⛏ Copper Gets Perky

PLUS: LAC Gets Massive Loan

👷‍♀️ Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and play golf. 🏌️‍♀️

📌 Commodity Prices

Source: Trading Economics, Numerco.

📝 Here are the highlights

👏 Copper Gets Perky

💰 LAC Gets Massive Loan

🐦 Making Stupid Decisions

👏 Copper Gets Perky

Copper prices reached a seven-month peak on Wednesday after major Chinese smelters decided to cut production, pushing prices on the London Metal Exchange to the equivalent of $4.07 lb, the highest since the summer of 2023.

The decision led to a significant rise across global markets, including a 3.3% increase in the COMEX market in New York. This surge was a response to an agreement among China's largest copper smelters to reduce loss-making production, although specific details on volumes and timing were not disclosed…. Cartel secrets and all for strategic reasons.

The move comes amid a backdrop of falling smelter incomes to decade lows due to competition for copper concentrates and expectations of new smelter projects exacerbating supply pressures.

Prices have softened a bit today, so all that’s left is watch if the move is sustainable.

💰 LAC Gets Massive Loan

Lithium Americas (TSX: LAC; NYSE: LAC) secured a $2.26 billion loan from the US Department of Energy to build processing facilities at Thacker Pass, Nevada, near its $2.2 billion mine projected to produce 40,000 tonnes of lithium carbonate annually.

This funding marks the DOE's largest loan to a mining company, supporting US efforts to reduce reliance on foreign minerals. The mine is expected to create 1,800 jobs during construction and 360 operational jobs over its 40-year lifespan.

General Motors has exclusive rights to the mine's lithium for up to 15 years post-2027 production start. Shares of Lithium Americas jumped 28% in New York and 18% in Toronto on the news.

Nobody cares about lithium anymore — except for all the companies/governments with very deep pockets.

📰 In Other News

🐦 Making Stupid Decisions

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