The whole raw-materials family: firms that dig up, process and supply the metals, chemicals, cement and packaging that factories turn into finished goods.
Eldorado Gold Secures Permanent Grid Power at Skouries Mine in Greece
Eldorado Gold Corporation reported that its Skouries mine in northern Greece has been successfully energized after completing and receiving approval for a permanent connection to the Greek national power grid. The connection secures a long-term electricity supply for ongoing processing and mining activities as the project advances toward expected commercial production in the fourth quarter of 2026. The company said the grid link materially reduces a key infrastructure risk for Skouries and clarifies the path toward bringing its planned gold and copper output into Eldorado's broader production mix. The milestone follows the first copper gold concentrate from Skouries on 8 September 2026, confirming that commissioning is already underway while power security is now in place. Eldorado's narrative projects $4.5 billion in revenue and $1.5 billion in earnings by 2029, requiring 30.0% yearly revenue growth and a roughly $0.9 billion earnings increase from $618.1 million today, with a CA$71.91 fair value implying 32% upside to its current price.
Nippon Paint to acquire Akzo's Southeast Asia coatings business for 216 billion yen
Nippon Paint Holdings announced on the 5th that it has agreed to acquire the Southeast Asian architectural coatings business of Dutch paint maker AkzoNobel for 1.35 billion dollars, or about 216 billion yen. The acquisition covers operations in Vietnam, Indonesia, Malaysia and Singapore, and also includes architectural coatings businesses in Thailand, Australia and Papua New Guinea. The company aims to strengthen its competitiveness in Southeast Asia's architectural coatings sector by leveraging Akzo's sales, manufacturing and supply systems as well as its brand strength. The share acquisition and business transfer are expected to be completed in mid-2027, and the impact of the acquisition on its results for the fiscal year ending December 2026 is expected to be minor. In July, Nippon Paint revealed that it had proposed acquiring Akzo's architectural coatings business for a total of 7.5 billion euros, but Akzo, which had already signed a merger agreement with US-based Axalta Coating Systems, indicated it would not accept alternative proposals. Nippon Paint had also previously proposed an acquisition of Akzo jointly with US-based Sherwin-Williams, which Akzo rejected in May, and this time it succeeded in reaching a deal by narrowing its target to Southeast Asia.
4612.JP · Capital · Positive Nippon Paint agreed to acquire AkzoNobel's Southeast Asia architectural coatings business for about 216 billion yen, expanding its footprint.
AKZA.AS · Capital · Positive AkzoNobel agreed to sell its Southeast Asian architectural coatings business to Nippon Paint for $1.35 billion.
NetherlandsJapanVietnamIndonesiaMalaysiaThailandSingaporePapua New Guinea+2
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AkzoNobel to sell Southeast Asia paints business to Nippon Paint for over $1 billion
Dutch paint maker AkzoNobel is nearing an agreement to sell its Southeast Asian architectural coatings business to Nippon Paint Holdings for well over $1 billion, the Financial Times reported, citing people familiar with the matter. A deal could be reached as early as the 5th. The sale would include architectural coatings operations in Vietnam, Indonesia, Malaysia, Thailand and Singapore, as well as Papua New Guinea and Australia. The two companies announced in July that Nippon Paint had submitted multiple proposals to acquire AkzoNobel's architectural coatings business for a total of 7.5 billion euros, but AkzoNobel, which has already signed a merger agreement with US-based Axalta Coating Systems, said it would not accept alternative proposals. According to the Financial Times, Nippon Paint remains interested in a larger deal for the architectural coatings business, but integrating the Southeast Asian operations is expected to take some time, and AkzoNobel has no plans to sell further assets from that business.
4612.JP · Capital · Positive Nippon Paint is acquiring AkzoNobel's Southeast Asia architectural coatings business for over $1 billion, expanding via M&A.
AKZA.AS · Capital · Positive AkzoNobel is selling its Southeast Asian architectural coatings business to Nippon Paint for well over $1 billion, a divestment/M&A event.
Collective Mining Hits High-Grade Tungsten-Gold Zone at Apollo in Colombia
Collective Mining announced assay results from four diamond drill holes at its Guayabales Project in Colombia, including the first intersection of a high-grade tungsten-gold zone in schist outside the southern margin of the Apollo breccia body. The newly identified zone is hosted in a largely untested schist unit extending more than 1,000 meters vertically, introducing a fresh exploration target that could materially influence how investors think about the scale and metal mix of the broader Apollo system. The company also confirmed it remains funded for its 2026 drilling plans. The discovery reinforces Apollo's exploration upside but does not change the near-term focus on resource growth and metallurgical de-risking, nor the central risk that cost outcomes from future engineering work could still disappoint. A recent integrated processing flowsheet for Apollo outlines how gold, silver, copper and tungsten could be recovered through separate dor and concentrate streams, tying metallurgical progress to future cost assumptions and projected net margins.
CNL · Technology · Positive First high-grade tungsten-gold intersection in untested schist at Apollo expands the exploration target and metal mix, reinforcing upside.
Lundin Mining Fair Value Rises to CA$42.54 as Analysts Split on Targets
Lundin Mining's fair value estimate has been raised to CA$42.54 from CA$41.45, with fresh analyst price targets clustering in the low to mid CA$40s. Scotiabank lifted its target to C$44 from C$42 while keeping an Outperform rating, and Barclays moved to C$43 from C$42 with an Equal Weight rating. Morgan Stanley adjusted its target to C$39.90 from C$38.20, maintaining Equal Weight, while TD Securities set a C$42 target, trimmed from C$43, but reiterated a Buy rating. On the bearish side, JPMorgan carries an Underweight rating with a SEK 209 target, revised from SEK 215, and a C$32 target, while Canaccord shifted to Hold from Buy with a C$39 target, adjusted from C$40. The updated fair value model uses revenue growth of 80.08% versus the earlier 70.86%, a net profit margin of 24.63% versus 24.32%, a future P/E of 26.92x versus 27.29x, and a discount rate of 7.93% versus 7.84%.
0RQ9.LSE · Capital · Positive Analysts raised Lundin Mining's fair value estimate to CA$42.54 and clustered price targets in the low-to-mid CA$40s, with several upward revisions.
Aris Mining Completes Soto Norte ESIA, Begins Colombia Community Engagement
Aris Mining has completed the Environmental and Social Impact Assessment for its Soto Norte gold-copper project in Santander, Colombia, and in 2026 began formal community engagement across three municipalities ahead of submitting the ESIA and environmental license application. The company said Soto Norte lies outside the Santurbán Páramo and its buffer zone, and it aligned the ESIA and consultation process with Colombia's regulatory framework and the Escazú Agreement. The milestone follows the ANM's July 29, 2026 approval of the modified technical mine plan for Soto Norte, which confirmed regulators have reviewed the project's geology, reserves and mine design but does not replace the need for an environmental license before construction or mining can begin. Aris Mining's narrative projects $2.2 billion revenue and $688.8 million earnings by 2029, requiring 19.9% yearly revenue growth and a $404.1 million earnings increase from $284.7 million today, with a CA$41.53 fair value implying 66% upside. Some of the lowest estimate analysts had assumed about US$2.0 billion of revenue and US$797.7 million of earnings by 2029 while still citing Soto Norte's lengthy permitting and heavy ESG commitments as reasons for caution.
ARIS · Regulation · Positive Aris Mining completed the Soto Norte ESIA and began formal community engagement, advancing the project toward the required environmental license under Colombia's regulatory framework.
Endeavour Silver's Guanacevi Mill Offline About Three Weeks After Mechanical Fault
Endeavour Silver has reported a mechanical problem with the primary ball mill at its Guanacevi Mine, with the unit expected to remain offline for roughly three weeks while repairs proceed. Processing capacity is temporarily reduced, with the regrind circuit running at about 600 tonnes per day against ordinary throughput of roughly 1,100 tonnes per day, though mining activity on site continues. The disruption has weighed on the shares, which are down 20.45% over the past 30 days and 7.83% over the past week, even as the 1-year total shareholder return stands at 13.95% and the 3-year total shareholder return is approximately three times the initial value. Endeavour Silver last closed at CA$12.25, while the most followed narrative anchors on a fair value of CA$19.30 using an 8.1% discount rate, a gap that frames the stock as 37% undervalued. That bullish case rests on the Terronera mine nearing commercial production, optimization of recoveries on track, and potential expansion of the Kolpa mine to 2,500 tonnes per day in 2026, but it also leans heavily on Terronera ramping smoothly and on Guanacevi avoiding further mechanical setbacks. A contrasting view comes from the current P/E, with Endeavour Silver trading on 38.7x earnings versus a Canadian Metals and Mining average of 15.5x and an estimated fair ratio of 18.9x.
Endeavour Mining Posts Record US$1.16 Billion Free Cash Flow, Returns US$301 Million
Endeavour Mining generated record free cash flow of about US$1.16 billion in fiscal 2025 and US$761 million in the first half of 2026, allowing it to maintain a net cash balance sheet. Those cash flows funded a record US$301 million returned to shareholders in the first half of 2026, including an interim dividend of roughly US$0.95 per share. The company's Assafou definitive feasibility study outlines a large, relatively low cost project in Côte d'Ivoire with a 16 year mine life, and the key question is whether future Assafou capex and any changes to Ivorian royalties or taxes could dilute the current dividend and buyback story. Endeavour's narrative projects US$6.2 billion in revenue and US$1.9 billion in earnings by 2029, yielding a CA$95.74 fair value and 18% upside to its current price, while some analysts had assumed revenue of about US$7.6 billion and earnings of roughly US$2.6 billion by 2029. Heightened West African royalty and tax discussions remain a risk to how much of the cash windfall reaches shareholders.
B2Gold Reports Positive 2026 Back River Drilling Results and New Tattuk Zone
B2Gold Corp. reported positive results from its 2026 Back River Gold District exploration program in Nunavut, Canada, backed by a US$51 million budget and more than 35,000 m of drilling focused on infill, resource definition, and regional target generation. The program confirmed high-grade mineralization at the Llama deposit and yielded the new Tattuk discovery at Goose, which the company says underscores the district's potential to contribute materially to future mine planning and resource growth options. The update mainly reinforces the Goose Mine resource story rather than changing the key near-term catalyst, which remains Goose ramp-up, or the biggest current risk, which is still cost and execution pressure at Goose and in higher-risk jurisdictions like Mali. The quality and convertibility of new ounces at Llama, Nuvuyak and Tattuk will influence whether Goose can offset permitting and cost risks tied to projects such as Fekola regional and Gramalote. B2Gold's narrative projects $3.7 billion revenue and $1.8 billion earnings by 2028, with a CA$8.60 fair value implying 16% upside to its current price, while some of the lowest analysts assume revenue growth of only about 5.4 percent a year and US$1.4 billion of earnings by 2029.
BTG · Technology · Positive Positive 2026 Back River drilling results confirmed high-grade mineralization at Llama and yielded the new Tattuk discovery at Goose, supporting resource growth.
BHP Unit Wins El Seguro Copper Exploration Contract in Argentina
Impulsa Mendoza has awarded Public Tender No. 2/2026 to Cerro Quebrado S.A., a BHP Group company, granting it an exploration contract with a purchase option for the El Seguro copper project in Argentina's Malargüe Western Mining District. The award gives BHP a second route into the district alongside its alliance with Kobrea Exploration, deepening its copper exploration exposure in a single emerging Andean jurisdiction. The contract sits alongside BHP's recent production and guidance updates, in which copper output in FY2026 fell 3% year on year to 1,952.8 kt and 2027 copper guidance was set below 2026 levels. BHP's narrative projects $56.1 billion in revenue and $13.3 billion in earnings by 2029, with a fair value of A$61.02, while some of the lowest ranked analysts assumed revenue would fall to about US$52.5 billion by 2029 even as earnings rose to roughly US$11.7 billion.
BHP.LSE · Supply · Positive BHP's Cerro Quebrado unit won the El Seguro copper exploration contract with a purchase option, expanding its copper resource base in Argentina
Cerro Quebrado S.A. · Supply · Positive Cerro Quebrado S.A., a BHP company, was awarded the El Seguro copper exploration contract with a purchase option
COPPER · Supply · Positive BHP's new copper exploration contract in Argentina signals potential future copper supply growth
Onsemi announced a new agreement to acquire Synaptics for $123 a share in cash, revising the all-stock deal disclosed in June after an unsolicited competing proposal. Advanced Micro Devices said it would acquire World Labs, an AI model and research lab, in an all-stock transaction valued at nearly $8.2 billion. Hormel Foods agreed to acquire Brakebush Brothers, a value-added chicken provider, from the Brakebush family for approximately $1.055B, with the deal expected to close in the first quarter of fiscal 2027. Lynas Rare Earths agreed to acquire Australian peer Meteoric Resources in an all-stock deal valued at A$968M, or $672M. Mattel soared 19% after a report that the toymaker has recently received takeover interest from Authentic Brands, while Walgreens private-equity owner Sycamore is near a deal to sell the U.K. pharmacy chain Boots for close to $9 billion, including debt.
Torex Gold Reports High-Grade San Miguel Feeder Zone at Morelos
Torex Gold Resources Inc. reported strong drilling and exploration results across the Morelos Property, including the San Miguel corridor, Media Luna, ELG Underground, and regional targets such as Atzcala and El Naranjo. A particularly important development is evidence of a vertically continuous, high-grade mineralized feeder zone along the San Miguel fault, which could meaningfully influence how Torex sequences and optimizes future production at Media Luna and surrounding areas. The company reaffirmed 2026 production guidance of 420,000 to 470,000 ounces AuEq, a target that stronger grades at Media Luna and ELG Underground, combined with the emerging high-grade potential along the San Miguel corridor, could help support. Torex's narrative projects $2.2 billion revenue and $713.1 million earnings by 2029, requiring 6.4% yearly revenue growth and about a $110.6 million earnings increase from $602.5 million today. Three Simply Wall St Community fair value estimates for Torex range from CA$71.40 to CA$92.82, against a CA$92.36 fair value estimate implying 33% upside to the current price.
0VL5.LSE · Technology · Positive High-grade San Miguel feeder zone drilling results could improve production sequencing and support 2026 guidance at Morelos
Aris Mining Completes Environmental Assessment for Soto Norte Project
Aris Mining has cleared a key permitting hurdle for its Soto Norte gold copper project in Colombia by completing its Environmental and Social Impact Assessment and beginning formal community engagement ahead of an environmental licence application. The milestone follows earlier approvals on the mine plan and clarifications to Colombian regulatory protections. The company's shares have returned 15.19% year to date and posted a very large 3 year total shareholder return, though the 30 day share price return has eased 8.37%. Analysts see a narrative fair value of CA$41.53 against a last close of CA$24.95, with the gap linked to project build out and operating scale. The ongoing expansion at the Segovia operations, with the new second ball mill increasing processing capacity by 50% and a targeted production ramp up to 300,000 ounces in 2026, is described as a driver of sustained revenue growth and structurally higher operating margins.
ARIS · Regulation · Positive Aris Mining completed the Environmental and Social Impact Assessment and began community engagement, clearing a key permitting hurdle for the Soto Norte gold-copper project.
GOLD · Supply · Positive Progress toward permitting and build-out of Aris Mining's Soto Norte gold-copper project signals potential future gold supply from the mine.
Guangda Special Materials Earnings Call Addresses Employee Stock Ownership and AI Applications
Guangda Special Materials held its 2026 semi-annual earnings briefing online on September 30, responding to questions about artificial intelligence applications, the employee stock ownership plan, product expansion, and raw material price fluctuations. The company's 2026 semi-annual report shows operating revenue of 2.323 billion yuan, down 8.36 percent year on year; net profit attributable to the parent company of 12.34 million yuan, down 93.33 percent; non-GAAP net profit attributable to the parent company of 11.32 million yuan, down 93.67 percent; net operating cash flow of negative 231 million yuan; and a main business gross margin of 13.37 percent, down 7.31 percentage points from the same period last year, mainly affected by reduced new installed capacity in the downstream wind power industry. Regarding the progress of the employee stock ownership plan that investors are concerned about, the company responded that within six months after approval by the shareholders' meeting, the management committee of the employee stock ownership plan will complete the purchase of underlying shares through methods such as buying the company's A-shares on the secondary market, and the company will complete the position building gradually during the building period based on market conditions. On artificial intelligence, the company said the relevant applications are still in the evaluation and testing stage, have not formed large-scale applications, and have no material impact on company performance. In terms of product expansion, the company has passed the international aerospace quality management system certification AS9100D, and its production technology for high-purity superalloy electroslag ingots has been applied in fields such as aircraft engines and gas turbines. Homogeneous fine-grained superalloy forgings have been supplied in batches to aircraft engines, rocket engines, and gas turbines. The aerospace superalloy UNS N07041 has achieved batch supply, and the company has carried out cooperation with relevant customers in the aerospace field and achieved batch supply.
Valterra Platinum Fair Value Raised to ZAR 1,373.14 as Analysts Split
Simply Wall St's updated fair value estimate for Valterra Platinum has moved from ZAR 1,344.81 to ZAR 1,373.14, with the revision accompanied by split analyst commentary on the stock. On the bullish side, Berenberg keeps a Buy rating with a 7,500 GBp price target, RBC Capital maintains an Outperform rating with a 7,200 GBp target, and Jefferies starts coverage with a Hold rating and a ZAR 1,250 target, citing expectations for improving fundamentals and higher EBITDA while waiting for a better entry point. On the bearish side, Barclays cuts Valterra Platinum to Underweight from Equal Weight with a ZAR 1,260 target, pointing to valuation and limited upside to current volume guidance, while JPMorgan keeps an Underweight rating even after lifting its target to US$67. The model update also shows the projected ZAR revenue decline moderating from 4.92% to about 4.13%, the expected net profit margin easing from 20.56% to about 19.70%, the future P/E multiple shifting from 21.4x to about 22.4x, and the discount rate edging higher from 18.73% to about 18.84%.
VALT.LSE · Capital · Neutral Analysts are split on Valterra Platinum as its fair value estimate was raised to ZAR 1,373.14 amid mixed ratings and targets.
BARC.LSE · Capital · Neutral Barclays cuts Valterra Platinum to Underweight from Equal Weight with a ZAR 1,260 target.
JEF · Capital · Neutral Jefferies starts coverage on Valterra Platinum with a Hold rating and ZAR 1,250 target, an analyst action on the stock.
JPM · Capital · Neutral JPMorgan keeps an Underweight rating on Valterra Platinum while lifting its target to US$67.
RY · Capital · Neutral RBC Capital maintains an Outperform rating with a 7,200 GBp target on Valterra Platinum.
B2Gold Goose Mine Crushing Upgrades Target 4,000 Tons Per Day by 2027
B2Gold Corp. said its newly commissioned mobile crushing plant at the Goose mine has averaged more than 3,000 tons of ore throughput per day since mid-August, in line with plan. The company is now proceeding with Phase 1 upgrades to the fixed crushing plant, adding a run-of-mine mass-flow bin and apron feeder, a new larger jaw crusher and a rock breaker, which is expected to reach a sustained average of 3,200 tons per day; the additional crushing plant cost around $16 million and the Phase 1 upgrades are expected to cost $11 million. A Phase 2 upgrade to the fixed crushing plant is scheduled for the first half of 2027 and is expected to lift average crushing capacity to a design throughput of 4,000 tons per day. The Goose mine remains on track for 2026 annual production guidance of 170,000-200,000 ounces, with third-quarter production expected in line with the first quarter and fourth-quarter 2026 production expected to be the strongest of the year. B2Gold also reported positive results from its Back River Gold District exploration drilling program, which has a 2026 budget of $51 million, more than half allocated to the Goose Mine to infill Inferred Mineral Resources at the Llama deposit and Nuvuyak zone, and has completed 27,493 meters of drilling as of August-end toward a plan to drill more than 35,000 meters in 2026.
Freeport Reports Q3 2026 Copper Production of 830 Million Pounds, In Line With Expectations
Freeport reported third-quarter 2026 consolidated copper production of approximately 830 million pounds, in line with expectations, with slightly better international results offsetting slightly lower U.S. output. Consolidated gold production of approximately 230 thousand ounces also approximated expectations, but timing changes at PT Freeport Indonesia deferred roughly 60 thousand ounces of refined gold from the third quarter into the fourth quarter. As a result, Freeport expects third-quarter consolidated copper sales to approximate its July 2026 estimate of 750 million pounds, while gold sales are expected to approximate 100 thousand ounces, below the July estimate. Consolidated unit net cash costs are now expected to come in about 5% above the July 2026 estimate of $2.00 per pound of copper, mainly on lower by-product credits from the deferred gold sales, and the company estimates its third-quarter consolidated average realized price will exceed $6.50 per pound of copper. At the Grasberg minerals district, mill throughput averaged approximately 140,000 metric tons of ore per day, about 67% of normalized rates prior to the September 2025 incident, and PTFI's smelter in Eastern Java re-commenced operations in late August 2026, with Freeport still targeting 80% of capacity in mid-2027 and near full capacity by year-end 2027.
FCX · Supply · Negative Q3 copper/gold output in line but gold sales deferred and unit cash costs ~5% above July estimate on lower by-product credits, with Grasberg throughput only ~67% of normalized rates.
GOLD · Supply · Negative Timing changes at PT Freeport Indonesia deferred roughly 60 thousand ounces of refined gold from Q3 into Q4, cutting Q3 gold sales to ~100 thousand ounces.
COPPER · Supply · Neutral Freeport's Q3 copper production of 830 million pounds was in line with expectations, with slightly better international results offsetting lower U.S. output.
Westlake has shut its Cologne PVC facility in Germany, citing weak European demand, high energy costs and rising import competition from Asia. The closure is part of a broader reshaping of Westlake's chlorovinyls footprint in Europe, in which the company is acquiring the 380,000 metric ton Wilhelmshaven PVC and VCM plant with deepwater port access, concentrating production in lower cost, logistically advantaged assets expected to support future PEM sales and margins once the new capacity is fully integrated. Westlake's share price stands at US$62.47, with a 1-month share price return down 15.8%, a year-to-date share price return down 15.8%, and a 3-year total shareholder return down 46.0%. A widely followed narrative values Westlake at a fair value of $92.31, implying the stock is 32% undervalued, while a Simply Wall St discounted cash flow model estimates a future cash flow value of US$49.31, reading the shares as overvalued. The narrative could crack if global chemical oversupply keeps pressuring Performance and Essential Materials pricing, or if higher North American feedstock costs compress Westlake margins again.
WLK · Capital · Positive Westlake is acquiring the 380,000 t Wilhelmshaven PVC/VCM plant with deepwater port access to concentrate production in lower-cost assets.
WLK · Supply · Negative Westlake shut its Cologne PVC plant, cutting capacity amid weak European demand, high energy costs and Asian import competition.
DuPont Launches Sugar Separation Advisor Digital Tool
DuPont de Nemours has launched the DuPont Sugar Separation Advisor, an interactive digital tool that helps sugar and sweetener manufacturers evaluate chromatographic separation opportunities and identify suitable DuPont AmberLite resins for further testing. The tool builds on decades of chromatography application expertise and years of experimental separation data, letting users select a target sugar or sweetener, add up to four additional sugars or impurities to represent their feed stream, and generate a predicted chromatogram that yields a qualitative separation assessment and candidate AmberLite resin suggestions. DuPont developed the platform in response to recurring customer questions involving sugars and sweeteners such as allulose, tagatose, sorbitol, oligosaccharides, xylose and inositol, and it could support applications ranging from high-fructose corn syrup and beet sugar processing to rare sugars, oligosaccharides, polysaccharides and sugar alcohols. The launch expands access to DuPont's chromatography expertise as the company focuses on innovation, productivity and growth across healthcare, water and industrial markets. In August, DuPont raised the midpoint of its full-year 2026 operating EBITDA and adjusted earnings guidance after second-quarter outperformance, now expecting net sales of $7.16-$7.19 billion, operating EBITDA of $1.75-$1.77 billion and adjusted earnings of $7.17-$7.32 per share.
DD · Technology · Positive DuPont launched the Sugar Separation Advisor digital tool, expanding its chromatography product/tech offering for sugar and sweetener manufacturers
SCGP to issue 3-year 11-month bonds at 2.50% interest, subscription opens November 2026
SCG Packaging Public Company Limited, or SCGP, has filed a draft registration statement with the Securities and Exchange Commission to prepare the issuance and offering of unsubordinated, unsecured bonds with a maturity of 3 years and 11 months, at an interest rate of 2.50% per year, with interest paid every 3 months, offered to the general public. The first subscription period runs from November 11 to 13, 2026, for general retail investors who hold bonds of SCG Packaging Public Company Limited issued under the 2/2022 series maturing in 2026, or SCGP26DA. The second period runs from November 26 to 27 and on November 30, 2026, for general retail investors as well as holders of SCGP26DA bonds. On Saturday, November 28 and Sunday, November 29, 2026, subscriptions will be open only through the online systems of certain bond underwriters. The bond underwriters are Bangkok Bank, Krungthai Bank, Bank of Ayudhya, and Siam Commercial Bank, with Bank of Ayudhya Public Company Limited acting as the bondholders' representative. The company's and the bonds' credit rating stands at A(tha), assigned by Fitch Ratings (Thailand) Limited on February 16, 2026. The company intends to use the proceeds from this bond offering to repay debt from its issuance of debt instruments.
Methanex to Redeem US$300 Million of 5.125% Senior Notes Due 2027
Methanex has announced a partial redemption of US$300 million of its 5.125% senior notes due October 15, 2027, with the redemption scheduled for October 19, 2026. The move puts a fresh spotlight on the company's balance sheet, and Methanex plans to reduce leverage significantly by repaying $550 million to $600 million in debt over the next 18 months, which is expected to improve net margins and increase financial stability. The strategic OCI acquisition is expected to expand Methanex's capacity and market reach while generating synergies and contributing to higher earnings and efficiency in financial operations. The shares have climbed strongly, with a 90 day share price return of 27.81% and a year to date share price return of 48.63%, while the 1 year total shareholder return of 54.63% points to solid longer term momentum, even as short term moves have softened slightly around the partial debt redemption news. At a last close of CA$83.19 versus a narrative fair value of CA$91.07, Methanex screens as modestly undervalued, though at a P/E of 51.2x the stock is priced far above both the North American Chemicals industry on 21.5x and a fair ratio of 21.1x.
MEOH · Capital · Positive Methanex is redeeming US$300M of 5.125% senior notes and plans to repay $550-600M of debt over 18 months, reducing leverage and improving net margins.
UTP announces temporary suspension of raw material deliveries and production due to flooding at Prachin Buri plant
United Paper Public Company Limited, or UTP, announced through the Stock Exchange of Thailand that, due to flooding in Prachin Buri province, where the company's production plant is located, the company has found it necessary to temporarily suspend the receipt and delivery of raw materials and its production processes. The company is closely monitoring the situation and has added supplementary measures to address and prevent potential impacts, and will report further progress in due course.
UTP reports flooding at Prachin Buri plant, temporarily halts raw material deliveries and production
United Paper Public Company Limited, or UTP, announced that it has temporarily suspended the receipt and delivery of raw materials and its production processes due to the impact of flooding in Prachin Buri province, where the company's production plant is located. Managing Director Watchara Chinsetthawong said the company has been closely monitoring the situation and has added supplementary measures for remediation and prevention, and will report further progress in due course.
NER expects rising rubber prices to lift 2026 revenue to 30 billion baht
North East Rubber Public Company Limited, or NER, is confident that revenue in 2026 will reach 30 billion baht, in line with its target, driven by higher natural rubber prices and tight global natural rubber supply caused by weather impacts. Chuwit Jungtanasomboon, Chief Executive Officer of NER, said demand for rubber from major tire makers in the Chinese and Indian markets and other key automobile-producing countries continues to have momentum. Growth in the automotive and electric vehicle, or EV, industries, along with the European Union's EUDR environmental regulations, are factors supporting natural rubber demand over the long term. The company estimates that in the third quarter of 2026, higher average selling prices will help support revenue, even though sales volume will be affected by raw material tightness. It will manage production across its plants in line with available raw material volumes, and will continue to monitor rubber price trends in the final stretch of 2026. If supply remains tight and demand from the tire industry keeps its momentum, there is an opportunity to further support NER's selling prices and business.
Trinity expects TEGH's 2026 profit to reach 560 million baht on high rubber and palm prices
Trinity Securities estimates that Thai Eastern Group Holdings, or TEGH, still has continued supporting factors in the second half of 2026, maintaining its net profit forecast for 2026 at 560 million baht, up 5% from the previous year. In the rubber business, which is the most prominent factor, Trinity expects rubber sales volume in the third quarter of 2026 at approximately 60,000-70,000 tonnes, flat from the second quarter of 2026 but growing strongly compared with the same period last year. Meanwhile, block rubber selling prices are expected to rise to approximately 75-80 baht per kilogram, from an average selling price of about 70 baht per kilogram in the second quarter of 2026, supported by demand for block rubber in the Indian market after the Indian government announced an exemption on rubber import taxes, lower rubber output due to El Nino conditions, and higher crude oil prices, which pushed synthetic rubber prices up. For the crude palm oil business, Trinity estimates that sales volume in the third quarter of 2026 may slow seasonally, but prices still have supporting factors from demand for palm oil to increase the biodiesel blending ratio, and it expects sales volume to recover in the fourth quarter of 2026. The company itself is pressing ahead with increasing the share of EUDR-standard rubber products after the direction of the European Union's regulatory enforcement became clearer, as well as improving the efficiency of its palm business by repairing machinery and installing additional boilers and sterilizers, which is expected to help increase crude palm oil production capacity by about 50% within this year. As for the phase 2 biogas production capacity expansion project, it is under review of technology and budget, with the completion date adjusted to the second quarter of 2027.
TEGH.BK · Demand · Positive Trinity forecasts TEGH's 2026 net profit at 560 million baht, driven by strong block rubber demand from India's import-tax exemption and higher rubber/palm prices.
RUBBER · Demand · Positive Block rubber prices are expected to rise to 75-80 baht/kg on Indian demand after India's rubber import-tax exemption and lower output from El Nino.
MWCC awarded 47 million yen subsidy under NEDO support program
MWCC, which provides solutions built on its microwave chemical technology platform, announced that its research and development theme has been selected as a prospective implementation site under the New Energy Small and Medium Enterprises and Startup Support Program of the New Energy and Industrial Technology Development Organization (NEDO), and that it has received notice from NEDO of a decision to grant a subsidy of 47 million yen. The company changed its name from Microwave Chemical on October 1, 2026.
Algoma Steel Guides for 65% Drop in Q3 Shipments After Turbine Outage
Algoma Steel warned it expects Q3 steel shipments of roughly 145K tons, down from more than 419K tons a year earlier, after a turbine outage at its Lake Superior Power generating facility in Ontario constrained production. The Canadian producer guided for adjusted EBITDA of negative $10M to negative $20M, a figure that includes a $50M-$55M benefit from an expected capacity utilization adjustment. The turbine has since been replaced and is operating at full power, the company said. CFO Michael Moraca said the outage temporarily constrained electric arc furnace production and was expected to affect shipment volumes, adding that third-quarter results reflect those impacts, including lower shipment volumes and a less favorable sales mix. Shares fell 2.4% post-market Thursday following the guidance.
ASTL · Supply · Negative Turbine outage at its Lake Superior Power facility constrained electric arc furnace production, cutting Q3 shipments to ~145K tons from 419K and guiding to negative EBITDA.
Erste Group Proposes PLN 19.0b Tender Offer for 26% of Erste Bank Polska
Erste Group Bank AG has proposed a voluntary tender offer to acquire an additional 26% stake in Erste Bank Polska for PLN 19.0b at approximately PLN 713 per share. If completed, the tender offer would increase Erste Group Bank AG's holding in Erste Bank Polska from 49% to as much as 75%, raising its exposure to the Polish market once all offer conditions are met. The proposed acquisition is planned to be funded entirely from Erste Group Bank AG's internal resources, with a targeted post offer CET1 ratio of more than 14.25%. The offer is subject to minimum acceptance, free float conditions and regulatory approval from the Polish Financial Supervision Authority, with launch expected at the start of November 2026 and completion targeted for December 2026. Analyst price targets on the stock include Citi's Buy rating with a PLN 845 target and Goldman Sachs' Neutral stance with a target lifted to PLN 750, while Simply Wall St's fair value estimate for Erste Bank Polska now stands at PLN 720.34, compared with PLN 687.74 previously.
EBO.XETRA · Capital · Positive Erste Group proposes a PLN 19.0b tender offer to raise its Erste Bank Polska stake from 49% to 75%, funded from internal resources with a targeted CET1 above 14.25%.
BofA Raises Copper Forecast 20% to $12,000, Names Top Mining Picks
BofA Securities raised its long-term copper price forecast by 20% to $12,000 per ton for 2026 and updated its mining sector rankings, upgrading BHP to Buy with a price objective of A$68 and naming the world's largest copper producer its top pick among large-cap mining stocks. Glencore was rated Buy with a price objective of GBp650, with BofA highlighting its copper growth options and monitoring a potential Australian listing for the diversified miner. Norsk Hydro received a Buy rating with a price objective of NOK98, which BofA described as offering interesting risk-reward characteristics for the pure-play aluminum company. Antofagasta maintained its Buy rating with a price objective of GBp4700, with the bank noting roughly 30% volume growth potential. BofA also trimmed its 2027 aluminum forecast by 5% to $3,625 per ton, and cautioned that investors should be prepared for potential drawdowns of 10% to 20%, noting that during China's super cycle from 2002 to 2008 markets experienced multiple corrections despite overall upward trends.
BHP.LSE · Capital · Positive BofA upgraded BHP to Buy with an A$68 price objective and named it top pick among large-cap miners.
0Q11.LSE · Capital · Positive BofA initiated a Buy rating on Norsk Hydro with a NOK98 price objective, citing attractive risk-reward for the pure-play aluminum company.
ANTO.LSE · Capital · Positive BofA maintained its Buy rating on Antofagasta with a GBp4700 price objective, noting roughly 30% volume growth potential.
GLEN.LSE · Capital · Positive BofA rated Glencore Buy with a GBp650 price objective, highlighting its copper growth options.
Greenland Mines Ltd announced the successful completion of its more than two-month 2026 field program at the Skaergaard Project in southeast Greenland, a campaign the company describes as one of the largest and most comprehensive modern multidisciplinary efforts undertaken at the site. The program completed 4,480 meters of diamond drilling across 17 holes, including the first large-diameter HQ core ever recovered at Skaergaard, and extracted more than 105 tons of bulk material from mapped and channel-sampled gold and palladium-platinum mineralized horizons, an unprecedented scale-up from the two approximately 800-kilogram historical mini-bulk samples. The company's July 2026 S-K 1300 Mineral Resource Estimate reported 15.00 million ounces PdEq in Indicated Mineral Resources and 17.49 million ounces PdEq in Inferred Mineral Resources, covering only approximately one-quarter to one-third of the intrusion hosting the defined precious-metal horizons. Greenland Mines said potential vanadium-bearing titanomagnetite, iron and gallium value streams are being evaluated alongside the palladium-platinum-gold flowsheet, with gallium occurring throughout Skaergaard's mineralized horizons, though no economic credit is currently assigned to these potential by-products. The campaign also delivered the first integrated mining-oriented geotechnical, structural, LiDAR, high-resolution aeromagnetic, ground-penetrating radar and environmental baseline programs across priority development areas, with the data intended to advance Skaergaard toward metallurgical flowsheet development, mine planning and an Initial Assessment, the S-K 1300 equivalent of a Preliminary Economic Assessment.
Liberty Gold Receives Final US$2.6 Million TV Tower Payment, Completing US$8.5 Million Sale
Liberty Gold Corp. has received the final staged payment of US$2.6 million from the previously announced sale of its 72.1% interest in the TV Tower copper-gold project in Biga Province, northwest Türkiye, completing the total US$8.5 million consideration payable under the transaction. The company said the sale converted a non-core asset into non-dilutive capital, allowing it to keep its focus on advancing the Black Pine Oxide Gold Project in southeastern Idaho. Since the sale was announced in 2024, Liberty Gold has completed a feasibility study for Black Pine and is advancing the project through formal mine permitting, with Black Pine designated a Covered Project under the U.S. federal FAST-41 program. President and CEO Jon Gilligan said the final payment completes the monetization of a non-core asset and adds US$2.6 million to the treasury, and that engineering, permitting and financing work is advancing to support a disciplined construction decision.
0V46.LSE · Capital · Positive Received final US$2.6M payment completing the US$8.5M TV Tower sale, converting a non-core asset into non-dilutive capital for Black Pine.
KB Securities Taps Hanwha Solutions, DL Holdings as Top Solar Picks
KB Securities analyst Wooje Chun named Hanwha Solutions and DL Holdings as top solar stock picks, arguing that surging electricity prices more than offset higher module costs and interest rates. Module prices are expected to climb from $0.30-0.33 per watt to $0.38-0.437 per watt, a 32% increase, but because modules account for only 31% of costs for utility-scale systems and 11% for residential installations, the overall impact on total investment costs stays modest at 3-10%. The U.S. 10-year Treasury yield rose from 4.42% in the second quarter of 2026 to 5.24% as of September 28, while three-year PJM power futures jumped to $89.5 per megawatt-hour on September 28, up 37% year-over-year and 20% from the second quarter of 2026, with MISO up 14% and ISO-NE up 15%. KB Securities calculates that a 14% rise in power purchase agreement prices would lift revenue by $36.1 million for a typical 100-megawatt utility-scale solar plant, while higher interest rates would add only $3.3 million in interest expense, and even a 16% increase in total investment costs would be offset by a 5.6% hike in PPA prices. Hanwha Solutions is favored for its EPC and third-party ownership businesses and its module business, which produces 80% of its output in the United States, while DL Holdings benefits from two U.S. gas-fired power plants in the PJM market totaling 2.1 gigawatts, held at 25% and 30% ownership stakes, as power purchase prices rise without matching increases in Henry Hub natural gas prices.
009830.KO · Capital · Positive KB Securities named Hanwha Solutions a top solar pick, favoring its EPC, third-party ownership, and U.S.-based module businesses.
000210.KO · Capital · Positive KB Securities named DL Holdings a top solar pick, citing its PJM gas-fired power plants benefiting from rising power prices.
US-10Y.GB · Monetary · Negative Article notes the U.S. 10-year Treasury yield rose from 4.42% to 5.24%, a rise in the yield itself (bond price falls).
Clariant to Receive CHF ~220 m as Wendel-Henkel Stahl Deal Closes
Clariant has acknowledged the closing of the Stahl transaction between Wendel SE and Henkel, a deal that triggers its contractual obligation to sell its minority stake. Clariant held a minority stake of 14.6 % in Stahl Group, and its participation in the closing results in a preliminary cash proceed of CHF ~ 220 m pre-tax. The company said the existing shareholder agreement included a contractual obligation for Clariant as minority shareholder to participate in the transaction following notification from Wendel SE. The announcement was made in Muttenz on 01 October 2026.
CLN.SW · Capital · Positive Closing of the Wendel-Henkel Stahl deal triggers Clariant's contractual sale of its 14.6% stake for ~CHF 220 m pre-tax cash
Stahl Group · Capital · Neutral Stahl Group is the asset being acquired by Henkel from Wendel, but the article gives no standalone impact for Stahl
MF.PA · Capital · Neutral Wendel is the seller in the Stahl deal whose closing triggers Clariant's stake sale, but no terms or impact for Wendel are given
HEN.XETRA · Capital · Neutral Henkel is the acquirer in the Stahl transaction, but the article gives no detail on terms or impact for Henkel
Newmont's Positive Earnings ESP Points to Another Beat on October 22, 2026
Newmont Corporation, the gold and copper miner in the Zacks Mining - Gold industry, holds a positive Earnings ESP of +6.16% ahead of its next quarterly report, scheduled for release on October 22, 2026. The company has topped estimates by 21.27% on average over the last two quarters, including a 2.44% surprise in the last reported quarter with earnings of $2.1 per share versus the Zacks Consensus Estimate of $2.05 per share, and a 40.10% surprise in the prior quarter with earnings of $2.9 per share against an expected $2.07 per share. The positive Earnings ESP, combined with a Zacks Rank #3 (Hold), suggests another beat is possibly around the corner, as Zacks research shows stocks with this combination produce a positive surprise nearly 70% of the time. Investors should note that a negative Earnings ESP reading is not indicative of an earnings miss, but it does reduce the predictive power of the metric.
Southern Copper Carries Positive Earnings ESP Ahead of Next Report
Southern Copper is positioned for another earnings beat when it reports next, according to Zacks Investment Research. The miner has topped estimates in each of its last two quarters, with an average surprise of 5.25%. In the most recent quarter it posted earnings of $2.01 per share against a Zacks Consensus Estimate of $1.97, a surprise of 2.03%, after delivering $1.92 per share versus an expected $1.77 in the prior quarter, a surprise of 8.47%. Southern Copper currently has an Earnings ESP of +8.00% and a Zacks Rank #3 (Hold), a combination that Zacks research shows produces a positive surprise nearly 70% of the time.
SCCO · Capital · Positive Zacks flags Southern Copper with a positive Earnings ESP of +8.00% ahead of its next report, pointing to another earnings beat.
Zacks Investment Research, Inc. · Capital · Neutral Zacks is the research firm issuing the positive Earnings ESP and Rank #3 (Hold) call on Southern Copper, but the article is about the miner, not Zacks itself.
Agnico Eagle Mines Eyes Another Earnings Beat With Positive ESP
Agnico Eagle Mines is positioned to potentially beat earnings estimates again when it reports on October 28, 2026, according to Zacks Investment Research. The gold mining company has topped estimates in each of its last two reports, with an average surprise of 6.06% over that span. In the most recent quarter, Agnico posted earnings of $3.05 per share against the Zacks Consensus Estimate of $2.89 per share, a surprise of 5.54%, while the prior quarter delivered earnings of $3.4 per share versus an expected $3.19 per share, a surprise of 6.58%. The company currently carries a Zacks Earnings ESP of +6.05% alongside a Zacks Rank #3 (Hold), a combination that Zacks research shows produces a positive surprise nearly 70% of the time. Agnico Eagle Mines belongs to the Zacks Mining - Gold industry.
American Vanguard names Matt Horwath as CFO in planned leadership transition
American Vanguard announced on October 1, 2026 that Matt Horwath will join the company as Chief Financial Officer effective October 1, 2026, succeeding David Johnson as part of a planned leadership transition. David Johnson will remain with the company as Chief Accounting Officer through March 2027 and will continue in a non-executive role until September 2027. Horwath joins American Vanguard with nearly 20 years of finance, accounting and public company leadership experience, most recently serving as Chief Financial Officer of Kustom US, Inc.
Hawkins Completes Eagle Labs Buyout, Expands Texas Water Treatment
Hawkins, Inc. has completed the acquisition of the assets of Eagle Labs, Inc., expanding its Water Treatment business into the Dallas–Fort Worth region of Texas. Eagle Labs distributes water treatment products directly to customers in Texas and has in-house manufacturing capabilities. The acquisition adds two locations in the Dallas–Fort Worth area, increasing Hawkins' total Water Treatment facilities in Texas to seven; Hawkins first entered the Texas market in fiscal 2022. According to Hawkins, Eagle Labs brings expertise in coagulants and polymers, along with a customer service model that complements Hawkins' existing Water Treatment operations in the state, and has served North Texas and surrounding areas for more than 30 years. Hawkins has also opened a new facility in the Dallas–Fort Worth area, which the company expects, together with the acquired Eagle Labs operations, to strengthen its ability to serve water treatment demand across the region.
HWKN · Capital · Positive Hawkins completed the acquisition of Eagle Labs assets, expanding its Water Treatment business into the Dallas–Fort Worth region
Eagle Labs, Inc. · Capital · Positive Eagle Labs' assets were acquired by Hawkins, with its coagulants/polymers expertise and North Texas operations being integrated
Vicor, Inogen, Alphabet Rise; Corteva Drops 64% on Vylor Spinoff
Vicor, Inogen and Alphabet were among Thursday's biggest stock gainers, while Corteva led decliners. Vicor shares jumped 10% after the company raised its Q3 sequential growth guidance to more than 30% from its previous outlook of more than 20%, reflecting increased royalties from its first non-exclusive license for vertical power delivery technology. Inogen shares surged 8% after the company agreed to divest its U.S. oxygen rental business to Rotech Healthcare for total estimated cash consideration of up to $25M, a deal expected to close in Q4 2026, alongside a long-term supply agreement with Rotech; the rental business generated $24.3M in revenue in 1H 2026, down 9.8% Y/Y, and Inogen increased its share repurchase authorization by $15M to $45M, expiring June 30, 2028. Alphabet shares edged higher 4% after Google provided a first look at Gemini 4 Argon, its latest frontier AI model, which outperformed OpenAI Astra and Anthropic Fable 5.1 and Opus 5.5 in 13 of 19 benchmarks, including a 77.9% score on DeepSWE v1.1, and will cost $2 per million input tokens and $10 per million output tokens when launched. Corteva shares dropped 64% following the planned tax-free separation of its Crop Protection business into an independent publicly traded company, Vylor, a decline reflecting the mechanical price adjustment associated with the distribution rather than a conventional sell-off, with the separation effective October 1.
CTVA · Capital · Negative Corteva dropped 64% on the planned tax-free spinoff of its Crop Protection business into Vylor, a mechanical price adjustment tied to the distribution.
GOOG · Technology · Positive Google unveiled Gemini 4 Argon, its new frontier AI model, which outperformed rival models on 13 of 19 benchmarks.
INGN · Capital · Positive Inogen agreed to divest its U.S. oxygen rental business to Rotech for up to $25M and raised its share repurchase authorization by $15M.
VICR · Capital · Positive Vicor raised its Q3 sequential growth guidance to more than 30% on increased royalties from its first non-exclusive vertical power delivery license.
Arkema Invests €10 Million to Expand Global Battery R&D Center in France
Arkema announced a €10 million expansion project for its Global Battery Center of Excellence in Oullins-Pierre-Bénite, in the Auvergne-Rhône-Alpes region of France. The investment will triple the center's footprint and modernize its research infrastructure, including a significant increase in the digitalization of R&D activities. The expansion builds on the Group's global battery R&D network, which spans France, China, South Korea, Japan and the United States, and follows the September 2025 inauguration of a solvent-free battery electrode manufacturing laboratory in Normandy. Arkema said the project will let its researchers replicate customers' manufacturing conditions to accelerate integration of its advanced materials into cell makers' production processes and support batteries with greater energy density, faster charging and enhanced safety. Chief Technology Officer Armand Ajdari called the investment a major milestone in Arkema's ambition to support the rapid evolution of the battery market. The project received support from the French Research Tax Credit and the French State as part of the France 2030 program.
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