The latest Market Talks covering Basic Materials. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

1444 ET - Barrick Mining's cash severance package paid to former CEO Mark Bristow totaled a little more than $21 million. That took total compensation for 2025 to $22.87 million for Bristow, who parted ways with the Canadian miner in late September, compared with $11.84 million the year before. According to an information circular for the coming annual shareholders meeting, separation arrangements included a lump sum cash payment equal to two times his base salary, prorated incentive payments, and other entitlements, including the continuation for a 24-month period of benefits such as a car allowance. Bristow had led Barrick since 2019 and through the company's $6 billion all-share buy of Randgold. The total compensation for Mark Hill, who has since taken on the CEO role on a permanent basis, was $11 million in 2025. (robb.stewart@wsj.com)

1414 ET - Traffic on the Strait of Hormuz remains mostly stifled, but this didn't seem to derail gains in precious metals futures. It's likely because investors are growing more convinced that there may soon be a more permanent end to hostilities, according to Mizuho Securities USA in a note. "Price action implies traders are looking for this war to be over sooner rather than later," says energy futures strategist Robert Yawger. Front-month gold futures have now settled higher for four consecutive sessions, climbing 0.9% today to $4,792.20 a troy ounce. Silver has also gained for four straight sessions, rising 1.4% to $76.277/oz. (kirk.maltais@wsj.com)

0136 ET - Gold is likely to rebuild its gains and could retest record highs this year amid heightened geopolitical risks, says Standard Chartered's energy and metals research team in a note. There are tentative signs of gold prices stabilizing as exchange-traded product flows turned positive in April, the team says. Investors of such products tend to track real yields more closely than structural drivers, they note. If such flows stabilize, gold prices are more likely to find a floor, they add. Central banks also remain net buyers of gold, the team adds. Standard Chartered's 2Q spot gold estimate is $4,650.00 an ounce. Spot gold is flat at $4,719.01 an ounce. (megan.cheah@wsj.com)

0051 ET - Lithium is now Morgan Stanley's top pick among mined commodities, as Zimbabwe's export ban drives meaningful near-term tightness in supplies. MS says it is also bullish on thermal coal and uranium, supported by strong energy market demand. Aluminum remains MS's preferred base metal owing to production losses in the Middle East. Although, aluminum prices "have already moved quite a lot," says the bank, which is neutral on the metal's outlook. Among precious metals, "gold's liquidity has been working against it but we see room to rebound after a larger than normal sell-off," MS says. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2310 ET - Palm oil prices rise in Asian trading, tracking soybean oil's strength on the Chicago Board of Trade as well as crude oil prices, says David Ng, a trader at Kuala Lumpur-based Iceberg X. He thinks the price uptrend could persist, given expectations of lower stockpiles in weeks to come and the implementation of Indonesia's B50 biodiesel mandate, which requires a 50% palm-based blend, he adds. Ng sees resistance at 4,700 ringgit a ton and support at 4,550 ringgit a ton. The Bursa Malaysia Derivatives contract for June delivery is up 27 ringgit at 4,613 ringgit a ton. (yingxian.wong@wsj.com)

2123 ET - Alkane Resources posts a solid 3Q result, with a minor beat to MA Financial's expectations, owing mostly to better production at the Bjorkdal mine, analyst Paul Hissey says. Increased realized prices for gold and antimony likely contributed to a higher cash balance of A$328 million versus MA's forecast of A$300 million, he says. Lower operating costs may have also contributed, Hissey adds. "The reiteration of guidance suggests confidence that the assets are well placed to close out the FY," he says, noting that only about 37,000 oz of gold is needed in 4Q to meet the bottom end of production guidance. MA reiterates a buy rating. Its target price is A$2.25/share. The stock is up 3.5% at A$1.78. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

2055 ET - Deterra Royalties' new bull at Morgans thinks the market is wrong to discount the stock so much against global peers. Analyst Adrian Prendergast says Deterra--Australia's largest-listed mining royalty company--trades at a 32%-46% discount to competitors Franco-Nevada, Wheaton and Royal Gold. That's excessive, given Deterra's current 93% Ebitda margin is at least 800 basis points higher than theirs, Morgans says. "We see scope for the discount to narrow from 40% to 25-30% as Thacker Pass milestones are achieved and a permanent CEO is appointed," Morgans says. Deterra has a royalty over the Thacker Pass lithium project in Nevada following its 2024 acquisition of Trident Royalties. Morgans starts coverage of Deterra at buy with a A$4.85/share price target. Deterra is up 2.6% at A$4.28. (david.winning@wsj.com; @dwinningWSJ)

1856 ET - Ramelius Resources may downgrade guidance for FY 2026 all-in sustaining costs when fleshing out its 3Q performance on April 29, Shaw & Partners says. Ramelius's preliminary update pointed to gold output of 38,100 oz, representing another sequential drop. Ramelius is targeting AISC of A$1,700-A$1,900/oz in FY 2026. "The lower gold production in 3Q suggests unit AISC could be higher than 1Q/2Q," analyst Alex Barkley says. Ramelius has also faced rising diesel costs. Shaw cuts its FY26 production forecast to 194,000 oz from 201,000 oz. It increases its FY26 AISC forecast to A$1,960/oz, from A$1,825/oz. Still, Shaw notes consensus forecasts already anticipate a miss. "This could limit any potential market weakness on the softer Q3, and incrementally negative FY26 guidance commentary," Shaw says. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 09, 2026 16:50 ET (20:50 GMT)

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