. Thank you so much for joining me this morning. So as we look across, you know, who's reported, who's set to report, you've actually taken a closer look at those are the likes of Costco and BJs.What are you seeing as far as sort of more warehousy type retailers right now. >> Good morning. Thank you so much for having me.So when I analyzed consumer data discussions from social media available channels around those warehouse c ...

Core Insights - BHP Group has renewed its interest in acquiring Anglo American despite Anglo's proposed merger with Teck Resources, indicating a shift in strategy after previously walking away from a potential deal [1][2][4] Group 1: BHP's Acquisition Interest - BHP's renewed approach comes less than three weeks before Anglo and Teck shareholders vote on a $53 billion merger, which would be the largest mining industry combination in over a decade [2][7] - BHP's previous attempt to acquire Anglo last year was for $49 billion but fell through due to disagreements over the deal structure, which required Anglo to divest certain niche assets [4][5] - The current proposal from BHP is reportedly simpler and more straightforward than last year's offer [4] Group 2: Anglo American's Market Position - Anglo American has a market capitalization of approximately $41.8 billion, significantly outpacing BHP's market cap of around $132.2 billion since the previous talks ended [5] - The potential merger with Teck could create a larger copper mining complex than Escondida in Chile, positioning the combined entity as the world's largest copper producer with nearly 2 million tonnes of annual production [6] Group 3: Regulatory and Market Considerations - There are doubts surrounding the Anglo-Teck merger due to Canadian government pressure for stronger commitments to jobs at the proposed Vancouver headquarters [7] - The merger still requires approval from regulators in the US, Canada, and China, adding complexity to the situation [7]

Core Viewpoint - Mountain Province Diamonds Inc. has entered into an amending agreement with Dunebridge Worldwide Ltd. to modify terms of its CAD 33 million working capital facility, extending the repayment period and allowing access to additional funds during a critical period for the company [1][2][3]. Group 1: Amending Agreement Details - The period for advances against the working capital facility is extended from November 13, 2025, to March 31, 2026 [2]. - Repayment mechanics involving direct payment to Dunebridge from diamond proceeds are deferred until February 28, 2026 [2]. - The principal repayment date for the working capital facility is extended from December 31, 2025, to March 31, 2026 [2]. Group 2: Management Commentary - The President and CEO of the company stated that the amendments provide access to additional funds during a crucial period before the working capital is expected to improve with sales from higher-grade material [3]. Group 3: Approval Process - The Amending Agreement was reviewed and recommended by a special committee of independent directors due to the company's financial condition [4]. - The Board unanimously approved the Amending Agreement, with two members abstaining due to conflicts of interest [5]. Group 4: Related Party Transactions - Vertigol Unlimited Company holds over 35% of the company's shares and is considered a related party, as is Dunebridge, which is also owned by the same ultimate beneficial owner [6]. - The company is relying on exemptions from formal valuation and minority shareholder approval requirements due to its financial difficulties [7]. Group 5: Company Overview - Mountain Province Diamonds Inc. holds a 49% stake in the Gahcho Kué mine in Canada and controls over 96,000 hectares of mineral claims surrounding the mine [8].

Core Viewpoint - Citigroup maintains a Neutral rating for Rio Tinto Ltd, raising the price target, indicating a positive outlook for the company's future performance [2][6] Production and Earnings - Rio Tinto is expected to increase its copper production by about 20% over the next three years, driven by the ramp-up at the Oyu Tolgoi mine, which will also enhance the production of gold and silver by-products [3][6] - The contribution of iron ore to group earnings is projected to decrease from 81% in 2023 to 48% by 2026, reflecting the company's strategic diversification into copper and other commodities [4][6] Stock Performance - The current stock price of Rio Tinto is $70.49, showing a slight decrease of 0.20% from the previous day, with a market capitalization of approximately $114.45 billion [5]

Core Viewpoint - Vast Resources plc is progressing with a rough stone tender that includes a total of 126,677.50 carats, aiming to maximize revenues for shareholders through phased sales of higher quality stones [2][3]. Group 1: Tender Update - The initial parcel for the rough stone tender consists of 126,677.50 carats, which includes 12,591.77 carats of mixed-quality gem stones, 63,091.75 carats of low-grade gem stones, and 50,993.98 carats of industrial stones [2]. - The company plans to sell the remaining higher quality stones in a phased manner to maximize revenue [3]. Group 2: Company Overview - Vast Resources plc is an AIM quoted mining company with operations in Romania, Tajikistan, and Zimbabwe [6]. - In Romania, the company is focused on advancing high-quality projects, including the Baita Plai Polymetallic Mine, which has a JORC compliant resource report indicating a mine production life of approximately 3-4 years and a total mineral resource of 15,695 tonnes copper equivalent [7]. - The company also owns the Manaila Polymetallic Mine and is working to bring it back into production [8]. - In Tajikistan, Vast has a joint venture for the Takob Mine, which will provide a 12.25 percent royalty on sales of non-ferrous concentrate [10]. - Additionally, Vast is contracted to manage the Aprelevka gold mines, aiming to increase production towards historical peak levels of approximately 27,000 ounces of gold and 250,000 ounces of silver per year [11].

Core Points - Mountain Province Diamonds Inc. announced the resignation of President & CEO Mark Wall, effective December 19, 2025, to pursue other opportunities [1][4] - The company has commenced mining through the transitional phase of the high-grade 5034-NEX orebody, with processing underway [2] - The Board of Directors will initiate a search for a new President and CEO [3] Company Operations - The Gahcho Kué mine is positioned for strong performance in Q4 2025 and 2026 following the completion of a five-day plant maintenance shutdown [2] - Mountain Province holds a 49% stake in the Gahcho Kué diamond mine, which consists of several actively mined kimberlites [4] - The company controls over 96,000 hectares of mineral claims and leases surrounding the Gahcho Kué Mine, including significant mineral resources [4] Mineral Resource Estimates - The Kelvin kimberlite is estimated to contain 13.62 million carats in 8.50 million tonnes at a grade of 1.60 carats/tonne, valued at US$63 per carat [4] - The Faraday 2 kimberlite is estimated to contain 5.45 million carats in 2.07 million tonnes at a grade of 2.63 carats/tonne, valued at US$140 per carat [4] - The Faraday 1-3 kimberlites are estimated to contain 1.90 million carats in 1.87 million tonnes at a grade of 1.04 carats/tonne, valued at US$75 per carat [4]

Core Insights - Mountain Province Diamonds Inc. reported financial results for Q3 2025, highlighting a significant decline in carat production and financial performance compared to Q3 2024 [1][5][6] Financial Performance - Total revenue for Q3 2025 was $29.2 million from the sale of 409,081 carats, averaging $71 per carat, a decrease from $69.4 million from 679,599 carats sold in Q3 2024 at an average price of $102 per carat [6][7][9] - Adjusted EBITDA for Q3 2025 was ($4.3) million, down from $17.3 million in Q3 2024 [7][8] - The net loss for Q3 2025 was $55.9 million, or $0.26 per share, compared to a net loss of $19.0 million, or $0.09 per share, in Q3 2024 [8][19] Operational Highlights - Carat production in Q3 2025 was impacted by lower than expected stockpile grades, with a total of 1,001,000 carats recovered, a 16% decrease from 1,187,912 carats in Q3 2024 [14][16] - The average grade of diamonds recovered was 1.18 carats per tonne, down 5% from 1.24 carats per tonne in Q3 2024 [14][16] - Cash costs of production, including capitalized stripping costs, were $143 per tonne treated and $121 per carat recovered, compared to $125 per tonne and $101 per carat in Q3 2024 [7][8][14] Market Conditions - The US retail diamond market remains robust, although tariffs are negatively affecting prices [5] - The company is optimistic about improved grades in Q4 2025 as operations progress in the higher-grade 5034-NEX orebody [4][5] Future Outlook - The company executed a planned 5-day shutdown of the processing plant in September for maintenance, which affected the tonnes treated for the quarter [3][4] - The mine is well-prepared for 2026 with the arrival of cold weather, and the focus on safety and operational efficiency will continue [3][4]

Botswana’s president reiterated his plan to acquire a majority stake in De Beers, as Anglo American looks to offload its controlling interest in the iconic diamond company https://t.co/h8X7wq2Si4 ...

Core Viewpoint - Mountain Province Diamonds Inc. reported a decline in production and sales for Q3 2025 compared to Q3 2024, primarily due to lower ore grades and reduced carat recovery from the Gahcho Kué Diamond Mine [1][6][11]. Production Summary - Total tonnes mined increased by 15% year-over-year, reaching 9,922,231 tonnes in Q3 2025 compared to 8,603,369 tonnes in Q3 2024 [2]. - Ore tonnes mined decreased by 13%, totaling 807,458 tonnes in Q3 2025, down from 923,814 tonnes in Q3 2024 [2][9]. - Carats recovered fell by 16% year-over-year, with 1,000,887 carats recovered in Q3 2025 compared to 1,187,912 carats in Q3 2024 [2][9]. - The average recovered grade was 1.18 carats per tonne, a decrease of 4% from 1.24 carats per tonne in Q3 2024 [2][9]. Sales Results - In Q3 2025, the company sold 409,081 carats for $29.2 million, averaging $71 per carat, compared to 679,599 carats sold for $69.4 million at an average of $102 per carat in Q3 2024 [6][11]. Guidance Update - The company revised its guidance for carats recovered to a range of 4.0 million to 4.2 million carats for 2025, down from the previous range of 4.3 million to 4.7 million carats [4]. - Production costs per carat recovered are now guided at $125 to $130, significantly higher than the original guidance of $92 to $107 [5]. - The revised guidance for production costs per tonne treated is now $145 to $155, up from the original range of $120 to $137 [5]. Operational Insights - The company completed waste stripping to access the higher-grade 5034-NEX orebody during Q3 2025, which is expected to improve production in Q4 2025 and 2026 [7][11]. - A planned 5-day shutdown in September for maintenance contributed to slightly lower tonnes processed compared to Q2 2025 [8].