JPMorgan unleashes $1.5T push for US critical minerals mining.com/jpmorgan-unleashe…

One of China’s biggest copper traders has been sentenced to life in prison, according to people familiar with the verdict. He Jinbi, founder of Maike Metals International, was sentenced over fraud, bribery and other offenses after a court found the company guilty last month. The ruling found Maike’s conduct exposed several Chinese banks to more than $1 billion of potential losses. At its peak, Maike handled one in every four metric tons of copper imported into China. The company filed for bankruptcy in November 2023. He has appealed the verdict, and the judgment has not been made public. Source: Bloomberg

Fed rate hike odds for Wednesday have fallen to under 10% from about 70% a month ago, according to the World Gold Council. The recent decline in bond yields reflects a rotation into Treasuries amid weakness in AI-related stocks, rather than a meaningful softening in inflation expectations, the council says. That leaves markets vulnerable to Thursday’s PCE inflation print, which is expected to accelerate to 3.6% year on year. Q3 GDP growth is also due Thursday and is expected to rise to 3.2% from 2.2%, which could temper the rotation into bonds and call into question the recent apparent preference for bonds over gold. Source: World Gold Council

Canada Nickel, Swiss Steel plan transatlantic partnership mining.com/canada-nickel-swi…

RT @ceodotca: The US Department of Energy added helium to its Critical Material List last week, saying it is “non-substitutable for multipl…

Chinese companies account for 9.2% of the investment approved for Argentina’s mining projects, according to Chilean consultancy Plusmining. A widely cited estimate links them to 70% of planned lithium capacity. The two measure different things. The 70% covers announced lithium capacity, including projects awaiting approval. The 9.2% is China’s ownership-weighted share of investment in projects approved under the Large Investment Incentive Regime (RIGI). That 9.2% would rise to 22.3% if all three pending lithium projects with Chinese shareholders are approved.

Canada’s largest copper mine, which produced 127,100 metric tons in 2025, is running at reduced capacity after workers went on strike Saturday, Teck said. That was about 28% of Teck’s total output of 453,500 metric tons last year. The strike involves United Steelworkers Local 7619, which represents about 1,200 workers at Highland Valley Copper. All 944 members who took part in the strike vote supported a walkout, the union said. The dispute centers on wages, pensions and staffing. Teck says the production impact will depend on how long the strike lasts. Source: Teck, United Steelworkers

Strike curbs output at Canada’s largest copper mine mining.com/strike-curbs-outp…

India has issued permits for about 6,500 metric tons of silver imports over the next six months, four bullion dealers who received them told Reuters. Dealers said premiums over official domestic prices fell to 45 cents an ounce on Thursday from as much as $2.50 the previous week. Domestic demand for silver jewelry and investment remains weak as prices fall, and India relies on overseas purchases for more than 80% of its silver demand. “The government has allowed much more silver to be imported than the country is likely to need over the next six months,” the CEO of Amrapali Group Gujarat said. Source: Reuters

Local miner outbids Freeport for Colombia exploration mining.com/local-miner-outbi…

In 67 days, the Pentagon’s restriction on NdFeB magnets will cover the entire supply chain, from mining of neodymium, iron and boron through production of finished magnets. Today it covers melting and the later stages of magnet production. From January 1, 2027, Pentagon contractors may not deliver covered material mined, refined, separated, melted or produced in China, Russia, Iran or North Korea. The same change reaches back to ore for samarium-cobalt magnets, tantalum and tungsten. The clause allows exceptions, including a nonavailability determination by the agency. The US-China truce suspending China’s October 2025 rare earth export controls was extended to January 10, 2027, nine days later. Source: China Briefing

Codelco, BHP launch $40M copper hunt in northern Chile   mining.com/codelco-bhp-launc…

World copper mine production fell 0.9% in the first eight months of 2026 while refined output rose about 1.7%, according to preliminary International Copper Study Group data. Mine output change by country • Mongolia concentrate, +20% (Oyu Tolgoy) • Peru, +1.3% (Antamina) • Chile, -7% (El Teniente, Escondida, Spence) • Australia, -10% (Mount Isa) • DRC concentrate, -26% (Kamoa) • Indonesia concentrate, -29% (Grasberg) ICSG puts the apparent refined surplus at 218,000 metric tons, against about 158,000 a year earlier. Source: International Copper Study Group

Lula’s Brazil win puts rare earths in Trump’s crosshairs mining.com/lulas-brazil-win-…

Buried sediments prove Romans mined gold in Pyrenees mining.com/buried-sediments-…

BlackRock’s Evy Hambro expects gold to keep rising as government debt, deficits and currency depreciation worsen. He told MoneyWeek that gold miners again offer about three times the leverage to the gold price, because mining costs are rising more slowly than prices. When he began his career about three decades ago, gold was about $400 an ounce and copper about 60 cents a pound. They are now about $4,000 and $6 a pound. Source: investingLive

China’s Argentina mining footprint smaller than it looks mining.com/chinas-argentina-…

Gold’s sharp drop on October 22 looks somewhat overdone, according to Mirae Asset Sharekhan. “Sharp decline in gold prices on October 22 came mainly on higher oil prices, which looks somewhat overdone as the US yields fell,” said Praveen Singh, head of commodities. “As oil prices are expected to rise further, the shiny metal may fall further.” He said a decisive breach of $4,000 support would bring $3,930 into focus. Source: Business Standard

Margin calls from the tech sell-off have pushed traders to sell gold and silver, according to American Gold Exchange @AmGoldEx . “Heightened inflation concerns suggest that major central banks of the world won’t be able to ease monetary policies as quickly as they want to,” market analyst Jim Wyckoff said. “All that’s working against the gold and silver market bulls at present.”