Today's Mining Pulse
Indonesia grants export monopoly to state trader DSI, targeting $66bn 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 PT Danantara Sumberdaya Indonesia. The policy seeks to capture roughly $66.13 billion in annual resource revenues—about 23.4% of exports—and to curb $908 billion in historic tax leakage.
Also developing:
DARPA Chief Says Agency Must Harness Commercial Space Boom
DARPA director Stephen Winchell announced a strategic shift to treat the agency’s space portfolio as a bridge to the booming commercial market, leveraging private‑sector advances in launch, satellite manufacturing, and on‑orbit services. The agency will use its flexible contracting and risk tolerance to integrate emerging commercial capabilities into defense prototypes for faster transition. DARPA is investing in foundational technologies such as propulsion, maneuverability, on‑orbit assembly, and space‑domain awareness tools like Space‑WATCH, while still funding basic science programs like AtmoSense. The FY2027 budget request includes about $1.8 billion for DARPA, with Winchell seeking additional space funding.
AIDEA Advances Ambler Road Field Program
AIDEA has reinstated permits and kicked off a 2026 field program to gather geotechnical, hydrological, permafrost and fish‑habitat data along the proposed 211‑mile Ambler Road corridor. Crews from the Alaska Department of Fish & Game, HDR Engineering and Alaska Native‑owned...
Canada Giving $1.1 Billion to Firms Hit by US Metal Tariffs
Canada announced a C$1.5 billion ($1.1 billion) aid package to help firms hurt by the United States’ new metal‑tariff regime. In early April, the Trump administration replaced a 50% tariff on metal content with a 25% surcharge on the total value of...
ADB Launches $1.02 Bn Minerals-to-Manufacturing Financing Facility for Asia
The Asian Development Bank (ADB) unveiled a Critical Minerals‑to‑Manufacturing Financing Partnership Facility backed by $20 million from Japan, $1.6 million from the United Kingdom and $500 million memoranda from Korea Eximbank and K‑SURE. The platform aims to move Asian economies from raw‑material exporters...
Cambodia Delays Release of Water Test Results Amid Mining‑Linked Health Complaints
Cambodia’s Ministry of Environment sent teams to sample water, sediment and fish in the O’Ta Bouk River after Indigenous Brao villagers reported skin rashes linked to a gold mine. More than two months later, the government has not released any...
Romanian Neptun Deep Black Sea Gas Project Begins to Lay Pipeline
Romania has started laying a 160‑kilometre pipeline for the Neptun Deep offshore gas field, one of the EU’s largest undeveloped gas deposits at roughly 100 billion cubic metres. The joint venture between OMV Petrom and state‑owned Romgaz aims to begin production in...
Qatar Extends Force Majeure on LNG Supply Through Mid-June
QatarEnergy has extended the force majeure on its LNG deliveries until mid‑June because the Strait of Hormuz remains almost entirely closed to tanker traffic. The suspension follows earlier force majeure notices issued after the Iran‑Israel conflict escalated in February and...
South Africa: Edge Growth-Managed Abadali Fund in Engineering Services Deal
Edge Growth Ventures has invested capital from its Abadali Fund into Siyanqoba, a 100% black woman‑owned engineering firm in Mpumalanga, South Africa. The funding, part of the government‑backed Abadali Equity Equivalent Investment Programme partnered with J.P. Morgan, will finance specialised...
Brazil’s Competitive Advantage in Critical Minerals – CEO Interview
Brazil is leveraging its diverse geology and pro‑investment climate to build a competitive edge in critical minerals such as rare earths, graphite, and silica. Lower operating and capital expenditures compared with hard‑rock regions like Canada make Brazil attractive for vertically...
Coal Miner Thungela Digs in over Shareholder Rights
South African coal miner Thungela is fighting a Gauteng High Court case brought by Aeon Investment Management, Fossil Free SA and activist group Just Share, who seek to file a climate‑related shareholder resolution under Section 65 of the Companies Act. The...
Syensqo Earns Top Sustainability Honour for Battery Recovery Innovation
Syensqo, a Canadian cleantech firm, won the World Economic Forum’s Global Sustainable Innovation Award for its breakthrough battery‑recovery technology. The process extracts up to 95% of lithium, cobalt and nickel from end‑of‑life electric‑vehicle batteries, slashing material waste. A $30 million Series B...
Excalibur Metals Stakes 58 New Claims at Nevada’s Bellehelen Project
Excalibur Metals has staked 58 additional federal lode claims, adding 1,198 acres to its Bellehelen Silver‑Gold Project in Nevada’s Nye County. The new parcels extend the northwest Rangefront Target and the Stone Cabin Valley Pediment, zones highlighted by high‑resolution AVIRIS...
Uranium Spotlight: Four Companies Worth a Look – Part 2
Rising demand for nuclear power is driving renewed focus on uranium assets in Canada’s Athabasca Basin. Four junior explorers – IsoEnergy, Purepoint Uranium, Skyharbour Resources and Standard Uranium – are each advancing sizable drill campaigns, joint‑venture partnerships and land‑package expansions....
Soybean Net-Longs Triple Corn, Heightening Liquidation Risk
Following the Money, Soybeans Lead Risk vs. Reward Speculator net-longs in soybeans dwarf those in corn and wheat, indicating an epicenter for position liquidation risks in grains. The dollar value of hedge fund net-longs in soybean complex futures is about 3x...
Wheat Futures Hit 2‑Year High on Record Speculator Net‑Long
Bouncing Wheat, Long Specs and Reversion Risks The benchmark wheat future has risen to its highest price in about two years on the back of grain speculators being the most net-long in four years -- and it's the time of year...
Gold, Silver Rates Today Nosedive up to 5% as Crude Oil Price Soars After Escalation in the US-Iran War
Gold and silver prices plunged on May 4, 2026 as crude oil rallied over 5% following a reported missile exchange between Iran and a U.S. warship. COMEX gold slipped to about $4,535 an ounce, a 2.3% intraday loss, while silver...
Rio Tinto Greenlights $473M Zulti South Expansion
Rio Tinto approves $473mn RBM Zulti South expansion to extend zircon and ilmenite supply. https://www.metalnomist.com/2026/05/rbm-mineral-sands-expansion-extends-rio.html
Crude Spikes Rare; only 1973 Embargo Sustained Rise
Surges in Crude Typically Their Own Worst Enemy The only period in our database since 1861 that crude oil went up sharply and stayed up was during the first Arab oil embargo in 1973-74, when WTI jumped to about $10 a...
KSS Line Books Trio of VLGCs at HD Hyundai
South Korea’s KSS Line has placed a $342 million order for three 90,000 cu m very large gas carriers (VLGCs) with HD Hyundai Heavy Industries. The vessels, slated for delivery starting Q1 2029, are already covered by long‑term time charters – two to BGN...
Cenovus Calls Top Oil Sands Projects Barely Profitable
Cenovus has some of the best oil sands projects in Alberta. They're just telling Canadians that oil sands resources are marginally profitable at best, pennies per barrel from being uncompetitive. It's not a great idea when you're asking for...
Monument Bay
Remember what the koala said about 1,000ppm is 0.1%? This gold hits may be nice but from reading this and seeing W grades reported in ppm… Yea…maybe Monument Bay is just a gold deposit
Liberia: Mount Coffee At Risk? How Unchecked Mining Could Undermine a National Lifeline
Liberia’s artisanal mining sector has shifted from low‑impact hand tools to mechanized dredging, turning rivers into open‑pit extraction sites. The Integrity Watch Liberia report documents illegal use of Class C licenses, weak oversight, and tax evasion that leave communities with polluted...
Investing Boldly in Rare Earths Amid Price Slump
Lynas Rare Earths CEO Amanda Lacaze on Having the Guts to Invest During a Price Slump https://t.co/7u82aTVaHV
Wyloo Sells WA Rare Earth
Maybe he's going back to hydrogen and needs funding? Forrest’s Wyloo to offload stake in WA rare earths mine; BofA hired https://t.co/AjWqQBy7IH
Forrest Said to Sell Wyloo’s Yangibana Rare Earths Stake in Pivot to Nickel
Australian mining magnate Andrew Forrest is putting Wyloo Metals' 60% stake in the Yangibana rare‑earths project up for sale, with bids due by end‑May. The Western Australian deposit, which has already seen about $132 million (A$200 million) spent on infrastructure, still needs...
Corn and Crude Prices Slip Below Historic $4 Mark
Corn and Crude Emphasize Commodity Price Deflation Corn futures first traded at $4 a bushel in 1974, and the 2024-25 lows dipped below this threshold. Will 2026 be different? Full report on the Bloomberg here: https://t.co/8d2nZRKal3 {BI COMD} #corn #crudeoil #commodities @BBGIntelligence
Guyana Tells World Court Venezuela's Claim on Oil-Rich Esequibo Region Poses Existential Threat
Guyana has asked the International Court of Justice to rule that Venezuela’s claim to the oil‑rich Esequibo region is illegitimate. The dispute covers a 160,000‑square‑kilometre area, including offshore blocks where recent discoveries have attracted global investors. Guyana’s foreign minister warned...
Lithium 'Sacrifice Zones' Emerge as U.S. Rush Fuels Pollution, Child Labor Risks
Inside Climate News and Columbia Journalism Investigations have identified 540 proposed lithium mines worldwide, with a surge of U.S. projects creating pollution‑laden “sacrifice zones” near tribal lands. The report links rapid permitting, federal investment and corporate pressure to rising health...
K2 Gold Stakes New 21,887 Hectare District Scale Gold Project in Yukon Territory
K2 Gold Corporation announced the staking of the 21,887‑hectare Wolf Project in west‑central Yukon, consolidating a >10 km gold‑in‑soil geochemical anomaly previously fragmented among Teck, Ryan and Beringia. The project is split into Wolf South, which hosts high‑grade soil anomalies, and...
NextGeo’s Contract with Saipem Offshore Libya Increased by €4-6 Million
Italy’s Next Geosolutions (NextGeo) announced on May 4 that Saipem has expanded its offshore contract for the Bouri Gas Utilisation Project (BGUP) in Libya. The original €70 million ($75.6 million) agreement now includes an additional €4‑6 million ($4.3‑$6.5 million) for survey and installation support, and...
SSH Group to Acquire EMS in $2 Million Deal, Expanding Mining Services
Australian metals firm SSH Group Ltd signed a binding agreement to acquire Elphinstone Mechanical Services (EMS) for A$2.5‑3.0 million ($1.7‑$2.0 million). The cash‑and‑stock deal adds heavy‑mining services in Perth, Karratha and Mackay, and is expected to be earnings‑accretive, though SSH shares fell...
ADES Lands Nigeria Rig Deal Worth $93m
ADES Holding secured a two‑year contract with Seplat Energy for its jackup Shelf Drilling Victory in Nigeria, valued at about SAR 347.6 million ($92.7 million). The agreement includes two optional one‑year extensions and covers mobilisation, demobilisation and local‑partner fees. Operations will start in...
Why Alphamin Has Been Shooting the Lights Out
Alphamin is set to post a record‑quarter profit of roughly $158 million as tin prices, which have nearly doubled since early 2025, remain elevated around $48,000 per tonne. The South‑African‑listed miner produces about 5,000 tons per quarter and expects a generous dividend...
Consultancy Unpacks Why Gold Prices Are Trending Lower Despite High Demand
Gold prices have slipped toward $4,626 even as global demand hits record levels, a divergence that analyst Rania Gule attributes to rising U.S. real yields and a tight monetary stance. Higher rates boost the dollar and increase the cost of...
Inspiration Mining Initiates Drilling at Rottenstone North Project
Inspiration Mining has hired Flamingo Drilling to commence diamond drilling at its Rottenstone North gold‑copper project in northern Saskatchewan. The program targets volcanogenic massive sulphide (VMS) style deposits for copper, zinc, lead, silver and gold along the project's southeastern edge....
Launch of High-Grade Iron Ore VIU Indices for Silica, Alumina Content, Cfr Qingdao: Pricing Notice
Fastmarkets has launched two new high‑grade iron ore Value‑In‑Use (VIU) indices for silica and alumina content, priced cfr Qingdao. The indices, MB‑IRO‑0194 (silica) and MB‑IRO‑0195 (alumina), apply to cargoes with ≥65% Fe and silica 0.5‑8.5% or alumina 0.01‑1.5%, using regression...
Fast-Tracking Approvals Process Key to Unlocking Australia’s New Oil & Gas Projects
Australian Energy Producers praised Opposition Leader Angus Taylor’s pledge to fast‑track approvals for oil and gas projects, arguing that quicker permits are essential to avoid future gas shortfalls. The industry also welcomed the Coalition’s plan to reinstate the Junior Minerals...
Helium-3 Hunt Helps Develop Astronautic Excavation Tech
Vermeer has engineered the Interlune excavator to mine lunar helium‑3, a scarce isotope valued at $18‑$30 million per kilogram. The 9‑tonne Earth‑based prototype can ingest 100 metric tons of regolith per hour and will weigh just 1.5 tonnes on the Moon, using...
Rio Tinto Faces Massive WA Iron Ore Job Cuts
Sources say mass job cuts loom for Rio Tinto’s WA iron ore workforce as the new financial year approaches https://t.co/aE67yW2blE https://t.co/kg78C2km8o
Engineered Transfer Points Play Growing Role in Plant Performance Optimisation
Transfer points in mining material handling are evolving from static infrastructure to strategic flow‑control solutions. Poorly engineered chutes cause uneven belt loading, dust, spillage and accelerated wear, which translate into downtime and higher maintenance costs. By matching chute geometry to...
Irish Alumina Facility Feeds Putin’s War Machine and Endangers Ireland’s Environment
The Aughinish Alumina plant in Limerick, fully owned by Russia’s RUSAL, now ships more than half of its output to Russian aluminium smelters that feed the Moscow‑controlled Aluminum Sales Company. Leaked data show that aluminium from these smelters is used...
Quantum’s Next Frontier: How Mining Companies Can Prepare for a Computing Revolution
Quantum computing is transitioning from research labs to industrial use, and the mining sector is emerging as a prime beneficiary. The technology promises to reshape orebody discovery, optimize complex mine operations, and accelerate materials innovation while also introducing new cyber‑risk...
Gold Buying Prices in Zimbabwe per Gram/ Ounce, 4 May 2026
Fidelity Gold Refinery (FGR) published its May 4 2026 gold buying rates for Zimbabwean producers. The fire‑assay cash price tops the table at $138.70 per gram ($4,314 per ounce) for shipments over 100 g, while sample grades (5–10 g) receive $131.40 per gram. Tiered...
Gulf LNG Export Woes Push Gas Prices up but Diversification Becomes Europe’s Energy Lifeline
The Middle East conflict halted roughly 80 mtpa of Gulf LNG exports, creating a supply shock that could have driven European gas prices sky‑high. Instead, Europe’s diversified fuel mix—new 40 mtpa of LNG capacity, over‑60% renewable penetration in Spain, and expanding battery...
Equinor Extends Drilling Agreements for Norwegian Continental Shelf
Equinor has extended key supplier agreements on the Norwegian continental shelf worth roughly NOK 17 billion (about $1.8 billion). The contracts with Baker Hughes Norge, Halliburton and SLB Norge cover integrated drilling and well services valued at NOK 8.3 billion (~$0.88 billion) and specialist framework agreements...
SpectraFlow Supplying Online Analyser to Chinese Iron Ore Producer Conglin
SpectraFlow Analytics secured a contract to deliver its Crossbelt Online Analyser to Conglin Group’s Ziluyi North iron ore mine in Xinjiang, China. The NIR‑based system will monitor crushed ore every 420 ms, allowing real‑time blending adjustments and consistent product quality before...
Northern Star's Hemi Gets EPA Approval
Northern Star Resources received Environmental Protection Agency approval to advance its Hemi gold project in Western Australia’s Pilbara region. The mine, situated about 85 km from the port city of Port Hedland, cleared regulatory hurdles after Environment Minister Matthew Swinbourn...
MLG Oz Extends Its Stay at Newmont's Tanami Operation
MLG Oz has secured a five‑year contract extension with Newmont Corporation worth $200 million to continue providing mining‑services at the Tanami operation in Australia’s Northern Territory. The deal covers core activities such as drilling, blasting and bulk‑earthmoving, and adds clauses for...
Multiple Preventable Failures Led to Broken Hill Underground Mine Fire
A fire erupted underground at Perilya's Broken Hill mine after a heat‑generating chemical was injected into a timber‑lined void without proper safeguards. The blaze forced the evacuation of 46 workers, with five temporarily trapped below ground. Investigators identified multiple preventable...
Kyodo News Digest: May 4, 2026
Japan and Australia announced a deepened partnership to secure critical minerals and energy supplies, issuing five joint outcome documents amid China’s rare‑earth dominance and Middle‑East tensions. Denso Corp. disclosed plans to develop a road‑embedded, wireless charging system for moving electric...