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Perpetua's Antimony-Gold Rush Begins, Big Tech Stumbles and NVIDIA's Rollercoaster Ride Unpacked
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Featured Article this week:
America bets big on antimony with a bold mining approval, securing critical minerals and cutting reliance on China.
Securing Critical Minerals: The U.S. approved Perpetua Resources’ Stibnite project in Idaho to reduce reliance on China for antimony, addressing vulnerabilities exposed by China’s recent export ban and aiming to supply 35% of America’s annual antimony demand by 2028.
Geopolitical and Economic Strategy: The project strengthens U.S. national security and economic independence, with $60 million Pentagon funding and potential $1.8 billion financing from the U.S. Export-Import Bank, signalling broader domestic mining expansions for lithium, cobalt, and rare earth elements.
Balancing Resources and Environment: While creating economic growth, the project faces opposition from environmental groups, yet Perpetua plans to clean up past mining pollution and set a precedent for responsible mining practices to balance development and sustainability.
Market Snapshot:
Healthcare: Experienced gains, led by pharmaceutical companies like Eli Lilly (LLY) and Johnson & Johnson (JNJ).
Consumer Cyclicals and Communication Services: Faced pressures, particularly in retail Amazon (AMZN) and automakers Tesla (TSLA), as well as mixed results in media and entertainment stocks.
Big Tech: Showed mixed results, with notable declines in NVIDIA (NVDA) and Broadcom (AVGO), while Texas Instruments (TXN) posted gains.
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