Mining Minutes | Too Many Whammies

Research evidence excerpt

Mining Minutes | Too Many Whammies

Global | Metals & Mining EquityJulyResearch18, 2026

Table of the Week: Next Week EarningsMining Minutes | Too Many Whammies

Calendar (US ET)

(Green = Next Week)

We would attribute the very weak share price performance for most of our Company Production Earnings

coverage this past week to inflation/rate hike fears as commentary from the Alcoa N/A 16-Jul

Alpha Met Resources N/A TBD

Algoma Steel N/A 29-JulFed continues to lean hawkish, a rising oil price and re-escalation in Iran, "the Anglo American 23-Jul 30-Jul

Antofagasta 15-Jul 13-Augchip rout", and typical summer doldrums in the sector. The decoupling of mining BHP Group 15-Jul 17-Aug

share prices from much more stable commodity prices has been notable. ClevelandCMC Cliffs N/AN/A 25-Jun23-Jul

Something has to give. Glen, Nucor and STLD are defensive and best...for now. CoreFirst QuantumNatural Resources N/AN/A 28-JulTBD

Freeport-McMoRan N/A 23-Jul

Glencore 29-Jul 5-Aug

Our Key Research from this Past Week: IvanhoeLundin MiningElectric N/AN/A 5-AugTBD

MMG 21-Jul TBD

Glencore - Marketing and M&A at the Core, with Copper and Coal Price Leverage (HERE): In this NucorPeabody Energy N/AN/A 27-Jul29-Jul

report we provide an in-depth look at Glencore's Marketing business and we discuss why we believe RamacoRio TintoResources 14-JulN/A 28-JulTBD

Glencore is uniquely positioned for the current macro and geopolitical environment. SteelTeck ResourcesDynamics N/AN/A 20-Jul23-Jul

Vale 21-Jul 30-Jul

Alcoa - Deal and Balance Sheet Considerations (HERE and HERE): Alcoa reported results this .Source:Warrior Company filings N/A 5-Aug

week and met our expectations on FCF but missed on EBITDA. The S32 deal continues to be a

major topic of discussion, with investor sentiment on the deal turning.