Chile Copper Miner Offers Chinese Smelters Negative Processing Fees as Talks Start

Chilean copper miner Antofagasta Plc has proposed negative treatment charges for sales to Chinese smelters amid a global squeeze on supplies of ore, according to people familiar with the negotiation.
Antofagasta made an initial offer this week at a treatment charge of -$15 a ton for supplies to Chinese clients, the people said, asking not to be identified discussing a sensitive commercial matter. The number was first reported by Mysteel Global.

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E&E News

2 hours ago

• E&E News

$60M deal blocks mine near Georgia's Okefenokee Swamp

A high-profile, yearslong fight over a proposal to mine near the nation's largest blackwater swamp in Georgia has come to an end. The Conservation Fund, a nonprofit that buys at-risk lands for preservation, announced Friday that it paid about $60 million to buy land adjacent to the Okefenokee National Wildlife Refuge where Twin Pines Minerals was pushing to mine for titanium, killing the project. In addition to almost 8,000 acres, the group also acquired the underlying mineral rights to the land, blocking mining along an area known as the Trail Ride — a long, sandy ridge formation adjacent to the refuge. Scientists and activists had warned mining there could damage the integrity of the swamp, as well as historical and cultural assets. Advertisement The Okefenokee Swamp, home to the largest national wildlife refuge east of the Mississippi River, contains several endangered and threatened species, including the red-cockaded woodpecker, wood stork and eastern indigo snake. Stacy Funderburke, the fund's vice president of the central Southeast region, said urgency to reach a deal ramped up after Georgia regulators issued a draft permit for the mine last year despite pushback from top Biden administration officials and celebrities like movie star Leonardo DiCaprio. '[There's been] a huge outcry, citizens across Georgia wanting to stop this,' Funderburke said. 'It became pretty clear once the draft permit was issued last year that there weren't many exit ramps left for them to take outside of some type of buyout.' Twin Metals did not respond to a request for comment. The Conservation Fund, Funderburke said, relied on its revolving fund to purchase the land, an effort that was backed by philanthropic groups including the James M. Cox Foundation and the Holdfast Collective, a nonprofit that outdoor apparel giant Patagonia established. The fight that unfolded around Twin Metals' project underscored the difficulties of trying to mine in ecologically sensitive areas. The Birmingham, Alabama-based company has tried since 2019 to advance the project — facing pushback in court, in the state Legislature and on Capitol Hill — and was recently called on to set aside a $2 million surety bond for future restoration of the site. Twin Metals insisted the mining would be outside of the swamp and could be done safely and that the mine would produce titanium, a critical mineral used in defense equipment, spacecraft, automobiles, high-tech electronics, and other applications like paint and coatings. Focus now turns to the ongoing push for permanent protections for the swamp. The federally protected wildlife refuge was nominated under the Biden administration to be added to a list of globally treasured natural and cultural sites recognized by the United Nations. There are currently 26 such sites in the U.S. that have been designated as UNESCO World Heritage sites, including sites like Yellowstone and the Redwoods National and State Parks. The Interior Department did not immediately respond when asked whether the Trump administration backs such a designation. Sonny Perdue, a former two-term Georgia governor who led the Department of Agriculture during Trump's first term, called on the agency in April to support such a move. Funderburke said he's pursuing more protections for the swamp, while acknowledging other areas near the edge of Okefenokee remain open to mining exploration. 'There are still additional properties where there are future mining threats, so we will be paying close attention to that,' he said. 'But I do think this was the most imminent.'

Associated Press

6 hours ago

• Associated Press

Trimera Metals Announces Listing on the Canadian Securities Exchange Under Symbol 'TRM'

VANCOUVER, BC / ACCESS Newswire / June 20, 2025 / Trimera Metals Corp. ('Trimera' or the 'Company') is excited to announce that its common shares have been accepted for listing on the Canadian Securities Exchange ('CSE') and will commence trading on the CSE on June 23, 2025 under the symbol 'TRM'. The CSE is one of Canada's leading stock exchanges by number of securities listed and trading activity and is recognized for its listings of emerging high growth companies. Listing Information: Symbol: CSE:TRM CUSIP: 89626F103 Issued Shares: 17,132,501 For further information respecting the listing, please see the CSE's bulletin dated June 20, 2025. Patrick Donnelly, CEO of Trimera, states 'Our listing on the CSE represents an important step forward for the Company. It reflects the hard work of our team and sets the stage for our efforts at Tahlo lake and our work on other properties in the future. We envision Trimera becoming a leader in the exploration and development sector, leveraging our network and experience and creating sustainable value for our shareholders.' About Trimera Trimera is a junior exploration company focused on the exploration, development, and advancement of its Tahlo Lake property, located in south-central British Columbia. Tahlo Lake is comprised of four wholly-owned mining claims totaling approximately 1,692 hectares. For more information, please consult the Company's filings, available at On Behalf of the Board of Directors Patrick Donnelly CEO & Director Contact Information Patrick Donnelly (604) 506 8120 Forward-Looking Statements The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward-looking statements and includes statements respecting (i) the expected trading date for the Company's shares on the CSE, (ii) Company's plans for Tahlo Lake, (iii) the listing setting the stage for the Company's efforts at Tahlo lake and work on other properties in the future and (iv) Trimera becoming a leader in the exploration and development sector, leveraging its network and experience and creating sustainable value for its shareholders. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise. The Canadian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release. SOURCE: Trimera Metals Corp. press release

Yahoo

8 hours ago

• Yahoo

UBS Boosts Hess (HES) Price Target, Keeps Buy Rating

Hess Corporation (NYSE:HES) is one of the 10 Best Oil and Gas Stocks to Buy Now. On June 11, UBS increased its price target on Hess Corporation (NYSE:HES) from $163 to $173 while keeping a 'Buy' rating. UBS analysts raised the price target because of the firm's updated valuation of Hess Corporation's (NYSE:HES) Guyana operations. UBS expects stronger production in Guyana. This outlook is supported by tiebacks and infill drilling, as well as lower operating costs. An oil tanker sailing across the horizon, conveying the importance of crude oil transportation for the company. The firm also noted that Hess Corporation (NYSE:HES) is currently involved in an arbitration process, which is expected to last until late August or September of this year. Additionally, UBS increased its downside case valuation for Hess Corporation (NYSE:HES) to $126 per share. This suggests that there is now less risk of the stock declining. This new assessment relies on the reported discoverable resources of over 11 billion barrels of oil equivalent (Bpoe). The firm believes that if the resources reach 15 Bpoe, the downside potential could be even lower. UBS highlighted that Hess Corporation (NYSE:HES) offers a positive 3.4:1 risk/reward ratio compared to Chevron's price target. The firm believes that Hess Corporation (NYSE:HES) is 'the more levered way to gain upside exposure to CVX.' Hess Corporation (NYSE:HES) is an American global independent energy company that specializes in the exploration and production of oil, gas, and energy solutions. While we acknowledge the potential of HES 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: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. 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