Lithium Americas (LAC) jumps nearly 100% on government investment. The US government has reached out to the British Columbia lithium company to loan them over $2 billion by acquiring a 10% stake so the company can build the largest lithium mining project in the Western Hemisphere in Nevada. The mine if successful could generate 40,000 metric tons of lithium carbonate in its first phase, set to begin in 2028. The current largest operating lithium mine in the US is producing less than 5,000 metric tons of the metal per year. Currently China produces more than 40,000 metric tons per year of the metal, making it the world’s third-largest lithium producer, behind only Australia and Chile.

Freeport McMoran (FCX) lower on deadly mud slide in one of their mines. The copper miner and producer stock is down 15% as one of their largest gold and copper mines in Indonesia has been shuttered due to mud slide that killed at least two people. Management believes production will be down 35% next year for the mine and down 10% for the whole company.

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