Daily Mining Industry Report: October 8, 2025

Canada — Key Developments

• Teck cuts copper guidance; copper rallies: Teck Resources lowered its 2025 copper production outlook (now 415–465 kt vs. 470–525 kt prior) as operational issues persist at Quebrada Blanca and Highland Valley Copper; the downgrade helped push copper to a fresh multi-month high. MINING.COM+1

• TSX miners climb on record bullion: Canada’s S&P/TSX Composite closed up 0.5%, with the materials group +1.8% as gold surpassed US$4,000/oz for the first time, lifting gold producers. Reuters

• Canadian junior financing: Collective Mining closed concurrent financings for C$140 million gross proceeds to advance exploration/development, underscoring robust capital access for select TSX/TSXV issuers. FT Markets

• North American REE supply chain link: Critical Metals signed a 10-year LOI with U.S. processor REalloys for 15% of output from Greenland’s Tanbreez project; REalloys also holds the Hoidas Lake rare earth project in Saskatchewan, highlighting a Canada-U.S. supply chain tie. MINING.COM

Global Markets & Macro

• Gold sets yet another record: Spot gold surged past US$4,000/oz, logging its 40th record of 2025 amid safe-haven demand; gold-backed ETFs saw their biggest monthly inflow in 3+ years in September. Silver also hit a record near US$49.5/oz. MINING.COM+2MINING.COM+2

• Copper pops on supply concerns: Prices notched a new high after Teck’s guidance cut amplified fears of a near-term supply gap. MINING.COM

Policy, Regulation & Geopolitics

• Russia orders mandatory buyout for gold miner UGC minorities: The Bank of Russia told the state property agency to offer a compulsory buyout to UGC minority shareholders after the state seized a controlling stake—an enforcement move with implications for foreign investors’ exit rights. MINING.COM

• (Canada) No material federal or provincial mining policy changes were announced in the last 24 hours (as of 4:30 p.m. ET). We will flag any overnight developments in tomorrow’s brief.

Corporate & Project Updates

• Umicore monetizes gold inventory: The Belgian refiner said it would raise about €410 million by selling gold holdings into the rally; shares jumped intraday. MINING.COM

• Ariana Resources near first pour at Tavşan (Türkiye): All operating permits are secured; heap-leach production is expected this quarter, complementing output from Kızıltepe. MINING.COM

• Critical Metals advances offtakes at Tanbreez (Greenland): Second U.S. offtake LOI (REalloys for 15% of production) brings committed volumes to 25%, signaling momentum in non-Chinese REE supply chains. MINING.COM

Technology, Operations & ESG

• Processing & downstream capabilities (US/EU): The Tanbreez-REalloys LOI underscores growing full-cycle REE processing and magnet manufacturing capacity in Ohio, a technology-intensive step that can de-risk supply for allied markets (including Canada). MINING.COM

• Reclamation best practice (US): Alabama Mining Association recognized an exemplary reclamation project (Burton Bend) for long-term erosion control—illustrating techniques many operators are adopting to lower closure liabilities. FT Markets

What to watch (near term)

• Follow-through on copper after Teck’s update; look for guidance changes from other copper-weighted producers. MINING.COM

• Any Canadian company responses to sustained US$4,000+ gold, including updated hedge, capex, or dividend frameworks. MINING.COM

• Progress toward definitive agreements on Tanbreez offtakes and potential knock-on effects for Canadian REE assets (e.g., Hoidas Lake). MINING.COM

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