Today's Mining Pulse
U.S. pledges $500M to launch domestic rare‑earth processing plant
The U.S. Department of War’s Office of Strategic Capital has conditionally pledged $500 million in long‑term debt to Phoenix Tailings to build the Freedom Facility, a large‑scale rare‑earth separation and metallization plant slated for 2028. The plant will process mine concentrates, recycled materials and secondary sources to produce both light and heavy rare‑earth metals.
Also developing:
By the numbers: Baffinland Iron Mines secures $153M loan
US Allows Russia Oil Sales Waiver To Expire Despite Tight Market
The Trump administration let expire the temporary waiver that had permitted U.S. buyers to purchase Russian crude already on tankers, ending a brief easing of sanctions. The waiver, first issued in March and renewed in April, was intended to cushion a sudden supply gap caused by the Iran‑Israel war and the near‑closure of the Strait of Hormuz. Its lapse comes as Brent prices surge above $100 a barrel and as India and Indonesia lobby for continued access to Russian oil. Treasury Secretary Scott Bessent said the decision reflects concerns for vulnerable, energy‑poor nations.
Germany Evaluates Madagascar’s Molo Graphite Mine to Curb China Reliance
German federal geoscientists visited NextSource Materials’ Molo graphite mine in Madagascar, signaling a concrete step toward diversifying Europe’s battery supply chain away from China. The assessment is part of a broader EU push, supported by a €1 bn (≈$1.08 bn) raw‑materials fund,...
TMC Secures Allseas Production Deal and NOAA Approval, Targets Late‑2027 Offshore Nodule Launch
The Metals Company (TMC) announced a commercial production agreement with Allseas and confirmed NOAA regulatory compliance for its U.S. seabed mining project. The deals set the stage for commissioning its first offshore nodule collection system in late 2027 while the...
Sulphuric Acid Shortage Becomes New Metal Supply Bottleneck
The indefatigable genius, Craig Tindale, has done it once again with a deep-dive analysis on the supply crunch of the chemicals needed to make the world go round. The situation the world finds itself in has never before been articulated as...
10 Mining Stocks Printing Absurd Cash Flow While the Market Flushes
The latest mining newsletter highlights that despite a sharp 9% drop in silver and a pullback in gold, many miners posted record Q1 cash flow and balance‑sheet strength. Wheaton Precious Metals posted $901 million revenue and $2.2 billion cash, while Hecla Mining...
UAMY Posts $11.3M Net Loss in Q1 2026 as Zeolite Shipments Surge
United States Antimony Corp (UAMY) released its Q1 2026 earnings, showing revenue of $6.8 million, a net loss of $11.3 million and record zeolite shipments. The company raised $48.6 million through an equity issuance and secured a $12.8 million federal grant, underscoring a shift...
Only $40 Oil Can Halt Growing US Surplus
It May Take $40 Oil to Curtail US Supply Surplus Plunging US demand vs. supply for crude has buffeted broad commodity prices for about two decades, underscoring a key force -- elasticity. Nearing a surplus of 8 million barrels a day...
Rio2 Reports First Quarter 2026 Financial Results and Operations Update
Rio2 Limited posted its first‑quarter 2026 results, marking the start of production at the newly commissioned Fenix Gold mine in Chile and the early cash‑flow contribution from the recently acquired Condestable copper mine in Peru. Consolidated output reached 7,849 ounces...
Japan Commissions Purpose-Built Ship to Launch Deep‑sea Rare‑earth Mining Program
Japan’s government will fund a purpose‑built deep‑sea vessel to extract rare‑earth sediments from the Pacific floor, aiming to scoop up to 350 tonnes per day. The move is framed as a national‑security priority to reduce dependence on China’s dominant rare‑earth...
China Tightens Rare‑Earth Export Controls, Prompting Global Supply‑Chain Realignment
China imposed export controls on seven rare‑earth elements in April 2025, slashing shipments and sparking fears of further disruption. After the Xi‑Trump summit, Beijing’s foreign ministry issued a calibrated statement, leaving the future of rare‑earth trade uncertain and prompting allies...
MAX Power Mining, Moose Jaw to Advance Natural Hydrogen Commercialization
Canadian junior MAX Power Mining (CSE: MAXX) has signed a memorandum of understanding with the City of Moose Jaw to advance the commercialization of natural hydrogen in Saskatchewan’s Regina‑Moose Jaw Industrial Corridor. The agreement targets the Lawson discovery, Canada’s first...
Pentagon’s ‘Deal Team Six’ Aims to Challenge China’s Grip on Rare Earth Power – by Kate O’Keeffe (Japan Times –...
Washington has assembled a covert unit dubbed “Deal Team Six” to break China’s monopoly over rare‑earth minerals and permanent magnets. The team, composed mainly of former Wall Street financiers, is designing multi‑billion‑dollar deals that combine equity stakes, long‑term price floors,...
‘The World Needs Us’: PH-Indonesia Nickel Pact to Corner Global Supply – by Morexette Marie B. Erram (Cebu Daily News...
Indonesia and the Philippines, two of the world’s largest nickel producers, signed MOUs at the ASEAN summit to deepen cooperation on critical minerals. The pact focuses on joint investments, technology sharing, and market coordination to secure nickel supply for electric‑vehicle...
Oregon Lithium Find Could Power U.S. Batteries, Sparks Resistance
Massive Oregon lithium discovery could transform US battery production while igniting fierce environmental and tribal resistance battles https://t.co/iLteTtvG64
Trump Leaves Beijing with No Rare Earth Deal Confirmed
President Donald Trump returned from a two‑day summit in Beijing without securing a concrete rare‑earth agreement, despite touting the trip as a success. The United States is seeking more reliable access to rare‑earth minerals essential for electric vehicles, semiconductors and...
LibertyStream Scales Direct Lithium Extraction, Targets Battery Boom
LibertyStream Infrastructure Partners announced a major scale‑up of its direct lithium extraction (DLE) operations in Howard County, Texas, processing more than 400,000 barrels of oilfield brine and completing over 2,500 field tests, positioning the startup to meet soaring battery demand.
Water Shortages Are Quietly Killing Mining Projects — New Tech Rises to Fix It
Mining projects are increasingly derailed by water scarcity, as permitting timelines and community opposition turn water into a core economic constraint. Experts note that water permits can add two to four years to schedules, a factor often omitted from early...
Moose Jaw Backs Max Power’s Natural Hydrogen Ambitions
Max Power, a Canadian clean‑energy startup, announced that the city of Moose Jaw will back its natural hydrogen project with financial incentives, land access and workforce training. The partnership aims to produce roughly 10,000 tonnes of low‑carbon hydrogen per year, leveraging carbon‑capture...
Goldman Adds SMRs to Nuclear Model, Sees 17% Upside in Uranium Demand
Goldman Sachs has revised its nuclear power model to include roughly 46 GW of small modular reactor (SMR) capacity by 2045, raising its nuclear generation outlook by 6% and adding 62 million lb of uranium demand – a 17% increase over previous forecasts....
TD Securities Reiterates “Buy” Rating On Uranium Energy (UEC) Following Q2 Fiscal 2026 Results
TD Securities reiterated its "Buy" rating on Uranium Energy Corp. (UEC) after the company posted Q2 fiscal 2026 results and announced production at the Hobson Central Processing Plant, the first new U.S. in‑situ recovery (ISR) uranium mine in over a...
Nouveau Monde to Proceed with G7’s Biggest Graphite Mine
Nouveau Monde Graphite confirmed a final investment decision for its Matawinie graphite mine in Quebec, completing a $309.7 million equity raise and bringing total project funding to roughly $644.5 million. The open‑pit mine, slated to start construction soon, will produce about 106,000 tonnes...
DRC Mining Cadastre Reports Strong Revenue Growth and Advances in Mining Title Reforms
The Democratic Republic of Congo’s Mining Cadastre (CAMI) reported a sharp rise in state revenues, remitting $32.4 million in 2024 versus $11 million in 2023. Over the past two years the agency recovered about 50,000 sq km of mining land through streamlined title management....
Zambia Approves Limited Sulphuric Acid Exports to DRC as Copper Smelters Resume Shipments
Zambia has approved limited sulphuric acid exports to the Democratic Republic of Congo, easing a ban that began in September. The move enables Chambishi Copper Smelter and Mopani Copper Mines to restart shipments of the chemical essential for copper and...
Senators Push Pentagon to Fund Domestic Lithium Supply Chain in Smackover Formation
Senators Tom Cotton, John Boozman and Ted Cruz sent a letter to the Department of War urging it to treat the Smackover Formation lithium deposit as a priority under the Defense Production Act. The move aims to reduce U.S. dependence...
Deep‑Earth Diamonds Yield Two New Minerals, Prompting Fresh Insight for Mining
Scientists at the American Museum of Natural History identified two previously unknown minerals—bernwoodite and kopylovite—trapped in deep‑earth diamonds. The discovery, confirmed by the International Mineralogical Association, offers new clues about mantle chemistry and could shape future high‑pressure mining techniques.
Newcore Announces Upsized $15 Million Bought Deal
Newcore Gold Ltd. announced an upsized $15 million bought‑deal financing, increasing the offering from $10 million to 28.3 million common shares priced at C$0.53 each, with closing expected by May 28, 2025. The proceeds will fund exploration and development of the Enchi Gold Project in...
UK Moves to Ban New North Sea Oil and Gas Licences Permanently
The UK government’s Energy Independence Bill will permanently ban new oil and gas licences in the North Sea, fulfilling Labour’s pre‑election clean‑energy pledge. The move comes as oil prices have surged amid the Iran conflict, intensifying scrutiny over Britain’s energy...
US Allies Struggle to Secure Critical Rare Earths From China
US and its allies aim to loosen China’s grip on one of the world’s most contentious supply chains. Yet the rare earths that matter most remain out of reach https://t.co/7VbqvmubOw
From Variability to Control, Molycop's OreVia Platform
Molycop has launched OreVia, a real‑time process characterisation platform that monitors rock, slurry and froth conditions across comminution and flotation circuits. The system gives operators continuous visibility, allowing proactive adjustments to feed strategy, grinding media and froth stability. Deployments report...
Grinding Efficiency at the Centre of the Energy Transition
Grinding circuits, which can consume up to 40% of a mine’s electricity, are now a board‑level focus as mining firms chase lower costs and carbon footprints. ABB’s gearless mill drive (GMD) technology replaces traditional gearboxes with a synchronous ring motor,...
Hindustan Zinc Aims to Unlock ₹2,000 Cr in Value Through AI Push
Hindustan Zinc Ltd, part of Vedanta, announced at Zinnovation 2026 that it will pursue an AI‑led transformation worth about ₹2,000 crore (roughly $240 million). The initiative, run with V‑Spark DeepTech Ventures, targets productivity, cost, asset reliability, energy efficiency, safety, recoveries and faster decision‑making...
Velesto Lines up Multi-Well Offshore Rig Job in Southeast Asia
Malaysia’s Velesto Energy has landed a charter contract with Hibiscus Oil & Gas to provide a jack‑up rig for a 2026 offshore drilling campaign. The agreement, Velesto’s first asset‑light arrangement, includes drilling eight plug‑and‑abandonment wells, one exploration well and up...
The Tech Download: Trump's China Visit Left Chip Export Issue Unresolved, with Rare Earths Deal Still Uncertain
President Donald Trump’s May 2026 visit to China, accompanied by top U.S. tech CEOs, failed to address the looming chip export control dispute, leaving Nvidia’s H200 AI chip sales to Chinese firms in limbo. The bilateral talks also left the...
Lithium Americas Sees up to $120M Tariff Hit on Thacker Pass
Lithium Americas disclosed that U.S. steel tariffs, inflation linked to the Iran‑Houthi conflict, and shipping disruptions could increase construction costs at its Thacker Pass lithium project by $80 million to $120 million. The company now projects Phase 1 spending between $1.3 billion and $1.6 billion,...
Lithium Americas Sees up to $120M Tariff Hit on Thacker Pass
Lithium Americas disclosed that U.S. tariffs, fuel-price spikes and Middle‑East‑linked inflation could increase construction costs at its Thacker Pass lithium mine by $80 million to $120 million. The company’s Phase 1 capital estimate now exceeds the original $2.93 billion forecast as it moves toward...
Building a Mine-to-MREC Value Chain From Malawi to Kazakhstan
Lindian Resources, an Australian‑listed miner, announced a vertically integrated mine‑to‑MREC (metal rare‑earth concentrate) value chain that will move rare‑earth ore from its Kangankunde project in Malawi to a new processing facility in Kazakhstan. The plan, detailed at a recent stakeholder...
USA Rare Earth Posts $67 M Loss but Secures $1.6 B US Funding and Brazil Acquisition
USA Rare Earth (USAR) posted a $67 million net loss for Q1 2026 but ended the quarter with $1.75 billion in cash after a $1.5 billion private placement. The company also announced a $300 million acquisition of Brazil’s Serra Verde Group and a pending...
Indonesia’s Nickel Dominance Reshapes Global Supply Outlook
Global nickel output rose 6.1% in 2025, driven almost entirely by Indonesia’s aggressive expansion across sites such as Weda Bay, Gag Island and Morowali. Brazil and Canada added modest gains, while Australia’s production plunged 58.6% and the Philippines saw declines...
Perseus Continues to Progress Tanzania Project to First Gold
Perseus Mining’s 80%-owned Nyanzaga gold project in Tanzania is moving toward first gold production in the first quarter of 2027. Four of the seven carbon‑in‑leach (CIL) tanks have reached full height and the original‑equipment‑manufacturer has begun mill installation. The camp...
UAE Speeds Up Pipeline Project to Help Bypass Hormuz
The United Arab Emirates has ordered the fast‑track construction of the West‑East oil pipeline, aiming to double its Fujairah export capacity by 2027 and provide a reliable bypass of the Strait of Hormuz. Crown Prince Sheikh Khaled bin Mohamed bin...
Caturus Takes FID on Commonwealth LNG Project in Louisiana
Caturus announced a final investment decision for its Commonwealth LNG export project in Louisiana after securing $9.75 billion in project financing. The total capital commitments now stand at $21.25 billion for a 9.5 million‑tonne‑per‑annum facility slated to start operations in 2030. Long‑term offtake...
Nigeria: Nigeria's Mining Data Exists Online, but Communities Most Affected Cannot Access It
Nigeria’s mining oversight is digitized, yet rural communities near Shiroro cannot access the online licensing and environmental data. Residents of Ajata Aboki and Farin Doki see the Onato stream polluted by artisanal and possibly foreign gold mining, yet they cannot identify operators...
Resolution on First Hole in Campaign to Define Scale of Golden Gate Tungsten and Gold
Resolution Minerals has begun the first hole of a 13,700‑meter diamond core drilling campaign at its Golden Gate project in Idaho, aiming to delineate the extent of gold and tungsten mineralisation across up to 45 holes. The program follows encouraging...
Clean TeQ Water Wins Rasp Mine Tailings Dewatering Plant Contract From Broken Hill Mines
Clean TeQ Water has been awarded a design‑and‑construct contract by Broken Hill Operations to build a 750,000‑tonne‑per‑year ATA tailings dewatering plant at the Rasp Mine in New South Wales. The plant will replace higher‑cost solar drying, enabling the mine to...
U.S. Secures Long‑Term Cobalt Supply From Congo, Arizona Refinery Plans Advance
EVelution Energy LLC, the Democratic Republic of Congo’s state‑owned Enterprise Générale du Cobalt and commodity trader Trafigura signed a memorandum of understanding in Madrid to channel Congolese cobalt hydroxide to a new U.S. refinery. The project aims to meet roughly...
Congo Mobilizes Global Partners to Clamp Down on Illegal Cobalt Mining
The Democratic Republic of Congo’s state cobalt agency, Entreprise Générale du Cobalt (EGC), has launched a coordinated crackdown on illegal hand‑mined cobalt, partnering with multinational miners to allocate designated “squares” for artisanal cooperatives. The move aims to improve safety, protect...
India and China Double Down on Coal Consumption
China accelerated its coal rollout in 2025, commissioning more than 50 large‑scale units—each 1 GW or larger—far outpacing the sub‑20 units typical of the previous decade. The surge reflects a wave of new coal mines coming online, underscoring Beijing’s continued reliance...
Canadian-Owned Lithium Mines in Nevada Violate Indigenous Rights: Amnesty International
Amnesty International’s May 12 report says three Nevada lithium projects – Thacker Pass, Nevada North and Rhyolite Ridge – violate Indigenous rights by failing to secure Free, Prior, and Informed Consent (FPIC). Two of the mines are backed by Canadian firms,...
Ariana Grows Dokwe Footprint as Drilling Extends Gold Beyond Resource Boundary
Ariana Resources announced that recent reverse‑circulation (RC) drilling at its Dokwe gold project in Zimbabwe has pushed gold mineralisation at Dokwe North more than 150 m beyond the current resource envelope and remains open along strike. The best intercepts include 22 m...
Found Industries Aims to Strengthen America’s Industrial Supply Chains
Found Industries, originally founded as Found Energy, is launching a new division called Found Metals to extract the critical metal gallium from aluminum refinery streams. The move addresses U.S. reliance on China, which supplied 99% of global gallium in 2024,...