Baltic Dry Index fell slightly

Alma Metals (ASX: ALM) holds 2 million tonnes of copper resources at its Briggs Copper Project in Queensland, making it the largest undeveloped copper project in the state. The company plans to increase the resource estimate to 3 to 4 million tonnes through future drilling campaigns and leverage the surrounding well-established infrastructure to advance the completion of a Pre-Feasibility Study.

Taseko Mines' Florence Copper project in Arizona has successfully produced its first copper cathodes, marking the first new copper production from a greenfield facility in the U.S. since 2008. The project employs a globally pioneering in-situ copper recovery technology and is expected to produce 85 million pounds of LME Grade A copper annually, making it the third-largest copper producer in the country. All copper produced will be supplied to the U.S. domestic market, supporting supply chain security for key sectors such as automotive, semiconductors, and defense.

Elemental Royalty Corporation (NASDAQ: ELE) has taken note of the announcement by Quilla Resources Inc. regarding the successful production of first copper cathode at the Chapi Copper Project in southern Peru. Elemental holds a 2.0% net smelter return royalty on the project and expects to receive its first royalty payment from Chapi in the first quarter of 2026. Company CEO David M. Cole stated that Quilla has rapidly advanced the project since acquiring the brownfield asset, completing technical refurbishment and operational planning on schedule and within budget. Production is now ramping up toward an initial nameplate capacity of approximately 10,000 tonnes of copper cathode per year, with this swift progress underscoring the project's value and potential.