Hudbay and Mitsubishi Approve Copper World, Northern Star Flags Asset Sales, Gold Slips Again, and China Iron Ore Output Falls

Hudbay and Mitsubishi Approve Construction of Copper World in Arizona: First, Arizona, where Hudbay Minerals and Mitsubishi have approved a final investment decision for the Copper World copper project, about 50 kilometres southeast of Tucson. Hudbay owns 70 percent and Mitsubishi 30 percent. First production is targeted for the second half of 2029. Northern Star Keeps Guidance, Flags Possible Asset Sales: Next, Australia, where Northern Star reported its September quarter on Wednesday, the first under new chief executive Suresh Vadnagra, who took over on October 5. Reuters reports gold sales revenue rose 7.2 percent to 1.82 billion Australian dollars, below the Visible Alpha consensus of 1.93 billion. Gold sold was 364,000 ounces, down from 381,100 a year earlier, as planned shutdowns hit all three production centres. The average realised price was 4,999 Australian dollars an ounce. Gold Slips for a Fourth Session as Oil Climbs and Copper Eases: Meanwhile, markets. Reuters reports spot gold fell 0.2 percent to 4,118 dollars an ounce at 0319 GMT on Wednesday, a fourth straight losing session, with spot silver down 0.9 percent at 57 dollars and 44 cents. Brent crude rose 1.5 percent to 110 dollars and 38 cents a barrel, after touching a five-month high in the previous session. Kpler counted at least 18 vessel attacks over the past two weeks. China Iron Ore Output Falls 10% as Port Stocks Stay High: Next, China's iron ore. SteelOrbis, citing the National Bureau of Statistics, reports China's iron ore production was 665.45 million tonnes in the first nine months, down 10.3 percent from a year earlier. September output was 63.11 million tonnes, down 23.9 percent year on year and 5.7 percent from August. Hochschild Holds Full-Year Guidance as Mara Rosa Recovers: Finally, Hochschild Mining, which reported third-quarter production on Wednesday. Attributable output was 54,732 ounces of gold and 1.5 million ounces of silver, or 74,004 gold equivalent ounces. For the nine months, attributable production was 225,835 gold equivalent ounces. Sources: - Hudbay Minerals news release (GlobeNewswire via Stockwatch) — Hudbay and Mitsubishi Approve Construction of Copper World in Arizona: https://www.stockwatch.com/News/Item/U-z9850104-U!HBM-20261020/U/HBM - Reuters via Mining Weekly — Northern Star Keeps Guidance, Flags Possible Asset Sales: https://www.miningweekly.com/article/incoming-northern-star-ceo-flags-possibility-of-asset-sales-2026-10-21 - Investing.com (Northern Star call transcript) — Northern Star Keeps Guidance, Flags Possible Asset Sales: https://uk.investing.com/news/stock-market-news/earnings-call-transcript-northern-star-holds-fy27-guidance-as-kcgm-ramps-up-93CH-4921226 - Reuters via Asharq Al-Awsat (gold and oil) — Gold Slips for a Fourth Session as Oil Climbs and Copper Eases: https://english.aawsat.com/business/5331828-gold-dips-fourth-session-oil-rally-fans-inflation-concerns - Trading Economics (copper) — Gold Slips for a Fourth Session as Oil Climbs and Copper Eases: https://tradingeconomics.com/commodity/copper/news/494583 - SteelOrbis (National Bureau of Statistics data) — China Iron Ore Output Falls 10% as Port Stocks Stay High: https://www.steelorbis.com/steel-news/latest-news/chinas-iron-ore-output-down-103-percent-in-january-september-2026-1485080.htm - Shanghai Metals Market — China Iron Ore Output Falls 10% as Port Stocks Stay High: https://news.metal.com/newscontent/104171418-smm-iron-ore-hot-metal-output-edges-up-but-port-stocks-cap-iron-ore-range-bound-trade-seen - Trading Economics (iron ore) — China Iron Ore Output Falls 10% as Port Stocks Stay High: https://tradingeconomics.com/commodity/iron-ore - Hochschild Mining Q3 and 9 month Production Report (RNS via TradingView) — Hochschild Holds Full-Year Guidance as Mara Rosa Recovers: https://in.tradingview.com/news/reuters.com,2026-10-21:newsml_RSU7706Za:0-reg-hochschild-miningplc-q3-and-9-month-production-report/ - Reuters via Mining Weekly (Northern Star and Gold Fields) — Tomorrow's Flashpoint: https://www.miningweekly.com/article/incoming-northern-star-ceo-flags-possibility-of-asset-sales-2026-10-21