Mining Industry News
Latest updates from the mining sector
CHART: Billions wiped of mining stocks as gold, silver, copper prices plummet
Major mining companies have experienced stock losses approaching 30% since the onset of the war, driven by sharp commodity price declines including copper entering bear market territory, silver plummeting 40% from recent highs, and gold experiencing its worst week in decades. This market correction reflects broader economic uncertainty, geopolitical tensions, and shifting investor sentiment toward traditionally safe-haven assets, significantly impacting shareholder value across the industry's largest players.
Sasquatch Resources eyes Mount Sicker waste rock to unlock gold and clean up legacy pollution
Sasquatch Resources is pursuing an innovative project at Mount Sicker on Vancouver Island to extract gold from historic waste rock while simultaneously remediating legacy mining pollution, a dual-purpose initiative that could establish a precedent for rehabilitating abandoned mine sites throughout British Columbia. The project represents a financially viable approach to environmental cleanup that company leadership believes could be replicated across the province's numerous dormant mining operations.
Op-Ed: Why mining companies are rewriting their technology roadmaps
Mining companies are undertaking a comprehensive strategic reset of their technology roadmaps in response to volatile global markets and heightened stakeholder expectations for operational efficiency, sustainability, and digital transformation. This shift represents a critical industry pivot toward automation, data analytics, and green mining technologies to maintain competitiveness while addressing environmental and social governance (ESG) requirements that are increasingly influencing investment decisions and operational licenses.
Lynas Rare Earths produces first samarium
Lynas Rare Earths has successfully produced its first batch of samarium, expanding its portfolio of separated heavy rare earth oxide products to three alongside existing dysprosium and terbium production. This milestone strengthens Lynas' position as a critical supplier of specialized rare earth elements essential for high-tech applications including defense systems, renewable energy, and advanced manufacturing.
Idaho aligns Black Pine project permitting with FAST-41
Idaho's Black Pine precious metals project has become the first U.S. precious metals development to align both federal and state permitting processes under the FAST-41 (Fixing America's Surface Transportation) coordinated review framework. This streamlined regulatory approach represents a significant milestone for the mining industry, potentially reducing permitting timelines and establishing a template for future mineral development projects in the United States.
Atlantic Lithium wins key Ghana approval for Ewoyaa mine
Atlantic Lithium has secured parliamentary approval in Ghana for its Ewoyaa lithium mine, a significant milestone that includes flexible royalty terms and clears the path for project financing. This approval is crucial for Atlantic Lithium's development timeline and positions Ghana as an emerging lithium producer to meet growing global battery metal demand.
Myriad Uranium sells New Mexico project to tech venture for 6X return
Myriad Uranium has divested its Red Basin uranium property in New Mexico to Subatomic Industries for $2.5 million in cash, representing a significant 6X return on the company's investment. The acquisition is backed by prominent venture capital firms 8VC and Overmatch Ventures, reflecting growing investor interest in uranium assets amid rising nuclear energy demand.
Aclara closes in on new rare earth supply chain outside China
Aclara Resources is advancing a critical rare earth separation facility at Virginia Tech's Blacksburg campus, with first production of separated light rare earth oxides expected in May, marking a significant step toward establishing a domestic rare earth supply chain independent of China's dominance in the sector.
Teck’s undisclosed royalty worth billions on Barrick’s Fourmile could stymie IPO plans
Teck Resources holds a 10% net legacy profits interest over an area with 'meaningful' overlap with Barrick Gold's Fourmile copper discovery in Nevada, a royalty arrangement that could be worth billions and potentially complicate Barrick's planned IPO of the project. This undisclosed legacy interest gives Teck significant claim to profits from what analysts consider a major new copper asset, raising questions about project economics and deal structure as Barrick pursues independent listing plans.
Silver X raises $50M in oversubscribed debt placement
Silver X Mining has successfully raised $50 million through an oversubscribed private debt placement, marking a significant milestone in the company's capital strategy. The CEO characterized the financing round as a crucial step toward establishing Silver X as South America's leading silver producer, demonstrating strong investor confidence in the company's growth trajectory and operational plans.
WGC launches initiative to develop open platform for digital gold
The World Gold Council (WGC) has launched 'Gold as a Service,' an open platform initiative designed to bridge physical gold custody with digital systems for issuing and managing gold-backed products. This development aims to modernize the gold industry's infrastructure and unlock new opportunities for digital gold products in an increasingly tokenized financial ecosystem.
Gold and silver prices plunge as oil shock fuels inflation risks
Spot gold prices have experienced a significant decline of up to 6%, testing the critical $4,500-per-ounce support level last seen following the January crash, amid mounting inflation concerns triggered by unexpected oil price volatility. This market correction reflects broader economic uncertainty as investors reassess inflation expectations and central bank policy responses to commodity price pressures. The silver market has similarly declined alongside gold, signaling a broader precious metals selloff driven by macroeconomic headwinds.
Newcore Gold lifts Enchi’s resource by 24% in Ghana
Newcore Gold has increased the mineral resource estimate for its Enchi project in Ghana by 24%, bringing total indicated and inferred resources to 2.13 million ounces of gold, comprising 1.5 million ounces indicated and 626,000 ounces inferred. This significant resource expansion at the West African asset demonstrates the project's growing potential and validates Newcore's exploration strategy in one of Africa's premier gold jurisdictions.
Chilean court revives $2.5B Dominga project permit
A Chilean court has revived the $2.5 billion Dominga iron oxide and copper project after reversing a previous environmental rejection, keeping the controversial mining venture alive as the Supreme Court prepares to deliver a final ruling. The project, backed by mining companies including Andes Iron and Japan's Sumitomo Metal Mining, has faced significant environmental opposition due to its location near protected coastal areas in the Coquimbo Region. This court reversal represents a critical juncture for the project's viability, with the Supreme Court decision expected to determine whether Dominga can proceed or faces permanent termination.
Freeport seeks permit for $7.5B Chile copper expansion
Freeport-McMoRan is pursuing environmental permits for a $7.5 billion expansion of its El Abra copper mine in Chile, which would extend operations beyond 2029 and increase production more than threefold. This expansion represents a significant strategic commitment to Chilean copper mining and could substantially reshape the country's copper production rankings amid growing global demand for the critical mineral.
Orla secures final permit to advance underground mining at Camino Rojo
Orla Mining has secured the final permit needed to develop an underground mining operation at its Camino Rojo project in Mexico, which is projected to deliver a 30% internal rate of return (IRR) over 17 years based on gold prices of $3,100 per ounce. The underground expansion beneath the existing open pit represents a significant capital deployment opportunity for the company to extend the asset's mine life and improve project economics.
Energy price volatility has long-tail effects on commodities, says manganese producer
South Africa, the world's largest manganese ore producer, is experiencing significant operational impacts from energy price volatility, which creates long-tail effects throughout the commodities market. Energy costs are a critical component of manganese production, and fluctuations in electricity prices directly influence both production levels and commodity pricing, affecting downstream industries reliant on manganese for steel manufacturing and battery applications.
Canada, Peru sign MOU on critical minerals, sustainable mining
Canada and Peru have signed a Memorandum of Understanding (MOU) to strengthen cooperation on critical minerals and sustainable mining practices, leveraging Canada's position as the second-largest investor in Peru's mining sector. This strategic partnership aims to align both nations' mining operations with environmental standards and supply chain demands while addressing global demand for battery metals and critical minerals essential for the energy transition.
Royal Road eyes underground mine as Colombia drilling resumes
Royal Road Minerals is advancing exploration activities in Colombia with plans to develop an underground mining operation, leveraging its position as the country's largest mining concession holder with over 1,800 square kilometers of combined mining rights and applications. The company's resumed drilling campaign underscores Colombia's growing importance as an exploration destination and Royal Road's commitment to converting its substantial land package into productive mining assets.
Gold price drops to month-low on rate cut uncertainty
Spot gold prices declined as much as 3% to $4,836 per ounce, marking their lowest level since February 17, as investors reassess expectations for Federal Reserve interest rate cuts amid mixed economic signals. This pullback reflects growing uncertainty about the timing and magnitude of potential rate reductions, which traditionally support gold prices by reducing the opportunity cost of holding non-yielding precious metals.