Carney Announces $2B Auto Industry Protection Plan
Prime Minister Mark Carney unveiled a $2 billion Strategic Response Fund aimed at protecting Canada’s automotive manufacturing sector from threatened US tariffs, announcing the plan in Windsor, a key hub of the country’s auto industry. The initiative responds to President Donald Trump’s proposal to impose 25% tariffs on automotive imports, which analysts estimate could add […]
Ford Faces Supply Disruption After New York Aluminum Plant Fire
Ford (NYSE: F) faces months of supply disruption after a three-alarm fire shut the hot mill at Novelis’s Oswego plant, an asset that supplies about 40% of the aluminum sheet used by the US auto industry and a major source for Ford’s F-150. Novelis says “a major portion” of Oswego is offline until early next […]
Trump Holds The Dairy Line In CUSMA Talks
President Donald Trump kept dairy as a non-negotiable in any new North American trade arrangement after a two-and-a-half-hour White House meeting on Tuesday, with Prime Minister Mark Carney leaving Washington without a deal and Canada’s delegation characterizing talks as positive but inconclusive. Trump’s position was explicit: he “doesn’t care” if there will be a new […]
Canada Deficit to Hit $100 Billion, More Than Double Forecast
A leading bank economist expects Canada’s federal deficit to reach C$100 billion this fiscal year, more than double what the government forecast in December. Stefane Marion, chief economist at the National Bank of Canada, said the deficit would represent about 3% of the country’s gross domestic product. The projection significantly exceeds the C$42 billion deficit […]
Gold Hits Record $4,000 As Shutdown Fuels Market Uncertainty
Gold prices crossed the historic $4,000-per-ounce threshold during Tuesday’s trading session before settling back, marking an unprecedented achievement for the precious metal. Futures contracts for gold started Tuesday’s session at $3,983 an ounce, representing a nearly 1% gain from the prior day’s closing figure of $3,948.80. During early market activity, prices pushed beyond the $4,000 […]
McEwen Copper’s Los Azules Feasibility Study Pegs $2.94B NPV8%, 19.8% IRR
McEwen Copper, a subsidiary of McEwen Inc (TSX: MUX) released a feasibility study for its Los Azules copper project that delivers an after-tax NPV8% of $2.94 billion, an IRR of 19.8%, and a 3.87-year payback at a modeled copper price of $4.35 per pound. The plan outlines a 21-year operation averaging 204,800 tonnes of copper […]
Endeavour Silver Reports Q3 Production Of 3.0 Million Silver Equivalent Ounces
Endeavour Silver (TSX: EDR) this morning released third quarter production results, with the company reporting 1.77 million ounces of silver, and 7,286 ounces of gold were produced in Q3. Silver equivalent production, which includes base metals, totaled 3.0 million ounces. Silver production is said to have been in line with plan, and 102% higher than […]
Teck Resources Slashes Guidance Across Operations Following Operational Issues
The copper market continues to get tighter. Teck Resources (TSX: TECK.b) this morning became the latest copper producer to reduce copper production guidance, with the reduction coming amid operational issues at their Quebrada Blanca mine in Chile. QB continues to face constraints in connection with the development of their tailings management facility, with the copper […]
Cenovus Bumps MEG Energy Offer To $29.80 A Share
Cenovus Energy (TSX: CVE) evidently was getting nervous that it did not have the required shareholder support for the proposed acquisition of MEG Energy (TSX: MEG). The company early this morning elected to revised their offer to acquire MEG, bumping total consideration up to $29.80 per share. The revised offer represents an increase of $2.35 […]
xAI Raises $20 Billion in Funding Round Backed by Nvidia
Elon Musk’s artificial intelligence startup xAI is raising $20 billion in one of the industry’s largest funding rounds, with chipmaker Nvidia (Nasdaq: NVDA) investing up to $2 billion, Bloomberg News reported Tuesday. The deal brings together roughly $7.5 billion from equity investors and as much as $12.5 billion in debt financing, according to people familiar […]