Uranium, Tech Stocks Decline Amid DeepSeek's Rise

The success in app stores of China-based AI company DeepSeek led to a decline in major tech stocks. Its impact was also felt in uranium spot prices, which dropped amid concerns over the energy consumption associated with AI. In other news, Zacatecas emerged as Mexico's top producer of gold, silver, lead, and zinc in November 2024. The state's double-digit growth in all four minerals contributed to a modest 1.8% increase in Mexico's overall mineral production.

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DeepSeek’s Rise Hits Tech Stocks, Uranium Prices

DeepSeek surpassed ChatGPT in downloads, sparking a sharp selloff in major tech stocks. This downturn has also driven a decline in uranium spot prices, highlighting concerns over AI-driven energy demand.

Discovery Silver Acquires Porcupine Complex for US$425 Million

Discovery Silver has announced its agreement to acquire 100% of Newmont Corporation’s Porcupine Complex in Timmins, Canada, for US$425 million. This acquisition establishes Discovery as a new player in the Canadian gold sector, with the complex expected to generate over 285,000oz of gold annually over the next decade, alongside significant potential for further expansion.

Suppliers in Canada, Mexico Halt US Orders Amid Trump Tariffs

Steel producers in Canada and Mexico have begun halting new orders to the United States, reflecting growing concerns over the possibility that President Donald Trump may reimpose tariffs on steel imports. While both nations were exempt from the broad steel tariffs enacted during Trump’s first administration, the industry now faces heightened uncertainty.

Mexico’s Economy at Risk as US Tariffs Impact Steel, Cement

Industries such as steel, cement, and wood are anticipated to face substantial challenges due to Trump’s proposed 25% tariff, resulting in direct consequences for local employment and the economies of both the United States and Mexico.

Efficiency Goes Beyond CAPEX: TAKRAF Group
Diego Torroella, Director, TAKRAF Mexico, says that when opting for tech-dense heavy equipment, mining companies should consider not only CAPEX but also OPEX throughout the lifespan of the mine. He emphasizes the importance of a long-term approach, where the total investment includes the initial costs and the ongoing expenses tied to the operation, making efficiency a key factor in decision-making.

Zacatecas Tops Mexico's Mineral Production in November 2024

Zacatecas emerged as the largest producer of gold, silver, lead, and zinc in November 2024, according to INEGI. The state saw double-digit growth in all four minerals, contributing to a 1.8% increase in national mineral production.

Plan Mexico: Why Mining Is a Natural Ally
Ruben Cano, Founding Partner, CR Legal Partners Mexico, says that the mining industry has a key role to play in the success of President Claudia Sheinbaum’s “Plan Mexico.” While not explicitly mentioned as a strategic sector, the industry’s long-term commitment to Mexico makes it a natural ally in achieving the plan’s goals. He says that by fostering legal frameworks supporting responsible mining, the government can ensure the sector’s growth and contribute to addressing critical challenges such as poverty reduction, employment, and environmental sustainability.

Panuco Project Drives BMO’s Outperform Rating for Vizsla Silver

Canada-based junior mining company Vizsla Silver received an Outperform rating from BMO Capital Markets. The financial institution considers the company’s Panuco project in Sinaloa interesting due to its anticipated production sale and cost efficiency.