AI mania, critical metals, and gold! Keep an eye on blockbuster stocks such as BASF, RZOLV Technologies, and Barrick Mining

BASF – The world's largest battery chemical manufacturer

The Ludwigshafen-based chemical company BASF has become one of the world's leading suppliers of battery materials, with a clear focus on high-quality cathodes for lithium-ion cells. In the third quarter of 2025, the Company reported revenue of around EUR 14.3 billion, which corresponds to a decline of approximately 3% compared to the previous year. Despite a challenging market environment, BASF has massively expanded its production capacities for cathode materials and is benefiting from collaborations, such as the BASF Shanshan Battery Materials (BSBM) joint venture. With BSBM, the Company supplies industrial batches of high-nickel cathode materials for semi-solid solid-state batteries, a significant innovation leap in terms of efficiency and safety. Solid-state batteries are now considered a key technology for the electric mobility of the future. At the same time, BASF is keeping an eye on its position in global supply chains, particularly through close partnerships with Chinese cell manufacturers such as CATL and WELION.

In addition to batteries, BASF is also driving forward the development of low-emission hydrogen. In collaboration with ExxonMobil, methane pyrolysis technology is being further developed to make low-CO₂ hydrogen solutions commercially available. The demonstration plant planned for Baytown, Texas, is expected to produce up to 2,000 tons of low-emission hydrogen and 6,000 tons of solid carbon annually. This technology requires significantly less energy than conventional electrolysis, does not require water, and utilizes existing natural gas infrastructure, making it an economically efficient approach with great CO₂ reduction potential.

For investors, BASF is therefore not just a chemical company, but a technology player with a broad innovation portfolio - from basic chemicals and battery systems to green hydrogen and circular plastic solutions. The prospect of reduced production potential over the next 12 months could signal the start of an operational bottoming out. Financially, BASF estimates its adjusted EBITDA for the full year 2025 at EUR 6.7 to 7.1 billion, while analysts on the LSEG platform estimate earnings per share of EUR 2.87 for 2026, up from EUR 2.64 in 2025. For 2027, they anticipate a jump to EUR 3.53, another increase of around 22%. There are many indications that BASF could complete its major adjustment to the new framework conditions in 2025. For a resurgent global market leader, a 2027 P/E ratio of 12 is certainly not expensive!

RZOLV Technologies – The revolution in cyanide avoidance

RZOLV Technologies is entering the arena between mining and chemical innovation. The Company's technology has the potential to significantly change gold mining by offering an environmentally friendly alternative to cyanide. RZOLV has developed a patented, water-based chemical formulation that performs comparably to cyanide in gold extraction, but without its toxic side effects. Experts such as Duane Nelson, CEO of RZOLV, report that approximately USD 2 billion is spent annually on cyanide in the gold sector, which could be saved with the new technology.

The Company is still in the pilot phase with a 100-ton rock test in Arizona to demonstrate the scalability and efficiency of its technology. Independent tests by SGS Labs confirm over 90% gold recovery from concentrates within 72 hours. In addition, RZOLV has secured international patenting of its method to keep imitators or competitors at bay. Beyond gold, the technology shows promise for extracting critical metals and rare earth elements, broadening the total addressable market. Results from a metallurgical test on rare earths and critical minerals show that they could be dissolved using the RZOLV™ formula under mild conditions without toxic chemicals. Particularly high yields were achieved for cerium (73%), manganese (64%), and cobalt (60%), which are important metals for batteries, energy, and defense technology. The solution is compatible with common processing technologies (ion exchange, solvent extraction) and is energy-efficient even at room temperature. The technology can tap into a wide range of sources, including secondary sources such as contaminated sites and ore residues, in an environmentally friendly and economical manner. The tests are preliminary, but show great potential for sustainable raw material extraction.

Companies such as Ecolab and the gold mining group Newmont are showing great interest in such innovative, sustainable solutions and could become potential customers or partners thanks to their vast resources and ESG strategies. If the pilot results are positive, RZOLV should not only significantly reduce environmental impact, but also lower project costs and speed up approval processes. The RZL share was created when Torchlight Innovations Inc. changed its name and has been listed on the TSX Venture Exchange since mid-October. With prices around CAD 0.43, this results in a market capitalization of CAD 26.5 million. If the new technology gains a foothold, RZOLV could be a multiplier in the medium term.

Barrick Mining – Solution for Mali now within reach

The news hit the tickers yesterday! Canadian mining company Barrick Mining announced that it had reached an agreement with the Malian government to settle all disputes over the Loulo-Gounkoto gold mining complex. Under the agreement, the arbitration case against Mali before the World Bank's dispute resolution court will be withdrawn. In return, Mali will drop all charges against Barrick and its subsidiaries, release detained employees, and return operational control to the Canadian mining company. Production can now resume, with the mine in Mali delivering a peak output of 707,000 ounces. Finally, a solution is in sight!

Barrick is one of the major players in Africa. Following the resignation of long-time CEO Mark Bristow and the entry of major investor Elliot, the Company is now to be restructured. Barrick is currently considering a strategic realignment with the possible division into a North American unit and a second group for its Asian-African activities. This restructuring is supported by Elliott, as it will allow for better coordination of regional strategies and increase the Company's value. From a fundamental perspective, Barrick Mining is a clear buy, as cash flow is increasing, shares are being repurchased, and an additional 2.5% dividend is being paid out! With the solution in Mali, the share price is expected to catch up.

Innovative solutions for mining are at the top of the list for mine operators. This is because they have been criticized for years for not doing enough for the environment. Companies such as RZOLV Technologies could score big with new process methods. In our peer group analysis, however, it also makes sense to take another look at BASF and Barrick Mining. The framework conditions are improving!