Graphite 101
Oct 14, 2025
By Gaia Research Team
Reading time: 12 mins.
After a turbulent 2023–2024 marked by oversupply and collapsing prices, the market is quietly resetting. Beneath the weakness lies a stronger structural story: global battery-manufacturing capacity is projected to quadruple to 4,100 GWh by 2030, and each gigawatt-hour still depends on graphite anode material.
This policy-driven realignment is breathing life into Western producers such as Nouveau Monde Graphite (NMG)—a Quebec-based, carbon-neutral developer positioned at the intersection of sustainability, supply security, and scale. As Gabrielle Roy wrote in Cet été qui chantait: “Peut-être les lucioles ne vivent-elles que le temps de briller un instant d’un vif éclat. Comme nous tous d’ailleurs.” Graphite, too, may fade under pressure—but when the next cycle dawns, the few lights still burning will shine the brightest.
The Double Pareto Dilemma
Oct 8, 2025
By Gaia Research Team
Reading time: 9 mins.
Recent developments confirm that capital continues to flow into critical minerals despite a subdued price environment. The Trump Administration’s decision to acquire a 10% stake in Lithium Americas underscores the growing focus on national security and resource sovereignty. For long-term investors, this reinforces the strategic case for holding exposure to critical minerals, as geopolitical and nationalist drivers are set to outweigh short-term market weakness.
Mineros Pt.2: When Gold Shapes More Than a Mine — A Community
Oct 1, 2025
By Juliette Maurel
Reading time: 11 mins.
Mineros: When Gold Shapes More Than a Mine — A CommunityI don’t claim to be an expert in the mining industry — in fact, I have no technical background in the field. Before visiting a gold mine like Mineros for the first time, I held several preconceptions: gold mining is often illegal and dangerous, it damages the environment, fuels conflict, and imposes harsh working conditions...And yet,…
Mineros: When Gold Shapes More Than a Mine — A Community
Sep 24, 2025
By Laurent MAUREL
Reading time: 14 mins.
I have just returned from Colombia, where I visited several mining sites, including the alluvial operation run by Mineros S.A.In this pro subscriber bulletin, I share my field report along with a detailed analysis of the company’s latest financial results and outlook.Mineros S.A. released its Q4 2024 earnings, and its stock has taken a sharp hit at the start of the week. In this bulletin,…
Analysis of Serabi Gold
Sep 17, 2025
By Laurent MAUREL
Reading time: 6 mins.
Serabi Gold is a junior gold mining company focused on production in Brazil. It operates two high-grade underground mines, Palito and Coringa, located in Pará State.
Serabi Gold recently published its latest results and production forecasts for the coming years.
In the first quarter of 2025, Serabi produced 10,013 ounces of gold, maintaining the pace established at the end of 2024. This figure exceeds the internal quarterly target by approximately 800 ounces. The expected annual production for 2025 is between 44,000 and 47,000 ounces, with a progressive increase anticipated in subsequent quarters.
Strategic Analysis: Agnico Eagle Mines
Sep 10, 2025
By Laurent MAUREL
Reading time: 4 mins.
As of spring 2025, Agnico Eagle Mines continues to assert its position as a global leader among the world’s most disciplined and efficient gold producers. With annual output exceeding 3 million ounces and operations focused in top-tier jurisdictions — Canada, Finland, and Mexico — the company embodies a strategy grounded in operational resilience, high-quality geology, and self-financed growth. Unlike some of its peers, such as Newmont or Barrick, Agnico has consistently avoided risky or dilutive acquisitions.
Newmont's Stellar Q2 Results Signal Undervaluation
Sep 3, 2025
By Laurent MAUREL
Reading time: 4 mins.
Newmont released exceptional quarterly results, far surpassing market expectations.
Revenue came in at $5.32 billion (vs. $4.85B expected), and adjusted EPS reached $1.43, well above the consensus estimate of $1.12.
Newmont is trading at $65, up +6%, hitting its highest level since April 2023. This marks a decisive trend reversal for the stock, driven by outstanding results and the market's gradual reappraisal of the gold sector.
Deep-Sea Mining: A New Mineral El Dorado?
Aug 1, 2025
By Zenon Research
Reading time: 4 mins.
In April 2025, Donald Trump signed an executive order authorizing deep-sea mining, sparking international outrage over a practice with an unclear regulatory framework and uncertain environmental impacts.
Disclaimer: This article has been translated from French to English. The French version is available on Zenon Research.
Key Takeaways from our July Panel Discussion: Financing the Energy Transition
Jul 25, 2025
By Gaia Research Team
Reading time: 4 mins.
Explore the pivotal role of Sustainable Finance and Critical Minerals Investments in driving the energy transition. Our panelists shared invaluable insights on bridging the gap between capital and the resources essential for a sustainable future.
BHP’s Decarbonization Strategy in Chile
Jul 10, 2025
By Gaia Research Team
Reading time: 9 mins.
Few materials are as vital to the energy transition as copper — and nowhere is that more visible than in Chile, where it powers everything from electric vehicles to wind turbines.
In Chile, home to some of the world’s largest copper mines, BHP is leading the charge to make mining more sustainable. Its operations at Escondida and Spence are not just digging up metal—they’re setting a blueprint for "green copper" production. By slashing emissions, switching to renewable energy, and rethinking water use in the arid Atacama Desert, BHP is tackling the mining industry’s biggest environmental challenges. This article dives into BHP’s decarbonization strategy in Chile, exploring its ambitious goals, tangible progress, and the hurdles it faces in a world demanding cleaner resources.
Copper Miners are Hot
Jul 7, 2025
By Laurent MAUREL
Reading time: 10 mins.
In this climate of widespread distrust toward fiscal and monetary policy, gold is once again asserting itself as the ultimate safe haven.
Let’s now turn to recent developments in the mining sector, with a particular focus on the turbulent week experienced by the silver market.
Amid extreme volatility, aggressive futures positioning, and an ongoing sector rotation, several key signals deserve closer analysis.
Nickel 101 - Part II
Jun 12, 2025
By Gaia Research Team
Reading time: 8 mins.
The 2022 LME nickel crisis led to trading suspension and reforms: 15% price limits, new oversight, and six new brands, raising stocks from 40,000 to 230,000 tons by late 2024 (+59% volume). Shanghai’s SHFE challenges LME, opening futures to foreigners in mid-2025; its SMM index sets ferronickel prices. CME, ICE, and Abaxx expand futures, while bilateral markets for Class II (ferronickel, NPI) often use Chinese prices. LME prices for pure nickel misalign with Class II, fueling LME-SHFE arbitrage. Regulatory shifts, like Russian metal bans, disrupt prices.