Daily Mining Industry Report: October 9, 2025

Coverage window: Approximately the last 24 hours (to ~4:00 p.m. ET).

Canada Spotlight

• TSX opens higher on metals strength. Canada’s main index edged up at the open as materials stocks climbed alongside stronger metal prices. The S&P/TSX Composite was up ~0.12% at 9:31 a.m. ET. Reuters

• Teck Resources trims 2025 copper guidance. Teck cut its copper output forecast, citing operational issues, a move that helped push copper to new recent highs. Markets are watching for knock-on effects on concentrate supply. Reuters

• Capstone Copper: major shareholder selldown. Hadrian Capital Partners launched a ~A$688 million (US$454 million) block trade of Capstone Copper CDIs at A$13.75—about a 6.7% discount to the prior close—handled by Citi and Macquarie; Hadrian issued a related beneficial-ownership update. TradingView+1

• Franco-Nevada signals new growth focus in Australia. The Toronto-based royalty/streaming company said it is expanding its presence in Western Australia, hiring locally to back junior gold developers amid record gold prices—an allocation move relevant to Canadian investors exposed to FNV. MINING.COM

Global Policy & Regulation

• China tightens export controls on rare earths. Beijing expanded its export-control list to include additional rare-earth products (e.g., certain alloys and magnets), escalating supply-chain scrutiny for downstream manufacturers. Invalid URL

• U.S. delays Wyoming coal lease sale. The Interior Department postponed a planned Powder River Basin lease sale to assess legal and environmental issues, extending uncertainty for U.S. thermal coal supply. Reuters

• DRC moves to manage cobalt market. Following a February export ban, the DRC has now set quotas for the rest of 2025 and for 2026–27 (96,600 t/y caps for 2026–27), aiming to drain inventories and stabilize prices—LME cobalt has risen to the highest since Feb. 2023. Reuters

Major Project & Company Updates

• Hot Chili (TSX-V: HCH) clears regulatory step at La Verde (Chile). The company received sectoral approval to expand drilling across the La Verde Cu-Au discovery south of Costa Fuego; Phase-2 diamond drilling is underway, with assays pending. Newswire

• Integra Resources advances Florida Canyon (Nevada). The Canadian company reported additional near-mine oxide drill results and initial dump-material volume/grade estimates, supporting potential mine-life extensions and an updated LOM plan targeted for H1-2026. Newswire

Technology & Innovation

• Survey & mapping tech adoption: drone mapping build-out continues. New industry research points to accelerating uptake of drone-based 3D mapping across industrial sectors, including mining, to improve site surveying, volumetrics, and operational safety—supporting further digitization of mine planning workflows.

Markets Snapshot

• Gold held above US$4,000/oz, supported by macro uncertainty and shifting rate expectations. Silver also printed a fresh record, briefly approaching US$50/oz. Reuters+1

• Copper touched a 16-month high after Teck’s guidance cut reinforced tightness narratives (concentrate supply, project delays). Reuters+1

• Canadian equities: Materials led early-session gains on the TSX, echoing metal price strength. Reuters

Notable Context for Canada-focused investors

• Canadian producers and royalty/streaming names are leaning into elevated precious-metals pricing (e.g., FNV’s WA push), while base-metals exposure is being reshaped by guidance changes (Teck) and secondary-market share flows (Capstone). Policy risk remains elevated across critical minerals (China REEs; DRC cobalt), with potential downstream implications for Canadian projects and offtake agreements. Reuters+4MINING.COM+4Reuters+4

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