04:18 PM EDT, 10/28/2025 (MT Newswires) -- The Toronto Stock Exchange closed higher again Tuesday, rising for fourth day in five, with investors buoyed by reports that Canada is not just working with G7 partners to secure critical mineral supply deals, but is just days away from making announcements on some of them.

The resources-heavy S&P/TSX Composite Index closed up 143.92 points, or 0.5%, tp 30,419.68, despite lower commodity prices and mixed sectors. Among risers, Info Tech was up 1.5% and Base Metals were up 1.2%. Among decliners, the Battery Metals Index was down 2.3%, Health Care down 1.4% and Energy down near 1.1%.

Canada has many of the critical minerals U.S. President Donald Trump desires, but with recent trade talks between the two nations terminated, the question here had become: "Can federal and provincial politicians accelerate natural-resource projects, such as the 'Ring of Fire', about 500-kilometers north of Thunder Bay, Ontario, and said to be rich in a range of critical and base minerals, and find other buyers for Canada's rich mineral deposits?".

The answer to that seems may only be days away. Natural Resources Minister Tim Hodgson in an interview with Reuters on Tuesday said Canada will focus on securing supplies of critical minerals when it hosts its Group of Seven partners this week at a meeting of energy and environment ministers in Toronto.

Reuters noted that G7 countries, except Japan, are heavily or exclusively reliant on China for a range of materials from rare earth magnets to battery metals. "We will see this week many examples of us moving beyond talks to firm commitments to fund several types of tools (to secure critical minerals)," Hodgson said. The G7 meeting will be held from October 30 to October 31.

Earlier this year, Reuters noted, G7 officials met in Chicago and discussed price floors backed by government subsidies, which the United States recently introduced to encourage domestic production of critical minerals. Reuters said Canada will also aim to cement offtake agreements, or financing deals where a buyer agrees to purchase a producer's output in the future for a predetermined price. "What you will see on Friday is a number of concrete announcements demonstrating that a multilateral approach to securing supply chains and energy supplies works," Hodgson said.

Reuters cited Hodgson as saying Canada intends to be a leader in securing supply chains for all of its key allies, to reduce reliance on China. It noted Canada produces several critical metals such as nickel, copper and cobalt. Some of the announcements expected this week from the G7 meeting will be on stockpiling of critical minerals and investments in new mining and processing operations, Hodgson said.

Hodgson reiterated that Canada and the United States had also been in talks over the revival of the Keystone XL oil pipeline as part of an eventual deal, but said it was unclear when both countries would re-engage on the issue. "When the Americans are ready to talk, we are ready to talk," he said.

Of commodities, gold had retreated below the US$4,000 mark for the first time in two weeks by late afternoon on Tuesday, continuing a correction from its Oct. 20 record high, even ahead of an expected cut to U.S. interest rates tomorrow when the Federal Reserve's policy committee ends its two-day meeting. Gold for December delivery was last seen down US$45.60 to $3,974.10 per ounce, dropping further off the record high of $4,359.40. Still, the price of the metal is up by nearly half over the past 12 months, pushed higher by safe-haven buying, physical demand and lower interest rates.

Also, West Texas Intermediate crude oil closed lower for a third day as traders' focus returns to rising inventories and an over-supplied market. WTI crude oil for December delivery closed down $1.16 to settle at $60.15 per barrel, while December Brent oil was last seen down $1.28 to $64.34.