The Market Online shares the latest stock market news.
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00:00Hello and welcome to your midday market update.
00:05Well, Amante Industries is making a decisive play in the critical minerals arena.
00:09The company has inked a strategic partnership with American Defense International, ADI,
00:14a Washington-based firm renowned for its connections with major defense and tech players, including SpaceX.
00:21Now, this alliance positions Amante as a key supplier of tungsten,
00:25two U.S. defense contractors aligning with the Pentagon's push to reduce reliance on foreign sources for critical materials.
00:34Amante's move comes as the company shifts its corporate domicile from Canada to the U.S.,
00:39a strategic decision to align more closely with American industrial policy and secure its place in the defense supply chain.
00:46With the Sangdon mine in South Korea poised to become a significant source of tungsten,
00:51Amante is set to supply a substantial portion of non-Chinese tungsten to the U.S. market.
00:58In a market where China controls over 90 percent of global tungsten production,
01:03Amante's positioning offers a rare and valuable alternative for Western industries.
01:09Investors should watch Amante closely as it strengthens its role in the critical mineral supply chain,
01:14a sector gaining increasing attention among global geopolitical shifts.
01:18Amante is up over 3 percent on the day and currently trading at $2.41 on the TSX.
01:25And that's your midday market highlight.
01:26I'm Lindsay Malchuk.
01:27We'll see you tomorrow.