Today's Mining Pulse
Indonesia grants export monopoly to state trader, targeting $66B in resource revenues
Indonesia’s employers association and major mining cartels have endorsed President Prabowo Subianto’s new export monopoly, giving exclusive rights to state‑controlled trader PT Danantara Sumberdaya Indonesia (DSI). The policy aims to capture roughly $66.13B in annual resource revenues and curb historic tax leakage estimated at $908B.
Also developing:
Copper Bay Launches Drilling at Pyramid
Copper Bay has kicked off an 8,000‑meter, 20‑hole drill campaign at its Pyramid copper‑gold‑molybdenum project in southwest Alaska. The deposit, located 2.5 miles from deep‑water access, currently hosts an inferred 206 million‑ton resource averaging 0.41% copper, 0.09 g/t gold and 0.02% molybdenum. The program will test extensions such as SW Pyramid, Pyramid North, East and NE Breccia, while new CEO Carl Hallion oversees field work as the company readies an Australian Stock Exchange IPO.
DOE Allocates $500 Million for U.S. Critical Mineral Processing
DOE offers up to $500mn for US critical mineral processing and battery materials projects. https://www.metalnomist.com/2026/05/us-critical-mineral-processing-funding.html
Euro Manganese Delivers Positive Chvaletice Assessment with Phased Development Pathway
Euro Manganese (ASX: EMN) released a positive preliminary economic assessment for its Chvaletice manganese project in the Czech Republic. The post‑tax net present value is $492 million with a 13.8% internal rate of return and a 7.3‑year payback at an 8%...
Kenya’s President Ruto Rejects Raw Mineral Exports, Pushes Value‑Added Processing in Africa
Kenyan President William Ruto told delegates at the Africa Forward Summit that Africa must stop exporting raw green minerals and instead develop local value‑addition, advanced manufacturing and clean‑energy‑powered industry. His remarks come as the continent holds over 30% of the...
Ghana Shifts Gold Trade to UAE, Targeting Value‑Chain Gains
Ghana is redirecting its gold exports from traditional European hubs to the United Arab Emirates, leveraging Dubai's tax‑free regime, logistics, and refining capacity to move up the value chain. The shift, which accelerated after 2015, signals a strategic re‑orientation for...
Lumina Metals’ Poland Copper Silver Project: A World-Class Asset – by Muflih Hidayat (Discovery Alert – May 10, 2026)
Lumina Metals’ Nowa Sól deposit in southwestern Poland is being positioned as a world‑class copper‑silver project that delivers the rare commodity of certainty in a volatile mining sector. The asset ticks every box—massive scale, consistent grades, ready‑made infrastructure, a skilled local...
NGEx Hits 208g Gold at Lunahuasi Project in Argentina
NGEx Minerals announced ultra‑high‑grade gold assays from its Lunahuasi copper‑gold‑silver project in Argentina, highlighted by a 17.3‑metre intercept grading 207.79 g/t gold, 2.02% copper and 16.2 g/t silver. The results, part of a 27,318‑metre Phase 4 drill program, also included multiple high‑grade veins...
Barrick’s North American Spin-Off Draws Attention to Nevada Gold Treasure
Barrick Gold announced a spin‑off of its North American operations, creating a new entity that will house its 61.5%‑owned Nevada Gold Mines and 60% stake in the Pueblo Viejo mine. The combined assets produced roughly 2 million ounces of gold in...
Senegal Targets $7.5B Gas Project to End Energy Subsidies
Senegal’s state‑owned oil firm Petrosen announced that developing the Yakaar‑Teranga offshore gas field will require $7.5 billion, with a $2.5 billion first phase to produce 300 million cubic feet per day for domestic use and a $5 billion downstream expansion for fertilizer, petrochemical and...
First Quantum’s La Granja Vision Leaves Room for Trolley-Assist
First Quantum Minerals filed an NI 43‑101 technical report updating the La Granja copper project in northern Peru. The new estimate shows 4.831 billion tonnes of Measured and Indicated resources at 0.48% copper (23 Mt contained) and 5.206 billion tonnes of Inferred resources...
Namibia: Ongwe Strikes Higher Gold Grades At Omatjete
Ongwe Minerals’ bedrock drilling programme at the Manga prospect within the Omatjete Gold Project has confirmed higher‑grade gold deposits extending eastward under thick calcrete cover. CEO Dave Underwood said the rig remains active as the mineralised envelope expands beyond the...
Codelco Output Questioned over 20,000-Tonne Gap
Chile’s state‑run copper giant Codelco may have overstated its December output by roughly 20,000 tonnes, according to a preliminary internal audit that found a senior executive authorized inclusion of material not meeting finished‑product criteria. The inflated figure helped the miner...
U.S. Defense Dept. Invests $400 M in MP Materials, Boosting Project Vault’s Rare‑Earth Push
The U.S. Department of Defense has poured $400 million into MP Materials, taking a 15% equity stake and guaranteeing a $110/kg floor for neodymium‑praseodymium oxide. The move is part of the $12 billion Project Vault, a strategic effort to secure a domestic...
Mars Holds Trace Rubies and Opals, but Mining Them Remains Impractical
Researchers analyzing Perseverance data reported corundum (ruby‑sapphire) and hydrated silica (opal) in Jezero Crater, but the minerals are microscopic and formed by asteroid impacts. Experts say the economic case for Martian gemstone mining is weak, though the finds could unlock...
First Majestic Q1 2026 Revenue Jumps 95% as COO Highlights Operational Efficiency Gains
First Majestic Silver posted record Q1 2026 revenue of $477 million, a 95% year‑over‑year rise, and $311 million operating cash flow. COO David Howe credited disciplined cost controls, a new self‑hauling fleet and LNG‑based energy mix for the surge, while noting rising...
Launch of NCM Cathode Black Powder Payables, CIF China: Pricing Notice
Fastmarkets introduced the first payables indicators for nickel‑cobalt‑manganese (NCM) cathode black powder, CIF China, on May 13. The new pricing suite links the material’s value to a percentage of the LME nickel cash price and Fastmarkets’ standard‑grade cobalt price, reflecting...
'New Chapter': Panther Completes Winston Tailings Sampling
Panther Metals has released its sixth and final set of assay results from the Winston tailings storage facility in Ontario, completing a year‑long vibracore sampling campaign that covered more than 100 locations across the 900‑by‑300‑meter site. The assays show an...
USA Bureau of Land Management Fully Rescinds Public Lands Rule
The U.S. Bureau of Land Management issued a final rule on June 11, 2026, fully rescinding the 2024 Conservation and Landscape Health Rule. The original rule, enacted in May 2024, had tightened restrictions on energy and mineral extraction, timber harvesting,...
ReconAfrica Advances Kavango West 1X Production Testing in Namibia
ReconAfrica, together with NAMCOR and BW Energy, is moving forward with downhole production testing on the Kavango West 1X well in Namibia, targeting a start before the end of May. The test will assess six optimized zones across roughly 420 m of...
Amnesty International Says Nevada Lithium Boom Breaches Indigenous Rights
Amnesty International released a briefing accusing the U.S. government of breaching international human‑rights standards by advancing three lithium mines in Nevada without Free, Prior and Informed Consent from Indigenous peoples. The report spotlights Thacker Pass, Nevada North and Rhyolite Ridge...
Great Southern Copper Begins Drilling at Artemisa North
Great Southern Copper has begun scout reverse‑circulation drilling at the Artemisa North porphyry copper target in Chile’s Especularita Project. The program includes four holes aimed at testing a phyllic alteration zone and historic copper workings, following successful drilling at nearby...
Zimbabwe: Fidelity Gold Refinery Intensifies Drive to Formalise Small-Scale Gold Mining Sector, Plug Leakages
Zimbabwe's sole gold‑buying, refining and exporting firm, Fidelity Gold Refinery (FGR), is accelerating a formalisation drive for the artisanal and small‑scale mining (ASM) sector to curb illicit gold leakages. The country loses roughly $2 billion each year to smuggling, primarily from...
Ramaco Advances Wyoming Rare‑Earth Project to Strengthen U.S. Critical Mineral Supply
Ramaco announced the creation of three new entities and a Wyoming laboratory fit‑out, signaling the next phase of its rare‑earth mine project in the state. The move is designed to increase domestic supply of critical minerals and give the company...
FTSE 100 Surpasses 10,300 on Miner and Energy Rally Amid Middle East Tensions
The FTSE 100 jumped to 10,318.39, up 53 points (0.52%), driven by strong gains in mining and energy shares as Brent crude stayed above $110 a barrel. The move underscores a risk‑on tilt in European equities despite lingering Middle East...
Nth Cycle Lands $1.1bn Recycled Nickel‑lithium Deal with Trafigura
Nth Cycle signs $1.1bn Trafigura battery materials deal for recycled nickel and lithium supply. https://www.metalnomist.com/2026/05/nth-cycle-trafigura-battery-materials.html
Energy, Minerals, and the Physical Stack Behind AI
In this episode, Turner Caldwell of Mariana Minerals and Drew Begalino of Heron Power discuss how America’s AI and industrial future depends on revamping the physical stack of critical minerals, energy generation, and grid infrastructure. They explain their Tesla‑inspired, software‑first...
Gold Discovery Expands as Veteran Mining Executive Joins Ahead of 50,000-Meter Drill Push
Goliath Resources Ltd. announced the addition of veteran mining executive Alan Edwards to its advisory board as it prepares a fully funded, roughly 50,000‑meter drill campaign at the Surebet Gold Discovery within the Golddigger Project. The program, slated to mobilize...
Arafura Lands North American Offtake Deal with Traxys
Arafura Rare Earths has signed a binding offtake agreement with Traxys North America to supply 500 tonnes of neodymium‑praseodymium oxide and 7.5 tonnes of dysprosium‑terbium oxide each year from its Nolans project. The deal is expected to be formalized within the next...
U.S. and South Africa Push Critical Minerals Deal as $50 M DFC Funding Targets Rare Earths
The United States and South Africa deepened talks on a bilateral critical‑minerals partnership, spotlighting a $50 million U.S. International Development Finance Corporation investment in the Phalaborwa rare‑earth project. The move aims to reduce reliance on China and unlock South Africa’s vast...
US Tungsten Revival Breathes Fire Into Utah’s Historical Clifton Mining District
American Tungsten & Antimony (ASX:AT4) is reviving Utah’s historic Clifton Mining District by acquiring and refurbishing the Dutch Mountain tungsten mill. The $400,000, six‑month upgrade will restore the only fully permitted U.S. tungsten processing facility, allowing AT4 to process high‑grade...
USA Rare Earth Awarded $14.2 Million Texas Semiconductor Innovation Fund Grant to Accelerate Round Top Mountain Heavy Rare Earth Project
USA Rare Earth, Inc. received a $14.2 million grant from the Texas Semiconductor Innovation Fund to accelerate development of its Round Top Mountain heavy‑rare‑earth project in Hudspeth County. The state‑backed funding is tied to an anticipated $1.4 billion capital investment and the creation of...
Indonesia Delays Nickel, Copper, Tin, Gold Royalty Hike After Industry Push
Indonesia has postponed the June 2026 increase in royalties on nickel, copper, tin and gold after strong pushback from mining firms. The move pauses a draft that would have raised tin royalties up to 20% depending on price, while the...
EIA: Prolonged Strait of Hormuz Disruption Reshapes Global Oil Markets
The U.S. Energy Information Administration revised its outlook in May, now assuming the Strait of Hormuz will stay effectively closed through late May with a gradual reopening in early June. Brent crude spot prices surged to an average of $117...
SPR Should Be Emergency Reserve, Not Political Price Tool
🔴My views on the SPR as summed up by Grok: ▪️He frequently discusses the US Strategic Petroleum Reserve (SPR) in his tweets @anasalhajji and Substack writings (https://t.co/LfUHIpY0M2), as well as in interviews, podcasts, and op-eds. ▪️His overall position—consistent since at...
Falcon Gold Receives Drill Permit for Central Canada Gold Project, Atikokan Ontario –Quetico Fault Zone
Falcon Gold Corp. has obtained an exploration permit to conduct diamond drilling at its Central Canada Gold Project near Atikokan, Ontario. The company plans up to 20 drill holes totaling 2,500 metres to test and expand multiple historic gold zones....
TMC and Allseas Sign First Commercial Deep‑Sea Nodule Mining Deal, 3 Mtpa Capacity
The Metals Company (TMC) and offshore contractor Allseas have signed a development and commercial production agreement to build the world’s first large‑scale deep‑sea polymetallic nodule recovery system. The system will target 3 million wet tonnes per year, using two collector vehicles...
New Zealand Opens Fourth Petroleum Permit Round, Reviving Gas Exploration
New Zealand's government has launched a three‑month tender for a fourth onshore and offshore petroleum exploration permit in Waikato, marking the first such round since the 2025 ban was lifted. The application comes from a joint venture of East Coast...
Trump’s Ceasefire Warning Sends Oil Prices Higher Again
President Trump’s warning that the Iran cease‑fire is on “life support” sent Brent crude back toward $110 a barrel, reviving price gains of about 3% this week. Gulf producers, still repairing drone‑damaged facilities, now expect full output recovery only by...
Suriname’s Delayed Oil Boom Is Finally Ready for Takeoff
Suriname’s offshore oil sector is poised for a breakthrough as the $10.5 billion Gran Morgu project reaches 50% completion and targets first oil in 2028. The development, led by TotalEnergies and APA, will produce 220,000 barrels per day with breakeven costs...
Shuanglin’s Autonomous, Distributed Drive, Battery Multi-Axle Mining Truck
Shuanglin Technology unveiled the K7, a 158‑ton autonomous mining truck that uses distributed battery‑electric drive‑by‑wire corner modules for each wheel. The modular design lets each wheel steer, drive and brake independently, giving the truck crab‑like sideways movement and the ability...
Ivanhoe Buys $64.7M Robbins TBM for Arizona Mine
Ivanhoe Electric announced the purchase of a Robbins Crossover XRE tunnel boring machine for $64.7 million to develop a 4‑kilometre decline at its Santa Cruz copper project in Arizona. The 9.3‑meter‑diameter TBM will create a large‑diameter underground access tunnel, accelerating the...
Reko Diq Contracting Strategy, Capital Key to Restart
Barrick Mining has initiated a 12‑month review of its paused Reko Diq copper‑gold development in Pakistan to better understand the capital required and refine its contracting strategy. The review follows a shift in the project's partnership dynamics, notably the changed...
Canuc Acquires Claims Covering 271 Ha Within East Sudbury Project (ESP)
Canuc Resources Corp announced the acquisition of 13 additional mining claims covering roughly 271 hectares within its East Sudbury Project in Ontario. The new parcels sit east of the McLaren Lake Fault Zone, an area known for IOCG‑type critical and...
Xi’s Leverage Forces US to Rethink Taiwan Policy
FT says Xi now holds most of the cards ahead of the Trump meeting Liberation Day tariffs flopped once China’s critical mineral chokehold started shutting U.S. factories Now the Iran war fiasco has weakened Washington further EXPECT A REVISION OF THE US POSITION...
Dome Mountain Mine Hits 100 Tpd, Aims 150 Tpd
$BLLG $BLAGF turning the corner into commercial production at Dome Mountain Au-Ag Mine (BC)! ✅ 100 tpd underground achieved ✅ Targeting 150 tpd with 2nd contractor ✅ ~US$4.1M concentrate sales @bluelagoon_res
Global Copper Smelting Nosedives in April
Global copper smelting activity plunged in April, driven by a confluence of factors rather than a single event. Maintenance schedules in China curtailed production, while major smelters in Iran and Australia were offline. Chile's flagship Chuquicamata plant reported patchy operations,...
Copper's Unique Role Guarantees Rising Prices
There are no meaningful alternatives right now, at scale, for what copper does…so prices will… 🤔
Jeff Currie’s Podcast Appears to Jinx Copper, yet Trend Climbs
Every time Jeff Currie is on the podcast, it seems like copper takes a little dip and people say he (or, I suppose, we) jinxed it. But then you zoom out a little bit and the chart just keeps going...
Botswana’s 2026 Growth Outlook Trimmed to 3.7% Amid Diamond Volatility and Fuel‑Price Inflation
Economist Keith Jefferis says Botswana’s GDP is likely to rise only 3.7% in 2026, down from the IMF’s 4.7% forecast, as diamond output volatility, a war‑driven fuel shock and inflation above 10% weigh on the economy. The outlook highlights the...
Standard Lithium Secures Trafigura Offtake and Hits Milestones Ahead of Arkansas Plant Build‑out
Standard Lithium announced a binding 10‑year offtake deal with Trafigura for 8,000 t/yr of lithium carbonate and reported that its Arkansas demonstration plant processed its first million barrels of Smackover brine, clearing the way for a final investment decision and construction...