1. Softbank to invest US$2 billion in Intel

Intel’s (NASDAQ:INTC) share price got a boost this week after a series of major announcements, beginning with SoftBank Group’s (TSE:9984) Monday (August 18) announcement that it plans invest US$2 billion in the company.

“Semiconductors are the foundation of every industry. For more than 50 years, Intel has been a trusted leader in innovation,’ said Masayoshi Son, chairman and CEO of SoftBank, in a press release.

‘This strategic investment reflects our belief that advanced semiconductor manufacturing and supply will further expand in the United States, with Intel playing a critical role,” he added.

Following that news, sources confirmed last week’s reports that the US government was seeking an equity stake in Intel in exchange for Biden-era Chips Act funding. Then, on Friday (August 22), US Secretary of Commerce Howard Lutnick announced that Intel had agreed to sell an 8.9 percent stake to the federal government, a move that will convert billions of dollars in previously awarded grants into a passive ownership stake.

Intel performance, July 28 to August 18, 2025.

Chart via Google Finance.

These developments have sent Intel’s market value soaring, with its share price increasing over 28 percent from the start of the month. Shares of Intel closed up on Friday at US$24.80.

2. Figure files for Nasdaq IPO

Figure Technology filed for an initial public offering (IPO) on the Nasdaq on Monday under the ticker symbol FIGR, joining a growing list of crypto-related companies looking to access public markets following the successful debut of stablecoin issuer Circle Internet Group (NYSE:CRCL).

Figure leverages blockchain to streamline financial services. The company’s filing reveals a strong financial performance, with profit reaching US$29 million in the first half of 2025, compared to a US$13 million loss in the same period last year. Its revenue for the first half of the year was US$191 million.

Goldman Sachs (NYSE:GS), Jefferies Financial Group (NYSE:JEF) and Bank of America Securities are acting as lead underwriters for the offering. The number of shares and price ranges are yet to be confirmed.

3. Google unveils new Pixel and more

Google (NASDAQ:GOOGL) made headlines this week with several new developments spanning its business lines.

The week kicked off with the tech giant announcing it has increased its stake in data center operator and Bitcoin miner TeraWulf (NASDAQ:WULF) to roughly 14 percent, worth US$3.2 billion.

The company also revealed a partnership with advanced nuclear startup Kairos Power and the Tennessee Valley Authority to power its data centers in Tennessee and Alabama using a new nuclear reactor.

On Wednesday (August 20), Google unveiled its latest Pixel smartphone, the Pixel 10, and accessories, with upgrades including a health coach powered by artificial intelligence (AI).

The week culminated with reports of a US$10 billion cloud computing agreement with Meta Platforms (NASDAQ:META) to provide the necessary servers and infrastructure for Meta’s expanding AI operations. The news sent Google’s share price up by over 3 percent and Meta’s up by over 2 percent.

4. NVIDIA tumbles amid China tension and chip sales

NVIDIA (NASDAQ:NVDA) experienced a volatile week, with its share price slipping in early trading on Monday following reports of renewed tensions with China. The downturn was triggered by news that Beijing will move to restrict sales of the H20 AI chip, the company’s most advanced product approved for the Chinese market.

China’s internet and telecom regulator, as well as the state planning agency, issued informal guidance to major tech companies, instructing them to halt new orders of the H20 chips, citing security concerns.

According to unnamed officials who spoke to the Financial Times, the decision was also influenced by “insulting” remarks from US Secretary of Commerce Howard Lutnick.

In response to the Chinese directive, NVIDIA has reportedly instructed its component suppliers, including Foxconn Technology (TPE:2354), Samsung Electronics (KRX:005930) and Amkor Technolgy (NASDAQ:AMKR), to suspend production of the H20 chip; the company also said it is working on a new AI chip for China.

Alphabet, NVIDIA, Palo Alto Networks and Meta Platforms performance, August 19 to 22, 2025.

Chart via Google Finance.

NVIDIA saw the greatest losses midweek, falling over 4 percent between Tuesday and Thursday. The company recovered some of its losses during Friday’s rally, but finished the week over one percent lower.

5. Palo Alto Networks rises on strong forecast

Palo Alto Networks (NASDAQ:PANW) surged over 7 percent on Tuesday after the cybersecurity company forecast that revenue and profit for its 2026 financial year will come in above estimates.

The company gave a strong performance in its 2025 fiscal year, with total revenue increasing 15 percent year-on-year to US$9.2 billion, fueled by an increase in revenue from newer, cloud-based security products. This growth occurred alongside a 24 percent rise in its future contracted business to US$15.8 billion.

The company also surpassed a US$10 billion revenue run rate while maintaining its “Rule-of-50” status — a measure of the balance between growth and profitability — for the fifth consecutive year.

Markets and commodities react

Canadian equity markets were positive this week. The S&P/TSX Composite Index (INDEXTSI:OSPTX) was in record territory, closing the week up 1.44 percent to set at another all-time high of 28,333.13. The S&P/TSX Venture Composite Index (INDEXTSI:JX) did even better, climbing 2.45 percent to finish Friday at 803.61. The CSE Composite Index (CSE:CSECOMP) slumped mid-week but recovered on Friday to post a slight gain of 0.48 percent to 158.82.

US equity markets were mixed this week, but strong gains on Friday following Powell’s comments kept them in record high territory. The S&P 500 (INDEXSP:INX) was up 1.52 percent on Friday, but down by 0.16 percent over the past five days to 6,466.92, while the Nasdaq 100 (INDEXNASDAQ:NDX) rose 1.51 percent on Friday, but sank 1.33 percent on the week to 23,497.83 on Wednesday. Meanwhile, the Dow Jones Industrial Average (INDEXDJX:.DJI) was the sole weekly gainer, rising 1.89 percent on Friday and 1.04 percent on the week to post a new record high of 45,631.73.

The gold price was largely flat this week, but also surged on Friday after Powell hinted at a near-term rate cut, rising 1.11 percent on the week to US$3,373.21 per ounce by 4:00 p.m. EDT on Friday.

Silver saw similar movements, but ended the week with a more significant gain of 2.62 percent US$38.90 per ounce.

Copper saw little change again this week, posting a 0.22 percent decrease to US$4.52 per pound. The S&P GSCI (INDEXSP:SPGSCI) commodities index posted an increase of 1.92 percent by close on Friday, finishing at 545.11.

Top Canadian mining stocks this week

How did mining stocks perform against this backdrop?

Take a look at this week’s five best-performing Canadian mining stocks below.

Stock data for this article was retrieved at 4:00 p.m. EDT on Friday using TradingView’s stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.

1. StrategX Elements (CSE:STGX)

Weekly gain: 63.64 percent
Market cap: C$11.57 million
Share price: C$0.18

StrategX Elements is advancing a portfolio of projects in the Northwest Territories and Nunavut, Canada.

Its most recent focus has been its Nagvaak project in Nunavut, which hosts a 6 kilometer mineralized zone with deposits of nickel, vanadium, cobalt, copper, silver and platinum-group metals.

On March 3, the company discovered a wide zone of high-grade graphite mineralization at Nagvaak, with one assay returning an average of 15 percent graphitic carbon over 32 meters, including an intersection of 22 percent graphitic carbon over 17 meters. StrategX said the hole also returned encouraging concentrations of other minerals, including nickel, copper and silver, supporting potential for a multi-mineral system.

The most recent news from the project came on July 30, when the company announced it was in the process of mobilizing for a 2025 drill program intended to delineate and validate the discoveries.

On Tuesday, the company completed a non-brokered private placement for 3.71 million shares, raising gross proceeds of C$296,960. It announced the placement on August 7 and said funds would be used for general working capital.

2. Max Resource (TSXV:MAX)

Weekly gain: 62.5 percent
Market cap: C$12.59 million
Share price: C$0.065

Max Resource is an explorer working to advance a portfolio of projects in Colombia.

Its Sierra Azul property is a district-scale copper and silver project consisting of 20 mining concessions covering an area of 188 square kilometers in northeastern Colombia.

The asset is covered by a May 2024 earn-in agreement with Freeport-McMoRan (NYSE:FCX), in which Freeport can receive up to an 80 percent stake by funding of C$50 million over 10 years. The site hosts multiple target areas with high-grade copper and silver mineralization, including a 20 kilometer red-bed style copper system at the AM district.

Max also owns the Florália hematite direct-shipping ore iron project located in the Minas Gerais region. The company completed the acquisition of the property in October 2024 from Jaguar Mining (TSX:JAG,OTCQX:JAGGF) for total cash considerations of US$1 million and 4 million performance share units, contingent upon reaching certain milestones. The site hosts hematite deposits with grades over 60 percent iron. Max intends to use a direct-shipping ore process to mine, crush and screen the ore before exporting the material directly to steel mills.

The company’s most recent announcement came this past Tuesday, when it secured the right to acquire Mora title, which lies adjacent to Aris Mining’s (TSX:ARIS,NYSEAMERICAN:ARMN) Marmato mine. The property hosts 40 historic workings with five active mines, with reserves with grades of 3.2 grams per metric ton (g/t) gold from 31.3 million metric tons and a resource of 9 million ounces of gold grading 3 g/t from 61.5 million metric tons.

3. Maple Gold Mines (TSXV:MGM)

Weekly gain: 50 percent
Market cap: C$45.6 million
Share price: C$0.105

Maple Gold Mines is a gold exploration company focused on the advancement of its Douay and Joutel projects located in the Abitibi greenstone belt in Québec, Canada.

The Douay project covers an area of 357 square kilometers. In a 2022 technical report, the company said the site hosts an indicated resource of 511,000 ounces of gold from 10 million metric tons with an average grade of 1.59 g/t gold, with an additional inferred resource of 2.53 million ounces from 76.7 million metric tons at 1.02 g/t.

Joutel is located directly south of Douay. The company announced on May 5 that it had staked an additional 128 mining claims, bringing the total land area at the property to 111 square kilometers from the original 39. The site hosts Agnico Eagle Mines’ (TSX:AEM,NYSE:AEM) past-producing Eagle-Telbel gold mine, which operated from 1974 to 1993. To date, the company has used 250,000 meters of historic drill results to create 3D models to aid in current exploration efforts.

The most recent news from Maple came on Wednesday when it announced a C$5 million non-brokered private placement led by strategic investor Michael Gentile. Additionally, the company reported that Agnico Eagle has indicated it intends to participate in the offering to maintain its pro rata ownership interest in Maple Gold.

The release also said that it has appointed Marc Legault and Chris Adams to the board of directors.

4. Capitan Silver (TSXV:CAPT)

Weekly gain: 40.45 percent
Market cap: C$113.2 million
Share price: C$1.25

Capitan Silver is an explorer focused on advancing silver and gold projects in Durango, Mexico.

The company’s flagship asset is the 100 percent owned Cruz de Plata project, in the heart of Mexico’s historic Penoles Mining District. The district is known for hosting significant silver mineralization and historic mining.

The Cruz de Plata project encompasses two historic silver mines — Jesus Maria and San Rafael — and the El Capitan oxide gold prospect, all within a 22.9 square kilometer land package.

To date, the company has completed 86 diamond drill holes totaling over 11,550 meters.

A 2020 technical report demonstratesd an inferred resource of 16.99 million ounces of contained silver and 331,000 ounces of contained gold from 28.3 million metric tons of ore with grades of 18.7 g/t silver and 0.36 g/t gold.

The most recent news from Capitan came on Friday, when it announced it executed a definitive agreement to acquire a strategic land package at its Cruz de Plata property from Fresnillo (LSE:FRES,OTC Pink:FNLPF) for total cash considerations of US$4 million. The transaction was initially announced in June.

The new parcel consists of seven mineral concessions covering an area of 2,171.4 hectares and increases its total holdings in the area by 85 percent and the surface expression of the silver and gold trend by 1.2 kilometers to the east.

5. District Metals (TSXV:DMX)

Weekly gain: 36.9 percent
Market cap: C$163.98 million
Share price: C$1.15

District Metals is a uranium exploration company focused on advancing a portfolio of assets in Sweden.

Its flagship Viken property covers an area of 38,657 hectares in Jämtland County and in addition to uranium hosts mineral deposits of vanadium, molybdenum, nickel, copper and zinc.

On June 13, District filed a technical report for the project’s updated mineral resource estimate. It shows an indicated resource of 176 million pounds of U3O8 from 456 million metric tons of ore with a grade of 175 parts per million (ppm) U3O8 and an inferred resource of 1.54 billion pounds of U3O8 from 4.3 billion metric tons with a grade of 161 ppm.

The company has also been advancing its Tomtebo-Stollberg zinc project in South-Central Sweden. The project is part of an October 2023 definitive agreement in which Boliden (STO:BOL) can earn an 85 percent interest in the property by spending C$10 million over four years and District can earn a 15 percent stake in Boliden’s Stollberg property.

Tomtebo covers an area of 5,144 hectares and hosts the historic Tomtebo and Lovas mines, while Stollberg covers an area of 5,180 hectares and is located near Boliden’s Garpengerg mine.

The most recent update from Tomtebo came on July 29, when District released assays from a five hole, 2,485 meter drill program conducted between February and April. One highlighted drill hole recorded multiple zones of silver and base metals mineralization, including 88 g/t silver, 3 percent zinc and 1.9 percent lead over 7.85 meters.

The company has not released any news since.

FAQs for Canadian mining stocks

How much does it cost to list on the TSXV?

There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.

The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.

These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.

How do you trade on the TSXV?

Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange’s trading hours.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,546, a 3.9 percent increase in 24 hours. Its lowest valuation of the day was US$112,019, and its highest was US$117,310.

Bitcoin price performance, August 22, 2025.

Chart via TradingView.

The crypto market rallied after US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Symposium offered clues that the Fed may be preparing to lower interest rates in September.

Bitcoin jumped from US$112,000 to US$116,000 in just over an hour. The current situation with inflation and the labor market, Powell said, “may warrant adjusting” the Fed’s monetary policy stance.

Powell cited a “curious balance” in the labor market, with reduced worker supply and demand increasing employment risks, while also noting that tariffs’ visible impact on consumer prices is likely to be short-lived.

However, he signaled that the central bank remains cautious of potential lasting inflation, emphasizing the need to balance its dual mandates when goals conflict.

The Fed also revised its monetary policy, stating that low unemployment alone will not trigger rate hikes. They removed language suggesting tolerance for inflation above 2 percent to offset past undershoots and no longer described low interest rates as a “defining feature” of the economy, offering greater flexibility in a volatile post-pandemic economy.

According to the CME Group Fedwatch tool, the probability of an interest rate cut at the September 17 FOMC meeting has surged to over 83 percent, up from 75 percent just yesterday.

Likewise, Ether (ETH) gained over 10 percent following Powell’s remarks, rising above the week-long US$4,600 resistance and forming a bull flag pattern, with analysts projecting potential highs around US$6,000.

ETH was priced at US$4,843.61, up by 14.5 percent over the past 24 hours, and its highest valuation of the day. Its lowest valuation was US$4,254.24.

Altcoin price update

• Solana (SOL) was priced at US$199.01, up by 10.5 percent over 24 hours to its highest valuation of the day. Its lowest was US$178.52.

• XRP was trading for US$3.09, up by 7.9 percent in the past 24 hours, and its highest valuation of the day. Its lowest was US$282.

• Sui (SUI) was trading at US$3.74, up by 9.5 percent over the past 24 hours, following market trends by reaching its highest valuation as the markets wrapped. Its lowest valuation of the day was US$3.33.

• Cardano (ADA) was also trading at its highest valuation on Friday at US$0.9334, up by 9.5 percent over 24 hours. Its lowest valuation for the day was US$0.8332.

Today’s crypto news to know

Coinbase approves Trump-backed stablecoin

Coinbase Global (NASDAQ:COIN) has listed USD1, a stablecoin issued by World Liberty Financial, the crypto project linked to US President Donald Trump and his sons. The exchange announced the move on Thursday (August 21), while Eric Trump reposted the news on X and hinted that additional updates on the project are coming soon.

With the addition, Coinbase now offers US users a wide range of stablecoins, including USDT, USDC, PYUSD, DAI and others. World Liberty launched USD1 earlier this year as part of its push into decentralized finance, positioning the token for use in a forthcoming platform built on Ethereum with Aave technology.

The platform is not yet live, but the company has said it will eventually support lending and borrowing services.

The listing comes as the US stablecoin sector gains momentum following the passage of the GENIUS Act, which set national standards for stablecoin issuance and trading.

Still, World Liberty’s political connections remain controversial, especially after reports linked USD1 to a multibillion-dollar investment in Binance from an Abu Dhabi sovereign fund.

House moves to prohibit Fed from issuing CBDC

The US House of Representatives has added a provision to a defense policy bill for the 2026 fiscal year that would ban the Fed from issuing a central bank digital currency (CBDC). On Thursday, the House Rules Committee released a revised version of HR 3838, the House’s rendition of a bill enacting the National Defense Authorization Act.

It incorporates extensive wording that prohibits the Fed from researching or developing digital currency.

In July, the House narrowly passed the Republican-backed Anti-CBDC Surveillance State Act, which aims to prevent the Fed from issuing a digital currency, with a vote of 219 to 210. Its fate in the Senate remains uncertain.

The National Defense Authorization Act and its associated appropriations bills are considered essential national security legislation. They detail the military’s funding and budget allocation. Adding this provision from the anti-CBDC bill is a strategic maneuver by supporters of the CBDC ban to increase the likelihood of it passing into law.

CFTC seeks public input on spot crypto trading regulations

Caroline D. Pham, acting chair of the Commodity Futures Trading Commission (CFTC), is calling for public input from crypto market participants on how the agency can better regulate spot crypto trading.

“The public feedback will assist the CFTC in carefully considering relevant issues for leveraged, margined or financed retail trading on a CFTC-registered exchange as we implement the President’s directive,” Pham said on Thursday.

Comments may be submitted via the commission’s website until October 20.

This marks the second leg of the CFTC’s “crypto sprint,” an initiative to fast track the implementation of a new regulatory framework for cryptocurrencies and other digital assets in the US. Last month, the agency announced that it would explore enabling the trading of spot crypto asset contracts on CFTC-registered futures exchanges.

Ripple, SBI to bring RLUSD to Japan

Ripple and SBI Holdings (TSE:8473) unveiled plans on Thursday to bring Ripple USD (RLUSD) to Japan.

Their aim is to launch the stablecoin in early 2026. The rollout will be handled by SBI VCTrade, a licensed digital payments provider, under Japan’s new regulatory framework for stablecoins.

RLUSD, first introduced in December 2024, is backed by dollar deposits, short-term US treasuries and cash equivalents, with monthly attestations from an independent firm. Ripple says this design ensures regulatory clarity and sets the coin apart as an institutional-grade product. SBI executives described the partnership as a milestone for Japan’s financial system, stressing that the stablecoin will enhance trust and convenience for users.

Ripple officials framed RLUSD as a bridge between traditional finance and decentralized networks, particularly just days after Japan approved its first yen-based stablecoin.

ECB explores public blockchains for digital euro

The European Central Bank (ECB) is reportedly exploring major public blockchain networks, including Ethereum and Solana, in connection with its digital euro design.

Sources familiar with the matter told the Financial Times that EU officials are accelerating plans for a digital euro after the passage of the GENIUS Act deepened concerns regarding the competitive viability of a European digital currency.

Sources familiar with the matter told the news outlet that while a private blockchain was widely expected for the digital euro, a public option is now being considered more seriously.

Meanwhile, the ECB informed the Financial Times that it is exploring both centralized and decentralized technologies, including distributed ledger technologies, in the lead up to a final decision.

Austrac directs Binance to appoint external auditor

Binance is facing renewed scrutiny in Australia after the country’s financial watchdog directed it to appoint an external auditor. AUSTRAC said the exchange has failed to meet standards for anti-money laundering and counter-terrorism financing controls, citing gaps in oversight and risk management. The agency also pointed to Binance’s high staff turnover and limited senior management presence in Australia as red flags.

AUSTRAC Chief Brendan Thomas warned that global crypto exchanges must adapt to local compliance requirements, regardless of their size. The action adds to a growing list of regulatory challenges for Binance worldwide, including a record US$4.3 billion fine in the US last year for failing to block illicit users.

The company’s founder, Changpeng Zhao, is serving a four month prison sentence related to those violations. Meanwhile, in Nigeria, Binance is still battling tax evasion and illegal foreign exchange allegations, with a court trial pushed back to October.

Top 5 copper reserves by country

The countries with the largest copper reserves are Chile, Australia, Peru, the Democratic Republic of Congo (DRC) and Russia. These five countries hold more than 55 percent of the world’s total copper reserves and will be critical to a world with soaring demand for copper.

Read on to learn about these copper kingpins.

1. Chile

Copper reserves: 190 million metric tons

Chile holds the largest copper reserves globally at 190 million metric tons, nearly as much as Australia and Peru hold combined. Additionally, Chile is also the world’s top copper producer, with its 5.3 million metric tons of copper in 2024 representing nearly a quarter of global output.

The mining industry is essential to the Chilean economy, making up more than 50 percent of the country’s exports and contributing US$40 billion of its GDP in 2023. Copper alone accounting for more than US$29 billion of that total.

Due to the sheer quantity of copper in the country, it should come as no surprise that Chile is home to the world’s largest copper mine, Escondida. According to MDO, Escondida produced 927,000 metric tons of copper in concentrate in 2024 and sits atop proven and probable copper reserves of 37.62 million metric tons. The mine is a 57.5/30/12.5 joint venture between BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Japan’s JECO.

2. Australia

Copper reserves: 100 million metric tons

Australian copper reserves are pegged at 100 million metric tons, tying it for the second largest country by copper reserves. The resource industry is an essential sector in Australia, contributing AU$385 billion during the 2024/2025 fiscal year. Of that, copper was the sixth largest contributor with AU$13.2 billion, a AU$1.8 billion increase over 2023/2024.

While Australia hosts significant copper reserves, it lags the other countries on the list with similarly sized reserves in terms of production at 800,000 metric tons in 2024. More than a quarter of that came from BHP’s Olympic Dam mine in South Australia, which produced 216,000 metric tons of copper cathode. The polymetallic mine contains substantial proven and probable copper reserves totaling 10.68 million metric tons.

Another significant operation in Australia is Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Cadia Valley mine, which hosts probable reserves of 3.1 million metric tons of contained copper. Cadia Valley produced 87,000 metric tons of copper in concentrate in 2024.

2. Peru

Copper reserves: 100 million metric tons

Copper reserves in Peru stand at 100 million metric tons, tying it with Australia for the second largest copper country. Much like its neighbor Chile, copper is an essential part of Peru’s economy, accounting for 49 percent of the value of its US$47.7 billion in mining exports.

Peru is home to some of the world’s biggest mining operations, and produced 2.6 million metric tons of copper last year. Two mines accounted for a third of the country’s total output.

The top producer in the country is the Cerro Verde Complex, a 55/21/19.6 venture with Freeport-McMoRan (NYSE:FCX), Sumitomo Metal Mining (TSE:5713) and Minas Buenaventura (NYSE:BVN). Cerro Verde hosts hosts proven and probable reserves of 11.45 million metric tons of copper and produced 949 million pounds of copper metal in concentrate in 2024.

Not to be outdone, the second highest is Antamina, a 33.75/33.75/22.5/10 joint venture between BHP, Glencore (LSE:GLEN,OTC Pink:GLCNF), Teck Resources (TSX:TECK.B,TSX:TECK.A,NYSE:TECK) and Mitsubishi (TSE:8058). Last year, output at the mine fell just short of Cerro Verde’s at 941 million pounds of copper in concentrate. Antamina hosts a proven and probable reserve of 4.53 million metric tons of contained copper.

The mine with the largest copper reserves in Peru is Southern Copper’s (NYSE:SCCO) Toquepala mine, home to 13.79 million metric tons of copper in proven and probable reserves. The mine produced 496 million pounds of copper in concentrate last year.

4. Democratic Republic of Congo

Copper reserves: 80 million metric tons

Copper reserves in the Democratic Republic of Congo stood at 80 million metric tons in 2024, making it the fourth largest country by copper reserves. The DRC’s economic copper reserves have seen a staggering rise in recent years, climbing from an estimated 19 million metric tons in 2019.

The mining sector has been critical to GDP growth in the DRC, with copper being the largest contributor. World Bank reports that the extraction sector has outpaced other segments of the DRC’s economy, increasing 12.8 percent in 2024, while non-mining sectors grew by only 3.2 percent.

According to data from the United Nations, in 2023 the DRC exported US$17 billion in refined copper and unwrought alloys, a large jump from US$7.34 billion in 2019. The country’s copper ore exports contributed US$2.16 billion in 2023, nearly double the US$1.11 billion four years prior.

Among the contributing factors in the rise in mining and export activity has been the development of the Lobito Corridor, which connects mineral-rich regions in Zambia, the DRC and Angola to the port at Lobito in Angola.

This link allows greater access for large-scale operations like Ivanhoe Mines (TSX:IVN) and Zijin Mining’s (HKEX:2899,SHA:601899) Kamoa-Kakula complex in the Southern DRC. One of the largest copper operations in the world, Kamoa-Kakula hosts a probable reserve of 17.69 million metric tons of contained copper and produced 964 million pounds of copper in concentrate in 2024.

4. Russia

Copper reserves: 80 million metric tons

Russia’s copper reserves are estimated to be 80 million metric tons, tying it with the DRC. While commodities are important to the Russian economy, contributing US$417 billion in 2024, the metals sector represented 15 percent of that total at US$60 billion.

Russia has been under significant sanctions since it invaded Ukraine in February 2022. According to the UN Comtrade Database, Russia’s copper exports from in 2021 were valued at US$5.98 billion.

In 2024, Russia produced 930,000 metric tons of copper, an increase from the 890,000 metric tons produced in 2023. Among the main contributing factors was a ramp-up in production at Udokan Copper’s Udokan mine in Siberia, which was expected to produce 135,000 metric tons in 2024 and, according to the mine’s website, hosts a JORC-compliant copper resource of 26.7 million metric tons.

Top Canadian uranium mines

Canada is home to three producing uranium mines, Cigar Lake, McArthur River and McClean Lake, all of which are located in Saskatchewan’s Athabasca Basin.

Saskatchewan is a premier uranium mining jurisdiction as home to the Athabasca Basin, a mining-friendly region in the north of the province that’s renowned for its high-quality uranium deposits. The area’s long uranium-mining history has made Canada an international leader in the uranium sector.

Canada’s major uranium mining companies are Cameco (TSX:CCO,NYSE:CCJ) and Orano Canada, a subsidiary of the multinational company Orano Group. Cameco is the majority owner and operator of Cigar Lake and McArthur River. Orano holds a significant stake in both mines, and is also the majority owner and operator of the recently restarted McClean Lake operation.

Data and information on the Canadian uranium mines and advanced projects discussed below is taken from mining database MDO. The database only includes projects that have at least partial ownership by public companies.

1. Cigar Lake Mine

Ownership:
54.547% — Cameco
40.453% — Orano Canada
5% — TEPCO Resources
Province: Saskatchewan
Mine type: Underground
Deposit type: Unconformity-related

Cigar Lake, which entered commercial production in 2015, is one of Canada’s largest uranium mines and the world’s highest grade uranium mine. The underground mining operation involves the use of innovative mining methods such as jet boring, which was purposely designed by Cameco to tackle the unique challenges of the Cigar Lake deposit.

For 2024, production at the Cigar Lake mine was reported at 16.9 million pounds U3O8, up 2 million pounds from the previous year. Guidance for 2025 stands at approximately 18 million pounds.

Cigar Lake’s proven and probable reserves stand at 551,400 metric tons of ore grading 15.87 percent U3O8 for 192.9 million pounds of contained U3O8. Its mine life is expected to run until 2036.

2. McArthur River-Key Lake Mine

Ownership:
McArthur River mine
69.805% — Cameco
30.195% — Orano Canada
Key Lake mill
83.3% — Cameco
16.7% — Orano Canada
Province: Saskatchewan
Mine type: Underground
Deposit type: Unconformity-related

The McArthur River-Key Lake operation is home to the McArthur River mine and Key Lake mill, respectively the largest high-grade uranium mine and largest uranium mill in the world, according to MDO.

McArthur River was first brought into production in 2000 using raiseboring and blast hole stoping mining methods, but was put on care and maintenance temporarily in early 2018 due to low uranium prices. Cameco brought the mine and mill back into production in late 2022, progressively ramping up output over the next few years.

Production in 2024 came in at 20.3 million pounds U3O8, up nearly 43 percent from the previous year’s output, and production guidance for 2025 has been set at 18 million pounds.

McArthur River’s proven and probable reserves total 2.49 million metric tons grading 6.55 percent U3O8 for 359.6 million pounds of contained metal. Its mine life extends out to 2044.

3. McClean Lake Mine and Mill

Ownership:
77.5% — Orano Canada
22.5% — Denison Mines (TSX:DML)
Province: Saskatchewan
Mine type: Surface mine
Deposit type: Unconformity-related

The McClean Lake mine re-entered production in July 2025, 17 years after it was shuttered in 2008 due to low uranium prices made the operations uneconomic.

After studies demonstrated that the joint venture partners’ patented surface access borehole resource extraction (SABRE) mining method could bring McClean back to life economically, the decision was made in January 2024 to bring the asset back into production.

The site hosts multiple deposits, including the now-producing McClean North deposit. It also boasts the only mill in the world designed to process high-grade uranium ore without dilution, according to MDO. The mill has the capacity to produce 24 million pounds of uranium concentrate, or yellowcake, annually. Currently, the mill is processing ore from the Cigar Lake mine under a toll mining agreement.

Proven reserves at McClean Lake are in the form of ore stockpiles, and total 90,000 metric tons at a grade of 0.37 percent for U3O8 for 700,000 pounds of contained metal. The site also hosts significant indicated and inferred resources of 25.4 million pounds across the McLean North, Sue D and Sue F deposits.

The partners expect to produce approximately 800,000 pounds of U3O8 from McClean North in the first year of operations. In addition, mining at the McClean North and Sue F deposits has the potential to produce about 3 million pounds from 2026 to 2030.

Upcoming Canadian uranium mines

There are a handful of contenders for Canada’s next uranium mine: Patterson Lake South, Rook 1 and Wheeler River. None are in the construction stage yet, but most are expecting to come online in the next few years. Learn about the advanced uranium projects below.

1. Patterson Lake South

Ownership: Paladin Energy (TSX:PDN,ASX:PDN)
Province: Saskatchewan
Mine type: Underground
Deposit type: Basement hosted vein-type or fracture-filled

Currently in the permitting phase, the Patterson Lake South (PLS) project hosts the large, high-grade and near-surface Triple R deposit, which has the potential to produce both uranium and gold. The project has a probable mineral reserve estimate of 93.7 million pounds of contained uranium from 3 million metric tons grading 1.41 percent U3O8.

The 2023 feasibility study for PLS highlights average production of approximately 9 million pounds U3O8 per year over a 10 year mine life.

Paladin added the PLS uranium project to its portfolio in December 2024 via its acquisition of Fission Uranium. The company is continuing to develop the PLS’s resource potential outside of the Triple R deposit, with a significant focus on the project’s Saloon East zone. Advancing through the environmental permitting process remains ongoing.

2. Rook 1

Ownership: NexGen Energy (TSX:NXE)
Province: Saskatchewan
Mine type: Underground
Deposit type: Basement-hosted, vein-type

NexGen Energy’s Rook 1 project, home to the Arrow deposit, is in the permitting stage with a feasibility study completed in February 2021. Arrow hosts probable mineral reserves of 239.6 million pounds of U3O8 from 4.57 million metric tons of ore at a grade of 2.37 percent, as well as a measured and indicated resource of 256.7 million pounds from 3.75 million metric tons at 3.1 percent.

Over its 11.7 year mine life, Rook 1 is expected to produce an average of 19.8 million pounds of U3O8 per year, including over 25 million pounds during the first five years.

Provincial environmental assessment approval was granted in November 2023, and the federal environmental impact statement was accepted as final in January 2025. In March 2025, the company shared that the Canadian Nuclear Safety Commission has proposed hearing dates for the Rook I project on November 19, 2025, and February 9 to 13, 2026.

NexGen states that a full project execution team is at the ready and the site is fully prepared for construction activities to commence following final federal approval.

3. Wheeler River

Ownership:
95% — Denison Mines
5% — Uranium Energy (TSX:UEC,NYSEAMERICAN:UEC)
Province: Saskatchewan
Mine type:
Phoenix — In-situ recovery

Gryphon — Underground
Deposit type: Unconformity-related

The Wheeler River uranium project, billed as the largest undeveloped uranium project in the eastern region of the Athabasca Basin, is home to the high-grade Phoenix and Gryphon deposits. Each deposit is considered a standalone asset, and the Phoenix deposit is the more advanced of the two.

A feasibility study for the Phoenix deposit as an in-situ recovery operation was completed in mid-2023. In February 2025, Denison reported that the Canadian Nuclear Safety Commission is set to conduct hearings for the project’s environmental assessment and license to prepare and construct a uranium mine and mill on October 8 and December 8 to 12, 2025. If granted approval, Denison is prepared to start construction in early 2026, followed by first production by the first half of 2028.

As for the Gryphon deposit, an update to the pre-feasibility study for a conventional underground mining operation was completed in 2023. Denison conducted a field program in the first quarter of 2025 as part of its efforts to support a feasibility study.

Canadian uranium exploration companies

Canada is also home to a slew of uranium exploration and development companies focused on discovering uranium in Saskatchewan, Nunavut and Newfoundland and Labrador.

For more insight on the uranium companies operating in the Athabasca Basin discussed in this article, check out our breakdown of the 15 uranium companies exploring the basin.

Pan American delivers record net earnings

Pan American Silver (TSX:PAAS,NYSE:PAAS) posted record net earnings of US$189.6 million, or US$0.52 per share, for the second quarter, supported by record mine operating earnings of US$273.3 million. Revenue came in at US$811.9 million, while silver output reached 5.1 million ounces and gold production was 178,700 ounces.

The firm’s acquisition of MAG Silver (TSX:MAG,NYSEAMERICAN:MAG), which was approved by shareholders in July, is expected to close in the second half of the year. Pan American said MAG’s Juanicipio asset should lift its silver production by roughly 35 percent on an annualized basis and meaningfully lower all-in sustaining costs.

The company also confirmed that it remains engaged in consultations with the local Xinka parliament at the Escobal mine in Guatemala under ILO Convention 169 amid pushback regarding the project’s planned restart.

First Majestic reports record revenue

First Majestic Silver (TSX:AG,NYSE:AG) recorded its strongest quarter to date, with silver equivalent production rising 48 percent year-on-year to 7.9 million ounces, including 3.7 million ounces of silver.

The company also posted record quarterly revenue of US$264.2 million, nearly double the US$136.2 million recorded a year earlier. Average realized silver prices rose to US$34.62 per silver equivalent ounce, while payable sales volumes climbed 42 percent. First Majestic ended the quarter with 424,272 ounces of silver in inventory, valued at US$15.3 million (but not recognized in quarterly revenue). The board also declared a dividend of US$0.0048 per share.

Production gains were driven by stronger performance at the San Dimas mine in Mexico, where output rose 9 percent, and contributions from the Los Gatos joint venture, also in Mexico, which added 1.5 million attributable ounces of silver.

Endeavour Silver expands via Kolpa acquisition

Endeavour Silver (TSX:EDR,NYSE:EXK) reported Q2 silver production of 1.48 million ounces and gold output of 7,755 ounces, for total silver equivalent production of 2.5 million ounces, up 13 percent year-on-year.

The silver-focused company’s overall revenue rose 46 percent to US$85.3 million for the period, supported by higher realized prices of US$32.95 per ounce of silver and US$3,320 per ounce of gold.

Furthermore, the company completed its acquisition of Minera Kolpa on May 1, funded in part by a US$50 million equity financing. Endeavour also said that it has advanced commissioning at its Mexico-based Terronera project, which is nearing commercial production. Milling rates reached up to 2,000 metric tons per day by late July, with silver recoveries averaging 71 percent and gold recoveries at 67 percent.

Hecla Mining hits records across the board

Hecla Mining (NYSE:HL) reported record quarterly revenue of US$304 million, a 16 percent increase from the prior quarter. Net income came in at US$57.6 million, or US$0.09 per share, while adjusted EBITDA reached US$132.5 million. The company said free cashflow also reached record levels.

The US- and Canada-focused firm’s silver costs remained low, with cash cost per ounce after by-product credits at negative US$5.46 and all-in sustaining costs at US$5.19.

On the production side, milestones were set at key operations: the Lucky Friday mine (Idaho) established a new milling record of 114,475 metric tons, while Greens Creek (Alaska) delivered positive gold output owing to higher grades.

Silvercorp Metals maintains consistency

Silvercorp Metals (TSX:SVM,NYSEAMERICAN:SVM) produced 1.8 million ounces of silver in its fiscal first quarter of 2026, along with 2,050 ounces of gold, 15.7 million pounds of lead and 5.2 million pounds of zinc.

Output came from its Ying Mining District in China’s Henan Province. The firm also posted revenue of US$81.3 million, with income from mine operations standing at US$35.8 million. Silvercorp said that the margins are slightly lower compared to the prior year as higher processing volumes increased costs and royalties in China.

The company said even though higher royalties and processing expenses have offset some benefits of stronger realized prices, it remains profitable and cashflow positive.

Fresnillo reports lower silver output

Fresnillo (LSE:FRES,OTC Pink:FNLPF), one of Mexico’s largest gold and silver producers, reported revenues of US$1.94 billion for the first half of 2025, up 30 percent from the same period in 2024.

The company reported that attributable silver production was 24.9 million ounces in the first half, down 11.7 percent from the year prior due to the closure of San Julián DOB and lower grades at Ciénega and Juanicipio. By contrast, attributable gold production rose 15.9 percent to 313,800 ounces, supported by higher ore grades at Herradura.

Fresnillo also confirmed that parent company Industrias Peñoles agreed to buy back the longstanding Silverstream contract for US$40 million. Since 2007, Peñoles has paid Fresnillo US$882 million for approximately 52 million ounces of silver delivered from the Sabinas mine under the arrangement.

MAG Silver navigates takeover, advances exploration

MAG Silver entered Q2 under the spotlight as its pending acquisition by Pan American Silver moved forward.

The transaction, approved by MAG shareholders in July, offers shareholders the option of receiving either cash or Pan American shares, with closing expected in the second half of 2025, subject to regulatory approvals in Mexico.

Operationally, exploration remained active across the company’s portfolio.

At Juanicipio in Mexico, MAG drilled nearly 9,500 meters underground, with results pending, while surface work added over 6,000 meters targeting the Cañada Honda and Magdalena structures.

In the US, geophysical surveys advanced at the Deer Trail project in Utah, and drilling commenced at Ontario’s Larder project, where over 5,200 meters were completed at the Italian zone.

Avino delivers revenue growth, index inclusion

Avino Silver & Gold Mines (TSX:ASM,NYSEAMERICAN:ASM) posted strong second quarter financials, with revenues rising 47 percent year-on-year to US$21.8 million.

Net income more than doubled to US$2.9 million, while mine operating income surged 118 percent to US$10.2 million, supported by economies of scale and record mill throughput.

Production from the company’s portfolio of Mexican projects reached 645,602 silver equivalent ounces, a 5 percent increase despite lower feed grades, as throughput gains offset grade variability.

Beyond operations, Avino secured inclusions in both the S&P/TSX Global Mining Index (INDEXTSI:TXGM) and the Solactive Global Silver Miners Index during the quarter.

Coeur achieves record quarter on silver and gold strength

Coeur Mining (NYSE:CDE) reported record Q2 results with revenues of US$481 million and net income from continuing operations of US$71 million, marking its fifth consecutive profitable quarter. Adjusted EBITDA rose 64 percent from the prior quarter to US$244 million, while free cashflow soared eightfold to US$146 million.

The company produced 4.7 million ounces of silver and 108,487 ounces of gold, up 79 and 38 percent year-on-year, respectively, with strong contributions from all five operations. Meanwhile, crushed ore rates and production volumes climbed sharply from the company’s expanded Rochester mine in Nevada. Coeur reaffirmed its full-year guidance of 380,000 to 440,000 ounces of gold and 16.7 million to 20.3 million ounces of silver.

Silver price outlook

Silver’s breakout above US$35 has injected new momentum into the precious metals complex, and has put silver back into focus after more than a decade of underperformance relative to gold.

Traders are already eyeing the psychologically important US$40 level and ultimately the 2011 peak near US$50, with market strategists noting that previous moves through the mid-US$30s have often triggered rapid runs higher.

The renewed excitement comes as the gold price sits at a historically high level, providing a strong comparative benchmark that has many investors looking to silver as a value trade.

Behind the price action, silver’s fundamentals remain compelling. Industrial demand tied to green energy applications, paired with persistent multi-year supply deficits, continues to erode aboveground stocks.

Whether or not silver makes a sustained run in the near term, the alignment of macroeconomic factors and strong tailwinds proves that silver’s resurgence in 2025 is being built on more than just speculation.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$116,339, a 1.1 percent decline in 24 hours. Its lowest valuation of the day was US$114,985, while its highest was US$116,751.

Bitcoin price performance, August 18, 2025.

Chart via TradingView.

Markets pulled back considerably on Sunday (August 17) night ahead of a pivotal meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy and other European leaders.

Later this week, US Federal Reserve Chair Jerome Powell will deliver a speech after the Jackson Hole Economic Policy Symposium. His remarks are highly anticipated by investors who are looking for clarity on the Fed’s next move.

Ethereum (ETH) was priced at US$4,359.32, down by 2.3 percent over the past 24 hours. Its lowest valuation of the day was $4,282.60, and its highest valuation was US$4,381.21.

Altcoin price update

• Solana (SOL) was priced at US$183.41, down by 4.4 percent over 24 hours. Its lowest valuation of the day was US$181.21, while its highest level was US$184.80.

• XRP was trading for US$3.08, down 0.6 percent in the past 24 hours, and its highest valuation of the day. Its lowest was US$2.98.

• Sui (SUI) was trading at US$3.62, down by 4.6 percent over the past 24 hours. Its lowest valuation of the day was US$3.55, while its highest was US$3.64.

• Cardano (ADA) was trading at US$0.92, down 3.7 percent over 24 hours. Its lowest valuation of the day was US$0.9026, while its highest was US$0.9283.

Today’s crypto news to know

South Korea to introduce stablecoin regulations

South Korea’s Financial Services Commission (FSC) is set to introduce a regulatory framework for a won-backed stablecoin in October, according to a report from South Korean news outlet MoneyToday.

The initiative, part of the nation’s Virtual Asset User Protection Act, aims to establish clear rules for crypto service providers and is expected to outline requirements for stablecoin issuance, collateral management and internal control systems. The FSC has been developing this framework since 2023 through its virtual asset committee.

Democratic Party of Korea Representative Park Min-kyu confirmed that the government bill is expected to be submitted to the National Assembly around October. This regulatory move follows a June collaboration among major South Korean banks to develop a won-pegged stablecoin, intended to safeguard the currency against increasing dollar dominance. At the time, the token was projected to launch in late 2025 or early 2026.

Japan prepares to issue stablecoin in Q3

Japan is also set to approve its first stablecoin, with its Financial Services Agency preparing to greenlight the issuance of a Japanese yen-denominated digital currency as early as this fall.

According to a Sunday report from Japanese news outlet the Nihon Keizai Shimbun, Tokyo-based fintech firm JPYC will spearhead the initiative, aiming to maintain a fixed value of one JPY per Japanese yen, backed by liquid assets like bank deposits and Japanese government bonds.

Tokens will be issued to digital wallets via bank transfer after purchase applications from individuals or corporations. The company plans to register as a money transfer business within the month.

Gemini, Winklevoss twins file for Nasdaq listing

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has formally filed to go public with plans for a Nasdaq listing under the ticker GEMI. Founded in 2014, the company says it has processed US$285 billion in lifetime trading volume, with custodies of over US$18 billion in digital assets as of June 30.

Its registration statement does not specify how many shares will be offered or at what price range.

In the filing, the Winklevoss twins said crypto is entering “a new Golden Age,” emphasizing their vision of financial markets moving increasingly on-chain. They describe Gemini as a “super app” for digital assets, offering trading, custody and broader crypto financial services under one platform.

If successful, Gemini would join Coinbase Global (NASDAQ:COIN) as one of the few US exchanges to list publicly, offering investors direct equity exposure to crypto market infrastructure.

Amdax unveils Bitcoin treasury firm, plans Euronext Amsterdam listing

Amsterdam-based Amdax announced plans to list a new Bitcoin treasury firm, Amsterdam Bitcoin Treasury Strategy (AMBTS), on the Euronext Amsterdam exchange.

The company said the goal is to create a vehicle that holds Bitcoin long term on behalf of institutional and private investors, reflecting growing corporate adoption of digital reserves.

CEO Lucas Wensing noted that more than 10 percent of Bitcoin’s supply is already held by corporations, governments and institutions, suggesting a structural shift in how the asset is used.

Bitcoin’s rally of 32 percent in 2025, alongside pro-crypto regulatory momentum following Trump’s election, has reinforced the case for such vehicles. AMBTS plans to raise capital in a private round before listing, with a long-term target of accumulating at least 1 percent of total Bitcoin supply.

The move could make Euronext Amsterdam a more prominent hub for European digital asset investment products, challenging London and Frankfurt.