Donald Trump’s re-election has sent shockwaves through the commodity markets, with analysts predicting a surge in steel prices and a potential decline in copper due to his anticipated trade policies. The Canadian market, heavily reliant on resource exports, faces particular uncertainty as Trump’s stance on tariffs could impact commodity-driven industries across North America.
Hot Chili Limited, a leading copper-gold exploration and development company, has released its quarterly report for Q3 2024, highlighting significant advancements in its Costa Fuego Copper-Gold Project in Chile. The report details progress on the Pre-Feasibility Study (PFS), Environmental Impact Assessment (EIA), exploration activities, and the development of a strategic water supply business, Huasco Water.
Vizsla Copper Corp. has announced exciting results from a direct current induced polarization (DCIP) survey at the Woodjam project in British Columbia, revealing a significant chargeability-high anomaly within the Great Plains target area. This anomaly is believed to be geologically similar to the nearby Southeast deposit, which holds a historical inferred mineral resource estimate of 221.7 million tonnes. The discovery has significantly boosted the target ranking of the Great Plains area, potentially leading to further exploration activities and drill testing in 2025.
NiCAN Limited has identified a significant number of new untested target areas at its Wine Nickel-Copper Project in Manitoba, following successful geophysical surveys and groundwork. These targets, located within the Wine Gabbro area, hold the potential for high-grade nickel-copper mineralization, drawing parallels to the historical Lynn Lake nickel deposits.
Freeport-McMoRan (FCX) exceeded revenue expectations in its Q3 2024 earnings, but missed slightly on EPS. While analysts are optimistic about the company’s future prospects, concerns remain about its Indonesian smelter and the potential impact on production. Learn more about the mixed reactions and the outlook for FCX.
NGEx Minerals has commenced its Phase 3 drill program at its 100%-owned Lunahuasi copper-gold-silver project in Argentina, aiming to expand the deposit and develop an initial Exploration Target. The program follows a highly successful Phase 2, which yielded some of the world’s highest-grade intercepts and confirmed the deposit’s exceptional grades and size potential.
Manara Minerals, a joint venture between Saudi Arabia’s Public Investment Fund (PIF) and Ma’aden, is close to acquiring a significant stake in First Quantum Minerals’ Zambian copper and nickel assets. The potential deal, valued at $1.5-$2 billion, includes ownership of the Kansanshi, Sentinel, and Enterprise mines. This acquisition aligns with Manara’s recent investments in the mining sector and could help First Quantum manage its debt. However, Zambia’s mining sector faces challenges related to infrastructure and energy supply, posing potential risks for investors.
Michael Ballanger analyzes the current market trends, focusing on the performance of oil, copper, gold, and silver. He highlights the ‘Seasonal MACD Buy Signal’ and its implications for the upcoming months, while also discussing the overbought territory and the potential for a year-end rally. Ballanger shares his insights on copper’s recent performance and its potential impact on Freeport-McMoRan Inc. (FCX).
JPMorgan analyst Bill Peterson warns that a Trump 2.0 presidency could trigger a significant downturn in copper stocks, with proposed tariffs on Chinese imports escalating trade tensions and potentially impacting global demand. Investors are reminded of the sharp decline in copper prices during Trump’s first term due to the 2018 trade war and the historical trend of industrial metals underperforming following rate-cutting cycles.
McEwen Mining, led by industry veteran Rob McEwen, presents a compelling investment opportunity with its focus on gold, silver, and copper. These critical metals are essential for the burgeoning AI, renewable energy, and electric vehicle sectors, positioning McEwen Mining as a key player in the future economy.
