Alaska Airlines orders 110 jets through 2035

Alaska Airlines

Alaska Airlines Boeing aircraft order will reshape its fleet plan through 2035. Alaska Airlines Boeing aircraft order covers 105 737-10 jets and five 787s. As a result, Alaska Airlines Boeing aircraft order becomes the largest in the carrier’s history.

The deal extends Alaska’s delivery stream through 2035 and adds flexibility. The airline also secured options for 35 additional 737-10 aircraft over the same period. Meanwhile, the order lifts Alaska’s total Boeing backlog to 245 planes.

What the Boeing 737-10 and 787 mix signals for network growth

Alaska Airlines Boeing aircraft order supports two growth paths at once. The 737-10 targets high-density domestic and near-international routes with better unit economics. Therefore, it strengthens seat capacity where frequency and cost per seat matter most.

The five 787s push Alaska deeper into long-haul markets from Seattle. Alaska expects the additional 787s to support 12 long-haul international destinations from Seattle by 2030. However, widebody scaling will still depend on crew, gates, and slot access.

Why the fleet plan matters for aerospace supply chains and metals demand

Alaska Airlines Boeing aircraft order adds forward visibility for aircraft production demand. A longer delivery stream helps Boeing and tier suppliers plan labor, tooling, and quality control. As a result, the broader aerospace manufacturing supply chain can stabilize capacity planning.

The order also reinforces demand for aerospace-grade materials. Narrowbody and widebody builds rely heavily on aluminum alloys, titanium, and high-performance fasteners. Meanwhile, engine and interiors supply constraints can still shape actual delivery timing.

The Metalnomist Commentary

This order signals confidence in long-cycle air travel demand and Seattle’s hub economics. However, real upside hinges on Boeing’s ability to sustain quality and rate increases. Airlines that lock in slots early can outgrow peers when deliveries normalize.

Alaska LNG Gains Momentum Through Two-Phase Development

Alaska LNG

Glenfarne’s Phased Approach Reduces Risks for Alaska LNG

Alaska LNG’s two-phase financing strategy is designed to reduce investment risks and improve project viability. Glenfarne Energy Transition, the lead developer with a 75% stake, plans to separate the $44bn project into two independent stages. The first stage includes a North Slope gas treatment plant and a 765-mile pipeline delivering gas to Anchorage, where shortages are expected by 2027.

By structuring the project with separate final investment decisions (FIDs), Glenfarne avoids the pitfalls of the 2016 attempt by ExxonMobil, BP, and ConocoPhillips, which collapsed due to high upfront risks. Glenfarne’s phased approach ensures that each stage is financially viable and attractive to both creditors and offtakers.

Domestic Supply Security and LNG Export Potential

The initial phase secures gas supply for Alaska’s largest population center while laying the foundation for LNG exports. The 3.5bn ft³/d pipeline would transport sufficient gas to meet domestic needs and supply the future liquefaction facility in Nikiski.

If developed, the second phase would add compression capacity, a 42-mile connector pipeline, and a 20mn t/yr LNG terminal. Glenfarne has already received regulatory approval from the US Federal Energy Regulatory Commission and export authorizations from the Department of Energy, positioning the project for international market entry.

Strong International Interest in Alaska LNG Volumes

Asian buyers are showing strong demand for Alaska LNG, signaling export market viability. In June, Glenfarne announced receiving more than $115bn worth of bids from over 50 companies. Taiwan’s CPC signed a preliminary deal in March, while the Philippines and Thailand have expressed interest in future volumes.

Geopolitical dynamics also play a role, as former US President Donald Trump has urged Asian allies to invest in Alaska LNG in exchange for trade concessions. These developments highlight the project’s potential to strengthen US energy ties in the Asia-Pacific region.

The Metalnomist Commentary

Alaska LNG’s revival through Glenfarne’s phased financing marks a strategic shift in US LNG project development. By ensuring domestic gas security while targeting Asian demand, the project balances local needs with global energy ambitions. However, execution risks remain high, especially in financing and geopolitical stability, which will determine whether Alaska LNG becomes a cornerstone of US energy exports.

US Antimony to Source Ore from Alaska to Strengthen Domestic Supply Chain

US Antimony Corporation (USAC)

US Antimony’s move to tap Alaskan antimony ore marks a significant step toward reducing reliance on foreign sources.

US Antimony Corporation (USAC) is making a strategic move to strengthen its domestic supply chain by sourcing antimony ore from its Alaskan mining claims. Starting in the second quarter, USAC will supply its Montana smelter with ore extracted from its newly acquired properties in Alaska. This marks the first time the Texas-based company has utilized domestically sourced feedstock for its operations, positioning it to reduce its dependency on foreign antimony supplies.

Strategic Move to Alaska

Over the past year, USAC purchased more than 210 mining claims covering approximately 33,000 acres in Alaska. These properties are known to contain significant antimony deposits, though past mining efforts in the region have focused primarily on gold, silver, and other metals. By tapping into these lesser-exploited deposits, USAC plans to support its smelting operations, primarily at its Thompson Falls facility in Montana. The proximity of these mining sites to existing infrastructure, including active mines, will facilitate a faster and more efficient supply chain for the company.

Implications for US Supply Chain and Onshoring Efforts

This move aligns with broader efforts by the US government to reduce reliance on foreign critical minerals, particularly from China. In January, President Donald Trump signed an executive order aimed at accelerating the permitting process for mining projects in Alaska. The strategic importance of reducing dependency on foreign sources of critical minerals, such as antimony, has been underscored by recent global supply chain disruptions, including China’s decision to restrict its antimony exports.

USAC’s plan includes gradually ramping up its ore extraction, eventually reaching 1,000 metric tonnes per month. This volume would supply both the Thompson Falls smelter and the company’s Madero smelter in Mexico. However, initial shipments from Alaska are expected to be modest, with volumes ranging from 100 to 200 tonnes per month until USAC can expand its Montana smelting capacity. The company is also awaiting a grant from the Department of Defense to support this expansion.

Impact of China’s Antimony Export Restrictions

USAC’s push to source antimony ore domestically is further fueled by China’s decision to impose export bans on antimony and restrict shipments to other global markets. In 2024, China accounted for 63% of all antimony shipments to the US, as per the US Geological Survey. These restrictions have created a more favorable market for USAC and other domestic companies looking to meet the growing demand for antimony. The company anticipates that high prices for antimony will persist due to the global shortage of this critical mineral, compounded by efforts to onshore mineral supplies to the US and other Western nations.

Conclusion

USAC’s decision to source antimony ore from its Alaskan mining claims represents a critical step in securing a reliable and domestically sourced supply of this vital mineral. As the US government continues to prioritize onshoring efforts and reduce its dependence on foreign critical minerals, USAC’s move sets an important precedent for the future of the domestic antimony market. With global supply chain disruptions highlighting the need for self-sufficiency, USAC is positioning itself as a key player in the race to secure critical mineral resources.

DOD Stake in Trilogy Metals: US Backs Alaska Copper and Critical Minerals

White House: Alaska mining

The DOD stake in Trilogy Metals marks a strategic US move into Alaska’s Upper Kobuk Minerals Projects. The DOD stake in Trilogy Metals brings $35.6mn to advance copper, zinc, lead, and cobalt resources. As a result, the DOD stake in Trilogy Metals aligns defense supply chains with domestic critical mineral development.

Why the deal matters for US critical minerals

The US Department of Defense will buy 10pc of Trilogy Metals. The purchase includes 16.4mn shares and a 10-year call option. South32 will transfer its option and sell part of its holding. The DOD may appoint a board director for three years. This structure strengthens governance and long-term offtake optionality. It also signals federal intent to accelerate strategic metals projects.

Path to development: UKMP and Ambler Access road

The UKMP sits in Alaska’s Ambler mining district. Trilogy and South32 jointly own Ambler Metals. The partners and Washington will coordinate on permitting and financing. They will also pursue expedited mine approvals. The Ambler Access road would link the district to the Dalton Highway. That logistics link remains the key unlock for project economics.

Copper focus with multi-metal upside

Copper leads the project’s value proposition. However, zinc, lead, and cobalt add revenue diversity. US policy now prioritizes resilient energy transition supply chains. This deal connects that policy to on-the-ground execution. It also broadens capital access for US-anchored base-metal assets. The DOD investment reduces perceived permitting risk for lenders.

The Metalnomist Commentary

Defense participation de-risks early-stage funding and accelerates timelines. If the Ambler Access road advances, project financing options should multiply. Expect midstream talks on concentrates and potential US refining routes to follow.

USAC Expands Antimony Operations in Alaska Amidst Global Supply Chain Shifts

Antimony

Texas-Based Miner Secures New Claims to Strengthen North American Antimony Supply

Texas-based US Antimony (USAC) has taken a significant step to bolster its operations by securing a new set of antimony mining claims in Alaska. This move, facilitated through a $5.25 million option agreement, is strategically aimed at diminishing the Western supply chains’ reliance on Chinese antimony sources.

USAC's recent agreement allows them to explore 120 new claims across approximately 17,900 acres in Alaska. This development is built on historical data indicating the presence of near-surface antimony with high values, promising substantial yields for the company.

The financial structure of this deal involves staged payments of $3 million and exploration commitments worth $2.25 million over five and a half years. Additional aspects of the agreement include a net smelter royalty and potential for third-party joint ventures, highlighting a comprehensive plan to maximize resource extraction.

Building on a Robust Foundation in Alaska

Prior to this agreement, USAC already held significant interests in Alaska, with 93 claims spanning 14,880 acres acquired in 2024. The company plans to extend its exploration efforts through a dedicated field program aimed at assessing the potential of these new claims.

Further solidifying its North American presence, USAC is also advancing its smelting operations. This includes securing ore for its Mexican smelter, which is slated for a restart, and a collaborative deal with Perpetua Resources to process concentrate from the Stibnite antimony-gold project in Idaho.

Responding to Global Market Dynamics

These expansions come in direct response to China’s tightened export controls on antimony, including a complete ban to the U.S. as of last December. These restrictions have significantly impacted global supplies and resulted in increased antimony prices, making USAC’s expansion a timely strategic move.

US antimony supply chain strengthened by $43mn Nova funding

Alaska Range Resources

The US antimony supply chain is taking a strategic step forward with new defense-backed funding for production in Alaska. The US antimony supply chain has long depended on imports, but Nova Minerals’ subsidiary Alaska Range Resources (ARR) now plans domestic mining and refining at the Estelle project. The US Department of Defense has awarded $43.4mn to ARR, targeting military-grade antimony trisulfide and reinforcing the US antimony supply chain for critical applications.

DoD-backed investment targets military-grade antimony trisulfide

The new funding will help ARR develop antimony trisulfide production from stibnite ore at Estelle, creating an integrated mine-to-product operation. This integrated flow from ore to antimony trisulfide is designed to meet stringent military specifications for ammunition, pyrotechnics, and specialized defense systems. As a result, the project moves the US beyond basic concentrate supply and into value-added processing.

Antimony trisulfide is essential for ammunition, flame retardants and certain semiconductor applications, linking this project directly to both defence and advanced manufacturing demand. Meanwhile, the initiative aligns with broader US efforts to rebuild critical minerals capacity onshore, especially for materials that have faced supply disruptions and geopolitical risks. By backing a specific site with targeted capital, the DoD is signalling that antimony security is now a strategic priority alongside other defence-linked minerals.

From zero output to a domestic antimony production base

The US produced no antimony at commercial scale in 2024, underscoring how exposed domestic industries are to foreign supply. This new project therefore acts as a potential anchor asset for a future US production base. If Estelle reaches commercial scale, it could support downstream processors and catalyst, alloy and chemicals producers that currently depend on imported antimony feedstock.

At the same time, integrated mine and refining capacity in Alaska could stimulate associated infrastructure, from logistics to environmental technologies, creating a broader critical minerals hub. However, project execution, permitting, and ESG performance will determine whether the investment translates into reliable long-term volumes. Market participants will watch closely how quickly ARR can move from funding to sustained output, and how its costs compare with established suppliers.

The Metalnomist Commentary

This funding marks a meaningful, though early-stage, pivot from import dependence toward strategic domestic capacity in antimony. If Estelle delivers on its integrated vision, it could become a template for how defence funding accelerates critical mineral projects in North America. Yet the project must still prove it can compete on costs and sustainability in a market historically dominated by overseas producers.

US Antimony Smelter Expansion Delay Tests Domestic Antimony Supply Strategy

USAC

US Antimony smelter expansion delays are testing the pace of America’s effort to rebuild domestic antimony processing capacity. US Antimony expects completion of the Thompson Falls smelter expansion in Montana to be delayed after supplier and third-party setbacks affected construction work.

The delay matters because Thompson Falls is the only antimony smelter in the US. It is also one of only two North American antimony smelting assets operated by the company, alongside the Madero smelter in Mexico.

US Antimony smelter expansion plans are designed to lift Thompson Falls capacity to more than 500 tonnes per month. That added capacity is central to the company’s 2026 revenue outlook and its ability to serve government and commercial contracts.

Thompson Falls Capacity Is Critical for US Defense Supply

Antimony is a strategic mineral used in flame retardants, alloys, ammunition, defense applications, batteries, and other industrial products. The Thompson Falls expansion therefore carries national security significance beyond ordinary smelter growth.

US Antimony has secured a five-year fixed-price contract worth up to $245 million to supply antimony ingots to the US Defense Logistics Agency for the national defense stockpile. The company expects to deliver its first $75 million of antimony ingots in 2026.

The company ended 2025 with a record 465 tonnes of processed and unprocessed antimony inventory, up from 78 tonnes a year earlier. Part of that inventory will support its DLA obligations while the company works to expand processing capacity.

Imported Feedstock Still Defines Near-Term Antimony Risk

US Antimony currently sources all of its antimony from international suppliers. That dependence shows why domestic mining claims in Montana and Alaska are strategically important to the company’s long-term supply position.

The company reacquired mining claims adjacent to its Montana smelting operations in July and also acquired claims in Alaska in January 2025. However, Alaska operations have faced delays from permitting issues and weather conditions.

Revenue more than doubled to $39.3 million in 2025 from $14.9 million in 2024, but losses widened to $4.3 million. This shows that growth is accelerating, but execution costs, expansion delays, and feedstock security remain key risks.

The Metalnomist Commentary

US Antimony smelter expansion is a test case for whether the US can convert critical mineral policy into real processing capacity. The company has the contracts and strategic relevance, but execution speed and domestic feedstock development will decide how much supply security it can actually deliver.

US Antimony capital raise funds growth in critical minerals

US Antimony

US Antimony capital raise plans signal an aggressive push into the US critical minerals supply chain. The company aims to secure $25mn by selling around 2.4mn shares to a mutual fund, adding to substantial capital injections in August and earlier this month. As a result, the US Antimony capital raise will underpin inventory expansion, smelting upgrades and potential acquisitions at a pivotal moment for US defence-focused metals.

US Antimony capital raise supports defence stockpile and smelter expansion

The US Antimony capital raise directly supports its five-year, fixed-price contract with the US Defense Logistics Agency. The firm plans to use proceeds to acquire additional antimony inventory and expand existing leaseholds in Alaska and Montana, reinforcing upstream security of supply. At the same time, management will expand the Madero smelter in Mexico and evaluate acquisitions of other critical minerals companies. Together, these steps align with Washington’s push to localise and friend-shore strategic metal supply chains.

Meanwhile, the latest equity deal follows roughly $18mn raised in August and nearly $26.3mn earlier this month. This rapid sequence of financings shows investors are willing to back a scale-up strategy anchored by long-term government demand. It also gives US Antimony flexibility to deploy capital across mining, processing and potential M&A rather than relying on a single asset bet.

Building a vertically aligned US antimony supply chain

US Antimony has positioned itself at the heart of efforts to rebuild a fully integrated US antimony supply chain. The DLA contract, worth up to $245mn over five years, provides predictable offtake for antimony ingots headed into the national defence stockpile. Therefore, the US Antimony capital raise can be viewed as growth equity tied to a visible revenue base rather than speculative greenfield risk.

However, execution risks remain around smelter expansion, permitting and integrating any acquired critical minerals businesses. The company must also navigate volatile antimony prices and competing capital needs across Alaska, Montana and Mexico. Even so, a reinforced balance sheet and contracted government demand leave US Antimony better placed than many peers to weather market cycles.

The Metalnomist Commentary

US Antimony’s latest capital raise underlines how defence-linked offtake can unlock substantial private funding for critical minerals. If management successfully converts this cash into reliable mine-to-ingot capacity, the company could become a cornerstone of US antimony security. For other strategic metals developers, the model highlights the value of long-dated government contracts in de-risking large equity raises.

US Antimony Revenue Doubles as Critical Mineral Demand Surges

US Antimony

US Antimony Corporation achieved remarkable financial performance in the first quarter, with revenue more than doubling to $7 million compared to the same period last year. The mining and processing company's impressive growth reflects surging antimony prices and significant operational improvements across its North American facilities.

Strong Financial Performance Driven by Strategic Market Position

Antimony sales dominated the company's revenue stream, generating $5.9 million and accounting for approximately 84% of total quarterly revenue. This substantial increase transformed the company's financial outlook dramatically. Net income reached $546,524, a striking turnaround from the $322,768 loss recorded in the first quarter of 2023.

The company's success stems from its unique market position as the operator of North America's only two antimony smelters. This exclusive status provides US Antimony with significant competitive advantages in a market where antimony serves critical applications including flame retardants, military equipment, and lead-antimony alloys for batteries and cables.

Expansion Plans Signal Continued Growth Trajectory

US Antimony expects second quarter revenue to climb further following the April restart of its Madero smelter in Mexico. Meanwhile, the company announced ambitious expansion plans for its Montana facility, targeting a six-fold capacity increase to 300 tons per month. These operational enhancements position the company to capitalize on growing demand for this critical mineral.

Therefore, the company's strategic acquisitions continue to strengthen its supply chain. US Antimony plans to begin sourcing antimony ore from Alaska in the second quarter, following its $5.25 million acquisition of additional antimony mining claims in Alaska during January. This vertical integration strategy reduces supply chain risks while expanding production capabilities.

However, the company's smaller zeolite division remains a minor revenue contributor compared to its core antimony operations. As a result, US Antimony's growth strategy focuses primarily on expanding antimony production capacity and securing additional ore sources.

The Metalnomist Commentary

US Antimony's exceptional Q1 performance underscores the critical importance of domestic mineral processing capabilities amid global supply chain uncertainties. The company's monopolistic position in North American antimony smelting, combined with strategic capacity expansions, positions it to capitalize on sustained demand for this essential defense and industrial mineral.

US Antimony feedstock sourcing expands to secure smelter supply

US Antimony feedstock

US Antimony feedstock sourcing broadened across the US and overseas to stabilize operations. The company moved to secure inputs for its Montana and Mexico smelters. As a result, it advanced domestic mining claims and lined up new international suppliers. However, it also flagged issues with Australian material quality and logistics.

Domestic expansion: Alaska and Montana

US Antimony feedstock sourcing grew with new Alaska claims, including a 150-acre site near Fairbanks. The firm expects faster permitting since the land is neither federal nor state. Meanwhile, reacquired claims beside its Montana smelter should deliver stibnite within months. Therefore, domestic ore should lower supply risk and trucking distances.

International diversification: Bolivia and Chad

Bolivia will supply up to 150 t/month of antimony flake starting in early 2026. A 10 t pilot shipment arrives at the Montana smelter in August. Additionally, two sources in Chad will feed the Madero smelter, starting with 80 t. Subsequent deliveries should reach 100 t/month to support steady throughput. Canada also lifted feedstock to 857 t year-to-date, up 121 percent.

Australian sourcing faces setbacks following a 50 t shipment held 82 days by Chinese customs. Concurrently, incoming ore showed elevated arsenic and iron, pressuring processing costs. However, broader sourcing and scrap blending can offset penalties and maintain recoveries. Therefore, the portfolio approach underpins more reliable antimony supply for strategic markets.

The Metalnomist Commentary

Diversification is the right hedge as geopolitics and impurities raise feedstock risk. Watch ramp discipline in Bolivia and Chad and impurity management in Montana. If logistics hold, US Antimony can claw back margin despite uneven market conditions.

US Defense Stake in Trilogy Metals Signals Strategic Copper Push

Trilogy Metals

US defense stake in Trilogy Metals marks a new phase in American critical minerals policy. The US Department of Defense will acquire a 10pc equity position in Trilogy Metals through a $35.6mn investment, directly supporting the Upper Kobuk Minerals Projects in Alaska. This US defense stake in Trilogy Metals aligns with Washington’s broader effort to secure domestic supplies of copper, zinc, lead and cobalt for energy transition and defense applications. The funding targets early-stage exploration and development, giving the government a financial foothold in a key North American resource district.

US defense stake in Trilogy Metals reshapes project governance

The share deal will significantly reshape the ownership and governance structure around the Ambler district assets. Trilogy, South32 and their joint venture vehicle Ambler Metals have agreed that the DOD will purchase 16.4mn Trilogy shares, split evenly between new issuance and stock sold by South32. As a result, the US defense stake in Trilogy Metals will include a 10pc holding in the company plus a transferred 10-year call option over an additional 6.2mn shares. In parallel, the DOD gains the right to appoint an independent director to Trilogy’s board for three years, embedding strategic oversight at the governance level. This board presence reinforces how the US defense stake in Trilogy Metals goes beyond financing and moves into influence over long-term project direction.

Ambler Access road and permitting move to the forefront

The investment also targets the bottlenecks that have slowed development of the Ambler district. The partners and the US government plan to collaborate on permitting, financing and construction of the Ambler Access road, linking the remote Upper Kobuk Minerals Projects to the Dalton Highway. As a result, the package couples capital with political support for a key piece of Arctic infrastructure. The parties also intend to pursue expedited mine permitting, although environmental and community scrutiny in Alaska remains intense. If successful, the integrated approach could shave years off the path to first production and turn the Ambler district into a meaningful copper and zinc supplier for North American smelters.

The Metalnomist Commentary

This transaction shows how security concerns are pulling US government capital directly into junior mining equity, not just downstream refining. For Trilogy and South32, the partnership de-risks infrastructure and permitting, but it will likely raise expectations on ESG performance and project transparency. The Ambler district could become a test case for whether state-backed critical minerals strategies can overcome the permitting gridlock that has stalled many US copper projects.

USAC buys flotation plant to up domestic Sb processing

US Antimony

USAC buys flotation plant to up domestic Sb processing as Washington prioritizes secure supply. USAC buys flotation plant to up domestic Sb processing by acquiring Montana’s Radersburg Mill. USAC buys flotation plant to up domestic Sb processing to reduce reliance on foreign antimony concentrates.

The Radersburg Mill is fully operational and sits near USAC’s Thompson Falls smelter in Montana. As a result, the acquisition can shorten logistics and improve feed flexibility. The mill supports ore processing from USAC’s Alaska and Montana mines.

Why Radersburg Mill matters for antimony security

USAC aims to increase domestic antimony ore processing and lower exposure to overseas suppliers. The company still buys ore and concentrate from Chad, Bolivia, Peru, Australia, and Mexico. However, greater in-country processing can stabilize deliveries during trade disruptions.

The mill also expands optionality beyond antimony. It has historically processed gold, silver, copper, lead, and zinc. Meanwhile, the facility can handle tungsten, cobalt, PGMs, and rare earths, depending on feed and flowsheet choices.

DLA contract drives the scale-up

USAC secured a five-year fixed-price contract with the US Defense Logistics Agency for antimony ingots. The contract can reach $245mn and targets up to 6.7mn lb over the term. Therefore, USAC is pushing throughput increases across its network.

Thompson Falls currently produces about 100t per month and targets 500t per month after expansion. The company expects to finish expansion and commissioning in February. Meanwhile, USAC restarted the Madero smelter in Mexico in April to process most international shipments.

The Metalnomist Commentary

This deal strengthens US antimony resilience by linking ore processing with smelting capacity in one region. However, execution risk remains in ramping to 500t per month without bottlenecks in feed quality and logistics. If USAC delivers, it becomes a key Western Sb supply node for defense and strategic alloys.

Brazil's BNDES Boosts Embraer Exports with $158 Million Deal for Horizon Air

BNDES

Embraer Secures Strong Support Amid Growing Global Demand for E-175 Jets

Brazil’s development bank BNDES has greenlit R$900 million ($158 million) in financing to support Horizon Air’s acquisition of six Embraer E-175 aircraft, reinforcing Brazil's position in the global aerospace supply chain. The aircraft are set for delivery between 2025 and 2026.

This new approval marks a continuation of BNDES’s backing for Embraer exports, following its 2023 financing of 11 aircraft also destined for Horizon Air. The move demonstrates increasing alignment between public financing tools and Brazil’s industrial export agenda, especially within high-tech manufacturing sectors like aviation.

Significant Growth in Aircraft Export Financing Since 2023

Since the start of 2023, BNDES has approved financing for 141 Embraer aircraft exports — a 67% surge compared to the previous administration. This rise indicates renewed momentum in supporting Brazil’s strategic industries through international financing mechanisms.

Such initiatives not only stimulate the Brazilian economy but also strengthen Embraer’s competitive edge globally, especially in the regional jet segment, where the E-175 is a key player. Horizon Air, a regional affiliate of Alaska Airlines, continues to favor Embraer’s models due to their fuel efficiency and route flexibility.

Embraer Reports Strong Sales Performance with Major US Deals

Embraer, Brazil’s largest aircraft manufacturer and a global aerospace leader, reported the sale of 206 aircraft in 2024 — a 14% increase from 2023. This includes a major order of over 180 jets to U.S.-based Flexjet, signaling strong demand for Embraer's jets in North America.

With consistent financial support from institutions like BNDES, Embraer is well-positioned to expand its market share, especially in the mid-range commercial aircraft segment. This trend reinforces Brazil’s strategic capability in high-value manufacturing and global exports.

Lucid critical minerals partnership targets stronger US EV supply chains

Lucid Motors

Lucid Motors has formed the Lucid critical minerals partnership to bolster domestic sourcing for EV manufacturing. The collaboration, called MINAC, unites prospective US producers and Lucid to accelerate critical mineral development. As a result, the Lucid critical minerals partnership seeks to reduce reliance on foreign inputs and strengthen national supply resilience.

How MINAC plans to accelerate supply

MINAC will identify regulatory and technical hurdles that slow US critical mineral projects. It will also foster long-term agreements between producers, automakers, and parts suppliers. Therefore, the Lucid critical minerals partnership aims to convert pilot output into bankable supply for EV supply chains.

Partners and policy alignment

Lucid partnered with Alaska Energy Metals, Graphite One, Electric Metals, and RecycLiCo to launch MINAC. Meanwhile, the initiative aligns with President Donald Trump’s March executive order promoting domestic critical mineral production. The Lucid critical minerals partnership positions US automakers to secure future feedstock more predictably.

MINAC’s structure targets timely procurement for nickel, graphite, and other battery materials. However, success depends on permitting progress and commercial offtake execution. As a result, sustained coordination across producers and OEMs will be essential.

The Metalnomist Commentary

This move signals OEMs are stepping upstream as policy and geopolitics reshape battery material flows. Watch for binding offtake, permitting milestones, and financing that translate policy momentum into metal at scale.

US Antimony Bolivia Processing Facility Expands the Western Antimony Supply Chain

US Antimony, Bolivia plant

The US Antimony Bolivia processing facility could strengthen one of the West’s most constrained critical mineral chains. US Antimony said it helped develop a hydrometallurgical facility in Bolivia to refine antimony and other critical minerals at commercial scale. The company will be the sole recipient of processed antimony flake from the site. As a result, the US Antimony Bolivia processing facility may become an important upstream support point for western antimony supply.

This development matters because antimony remains strategically sensitive and commercially tight. US Antimony expects the higher-quality flake from Bolivia to raise throughput at its Thompson Falls smelter in Montana. The company plans to receive an initial 150-metric-tonne shipment in February or March. Therefore, the US Antimony Bolivia processing facility is not just a technology project. It is already linking directly to near-term metal and trioxide production.

The agreement also gives US Antimony more than supply access. The company secured the exclusive right to duplicate the Bolivian hydrometallurgical process in North America and Australia. That means the US Antimony Bolivia processing facility could serve as a template for wider regional expansion. Consequently, the project may help create a more scalable western antimony processing model.

Hydrometallurgical Antimony Processing Offers a Faster Route to Capacity Growth

Hydrometallurgical antimony processing is becoming the most important strategic feature of this deal. US Antimony said the Bolivian facility expanded output 15-fold since it began funding the site in mid-2025. That rise suggests the processing route can scale quickly when supported with capital and feedstock. As a result, hydrometallurgical antimony processing may offer a more flexible alternative to slower traditional capacity build-outs.

The feedstock base also supports the project’s commercial relevance. The facility uses stibnite concentrate or tetrahedrite concentrate to produce antimony. That flexibility matters because diversified feed options can improve plant utilisation and reduce procurement risk. Meanwhile, the company noted that similar methods and equipment could also refine other critical minerals. Therefore, the process may carry broader value beyond antimony alone.

This model fits the current strategic environment in critical minerals. Governments and processors increasingly want smaller, faster, and more adaptable refining assets. Large mining projects still matter, but midstream processing gaps often create the real bottlenecks. Consequently, hydrometallurgical antimony processing may attract stronger attention from both policymakers and investors.

Western Antimony Supply Chain Ambitions Are Moving Toward Domestic Replication

Western antimony supply chain strategy now appears to be shifting from dependence toward duplication. US Antimony said it expects to develop one or more hydrometallurgical facilities in the United States in the near future. Those sites would likely be located in the western continental US and or Alaska. Therefore, the company is clearly aiming to regionalise the process rather than rely on Bolivia alone.

Funding plans reinforce that ambition. US Antimony requested $44mn from the US Department of Energy for a US hydrometallurgical facility. It also plans to seek Department of Defense support for another location near Montana. That combination suggests the company sees antimony as both a commercial opportunity and a strategic materials priority. As a result, the western antimony supply chain could gain a stronger domestic processing base if funding is secured.

The broader implication is significant for critical minerals markets. Antimony has often been discussed as a supply risk, but less often as a processing challenge. This project changes that framing by focusing on conversion capacity and material quality. If US Antimony can replicate the Bolivian model successfully, it may move from being a niche processor to a more important builder of western antimony supply resilience.

The Metalnomist Commentary

This story matters because it is about process control as much as metal supply. US Antimony is trying to turn one successful hydrometallurgical model into a repeatable western platform. If that strategy works, antimony could become a rare example of a critical mineral chain that improves through midstream replication rather than waiting for major new mines.

Trump's Abrupt Tariff Decision: Pausing Global Levies While Increasing China's Tariffs

China Tariff

In a surprising shift, President Donald Trump announced that he would pause the punitive tariffs on key US trading partners, which were set to begin today. However, he simultaneously raised tariffs on Chinese imports to an extraordinary 125%. This move marks a significant reversal from earlier statements, as Trump justified the pause with the recent volatility in financial markets, particularly in the stock and bond markets.

Pausing Global Tariffs but Targeting China

Trump’s decision, announced via social media, paused reciprocal tariffs on nearly every country except China. These tariffs, which had ranged from 17% on countries like the Philippines and Israel to 49% on Cambodia, were set to begin today. The pause will last for 90 days, offering a temporary respite to US trading partners.

However, the increased tariffs on Chinese imports stand in stark contrast. According to Treasury Secretary Scott Bessent, the tariff rate on China will rise to an unprecedented 125%. This escalation follows ongoing trade tensions between the US and China, with China repeatedly increasing its trade actions against the US.

The EU, which would have faced a 20% tariff starting today, has already prepared retaliatory measures. The European Union has also proposed countermeasures for the 25% tariff on steel and aluminum imports imposed earlier by the US.

Flexibility in Tariff Policy and Trade Negotiations

In a shift from earlier policy, President Trump indicated a willingness to consider exemptions for certain US importers who may be disproportionately affected by the tariffs. This move contrasts with previous statements where the administration had insisted on a blanket approach. Energy commodities and critical minerals were exempt from both the baseline 10% tariff and the higher reciprocal tariffs.

Furthermore, Bessent suggested that trade discussions may also involve non-trade issues, with the US considering a major LNG project in Alaska that could attract interest from South Korea, Japan, and Taiwan. These potential deals could factor into negotiations aimed at reducing the US trade deficit with these countries.

China’s Response and Global Impact

China, predictably, responded to the new tariffs with its own retaliatory measures. As of April 10, China will increase import tariffs on US goods by 50 percentage points, reaching a total of 84%. This escalation underscores the growing trade conflict between the two largest economies in the world.

The UK and Canada have also indicated potential countermeasures. The UK, which remains subject to a 10% tariff, has included refined oil products from the US in a list of goods that could be targeted. Mexico and Canada, however, were excluded from the latest round of tariffs, further highlighting the complex nature of US trade policies.

Uncertainty Surrounds Tariff Strategy

The sudden reversal in tariff policy caught many in the administration by surprise. US Trade Representative Jamieson Greer, who had been testifying before the House Ways and Means Committee, was blindsided by the announcement. This left many questioning the coherence and strategy behind Trump’s tariff decisions.

Representative Steven Horsford of Nevada remarked that there appeared to be no clear strategy, as evidenced by Greer’s reaction. This further compounded the sense of unpredictability surrounding US trade policy.

Conclusion: A Shifting Trade Landscape

President Trump's abrupt changes to tariff policies, particularly the increase in tariffs on China, signal that the US is deepening its trade conflict with the country. While the temporary pause on global tariffs provides some relief to US allies, the continued escalation with China may have long-lasting effects on global trade dynamics. As negotiations unfold, businesses worldwide will be watching closely to understand the full impact of these decisions.

Graphite One and Lucid Motors Ink Supply Deal

Graphite One 'graphite'

In a pioneering move, Canada's Graphite One and US-based Lucid Motors have signed a non-binding agreement for the annual supply of 5,000 tons of synthetic graphite. This marks the first such agreement between a US automaker and a US graphite project, with Graphite One's operations based in Warren, Ohio, and a graphite mine in the Kigluaik Mountains, Alaska.

The deal stipulates that Graphite One will supply 5,000 tons, representing 20% of its initial annual output, to Lucid Motors each year. The sales will be linked to a future market pricing formula.

In September, Graphite One received a $37.5 million grant under the US Defense Production Act. The company aims to open a plant in Ohio with an annual synthetic graphite anode output of 25,000 tons by 2026. Currently, the US relies entirely on imports for synthetic and natural graphite, critical components for electric vehicle batteries.

Lucid CEO Peter Rawlinson emphasized the importance of the agreement, stating, "We are committed to accelerating the transition to sustainable vehicles and the development of a robust domestic supply chain ensures the US and Lucid will maintain technology leadership in this global race."

Graphite One plans to complete its project feasibility study by the fourth quarter of this year. Additionally, the company submitted a grant proposal to the US Department of Energy in the first quarter. CEO Anthony Huston noted, "Management currently anticipates construction and commissioning costs are estimated at $430 million, subject to any unforeseen delays or varied market conditions."

Boeing Delays 737 Max Production Recovery to 2025 Amid Labor Strike

Boeing

Boeing, the aerospace giant, has announced that it will delay its target to restore the production rate of its flagship 737 Max narrowbody aircraft to 38 jets per month until 2025. The delay is largely attributed to a labor strike that disrupted production and compounded existing supply chain and operational challenges.

Impact of the Strike

The strike, which began on 13 September, involved over 32,000 employees represented by the International Association of Machinists and Aerospace Workers (IAMAW). It halted production not only of the 737 Max but also of Boeing’s 767 and 777 programs. While workers are voting on a tentative labor agreement, Boeing anticipates it will take weeks to reintegrate its workforce and retrain employees affected by the work stoppage.

Boeing has also faced supply chain disruptions during the strike, halting shipments from some suppliers while maintaining robust operations with others. Some suppliers have announced furloughs as a result.

Production and Delivery Challenges

The strike adds to Boeing’s ongoing struggles with component shortages and heightened scrutiny over quality control following a midair panel blowout on an Alaska Airlines flight earlier this year. Despite these challenges, Boeing’s total commercial aircraft deliveries increased to 116 units in the most recent quarter, up from 105 units a year earlier.

Key highlights:

• 737 Max Deliveries: Increased to 92 units from 70, year-over-year.
• 787 Dreamliner: Boeing reaffirmed its goal to reach 5 units per month by the end of 2024, up from the current rate of 4/month.

Financial Performance

Boeing’s backlog remains robust at $511 billion, with 6,197 unfilled orders as of 30 November. However, quarterly losses widened to $6.2 billion compared to $1.6 billion in the same period last year, with revenues dipping to $17.8 billion from $18.1 billion.

Outlook

While Boeing works to mitigate strike-related disruptions, it must also address quality control concerns and component shortages to stabilize production. The company remains optimistic about achieving its Dreamliner production targets and fulfilling its substantial backlog, signaling long-term resilience despite current setbacks.

The Biden-Harris Administration and NOAA Announce a $575 Million Initiative to Enhance Climate Resilience of U.S. Coastal Areas

The Biden-Harris Administration and the National Oceanic and Atmospheric Administration (NOAA) have announced $575 million in funding to bolster climate resilience in the country’s Great Lakes and coastal states and territories. United States Secretary of Commerce Gina Raimondo stated that the funds would support 19 projects as part of NOAA’s Climate Resilience Regional Challenge, which is part of the Investing in America agenda.

NOAA's press release mentioned that the program is funded by the Inflation Reduction Act and is a competitive initiative under NOAA’s Climate-Ready Coasts and Communities Initiative. Raimondo highlighted the historic nature of this investment, noting that it is the largest in the Commerce Department's history and a crucial component of the Biden-Harris Administration's ambitious climate agenda. The funding is aimed at helping underserved communities across the country develop and implement strategies to protect against flooding, storm surges, and extreme weather events.

Announced in 2023, the program has received nearly 870 letters of intent requesting over $16 billion in funding. The Climate Resilience Regional Challenge also supports President Joe Biden’s Justice40 Initiative, aiming to ensure that 40 percent of the overall benefits of certain federal investments reach disadvantaged communities burdened by pollution and underinvestment.

National Climate Advisor Ali Zaidi emphasized that coastal communities are on the frontlines of the climate crisis, facing challenges such as sea level rise and storm surges. The funding announcement is paired with the administration's new Climate Resilience Game Changers Assessment, which aims to collaborate with state, local, and tribal governments to build capacity, upgrade infrastructure, and protect vulnerable communities from climate impacts.

The funding program includes two tracks: awards for planning and capacity building, and implementation awards for transformational projects. Planning and capacity building awards will focus on regions and communities advancing or initiating collaborative efforts to enhance coastal resilience. They account for 11 of the 19 projects recommended for funding, with an average award amount of $1.8 million.

John Podesta, Senior International Climate Policy Advisor to the President, noted that coastal communities are already experiencing the impacts of extreme weather fueled by the climate crisis. These grants aim to equip them to design locally-led projects for a resilient future. The projects are designed to help communities build regional partnerships, engage with historically marginalized groups, assess climate change risks, plan adaptation actions, and build workforce capacity.

Implementation awards include eight transformational projects, with funding ranging from $56 to $75 million over five years, totaling approximately $555 million. States and communities will use the funds to acquire vulnerable land, build natural infrastructure, strengthen public access to natural resources, build regional capacity, and update local and state policies.

NOAA Administrator Rick Spinrad described the investment as transformative, emphasizing the importance of equity, inclusion, and community engagement in building Climate-Ready Coasts. NOAA will also provide technical assistance to award recipients to support successful project implementation.

The projects recommended for funding range from $78.9 million in Alaska to $71.1 million in California and $2 million in the Federated States of Micronesia. Hawaii and the U.S. Virgin Islands have been recommended for implementation awards of $68.4 and $69 million, respectively, while Minnesota may receive a $1.85 million planning award.

NOAA's press release stated that the Climate Resilience Regional Challenge is focused on collaborative projects to increase coastal community resilience to extreme weather and other climate change impacts, contributing to the vision of the Biden-Harris Administration’s National Climate Resilience Framework.

Teck hits top-end 2025 copper guidance as Quebrada Blanca constraints linger

Teck

Teck produces on high end of 2025 guidance after delivering strong copper and solid zinc output. Teck produced 453,000t of copper and 565,000t of zinc in 2025, staying within its guidance ranges. Meanwhile, Teck kept its 2026 production outlook unchanged, even as it flagged lower-grade mining ahead.

Teck’s copper output rose 2pc from 2024, supporting a steadier supply profile for the market. However, operational constraints at key assets still shaped quarterly volatility. Therefore, investors will watch execution discipline as the company moves into 2026.

Quebrada Blanca drives copper, but tailings issues cap momentum

Quebrada Blanca in Chile anchored Teck’s copper result and reached the top of its annual guidance. The site produced 190,000t of copper in 2025. However, fourth-quarter output slipped 9pc year on year to 55,400t after downtime linked to slow sand drainage.

Slow sand drainage has constrained the concentrator and complicated tailings facility development. As a result, Teck plans to build a sand wedge to support a steadier operating state. The company expects tailings development will stop constraining throughput by 2027.

Zinc volumes stay inside guidance as Red Dog output swings

Teck’s zinc production fell to 565,000t in 2025 from 615,900t in 2024. Even so, the company remained within its annual guidance. Meanwhile, fourth-quarter zinc output dropped 26pc to 108,600t, underscoring weaker late-year performance.

Red Dog in Alaska remained Teck’s largest zinc contributor. The mine produced 462,700t of zinc in concentrate in 2025, near the high end of guidance. However, Red Dog’s fourth-quarter output fell 32pc to 87,300t, reflecting operational and seasonal variability.

Teck also recorded softer fourth-quarter sales. Copper sales fell 5pc to 118,600t, while zinc sales dropped 23pc to 157,200t. Refined zinc production in Canada fell 10pc to 229,900t, and refined zinc sales slipped 3pc to 59,400t.

The Metalnomist Commentary

Teck’s 2025 performance shows reliable delivery, but lower grades will pressure costs if productivity slips. Meanwhile, Quebrada Blanca’s tailings pathway remains the copper swing factor. If Teck stabilizes drainage and throughput, it can defend guidance without sacrificing margins.