Morning Briefing: Copper Markets Respond to Freeport's Force Majeure at Grasberg
Good morning and welcome back to the Mining Stock Daily morning briefing. I’m Trevor Hall.
It's Thursday September 25th.
Gold and silver finally took a breather yesterday, as each metal pulled back from their incredible run over the few trading days. Gold lost 1.25% while silver lost about 1%. But this morning, we are back moving higher. Gold is currently trading in the green at $3,783 an ounce on the front month while silver is up 2% at the time of recording at $45.11 an ounce. That's a run of more than 2%. Big news out of the mining world yesterday put a bid on copper and copper equities. Freeport declared force majeure at its Grasberg mine in Indonesia after a massive mud flow which destroyed critical infrastructure. Rescue efforts for seven bodies stuck in the disaster are ongoing. Freeport warned it might not be able to meet supply contracts because of the emergency. The company said in its latest news release on the incident that a return to pre-incident operating rates could potentially be achieved in 2027.
We’ll get to the news from the miners and explorers here in a moment, but first a quick word about today’s sponsor.
This episode of Mining Stock Daily is brought to you by…Revival Gold.
Revival Gold is one of the largest pure gold mine developer operating in the United States. The Company is advancing the Mercur Gold Project in Utah and mine permitting preparations and ongoing exploration at the Beartrack-Arnett Gold Project located in Idaho. Revival Gold is listed on the TSX Venture Exchange under the ticker symbol “RVG” and trades on the OTCQX Market under the ticker symbol “RVLGF”. Learn more about the company at revival-dash-gold.com
And here’s what you need to know this morning…..
Scottie Resources reported new assays from its 2025 drilling of the Blueberry Contact Zone within the Scottie Gold Mine Project. Drilling in 2025 continues to deliver strong results, including intercepts of 7.43 g/t gold over 18.75 metres and 37 g/t gold over 2.85 metres. The fully funded 25,000-metre drill program is ongoing, with less than 15% of assays reported to date and additional results expected through the remainder of the year. In parallel, bulk sample activities are advancing on schedule, with mucking from the final blast completed, waste backfilling underway, and mineralized material being crushed for transport. Processing of the bulk sample at a third-party facility is planned for mid-October. (TSXV: SCOT) (OTCQB: SCTSF) News Release
American Eagle Gold reported new drill results out of the NAK copper-gold project in British Columbia. Hole 47 was drilled in the northern area of the project and returned 73m of .89% CuEq within 277m of .4% CuEq from surface. The hole confirms the copper-gold mineralization extends directly to surface and aligns with the broader porphyry system, emphasizing the project’s scale and continuity. The company also noted hole 59, which is testing a new area within the porphyry stock. The company says the have encountered visually strong mineralization from surface. Assays remain pending. (TSXV: AE) News Release
Canada Nickel published new drill results from its Midlothian Property located 70 kilometres south-southeast of Timmins and 25 kilometres west of Matachewan. Hole MID25-17A intersected nickel mineralization immediately below overburden at 5.3 m with 0.30% nickel over 18.7 m and 0.30% nickel over 330.0 metres. Hole MID25-18A intersected 0.29% nickel over 449.0 metres including 0.36% nickel over 10.5 metres. The holes have extended the outline of nickel mineralization by 200-3– meters to the south. An initial mineral resource estimate for the project is expected by year end. (TSXV: CNC) (OTCQX: CNIKF) News Release
NGEx Minerals announced their Phase 4 exploration plan for the upcoming drill program at its Lunahuasi copper-gold-silver project in San Juan, Argentina. The successful Phase 3 drill program at Lunahuasi, completed in the first half of 2025, continued to deliver some of the highest-grade copper, gold, and silver intercepts drilled anywhere. The Lunahuasi Phase 4 program will use 8 drill rigs and is expected to total up to 25,000 meters of diamond drilling to follow up on the 43,249m drilled since discovery of the deposit in 2023. The planned program will consist of three targeted ranges of drill spacing to accomplish different objectives, including short-range resource definition, stepping out and extending mineralization, and testing anomalies and district scale targets in new areas of Lunahuasi. The Phase 4 program is scheduled to start in early October. (TSX: NGEX) (OTCQX: NGXXF) News Release
Gunnison Copper announced its first sale of pure copper cathode from its fully operational Johnson Camp Mine in Arizona. Gunnison sold a total of 225,371 pounds of finished copper cathode at an average realized copper price of US$4.64 per pound, generating gross proceeds of approximately US$1,046,194. First copper production using Nuton's bio-leaching technology is expected later this year. Nuton , a venture of Rio Tinto, will be deploying this innovative technology at scale for the first time at Johnson Camp. JCM has a nameplate capacity of 25 million pounds of finished copper cathode annually. (TSX: GCU) (OTCQB: GCUMF) News Release
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That’s it for today everyone. Have a great day. Stay safe.
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