The Energy Sector Boom Is Boosting Critical Metals: Siemens Energy, Nel ASA, Globex Mining, and Nordex in the Spotlight

Globex Mining: Exploration Boom in North America Lays the Groundwork for a Revaluation

The combination of geopolitical supply fears, US government incentives, and accelerated permitting processes right in its own backyard is driving demand for domestic claims to historic levels. The long-established Canadian company Globex Mining Enterprises, led by Jack Stoch, is taking full advantage of this environment by operating as a low-risk "mineral property bank." For over 50 years, Globex has been refining its now-established "project generator" business model. It involves acquiring promising properties at low cost, enhancing their geological value, and then transferring them to financed partners via lucrative option agreements. These partners assume the entire financial risk of exploration, while Globex, in return, receives direct cash payments, equity stakes, and valuable gross smelter receipts.

With a massive portfolio of approximately 270 assets and over 100 active royalty agreements, the debt-free company secures long-term revenue without the need for dilution. The vast range of commodities extends from traditional precious metals such as gold and silver to base and critical metals, including lithium, nickel, and rare earth elements, that are indispensable for the energy transition. A large portion of these claims is concentrated in the politically stable Abitibi Belt in Québec, which is characterized by first-class infrastructure and an excellent legal framework. A current value driver is the Duquesne West Gold Project, where partner Emperor Metals has already established a resource of 1.46 million ounces of gold as part of a massive drilling campaign. Another highlight in the portfolio is the Parbec Gold Project near the Malartic Mine in Canada, where Globex has secured a direct 3% gross metal royalty on all future production volumes. A recent USD 3.5 million deal with Edison Lithium for two gold projects in the James Bay region, which provides Globex with immediate liquidity and new licenses, also demonstrates that this system works exceptionally well. The strategic commodities pipeline is rounded out by high-grade antimony deposits, which are considered a genuine geopolitical asset due to their military and technological relevance in times of Western supply shortages.

COO David Christie discussed the unique advantages of his commodities asset business at the recent International Investment Forum.

https://youtu.be/EW22N6jb9W4

The operational strength of Globex Mining's "Project Generator" model will be evident in the summer of 2026 through massive exploration progress across multiple strategic commodity projects simultaneously. For example, in early July, option partner Antimony Resources Corp. reported spectacular, high-grade drill results at the Bald Hill property in New Brunswick, where grades of up to 16.65% and peak values of 33.40% antimony (Sb) were identified over short intervals. In addition, Brunswick Exploration Inc. launched a new 4,000 m summer drill program at the Mirage lithium project, on whose claims Globex holds a valuable 3% gross metal royalty (GMR). Furthermore, the long-term visibility of the portfolio is evident at the high-grade Mont Sorcier iron ore project in Québec. The operator there, Cerrado Gold Inc., is currently optimizing its mine plan and infrastructure to achieve significant cost reductions. While optimization trade-offs have delayed the completion date of the bankable feasibility study (BFS), the key Environmental and Social Impact Assessment (ESIA) filing remains on schedule for the second quarter of 2027. Globex Mining offers significant medium-term leverage from the unstoppable reshaping of Western economic architecture.

Siemens Energy and Nordex: The technical correction is running its course

Regardless of international developments, the German energy stocks Siemens Energy and Nordex have likely reached their peak valuations in the short term. After a massive rally through May 2026, the European wind power and energy sector experienced a noticeable technical consolidation in July 2026, triggered primarily by profit-taking following the latest quarterly results from US competitor GE Vernova. This cross-sector shockwave briefly pushed Siemens Energy's stock down by over 10%; it is now trading more than 20% below its peak of approximately EUR 195. Currently, the share is at least holding above the psychologically important support level of EUR 150; fresh quarterly results are due on August 5. Should a slowdown in the global energy and data center super-hype become apparent here, further losses loom. Despite a high LSEG price target of EUR 195 and 21 active "Buy" recommendations, mwb research's skeptical analysis from mid-May, with a target of EUR 100 and a "Sell" rating, remains in the mix. The analysts hit the nail on the head with a cyclically appropriate "Sell" rating, even if the price target seems a bit too low. The investment community is eagerly awaiting CEO Christian Bruch's latest outlook.

Wind turbine manufacturer Nordex also came under selling pressure amid the sector-wide downturn, briefly dipping below its 50-day moving average and is currently struggling to hold the significant EUR 40 mark. Despite this short-term nervousness ahead of next Wednesday's upcoming half-year financial report, the company's fundamentals remain completely intact thanks to a significant order intake of over 3 gigawatts in the second quarter of 2026 alone. The key now is to hold the current level; otherwise, the technical minimum price target on the downside is EUR 33. The consensus expects quarterly earnings of just under 43 cents—good luck to anyone who can top that in the current environment!

Nel ASA: A Rapid Rise, Then a Crash

The surprising resignation of CEO Håkon Volldal, who is leaving Nel ASA after just four years for a position outside the hydrogen industry, has placed additional pressure on the already fragile stock. The leadership vacuum comes at an inopportune time for the Norwegian company, as it is in the midst of a profound technological turnaround and struggling with an operating EBITDA loss of NOK 155 million. However, a massive operational bright spot offers hope to investors who have stuck with the company. Order intake soared by a spectacular 224% year-over-year in Q2 to NOK 230 million. Furthermore, with a robust cash reserve of approximately NOK 1.33 billion, the company is effectively debt-free and financially sound enough to weather the current rough patch without concern. In addition to the CEO's departure, a simultaneous, unplanned USD 7.5 million settlement payment in the US remains a major setback that severely undermined the latest quarterly results. The doubling of the share price seen in May was apparently just a flash in the pan; the price is now back at EUR 0.195, where the 100% rally began in April. A genuine trend reversal, and thus sustainable hope for the stock, now depends largely on how quickly a strong successor is presented and whether the new, cost-efficient "PA electrolyzer series" can be converted into large-scale commercial orders in the near future.

Capital markets are showing little mercy at the moment. Companies with stretched valuations and cautious outlooks are being punished with sharp share price declines in a matter of minutes. Recent examples include IBM, Oracle and SAP. Following their impressive rallies, Siemens Energy and Nordex have entered a correction, while Nel ASA may face a more prolonged period of recovery. By contrast, Globex Mining's strong asset base and high-quality project portfolio could offer investors multi-bagger potential over the coming years.