0036 GMT - In Australian mining, Jefferies likes companies with copper exposure and liquid gold stocks. "Copper is still the core theme," say analysts, pointing to demand for the metal in power grids, electric vehicles, data centers and defense technologies. Copper's supply outlook is also constrained, they add. The analysts have a buy rating on stocks including Capstone Copper and AIC Mines. They also reckon aluminum "remains under‑owned as liquid leverage to copper‑adjacent electrification," highlighting South32 and Alcoa's Australian shares. Overall, they say the "mining sector's strength remains anchored in expectations of a global rate‑cut cycle, a solid economic backdrop, and incremental demand from energy security, AI and regional onshoring." Those tailwinds will continue to support dealmaking, too, with large-scale M&A "back in vogue," they add. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

(END) Dow Jones Newswires

January 11, 2026 19:36 ET (00:36 GMT)

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