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To receive ag commodities update in your inbox, subscribe to the free newsletter Agricultural Commodities Focus.Serbia's corn production is forecast to remain robust in the 2024/25 marketing year, with exports anticipated to reach record-high levels, according to the latest repor

FXEmpire.com - homeMarket Overview Oil prices rebounded on Thursday after a series of losses, driven by expectations that the U.S. might replenish its strategic reserves due

The United States Federal Reserve announced on Wednesday (May 1) that it would hold its benchmark rate at 5.25 percent to 5.5 percent following its two-day Federal Open Market Committee (FOMC) meeting. In his press conference following the meeting, Federal Reserve Chairman Jerome Powell largely echoed statements from previous sessions, suggesting the committee would continue to hold rates until it had more confidence that the inflation rate was on a sustainable path to the 2 percent target set by the central bank.This was in line with analyst expectations prior to the meeting based on recent data from various government agencies. Higher-than-expected personal consumption expenditures index (PCE) data released by the US Bureau of Economic Analysis (BEA) on April 26 showed that inflation rates were remaining stubborn. The key indicator posted a 2.7 percent annualized growth in March, 0.2 percent higher than February’s 2.5 percent growth rate. A day earlier, the BEA released an advance estimate of Q1 2024 gross domestic product data, which reported that real GDP increased 1.6 percent on an annual basis in the first quarter, down from 3.4 percent annual growth in Q4 2023.Further muddying the waters for the Fed was a release from the Bureau of Labor Statistics on April 30, coinciding with the first day of the FOMC’s meeting, that reported a 1.2 percent increase in labor costs through the first quarter of 2024. While this data is not a key indicator for the Fed, the increase continues to show the effects of inflation within the labor market, making the situation more challenging for the central bank. Data suggests higher-for-longer interest rates Powell said the data released since the last meeting in February had given the FOMC some uncertainty, but they were committed to restoring price stability to the economy. While the agency is continuing to pause changes to its rate, Powell did say the Federal Reserve would also continue to reduce its security holdings, with the pace slowing in June.The committee came to its decision based on the stalling of inflation rates over the past several months as well as a tight labor market that, while becoming more balanced, continues to see demand exceed supply. Although much of the data pushed the agency towards a higher-for-longer policy on its rates, Powell suggested there were some bright spots in the economy, including supply and demand conditions returning to balance along with unemployment remaining relatively low at 3.8 percent. While Powell noted he doesn’t expect another rate hike, he was unwilling to state when rate cuts could be expected, suggesting that having the confidence to make cuts will take longer than expected. After the release of the policy decision, markets were mixed, with the S&P and Nasdaq falling off 0.34 percent and 0.7 percent respectively by the end of the trading day, while the Dow had a slight gain of 0.23 percent. Meanwhile, the US dollar index saw a decline, losing 0.64 percent.However, the gold price and silver price both saw gains, with gold climbing from US$2,299 in morning trading to a session high of US$2,327 and silver moving from US$26.43 to US$26.90, although both withdrew slightly. Gold has continued to trade at all-time highs in 2024, and set its latest record in early April when the gold price climbed to US$2,392. Silver has also performed strongly this year, and breached the US$29 level in the middle of last month.The next meeting for the Federal Reserve’s FOMC will take place June 11 to 12. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas pulls back again to test recent support around the top trendline of a symmetrical triangle bottom consolidation pattern. Today’s low was 1.91 and the four-day low was also 1.91. Tuesday’s high of 2.09 was the highest price for natural gas since February

In a unanimous decision, the US Senate has greenlit legislation to halt imports of Russian uranium, escalating efforts to disrupt Russia's activities amidst its ongoing conflict with Ukraine. The Prohibiting Russian Uranium Imports Act garnered unanimous consent in the Senate and now awaits President Joe Biden's signature to become law.The ban, expected to take effect within 90 days of enactment, is also poised to significantly impact the US market, given that the nation relies on imports to fulfill 100 percent of its annual uranium needs.According to 2023 data from the US Energy Information Administration 12 percent of annual uranium imports originated in Russia, 25 percent was mined in Kazakhstan and 11 percent in Uzbekistan. Russian sources for over 90 percent of its annual uranium consumption.The bipartisan bill, which received earlier approval from the House of Representatives in December, includes provisions for waivers in the event of domestic supply shortages for nuclear reactors. Moreover, it earmarks US$2.7 billion, previously allocated in legislation, to bolster the development of the domestic uranium processing industry.Uranium serves as a critical fuel for commercial nuclear reactors, playing a vital role in electricity generation. The US ban on Russian uranium imports mirrors previous actions taken against the nation, such as the prohibition of Russian oil imports following its invasion of Ukraine in 2022, alongside the implementation of price controls on select crude and oil product exports. The ban on Russian imports, if implemented, is expected to disrupt an estimated US$1 billion annual trade flow to Russia. Replacing this supply could pose a significant challenge and potentially raise the costs of enriched uranium by up to 20 percent.The proposed statute, set to expire at the end of 2040, also includes provisions allowing the Department of Energy (DOE) to issue waivers authorizing Russian uranium imports up to export limits established in an anti-dumping agreement through 2027. However, failure to secure these waivers could lead to a significant spike in uranium prices, potentially reaching record highs.Senator John Barrasso, Wyoming's Republican senator and top figure on the Senate Energy Committee, emphasized the readiness of states like Wyoming to step in and fill the void left by Russian imports. "Our bipartisan legislation will help defund Russia's war machine, revive American uranium production, and jumpstart investments in America's nuclear fuel supply chain," added the lawmaker in a press release.President Joe Biden, who recently signed a foreign aid bill channeling significant support to Ukraine, is expected to endorse the legislation banning Russian uranium imports. ​Biden administration’s efforts to ramp up domestic uranium supply Earlier this year the Biden administration announced incentives for private companies to ramp up the production of high-assay low-enriched uranium (HALEU). The move comes as part of a broader effort to reduce reliance on foreign sources of nuclear fuel and stimulate the growth of the US nuclear energy sector.Last autumn, a facility in Ohio initiated the nation's first domestic production of HALEU, albeit at a small scale. Now, with the support of the federal government, efforts are underway to expand domestic production capacity. The DOE has offered private companies a minimum of US$2 million each to kickstart HALEU production, marking the second phase of a US$500 million allocation from President Biden's climate-spending law, the Inflation Reduction Act.“Boosting our domestic uranium supply won’t just advance President Biden’s historic climate agenda, but also increase America’s energy security, create good-paying union jobs, and strengthen our economic competitiveness,” said Ali Zaidi, Biden’s national climate adviser, in a statement earlier this year.The move to incentivize domestic HALEU production comes amid growing concerns over Russia's dominant position as a supplier of traditional fuel imports for American utilities. While the US and its allies have imposed sanctions on Russian oil, gas, and mining companies in response to Russia's actions in Ukraine, the state-owned Rosatom continues to be a significant source of traditional fuel imports.Edward McGinnis, former chief executive of the fuel-recycling Startup Curio, likewise raised the potential of recycling nuclear waste to complement traditional uranium mining. He earlier called on the Senate and White House to champion measures to deploy nuclear waste recycling, describing it as a win-win solution that addresses both the nuclear waste problem and the need for domestic fuel production. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural Gas Natural Gas 010524 Daily Chart Natural gas is losing ground amid worries about Freeport LNG’s recovery and expectations of hawkish comments from Fed Chair Powell.

FXEmpire.com - Gold Gold 010524 Daily Chart Gold rebounds after yesterday’s sell-off as traders prepare for Fed decision, which will be released soon.

The World Gold Council (WGC) has released its latest gold demand trends report, highlighting a record quarterly average price of US$2,050 per ounce for the yellow metal on the back of strong demand. This represents a substantial 10 percent increase year-on-year and a notable 5 percent rise quarter-on-quarter, culminating in the precious metal reaching new heights and closing the three month period at US$2,214. “The upside potential has been really exciting to watch, but definitely something that is giving us a signal that there might be more than just strategic investment in play, likely some speculative investment playing out as well, whether that's in the Americas or actually overseas in Asia,” Joe Cavatoni, senior market strategist, Americas, told the Investing News Network (INN). “It's really something that we're keeping a close eye on, and as you can see, we have moments when big potential (and) opportunity develop, for example strong messaging around potential for rate cuts,” he added.The WGC's report highlights several notable trends in gold demand during the first quarter of 2024. Despite fluctuations in different segments, the period witnessed a robust gold market. Mine production saw a 4 percent year-on-year increase to reach 893 tonnes, setting a first quarter production record. Additionally, recycling responded to higher prices, surging by 12 percent year-on-year to 351 tonnes, marking the highest quarter of recycling supply since Q3 2020Western and eastern investors demonstrated contrasting behaviors, with western gold buying remaining strong but met with profit-taking, while eastern markets exhibited strong buying during the price surge.The report forecasts a positive outlook for the gold sector in 2024, driven by central banks and retail investment. Central banks continued their trend of net gold purchases, adding 290 tonnes (net) to official holdings in Q1. Moreover, retail investment is expected to remain robust, contributing to a strong year for gold. ​Q1 gold investment trends reflect global market volatility The first quarter of 2024 painted a complex picture marked by significant fluctuations in various sectors. Investment in gold during Q1, excluding over-the-counter (OTC) transactions, saw a notable decline of 28 percent year-on-year, totaling 199 tonnes. This drop was primarily driven by substantial outflows from gold exchange-traded funds (ETFs), which overshadowed modest growth in bar and coin demand.“It's about 6 percent of the investment market worldwide. So while it gets a lot of attention and it's very easy to track the net flows in the ETF market, it's just a small element that people need to pay attention to,” noted Cavatoni.Holdings of global gold ETFs experienced a sharp decline of 114 tonnes during the quarter, amounting to a decrease of US$6 billion. Despite this significant outflow, assets under management (AUM) reached their highest level in nearly two years, totaling US$222 billion, thanks to the robust performance of gold prices.Bar and coin investment, however, bucked the overall downward trend in gold investment, posting a modest 3 percent year-on-year increase to 312 tonnes. This increase was driven by buoyant demand for small gold bars, particularly in Asia, which offset a slump in demand for gold coins. The divergence in investment behavior between western and eastern markets was evident, with profit-taking by western investors contrasting with consistent investment demand in Asia.“Now, what's been playing out has been very clearly a lot of western investors anticipating and looking for that trend in terms of where rates are going to head and the dollar strength,” he added.Over-the-counter (OTC) investment, which includes transactions outside of traditional exchanges, remained a significant contributor to total demand and played a key role in driving gold prices to record highs in March. OTC investment totaled 136 tonnes in Q1, maintaining an average of 120 tonnes per quarter since the beginning of 2023. The opaque nature of OTC transactions makes estimating and attributing this investment challenging, but indicators such as net long positions held by money managers suggest substantial activity in this sector.Looking at specific regions, European gold ETFs lagged behind in Q1, experiencing a 4 percent decline in holdings. North America saw the largest tonnage decline in ETF holdings, primarily in January and February, with modest inflows observed in March. Similarly, European-listed ETFs saw outflows driven by adjustments in monetary policy expectations and rallying stock markets.In contrast, Asian-listed funds continued to attract inflows for the fourth consecutive quarter, with China leading the increase amid a weakening local currency and poorly performing domestic equity markets. China also witnessed a surge in bar and coin demand, reaching its highest quarterly total in over seven years. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

(RTTNews) - The Energy Information Administration released a report on Wednesday showing an unexpected rebound by U.S. crude oil inventories in the week ended April 26th.

FXEmpire.com - Natural Gas Technical Analysis Natural gas markets continue to meander in the same area that we’ve been in for a while. At this point, there’s not much to say other than we are going to continue to go back and forth. Underneath, we have the $1.50 level, which I thi

FXEmpire.com - US Natural Gas Prices Dip US natural gas prices continued their decline on Wednesday, extending Tuesday’s retreat. Lingering doubts surrounding Freeport LNG’s recovery and anticipation of bearish monetary policy news contributed to the market sentiment.

FXEmpire.com - Market Overview Oil prices declined for the third consecutive day, influenced by optimism over a potential ceasefire in the Middle East and rising U.S. crude i

Speaking to the Investing News Network, Craig Hemke, publisher of TFMetalsReport.com, shared his thoughts on what's behind gold's big price rise and current pullback, plus what could be next for the yellow metal. In his view, gold's move back below the US$2,400 per ounce level is completely normal — Hemke noted that nothing ever goes straight up, and emphasized that a "two steps forward, one step back" pattern is healthy.With that said, he does see strong upside potential for the precious metal in 2024. In his view, there are a lot of technical targets that line up with US$2,650 or US$2,700, and he said that's probably the next point to watch for. While those heights won't necessarily be achieved this year, Hemke thinks gold could finish the period at US$2,400 or US$2,500.Taking a step back to provide a look at the larger picture for gold as well as silver, he emphasized the importance of preparing for the inevitable collapse of the current debt-based system. "You reach a terminal phase, and I think we're finally now getting there, where the debt is growing exponentially and so quickly that the amount of new fiat money creation even just to service the debt — it all just begins to spin tighter and tighter and out of control," he explained during the interview. "Your protection against that sort of collapse has always been the ownership of physical gold and physical silver too."Watch the interview above for more from Hemke on gold and silver. Don't forget to follow us @INN_Resource for real-time updates!Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

The first quarter of 2024 began with copper prices remaining steadfast, staying within the US$8,000 to US$8,500 per metric ton (MT) range. However, the end of the quarter saw the red metal gain momentum on the LME and surge to a quarterly high of US$8,973 on March 18 before moving to set a two-year high on the London Metal Exchange of US$9,869 on April 30. The dramatic gains came on the back of tightening concentrate supply to Chinese smelters, who cut supply as competition between upgraders caused treatment charges to fall to their lowest point since 2010. While supply for refined copper was expected to shift into a deficit in 2025, the lowered output from smelters is looking to move that ahead to later this year. With higher copper prices affecting consumers, the effects have started to be felt by copper producers. So which companies have seen the biggest share increases on the TSX? Here are the Top 5.Data for this article was retrieved on April 24, 2024, using TradingView's stock screener, and only companies with market capitalizations greater than C$10 million are included. 1. Taseko Mines (TSX:TKO) {"@context":"http://schema.org","@type":"Corporation","name":"Taseko Mines Limited","url":"https://www.tasekomines.com","description":"Taseko Mines Ltd is a Canadian mining company. It is principally engaged in the production and sale of metals, as well as related activities, including exploration and mine development, within the province of British Columbia, Canada, and the State of Arizona, the United States. The Gibraltar, Aley, New Prosperity, and Harmony properties are located in British Columbia whereas Florence copper is in central Arizona.","tickerSymbol":"TSX:TKO","sameAs":[]} Press Releases Company Profile Year-to-date gain: 73.91 percent; market cap: C$944.77 million; current share price: C$3.20Taseko Mines is a copper producer and development company and holds a portfolio of assets in British Columbia, Canada and Arizona, US. Its primary asset is the Gibraltar mine located in Central BC. The mine is Canada’s second largest open-pit copper mine after Teck Resources' (TSX:TECK.A,TECK.B,NYSE:TECK) Highland Valley mine. Gibraltar boasts an 85,000 MT per day processing capacity and in 2023 produced 123 million pounds of copper. On March 25, Taseko acquired 100 percent ownership of the Gibraltar mine after it entered into an agreement with Dowa Metals and Mining (TSE:5714) and Furukawa (TSE:5715) to purchase the remaining 12.5 percent interest in the property. The company said the agreement was made as both Dowa and Furukawa are divesting themselves of their copper-mining investments. In addition to Gibraltar, the company is also working to advance its Florence copper project located near Florence, Arizona. The mine is expected to enter commercial production in 2025, and when fully operational will produce approximately 85 million pounds of copper per year. On January 16, the company provided an update for the project and announced it had secured an additional US$50 million in funding from Taurus Mining Royalty Fund in exchange for 1.95 percent of gross revenue from the sale of all copper from Florence. The company said the additional funds will allow it to accelerate construction at the site, with the build to begin in the second quarter.Shares in Taseko reached a quarterly high of C$2.99 on March 27. Buy now , 2. McEwen Mining (TSX:MUX) {"@context":"http://schema.org","@type":"Corporation","name":"McEwen Mining Inc.","url":"https://www.mcewenmining.com","description":"McEwen Mining Inc is a mining and minerals production and exploration company focused on precious and base minerals in Argentina, Mexico, and the United States. The company's overall revenue is principally derived from the production of gold and silver, each comprising roughly half of total sales. The company owns and operates the wholly-owned El Gallo 1 mine in Mexico, and has a minority shareholding in the company that operates the San Jose mine in Argentina. More than half the company's gold output is produced by the El Gallo 1 mine. The remaining gold production, and majority of silver production, is produced by the San Jose mine.","tickerSymbol":"NYSE:MUX","sameAs":[]} Press Releases Company Profile Year-to-date gain: 57.81 percent; market cap: C$721.14 million; current share price: C$14.96McEwen Mining is a mining company led by industry veteran Rob McEwen. It is working to advance its Los Azules copper project in San Juan, Argentina as well as the Fox Complex gold mines in Ontario, Canada, the Gold Bar mine in Nevada, United States and the San Jose gold mine in Argentina.Shares of McEwen Mining saw their largest gains at the end of February and the beginning of March. This rising share price coincided with positive news from the company's Q4 and full-year 2023 report, which was released on February 29. In the announcement, McEwen said it had 22 drills on site and was working toward delivering a feasibility study in Q1 2025. It also reported a 76 percent expected average copper recovery over a 27 year life-of-mine and projected after-tax net present value of US$262 million. Owned by subsidiary McEwen Copper, the joint project is a partnership between McEwen Mining which holds 48 percent, Rio Tinto (NYSE:RIO,LSE:RIO) which holds 14.5 percent and Stellantis (NYSE:STLA) which holds 19.4 percent. Shares in McEwen Mining reached a quarterly high price of C$13.36 on March 28. Buy now , 3. First Quantum Minerals (TSX:FM) {"@context":"http://schema.org","@type":"Corporation","name":"First Quantum Minerals","url":"https://www.first-quantum.com","description":"First Quantum Minerals Ltd is a diversified mining company. The company's principal activities include mineral exploration, mine engineering and construction, and development and mining operations. The firm produces copper in concentrate, copper anode, copper cathode, nickel, gold, zinc, silver, acid, and pyrite. It has operating mines located in Zambia, Panama, Turkey, Spain, Australia and Mauritania. The Company's reportable operating segments are Cobre Panama, Kansanshi, Trident and Ravensthorpe. Majority of the revenue is generated from Cobre Panama.","tickerSymbol":"TSX:FM","sameAs":[]} Press Releases Company Profile Year-to-date gain: 47.32 percent; market cap: C$12.94 billion; current share price: C$15.94First Quantum Minerals is a copper mining and development company with a global portfolio of Assets. Its primary asset has been the Cobre Panama mine located west of Panama City, Panama. The mine boasts 3 billion MT of proven and probable reserves and represents 1 percent of the World’s copper supply. The mine was ordered to close down in November 2023 after the Panamanian Supreme Court invalidated an extension to the mine's license. In a December 2023 release, the company said it was working on developing a closure plan for the mine that it expects to present in June 2024, but also noted it is pursuing all appropriate legal avenues to protect its investment and rights. In the company’s Q1 2024 financial update, released on April 24, First Quantum said it was continuing to work on a preservation and safe management plan for Cobre Panama, and was also working to deliver the 121,000 MT of concentrates that remain on site. Due to the ongoing situation in Panama, the company noted that it has undergone a refinancing program to improve its balance sheet and improve liquidity. This program has included working out a prepayment agreement with Jiangxi Copper for US$500 million, the completion of a US$1.6 billion senior secured second-lien at 9.38 percent due in 2029, and the issuance of 139.93 million common shares to raise proceeds of US$1.15 billion. In addition to the updates on its mine in Panama, First Quantum reported the production of 100,605 MT of copper through Q1, a 59,595 MT decrease over Q4 of 2023, which were largely attributed to the closure of Cobre Panama. These declines were partially offset at its Sentinel mine in Zambia where a year-over-year increase of 25,993 MT limited the loss to 38,148 MT of copper from the same period a year ago. However, First Quantum noted that production may be impacted in 2024 as drought conditions in Zambia have led to the government declaring a national emergency. Due to El Nino, there have been reduced water levels in the Kafue and Zambezi Rivers and power generation throughout the country has been impacted.The company has been working to mitigate these challenges and has entered into offtake agreements with third-party traders for power sourced from the Southern African Power Pool for a total of 80 megawatts. The agreements are expected to cost US$25 million.Shares of First Quantum reached a quarterly high of C$15.01 on March 15. Buy now , 4. Hudbay Minerals (TSX:HBM) {"@context":"http://schema.org","@type":"Corporation","name":"Hudbay Minerals Inc.","url":"http://www.hudbayminerals.com","description":"Hudbay Minerals Inc is a Canadian mining company with its operations, property developments, and exploration activities across the United States. The major mines that Hudbay operates are located in Manitoba, Canada, Arizona, United States; and Peru. The company is principally focused on the discovery, production, and marketing of base and precious metals. Hudbay produces copper concentrate, which contains copper, gold, and silver, as well as zinc metal. More than half the company's revenue is attributable to the copper business. The company sells copper concentrates to smelters across Asia, America, and Europe, and sells Zinc metal, the next biggest source of revenue, to industrial customers across North America.","tickerSymbol":"TSX:HBM","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=30828200&width=980","logo":"https://investingnews.com/media-library/image.gif?id=30828200&width=210"} Press Releases Company Profile Year-to-date gain: 46.01 percent; market cap: C$3.70 billion; current share price: C$10.60Hudbay Minerals is a copper production and development company with assets in BC and Manitoba, Canada; Arizona, US; and Peru.The company has four producing mines. According to its management discussion and analysis (MD&A) for 2023, Constancia and neighboring Pampacancha mines in Peru produced 100,486 MT of copper. Copper Mountain in BC saw 12,154 MT of copper and Snow Lake in Manitoba produced an additional 19,050 MT of copper. In total, this represented a 27,518 increase in copper production for 2022. In addition to its mining assets, the company is also working to advance its Copper World project in Arizona. In the MD&A, the company indicated it is working on receiving the final state permits for the site and expects to receive them sometime in 2024. The company is also in the process of completing a three prerequisites plan that is required for sanctioning which it expects in 2025.When complete, the mine is expected to have a 20 year life span, and according to a mineral resource estimate included in a March 28 annual reserve and resource update, Hudbay reported proven and probable average grades of 0.54 percent copper from 385 million MT. The company is also working on its greenfield Mason project in Nevada. Hudbay says it is developing the project as a long-term future asset and expects it to have a 27 year lifespan. Resource estimates from the site show measured and indicated average grading of 0.29 percent from 2.22 billion MT of ore, with additional inferred grading of 0.24 percent from 237 million MT. Shares of Hudbay reached a quarterly high of C$9.48 on March 28. Buy now , 5. Ivanhoe Mines (TSX:IVN) {"@context":"http://schema.org","@type":"Corporation","name":"Ivanhoe Mines Ltd.","url":"https://www.ivanhoemines.com","description":"Ivanhoe Mines Ltd is a mineral exploration and development company. The company, together with its subsidiaries, explores, develops, and recovers minerals and precious gems from its property interests located in Africa. The group explores platinum, nickel, copper, gold, silver, cobalt, iron, vanadium, and chrome. It operates in four segments: Platreef property, Kamoa Holding joint venture, Kipushi properties, and the Company's treasury offices.","tickerSymbol":"TSX:IVN","sameAs":[],"image":"https://investingnews.com/media-library/image.png?id=34666125&width=980","logo":"https://investingnews.com/media-library/image.png?id=34666125&width=210"} Press Releases Company Profile Year-to-date gain: 43.76 percent; market cap: C$23.03 billion; current share price: C$18.33Ivanhoe Mines is a copper production and development company that operates the Kamoa-Kakula copper mine, one of the largest in the world. Located in the Democratic Republic of Congo, the mine is a joint venture between Ivanhoe, which holds a 39.6 percent stake, China’s Zijin Mining Group (OTC Pink:ZIJMF), which holds another 39.6 percent stake, the Government of the Democratic Republic of Congo with a 20 percent share and Crystal River Global, which holds the remaining 0.8 percent. On April 3, Ivanhoe announced Q1 2024 production results for Kamoa-Kakula. In the report, Ivanhoe indicated that the mine had produced 86,203 MT of copper while achieving a quarterly mining record of 2.5 million MT of ore from Kakula and Kamoa 1 underground mines. The company also said that ore was being stockpiled ahead of the anticipated early commissioning of the Phase 3 concentrator, which is now scheduled to come online in May of this year. In addition, Ivanhoe said it is working to upgrade power generation at the site from 58 megawatts to over 200 megawatts ahead of the completion of the phase 3 smelter in Q4 2024. Once online, annual production at Kamoa-Kakula will increase to 650,000 MT of copper per year.Shares in Ivanhoe reached a quarterly high of C$16.24 on March 15. Buy now , FAQs for investing in copper Is copper a good investment in 2023? Copper's price trended downward throughout 2023. Although many experts have a positive long-term outlook for the red metal based on supply concerns and its growing role in the energy transition, recession worries in countries across the globe are creating short-term headwinds for copper, which is heavily used in industry. Investors who are interested in copper should make sure to perform their due diligence, as the volatility and unpredictability of markets and economies at the moment means that nothing is guaranteed. What is copper used for? Copper is used in many industries, from construction to electronics to medical equipment. In fact, in 2020, 32 percent of copper globally was used in equipment manufacturing and 28 percent in building construction. Two other growing sectors for copper are the burgeoning electric vehicle and green energy industries. Electric vehicles require a significant amount of the red metal per vehicle. How to invest in copper? Investors can get exposure to copper in a variety of ways. Holding physical copper is possible, but plenty of storage would be required to hold any significant value of the metal.For investors looking to invest in the metal without physically holding it, there are a few options. Copper stocks such as those on the TSX, TSXV and ASX are worth looking at. Additionally, there are copper exchange-traded funds and the copper options and futures markets on the London Metal Exchange. How to invest in a copper ETF? Copper exchange-traded funds (ETFs) can be a good way to diversify an investment portfolio, and they can be a more stable option compared to individual copper miners or explorers. There are multiple options available on the market, and they can usually be purchased in the same way one could purchase stocks through a broker or trading platform.In May 2022, Horizons launched Canada’s first copper equities ETF, the Horizons Copper Producers Index ETF (TSX:COPP), which is focused solely on pure-play and diversified copper-mining companies. There are two ETFs available on the US ARCA exchange as well. The Global X Copper Miners ETF (ARCA:COPX) tracks the Solactive Global Copper Miners Index, which includes copper miners, as well as copper explorers and developers. The other option is the United States Copper Index Fund (ARCA:CPER), which gives investors exposure to copper futures contracts by tracking the SummerHaven Copper Index Total Return (INDEXNYSEGIS:SCITR). How much is copper worth? The copper price is tracked in two ways: COMEX copper and London Metal Exchange (LME) copper. The COMEX and LME are both options and futures metal exchanges, with the former being headquartered in New York and the latter in London. COMEX copper is priced by the pound, while LME copper is priced per MT. Where is copper mined and how is it processed? Copper is mined throughout the world, with significant production found on every continent besides Antarctica. Chile was the top producer in 2022, putting out 5.2 million MT of the metal. Rounding out the top five are Peru and the Democratic Republic of Congo with 2.2 million MT each, China with 1.9 million MT and the US with 1.3 million MT.Once copper is mined, the ore goes through multiple steps to reach a market-ready state. First, the ore is ground to roughly separate the rock from the copper, as copper typically only makes up 1 percent of the mined rock. The resultant copper is then slurried with water and chemical reagents, after which air is used to float the copper to the top of the mixture. After the copper is removed from this, it is typically at 24 to 40 percent purity. Lastly, the copper is refined at a refining plant or smelter using one of two methods, pyrometallurgy and hydrometallurgy. Pyrometallurgy is employed for copper ore that is sulfide rich, while hydrometallurgy is used when the ore is oxide rich. The Investing News Network's guide on copper refining goes into further detail about how those processes work. Once these processes are complete, the copper is concentrated to up to 99.99 percent purity. Article by Dean Belder; FAQs by Lauren Kelly. Don’t forget to follow us @INN_Resource for real-time news updates! Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article. Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

Coming off a volatile 2023, copper started the new year trading in the US$8,000 to US$8,500 range in January and February. However, the red metal saw significant gains starting at the end of February and through March as news of production cuts from Chinese smelters began to make headlines. The cuts came as supply for concentrates became tight, sending treatment charges to their lowest point since 2010. The results of the cuts pushed the price of copper on the London Metal Exchange to a quarterly high of US$8,973 per metric ton (MT) on March 20. The price has continued to see gains and reached a two-year high of US$9,814 on April 24.With the demand for copper set to soar within the next several years, has this elevated pricing helped small-cap explorers on the TSXV? These are the five biggest gaining stocks since the start of 2024. Data for this article was gathered on April 24, using TradingView's stock screener, and all companies had market caps of over C$10 million at that time. Read on to see what's been moving their share prices. 1. Sandfire Resources (TSXV:SFR) {"@context":"http://schema.org","@type":"Corporation","name":"Sandfire Resources America Inc.","url":"http://www.sandfireamerica.com","description":"Sandfire Resources America Inc is engaged in the exploration, development, and mining of its 100% owned flagship property, the Black Butte Copper Project in central Montana, USA. The property contains sediment-hosted zones of massive sulfide mineralization. The drilling encountered significant zones of strata-bound copper sulfide with cobalt in multiple bedded pyrite zones in the lower part of the Precambrian Belt Super group.","tickerSymbol":"TSXV:SFR","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=29647894&width=980","logo":"https://investingnews.com/media-library/image.gif?id=29647894&width=210"} Company Profile Year-to-date gain: 211.11 percent; market cap: C$266.07 million; current share price: C$0.28Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company's mine operating permit for Black Butte, halting construction activities of the underground mine.Sandfire describes the project as one of the highest grade undeveloped copper deposits in the world; a resource estimate for the project's Johnny Lee deposit completed in 2020 reported measured and indicated resources of 10.9 million MT grading 2.9 percent copper for a total of 311,000 MT contained copper.Shares of Sandfire soared following a February 26 decision by the Montana Supreme Court to reinstate the company's mine operating permit. The win is a crucial step for Sandfire to continue the construction of its mine.The company has not released any further updates about the project. Shares of Sandfire reached a quarterly high of C$0.29 on March 4. Buy now , 2. American Eagle Gold (TSXV:AE) {"@context":"http://schema.org","@type":"Corporation","name":"American Eagle Gold","url":"https://americaneaglegold.ca/","description":"Exploring a World-Class Gold Deposit in Nevada’s Cortez Trend\n","tickerSymbol":"TSXV:AE","sameAs":[],"image":"https://investingnews.com/media-library/accredited-investor-lead.png?id=27863835&width=980","logo":"https://investingnews.com/media-library/accredited-investor-lead.png?id=27863835&width=210"} Press Releases Company Profile Year-to-date gain: 171.7 percent; market cap: C$67.31 million; current share price: C$0.72American Eagle Gold is a copper and precious metals exploration company working to advance its NAK property in Central BC, Canada. Hosted within the Babine copper-gold district, the NAK property has seen historical exploration dating back to the 1960s. American Eagle completed the acquisition of the site in December 2021, and has drilled 17 holes for a total of 13,854 meters during 2022 and 2023 exploration programs. On January 8, the company announced results from the final hole of its 2023 program, which returned the highest grading. It reported a 302 meter intersection containing 0.53 grams per metric ton (g/t) gold, 0.4 percent copper, 1.27 g/t silver and 431.4 parts per million molybdenum. The company’s most recent update for the project came on March 15, when it announced it was fully funded to begin a 15,000 meter drill program that is scheduled to start in May. The program will focus on expanding and outlining near-surface potential and connecting the northern and southern targets at the property. Shares of American Eagle reached a quarterly peak of C$0.71 on March 28. Buy now , 3. Libero Copper (TSXV:LBC) {"@context":"http://schema.org","@type":"Corporation","name":"Libero Copper & Gold","url":"http://www.liberocopper.com","description":"Exploring and Developing Exciting Porphyry Copper-Gold Projects in the Americas\n","tickerSymbol":"TSXV:LBC","sameAs":[],"image":"https://investingnews.com/media-library/libero-copper.png?id=27864382&width=980","logo":"https://investingnews.com/media-library/libero-copper.png?id=27864382&width=210"} Press Releases Company Profile Year-to-date gain: 160 percent; market cap: C$24.24 million; current share price: C$0.52Libero Copper is an exploration company focused on its flagship Mocoa project located in Putumayo, Colombia. The site consists of six concession contracts that cover an 11,391 hectare land package. The deposit was first discovered as part of a 1973 geochemical survey backed by the United Nations and Colombian government. The site saw subsequent exploration between 1978 and 1983, then again by B2Gold (TSX:BTO,NYSE:BTG) from 2008 until 2012. The project was acquired by Libero in 2018 from B2Gold (TSX:BTO,NYSE:BTG), but has seen limited exploration. However, a resource estimate from November 2021 reported inferred values of 4.6 billion pounds of copper and 510.5 million pounds of molybdenum from 636 million MT grading 0.33 and 0.036 percent, respectively. In 2024, Libero has raised funds, announcing the closing of C$3 million private placement on February 15, followed by an additional C$2.86 million private placement on March 11. Shares of Libero reached a quarterly high of C$0.80 on March 13. Buy now , 4. Koryx Copper (TSXV:KRY) {"@context":"http://schema.org","@type":"Corporation","name":"Koryx Copper","url":"https://investingnews.com/stocks/tsxv-kry/koryx-copper/","description":"Deep-South Resources is a mineral exploration and development company.","tickerSymbol":"TSXV:KRY","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52151330&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52151330&width=210"} Company Profile Year-to-date gain: 155.56 percent; market cap: C$21.21 million; current share price: C$0.115Formerly Deep-South Resources, the company announced in November 2023 that it would be changing its name to Koryx Copper to better represent its core values.The company is focused on the advancement of copper exploration projects in Namibia and Zambia.Its flagship asset is the Haib copper project located in Southern Namibia near the border with South Africa. In an amended preliminary economic assessment released on January 8, the company indicated 20 million MT per year of ore processing with 85 percent copper recovery for a yearly production of 38,337 MT of copper and an additional 51,081 MT of copper sulfate.Since the start of 2024, Koryx has published a number of assay results from exploration at Haib, the most recent came on April 24. In the announcement, the company highlighted grades of 0.49 percent copper over 207 meters, including an intersection of 0.58 percent copper over 92 meters.The company said it was pleased with the results and they are demonstrating the average grade could be higher than previous resource estimates indicate. Koryx also said there were nine holes from the drill program that have yet to be reported.Shares of Koryx reached a quarterly high of C$0.80 on March 28. Buy now , 5. Chakana Copper (TSXV:PERU) {"@context":"http://schema.org","@type":"Corporation","name":"Chakana Copper","url":"https://investingnews.com/stocks/tsxv-peru/chakana-copper/","description":"Chakana Copper Corp is a Canada-based company focused on the exploration of the Soledad copper-gold-silver project located in Central Peru.","tickerSymbol":"TSXV:PERU","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=51087297&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=51087297&width=210"} Press Releases Company Profile Year-to-date gain: 133.33 percent; market cap: C$26.44 million; current share price: C$0.105Chakana Copper is a copper exploration company focused on developing its Soledad project in the Ancash region of Peru. The site hosts high-grade copper, silver and gold mineralization across 4,200 hectares. An initial inferred resource estimate released in February 2022 shows the site hosts 191,000 ounces of gold, 11.7 million ounces of silver and 59,200 MT of copper. On January 15, the company announced the closing of C$3 million in upsized funding with an investment from Gold Fields (NYSE:GFI) and former President and CEO of Sprott Holdings (TSX:SII,NYSE:SII) Rick Rule. At the time, the company said it would use the bulk of the proceeds to drill untested targets at the southern half of Soledad. Chakana followed up on April 5, announcing that a 3,000-meter drill program had commenced at the Mega-Gold, La Joya and Estremadoyro targets at Soledad. The new program will mark more than 62,000 meters of drilling at the site since 2017. Shares of Chakana reached a quarterly high of C$0.10 on March 28. Buy now , Don't forget to follow us @INN_Resource for real-time updates! Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

The first quarter of 2024 saw increasing trends in Brent Crude and West Texas Intermediate prices, attributed to ongoing tensions from the Russia-Ukraine conflict and global economic conditions. OPEC countries' production cuts and Russia's commitment to reduce exports also supported prices.Despite volatility, prices remained stable between US$70– US$87 per barrel. Natural gas prices, however, sank to multi decade lows due to warmer-than-expected weather and ample supply. Looking ahead, FocusEconomics panelists forecast a 10 percent decline in spot prices for oil over the next decade, while gas prices are expected to remain below highs set in 2022, with potential declines in Asia and Europe and steady prices in the US. Increased US LNG export capacity could lead to price convergence among regions by 2025.The price stability in the oil market also helped some oil and gas stocks register gains for the quarter. The five top oil and gas stocks on the TSX and TSXV listed below saw significant share price growth over the first three months of 2024. All year-to-date performance and share price data was obtained on April 25, 2024, using TradingView’s stock screener, and the top oil and gas stocks listed had market caps above C$10 million at that time. 1. Sintana Energy (TSXV:SEI) {"@context":"http://schema.org","@type":"Corporation","name":"Sintana Energy Inc.","url":"http://www.sintanaenergy.com","description":"Sintana Energy Inc is a Canada-based oil and gas exploration company. The company has interests in the Magdalena Basin, Colombia. Its geographical segments are United States, Canada, and Colombia.","tickerSymbol":"TSXV:SEI","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=30828853&width=980","logo":"https://investingnews.com/media-library/image.gif?id=30828853&width=210"} Company Profile Year-to-date gain: 222.7 percent; market cap: C$396.4 million; share price: C$1.07 Sintana Energy, an oil and gas exploration and development company, operates across five highly prospective onshore and offshore petroleum exploration licenses in Namibia and Colombia.Share prices saw early year tailwinds after the company released two updates on exploration activity in Namibia’s Orange Basin. During the exploration campaign of Petroleum Exploration License 83 (PEL 83) two significant light oil discoveries were made in January. February saw more share price growth when Sintana was listed on the TSX Venture 50 ranking as the top energy performer.In mid-March Sintana announced the results of its warrant exercise activity, revealing an approximate 99 percent exercise rate, which generated an additional C$22.5 million in cash resources for the company. A few days later the company reported a third light oil discovery for the quarter in the Orange Basin.Shares rose to a quarterly high of C$0.58 at the end of March. Buy now , 2. MEG Energy (TSX:MEG) {"@context":"http://schema.org","@type":"Corporation","name":"MEG Energy","url":"https://investingnews.com/stocks/tsx-meg/meg-energy/","description":"MEG Energy is engaged in in situ oil sands development and production in Alberta, Canada.","tickerSymbol":"TSX:MEG","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=52151353&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=52151353&width=210"} Company Profile Year-to-date gain: 31.8 percent; market cap: C$8.6 billion; current share price: C$31.57MEG is an energy company with a focus on in situ thermal oil production in Alberta's southern Athabasca oil region. Utilizing innovative enhanced oil recovery projects, including steam-assisted gravity drainage extraction methods, the company aims to increase oil recovery responsibly while reducing carbon emissions.Shares of MEG spent the three-month session trending higher reaching a Q1 high of C$31.48 at the end of March.In late February MEG reported its fourth-quarter and full-year 2023 financial and operating results. Included in the results was record annual bitumen production and increased funds flow from operations.MEG's production outlook for 2024 remains positive, with plans to optimize operations and enhance capital efficiency. Additionally, the company announced a capital allocation strategy focused on debt reduction and returning capital to shareholders.On March 6, the energy company launched a share buyback program, aiming to repurchase up to 24,007,526 common shares between March 11, 2024, to March 10, 2025. This initiative is part of the company's strategy to enhance shareholder returns and reduce debt. Buy now , 3. Obsidian Energy (TSX:OBE) {"@context":"http://schema.org","@type":"Corporation","name":"Obsidian Energy Ltd.","url":"https://www.obsidianenergy.com","description":"Obsidian Energy Ltd, is an intermediate-sized oil and gas producer with strategic assets in Alberta. It operates in a single reporting segment that is exploration, development and holding an interest in oil and natural gas properties and related production infrastructure in the Western Canada Sedimentary Basin. The company generates the majority of the revenue from the Crude oil sale.","tickerSymbol":"TSX:OBE","sameAs":[],"image":"https://investingnews.com/media-library/image.gif?id=33100122&width=980","logo":"https://investingnews.com/media-library/image.gif?id=33100122&width=210"} Company Profile Year-to-date gain: 29.4 percent; market cap: C$912.9 million; current share price: C$11.79Obsidian Energy is an intermediate-sized oil and gas producer, with a portfolio of assets that yield approximately 32,000 barrels of oil equivalent per day. The company's primary operations are in the Peace River, Cardium, and Viking regions of Alberta, Canada. In early January, Obsidian released its full year 2023 results which included a 6 percent year-over-year increase. Later in the month the Calgary-based company provided the results of a 2023 independent reserves evaluation.“We replaced 124 percent of 2023 production on a proved developed producing (PDP) basis, 157 percent on a total proved (1P) basis and 217 percent on a total proved plus probable (2P) basis,” the statement read.In February Obsidian announced the completion of the first half 2024 capital program, highlighting ongoing development in the Willesden Green/Pembina assets in Cardium and exploration and appraisal activity in the Clearwater and Bluesky formations in Peace River.Additionally, Optimization of Viking wells drilled in late 2023 yielded strong production results.“Current production has surpassed 36,500 barrels of oil equivalent per day (boe/d) based on field estimates. Despite production impacts from January's cold weather, operations have resumed normalcy, with production slightly exceeding planned targets year-to-date, aided by strong initial rates from wells brought online in February,” the company said.In March, Obsidian successfully completed a previously announced offer to purchase 2 million of its outstanding senior unsecured notes.Share reached a quarterly high on March 31 and were trading for C$11.26. Buy now , 4. Imperial Oil (TSX:IMO) Year-to-date gain: 27.25 percent; market cap: C$51.92 billion; current share price: C$96.91Calgary-based Imperial Oil is a prominent Canadian energy company involved in exploration, production, refining, and marketing of petroleum products. With a history spanning over 140 years, Imperial operates diverse assets across Canada, including oil sands, conventional crude oil, and natural gas assets.On February 2, Imperial released its Q4 2023 results which highlighted upstream production of 452,000 gross oil-equivalent barrels per day, “marking its highest level in over three decades.”Additionally, Imperial initiated steam injection at Cold Lake Grand Rapids, pioneering the industry's first deployment of a solvent assisted SAGD technology. Downstream operations performed strongly, with refinery capacity utilization reaching 94 percent, following the successful completion of the largest planned turnaround at the Sarnia site.The company returned more than C$2.7 billion to shareholders, including the completion of a substantial issuer bid. Additionally, Imperial increased its quarterly dividend by 20 percent, from C$0.50 to C$0.60 cents per share. Lastly, the company released its annual corporate Sustainability report, highlighting its sustainability focus areas and achievements.In March Imperial implemented temporary measures to ensure fuel supplies to Winnipeg during unplanned pipeline maintenance. The Winnipeg Products Pipeline, which transports gasoline, diesel, and jet fuel to the area, required preventative maintenance, including the replacement of a section under the Red River.The work that began in mid-March is expected to take three months.Shares marked a Q1 high of C$94.69 on March 31. 5. Condor Energies (TSX:CDR) {"@context":"http://schema.org","@type":"Corporation","name":"Condor Energies","url":"https://investingnews.com/stocks/tsx-cdr/condor-energies/","description":"Condor Energies is an internationally-focused, publicly traded energy company uniquely positioned on the doorstep of European and Asian markets.","tickerSymbol":"TSX:CDR","sameAs":[],"image":"https://investingnews.com/media-library/image.jpg?id=34639427&width=980","logo":"https://investingnews.com/media-library/image.jpg?id=34639427&width=210"} Company Profile Year-to-date gain: 23.94 percent; market cap: C$99.4 million; current share price: C$1.76Condor Energies concentrates on the exploration, development, and production of natural gas resources across Turkey, Kazakhstan, and Uzbekistan. Notably, the company is currently building Central Asia's inaugural liquefied natural gas facility.Furthermore, in mid-2023, it disclosed the procurement of a lithium brine mining license in Kazakhstan.In late January Condor secured a natural gas allocation from the Government of Kazakhstan for its maiden modular liquefied natural gas (LNG) production facility. The gas allocation will be instrumental in liquefying feed gas to produce up to 350 tonnes per day of LNG, equivalent to about 210,000 gallons per day, the company said.Condor shares rose to a quarterly high of C$2.76 on February 20.In March, the energy company began a production enhancement operation for eight natural gas-condensate fields in Uzbekistan. Gas output will be directed to the domestic market through state entity agreements. Condor has agreed to cover project costs and receive a share of the generated revenues. The production increase plans will be facilitated through several measures including artificial lift and drilling programs, exploring deeper horizons, and conducting seismic reprocessing. Buy now , Don’t forget to follow us @INN_Resource for real-time news updates!Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

FXEmpire.com - Natural gas exceeded its first target today at the completion of a rising ABCD pattern. The high for Tuesday is 2.09 and the pattern target was 2.07. Resistance was seen off the high and trading is happening at the lows of the day at the time of this writing. It lo

FXEmpire.com - Natural Gas Natural Gas 300424 Daily Chart Natural Gas is losing ground after an unsuccessful attempt to settle above the $2.00 level.

FXEmpire.com - Gold Gold 300424 Daily Chart Gold is under strong pressure as traders focus on rising Treasury yields and prepare for hawkish comments from Fed Chair Jerome Powell. The Fed will announce its Interest Rate Decision tomorrow.

In a bid to expand its electric vehicle (EV) capabilities, Honda Motor (NYSE:HMC) has announced plans to invest approximately C$15 billion to establish a comprehensive EV value chain in Ontario, Canada. The investment reflects Honda's efforts to meet the increasing long-term demand for EVs in North America.“Today's announcement is a historic investment by a manufacturer in the Canadian auto industry,” said Honda Canada President and CEO Jean Marc Leclerc in a company announcement on April 25. “It proudly honors the highly skilled associates who have earned a global reputation for manufacturing excellence and represents Honda’s recognition of the long-term attractiveness of the Canadian electric vehicle manufacturing ecosystem.”The proposed EV value chain will include the construction of an innovative EV assembly plant and a standalone battery manufacturing facility in Alliston, Ontario. Additionally, Honda plans to build a cathode active material and precursor (CAM/pCAM) processing plant and a separator plant through joint venture partnerships.Once operational, the EV assembly plant is expected to produce up to 240,000 vehicles per year, with the battery manufacturing facility boasting a capacity of 36 gigawatt hours annually. The project is anticipated to create over 1,000 new manufacturing jobs in Ontario, while also generating significant spinoff employment opportunities across various sectors."Today’s announcement is a game changer for manufacturing in Canada,” said Justin Trudeau, Canada’s prime minister. “Honda’s investment is a vote of confidence in Canada, in Canadian auto workers, and in our manufacturing sector. Together, we’re creating good-paying jobs, growing our economy, and keeping our air clean."Honda's investment aligns with its transition toward carbon neutrality, with a target to achieve 100 percent zero-emission EV sales by 2040. The move also involves supplementary investments such as retooling existing facilities and establishing a joint venture EV battery plant with LG Energy Solution (KRX:373220), with an expected investment of US$4.4 billion.The company views the establishment of the EV value chain in Ontario as a strategic step toward achieving this goal, leveraging the region's skilled workforce and supportive business environment.Collaboration with the Canadian and Ontario governments will also play a crucial role in driving innovation and providing incentives to support the project. The federal government's new investment tax credits and provincial incentives aim to promote low-emission manufacturing and attract investments in EV supply chain segments. North America's EV landscape The North American EV market is slated for substantial growth, driven by increasing EV adoption and supportive government initiatives, according to a forecast from Fortune Business Insights.As the third largest region in the global EV market, the area is projected to experience a CAGR of 16.1 percent during the forecast period. The market size is expected to soar from US$62.73 billion in 2022 to US$228.47 billion by 2030.In the US, both consumers and the government are increasingly investing in electric mobility. The US Department of Transportation's approval of EV charging network plans for all states, covering approximately 75,000 miles of highways, underscores the nation's commitment to expanding EV infrastructure.Canada also boasts untapped potential in the production of essential materials for EV components. As one of the top five countries producing cobalt, copper, graphite, precious metals, nickel and uranium, Canada's expansion into lithium, magnesium and rare earths production further strengthens its EV market position. Don't forget to follow us @INN_Technology for real-time updates!Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.