Episode Details

Centinela Unions Reach Preliminary Deal, Ending the Strike: First, Chile, where the strike at Antofagasta's Centinela copper mine looks set to end. Reuters reports workers from the two striking unions reached a preliminary agreement on a new collective contract late on Friday, ending a strike that had lasted more than a week. The Distrito Centinela and Minera Esperanza unions have more than 700 members, and the strike began on October 7 after contract talks failed. Thompson Nickel Complex Changes Hands as Exiro Closes Deal with Vale Base Metals: Next, Manitoba, where the sale of the Thompson nickel operations has closed. Natural Resources Canada says ownership of the Thompson Mine Complex has transferred from Vale Base Metals to Exiro Nickel Company, a consortium led by Exiro Minerals Corp. with Orion Resource Partners and the Canada Growth Fund. A Week in Metals: Inflation, an AI Sell-Off and Oil Above US$100: Meanwhile, the week's markets. Start with gold. Kitco reports spot gold began the week at 4,193 dollars and 59 cents an ounce, reached a weekly high of 4,216 dollars and 91 cents on Monday, and fell to a weekly low of 4,073 dollars and 35 cents at noon Wednesday after hot consumer price data. It finished near 4,165 dollars, down 0.58 percent on the week. Greenland Moves to Ban Deep-Sea Mining as a U.S. Seabed Licence Bid Advances: Next, seabed mining, where two governments are heading in opposite directions. The Copenhagen Post, citing Ritzau, reports Greenland's parliament unanimously adopted a resolution on Thursday directing the government to draft legislation for a temporary ban on deep-sea mining. The ban would run through December 31, 2029, with possible extensions in two-year increments. Iron Ore Rebounds from a Two-Year Low as Grange Approves Savage River Underground: Finally, iron ore. Reuters, via Kitco, reports iron ore rebounded on Friday after touching lows of more than two years the day before. The benchmark November contract in Singapore rose 1.11 percent to 90 dollars and 85 cents a tonne as of 0805 GMT, up 0.2 percent on the week. Dalian's most-traded contract closed daytime trade up 0.07 percent at 672.5 yuan, a weekly loss of 1.5 percent. Sources: - Reuters via MarketScreener — Centinela Unions Reach Preliminary Deal, Ending the Strike: https://au.marketscreener.com/news/striking-unions-at-antofagasta-s-centinela-copper-mine-reach-preliminary-deal-ending-strike-ce785cdade8af123 - Reuters via Mining.com.au — Centinela Unions Reach Preliminary Deal, Ending the Strike: https://mining.com.au/no-breakthrough-in-union-talks-at-centinela-copper-mine/ - Shanghai Metals Market (November output) — Centinela Unions Reach Preliminary Deal, Ending the Strike: https://news.metal.com/newscontent/104155269-centinela-strike-could-cut-november-copper-output-by-half-unions-say - Natural Resources Canada — Thompson Nickel Complex Changes Hands as Exiro Closes Deal with Vale Base Metals: https://www.canada.ca/en/natural-resources-canada/news/2026/10/thompson-mine-complex-transaction-closes-helping-secure-a-stronger-future-for-canadian-nickel.html - Vale Base Metals release via AAP — Thompson Nickel Complex Changes Hands as Exiro Closes Deal with Vale Base Metals: https://aapnews.aap.com.au/aapreleases/cision20261016AE73713 - CBC News — Thompson Nickel Complex Changes Hands as Exiro Closes Deal with Vale Base Metals: https://www.cbc.ca/news/canada/manitoba/thompson-nickel-mine-vale-exiro-9.7384748 - Kitco News (weekly gold review) — A Week in Metals: Inflation, an AI Sell-Off and Oil Above US$100: https://www.kitco.com/news/article/2026-10-16/wall-street-undecided-golds-near-term-trajectory-main-street-flirts-bearish - Kitco News (PM report) — A Week in Metals: Inflation, an AI Sell-Off and Oil Above US$100: https://www.kitco.com/news/article/2026-10-16/gold-silver-diverge-fed-pause-expectations-collide-rising-crude-prices - ET Now — A Week in Metals: Inflation, an AI Sell-Off and Oil Above US$100: https://www.etnownews.co