SHFE and LME Zinc Inventories Diverged, Zinc Imports Will Surge after Import Window Reopens

Coherent launched PhotonLink, an integrated optics platform for AI infrastructure incorporating Indium Phosphide (InP) lasers, silicon photonics, detectors and optical modules. The company disclosed more than 10 CPO engagements, over 10 NPO engagements and more than five chip-to-chip connectivity projects, with anchor customers and long-term agreements secured for both CPO and NPO. Revenue is expected to begin ramping in Q4 2026. Coherent has shipped over 300 million InP lasers and is expanding its 6-inch InP manufacturing capacity to support the ramp. The customer pipeline provides a clearer commercial demand signal for InP devices and upstream materials, although additional capacity and indium consumption were not disclosed.

Adamera Minerals announced that JDS Energy & Mining had completed a preliminary underground inspection at its wholly owned Talisman project in Washington State. No immediate impediment to safe re-entry was identified, and mineralization including sphalerite was observed near the portal and adit. More than 200 soil samples await results. Significant underground work still requires detailed geotechnical assessment, support design and stope inspection. Mineral observations do not establish grade, continuity, tonnage or economic potential.

Windfall Geotek announced renewal of 592 hectares of claims in Canada’s Bathurst Mining Camp. Zinc targets at Upper Sprig Brook were generated using an AI model trained on zinc-copper assays from seven local volcanogenic massive sulphide deposits. The company plans historical-data compilation and rock or soil sampling to advance target validation and subsequent drill targeting. No new drilling assays or mineral resource estimate were announced.