The conflict in Iran is obviously having an impact on the markets. On the energy side, the global market for oil and natural gas is seeing significant upheaval. Natural gas markets are being impacted because Qatar ships about 20% of global LNG supplies and had to shut down production after facilities were attacked. In addition to that, shipments of LNG are currently blocked from the waterway from the Persian Gulf that allows Middle Eastern exporters to get their products to Asia. One market that could pick up the slack when natural gas prices rise and supply is short is coal.

The administration has started to work through how a minerals trading bloc with U.S. allies will work, with the Office of the U.S. Trade Representative taking public comment around how to design the multinational framework. The comment period is open through March 19.

And we'll end with great news from NMA Member Florence Copper, which just harvested its first copper cathodes at its operation in Arizona, marking the first new copper production from a greenfield project in the US since 2008.