• Mining ETFs more than double to $87.4 billion in Q1, data
  • But gold funds saw outflows as investors favour industrial metals
  • Small metals markets amplify volatility, as sentiment shifts impact prices

Investors put $8.24 billion into mining in the first quarter, a $10.8 billion turnaround in sentiment compared with the first three months of 2025 when sweeping U.S. tariffs announced by President Donald Trump triggered outflows of $2.52 billion.

https://www.reuters.com/legal/transactional/big-funds-bet-billions-mining-supercycle-2026-04-30/?

AND

A new era for the mining industry.

Nice chart on Aggregate Free Cash Flow

https://x.com/TaviCosta/status/2050625794360144163