Copper Passes Iron Ore, Squeeze Tightens
BHP's copper business just eclipsed iron ore for the first time in company history — right as a physical scramble for the metal pushes London spreads to their tightest since the 2021 squeeze.
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BHP's copper business just eclipsed iron ore for the first time in company history — right as a physical scramble for the metal pushes London spreads to their tightest since the 2021 squeeze.
NexGen Energy started construction on its massive Rook I uranium project in Saskatchewan the same week OceanaGold, AngloGold Ashanti and Equinox Gold advanced major gold deals, while Korea's Eximbank struck a $1 billion copper-supply financing deal with Glencore.
Official traffic through the Strait of Hormuz has collapsed to a handful of ships a day. A shadow fleet operating just outside it explains why oil prices haven't followed.
The Pentagon is writing nine-figure checks for magnets, scandium and battery metals even as China's own price for the same material falls — a bet that security is worth paying more for than the market thinks it's worth.
This week in energy: Brent crude surged toward $100 a barrel as Hormuz attacks disrupted tanker traffic, Alaska's $50 billion LNG pipeline bill collapsed in the state legislature, and Boralex went private in a $6.5 billion Brookfield-led buyout. Key developments across oil, gas, renewables, and mining sectors.
While traders obsess over Hormuz, BP just handed Abu Dhabi and Qatar their first stake in Venezuela — a slower, structural bet that could matter more than any tanker standoff.
NioCorp's upsized Elk Creek feasibility study anchors a critical-minerals-heavy news day that also brought a record copper squeeze, an Antofagasta profit beat clouded by Chile weather, and a fresh silver-buyback milestone from Pan American.
Elliott Management ratchets up its campaign against Australia's biggest gold miner while NioCorp unveils a $4 billion critical minerals project, Blue Moon expands into tungsten and antimony, and Sunrise Energy Metals eyes a US redomicile.
Fortuna Mining locks up 60 km of Senegal's gold corridor from Barrick and IAMGOLD, while Sunrise Energy Metals eyes a US listing, Glencore joins the fight for Sherritt, and White Gold unveils a nearly C$2 billion Yukon study.
Oil barely moved Tuesday, but energy stocks are flirting with overbought territory -- a sign the sector's rally has stopped waiting for crude to cooperate.
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