London miners rallied after the U.S. and Iran signaled progress on a deal that could reopen the Strait of Hormuz. U.S. strikes on southern Iran kept sentiment cautious, yet New York gold futures rose 0.2% to $4,532.30, lifting Hochschild and Endeavour Mining about 3%. In London, Rio Tinto and BHP gained 2.4% and 2%, while Glencore and Anglo American each added roughly 2.4%.

RBC Capital Markets noted that Mineral Resources received approval for the Mt. Marion flotation plant, a component already baked into its base‑case model. More notable was the green‑light for an underground development, signalling a shift toward combined open‑pit and underground operations. RBC maintains an outperform rating with a A$70 target, leaving the stock marginally down at A$71.42.

Statistics Canada reported first‑quarter corporate operating profit of C$209.9 billion, up 2% from the prior quarter and 3.4% year‑over‑year. The surge stemmed mainly from oil and gas extraction, which posted a 35% monthly jump to C$3 billion as crude prices rose on Middle‑East tensions. Mining profit climbed 11% to C$299 million, driven by higher gold and copper prices. The earnings uplift supports a bullish outlook for commodity‑linked equities.