Minnova plans a C$76.2 million restart of the brownfield PL gold mine near Sherridon, Manitoba, targeting 62,200 oz per year over 10 years from a high‑grade open pit feeding an existing 1,000 t/d plant, which is slated to double to 2,000 t/d in year two. The September resource stands at 3.76 million measured and indicated tonnes at 4.98 g/t Au (601,158 oz) plus 1.67 million inferred tonnes at 3.78 g/t (202,810 oz), with open pits carrying a high 21:1 waste‑to‑ore strip ratio. At US$3,000/oz gold, the PEA projects an after‑tax NPV5 of US$180.6 million, 111% IRR, eight‑month payback and all‑in sustaining costs of US$2,288/oz, but value falls sharply at lower prices, underlining cost and strip sensitivity.

Tech companies are in talks to buy equity in Anglo American to secure long-term copper and other data centre metals, as Comex copper trades near $6.52/lb and LME cash copper recently hit a record $14,822/t. Anglo’s planned merger with Teck Resources would create a roughly $90 billion group producing about 1.2 million tonnes of copper per year, controlling around 5% of global supply, but is still awaiting Chinese antitrust clearance tied to concentrate flows to local smelters. Wanblad also warned Anglo may close its Brazilian nickel operations at Codemin and Barro Alto if the EU blocks the $500 million sale to MMG despite proposed long-term European ferronickel supply commitments.

Copper fell for a third straight session, with Comex December down 1.2% to $6.5810/lb ($14,508/t) and LME three‑month at $14,360/t, as hotter US inflation revived Federal Reserve hike odds and a deal at BHP’s Escondida eased near‑term Chilean supply risk. LME stocks have slipped to 228,000 t (down 8% this month) and the Comex–LME spread has shrunk to about $49/t, implying only ~2% odds of a 15% US import tariff in January on Macquarie’s modelling. Antofagasta dropped 6.4% in London after cutting its 2027 output outlook to 630,000–690,000 t and raising cash cost guidance on higher diesel.