United States Copper Index Fund

CPER

Market cap $347M

Copper prices climbed to a fresh record, driven by persistent concerns over tightening global supply and large volumes of the metal being shipped into the U.S. due to fears of potential tariffs.

Copper advanced to a record high on the London Metal Exchange on fears the global market is heading for a supply crunch. The sharp moves higher came after a major industry conference in Shanghai last week that highlighted signs of supply stress following a year of unplanned mine disruptions.

Galileo Resources PLC (AIM:GLR) has announced the signing of a conditional collaboration agreement with Jubilee Metals Group, for a partnership in the Molefe copper project in Zambia. It sees Galileo funding a US$700,000 exploration and resource programme, in order to earn up to 23.75% in the project holding company.

Askari Metals Ltd (ASX:AS2) earlier this week announced it has acquired full ownership of Hong Kong Xingxu Mining International Investment, giving the company full rights to the Nejo Gold and Copper Project in Ethiopia. The company told investors that the project comprises three licences valid until March 2028, allowing a multi-year window to advance exploration and feasibility work.

Northstar Gold Corp. (CSE:NSG) said on Monday it signed a Master Project Agreement with DIGITAL, Canada's Global Innovation Cluster for digital technologies, along with Novamera Inc and Micon International, to support data-driven and digital solutions for its Cam Copper Surgical Mining Project in Ontario. The agreement forms part of a broader DIGITAL-backed initiative that will provide partial funding for the project, the company said, adding that further details will be released later.

UBS expects copper prices to rise into next year, citing tightening supply from persistent mine disruptions and strong long-term demand from electrification and clean-energy investment, the bank said in a note on Friday.

Cyprium Metals Ltd (ASX:CYM, OTC:CYPMD) earlier this week received final approval to restart the Nifty Copper Project in Western Australia. The approval came from the Department of Energy and Economic Diversification.

Copper analysts tend to get overexcited when a big mine stumbles. A landslide here, a flooded shaft there, and suddenly the world is supposedly running out of red metal.

Askari Metals Ltd (ASX:AS2) earlier this week provided an update on its copper and gold exploration activities at the Nejo project in Ethiopia. The company said the campaign is its first reconnaissance-style program at Nejo.

Unicorn Mineral Resources PLC (LSE:UMR) shares rocketed some 45%, reaching as high as 4.79p in early deals, after announcing a conditional deal to acquire a 75% interest in the Klein Aub copper mine in Namibia. The proposed ZAR 26.5 million acquisition includes settlement of minor local liabilities and will be partly satisfied through new shares.