Today's Mining Pulse
Ximen Mining Deploys Robotic Dog to Accelerate Underground Surveys
Ximen Mining has introduced an autonomous robotic dog at its Kenville mine project in British Columbia, cutting underground survey time by roughly 30%. The move underscores a broader industry shift toward automation and faster, safer data collection.
Also developing:
By the numbers: Ganfeng invests $319M in Australian Mount Marion lithium mine
ABTC Claims Record Revenue, Positive Growth Margin in Third Quarter of FY26
American Battery Technology Co. (ABTC) reported a record $7.8 million in third‑quarter FY26 revenue, up 64 percent QoQ, and posted its first positive gross margin of $738 k. The Nevada recycling plant’s improved efficiency drove cost‑of‑goods‑sold growth to only 11 percent, while the company now holds $38.5 million in cash with zero debt. ABTC announced plans for a second recycling facility in the Southeast U.S. and highlighted progress on its Tonopah Flats lithium mine and refinery, moving toward commercial production.
Silver Price Jumps to Two-Week High Despite US-Iran Deadlock
Spot silver surged 7% to nearly $86 per ounce, hitting a two‑month high despite a deadlock in US‑Iran peace talks. Gold edged up about 0.4% as investors weighed the geopolitical tension and broader macro data. Technical analysis shows silver breaking...
“Twiggy” Pulling Out of Rare Earths? The Real Story Is Much Bigger.
Wyloo Metals, the private vehicle of mining magnate Andrew Forrest, has not abandoned the Yangibana rare‑earths project but has shifted from financing partner to 60% owner and operator. The firm recently sold its Neo Performance Materials shares for roughly C$165.5 million...
Geopolitical Tensions Set to Spike Energy and Metal Prices, Analysts Warn
Bank of America strategist Michael Hartnett says commodities will be the biggest trade of the next five years as fresh explosions near Iran’s Strait of Hormuz and a tense US‑China summit raise supply‑risk fears. The events have already pushed West...
Silver Prices Becomes Increasingly Volatile To The Upside - Production Impaired Globally
Silver prices have surged with pronounced volatility over the past week, reflecting growing market tension. Analysts link the rally to a looming supply crunch as sulfuric acid shortages disrupt copper and other base‑metal mines that generate roughly a quarter of...
Iran War Chokes ‘Major Driver’ of Global Economy
The U.S. war in Iran has choked the Strait of Hormuz, trapping roughly 15 million barrels of crude and 5 million barrels of petroleum products each day. The resulting supply squeeze pushed U.S. diesel prices 60 percent higher than a year ago, the...
Indonesia Postpones Royalties Bump
Indonesia’s Ministry of Energy and Mineral Resources announced a postponement of the scheduled increase in mine royalties. Minister Bahlil Lahadalia said the delay is intended to allow the government to develop a more beneficial formulation of the royalty structure. The...
Institutions Bet $22M on Copper Supercycle by 2026
Big money just spoke loud and clear on the LME. A monster Sept ’26 15,500–17,000 call spread traded in 5,500 lots for roughly $22 million in premium. That’s not retail noise, that’s institutional conviction betting copper is heading significantly higher by late...
Galiano Assays Expand Asanko Gold Mine in Ghana
Vancouver‑based Galiano Gold announced new assay results from its Asanko mine that extend the Abore underground deposit well beyond the current resource. Notable intercepts include 53 m at 3.9 g/t Au from 179 m depth and a high‑grade 6 m at 8.4 g/t Au from...
Silver Surges as Demand Outpaces Constrained Supply
Oops. I was told the silver bubble burst two months ago and that it was never coming back. That view failed to understand a simple reality: Commodities never peak when structural demand is rising while both current and future supply remain heavily constrained. Classic...
Quantum Announces Participation in the Critical Minerals Institute (CMI) Summit
Quantum Critical Metals Corp. announced its participation in the Critical Minerals Institute (CMI) Summit 5, scheduled for May 13‑14, 2026 in Toronto. CEO Marcy Kiesman will deliver a featured talk on the geopolitics of rubidium, gallium and cesium. The two‑day event convenes mining, defense,...
TMC and Allseas Sign Agreement for Offshore Nodule Recovery Operation
The Metals Company (TMC) has signed a contract with offshore contractor Allseas to develop, commission and operate the world’s first commercial polymetallic‑nodule collection system in the Clarion‑Clipperton Zone. The system, featuring two collector vehicles, a four‑kilometre riser, and the surface...
Namibia: Otjikoto Mine Exceeds Expectations in First Quarter
B2Gold’s Otjikoto Mine in Namibia delivered 24,529 ounces of gold in Q1 2026, far surpassing internal forecasts and boosting the company’s total first‑quarter production to 237,763 ounces. The surge stemmed from a higher‑than‑expected ore grade, despite modest mill‑throughput reductions caused...
Copper Shrugs Off Middle East Uncertainty to Eye Record High
Copper is approaching its highest ever close, trading around $13,730 per ton on the LME, as broader base‑metal prices rise despite the US‑Iran standoff. Tight supply, declining Chinese inventories, and strong demand from clean‑tech exports are driving the rally. Analysts...
Rising Gold Prices Reshape Engagement Ring Market as Material Value Dynamics Shift
New research from 77 Diamonds shows that soaring gold prices have cut jewelry‑sector gold demand by more than 23% in Q1 2026, even as overall global gold demand rose 2.1% year‑on‑year. Gold prices jumped 16.2% quarter‑over‑quarter, making newly produced gold rings less...
Variscan Mines Uncovers High-Grade Historic Zinc Results Across Novales Trend in Spain
Variscan Mines released a compiled historic drilling dataset for its Novales‑Udías Zinc Project, revealing multiple high‑grade zinc intercepts across the Novales Trend in northern Spain. The data, drawn from over 146 historic holes and more than 52,000 m of drilling, extends...
Policy Frictions, Trade Disruptions Shape Metal Flows – Report
Heraeus' May 11 “Precious Appraisal” report highlights how lingering US‑Iran tensions and trade frictions are driving volatility in precious‑metal markets, with gold up 2.7% and silver up 5.1% as Brent crude fell 6.2% and the S&P 500 rose 1%. In India, gold...
How US Met Coal Should Actually Be Priced
The final installment of the series critiques Platts’ three‑index methodology for US metallurgical coal and proposes a seven‑index framework that aligns pricing with actual regional product characteristics. It shows how the current LV, HVA and HVB assessments lump disparate coal...
Barrick Q1 Beats Gold Forecast, Launches $3 B Share Buyback and U.S. IPO Plans
Barrick Mining Corp posted first‑quarter 2026 results that topped gold production guidance at 719,000 ounces and generated $2.55 billion in operating cash flow. The company also announced a $3 billion share‑buyback program and confirmed its North American IPO is on track for...
Power Minerals to Begin Drilling at Morro Do Ferro Project in Brazil
Power Minerals will commence its initial diamond drilling campaign at the Morro do Ferro Rare Earths Project in Minas Gerais, Brazil, following a recent acquisition. The program includes 3,000 m of core drilling and 800 m of larger‑diameter drilling to test high‑grade...
K+S Group Posts €156.9 Million Q1 Loss as Potash Prices Slide
K+S Group posted a €156.9 million (≈$170 million) loss after tax for Q1 2026, driven by weakening potash prices and an oversupplied market. Revenue rose to €1.06 billion, but the price slump erased earnings gains, signaling stress in the global fertilizer sector.
Ontario Spotlight: Four Explorers Worth a Look – Part 2
Ontario remains a global mining powerhouse, and four junior explorers are positioning themselves for rapid growth. Kirkland Lake Discoveries expanded its 400‑sq‑km portfolio with high‑grade copper‑zinc‑gold intersections at KL West and the newly acquired Mirado project. Onyx Gold is executing...
Current Price of Oil as of May 11, 2026
Oil prices rose to $107.67 per barrel for Brent crude on May 11, 2026, up 48 cents from the previous day and roughly $43 higher than a year ago. The increase reflects tightening global supply, OPEC+ output decisions, and robust U.S. shale...
Ionic Closes Recycled Rare Earth Loop
Ionic Rare Earths (IonicRE) announced the first fully circular supply chain for permanent‑magnet rare earths used in electric‑vehicle motors, delivering a Ford EV rotor made entirely from recycled material. The project demonstrates that rare‑earth magnets can be produced without any...
China Drives Platinum Surge, Prompting South African Production Boost
China is pulling platinum into the country hard. A major Chinese refiner reports surging physical delivery demand on the new Guangzhou Futures Exchange platinum contract. Speculators and industrial users are opting for delivery rather than closing shorts, capturing the premium over...
Perenco Raises Oil Production Capacity in Congo-Brazzaville
Perenco announced a 6,000‑barrel‑per‑day uplift at the Tchibouela East field in Congo‑Brazzaville after completing an enhanced‑oil‑recovery and five‑well infill campaign. The company has launched a new five‑well drilling program on the Masseko field to test a fresh geological horizon. In...
Delayed Publication of Germanium Dioxide China Price Assessment: Pricing Notice
Fastmarkets announced that its May 8, 2026 Germanium dioxide, in‑warehouse China price (MB‑GER‑0006) was published late due to a reporter error, with the corrected data released on May 11. The pricing database has been updated, and the delayed price is part of the...
Elasticity Holds Crude, Corn Prices; Copper Vulnerable to Market Swings
Crude, Corn, Copper vs. Primary Forces of Elasticity, Dependency Elasticity is a top force that has kept the primary energy and agriculture commodities -- crude oil and corn -- under price pressure for decades, and 2026 is a good test. Ample...
Copper Prices Now Riding on US Stock Market
Copper Heavily Reliant on a Rising Stock Market Copper appears increasingly dependent on the US stock market to keep going up for the metal not to go down. My graphic featuring the per-pound price of copper on the same scale as...
Vicinay Marine, Tecnalia Develop Remote Offshore Mooring Corrosion Sensor
Vicinay Marine and Spain’s research centre Tecnalia have co‑created a sensor that remotely tracks corrosion on offshore mooring lines using electrical resistance measurements. The device provides real‑time section‑loss data, models degradation trends and predicts remaining service life. Validation took place...
Corn Set for Second-Half Price Pressure, Consumers Benefit
Corn, Like Crude, Faces 2H Price Pressure Similar to crude oil, the US is the largest producer of corn and a net exporter, while prices have bounced in 1H and domestic supplies are ample. The recipe benefits consumers, not prices. Full report...
Iran’s Alleged Million‑barrel Dump Is a Myth
Looking at photos of all suspected oil spills and slicks across the Gulf, around the Strait of Hormuz, and in the Gulf of Oman, anyone familiar with these issues will tell you the same: the claim that Iran is dumping...
Comstock Metals Prepares for June Start-Up of Solar Panel Recycling Facility
Comstock Metals, a subsidiary of Comstock Inc., will launch its commercial‑scale solar panel recycling facility in Silver Springs, Nevada, in June after completing equipment commissioning and testing the first unit. The plant uses a closed‑loop tailings recovery system to extract...
Goldman Sachs Lifts 2026 Nickel Forecast on Supply Squeeze
May 11 (Reuters) - Goldman Sachs raised its 2026 average nickel price forecast to $18,500 per metric ton from $17,200 on Monday, citing tighter Indonesian supply due to reduced ore quota allocations and sulfur shortages.
US Rare‑earth Push Meets Malaysian Ethical Opposition
Fascinating, the U.S. attempt to break China's rare earth magnet monopoly is running into opposition from the refiners in Malaysia, who don't want to produce materials that Israel can use to kill children. https://t.co/tDIKoVJGhP
Trump‑Xi Summit Targets Extension of Critical Minerals Truce Amid Trade and Geopolitical Tensions
President Donald Trump arrives in Beijing for a two‑day summit with Xi Jinping, where the leaders will negotiate an extension of the critical‑minerals truce that keeps Chinese rare‑earths flowing to the United States. The talks also cover trade, Iran, Taiwan...
Investor Buys 10M Westward Gold Shares, Betting on Nevada Discovery
Another million shares of @WestwardGold bought in the open market by @keith_neumeyer, giving him almost ~10M now. Is this tiny #gold explorer on the cusp of a discovery in NV this year? My overweight position says I like their odds...
Industrial Metals Surge as Data Center Demand Rises
You can't build all those data centers without industrial metals. The Bloomberg Industrial Metals index closed Friday at the highest level since June 2022. Included in this are aluminum, copper, nickel, zinc and lead. https://t.co/SSMF2A8lms
Nova Delivers Antimony Mining Equipment
Nova Minerals delivered more than 1.5 million pounds of equipment and supplies via a 90‑mile winter trail to its Estelle project in Alaska. The haul, funded by a $43.4 million Defense Production Act Title III grant, equips the company to upgrade the airstrip,...
Mutapa Gold Injects $12m Exploration War Chest, Targets 10-Year Life of Mine Across All Operations
Mutapa Gold Resources has earmarked over US$12 million for 2026 exploration to push each of its mines to a minimum ten‑year life of mine (LoM). The drive targets extending the Freda Rebecca mine, which currently has only four years of reserves,...
5 Minutes with… Haydon Mort
Haydon Mort, the founder of AI‑focused mining startups Geologize and SureOre, discussed his vision for data‑driven mineral exploration in a quickfire interview. He highlighted how Geologize leverages machine‑learning on decades of geological data, while SureOre delivers ore‑grade predictions with high...
Rosebery Cuts First New Portal in 30 Years
MMG has opened a new underground portal at its Rosebery Mine in Tasmania, the first such development in three decades. The portal, named after Tom McDonald who discovered the orebody in 1893, is part of a multi‑million‑dollar expansion designed to extend...
Kinross Adds Hitachi EX8000-6 to Mining Fleet at Tasiast
Kinross has commissioned a Hitachi EX8000-6 excavator at its Tasiast mine, making it the largest mining shovel in Mauritania and the fourth of its type delivered to Africa. The 800‑ton, 40 m³‑bucket machine was assembled and put into service in just...
Ignoring Oil Loss Sparks Global Energy and Industry Crisis
Dumb & Dumber @tylercowen dismisses energy & material reality He ignores ~1 billion barrels permanently lost & no end to the Hormuz crisis Oil, LNG, fertilizer, helium & shipping disruptions cascade through AI, food, mining & industry https://t.co/DGt5mHDspW #Oil #Energy
Stewart Aims to Keep It Simple at Sibanye-Stillwater
Sibanye‑Stillwater reported earnings of roughly $1.1 billion for the quarter, a 371 % jump driven by soaring gold and PGM prices. CEO Richard Stewart said the company will simplify its portfolio to five cash‑generating assets and cut gross debt by half, targeting...
Seadrill’s Backlog Reaches $3.1B with $860M in New Rig Deals
Seadrill announced that its contract backlog has risen to roughly $3.1 billion, driven by $860 million of new rig deals signed since February. The new work includes a three‑year extension for the West Polaris drillship with Petrobras worth about $480 million, plus Gulf‑region extensions...
Caledonia Invests US$3.8M in Motapa as Bilboes Project Gains Momentum
Caledonia Mining Corporation is allocating $3.8 million to accelerate exploration at its Motapa gold project, part of a $162.5 million capital programme that also funds the Bilboes development, slated to become Zimbabwe’s largest gold mine. A Preliminary Economic Assessment projects Bilboes will...
Woodside’s Delayed Browse LNG Project Cost Estimate Climbs to $35B
Woodside Energy’s Browse LNG project, Australia’s largest untapped gas development, now carries a capital cost of A$48.7 billion (about $35.2 billion), up from A$27.3 billion in 2019 after a carbon‑capture and storage (CCS) module was added. The Deloitte‑commissioned assessment projects 3,068 full‑time jobs...
Tocvan Accelerates Gran Pilar: 5,000+ Meters Drilled to Date, Historic Workings Discovered on South Block, Pilot Progresses
Tocvan Ventures reports that its fully funded 20,000‑meter drill program at the Gran Pilar Gold‑Silver Project has now exceeded 5,300 meters, with results pending from 21 holes, including follow‑ups on the El Mezquite discovery. The company has secured a long‑term...
Gold: A Volatile Path Towards a New Base. WisdomTree’s Forecasts Through to the First Quarter of 2027
WisdomTree’s latest outlook projects gold moving toward a higher equilibrium by Q1 2027, but with sustained volatility. The metal spiked to a record $5,600 per ounce in January 2026 before plunging to $4,100, while quarterly demand jumped 74% YoY to $193 bn. New...