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Miners Trapped in BC Mine Collapse

Rescue teams worked Wednesday to reach three miners trapped underground at a British Columbia copper and gold mine after twin ground collapses blocked their escape route.

The miners — two from British Columbia and one from Ontario — were working Tuesday at the Red Chris mine when ground failures trapped them in an underground tunnel, according to mine operator Newmont Corp. (TSX: NGT) and British Columbia Premier David Eby.

“They are, to the best of our knowledge, uninjured and in a refuge area,” Eby said Wednesday during a news conference in Ontario.

You can read more on the matter here.

What’s going on?

• Three Miners Trapped Underground At Newmont’s Red Chris Mine (theDeepDive)

• Nvidia addresses AI chip smuggling, says bootleg datacenters are a ‘losing proposition’ (CNBC)

• WEF Probe Reportedly Found Klaus Schwab Engaged In Unauthorized Spending, Inappropriate Behaviour (theDeepDive)

• EU, China agree to take action on climate change during a tense summit in Beijing (Globe)

• Saylor “Stretches” For Cash To Buy Bitcoin As MicroStrategy Premium Evaporates (theDeepDive)

• Volodymyr Zelenskyy signals retreat from power grab after mass protests (FT)

• Quebec Businesses Sue Federal Government Over Foreign Worker Program Changes (theDeepDive)

• Mortgage Rates in US Inch Down, Sending 30-Year Loans to 6.74% (Bloomberg)

• Despite Trump’s Martin Luther King File Dump, Epstein Questions Linger (theDeepDive)

• Carney to meet Inuit leaders to discuss Bill C-5 (Globe)

• Orla Mining Suspends Mining Activity At Camino Rojo Following Open Pit Wall Failure (theDeepDive)

What’s the latest?

• NVIDIA: At least US$1 billion worth of Nvidia’s banned AI chips were smuggled into China within three months of tightened U.S. export controls, according to the Financial Times. The high-end B200 processors, restricted for Chinese sale, are widely available on the black market. Chinese distributors reportedly sold B200s, H100s, and H200s to data center suppliers starting in May. The U.S. is considering further export restrictions to countries like Thailand by September.

• Gold: Gold prices are up about 30% year-to-date, helping Canada’s S&P/TSX index outperform the S&P 500 — 11% vs. 8% gains, respectively. Gold now makes up 12% of the TSX and accounts for roughly 30% of its returns, driven by strong gains in mining stocks. In contrast, the U.S. market’s tech-heavy gains are slowing, with Tesla down nearly 20% and Alphabet flat. Fund managers say there’s still time for retail investors to benefit as gold demand stays strong amid global uncertainty and central bank buying.

• Retails Sales: Canada’s retail sales fell 1.1% to $69.2B in May, mainly due to a 3.6% drop at motor vehicle and parts dealers. New car dealer sales declined 4.6%. Core retail sales were flat, with food and beverage down 1.2% and building materials up 1.9%. June sales are expected to rise 1.6%.

• Economy: Canada’s economy is expected to contract by 0.8% in both Q2 and Q3, driven by low business confidence and trade tensions. Private investment is projected to drop 13% in Q2 and 6.9% in Q3, while 48% of businesses report supply chain disruptions. Inflation is stable at 1.9%, but job vacancies remain high at 2.8% or 397,000 unfilled roles. CFIB says 62% of SMEs are shifting to domestic markets due to persistent border delays.

• Geopolitics: EU Commission President Ursula von der Leyen urged China to address a growing trade imbalance, with the EU’s trade deficit reaching $143 billion in H1 2025—a 21% increase YoY. Key EU concerns include Chinese overcapacity, market access limits, and rare earth export controls. Talks with Chinese leaders were called “constructive,” but tensions remain over subsidies, EV tariffs, and Beijing’s support for Russia. The summit was shortened to one day in Beijing, reflecting strained ties.

$300 DOLLAR SILVER? with Peter Krauth

The stock market and stuff

• Teck Resources Slashes Copper Guidance Despite Q2 2025 Profit Jump (theDeepDive)

• Spirit Blockchain Outlines Crypto Strategy For ‘Spirit 2.0’ (theDeepDive)

• Loblaw Q2 2025 Earnings Jumped 56%, Largely Thanks To Accounting (theDeepDive)

• NexGen Acquires 10% Carried Interest On Certain Claims From Rio Tinto (theDeepDive)

• Tesla Q2 2025: Cash Flow Cratered 89%, Guidance “Difficult To Measure” (theDeepDive)

In the juniors

• Palisades To Issue $20 Million In New Found Gold Stock To Shareholders (theDeepDive)

• Tariffs Spark New Race for Critical Metals | Rob McEwen (theDeepDive)

• Aya Gold Sees Production Slip In Second Quarter Amid Ramp Up (theDeepDive)

FULL DISCLOSURE: Rua Gold is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Rua Gold on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.