Business
Raytheon Wins $745 Million MDA Contract for SM-3 IIA Interceptors
Raytheon, an RTX business, won a $745 million Missile Defense Agency contract for SM-3 IIA interceptor production and sustainment through 2031.
Commodities
Smartkem Strikes $125 Million All-Stock Deal for Ferrox
Smartkem agreed to acquire Ferrox Critical Minerals in an all-stock deal valuing Ferrox at $125 million, adding South African critical minerals exposure.
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SSR Mining Shares Fall After Q2 Costs Climb and Output Slips
SSR Mining reported Q2 production of 101,959 gold-equivalent ounces and AISC of $2,622 per ounce, while maintaining a $0.03 quarterly dividend.
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China Gold Imports Hit 26-Month High in May, up 76% Year to Date
China imported about 163 tonnes of gold in May, the highest in 26 months, lifting 2026 imports through May to roughly 692 tonnes, up 76% year over year.
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Global Lithium Wins Manna Mine Plan Approval in Western Australia
Global Lithium won WA approval for Manna's mine development and closure plan, supporting early works, a Q4 2026 FID and 2027 DSO.
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Shell Sells European Onshore Renewables Business to TotalEnergies
Shell will sell its European onshore renewables business to TotalEnergies, extending its focus on upstream, LNG and trading. Closing is expected by end-2026.
China State Buyers Book Large U.S. Soybean Volumes Ahead of Xi Visit
Chinese state trading firms bought an estimated 14 to 16 cargoes of U.S. soybeans after a price dip, ahead of Xi Jinping's expected U.S. visit.
Iraq's SOMO Cuts August Basrah Prices for Hormuz-Loaded Cargoes
Iraq's SOMO offered steep discounts on August Basrah crude loaded inside Hormuz, reflecting Gulf transit risk and possible pressure on sour crude benchmarks.
British Columbia clears Vitreo's Angus silica sand mine after environmental review
British Columbia issued an environmental assessment certificate for Vitreo's $300 million Angus silica sand mine, letting the project advance to permitting.
Cameco restarts Cigar Lake as McClean Lake mill returns to service
Cameco has resumed production at Cigar Lake after Orano restarted the McClean Lake mill, with 2026 output guidance unchanged at 17.5-18.0 million lb.
Crude oil hits four-week high as Middle East risks rise
Brent and WTI rose to four-week highs on renewed Middle East supply fears, while gold struggled to hold gains despite softer U.S. inflation data.
U.S. revokes Iran oil export license, restoring full sanctions
Treasury revoked a license allowing Iranian oil exports, restoring sanctions and requiring a wind-down by July 17 after tanker attacks near Hormuz.
Canada backs Novamera, Koonkie mining projects with C$6.7 million
Canada will provide C$6.7 million to Novamera and Koonkie mining projects focused on precision critical-minerals extraction and AI mine restoration.
Canada commits C$6.7 million to AI mining and restoration projects
Canada will provide C$6.7 million to Novamera and Koonkie projects focused on AI-driven critical-minerals mining and mine-site restoration.
Shell to sell India renewables platform Sprng Energy for $1.8 billion
Shell agreed to sell India renewables platform Sprng Energy to Aditya Birla Renewables for about $1.8 billion, exiting the market pending approvals.
Gold and silver retreat ahead of Fed minutes as dollar firms
Gold and silver fell on July 7 as investors positioned ahead of Fed minutes, with a stronger dollar and higher yields pressuring bullion prices.
Gold Falls Below 200-Day Average as Bear Market Deepens, OANDA Says
OANDA said gold closed at $3,972 on July 1, down 10.4% month on month and below its 200-day average, as tighter U.S. monetary conditions weighed.
South32 Wins U.S. Approval to Expand Hermosa Project in Arizona
South32 secured a final U.S. Forest Service decision for Hermosa in Arizona, clearing a major federal permitting hurdle for the critical minerals project.
Copper futures rise after fatal collapse halts Codelco's El Teniente mine
Copper futures climbed after a fatal collapse at Codelco's El Teniente mine in Chile raised new supply concerns in an already tight market.
India to Keep Buying Russian Oil Despite Trump Tariff Threat
India said it will keep buying Russian crude and has issued no directive to refiners, despite Trump's tariff threat tied to Moscow oil purchases.
India Waives 11% Cotton Import Duty Through October to Cut Textile Costs
India suspended its 11% cotton import duty from June 1 through end-October 2026 to cut textile input costs and increase raw cotton availability.
Oil Futures Rise as Iran Strikes Deepen Strait of Hormuz Risk
WTI and Brent opened higher after Iranian strikes on Bahrain and Kuwait and a tanker attack near Hormuz raised new risks for oil shipping and supply.
Cameco Halts Cigar Lake Mining After Acid Plant Failure at McClean Lake Mill
Cameco suspended Cigar Lake mining after a sulfuric acid plant failure at Orano's McClean Lake mill, with processing expected to resume in about two weeks.
China Extends Fortescue Iron Ore Curbs to New Purchases
China Mineral Resources Group widened curbs on Fortescue's Super Special Fines to include new purchases, escalating pressure in contract talks.
Canada Pledges C$500 Million for Newmont’s Red Chris Copper Expansion
Canada pledged C$500 million to support Newmont’s Red Chris underground expansion in British Columbia after key approvals, ahead of a final investment decision.
G7 Sets 2030 Target to Cut Rare Earth Supply Dependence
G7 leaders set a target to cut single-supplier dependence in rare earths and magnets, adding recycling, stockpiling and supply-chain tracing.
DOE Awards Georgia Tech $7.5 Million for Atlantic Minerals Mapping
DOE awarded Georgia Tech $7.5 million to lead CM-MAP, a regional effort to map and assess critical minerals in Atlantic Coastal Plain deposits and waste.
Study Warns Critical Minerals Stockpiling Could Deepen Supply Disruptions
A new study says uncoordinated critical mineral stockpiling could worsen shortages and price volatility in cobalt, lithium, graphite and copper.
Copper and Gold React to Supply Disruptions and Fed Signals
Copper and gold are moving on mine disruptions and Fed expectations, supporting producer cash flow while raising volatility and policy risk.
Greenland Mines Takes 9.9% Stake in AnorTech, Signals Push Into Critical Minerals Processing
Greenland Mines Ltd (Nasdaq: GRML) announced a strategic share-exchange investment in AnorTech Inc.
Editor's Pick
Anthropic and OpenAI Test the Rules for Valuing AI Revenue
AI · · 6 min read
Combined private-market valuations above $1 trillion rest on revenue growth that is real but far smaller, forcing investors to separate consumption run rate from durable recurring revenue.
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