Author: Staff Reporter

Market hits and misses in 2024, a record-breaking year

As the final trading days of 2024 wind down, BMO Capital Markets takes a look at the year that was

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It’s been another banner year for investors, despite last week’s stumble. The S&P 500 is headed for the finish line up 25 per cent, following a more than 20 per cent gain the year before.

As the final trading days of 2024 wind down, BMO Capital Markets economist Robert Kavcic takes a look at the year’s hits and misses.

The markets

The S&P 500 is up 25 per cent since the end of 2023 with the top seven biggest technology stocks accounting for more than half of that advance.

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The Nasdaq has led the gains so far, up 30 per cent after a stunning 43 per cent rise in 2023. If this year’s advance holds, it will be only the third back-to-back increase this high since the late 1960s, said Kavcic.

The TSX has also had a solid year, up 17.4 per cent.

Most improved

The United States’ robust economy, interest rate cuts and a steepening yield curve made bank stocks a winner this year, said Kavcic. The U.S. sector rallied 34 per cent after the bank failures of 2023. Earnings results among Canadian banks were more “hit-and-miss” but the sector still managed a 16 per cent gain, up from 3.6 per cent the year before.

Underperformers

It was a tough year for resources and U.S. energy and materials are down on the year, said Kavcic. The rally in gold prices helped Canada, but oil prices are wrapping up the year about where they started with West Texas Intermediate at around US$70.

Worst performers

Canadian telecoms were the worst performers in North America, pressured by tougher competition, high debt loads and Ottawa’s new caps on population growth, said Kavcic. The sector is down more than 20 per cent and the hits keep coming.

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Telecom companies were the biggest losers on the TSX yesterday, which one analyst attributed to tax-loss selling at the end of the year. Rogers Communications Inc. fell 0.7 per cent Monday after the Competition Bureau Canada said it was suing the company for allegedly making misleading claims about its infinite wireless plans.

BCE Inc. was down almost 1.4 per cent and Telus Corp. dropped 0.9 per cent.

“It’s been a tough year for the communication services sector,” Kevin Burkett, a portfolio manager at Burkett Asset Management, told The Canadian Press.

And then there’s bitcoin …

It’s been a year of milestones and records for the digital currency. Bitcoin ETFs began trading in the United States on Jan. 11, 2024, and by March the price had hit a new record of US$73,000 as investors poured in. (Note: Bitcoin ETFs launched in Canada in February 2021, the first in the world.)

But there were more records to come. The election of Donald Trump, known for his pro-crypto policies, pushed the currency over US$100,000 this month for the first time.

That rally has since flagged, with bitcoin trading at US$93,944 this morning

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A pause or a cut? Gross domestic product data that came out Monday evoked a mixed reaction from economists, who were eager to see how the latest numbers would affect the Bank of Canada’s next decision.

GDP grew by 0.3 per cent in October, stronger than expected, but Statistics Canada’s early estimate for November suggested the economy shrank by 0.1 per cent, the first contraction this year.

Oxford Economics says the reading shows the economy is not firing on all cylinders and predicts the central bank will press on with four more 25-basis-point cuts to bring the interest rate to 2.25 per cent by mid-2025.

Capital Economics, however, had a more upbeat take on the economy. Stephen Brown said the hit to November’s GDP was hardly surprising considering the impact of two earlier port strikes and the Canada Post walkout that started Nov. 15.  Even with November’s dip, fourth-quarter GDP growth will be close to the Bank of Canada’s forecast of 2 per cent annualized, he said, increasing the odds that the bank will pause next month.

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  • The TSX closes at 1 p.m. ET for Christmas Eve
  • Today’s Data: United States building permits, durable goods orders, new home sales

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Zimbabwe: Caledonia to Reveal Gold Project Feasibility Results

Caledonia Mining Corporation, angling to become a multi-asset gold producer in Zimbabwe, says a new feasibility study on its Bilboes Gold Project, expected to become the countryls largest gold asset, will be published early next year.

The Toronto Stock Exchange (TSX)-listed group, which has a secondary listing on the Victoria Falls Stock Exchange (VFEX), owns Matabeleland South Province-based Blanket Mine, one of Zimbabwe’s major gold mining assets.

It is also the proprietor of the Motapa gold project situated adjacent to the Bilboes mine in Matabeleland North Province, Maligreen Goldfields, and Glen Hulme projects in Gweru, in the Midlands Province.

In 2022, Caledonia acquired the Bilboes project for US$53,3 million from businessman Mr Victor Gapare.

The mining group is on record saying that judging from its findings of a Preliminary Economic Assessment (PEA), Bilboes holds huge potential to become a transformative asset and Zimbabwe’s biggest gold mining operation producing, 150 000 ounces annually.

The PEA confirmed the results of a feasibility study carried out by the previous owner of the Bilboes, which detailed strong potential from a potentially luctrative open-pit project.

“The company intends to publish a new feasibility study for the project in the first quarter of 2025,” Caledonia said in its latest update.

Caledonia says the project may have its first gold pour by 2028, according to the firm’s PEA. The Bilboes project is expected to produce 1,52 million ounces of the yellow metal over a 10-year mine life.

“On June 3, 2024, Caledonia published a new technical report for Bilboes, which superseded prior technical reports and technical report summaries for Bilboes.

“The new Bilboes technical report was a preliminary economic assessment prepared in accordance with Canada’s National Instrument 43-101 and did not comply with S-K 1300.

“The purpose of the technical report summary filed yesterday is to report mineral resources for the project in accordance with S-K 1300, to present the results of an initial assessment for the implementation of open pit mining to recover the gold mineralisation and to propose additional work required for feasibility level studies,” said the mining group.

Meanwhile, gold output at Blanket Mine in the nine months to September this year was 56 815 ounces up from 55 244oz in the comparable period in 2023.

Caledonia has reiterated its production guidance for this year at between 74 000 and 78 000oz at Blanket.

Gold is Zimbabwe’s biggest single export. Fidelity Gold Refinery, the country’s sole buyer of gold produced locally, said production reached 32 tonnes in the first 11 months of this year.

During the period under review, the artisanal and small-scale mining sector delivered 20,3 tonnes while primary producers or the large-scale miners produced 11,7 tonnes.

Last year, Zimbabwe produced 30,1 tonnes of the bullion and this year the Government targets 35 tonnes.

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Aclara secures $25m for Carina mining project in Brazil

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Canadian rare earths company Aclara Resources is raising $25m through a non-brokered private placement to fund its Carina project in Brazil.

This placement involves the issuance of more than 51 million common shares at C$0.70 ($0.40) apiece, which marks a 41% premium to Aclara’s last closing price on the Toronto Stock Exchange.

The company has entered subscription agreements with Chilean mining holding company CAP, Hochschild Mining Holdings, and New Hartsdale Capital for the purchase of the shares.

This transaction requires shareholder approval, which Aclara will seek at a special meeting anticipated for early 2025. The closing of the private placement is expected by the end of February 2025 while key development milestones for the Carina project are set for next year.

These milestones range from submitting an environmental impact study to completing a pre-feasibility study.

A smaller portion of the funds, potentially supplemented by government funding, will be allocated to a separation project in the US.

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Aclara chairman Eduardo Hochschild Chairman said: “We are thrilled to welcome CAP as a strategic investor. Beyond their financial strength, CAP brings deep industry expertise, making them an invaluable partner in our mission to establish a sustainable and integrated supply chain for rare earths.

“CAP joins Hochschild Mining as a major shareholder of Aclara, uniting two distinguished companies with decades of proven success across the Americas. With their strong support, Aclara is well-positioned to advance its projects in Brazil, Chile, and the United States, paving the way to becoming a global leader and driving meaningful progress in the fight against climate change.”

The Penco Module in Chile will not utilise proceeds from this placement, as its development is entirely covered by CAP’s investment in REE Uno made in April 2024.

Aclara CEO Ramon Barua said: “CAP has proven to be a very effective contributor in our work at the Penco Module and, through this offering, we welcome them to the shareholder base of Aclara Resources. Through their continued financial support of our development plan, our key shareholders are demonstrating their steadfast commitment to propelling Aclara towards its goal of becoming an integrated producer of rare earths outside of Asia.”


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Probe Gold Bolsters Novador Project with Strategic Acquisition

Probe Gold Inc. has announced that it has entered a definitive purchase agreement (the “Agreement”) with Leopard Lake Gold Corp. (“Leopard”) to acquire a 100% interest in the Stella Property (the “Property”).

Probe Gold Val-d’Or properties with the Stella Property
Probe Gold Val-d’Or properties with the Stella Property. Image Credit: Probe Gold

The property is ideally situated between Probe’s Croinor and Megiscane properties, east of the company’s Novador Development Project, and about 9 km northeast of the former Croinor Mine. It is located in an NW-SE-oriented volcano-sedimentary corridor with 52 contiguous claims totaling 2,987 hectares.

The Manneville Fault and related splay systems, which are thought to be extensions of the abundant Destor-Porcupine Gold Break, are part of this corridor, which runs from Timmins in the west to the Grenville Front in the east. The company’s McKenzie Break property is about 55 km northwest on the same fault system, which contains a 1.45-ounce gold resource.

This tuck-in acquisition is a highly strategic addition to our portfolio. It aligns perfectly with our goal of consolidating the underexplored Vald’Or East region and significantly enhances the high-grade exploration potential of our Novador Development Project. The acquisition also brings strong operational synergies with our Croinor and Megiscane properties, where recent geophysical and soil surveys have identified promising exploration targets that appear to extend onto the Stella property.

David Palmer, President and Chief Executive Officer, Probe Gold Inc.

Palmer said, “Our exploration success in the Val-d’Or East area has been exceptional—growing our gold resources more than 14-fold to surpass the 10Moz mark while uncovering new discoveries in this largely untapped part of the Val-d’Or Camp. For a relatively low cost, this acquisition strengthens our position in Val-d’Or and opens up new opportunities for high-grade gold discoveries.”

By expanding its holdings directly east of the flagship Novador Project (“Novador”), the acquisition will improve Probe’s land position in the Val-d’Or region. Probe’s entire land package in Vald’Or will grow to 832 km2 after the acquisition and the most recent map staking at Val-d’Or East, solidifying its standing as the region’s top explorer.

The deal is anticipated to close in the upcoming weeks, subject to obtaining all required regulatory and Toronto Stock Exchange (“TSX”) approvals and meeting other standard closing requirements.

About the Stella Property

The discovery of gold in 1925 or so marked the beginning of the Stella Property’s history. Lacoma Gold Mines Ltd. was founded in 1931 to investigate the region south of Seneterre. To explore four mineralized veins, the company drilled on the surface, sank a 79-m shaft, and created two underground levels between 1931 and 1938. Notable findings included up to 39 g/t Au over 1.1 m. However, in 1939, exploration came to an end.

There was very little exploration and drilling between 1939 and 1983. In addition to magnetic, gradient, and geological surveys, renewed efforts in 1983–1984 included 17 drill holes primarily aimed at the quartz diorite that contains the Lacoma gold zones. In 1987–1988, additional research involved magnetic and EMH surveys, as well as five diamond drill holes.

In 2011, 23 drill holes were finished near the historic Lacoma shaft. Notably, over 14.8 m, hole STE-10 intersected 1.6 g/t Au in a diorite stockwork that was rich in pyrite and veined with quartz.

The property is primarily composed of finely laminated tuffs and intermediate volcanic rocks, with the majority of the mineralized zones located close to a central diabase dyke and a dioritic intrusion near the Lacoma shaft. There is still little exploration beyond the Lacoma region.

About Probe’s Novador Project

With a district-scale land package of 832 km2, Probe Gold has strengthened its land position in the highly promising Vald’Or East region of Quebec since 2016. This makes it one of the largest land holdings in the Val-d’Or mining camp.

Around 80% of the company’s gold resources in Val-d’Or East are located in the Novador project, a single 202 km2 property block home to four former producing mines (Beliveau Mine, Bussiere Mine, Monique Mine, and Beaufor Mine). Novador is located in a low-cost, politically stable mining region with many active mills and producers.

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Technology Metals Report (12.06.2024): China’s Export Ban Disrupts Critical Minerals Supply Chains, Niger Uranium Seizure Sparks Supply Concerns, and CMI Strengthens Leadership for 2025

This week, the critical minerals market was dominated by China’s implementation of an export ban on gallium, germanium, and antimony to the U.S., escalating trade tensions and spotlighting vulnerabilities in American supply chains. The ban, which could reduce U.S. GDP by $3.4 billion, underscores China’s strategic dominance in critical minerals essential for semiconductors, renewable energy, and defense technologies. The move has been described by Critical Minerals Institute (CMI) Co-chair Jack Lifton as a “War for Critical Minerals Supplies,” prompting the U.S. to intensify efforts to diversify its mineral sources and invest in domestic production. This development coincided with the U.S. Defense Department invoking the Defense Production Act to enhance the domestic production of graphite and other critical minerals to reduce dependence on China, signaling a broader push to secure resilient supply chains.

In Australia, the government allocated an additional A$400 million to Iluka Resources Limited’s (ASX: ILU) rare-earth refinery project in Western Australia, addressing construction cost increases for the A$1.8 billion facility. This refinery will process minerals vital for renewable energy technologies and defense applications, bolstering Australia’s efforts to reduce reliance on China. Meanwhile, in Canada, E-One Moli Energy postponed its $1 billion lithium-ion battery factory expansion in British Columbia due to declining global demand for electrification projects and difficulties securing long-term customers. These contrasting developments reflect the challenges and opportunities faced by countries seeking to position themselves in the critical minerals supply chain amid global economic and geopolitical uncertainties.

Uranium emerged as a key resource this week, with Niger’s military junta seizing control of Orano’s uranium mining operations, disrupting one of the world’s largest uranium deposits. The decision exacerbates global uranium supply concerns, as Niger accounts for about 5% of global production. Additionally, a new blockchain-based marketplace was launched, enabling small investors to purchase tokenized physical uranium. This innovation, supported by Canadian producer Cameco Corp. (TSX: CCO | NYSE: CCJ), democratizes access to uranium and addresses growing demand driven by nuclear energy projects and AI-driven energy needs.

The week also saw organizational advancements in the critical minerals sector. The Critical Minerals Institute (CMI) appointed Kevin Ernst to its Board of Directors, adding over 30 years of financial expertise to guide its strategies in navigating the evolving market landscape. Furthermore, Neil Lock was announced as the Event Coordinator for the International Critical Minerals Expo & CMI Summit IV, scheduled for May 14–15, 2025, in Pasadena, California. These events, alongside geopolitical and market dynamics, underscore the complexity and high stakes of the critical minerals market as nations and industries grapple with securing the resources vital to global technological and economic growth.

The following stories were selected by the Critical Minerals Institute (CMI) Board of Directors for the weekly Technology Metals Report (TMR) prepared for the CMI Membership. To become a member, click here

China’s Critical Minerals Export Ban Escalates Trade Tensions with the U.S. (December 4, 2024, Source) — On December 3, 2024, China banned exporting gallium, germanium, and antimony to the U.S., intensifying trade tensions following American restrictions on advanced technology sales. These minerals are vital for semiconductors, defense, and green technologies, with China dominating their global production. The move exposes U.S. supply chain vulnerabilities, potentially reducing its GDP by $3.4 billion. Jack Lifton from the Critical Minerals Institute (CMI), calls this a “War for Critical Minerals Supplies,” underscoring that resource control can serve as a geopolitical weapon. In response, the U.S. seeks to diversify sources, boost domestic production, and reduce reliance on China.

Australia boosts loan for rare-earths refinery in bid to break China’s dominance (December 4, 2024, Source) — The Australian government has increased its loan by A$400 million to Iluka Resources Limited (ASX: ILU) to support the construction of Australia’s first rare earths refinery, aiming to diminish China’s dominance in the critical minerals supply chain. Originally agreed upon in 2022, the funding was adjusted to bridge a financial gap caused by rising construction costs, now estimated at A$1.8 billion. This refinery in Western Australia will process minerals used in power generation for wind turbines, electric vehicles, and military applications. Amid rising geopolitical tensions highlighted by China’s recent export bans on strategic minerals to the US, Australia’s move is part of a broader strategy to secure and expand its position in the global critical minerals market, including further investments in local projects and partnerships with the US.

$1 billion expansion of B.C. lithium-ion battery factory on hold (December 4, 2024, Source) — E-One Moli Energy (Canada) Ltd., a subsidiary of Taiwan Cement Corp., has postponed its $1 billion expansion of the Maple Ridge lithium-ion battery factory in British Columbia, impacting the creation of 350 jobs. The expansion was initially celebrated by leaders including Premier David Eby and Prime Minister Justin Trudeau, supported by significant federal and provincial funds to enhance clean technology. However, declining global interest in electrification projects and an inability to secure a major customer led to this decision. The factory, currently producing 24 million battery cells annually, intended to increase its output significantly. This delay reflects broader global economic shifts affecting green technology investments and underscores the vulnerability of such projects to market and policy fluctuations.

DOD Leverages Defense Production Act to Galvanize Critical Supply Chains (December 4, 2024, Source) — The U.S. Defense Department is utilizing the Defense Production Act to bolster critical supply chains, focusing on domestic graphite production essential for lithium-ion batteries used in military and commercial technologies. This initiative, spotlighting projects like Alabama’s BamaStar Graphite Project and Alaska’s Graphite Creek, aims to reduce dependency on foreign graphite, primarily sourced from China. With China controlling a significant portion of the graphite market, the U.S. seeks to mitigate supply chain vulnerabilities heightened by geopolitical tensions and China’s recent export restrictions. This strategy is part of a broader move towards a resilient defense industrial base, emphasized in the 2022 Defense Department report and propelled by Biden’s Executive Order on supply chain review. Investments are underway to develop a vertically integrated graphite supply chain, including advanced manufacturing and recycling, ensuring long-term security and resilience.

Niger junta takes control of French uranium mine (December 4, 2024, Source) — The military junta in Niger has seized control of French nuclear firm Orano’s uranium mining operations, marking a significant shift in the country’s governance of its natural resources. Since a coup in July last year, Niger’s rulers have been revising foreign company regulations for raw material extraction. Recently, they revoked Orano’s mining permit, one of the largest uranium deposits globally, and halted production. This action is part of deteriorating relations between Niger and France, evidenced further by the expulsion of French troops and ongoing disputes over mining licenses. Despite accounting for about 5% of global uranium production, Niger has struggled with exporting uranium due to security-related border closures. Orano reported 1,150 tonnes of uranium, worth approximately $210 million, stuck due to these issues. The company plans to defend its rights and seeks a stable operational framework, while Niger’s leadership expresses discontent with previous foreign dealings and hints at potential new partnerships with Russian and Turkish firms.

If Trump relaxes regulations, GM may offer fewer hybrids, EVs, CFO says (December 4, 2024, Source) — General Motors (GM) may modify its electric vehicle (EV) and hybrid offerings if the Trump administration eases environmental regulations, according to GM CFO Paul Jacobson. Speaking at the UBS Global Industrials and Transportation Conference, Jacobson explained that while GM aims to transition to an all-electric lineup within a decade, changes in regulations could adjust their near-term product portfolio. Although Trump has criticized EVs and may remove the federal tax credit aiding EV adoption, GM anticipates maintaining its short-term EV targets. Jacobson highlighted GM’s strong EV sales, with plans for significant profit improvements by 2025. He also noted that potential regulatory rollbacks could lead GM to focus more on its profitable gasoline-powered vehicles, although EVs remain the strategic long-term goal.

Biden meets African leaders in Angola to advance Lobito railway project (December 4, 2024, Source) — U.S. President Joe Biden met with African leaders in Angola to promote the Lobito railway project, aiming to facilitate the transportation of critical minerals from Congo and Zambia to Western markets. The initiative seeks to refurbish and extend an existing railway through Angola to Congo, with a future phase planned to connect to Zambia and Tanzania. This $550 million U.S.-funded project is seen as a strategic move to counter China’s dominance in Congo’s mineral-rich mining sector. At a summit in Lobito, Biden, alongside the leaders of Angola, Congo, Zambia, and Tanzania’s vice president, reiterated their commitment to regional investment and development without the burden of unsustainable debt. The project, which includes a corridor extending to Tanzania’s Indian Ocean port, is backed by Western entities but faces skepticism regarding its completion timeline and potential rivalry with Chinese routes.

The Great Chinese Headfake (December 3, 2024, Source) — China has strategically dominated the critical minerals sector, controlling substantial global reserves and processing capacities for essential minerals like cobalt and rare earth elements. Its Belt and Road Initiative further consolidates this control, particularly in Africa’s cobalt mines. By imposing export restrictions on key minerals, China wields significant political leverage, compelling other nations to invest heavily in diversifying their supply chains. This scenario mirrors past geopolitical competitions, such as the space race, where nations diverted vast resources for national prestige with limited scientific return. The hypothesis suggests China may be positioning itself to advantageously navigate future global changes by leading other countries to focus on climate change mitigation, potentially at the expense of more immediate adaptive strategies.

China’s Trade Reprisals May Extend to Minerals Like Rare Earths (December 3, 2024, Source) — China has intensified its trade tensions with the US by imposing a ban on the sales of critical minerals including gallium, germanium, antimony, and by tightening controls on graphite. This action is seen as an initial step in a series of potential export controls on various niche materials, in response to US curbs on the sale of high-end memory chips to China. These measures are part of Beijing’s strategy to safeguard national security and its pivotal role in the global supply of these minerals, which are crucial for high-tech and military applications. Citic Securities Co. has identified several other minerals like tungsten, molybdenum, and rare earths as potential candidates for future export restrictions. The escalation in trade disputes could prompt the US and its allies to reduce their reliance on China for these strategic resources, thereby diminishing the effectiveness of China’s trade barriers.

UK government to publish new critical minerals strategy in 2025 (December 3, 2024, Source) — In 2025, the UK government will launch a new critical minerals strategy and an industrial strategy to strengthen supply chains and support key industries. Announced at various 2024 conferences, these strategies aim to enhance the UK’s car, tech, and renewable energy sectors. Industry Minister Sarah Jones highlighted the importance of resilient mineral supply chains for the next decade and beyond, emphasizing job creation, business support, and international collaboration. The strategy will involve working with global partners and leveraging UK university expertise in critical minerals. Additionally, the government plans to foster clean energy and other growth sectors, supported by the National Wealth Fund. New initiatives include bilateral agreements with multiple countries and involvement in the Minerals Security Partnership to promote sustainable mining and critical mineral projects globally.

Firms launch physical uranium buying for small investors using blockchain (December 3, 2024, Source) — A blockchain platform and uranium trading company introduced a marketplace enabling small investors to purchase physical uranium, aiming to enhance liquidity in this specialized commodity market. This initiative comes amid heightened interest in uranium due to reduced mining outputs and increased demand from nuclear power sectors, driven partly by the growing energy needs of AI data centers. Previously, small investors accessed uranium through mining company stocks or uranium-holding funds. The new marketplace allows direct purchase of tokenized physical uranium in small quantities, stored securely and represented by blockchain tokens. This approach democratizes access to uranium, traditionally sold in large minimum lots unaffordable to most individuals. The storage facilities are provided by Canadian producer Cameco Corp. (TSX: CCO | NYSE: CCJ), leveraging blockchain technology from Tezos.

Meta seeks nuclear power developers for reactors to start in early 2030s (December 3, 2024, Source) — Meta Platforms, Inc. (NASDAQ: META) announced its plan to solicit proposals from nuclear power developers, aiming to start generating 1 to 4 gigawatts of new nuclear capacity in the early 2030s to support its AI and environmental objectives. This move reflects the tech industry’s growing interest in nuclear energy due to the anticipated surge in electricity demand, particularly for data centers, which are projected to need 47 gigawatts of additional capacity by 2030 according to Goldman Sachs. Meta’s focus includes the potential use of small modular reactors or conventional large reactors. The company highlights the challenges such as regulatory hurdles, fuel supply issues, and community opposition. This initiative follows similar nuclear engagements by Microsoft Corp. (NASDAQ: MSFT) and Amazon.com Inc. (NASDAQ: AMZN), underscoring a significant tech pivot toward atomic power as a sustainable energy solution. Submissions for proposals are open until February 7, 2025.

Chile aims to invest $83 bln in mining through 2033, newspaper says (December 3, 2024, Source) — Chile is set to invest approximately $83.18 billion in its mining sector through 2033, as reported by the state-run agency Cochilco and cited by Diario Financiero. This figure marks a 27% increase from the previous year’s forecast and does not include BHP Group Limited’s (NYSE: BHP | ASX: BHP | LSE: BHP) $14 billion expansion plan, potentially raising the total to nearly $100 billion. The Cochilco report, due to be presented, will detail 51 projects in Chile, the leading global copper producer and the second-largest lithium producer. The increase in investment is attributed to 11 new projects worth about $15.66 billion, including expansions and improvements by major mining firms like Freeport-McMoRan Inc. (NYSE: FCX), Anglo American PLC (LSE: AAL), and the state-owned Codelco. Notably, over half of the projected spending, totaling $42.96 billion, is scheduled between 2024 and 2026.

US proposes $7.54 billion loan to Stellantis, Samsung SDI battery joint venture (December 2, 2024, Source) — The U.S. Energy Department has announced plans to provide a $7.54 billion loan to the StarPlus Energy joint venture between Stellantis NV (NYSE: STLA) and Samsung SDI. This funding aims to support the construction of two electric vehicle lithium-ion battery plants in Kokomo, Indiana. The proposed loan includes $6.85 billion in principal and $688 million in capitalized interest. Once operational, these facilities will produce around 67 GWh of batteries annually, sufficient to equip approximately 670,000 vehicles each year. However, there is uncertainty about finalizing this government-subsidized loan before the incoming President-elect Donald Trump, who has criticized similar EV initiatives, takes office on January 20. Additionally, Stellantis plans to open a gigafactory in Canada in partnership with South Korea’s LG Energy Solution.

Critical Minerals Institute (CMI) Announces the Appointment of Kevin Ernst to its Board of Directors, Strengthening Its Expertise in Global Financial Strategies for the Critical Minerals Sector (December 1, 2024, Source) — The Critical Minerals Institute (CMI) has appointed Kevin Ernst to its Board of Directors, bolstering its expertise in global financial strategies within the critical minerals sector. Kevin Ernst brings over 30 years of experience in financial markets, investment banking, and corporate strategy from his roles at major institutions like Merrill Lynch, UBS, and NYSE American LLC. His previous contributions include leading the ultra-high-net-worth division at Merrill Lynch and managing national advisory services for institutional clients at UBS. Additionally, Ernst revitalized the Canadian market presence at the American Stock Exchange through dual-listing initiatives and later focused on international market expansions in Asia. Currently, as Managing Director at Kingswood U.S. and Chief Investment Officer for a Canadian family office, Ernst’s global financial acumen is set to advance CMI’s efforts in sustainable critical minerals development. His appointment is well-received by CMI, anticipating significant contributions to navigating the evolving landscape of critical minerals.

  • December 05, 2024 – Please God just give us one more bull market, I promise not to blow it this time https://bit.ly/3VoFTxW
  • December 04, 2024 – China’s Critical Minerals Export Ban Escalates Trade Tensions with the U.S. https://bit.ly/41fuMLt
  • December 03, 2024 – The Great Chinese Headfake https://bit.ly/4fUELuo
  • December 03, 2024 – F3 Uranium Reports High-Grade Results at JR Zone, Highlighting Growth Potential in the Athabasca Basin https://bit.ly/3Zyx0oa
  • December 01, 2024 – Critical Minerals Institute (CMI) Announces the Appointment of Kevin Ernst to its Board of Directors, Strengthening Its Expertise in Global Financial Strategies for the Critical Minerals Sector https://bit.ly/41c3SnW

Investor.News Member News:

  • December 5, 2024 – Energy Fuels and Madagascar Government Execute Memorandum of Understanding to Further Advance Toliara Critical Mineral Project in Madagascar https://bit.ly/3B4z2TD
  • December 5, 2024 – Appia Mobilizes for Drilling Campaign to Test Promising Drill Targets Obtained from Recently Completed Airborne Gravity Gradiometer Survey over Alces Lake Project, Saskatchewan https://bit.ly/49mtZug
  • December 5, 2024 – Power Nickel Announces Shareholder Approval and Court Approval of Spin-Out of Golden Ivan Property and Chilean Assets https://bit.ly/3Zo4Nij
  • December 4, 2024 – First Phosphate Announces Positive Results of Preliminary Economic Assessment at its Begin-Lamarche Property in Saguenay-Lac-Saint-Jean, Quebec, Canada https://bit.ly/3ZAxBWo
  • December 4, 2024 – Ucore Secures Strategic Advantage with Louisiana Foreign Trade Zone Amid Proposed U.S. Trade Policies https://bit.ly/4imK7ju
  • December 4, 2024 – Nano One Provides Progress Update on Its Alliance with Worley and Cost Comparison Demonstrating the Case for One-Pot(TM) Enabled LFP Cathode Production https://bit.ly/4f081hZ
  • December 3, 2024 – Voyageur Announces Closing of First Tranche of Private Placement https://bit.ly/3ZgDp65
  • December 3, 2024 – Ucore Provides Corporate Update https://bit.ly/49kr5Go
  • December 3, 2024 – NEO Battery Materials Confirms Stable and Unaffected Operations Amid South Korea’s Declaration of Emergency Martial Law https://bit.ly/4fV2PNx
  • December 3, 2024 – NEO Battery Materials Announces Director Resignation and Updates to Upcoming Corporate Webinar https://bit.ly/41fA2i8
  • December 3, 2024 – F3 Hits 4.5m of 50.1% U3O8 Within 30.9% Over 7.5m at JR https://bit.ly/41ffQwQ
  • December 2, 2024 – Panther Metals PLC: Resourcing Tomorrow and Presentation https://bit.ly/3CWDaWg
  • December 2, 2024 – Nord Precious Metals Aligns with Ontario’s New Mining Strategy to Fast-Track Silver Recovery https://bit.ly/3OzhzFN
  • December 2, 2024 – First Phosphate Corp. Signs License Agreement with Prayon SA, Global Leader in MGA Phosphoric Acid Technology https://bit.ly/4iu8Tyv
  • December 2, 2024 – Power Nickel Completes Hole 80 Stepping Out an Additional 150 Meters Along Strike West from the Lion Zone at the Nisk Project https://bit.ly/3Bb3LOO

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