12:30 Daily TSX Market Update | May 07, 2025 - video Dailymotion

The Market Online shares the latest stock market news.

Transcript

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.