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Pentagon Backs First US Gallium Plant

The Pentagon invested $150 million Sunday in a Louisiana alumina refinery to build what officials say will become the nation’s first large-scale gallium production facility, part of a broader Trump administration push to reduce reliance on China for critical minerals.

The Defense Department partnered with Atlantic Alumina and Pinnacle Asset Management to expand production at the Gramercy refinery, which has operated continuously since 1959 and remains the last alumina refinery of its kind in the United States.

Pinnacle invested more than $300 million in private capital through its subsidiary Concord Resources Holdings, which owns the majority stake in Atlantic Alumina. Additional government funding is expected within 30 days.

You can read more on the matter here.

What’s going on?

• Trump Slaps 25% Tariff on Iran-linked Trade; Embassy Warns “Leave Iran Now” (theDeepDive)

• Musk Offers Free Starlink in Iran as Internet Blackout Persists (Bloomberg)

• Copper Shortage Threatens AI Boom as Demand Set to Surge 50% by 2040 (theDeepDive)

• Pace of Inflation Held Steady in December; Consumer Prices Up 2.7% on Year (WSJ)

• Trump Threatens to Exclude Exxon After CEO Calls Venezuela ‘Uninvestable’ (theDeepDive)

• 2.1 million temporary residents will have expired or expiring permits this year. But will they leave Canada? (CBC)

• Trump Demands 10% Credit Card Cap, But Can’t Enforce It (theDeepDive)

• In a pivot, Carney seeks to reset relationship with China, build trade ties (Globe)

What’s the latest?

• Oil: Crude oil jumped ~3% after Trump canceled talks with Iran and signaled support for nationwide protests. U.S. crude rose to $61.46/bbl (+3.3%) and Brent to $65.86/bbl (+3.1%) amid fears of supply disruption. Iran, a major OPEC producer, is facing widespread unrest, internet shutdowns, and reports of hundreds killed, increasing geopolitical risk priced into oil.

• Survey: A TD survey shows ~67% of Canadians plan to cut spending in 2026, up from 51% last year, led by Gen Z (86%) and millennials (77%). Top cutbacks include eating out (55%), retail purchases (53%), and entertainment (44%). Economic concerns are rising: 71% expect higher living costs, 59% expect a weaker economy, and 52% foresee job market weakness.

• Market: Canada’s TSX slipped 11 points to 32,863 despite higher energy stocks as oil rose to US$61.30 (+$1.80). U.S. markets fell, with the Dow -287, S&P 500 -13, and Nasdaq -31. The Canadian dollar weakened to 71.97 US cents, while gold rose to US$4,619/oz.

• Layoffs: Statistics Canada plans to cut ~850 positions over two years, starting with 100 immediate layoffs, impacting ~12% of its executive team. The cuts come as part of a broader federal plan to reduce the public service from ~368,000 employees (2024 peak) to 330,000 by 2028–29, including 28,000 job cuts and $60B in savings by 2029. Unions warn the reductions risk long-term data capacity loss, arguing Statistics Canada staffing had risen to 7,274 employees in 2025, partly due to a 2023 agency merger.

• Geopolitics: Greenland PM Jens-Frederik Nielsen publicly rejected U.S. takeover threats, stating Greenland chooses Denmark, NATO, and the EU over the U.S. The comments come ahead of White House talks and amid renewed pressure from President Trump, who cites national security and Arctic competition with Russia and China. Opinion polls show strong Greenlandic opposition to U.S. control, while Denmark has responded by boosting Arctic defense spending and infrastructure, including 16 additional F-35 jets.

Massive BC Moly-Copper-Tungsten Project

The stock market and stuff

• Former NYC Mayor Linked to $3.4M Rug Pull Accusations Over Memecoin (theDeepDive)

• G Mining Produces 171,871 Ounces Of Gold In 2025, Falling Short Of Guidance (theDeepDive)

• US senators introduce long-awaited bill to define crypto market rules (Reuters)

• CME Flips Metals Margin Math To Notional Percentages (theDeepDive)

In the juniors

• Mercado Begins Field Exploration At Copalito In Advance Of Planned Drill Program (theDeepDive)

• Vizsla Silver Reports Additional High Grade Intercepts At Copala With Geotechnical Drilling (JMN)

• Aya Gold Fails To Hit Guidance At Zgounder With 4.8 Million Ounces Of Silver Production In 2025 (theDeepDive)

FULL DISCLOSURE: PTX Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of PTX Metals. The author has been compensated to cover PTX Metals 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.