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:
Monday Briefing: Will a New Alliance of Nations Be Able to Guide the World Towards a Post-Fossil Fuel Future?
Oil prices surged to their highest level since Russia’s invasion of Ukraine after President Donald Trump warned of a prolonged Iranian port blockade, reigniting fears of a global recession. In response, nearly 60 governments convened in Santa Marta, Colombia, for the first‑ever conference dedicated to transitioning away from fossil fuels, committing to develop national roadmaps for a post‑fossil future. The summit also marked Canada’s debut as the first non‑European nation at a European Political Community meeting, underscoring expanding multilateral cooperation. Participants hope the alliance will reshape energy policy and curb the economic volatility tied to oil markets.
Nexus Taps MGMS for Mining at Wallbrook
Nexus Minerals has engaged Macro Gold Mining Services (MGMS) to design, finance and execute open‑pit mining at its Crusader‑Templar gold deposit in Western Australia’s Wallbrook region. MGMS, a joint venture between Macro Metals and Goldfields Technical Services, will handle the...
The Weekly Finger: Resource Wars and the Tungsten Trap
The upcoming RIU Sydney Resources Round‑up will zero in on two emerging bottlenecks—fuel security and a tightening global sulphur supply—while the Tungsten ’26 webinar highlights China’s 80% grip on tungsten and NATO’s surge in defence stockpiling. James warns that the...
BlueNord Reports Record Quarterly Production
BlueNord reported a record first‑quarter 2026 net hydrocarbon output of 43.1 mboepd, up from 42.2 mboepd in Q4 2025 and within its guidance range. Revenue climbed to $318 million and EBITDA to $201 million, while net operating cash flow fell to $141 million. The Tyra hub...
Southeast Asia Sees New Wave of Deepwater Gas Projects
Southeast Asia is launching a second wave of deep‑water gas projects targeting roughly 28 trillion cubic feet of resources in Indonesia, Malaysia and Brunei. Wood Mackenzie estimates more than US$20 billion of capital will be needed and many projects show internal rates...
Uganda: 28 Arrested in Kisoro Illegal Mining Crackdown, 25 Rwandan Nationals Among Suspects
Ugandan police in Kisoro District detained 28 individuals during an intelligence‑led raid on the government‑owned Kirwa Wolfram Mines, with 25 of those arrested identified as Rwandan nationals who entered the country illegally. The operation, conducted on 2 May 2026, recovered about 30 kilograms...
Carmeuse Selects Caterpillar's Autonomous Hauling Solution to Deploy at Drummond Island Operation
Caterpillar Inc. has signed an agreement with limestone producer Carmeuse to install its autonomous hauling system at the Drummond Island quarry in Michigan. The deployment will integrate Cat MineStar Command across Carmeuse’s fleet of 777 trucks, supported by Fabick CAT and complemented by...
Madagascar: Madagascar Revives Vara Mada Mining Project As Key Investment Awaits Approval
Madagascar’s dormant Base Toliara mine has been rebranded as the Vara Mada project and is poised for a $940 million investment led by U.S. firm Energy Fuels. The venture, focused on monazite—a rare‑earth mineral critical for electronics and clean‑energy tech—requires a formal investment...
Terrain Minerals Gears up for Multi-Project Exploration Push with $1.5m Raise
Terrain Minerals (ASX:TMX) announced a AUD1.5 million (≈US$1.0 million) placement, issuing 375 million shares at A$0.004 each. The capital will finance exploration and mining studies at its flagship Smokebush‑Lightning gold‑silver project in Western Australia, with a maiden resource estimate slated for July and...
Brent Holds Above $108 as US Clears StraitBrent Holds Above $108 as US Clears Strait
"Brent was little changed above $108 a barrel, after falling as much as 2.4% at the open, while West Texas Intermediate was near $102. Starting from Monday, the US move was meant to enable vessels that have been stranded by...
Sumitomo to Sell 54% of Madagascar’s Ambatovy Nickel Project, New Investors Loom
Sumitomo Corporation announced it will sell its 54% majority stake in the Ambatovy nickel‑cobalt operation in Madagascar before the fiscal year ending March 2027. The divestment will trigger a $445 million accounting charge and has already attracted a wave of new investors...
Peru’s Mining Exports Surge 59% to $13.8 Bn in Jan‑Feb 2026, Led by Gold and Copper
The National Society of Mining, Oil and Energy (SNMPE) reported that Peru’s mining exports climbed 59% to $13.831 bn in January‑February 2026, with gold and copper accounting for the bulk of the increase. The surge lifts mining to 74% of the...
Anson Stretches Green River Resource 650% to 773,000t LCE
Anson Resources announced a 650% increase in its Green River lithium resource, now totaling 773,000 tonnes of lithium carbonate equivalent (LCE). The indicated portion jumped 863% to 183,000 t LCE, while inferred resources rose 602% to 590,000 t LCE. The...
Tin-Tantalum-Niobium Resource Takes Energy Transition Metals Closer to Penouta Restart
Energy Transition Minerals (ASX:ETM) has released a JORC‑compliant mineral resource estimate for Spain’s Penouta mine, quantifying 108 Mt of ore containing 437 ppm tin, 80 ppm tantalum and 91 ppm niobium. The updated estimate replaces a 2021 non‑JORC figure and provides the technical basis...
Legacy Minerals’ Gold and Silver Bounty Delivers Robust Mt Carrington Scoping Study
Legacy Minerals released a scoping study for its Mt Carrington gold‑silver project in northeast NSW, projecting a 19‑year mine life with 373,000 oz of gold and 9.91 Moz of silver. In the base‑case scenario the development is expected to generate $1.27 bn of free...
Iron Ore Soars on the Wars
Iron ore futures are racing toward their highest level in two years, propelled primarily by geopolitical tensions rather than fundamentals. Despite a 6% drop in the China Iron and Steel Association (CISA) index and construction PMI forecasts that remain below...
DRC to Ship 500,000 T of Copper to U.S., Civil Society Flags Corruption Risks
The state‑owned miner Gécamines announced a plan to send 500,000 metric tons of copper to the United States – a five‑fold jump from the 100,000‑ton commitment made in January. Civil‑society leaders warn the surge could repeat past corruption patterns and...
Australia’s Coal Mines Haven’t Cut Methane Emissions, but Hidden Them with Offsets and Accounting Tricks
Ember’s latest analysis shows Australia’s coal‑mine methane (CMM) emissions fell to 22.1‑22.4 MtCO₂e in FY2025, a 3.5% drop that stems from mine shutdowns, accounting shifts and a surge in carbon‑offset purchases rather than genuine on‑site abatement. Underground‑mine closures and operational disruptions,...
Your iPhone Runs on Oil
The iPhone’s supply chain is deeply intertwined with petroleum at every stage, from diesel‑powered mining of copper, lithium and rare earths to the high‑heat smelting processes that turn ore into usable metal. Petrochemical feedstocks create the plastics, adhesives, solvents and...
War‑Driven Oil Shock Crushes Gold, Not Safe Haven
Gold sepatutnya “safe haven” sewaktu geopolitik. Tapi waktu Perang US-Iran harga Gold jatuh? Simple answer: inflationary pressure Perang = Oil shock → inflation fears → Interest rate “higher for longer” → stronger USD. [Gold compete dgn higher returns elsewhere ie Bond Yield] Short-term: Oil-Inflation-USD...
Understanding Brine Fundamentals with Murray Brooker & Clint Van
Episode 234 of the @globallithium podcast is online. The topic is brine fundamentals with #MurrayBrooker and @Clint_Van (Clint Van Marrewijk) https://t.co/P1Ly8Mcykw
Trump-Linked Tungsten Deal Highlights Processing Gap in US Supply Chain Push
Donald Trump Jr. and Eric Trump have backed a merger that would create Kaz Resources, a Nasdaq‑listed company aiming to develop Kazakhstan's Northern Katpar and Upper Kairakty tungsten deposits. The venture is supported by up to $1.6 billion of U.S. federal...
Iran War: Is the World Really Moving Back to Coal?
A new Ember analysis shared with Carbon Brief finds that 2026 will not see a significant return to coal, even as the Iran‑Ukraine war strains global gas supplies. While Japan, Pakistan and the Philippines are weighing modest coal increases to...
Big Oil Begins Return to Canada Amid Energy Crunch
Big Oil is returning to Canada as energy security concerns rise. Shell announced a $16.4 billion purchase of ARC Resources, adding about 370,000 boe per day and 2 billion barrels of reserves that will feed its 40 % stake in LNG Canada. Asset...
OAPEC: Distinct From OPEC, Driving Arab Energy Investment
"Far less important" convey the message that they are in the same area or redundant. OAPEC is not "far less important" or redundant with OPEC — they are distinct organizations. While OPEC focuses on crude oil markets and production quotas,...
Freda Rebecca Hits Record 240 Kg in March
Mutapa Gold Resources' Freda Rebecca mine produced a record 240 kilograms of gold in March, its highest monthly output. The mine contributes about 70% of the company’s total production, while overall 12‑month output fell 9.6% to 3,255 kg due to...
Nigeria’s Mining Reforms Attract $2 Bn Investment and Spur ₦68.1 Bn Revenue Surge
Minister Dele Alake announced that Nigeria’s revamped mining framework has already drawn more than $2 bn in processing and extraction projects and delivered ₦68.1 bn (about $148 m) in revenue for 2025. The reforms shift the sector from raw‑export to value‑added industrialisation under...
THE 1973 OIL EMBARGO PARALLEL & THE $20,000 GOLD BET: Why the End of the Strait of Hormuz Blockade Could...
The piece likens today’s Strait of Hormuz blockade to the 1973 oil embargo, noting that the 1973 equity crash unfolded months after the embargo lifted, while gold prices doubled. It argues that the eventual resolution of the blockade, combined with...
RoshAi Rolls Out Level‑4 Autonomous Trucks for Ports and Mines, Targets $6 M Revenue
RoshAi announced the commercial rollout of retrofit‑ready Level‑4 autonomous trucks for ports and mining operations, projecting operating revenue of ₹50 crore ($6 million) this fiscal year. The move addresses India’s acute driver shortage and expands high‑level autonomy beyond road‑way commuting.
From Research to Action: Critical Minerals in the Mid-Transition
The AFD Group, under the French G7 presidency, is convening a high‑level virtual conference on May 6, 2026 to address the growing uncertainties surrounding critical minerals that power the energy transition. Participants will include government officials, financiers, industry leaders, and researchers from...
Twin Metals' $380K Payments Fuel Mine Push Despite Opposition
Twin Metals Paid Former Trump Officials $380K. Their Controversial Mine Proposal Near the Boundary Waters Is Now Advancing Against Public Opinion https://www.outdoorlife.com/conservation/boundary-waters-mine-vote-breakdown/
Global Aluminium Market Shaken but Resilient Amid Middle East Conflict
The ongoing Strait of Hormuz conflict has disrupted the global aluminium market, cutting off roughly 7% of supply and damaging about 3% of worldwide production capacity. Prices have surged to near‑historic levels, averaging $3,400 per tonne and are expected to...
Japan Commits $10 Billion to Boost Vietnam Energy and Critical Mineral Partnership
Japanese Prime Minister Sanae Takaichi announced a $10 billion Power Asia Initiative to secure oil supplies and critical minerals for Vietnam, while pledging broader economic‑security cooperation. The move comes as Japan seeks to diversify away from China and Vietnam eyes stable...
DRC Mining Boom Masks Heavy Reliance on China and Copper
The Democratic Republic of Congo’s mining sector is projected to generate almost $40 billion in exports by 2025, but the boom is underpinned by a narrow trade profile. China absorbs roughly 62% of the country’s mineral shipments, while copper alone represents...
Capstone Copper Q1 2026 Slides: Record EBITDA Despite Strike Impact
Capstone Copper reported Q1 2026 results featuring a record adjusted EBITDA of $329.1 million, an 83% year‑over‑year increase, despite a 35‑day labor strike at its Mantoverde mine. Revenue of $652.5 million was slightly below consensus, while copper prices rose 10% quarter‑over‑quarter to $5.92...
Lynas Rare Earths CEO Amanda Lacaze on Having the Guts to Invest During a Price Slump
Lynas Rare Earths has locked in a $110 per kilogram price floor for its neodymium‑praseodymium alloy with the U.S. Department of Defense and secured a $258 million U.S. commitment for a heavy‑rare‑earth refinery in Texas. The company also signed a 10‑year...
DRC Govt Launches Crackdown on Mining Fraud and Illegal Mineral Exploitation
The Democratic Republic of the Congo, a key global supplier of cobalt and copper, announced a sweeping crackdown on mining fraud and illegal mineral exploitation. President Félix Tshisekedi ordered “coercive” measures after a high‑level cabinet meeting, targeting officials, police, and military...
Update with Golconda Gold (GG.V/GGGOF): Disciplined Gold Producer
Golconda Gold’s CEO Ravi Sood outlined a strategic turnaround that includes paying down its credit facility and unsecured note, thereby strengthening the balance sheet. Production at the Galaxy mine in South Africa is set to rise from roughly 10,000 ounces...
Aramco May Push OSP Release to June 7‑8
The V7, the group of 7 in OPEC+ will meet on June 7. Historically, they met earlier than the 5th of each month and Aramco issues its OSPs on the 5th. Reason? Two meetings are scheduled that day:...
High‑grade Uranium Deposit, but Not a Immediate Buy
IsoEnergy’s Hurricane deposit has world-class uranium grade, but that doesn’t mean it’s a buy now. The development timeline is long—first production likely late this decade or early next. High-grade ore won’t fix delayed cash flows or dilution risks. Uranium
What the US Could Learn About Mining on Indigenous Peoples’ Ancestral Lands
The United States still relies on a 19th‑century mining law that does not require federal consultation with Native American tribes before projects advance on ancestral lands, leaving many communities with little influence over the lithium boom. In contrast, New Zealand, Norway...
Codelco, Rio Tinto Ink Preliminary Deal for Chilean Mining
Codelco and Rio Tinto sign preliminary deal to seek joint mining investments in Chile. https://www.metalnomist.com/2026/05/codelco-rio-tinto-partnership-targets.html
Higher Lithium Recoveries Boost Shaaki NAV by ~5%
The TLDR here, 2-3% higher lithium recoveries across the Shaaki deposit is ~5% NAV uplift Now, this is from work done on the high grade zones like Nova and Vega which probably are prioritized earlier in the mine plan so NAV...
How We Tracked the Lithium Rush
Journalists from Columbia Journalism Investigations and Inside Climate News compiled a global database of roughly 1,200 lithium mining projects, drawing on S&P Global, government filings and proprietary sources. They linked each U.S. project to the CDC's Social Vulnerability Index and...
UAE Exits OPEC and OAPEC, Widening Gulf Rift
On top of leaving OPEC, the UAE has also left the (far less important) OAPEC, the Organization of Arab Petroleum Exporting Countries. The rift between Abu Dhabi and Riyadh/Kuwait City seems to be growing.
US Finds Massive Lithium Reserves, Still Needs Processing
China dominates the world's lithium supply. The U.S. just found 328 years' worth in its own backyard Yeah, lithium is not rare, like rare earths. But scaling processing is, and you need an actual battery industry also.... https://t.co/8lbDAr7lMZ
US Auto Industry Faces $5 B Supply‑Chain Shock
Supply chain hell for US auto firms. Detroit carmakers warn of $5bn commodities shock due to Iran war. Sector faces rising prices for supplies from aluminium to plastics and paint
Deep Dive Into Rio Silver's Pure-Play Potential
Don Durrett @DonDurrett & John Feneck Take a Closer Look at Rio Silver’s $RYO.V $RYOOF Pure-Play Silver Story (Check it out at 10 min mark, RYO CEO Chris Verrico) https://t.co/npJzYdwtYy
Majors Snap Up Cheap Tier‑1 Gold as Juniors Struggle
M&A wave hitting tier-1 gold deposits trading at dirt-cheap P/NAV due to junior financing woes. Majors are using strong cash flows/retained earnings to buy without dilution. Time to load junior miners $gdxj before banks flood the zone.
V7 Lifts OPEC+ Output Ceiling by 188,000 Bpd
OPEC+ group of 7, which I call now "V7," decided to increase production ceiling by 188 kb/d. Link: https://t.co/ENROe7PQye https://t.co/5nt5jnaFhJ