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:
Mining the Metal of the Future
The United States currently operates only one lithium mine, yet six new projects are slated for completion by 2030 with another 13 in the pipeline, mainly across the dry Southwest. A new database from Columbia Journalism Investigations and Inside Climate News shows more than 100 claimed lithium sites, highlighting a rapid domestic expansion. Bipartisan policy—Biden’s energy‑independence agenda and Trump’s “Drill, Baby, Drill” rhetoric—is accelerating the boom, while raising concerns for Indigenous communities and fragile ecosystems.
Gold & Silver Mining Booms on Unprecedented Free Cash Flow
What the gold and silver Mining game is all about…free cash flow. Hasn’t been this good ever fundamentally? https://t.co/15t8fEa6bf
Japan's Crude Shortage Forces Rare Mexican Purchases
Japan needs Canadian crude oil, but can’t get it. Why? There’s no additional export capacity. That’s why Japan is making rare purchases of crude from Mexico.
Falcon Copper, Glencore MoU to Supply Up to 1.6 Mtpa Copper for U.S. Supply Chain
Falcon Copper Corp. and Glencore International AG have signed a memorandum of understanding under which Glencore will supply up to 1.6 million tonnes of copper concentrate per year to Falcon’s planned U.S. smelting and refining facilities. The non‑binding pact aims to...
NOAA Declares The Metals Company’s Deep‑Sea Mining Plan Fully Compliant, Shares Surge
The Metals Company (TMV) saw its shares jump after the U.S. National Oceanic and Atmospheric Administration declared its consolidated deep‑seabed mining application fully compliant. The ruling moves the Clarion‑Clipperton Zone project toward a final permit by early 2027, underscoring the...
Saudi Arabia Set For Oil Windfall After Hormuz Boosts Prices
The blockade of the Strait of Hormuz has split Gulf oil exporters, giving Saudi Arabia and Oman a revenue boost while the UAE sees a sharp decline. Saudi rerouted 4 million barrels daily to the Red Sea, lifting weekly oil revenue...
Russia’s Oil Revenues Surge as the World Scrambles for Supply
Asian buyers are snapping up discounted Russian crude as global supply tightens, driving a sharp rise in Moscow’s oil revenues. China imported a record over 100 million tonnes in 2024, while India’s imports doubled to about 2.25 million barrels per day in...
Inside BP’s Dramatic Pivot Back to Oil and Gas
BP’s new chief executive Meg O’Neill has dismantled the company’s sprawling structure, reinstating separate upstream and downstream divisions and abandoning its recent renewable‑energy push. In the first quarter of 2026, BP reported a before‑tax profit of $3.2 bn, more than double...
Kenya Leads African Push to Process Minerals Locally, Targeting $62 B Rare‑Earth Project
At the Kenya Mining Investment Conference, President William Ruto pledged to end exports of unprocessed mineral ore and to spearhead a regional effort to process, refine and manufacture minerals across Africa. The policy aims to capture more of the continent’s...
Pemex Faces a Reckoning After Major Oil Spill
Pemex’s February pipeline leak released about 800 tons of crude, creating a 370‑mile oil slick along Mexico’s Gulf coast and harming fishing and tourism. The spill contradicted earlier company denials, prompting the CEO to announce executive resignations and a safety‑protocol overhaul....
Utah Germanium Refining Boosts Semiconductor Material Demand
5N Plus sees strong demand for semiconductor materials as germanium refining expands in Utah. https://www.metalnomist.com/2026/05/5n-plus-semiconductor-materials-demand.html
Canada’s Diamond Industry Begins a Long Goodbye
Rio Tinto announced the closure of its Diavik diamond mine in Canada’s Northwest Territories, ending a two‑decade era of high‑grade natural‑diamond production in the region. The mine, which accounted for roughly 20% of Canada’s annual diamond output, generated about $150 million...
US Met Coal Isn't "Dead" – But The Indices Are
The author argues that US metallurgical coal isn’t a dead market, but the price indices—especially Platts—are. While Argus and McCloskey provide occasional assessments, Platts’ benchmark, which settles most contracts, publishes daily numbers based on infrequent, often weekly, market observations. This...
Southern Copper and Vale Report Negative Copper Costs as Gold and Silver Credits Surge
Southern Copper Corp. and Vale SA announced that copper production costs turned negative in the January‑March quarter, with Southern Copper reporting a cash cost of minus 11 cents per pound after by‑product credits. The shift reflects record gold and silver...
China’s Housing Price Collapse Threatens Australia’s Iron Ore Revenues, Forecasts $9 Bn Cut
China’s residential property prices have fallen 23% since their 2021 peak, prompting a sharp downgrade of Australian iron‑ore export earnings from about $76 bn to $71 bn USD. Analysts warn the slowdown could erode government tax revenue and reshape the long‑standing trade...
Wirth Warns Global Energy System Under 'Extreme Stress'
Chevron CEO Mike Wirth told CNBC that the ongoing U.S.–Israel conflict with Iran is pushing the global energy system to "extreme stress." He warned that a prolonged closure of the Strait of Hormuz—through which roughly 20% of the world’s oil...
Trump Sons Hold Stake in Kazakh Tungsten Venture Backed by $1.6bn in US Government Funds
Donald Trump Jr. and Eric Trump invested in Skyline Builders, which merged with Cove Kaz Capital to form Kaz Resources Inc., a venture developing Kazakhstan's massive undeveloped tungsten deposits. The project secured up to $1.6 bn in U.S. government financing from...
Mercuria, Heeney Lock $2.2 Bn of Venezuelan Gold and Metal Off‑takes
Mercuria Energy Group and Heeney Capital announced $2.2 billion of annual off‑take agreements for Venezuelan gold and bulk metals on May 1, 2026. The deals are tied to a White‑House‑supported initiative to restart Venezuela’s mining industry and secure supply chains for Western...
Kailix Advisors Invests $8.4 M in Peabody Energy, Expanding Coal Exposure
Kailix Advisors LLC disclosed a new $8.38 million stake in Peabody Energy, buying 239,800 shares that now represent about 7% of its $114.34 million assets under management. The move highlights a niche fund’s willingness to increase exposure to coal amid a broader...
Europe Wants Africa’s Minerals. Africa Should Make It Pay
Europe is intensifying its hunt for critical minerals across Africa to fuel its green and digital transitions, yet the EU’s partnership narrative clashes with a lagging delivery model. The Global Gateway initiative, earmarked at €30 bn ($33 bn) through 2027, has struggled...
How Oil Fuels Conflict and War—And Who Profits
An interview with peace scholar Michael Klare underscores how oil remains a central driver of wars, citing the U.S.-Israel conflict over Iran and the strategic choke point of the Strait of Hormuz, which handles roughly 20% of world oil and...
USGS Finds 2.3 Mt of Lithium in Appalachia, Enough for 130 Million EVs
The U.S. Geological Survey disclosed an estimated 2.3 million metric tons of lithium oxide in the Appalachian Mountains, a resource that could supply batteries for roughly 130 million electric vehicles. The find, described as a major contribution to U.S. mineral security, arrives...
Minerals Technology Posts 11% Revenue Rise to $547M in Q1 2026, Boosted by Specialty Minerals Demand
Minerals Technology (MTX) posted $547 million in first‑quarter 2026 revenue, up 11% year‑over‑year, as consumer and engineered‑solutions segments posted double‑digit growth. The company highlighted strong demand for specialty minerals used in mining, construction and environmental applications, while noting inflationary pressure from...
EPA Says Oil & Gas Operators Can Continue to Flare Past Long-Set Deadline
The U.S. Environmental Protection Agency issued new guidance that lets oil and gas operators keep routine flaring in operation beyond the May 7 deadline originally set for a phase‑out. Routine flaring releases methane—a greenhouse gas roughly 80 times more potent than...
MP Materials to Build $1.25B Texas Magnet Campus
MP Materials plans a $1.25bn Texas magnet campus to expand US rare earth magnet capacity. https://www.metalnomist.com/2026/05/mp-materials-magnet-campus-in-texas.html
Mining Output Surges Sevenfold, Defying Past Skepticism
A new era for the mining industry. Miners are generating roughly 7x what they did at the peak of the last cycle. I’m old enough to remember when this space was considered “uninvestable” by the so-called experts. Game on. https://t.co/ssIdeKrny6 https://t.co/7sVZbz3Dv6
Newcore Gold Files Technical Report for the Updated Mineral Resource Estimate for the Enchi Gold Project, Ghana
Newcore Gold Ltd. filed a NI 43‑101 technical report confirming an updated mineral resource estimate for its Enchi Gold Project in Ghana. The indicated resource now totals 83.6 million tonnes at 0.56 g/t Au, containing about 1.5 million ounces, while the inferred resource adds...
April RKEquity Scoreboard Highlights Lithium, Rare Earths
Check out latest #RockStockRecap, which includes a detailed run through #RKEquity April scoreboards for lithium, rare earths and minor metal equities. #GoLongWhereMemoriesAreShort 👇👇
Canada’s Diamond Industry Starts Its Long Farewell
Canada’s diamond industry begins a long goodbye via @FT Lovely, insightful read by @IlyaGridneff reporting from Rio Tinto’s Diavik mine in the Northwest Territories https://t.co/NvCvXDHNPo
Big Tech Is Funding Space Solar and Fusion While Running on Gas
Big Tech firms are simultaneously betting on futuristic clean‑energy projects while expanding their reliance on natural gas to power AI‑driven data centers. Meta signed a deal with Overview Energy to develop up to 1 GW of space‑based solar power, with a...
Iran's Oil Cuts Aren't Catastrophic, Past Cuts Proved It
The level of nonsense about Iran’s oil production in the media and social media is insane. Ok, they cut production. So What? They’ve cut production by over 50% before — fields stayed fine, system didn’t collapse. https://t.co/VG4B5bTmNy
China’s Mineral Grip Tests Integrated vs Shotgun Strategies
Strategic mineral. China controls. Iran war. Weapons fired. Is there an integrated approach to dealing with China. Or is it a shotgun?
Trump Pushes ‘Peace Pipelines’ to Boost Exports of Climate-Busting LNG to Europe
The Trump administration announced a series of “Peace Pipelines” agreements at the Three Seas Initiative summit, aiming to accelerate U.S. LNG exports to Central and Eastern Europe as a substitute for Russian gas. The Department of Energy says U.S. natural‑gas...
Yttrium Shortage Threatens Aircraft; US Seeks New Sources
Yttrium is obscure and only traded in the thousands of tons each year. But aircraft will fall out of the sky without it. China controls production and has exported very little to the US over the past year. That might...
IMPACT Silver Targets Reactivation of Plomosas, Boosts Zacualpan Production
@IMPACT_Silver's Fred Davidson talked to Mining Stock Daily about plans for its suspended Plomosas Mine and driving production at Zacualpan Mining Complex $IPT https://t.co/Csjk2G1TuN https://t.co/J4uPvvCvXT
U.S. Targets Iran–China Oil Pipeline in Dual Sanctions Move on Shipping and Finance
The United States announced a dual‑pronged sanctions package that hits a China‑based oil terminal, Qingdao Haiye Oil Terminal Co., for handling tens of millions of barrels of Iranian crude since early 2025, and three Iranian currency‑exchange houses that convert oil...
Project Vault Aims to Safeguard U.S. Manufacturing From Mineral Shocks
Remarks by Secretary of the Treasury Scott Bessent Before the EXIM Annual Conference The Project Vault strategic reserve will allow U.S. manufacturers to continue production even in the face of shocks to our supply of critical minerals. That will benefit...
Australia’s Green Iron Edge Threatened by Project Delays
“Let’s actually get projects up and running:” Report warns Australia’s green iron edge is at risk #energysky -- via Renew Economy: https://t.co/vlexiZGX0R https://t.co/zv2TAtDucn
U.S. and China Vie for Zambia’s $10 Billion Battery‑Metal Market
U.S.-backed KoBold Metals began construction on the $2.3 billion Mingomba copper mine while Chinese Cinfeng Investment Limited Group proposed a $40 million restart of the Munali nickel mine, highlighting a $10 billion scramble for Zambia’s battery‑metal assets.
Strait of Hormuz Closure Cuts 10M Barrels Daily
According to the World Bank’s NEW Commodity Markets Outlook report, the closure of the Strait of Hormuz wiped out around ~10 MILLION BARRELS/DAY of global oil supply. This is the LARGEST DISRUPTION ON RECORD https://t.co/ERT2BN8SaZ
Hormuz Closure Threatens Solar Aluminium Supply Chain
How the closure of the Strait of Hormuz affects solar aluminium sourcing #energysky -- via pv-tech: https://t.co/NvUU88jGsi
Ontario to Axe Early-Stage Red Tape, Lecce Says
Ontario will introduce a legislative package this fall to slash red tape for early‑stage mining projects, expanding the province’s One Project, One Process framework. The move aligns with a new minerals strategy that prioritises defence‑critical metals and supports Toronto’s bid...
Zambia Aided Chinese Miner in Pollution Cover‑up, Owes $6.6B
Zambia Helped Chinese Miner Cover Up Pollution Disaster, House Committee Finds—Zambia is relying on China to grow its copper-mining industry and owes Beijing $6.6 billion @Nicholasbariyo https://t.co/bWIwsk3urK https://t.co/bWIwsk3urK
DRC Copper Exports to US Set to Surge Amid Warnings of Corruption Risk
The Democratic Republic of the Congo plans to export 500,000 metric tons of copper to the United States, a five‑fold increase from its January commitment. The surge aligns with Washington’s push to diversify away from Chinese‑sourced copper, even as the...
CDE's New ModaLine Washing Plant Is Pre-Assembled for Quick On-Site Set-Up
CDE Group has unveiled the first unit of its new ModaLine, a containerised sand‑washing plant designed for plug‑and‑play deployment. The pre‑assembled system reduces on‑site construction time by more than 60% versus legacy models and ships in ISO‑standard containers. It delivers...
High‑risk Cat Strategic Metals Could Soar with Lithium/Uranium Boom
Cat Strategic Metals $CAT.CA $CATTF Very high risk spec (only for extremely patient & risk tolerant mofo's) but offers very high long-term upside if Lithium or Uranium sector moons. Chart by @edwardsibl91034 https://t.co/nXCbYRQ7Bz
Venezuela Signs Agreements with International Operators Under New Hydrocarbon Law
Venezuela has signed agreements with major oil majors—BP, Eni, Repsol, Chevron and Shell—under its reformed hydrocarbon law to boost exploration and production. The law permits minority partners to directly operate fields and sell output, a shift from PDVSA‑only control. BP’s...
Canagold Gold-Antimony Project Added to Priority List in B.C.
Canagold Resources' New Polaris gold‑antimony project has been added to British Columbia’s priority major projects list, part of the province’s Look West strategy aiming to attract up to C$200 billion (≈US$146 billion) of private investment by 2035. The project, located near the...
TMC Seabed Mining Application Meets US Federal Requirements
The Metals Co (TMC) received confirmation from the National Oceanic and Atmospheric Administration that its consolidated deep‑sea‑bed mineral exploration and commercial recovery application complies with the Deep Sea Bed Hard Mineral Resources Act. The agency said the filing meets all...
The Metals Company Anticipates US Mining Permit Within Year
Deep-sea mining firm The Metals Company expects to be permitted by U.S. officials within a year $TMC $TMRC https://t.co/CweqKG1g93