Cassiar Gold Corp. (TSXV: GLDC, OTCQX: CGLCF)
Revitalizing the Cassiar Gold District in British Columbia, Canada
On Tuesday (February 25), U.S. President Donald Trump signed an executive order directing the Commerce Department to investigate whether copper imports pose a “national security risk” under Section 232 of the Trade Expansion Act of 1962. This move, marking another aggressive step in Trump’s trade policy playbook, triggered immediate turmoil in global copper markets.
Copper prices on the New York Commodity Exchange (COMEX) surged 4.9% intraday, with the spread over London Metal Exchange (LME) benchmarks widening to over $1,000 per metric ton. Traders scrambled to divert shipments to the U.S. ahead of potential tariffs.
While White House trade adviser Peter Navarro framed the investigation as a measure to counter China’s dominance in global copper supply chains and bolster U.S. security, America’s top copper suppliers—Chile, Canada, and Mexico—stand to bear the brunt. Notably, U.S. Census Bureau data reveals a copper trade surplus in 2024, with exports totaling $11.3 billion against imports of $9.6 billion.
The tariff threat is already reshaping global copper flows. Industry sources report mining giants Glencore and Trafigura accelerating shipments from South America to the U.S., while exploring withdrawals from LME-linked Asian warehouses. LME data shows a staggering 93,000-metric-ton copper outflow from Asian depots over four days—the steepest drop since 2013.
U.S.-focused mining firms are emerging as potential beneficiaries.
Scott Petsel, the president of Metallic Minerals Corp (TSXV: MMG, OTCQB: MMNGF), stated during an interview on METALS 100 that the company has secured strong strategic investors, including Newcrest Mining (Newmont Mining) and Eric Sprott. Metallic Minerals fully owns the La Plata project located in southwestern Colorado, which hosts a porphyry copper-silver resource. Drilling in 2022 provided the basis for the expanded 2023 resource estimate, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years.
Similarly, American Pacific Mining (CSE:USGD , OTCQX:USGDF ) emphasized its Montana-based Madison Copper-Gold and Alaska-based Palmer Copper-Zinc projects as strategic assets. CEO Warwick Smith commented, U.S. policy shifts underscore the value of domestic copper resources vital for clean energy infrastructure. Our projects are poised to support this transition.
