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Legault Steps Down in Quebec

Quebec Premier François Legault announced his resignation on Wednesday, ending a seven-year tenure marked by early pandemic leadership successes but concluding with record unpopularity and party defections.

Legault, 68, will remain premier until his Coalition Avenir Québec selects a new leader. The party faces an October provincial election trailing far behind rivals in polling.

“For the good of my party and especially for the good of Quebec, I am announcing today that I will leave my position as Quebec premier,” Legault said at the National Assembly.

You can read more on the matter here.

What’s going on?

• Trump Looks To Bring Critical Mineral Processing To US, Considering Price Floors (theDeepDive)

• Canada open to Chinese investment in the energy sector, including oil sands (Globe)

• Six in 10 Canadians Expect Economy to Worsen in 2026 (theDeepDive)

• Nato troops to be in Greenland on ‘more permanent’ basis (FT)

• Senate Bill Gives Treasury Warrantless Power Over Crypto Transactions (theDeepDive)

• Trump meets Venezuelan opposition leader Machado after praising interim president (Reuters)

• APMEX Imposes $10K Minimum To Curb Demand Due To Record Gold & Silver Highs (theDeepDive)

• Philly Fed’s Paulson Says Rate Cuts Can Wait, Shows Support for Powell (WSJ)

• Britain Opens Criminal Investigation Into X Over Grok Child Abuse Images (theDeepDive)

• Taiwan will invest $250 billion in U.S. chipmaking under new trade deal (CNBC)

• Ottawa Called Back Liberal MPs From Taiwan Ahead of Carney China Visit (theDeepDive)

What’s the latest?

• Energy: Canada signed a new energy MOU with China to expand cooperation on oil, LNG, LPG, and clean energy, as PM Carney pursues doubling non-U.S. exports amid strained trade ties. In 2024, 96% of Canadian oil exports went to the U.S., while just 2% ($2.45B) went to China, though LNG capacity to Asia is rising after Trans Mountain (2024) and LNG Canada start-up. The pact launches a 5-year ministerial energy dialogue and comes as Chinese imports of Canadian goods fell 10.4% in 2025, largely due to retaliatory agricultural tariffs.

• Tech: The U.S. and Taiwan agreed on a chip trade deal under which Taiwanese firms will invest $250B in U.S. semiconductor capacity, backed by $250B in Taiwanese government credit, in exchange for reduced tariffs (15% from 20%) and zero tariffs on select goods. The deal incentivizes U.S.-based fabs—allowing higher duty-free imports during construction—while warning Taiwan chipmakers that non-U.S. builders could face 100% tariffs, with the U.S. targeting 40% of Taiwan’s chip supply chain to relocate domestically.

• Market: Canada’s S&P/TSX rose 147.68 points to 33,064.15, tracking U.S. gains as the Dow (+383.64), S&P 500 (+48.41), and Nasdaq (+226.24) advanced. The CAD eased to US$0.7198, while crude fell to US$59.23/bbl and gold slipped US$15.80 to US$4,619.90/oz in late-morning trading on Jan. 15, 2026.

• Real Estate: CREA forecasts 2026 home sales up 5.1% to 494,512 units and average prices up 2.8% to $698,881, both revised down from prior estimates, with further growth expected in 2027. The rebound is driven by pent-up first-time buyer demand, a Bank of Canada rate holding at 2.25%, easing inflation, and recovery in B.C. and Ontario (+8%+ sales)after 2025 sales fell 1.9% amid tariff-related uncertainty.

• Politics: B.C.’s Forests Ministry signed a 5-year, non-binding MOU with China to expand modern wood construction and mass timber research, supporting green buildings and urban renewal, alongside Canada’s federal Natural Resources Department. The deal is among the first agreements signed during PM Mark Carney’s China visit, his first in over eight years, as Canada pursues broader trade and sustainability cooperation.

Mayfair Fenn Gib PFS

The stock market and stuff

• Alamos Gold Misses 2025 Guidance, Produces 545,400 Ounces (theDeepDive)

• First Majestic Hits 2025 Guidance, Producing 31.1 Million Silver Equivalent Ounces, Increases Dividend (theDeepDive)

• Amazon threatens ‘drastic’ action after Saks bankruptcy, says $475M stake is now worthless (CNBC)

• Artemis Gold Guides To 277,500 Ounce Production Midpoint For 2026 (theDeepDive)

• NexGen Launches 42,000 Metre Drill Program At PCE While Expanding Mineralized Footprint (theDeepDive)

In the juniors

• Antimony Resources Planning 10,000 Metre Drill Program For H1 2026 (theDeepDive)

• Brazil shuts down Sigma Lithium waste piles over safety concerns (Reuters)

• Canadian Copper Closes On Sale Of Turgeon Project In New Brunswick For Cash And Shares (theDeepDive)

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