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1) Robert Friedland has become the latest prominent figure in the Canadian mining industry to come support Teck Resources and defend it against Glencore's hostile takeover. Mr. Friedland let investors know that the takeover attempt of Teck, "a Canadian champion," should not be taken lightly. “Losing another quintessential Canadian support mechanism to multinationals could corporatize and hollow out our unique ecosystem that has so successfully explored our vast landmass,” Friedland said in a tweet. Robert highlighted Teck's history of supporting juniors in Canada, including his own, Diamond Field Resources that discovered Voisey's Bay, the "richest nickel discovery in the last 50 years. Mr. Friedland said that Glencore's offer undervalues Teck and its assets, while many other investors would be interested in buying or partnering with Teck post split of its coal and metal units.
2) Tin prices have soared to their highest as news of a mining ban in Myanmar, a major producer of the metal, spooked the market with possible shortages in the future. Myanmar's Wa state will suspend mining from August according to an information official from the United Wa State Army, wanting to protect its mining resources. According to the US Geological Survey, Myanmar has the world's third largest reserves of tin and accounted 77% of China's tin ore imports in 2022. "There were problems in Myanmar in January and February and there was a dip in Chinese production. Supplies have been tight," said Jeremy Pearce at the International Tin Association. Wang Tao, a Reuters market analyst, said that tin could head towards $31,000, depending on how this ban lasts.