Santa Checks the Supply Chains Twice: Who's Naughty and Nice in Critical Minerals

As we close out 2025, the USGS's final Critical Minerals List, now at 60 commodities, underscores the ongoing vulnerabilities in global supply chains, particularly from concentrated production and recent export controls. Rare earth elements remain the highest-risk due to disruption impacts, while materials like lithium benefit from more diversified sources in friendly nations.

The IEA's Global Critical Minerals Outlook highlights how price swings and investment slowdowns are hindering diversification efforts. It's a reminder that building resilient, ally-focused supplies isn't just policy, it's essential for tech, energy, and security innovation.

What steps should industry leaders take next to accelerate friend-shoring?

“Just a Gold Mine”: US Antimony CEO Questions Perpetua’s Stibnite Narrative

As gold surges past $4,400 and antimony remains a geopolitical flashpoint, a candid critique from United States Antimony Corporation CEO Gary C. Evans has sparked healthy debate in the critical minerals space.

He described Perpetua Resources’ Stibnite project as fundamentally “a gold mine with a little bit of antimony”, a reminder that sky-high gold prices can make even modest byproduct credits look strategic.

Both companies are advancing U.S. interests: Perpetua with long-term scale and innovative refining pilots, UAMY with immediate smelter output and a major DoD contract.

Competition sharpens everyone and now investors are excited to see how this plays out for domestic resilience in munitions, renewables, and beyond.

Gold Smashes $4,400 Barrier as Silver Hits $69 Record Amid Global Tensions

Gold and silver are making history again today, December 22, 2025 - spot gold surging past $4,400 to peak at ~$4,427, while silver touched a record $69.44.

This explosive move extends 2025's epic performance: gold up ~68% YTD, silver a staggering 138-140%, the strongest since 1979.

Drivers? Expectations of multiple Fed rate cuts in 2026, a softer dollar, relentless central bank buying, ETF inflows, and heightened safe-haven demand from geopolitical risks – including intensified US pressure on Venezuela and Ukraine's bold actions against Russian oil infrastructure.

With Goldman Sachs eyeing $4,900 for gold in 2026, the structural bull case remains intact. In uncertain times, precious metals continue to shine as portfolio diversifiers and stores of value.

What are your thoughts on the outlook for bullion heading into the new year?

All I Want for Christmas Is... $12,000 Copper? Ho Ho Ho, Bulls Got It!

As we wrap up 2025, the copper market is delivering one of the most dramatic stories of the year: prices have surged past the historic $12,000 per ton mark on the LME, marking the strongest annual performance since 2009.

Driven by U.S. tariff policies sparking massive front-running imports, combined with severe supply disruptions at major mines, the rally has persisted despite softer demand in China. Long-term tailwinds from electrification, EVs, renewables, and AI data centers, continue to underpin the bull case.

A fascinating mix of policy, geology, and technology reshaping a critical commodity.

What are your thoughts on copper's outlook heading into 2026?

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