Chile Delivers Biggest Copper Output This Year in Tight Market
The country that accounts for about a quarter of the world's mined copper churned out 486,574 metric tons in May, up 9.4% from the same month last year, according to data released Monday by statistics bureau INE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
OPEC+ agrees big output hike to finish unwinding round of cuts
(Bloomberg) — OPEC+ agreed on another bumper oil production increase for September, completing its current tranche of supply revival one year early as the group moves to reclaim its share of global crude markets. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance Saudi Arabia and its partners agreed on a video conference to add about 548,000 barrels a day next month, delegates said. This completes the reversal of a 2.2 million-barrel cutback made by eight members in 2023, and also includes an extra allowance being phased by the United Arab Emirates. Another layer of about 1.66-million barrels of halted output will be reviewed by the end of December, one of the delegates said. The latest hike caps a dramatic shift from the Organization of the Petroleum Exporting Countries and its partners from defending prices to opening the taps, which has helped put a lid on oil and gasoline futures in the face of geopolitical tensions and strong seasonal demand, offering some relief for drivers and a win for US President Donald Trump. The accelerated increases have helped fuel expectations for a global supply surplus later in the year. Sunday's decision, confirming an agreement in principle first reported on Saturday by Bloomberg, also comes as President Trump intensifies diplomatic pressure on OPEC+ co-leader Russia. Trump has threatened Moscow with secondary tariffs on its oil customers unless there is a swift ceasefire in the war in Ukraine. A disruption to Russian flows would threaten to drive up crude prices and run counter to Trump's repeated call for cheaper oil, as he pushes the Federal Reserve to lower interest rates. Russia's Deputy Prime Minister Alexander Novak made a rare visit to Riyadh on Thursday to discuss 'cooperation between the countries' with Saudi Arabian Energy Minister Prince Abdulaziz bin Salman. The two countries have jointly led OPEC+ since its creation almost a decade ago. How Podcast-Obsessed Tech Investors Made a New Media Industry Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Russia Builds a New Web Around Kremlin's Handpicked Super App Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts What's Really Behind Those Rosy GDP Numbers? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
OPEC+ Agrees Big Output Hike to Finish Unwinding Round of Cuts
(Bloomberg) -- OPEC+ agreed on another bumper oil production increase for September, completing its current tranche of supply revival one year early as the group moves to reclaim its share of global crude markets. The World's Data Center Capital Has Residents Surrounded An Abandoned Art-Deco Landmark in Buffalo Awaits Revival We Should All Be Biking Along the Beach Seeking Relief From Heat and Smog, Cities Follow the Wind NYC Mayor Adams Gives Bally's Bronx Casino Plan a Second Chance Saudi Arabia and its partners agreed on a video conference to add about 548,000 barrels a day next month, delegates said. This completes the reversal of a 2.2 million-barrel cutback made by eight members in 2023, and also includes an extra allowance being phased by the United Arab Emirates. Another layer of about 1.66-million barrels of halted output will be reviewed by the end of December, one of the delegates said. The latest hike caps a dramatic shift from the Organization of the Petroleum Exporting Countries and its partners from defending prices to opening the taps, which has helped put a lid on oil and gasoline futures in the face of geopolitical tensions and strong seasonal demand, offering some relief for drivers and a win for US President Donald Trump. The accelerated increases have helped fuel expectations for a global supply surplus later in the year. Sunday's decision, confirming an agreement in principle first reported on Saturday by Bloomberg, also comes as President Trump intensifies diplomatic pressure on OPEC+ co-leader Russia. Trump has threatened Moscow with secondary tariffs on its oil customers unless there is a swift ceasefire in the war in Ukraine. A disruption to Russian flows would threaten to drive up crude prices and run counter to Trump's repeated call for cheaper oil, as he pushes the Federal Reserve to lower interest rates. Russia's Deputy Prime Minister Alexander Novak made a rare visit to Riyadh on Thursday to discuss 'cooperation between the countries' with Saudi Arabian Energy Minister Prince Abdulaziz bin Salman. The two countries have jointly led OPEC+ since its creation almost a decade ago. How Podcast-Obsessed Tech Investors Made a New Media Industry Everyone Loves to Hate Wind Power. Scotland Found a Way to Make It Pay Off Russia Builds a New Web Around Kremlin's Handpicked Super App Cage-Free Eggs Are Booming in the US, Despite Cost and Trump's Efforts What's Really Behind Those Rosy GDP Numbers? ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
Franco-Nevada (FNV) Expands Nevada Royalty Portfolio with $250M Arthur Gold Deal
Franco-Nevada Corporation (NYSE:FNV) is one of the best stocks to buy amid gold rally. On July 23, Franco-Nevada Corporation, through its wholly-owned subsidiary, acquired a 1.0% net smelter return (NSR) royalty on AngloGold Ashanti's Arthur Gold Project, formerly the Expanded Silicon Project. The royalty was purchased from Altius Minerals Corporation for $250 million in cash, with an additional $25 million payable pending arbitration outcomes. A close-up shot of a corporate executive evaluating a financial instrument. Franco-Nevada's new royalty covers a major part of the Merlin and Silicon gold deposits in Nevada and comes with no reductions or buyout options. The Arthur Gold Project has grown significantly, with gold resources rising 20% in a year—now totaling 3.4 million ounces of indicated and 12.9 million ounces of inferred resources. As of the end of 2024, 430 kilometers of drilling had been completed, including 132 kilometers just that year. AngloGold, a top-tier mining company, plans to finish an early study by late 2025 or early 2026 for a large gold operation. Franco-Nevada paid using cash on hand and borrowed $175 million from its $1 billion credit line. The deal qualifies for tax benefits. If a legal decision supports Altius' wider royalty claims, Franco-Nevada will pay an extra $25 million. Altius still holds a smaller 0.5% royalty and Franco-Nevada has the right to buy it first if it's sold. Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. It manages a diversified portfolio of cash-flow producing assets across precious metals, energy, and other commodities. The company's core business involves acquiring royalties and metal streams from mining operations, providing investors with exposure to gold prices and exploration upside while avoiding direct operational risks. While we acknowledge the potential of FNV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. 登入存取你的投資組合
