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How to Invest in Gold Royalty and Streaming Stocks

Investing 15 Mins Read

Gold royalty companies offer investors exposure to gold and silver with the benefits of diversification, lower risk and a steady income stream.

Royalty companies operating in the resource sector will typically agree to provide funding for the exploration or development of a resource in exchange for a percentage of revenue from the deposit if it begins producing. Similarly, a company with a streaming model may work out an agreement with a resource company for a share of the metal produced from a deposit in exchange for an investment.

These kinds of arrangements benefit both parties. Streamers get access to the underlying commodity at a fixed price and are shielded from cost overruns and spikes in production. Further, if there is a price decrease the metals can be warehoused until the market conditions improve.

In both cases, mining companies receive considerable upfront investment during the expensive construction and expansion phases, and unlike loans these investments have longer-term payouts at a fixed amount.

Let’s take a deeper look at how royalties and streaming works, the benefits of the royalty business model, and the gold and silver royalty and streaming stocks you can invest in.

In this article

    How do gold and silver royalties work?

    Gold and silver royalty agreements involve royalty companies agreeing to provide funding for the exploration or development of a precious metals resource in exchange for a percentage of revenue from the deposit if it begins producing metals.

    The foundation for royalties dates back a few hundred years. Originally, they were payments made to the British monarchy in exchange for miners’ rights to operate gold and silver mining operations on lands held by the crown. Today, these arrangements still exist, with mining operators paying the government a share of the revenues generated from exploiting resources on public lands.

    The first royalty paid to a company in the gold sector was an agreement in 1986 in which Franco-Nevada (TSX:FNV,NYSE:FNV) made a US$2 million investment into Western States Minerals’ Goldstrike small heap-leach mine in Nevada, US, for a 4 percent share of revenues collected from the mine. Western States was sold the same year to Barrick Gold (TSX:ABX,NYSE:GOLD). Barrick discovered a far larger resource at the site, and the royalty has since earned Franco-Nevada more than US$1 billion and continues to pay out approximately US$20 million per year.

    This early example set a precedent for the industry. It saw Franco-Nevada, which was then a gold exploration company, lock itself into what became one of the largest gold mineral resources in the world at a relatively low overhead while avoiding future costs associated with the growth and maintenance of the mine.

    How do gold and silver streams work?

    Gold and silver streams work in a similar manner to the royalty model but returns are in the form of physical metals rather than funds. In return for investing in an asset, a gold streaming company may work out an agreement with a resource company for a share of the metal produced from a deposit, or for the ability to purchase the metal at a lower price than market value.

    This is also a popular model with base metal mining companies whose operations result in gold and/or silver by-products. In these cases, gold and silver streaming companies may work out a deal with a base metal mining operation to take delivery of a certain amount of precious metals at an agreed upon price.

    The Goldstrike royalty made Franco-Nevada what it is today, but its largest contributing asset in its portfolio is a deal with Lundin Mining (TSX:LUN,OTC Pink:LUNMF) for a stream of the gold and silver resources extracted from its Candelaria copper mine in Chile.

    Under the terms of the deal, which was part of Lundin’s 2014 acquisition of Freeport-McMoRan’s (NYSE:FCX) stake in Candelaria, Franco-Nevada provided a US$648 million deposit in exchange for a 68 percent stream of the asset’s silver and gold. This will decrease to 40 percent once 720,000 ounces of gold and 12 million ounces of silver have been delivered.

    While Franco-Nevada does have to pay for the metal, the agreed upon amount is far under the current market value. At the time, the deal was set at US$400 for each ounce of gold and US$4 per ounce of silver with a 1 percent inflationary adjustment, or market price if that was less.

    Are royalty and streaming companies a good investment?

    Royalty and streaming companies are largely seen as a lower-risk investment than mining companies. Lower operational costs and higher portfolio diversification means they are hedged against a mine shutdown, natural disaster, market forces or the politics that may affect the nature of an operation or project. However, that’s not to say royalty and streaming deals aren’t without their risks.

    In many ways, gold royalty companies are like venture capitalists in the tech industry, working to fund many projects in the hopes that some will see big payoffs that offset the loss from the ones that don’t make it. This means they need large access to funding in order to build their portfolios.

    To get funding, royalty and streaming companies have several options: using cash on hand, raising debt through loans or issuing more shares. Each of these options carries risk. Using cash to pay for investments could reduce the size of the safety net and eat into company liquidity, debt needs to be managed to ensure that payments don’t exceed income and the issuance of stock could lead to an overall devaluation of share price and impact investor sentiment.

    Once companies have developed strong cash flows and good liquidity, they are able to take advantage of their own reserves, without the need to worry about loans or stock dilution. The same cannot be said for the up-and-coming companies who need to rely on external funding to make deals, making them riskier.

    These companies provide a good entry point for investors with lower share price, and have more potential to return higher percentage gains in share price, they also bear more risk. With more reliance on raising external capital, there is a greater need for deals to be successful and a greater chance for a company to incur more debt load or stock dilution.

    Diverse portfolios can help reduce the risk associated with a royalty company, and companies like Franco-Nevada have the industry knowledge and financial capital to take some risks. As of February 2025, the company has 430 assets on their books; of those, 119 are producing, and 38 are in the advanced stages of development. It’s the 273 more that are in the exploration phase, many of which will never provide returns, that represent the greatest risk.

    Of course, unforeseen events can affect both mining and royalty companies alike, particularly when assets that take up a larger percentage or a portfolio are affected. Franco-Nevada had more than US$1 billion invested in First Quantum’s (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine before it was shuttered by the Panamanian government following protests at the end of 2023. The mine brought in US$223.3 million for Franco-Nevada in 2022 and represented nearly a quarter of its precious metal income. While it fared better than First Quantum, the royalty company’s share price took a significant hit.

    Top 5 gold and silver royalty companies

    The biggest companies in the precious metals royalty and streaming space have long histories and have built positive reputations on the backs of strong investments. They offer a means for investors to de-risk an entry into the gold sector by maintaining an arms-length attachment to it.

    The five large-cap gold and silver royalty and streaming companies on this list had market caps above $1 billion in their respective currencies as of February 24, 2026.

    1. Wheaton Precious Metals (TSX:WPM,NYSE:WPM)

    Market cap: C$96.95 billion
    Share price: C$215.66

    Wheaton Precious Metals was established in 2004 as Silver Wheaton with a focus on silver streaming. Goldcorp held a majority interest, but began to reduce it in 2006 and by 2008 had completely divested itself. By that time, Silver Wheaton had begun to diversify into other precious metals. The following year, Silver Wheaton acquired rival silver streaming stock Silverstone Resources in a C$190 million deal.

    Silver Wheaton changed its name in 2017 to Wheaton Precious Metals and has since built itself into one of the largest players in the gold and silver royalty and streaming space, with investments in 23 operating mines and 25 development projects across five continents.

    Included in Wheaton’s assets are investments in Newmont’s (TSX:NGT,NYSE:NEM,ASX:NEM) Peñasquito mine in Mexico, Sibanye Stillwater’s (NYSE:SBSW) Stillwater and East Boulder mines in Montana, United States, and Hudbay Minerals’ (TSX:HBM,NYSE:HBM) Copper World Complex project in Arizona, US.

    2. Franco-Nevada (TSX:FNV,NYSE:FNV)

    Market cap: C$71.55 billion
    Share price: C$374.47

    A trailblazer in the gold royalty business, Franco-Nevada has set a high bar. The current iteration of the company was spun out of Newmont in what became a C$1.1 billion initial public offering, one of the biggest IPOs of 2007.

    Franco-Nevada now has a portfolio of royalties and streams on 119 producing assets around the world including gold, silver, base metal and oil and gas operations, which generate more than US$1.2 billion for the company annually. Additionally, the company’s portfolio includes 38 advanced-stage assets and 273 exploration-stage assets.

    Among the producing assets for which Franco-Nevada has precious metals streams and royalties are Glencore’s (LSE:GLEN,OTC Pink:GLCNF) Antapaccay mine in Peru, Agnico Eagle’s (NYSE:AEM,TSX:AEM) Detour Lake mine in Ontario, Canada, and Gold Fields’ (NYSE:GFI) Salares Norte mine in Chile.

    See the sections above for more information on Franco-Nevada’s royalty and streaming deals.

    3. Royal Gold (NASDAQ:RGLD)

    Market cap: US$24.43 billion
    Share price: US$288.04

    Royal Gold got its start in 1981 as oil and gas exploration and production company Royal Resources.

    Responding to shifts in the overall resource market, by 1987, Royal Gold was born with a focus on building a portfolio of minority positions in significant gold properties operated by major mining firms.

    Today, Royal Gold is a leading precious metals streaming and royalty company with interest in about 400 properties, of which 82 are producing assets, across 31 countries.

    About half of its portfolio came from its October 2025 acquisition of Sandstorm Gold and Horizon Copper, which combined for 230 royalty assets, including 40 producing assets.

    Among Royal Gold’s royalty assets are Barrick Mining (TSX:ABX,NYSE:B) and Newmont’s Cortez mine in Nevada, US, Teck’s (TSX:TECK.A,TECK.B,NYSE:TECK) Andacollo mine in Chile and Centerra Gold’s (TSX:CG,NYSE:CGAU) Mount Milligan mine in British Columbia, Canada.

    4. Triple Flag Precious Metals (TSX:TFPM)

    Market cap: C$10.96 billion
    Share price: C$53.67

    Triple Flag Precious Metals was founded in 2016 by Shaun Usmar, a former Barrick executive and current CEO of Vale’s (NYSE:VALE) Vale Base Metals.

    Although the company is a relative newcomer to the royalty and streaming space, it has quickly established itself as a frontrunner through several significant deals. Among them was the acquisition of Maverix Metals in January 2023, which helped them become the fourth-largest precious metals royalty company.

    Today, Triple Flag has a global portfolio of gold and silver assets on nearly every continent, comprising 33 production assets and 206 in development or exploration.

    Highlights from its portfolio include streaming and royalty deals on Evolution Mining’s (ASX:EVN,OTC Pink:CAHPF) Northparkes mine in New South Wales, Australia, Nexa Resources’ (NYSE:NEXA) Cerro Lindo mine in Peru, and Westgold Resources’ (ASX:WGX,OTC Pink:WGXRF) Beta Hunt mine in Western Australia.

    5. OR Royalties (TSX:OR,NYSE:OR)

    Market cap: C$11.49 billion
    Share price: C$62.31

    Previously named Osisko Gold Royalties, OR Royalties was created in 2014 as a spinoff deal between Osisko Mining (TSX:OSK), Yamana Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM). The deal was made in an attempt to prevent a hostile takeover of Osisko Mining and its Canadian Malartic gold complex by Goldcorp, now part of Newmont.

    In the deal, OR Royalties carried with it a 5 percent net smelter return royalty from the Canadian Malartic mine. Now owned by Agnico Eagle, the complex in Québec remains a cornerstone of the royalty company’s business today.

    The gold and silver royalty and streaming company has gone on to amass royalties, streams and offtakes for 195 assets, 22 of which are producing, across six continents.

    The majority are located in North America, including one of the most well-known gold-producing mines in the world, Agnico Eagle’s Canadian Malartic complex in Québec, as well as SSR Mining’s (NASDAQ:SSRM,TSX:SSRM) Seabee mine in Saskatchewan, Canada, and Kinross Gold’s (TSX:K,NYSE:KGC) Bald Mountain mine in Nevada.

    Small-cap gold and silver royalty companies

    There are also small-cap gold and silver royalty and streaming companies you can invest in and offer a lower-cost option for investors who are comfortable with a little more risk. Like their larger counterparts, small-cap gold royalty stocks offer a lower-risk investment than getting into a small-cap mining company but still provide access to the underlying precious metals market.

    The five small-cap gold and silver royalty companies on this list had market caps above $10 million in their respective currencies as of February 24, 2026.

    1. Gold Royalty (NYSEAMERICAN:GROY)

    Market cap: US$1.04 billion
    Share price: US$4.59

    Gold Royalty is building a diversified portfolio of more than 240 gold royalty and gold streaming interests based on net smelter return royalties on properties in the Americas.

    The company’s revenue generating investments include Agnico Eagle’s Canadian Malartic complex in Québec, DPM Metals’ (TSX:DPM) Vareš mine in Bosnia and Herzegovina, and Discovery Silver’s (TSX:DSV,OTCQX:DSVSF) Borden mine in Ontario.

    2. Metalla Royalty & Streaming (TSXV:MTA,NYSE:MTA)

    Market cap: C$1.04 billion
    Share price: C$11.67

    Metalla Royalty & Streaming focuses on gold, silver and copper projects. The company’s royalty model involves acquiring royalties and streams by offering resource companies Metalla shares and cash.

    The mid-tier royalty and streaming company’s asset portfolio includes more than 100 projects across North America, South America and Australia. Its cornerstone assets include IAMGOLD (TSX:IMG,NYSE:IAG) and Sumitomo Metal Mining’s (OTC Pink:SSUMF,TSE:5713) Côté gold mine in Ontario, Canada, and First Quantum Minerals’ (TSX:FM) Taca Taca project in Argentina.

    3. Vox Royalty (TSX:VOXR,NASDAQ:VOXR)

    Market cap: C$518.16 million
    Share price: C$7.81

    Vox Royalty is a precious metals focused royalty company first established in 2014. The company has acquired an asset portfolio of 70 royalties, 32 of which were added since 2019, across Australia, the Americas and South Africa.

    Roughly 70 percent of its portfolio is dedicated to gold, silver and platinum group companies. The remainder of its portfolio is diversified across a wide range of resources, including copper, uranium, iron and diamonds.

    The majority of the eight producing assets in its portfolio are located in Australia, including a 1 percent net smelter return from Black Cat Syndicate’s Bulong gold mine, and a 2.5 percent net smelter return from Northern Star Resources’s (ASX:NST,OTCPL:NESRF) Otto Bore gold mine.

    As for development stage projects, its assets in Canada include a 1 percent net smelter return on NexGold Mining’s (TSXV:NEXG,OTCQX:NXGCF) Goldlund project and a 2 percent gross proceeds royalty on Alamos Gold’s (TSX:AGI,NYSE:AGI) Lynn Lake project in Canada.

    4. Sailfish Royalty (TSXV:FISH,OTCQX:SROYF)

    Market cap: C$324.08 million
    Share price: C$3.79

    Founded in 2014, Sailfish Royalty’s asset portfolio is much smaller than the other gold royalty stocks on this list. It consists of one producing mine as well as two development-stage and two exploration-stage properties in the Americas.

    In Nicaragua, Sailfish has a gold stream equivalent to a 3 percent net smelter return on Mako Mining’s (TSXV:MKO,OTCQX:MAKOF) San Albino gold mine and a 2 percent net smelter return on the area surrounding the mine. The company also holds a 13,500 ounce per quarter silver stream at the property, which was set to expire in May 2025. At the end of April 2025, Sailfish chose to exercise its option to purchase all silver for the life of the mine.

    5. Nations Royalty (TSXV:NRC,OTCQB:NRYCF)

    Market cap: C$160.68 million
    Share price: C$1.16

    Nations Royalty is a fledgling royalties company that first began trading in June 2024 and holds Indigenous-owned royalties. It was founded by the Nisga’a Nation of British Columbia, Canada, and by Wheaton Precious Metals co-founder Frank Giustra. It is the first publicly traded company in Canada to have a majority Indigenous ownership.

    The company has a portfolio of royalties covering one production and four development assets, all located in Northwestern British Columbia. The majority of these royalties are in the form of annual payments equal to a percentage of the mineral tax the assets’ operators pay.

    The producing mine in its portfolio is Newmont’s (NYSE:NEM,ASX:NEM) Brucejack gold-silver operation. The four development assets consist of Ascot Resources’ (TSX:AOT,OTCID:AOTVF) Premier and Red Mountain projects, Seabridge Gold’s (TSX:SEA,NYSE:SA) KSM project and New Moly’s Kitsault molybdenum project.

    Gold and silver royalty ETFs

    Those who want more broad exposure to the precious metals markets may want to buy shares of an exchange-traded fund that includes gold and silver royalty and streaming stocks. Here are a few to get you started, including ASX gold ETFs and a US gold ETF.

    Betashares Global Royalties ETF (ASX:ROYL)
    The Betashares Global Royalties ETF is an Australian ETF that tracks the performance of an index of global companies that earn a significant amount of their revenue from royalty income, royalty-related income and intellectual property income. The fund’s top two holdings are Wheaton Precious Metals and Franco-Nevada, with Royal Gold and OR Royalties also among its significant holdings.

    Betashares Global Gold Miners ETF (ASX:MNRS)
    The Betashares Global Gold Miners ETF tracks the performance of an index of the world’s largest gold mining companies outside of Australia, hedged into Australian dollars. Wheaton Precious Metals, Franco-Nevada and Royal Gold are also among the fund’s top holdings.

    VanEck Gold Miners ETF (ARCA:GDX)
    The VanEck Gold Miners ETF is a US gold ETF that aims to replicate the performance of the MarketVector Global Gold Miners Index by holding large-cap gold mining stocks and precious metals royalty companies. As with the other gold ETFs on this list, its top holdings include Franco-Nevada, Wheaton Precious Metals and Royal Gold.

    Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

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    Investing

    Blackstone Minerals

    Investing 6 Mins Read

    Investor Insights

    Blackstone Minerals, through its subsidiary Crescent Mining and Development Corporation (CMDC) is focused on the Mankayan copper-gold project, an advanced exploration project in the Philippines. Mankayan is one of Southeast Asia’s largest undeveloped copper-gold porphyry, offering leveraged exposure to tightening global copper supply and increased copper demand.

    Overview

    Global decarbonization and electrification are driving sustained growth in copper demand, while new, large-scale copper discoveries remain scarce and development timelines lengthen. Long-life, high-quality copper projects with scale, grade, and infrastructure access are increasingly strategic and required to meet this future demand.

    Historical Drilling Results at Mankayan

    Blackstone Minerals (ASX:BSX), through CMDC, is advancing the Mankayan Copper-Gold Project in the Philippines following its merger with IDM International.

    Mankayan stands out for its size, grade, and geological continuity, supported by extensive historical drilling and proximity to existing infrastructure. These attributes underpin a flexible development pathway and potential for long-life production.

    As part of a strategic move, Blackstone has streamlined its asset base to prioritize Mankayan. A previously advanced nickel project in Vietnam is now subject to a binding strategic agreement with a local partner, materially reducing holding costs while allowing management and capital to be focused on the Company’s copper-gold strategy.

    Company Highlights

    • Flagship Copper-Gold Asset: Mankayan is a globally significant copper-gold porphyry system with a large 793 million tonne JORC-compliant resource.
    • Indigenous Approval – The Mankayan Project holds a 25-year Mineral Production Sharing Agreement and has completed the social license with an FPIC finalized and a MoA in place.
    • Scale and Development Optionality: A large, continuous mineral system supporting both staged, higher-grade development and long-life bulk mining scenarios.
    • Established Mining District: Located in Northern Luzon, Philippines, near existing mining operations and infrastructure.
    • 2026 Clear and focused roadmap: to derisk the Mankayan Project by advancing its Pre-Feasibility Study.
    • Strengthened Leadership: Strong in-country team along with recent Board and management appointments enhance technical, operational, and regional capability.
    • Strong Copper Leverage: Copper is a critical metal for electrification, renewable energy, and grid infrastructure, with long-term supply constraints supporting project optionality.

    Key Project

    Mankayan Copper-Gold Project – Philippines

    The project is located in the prolific mineral belt of Northern Luzon, approximately 340 km north of Manila by road and around 2.5 km from the operating Lepanto gold mine and the Far Southeast project area.

    Mankayan is one of the largest undeveloped copper-gold porphyry systems in Asia, extending over approximately 1,100 metres of strike and 600 metres of width, with mineralisation open along strike and at depth.

    More than 56,000 metres of historical diamond drilling support a JORC compliant (2012) mineral resource estimate of 793 million tonnes at 0.35 percent copper and 0.38 grams per ton (g/t) gold, equivalent to 0.65 percent copper equivalent (CuEq*) at a 0.25% CuEq cut-off. Within this, a high-grade core of 170 million tonnes at 0.48 percent copper and 0.58 g/t gold, 0.93 percent (CuEq*) at a 0.8 percent cutoff provides potential for staged development scenarios.

    Notable historical intercepts include:

    • 911 m at 1.00 percent CuEq, including 253 m at 1.43 percent CuEq
    • 543 m at 1.08 percent CuEq, including 277 m at 1.43 percent CuEq
    • 1,119 m at 0.86 percent CuEq, including 352 m at 1.15 percent CuEq
    • 754 m at 1.03 percent CuEq, including 430 m at 1.21 percent CuEq

    Recent field activities have identified additional surface copper-gold mineralisation proximal to the main deposit, with rock-chip samples returning up to 6 g/t gold and 1.9 percent copper, highlighting further exploration upside across the broader project area.

    CMDC is in the process of commencing a pre-feasibility study encompassing various mining scenarios and environmental studies.

    Management Team

    Geoff Gilmour – Executive Chairman

    Appointed following Blackstone’s merger with IDM, Geoff Gilmour brings more than 30 years of distinguished leadership in the junior resources sector, with a proven track record of value creation. His career includes senior executive roles as Managing Director of Amex Resources, Brightstar, and Rift Valley Resources, and is highlighted by the successful creation of Andean Resources.

    Gilmour has also served as chairman of IDM, where he played a pivotal role in advancing the Mankayan Project and leading the company through its merger with Blackstone Minerals. He currently serves as a director of Blackstone Minerals Ltd, continuing to drive strategic growth and development.

    Oliver Cairns –Non-executive Director

    Oliver Cairns brings key, hands-on experience to the company’s flagship Mankayan project in the Philippines and was part of the IDM International team that was responsible for the acquisition and management of the Mankayan project before the merger with

    Blackstone in June 2025. He has deep familiarity with the Mankayan asset, including four years of actively working with the in-country team. In addition, Cairns offers more than 25 years of strategic corporate, IR and commercial experience.

    Greg Cunnold – Non-executive Director

    Greg Cunnold is a geologist with over 30 years of experience in the evaluation, exploration, and development of mineral deposits. Cunnold has worked on base and precious metals deposits, bulk commodities, rare earth elements, industrial minerals, and critical mineral projects. His assignments have spanned the globe, including Africa, Asia, Australia, Europe, and South America.

    Over the years, Cunnold has played a pivotal role in numerous projects, contributing to the discovery, delineation, and development of valuable mineral deposits. His expertise ranges from grassroots exploration through to definitive feasibility studies. Cunnold is a Competent Person as defined by the JORC and NI 43-101 codes and has served corporately as a board member of private, public unlisted, and listed companies.

    Mark Williams – Non-executive Director

    Mark Williams’ career in the mining industry spans more than three decades and includes operational experience across a diverse range of assets in both mature and emerging global markets, with extensive in-country experience in the Philippines.

    Most recently, Williams led mid-tier Australian gold producer Red 5 Limited (ASX: RED) for 10 years, overseeing an operational turnaround of its foundational asset in the Philippines, the Siana Gold Project, before initiating a transformational pivot to the West Australian goldfields through the acquisition, financing, development, construction and operation of the King of the Hills Gold Mine growing Red 5 to a $1.5 billion company in 2024 prior to its merger with Silver Lake Resources.

    James Bahen – Company Secretary

    James Bahen is a director and equity partner of SmallCap Corporate. He commenced his career in audit and assurance with an international chartered accounting firm. He is currently a non-executive director and company secretary to a number of ASX-listed companies and has a broad range of corporate governance and capital markets experience. Bahen is a member of the Governance Institute of Australia and holds a Graduate Diploma of Applied Finance and a Bachelor of Commerce degree majoring in accounting and finance.

    This post appeared first on investingnews.com

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    Trump awards back-to-back Medals of Honor during State of the Union address

    Politics 2 Mins Read

    President Donald Trump used part of his State of the Union address on Tuesday to spotlight American military heroism, awarding U.S. Army Chief Warrant Officer Eric Slover and U.S. Navy Captain E. Royce Williams with the nation’s highest military honor. 

    Recounting what he described as a high-risk January raid targeting Venezuelan leader Nicolás Maduro, Trump detailed Slover’s role in leading the mission. He said Slover was piloting a Chinook helicopter transporting U.S. forces into heavily fortified enemy territory under the cover of darkness. As the aircraft approached the target, it came under intense machine gun fire from multiple directions.

    ‘There were many heroes on that January raid to capture Maduro. Really great heroes. It was very dangerous,’ Trump said, describing the perilous mission.

    ‘He absorbed four agonizing shots, shredding his leg into numerous pieces,’ the president continued, telling lawmakers that ‘the success of the entire mission and the lives of his fellow warriors hinge on Eric’s ability’ to keep flying as blood ‘pour[ed] down the aisle.’

    Slover, still recovering from his wounds, attended the address with his wife, Amy, as he was presented with the nation’s highest military award.

    Trump also presented the Medal of Honor to Williams, a 100-year-old Korean War veteran and retired Navy captain, for his extraordinary combat valor during a long-classified 1952 aerial dogfight over the Sea of Japan. 

    Flying a single F9F Panther jet from the USS Oriskany, Williams engaged and shot down four Soviet MiG-15 fighters during a 35-minute battle despite being heavily outnumbered and flying an aircraft considered inferior in speed and climb rate. 

    At the time, the U.S. government kept the encounter secret to avoid escalating tensions with the Soviet Union, which was not officially acknowledged as a combatant in the war. Decades later, after the details were declassified, Williams’ actions were formally recognized with the nation’s highest military honor.

    The back-to-back Medal of Honor ceremonies underscored the administration’s emphasis on military service, drawing extended applause from lawmakers and guests in the chamber.

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    President Donald Trump called out insider trading on Capitol Hill during his address, urging Congress to ‘pass the Stop Insider Trading Act without delay’ while also taking a shot at Speaker Emerita Nancy Pelosi. 

    ‘Let’s also ensure that members of Congress cannot corruptly profit from using insider information,’ Trump said, prompting members of both parties to stand.

    Trump responded, ‘They stood up for that. I can’t believe it. I can’t believe it. Did Nancy Pelosi stand up — if she’s here? Doubt it.’

    The Pelosi family’s financial disclosures have frequently been cited by critics calling for stricter limits on congressional stock trading.

    The Stop Insider Trading Act, introduced by Rep. Bryan Steil, would ban members of Congress, their spouses and dependent children from purchasing publicly traded stocks and require advance public notice before any sale, aiming to go beyond the 2012 STOCK Act’s reporting requirements.

    A source familiar told Fox News Digital that Pelosi was applauding until Trump called her out.

    The moment captured attention on social media, including from Fox News contributor Guy Benson, who posted on X, ‘lol the Pelosi ad lib.’

    ‘LMAO at Trump’s callout of Pelosi on insider trading,’ columnist Josh Hammer posted on X. 

    ‘LOL Trump is the funniest President of all time, zero debate,’ Newsbusters Managing Editor Curtis Houck posted on X. 

    Trump also announced a new retirement savings proposal for workers without access to employer matching, promising the federal government would match contributions up to $1,000 a year so more Americans can benefit from market gains.

    Fox News Digital reached out to Pelosi’s office for comment.

    Fox News Digital’s Morgan Phillips contributed to this report

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    Sen Mullin urges spring breakers to cancel trips to Mexico amid country’s violence: ‘No one should be going’

    Politics 3 Mins Read

    Sen. Markwayne Mullin, R-Okla., on Tuesday urged spring breakers with plans to visit Mexico to cancel their trips due to violent clashes in the country triggered by the Mexican army’s killing of cartel leader Nemesio Rubén Oseguera Cervantes, known as ‘El Mencho,’ earlier this week.

    Mullin made the comments during an appearance on CNBC’s ‘Squawk Box,’ in which he said his chiropractor was still planning to visit a popular tourist destination in Mexico.

    ‘Anybody that’s planning on going to Mexico for spring break … I mean, my chiropractor called me yesterday and said he’s still planning on going to Cancún, I said, ‘Are you crazy?” Mullin said.

    ‘No one should be going down there right now, it is very volatile and the United States is laser-focused on watching what’s taking place,’ he continued.

    The senator’s comments come after Mexican troops conducted operations on Sunday in Tapalpa, Jalisco, targeting El Mencho, a former police officer who became the leader of the Cartel de Jalisco Nueva Generación, which U.S. authorities have identified as a major supplier of fentanyl to the United States.

    El Mencho carried a $15 million U.S. bounty and rose to power following the arrest of Joaquín ‘El Chapo’ Guzmán, the former head of the Sinaloa Cartel. Over roughly the past 15 years, the Cartel de Jalisco Nueva Generación has expanded from a regional criminal group into a global trafficking organization operating from its stronghold in Jalisco.

    The Mexican Defense Department said the operation was conducted as part of bilateral coordination and cooperation with the U.S., and that U.S. authorities provided complementary intelligence that contributed to El Mencho’s killing.

    After El Mencho’s death, cartel members burned cars and blocked roads in several Mexican states. Violent clashes were also reported in parts of western Mexico.

    Mexican authorities later said that the security situation had been ‘stabilized.’

    ‘The security situation has now stabilized following targeted operations in Jalisco,’ the Mexican Embassy in the U.S. said on Tuesday.

    ‘Federal and State authorities are proceeding to reopen transit corridors and restore public services smoothly,’ the embassy continued. ‘Airline operations are normal, and international carriers are resuming flights today. Puerto Vallarta International Airport has reopened to domestic traffic.’

    The embassy added: ‘If traveling through Jalisco, some local security measures remain in place, while authorities are restoring airport operations to full capacity. We are working with international partners to ensure safety and stability at all transit hubs and tourist destinations.’

    But the U.S. State Department’s travel advisory for Mexico remains in effect. The U.S. government earlier issued a shelter-in-place order for Americans in Mexico, but that order has since been lifted.

    The Cartel de Jalisco Nueva Generación is considered the most powerful cartel in Mexico with an estimated 19,000 members and operations across 21 of the country’s 32 states.

    The Trump administration designated the cartel as a foreign terrorist organization.

    Mullin said on Tuesday that cartels splitting after Mexico’s operation is a ‘great opportunity for us, and Mexico, to take them all out.’

    ‘Now, are we going to eliminate all the drug trafficking in the world? Absolutely not. But can we get a handle on it again? Absolutely,’ he added.

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    Trump’s ‘home run’ SOTU speech sparks praise from conservatives online while leaving Democrats seething

    Politics 3 Mins Read

    Many conservatives quickly took to social media to praise President Trump’s State of the Union speech, which lasted just under two hours, energizing Republicans and riling Democrats.

    ‘It’s not just an excellent speech, it’s mostly POTUS himself,’ conservative radio host Mark Levin posted on X. ‘ He’s a truly historic leader. I know it drives DC nuts. Who cares.’

    ‘Trump is a colossus; an amazingly patriotic speech,’ FOX Business Senior Correspondent Charles Gasparino posted on X. 

    ‘This is the best State of the Union Address I’ve ever seen,’ conservative commentator Buck Sexton posted on X. ‘Not just by Trump. By any President.’

    ‘President Trump’s State of the Union put America’s greatness on full display—celebrating our war heroes, everyday heroes, and Olympic champions,’ former GOP House Speaker Kevin McCarthy posted on X. 

    ‘The President delivered a home run State of the Union tonight,’ GOP Rep. Chip Roy posted on X. 

    Democrats on social media struck a different tone, with many prominent faces of the party bashing the president as the speech developed, including California Gov. Gavin Newsom who accused Trump of ‘destroying the country’ and posted ‘that was boring.’

    ‘That State of the Union speech by Trump was humiliating for both him and the Republican Party,’ liberal influencer Harry Sisson posted on X. ‘He rambled incoherently and Republicans clapped like seals the whole time no matter what was said. I’m glad military heroes were honored, but he lied the entire time.’

    Trump’s speech, which was the longest State of the Union in history, focused on what he called a ‘turnaround for the ages’ in the United States during his second term. 

    Trump invited a swath of various guests to the speech, including everyday Americans, Turning Point USA co-founder Charlie Kirk’s widow, Erika Kirk, the U.S. men’s hockey team fresh off their gold medal win, military members who acted heroically in the time of crisis and families who have suffered tragedy at the hands of illegal immigrants.

    Trump’s speech came as the GOP prepares to defend its majority in the House and Senate as the November midterms loom, and also as the nation prepares to celebrate its 250 years of independence.

    ‘This July 4th, we will mark two and a half centuries of liberty and triumph, progress and freedom in the most incredible and exceptional nation ever to exist on the face of the earth. And you’ve seen nothing yet,’ Trump said. ‘We’re going to do better and better and better. This is the golden age of America.’

    Fox News Digital’s Emma Colton contributed to this report
     

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    Jasmine Crockett trashes Trump, boycotts his speech: ‘The current state of our union is grim’

    Politics 2 Mins Read

    Democratic Rep. Jasmine Crockett of Texas said Tuesday that she would ‘boycott’ President Donald Trump’s State of the Union speech.

    She blasted him as a ‘wannabe king’ and described the present state of the union as ‘grim.’

    ‘Tonight, I will boycott Donald Trump’s State of the Union address,’ she said in the statement. ‘The American people deserve better than a low-down, scamming wannabe king who plans to stand at that podium and spew more lies; and I refuse to legitimize the weaponization of the federal government, blatant lies and corruption, and the destruction of our Constitutional principles and democratic norms.’

    Crockett, who is currently running in the Texas Democratic U.S. Senate primary, said she was not sent to D.C. ‘to coddle Donald Trump’s ego.’

    ‘Instead of wasting time listening to Donald Trump lie to the American people, I will be back in Texas talking with families about the true state of our union: cuts to SNAP and Medicaid, rogue ICE agents on our streets, the Epstein cover-up, attacks on the First Amendment, and the unlawful tariffs that have made life too expensive for Texans,’ she said in the statement.

    She indicated that the president has an ‘authoritarian agenda.’

    ‘The current state of our union is grim, but it is not permanent. I will spend tonight continuing the fight to actually strengthen the State of the Union,’ she said in the statement.

    Fox News Digital reached out to the White House for comment on Wednesday morning.

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    What Was the Highest Price for Copper?

    Investing 12 Mins Read

    Strong demand in the face of looming supply shortages has pushed copper to new heights in recent years.

    With a wide range of applications in nearly every sector, copper is by far the most industrious of the base metals. In fact, for decades, the copper price has been a key indicator of global economic health, earning the red metal the moniker “Dr. Copper.” Rising prices tend to signal a strong global economy, while a significant longer-term drop in the price of copper is often a symptom of economic instability.

    After bottoming out at US$2.17 per pound, or US$5,203.58 per metric ton (MT), in mid-March 2020, copper has largely been on an upward trajectory.

    Why is copper so expensive in 2026? Higher copper prices over the past few years have largely been attributed to a widening supply/demand gap. Copper mining and refining activities simply haven’t kept up with the rebound in economic activity in recent years, and rising demand from AI infrastructure and electrification are raising demand even higher.

    Now, global copper mine supply is tightening at a time when US President Donald Trump’s tariffs are placing further strains on copper supply. In response, copper prices hit multiple new records in 2025 and 2026.

    In this article

      What key factors drive the price of copper?

      Robust demand has long been one of the strongest factors driving copper prices. The ever-growing number of copper uses in everyday life — from building construction and electrical grids to electronic products and home appliances — make it the world’s third most-consumed metal.

      Copper’s anti-corrosive and highly conductive properties are why it’s the go-to metal for the construction industry, and it’s used in products such as copper pipes and copper wiring. In fact, construction is responsible for nearly half of global copper consumption. Rising demand for new homes and home renovations in both Asian and Western economies is expected to support copper prices in the long term.

      In recent decades, copper price spikes have been strongly tied to rising demand from China as the economic powerhouse injects government-backed funding into new housing and infrastructure. Industrial production and construction activity in the Asian nation have been like rocket fuel for copper prices.

      Additionally, copper’s conductive properties are increasingly being sought after for use in renewable energy applications, including thermal, hydro, wind and solar energy.

      However, the biggest driver of copper consumption in the renewable energy sector is rising global demand for electric vehicles (EVs), EV charging infrastructure and energy storage applications. As governments push forward with transportation network electrification and energy storage initiatives as a means to combat climate change, copper demand from this segment is expected to surge.

      New energy vehicles use significantly more copper than internal combustion engine vehicles, which only contain about 22 kilograms of copper. In comparison, hybrid EVs use an average of 40 kilograms, plug-in hybrid EVs use 55 kilograms, battery EVs use 80 kilograms and battery electric buses use 253 kilograms.

      In 2025, EV sales worldwide increased by 20 percent over 2024 to come in at about 20.7 million units, and analysts at Rho Motion expect that trend to continue in the coming years despite some headwinds in the near-term.

      On the supply side of the copper market, the world’s largest copper mines are facing depleting high-grade copper resources, while over the last decade or more new copper discoveries have become few and far between. This is a challenging problem considering it can take as many as 10 to 20 years to move a project from discovery to production.

      There have also been ongoing production issues at copper mines over the past few years. In late 2023, First Quantum Minerals (TSX:FM,OTCPL:FQVLF) was forced to shut down its Cobre Panama mine by the government following wide-spread protests. Then, in 2025, accidents at Ivanhoe’s (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mine in Mali and Freeport-McMoRan’s (NYSE:FCX) Grasberg mine in Indonesia wiped out hundreds of thousands of metric tons of production.

      While all three mines are expected to return to production, it will take time before they reach full capacity and will continue to exacerbate supply deficits in the copper market.

      The International Energy Agency (IEA) is forecasting a 30 percent shortfall in the amount of copper needed to meet demand by 2035. “This will be a major challenge. It’s time to sound the alarm,” IEA Executive Director Fatih Birol said.

      This has increased the need for end users to turn to the copper scrap market to make up for the supply shortage. Sometimes referred to as “the world’s largest copper mine,” recycled copper scrap contributes significantly to supplying and balancing the copper market.

      “We are seeing signs this could change. Much of the growth over the last five years has come from brownfield expansions rather than greenfield/new discoveries,’ she said. ‘Technology will likely help increase the chance of discovery, and broadly I would say that policymakers are now more supportive of mineral exploration as the push to secure critical raw materials supply has moved up the agenda.’

      Joannides offered some examples of greenfield projects in the pipeline: Capstone Copper’s (TSX:CS,OTC Pink:CSCCF) Santo Domingo in Chile, Southern Copper’s (NYSE:SCCO) Tia Maria in Peru and Teck Resources’ (TSX:TECK.A,TECK.B,NYSE:TECK) Zafranal in Peru.

      How has the copper price moved historically?

      Taking a look back at historical price action, the copper price has had a wild ride for more than two decades.

      Sitting at US$1.38 per pound in late January 2005, the copper price followed global economic growth up to a high of US$3.91 in April 2008. Of course, the global economic crisis of 2008 soon led to a copper crash that left the metal at only US$1.29 by the end of year.

      Once the global economy began to recover in 2011, copper prices posted a new record high of US$4.58 per pound at the start of the year. However, this high was short-lived as the copper price began a five year downward trend, bottoming out at around US$1.95 in early 2016.

      Copper prices stayed fairly flat over the next four years, moving in a range of US$2.50 to US$3 per pound.

      20 year COMEX copper price chart, 2006 to 2026.

      Chart via Macrotrends.

      The pandemic’s impact on mine supply and refined copper in 2020 pushed prices higher despite the economic slowdown. The copper price climbed from a low of US$2.17 in March to close out the year at US$3.52.

      In 2021, signs of economic recovery and supercharged interest in EVs and renewable energy pushed the price of copper to rally higher and higher. Copper topped US$4.90 per pound for the first time ever on May 10, 2021, before falling back to close at US$4.76.

      Also affecting the copper price at that time was expectations for higher copper demand amid supply concerns out of two of the world’s major copper producers: Chile and Peru. In late April 2021, port workers in Chile called for a strike, while in Peru presidential candidate Pedro Castillo proposed nationalizing mining and redrafting the country’s constitution.

      In early May 2021, news broke that copper inventories were at their lowest point in 15 years. Expert market watchers such as Bank of America commodity strategist Michael Widmer warned that further inventory declines into 2022 could lead to a copper market deficit.

      After climbing to start 2022 at US$4.52, the copper price continued to spike on economic recovery expectations and supply shortages to reach US$5.02 per pound on March 6. Throughout the first quarter, fears of supply chain disruptions and historically low stockpiles amid rising copper demand drove prices higher.

      However, copper prices pulled back in mid-2022 on worries that further COVID-19 lockdowns in China, as well as a growing mortgage crisis, would slow down construction and infrastructure activity in the Asian nation. Rising inflation and interest hikes by the Fed also placed downward pressure on a wide basket of commodities, including copper. By late July 2022, copper prices were trading down at nearly a two year low of around US$3.30.

      In the early months of 2023 the copper price was trading over the US$4 per pound level after receiving a helpful boost from continuing concerns about low copper inventories, signs of rebounding demand from China, and news about the closure of Peru’s Las Bambas mine, which accounts for 2 percent of global copper production.

      However, that boost turned to a bust in the second half of 2023 as China continued to experience real estate sector issues, alongside the economic woes of the rest of the world. The price of copper dropped to a low for the year of US$3.56 per pound in mid October.

      Elevated supply levels kept copper trading in the US$3.50 to US$3.80 range for much of Q1 2024 before experiencing strong gains that pushed the price of the red metal to US$4.12 on March 18.

      Those gains were attributed to in part to tighter copper concentrate supply following the closure of First Quantum Minerals’ Cobre Panama mine, guidance cuts from Anglo American (LSE:AAL,OTCQX:AAUKF) and declining production at Chile’s Chuquicamata mine. In addition, China’s top copper smelters announced production cuts after limited supply led to lower profits from treatment and refining charges.

      BHP’s (ASX:BHP,NYSE:BHP,LSE:BHP) attempted takeover of Anglo American also stoked fears of even tighter global copper mine supply. These supply-side challenges continued to juice copper prices in Q2 2024, causing a jump of nearly 29 percent from US$4.04 per pound on April 1 to a then all-time high of US$5.20 by May 20, 2024.

      After starting 2025 at US$3.99 per pound, copper prices were lifted in Q1 by increasing demand from China’s economic stimulus measures, renewable energy and artificial intelligence (AI) technologies and stockpiling brought on by fear of US President Trump’s tariff threats.

      At the time, Trump had said the US was considering placing tariffs of up to 25 percent on all copper imports in a bid to spark increased domestic production of the base metal.

      In late February, he signed an executive order instructing the US Commerce Department to investigate whether imported copper poses a national security risk under Section 232 of the Trade Expansion Act of 1962. The price of copper reached a new high price of US$5.24 per pound on March 26 as tariff tensions escalated.

      Trump’s tariff talk sparked yet another copper price rally in early July when he announced he plans to impose a 50 percent tariff on all imports of the red metal, and it moved higher towards the end of the month in anticipation of them entering effect. By the end of the month, the copper price had climbed to US$5.96 per pound.

      However, copper’s price plummeted back toward the US$4 mark on July 31 following the reveal that tariffs would not be imposed on imports of raw or refined copper, instead targeting semi-finished copper products.

      The price began to rebound once again in September following the accident at Freeport McMoRan’s Grasberg mine, ultimately tipping the market from a surplus position into a deficit.

      The price crossed back above the US$5 mark by the end of October, and, with supply and demand fundamentals fueling its momentum, copper was trading at US$5.60 by the end of 2025.

      What was the highest price for copper ever?

      The highest ever copper price on the COMEX is US$6.61 per pound, while the highest LME copper price is US$14,572.54 per metric ton. Copper hit both of these new all-time highs on January 29, 2026. Read on to found out how the copper price reached those heights.

      Why did the copper price hit an all-time high in 2026?

      The new copper high on January 29, 2026, resulted from a buying spree driven by speculative trading, primarily out of China amid growing expectations of higher growth in the US economy and an increased global spending on data centers and power infrastructure projects.

      That day, copper prices on the LME jumped 11 percent, although the gain had lessened to a 4 percent jump by the close of trading.

      Looking at the bigger picture, copper’s rally in recent years has encouraged bullish sentiment on prices looking ahead. In the longer term, the fundamentals for copper are expected to get tighter as demand increases from sectors such as EVs and energy storage.

      A May 2024 report from the International Energy Forum (IEF) projected that as many as 194 new copper mines may need to come online by 2050 to support massive demand from the global energy transition.

      Additionally, a January 2026 report from S&P Global stated that the world will need 14 million more metric tons of copper annually to meet demand compared to 2025’s 27 million MT of copper. The firm reports that supply is expected to peak in 2030 without expansion.

      Looking at renewable energy, according to the Copper Development Association, solar installations require about 5.5 MT of copper for every megawatt, while onshore wind turbines require 3.52 MT of copper and offshore wind turbines require 9.56 MT of copper.

      The rise of AI technology is also bolstering the demand outlook for copper. Commodities trader Trafigura has said AI-driven data centers could add 1 million MT to copper demand by 2030, reports Reuters.

      Where can investors look for copper opportunities?

      Copper market fundamentals suggest a return to a bull market cycle for the red metal in the medium-term. The copper supply/demand imbalance also presents an investment opportunity for those interested in copper-mining stocks.

      If you’re looking to diversify your portfolio with other investment options, check out copper ETFS and ETNs or copper futures contracts.

      Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

      This post appeared first on investingnews.com

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