Happy Thursday Everyone. It's been another busy week, we have a lot to unpack today. We're going to touch on why Chile is aiming to double lithium output, highlight Nippon Steel’s commitment to the United Steelworker sunion, and more. Let's dive in.

Before we do, did you miss us at PDAC 2024? Watch our Mining Into The Heart Of EV Innovation interviews.

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PRICE CHECK

Precious Metals:

• Gold: 2,284.33 (-0.66%)

• Silver: 26.79 (-1.61%)

• Platinum: 931.62 (-0.41%)

• Palladium: 1,023.74 (+0.71%)

Industrial Metals:

• Copper: 8,930.85 (+0.48%)

• Iron Ore: 100.41 (-2.49%)

• Nickel: 16,865 (-0.65%)

• Aluminum: 2,428.80 (+2.41%)

Energy Materials:

• Coal: 115.75 (-2.11%)

• Uranium: 89.00 (+1.69%)

Intraday prices as of 4:00 pm EST 04/04/2024.

ZINGERS

5E Advanced Materials (NASDAQ:FEAM) launched full commercial operations of its Boron Americas Complex designated as U.S. Critical Infrastructure for boron and lithium.

Gold Fields (NYSE:AU) initiated gold production at its Salares Norte mine in Chile, marking a significant 13-year journey from discovery to operation.

Aura Minerals (OTCQX:ORAAF) has issued a positive update on its mineral reserves as gold hits record highs.

Rio Tinto (NYSE:RIO), the world’s second-largest metals and mining corporation, is facing a possible divestment from the Norwegian sovereign wealth fund.

Nippon Steel formalized its commitment to the United Steelworkers (USW) union to support its $14.1 billion bid to acquire United States Steel.

TOP STORY

Chile's Lithium Vision: Ambitious Plans Shine While US Market Tries To Overcome Fragmentation

Briefly: Chile aims to double lithium output, recognizing shortage risks.

What Happened: The motivation behind this push lies in the nation’s recognition of the potential risks posed by lithium shortages, which could lead to significant economic repercussions for the second-largest producer of this metal critical for clean energy transition. 

Quoted: "Production needs to increase so that it remains profitable and attractive to manufacture lithium batteries for electro-mobility," Chilean Finance Minister Mario Marcel said in an interview for Bloomberg.

So Then: The Chilean government’s strategy involves opening up 26 new salt flats for lithium extraction. Among these salt flats, the Atacama and Maricunga salars stand out as the largest and most strategically significant, with a combined lithium potential of 10.8 million tonnes, representing 64% of global reserves.

Click here to read more.

UPGRADES AND DOWNGRADES

Arcadium Lithium (NYSE:ALTM) - Date: 04/03/2024, Industry: Chemicals, Analyst Firm: Payment James, Ratings: Upgrade to Strong Buy, Target: $9

MAG Silver (AMEX:MAG) - Date: 03/28/2024, Industry: Basic Materials, Analyst Firm: Scotiabank, Ratings: Upgrade to Sector Outperform, Target: $13.5

Caledonia Mining (AMEX:CMCL) - Date: 03/28/2024, Industry: Basic Materials, Analyst Firm: Cantor Fitzgerald, Ratings: Downgrade to Hold, Target: N/A

INSIDER TRADES

PHX Minerals (NYSE:PHX) - Purchase Date: 03/25/2024, Insider: Chad True, Value: $3.22K, Delta Own: +1.37%

Comstock Resources (NYSE:CRK) - Purchase Date: 03/24/2024, Insider: Blue Star Exploration, Value: $100.45M, Delta Own: +6.86%

Notable Sales

Crescent Energy (NYSE:CRGY) - Sell Date: 03/31/2024, Insider: KKR Group, Value: $64.44M, Delta Own: -91.29%

Northern Oil & Gas (NYSE:NOG) - Sell Date: 04/03/2024, Insider: James B. Evans, Value: $25.12K, Delta Own: -0.81%

Go Deeper: Learn where the insiders are buying and selling.