Sponsored by Giant Mining Corp.

Mali Mine Collapse Kills 43

A deadly incident occurred at an artisanal gold mining in Mali where at least 43 people have been confirmed dead. The collapse of a mine occurred near Kéniéba, a town situated in the gold-rich Kayes region in the country’s west, and has drawn attention to the widespread yet often unregulated practice of small-scale mining across West Africa.

According to a representative of the national union of gold counters and refineries, the victims were primarily women who had descended into a section of land previously used by industrial mining companies. Seeking remnants of gold left behind, they climbed into an open-pit area that later gave way, trapping them beneath the earth, unaware that the fragile terrain could collapse at any moment.

You can read more on the matter here.

What’s going on?

• As Refineries Close, California Eyes State Ownership (theDeepDive)

• Mark Carney says former prime minister Stephen Harper asked him to be finance minister (CBC)

• Auto Tariffs Coming in April, Trump Says (theDeepDive)

• Zelensky dismisses planned U.S.-Russia talks, insists Kyiv be involved (Globe)

• Bitter Brew: Why Coffee Prices Are Hitting All-Time Highs (theDeepDive)

• European leaders meet to discuss Ukraine as UK troop offer hardens regional resolve (Reuters)

• US Farm Outlook Hits Historic Low as Major Crops Face Losses (theDeepDive)

• Airbus struggling to raise A350 output this year, sources say (Reuters)

• Trump Wants to Get Rid of the Penny—But Is the Move Going to Save Money? (theDeepDive)

• DOGE Seeks Access to IRS System That Houses Sensitive Taxpayer Data (WSJ)

• IEA Expects India’s Gas Demand To Surge 60% By 2030 (theDeepDive)

• China says Canada 'deliberately stirred up trouble' with warship sailing in Taiwan Strait (CBC)

• Tuttle Capital to Launch ETF Focused on UFO Technologies (theDeepDive)

What’s the latest?

• Housing: Canada's housing starts rose 3% in January to a seasonally adjusted annual rate of 239,739 units, driven by an 8% increase in multi-unit starts, particularly in Quebec and B.C. Montreal saw a 112% year-over-year surge in housing starts, while Vancouver rose 37%, and Toronto declined 41%. The six-month moving average dropped 2.5% to 236,892 units. CMHC warns that potential U.S. tariffs could slow housing activity, prolonging market recovery and delaying new construction.

• AI: China's DeepSeek AI lab has developed a model with a training cost under $6 million, challenging the U.S.-led AI dominance. Montreal saw a 112% year-over-year surge in housing starts, while Vancouver rose 37%, and Toronto declined 41%. Experts acknowledge DeepSeek's progress but note its impact on U.S. firms like OpenAI remains limited. Some suspect DeepSeek leveraged distillation from larger Western models, and questions remain about its true hardware costs.

• Manufacturing Sales: Canada's manufacturing sales rose 0.3% to $71.4 billion in December, marking a third consecutive monthly increase, driven by petroleum (+3.4%) and food product sales (+1.9%). However, in constant dollars, manufacturing sales fell 0.8%. Wholesale sales dropped 0.2% to $83.6 billion, with declines in machinery (-2.1%) and building materials (-2.8%). In volume terms, wholesale sales fell 0.8% for the month.

• Air Canada: Air Canada reported a Q4 loss of $644 million, compared to a $184 million profit a year ago, despite a 3.8% increase in revenue to $5.4 billion. The loss equated to $1.81 per diluted share, while adjusted earnings were 25 cents per share, up from a 12-cent adjusted loss last year. The airline expects capacity to grow 3-5% in 2025 and remains focused on adapting to external challenges.

• Winter Storm: A winter storm dumped heavy snow across Ontario and Quebec, with Toronto and Montreal experiencing significant accumulation. Snowfall in Toronto ended Sunday, but the city warned that clearing roads will take time, and vehicles parked on snow routes face towing and fines. Snow squall warnings remain for areas near Georgian Bay, expecting 30-60 cm of snow through Tuesday. Schools in Montreal closed Monday due to heavy snowfall, but air travel at Toronto and Montreal airports has returned to normal.

Is Alberta going to exit Canada?

The stock market and stuff

• Agnico Eagle Q4 Earnings: The Lowest Cost Producer (theDeepDive)

• Tesla braces for delay to China licence as Trump trade tensions mount (FT)

• Kevin Paffrath’s Meet Kevin Pricing Power ETF to Close After Risky Bets, Overextension (theDeepDive)

• Investors Spot Signs of Market Froth During Long Bull Market (WSJ)

• Kinross Q4 Earnings: Is the Market Overreacting? (theDeepDive)

In the juniors

• Benton Resources Expands Great Burnt Main Zone to 950 m Down Plunge and Tests Numerous Other Targets (JMN)

• Sunnova to reduce workforce by more than 15% (SA)

• F3 Uranium Encounters Encouraging Geology in Final Drillholes of 2024 Program (JMN)

FULL DISCLOSURE: Giant Mining Corp. is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Giant Mining Corp.. The author has been compensated to cover Giant Mining Corp. on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.