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:
U.S. to Buy Chinese Critical Minerals in First $12B Stockpile, Bloomberg Reports
The U.S. Export‑Import Bank announced that its $12 billion Project Vault will initially source critical minerals from China, marking a departure from a domestic‑first approach. Executives said the plan will later prioritize U.S. production, then allied nations, before turning to other sources.
Venezuela Oil Exports Hit 7-Year High as U.S., India, Europe Ramp Up Buying
Venezuela’s oil exports jumped 14% in April to 1.23 million barrels per day, the strongest monthly level since late 2018. The surge was driven by higher shipments to the United States, India and Europe after U.S. sanctions were eased and a...
Oil Rally Stalls as Iran Proposal Triggers Profit-Taking
Oil prices stalled below $110 per barrel after a week of extreme swings, with Brent’s June contract briefly touching $126. The slowdown was driven by Iran’s latest negotiation proposal, which sparked profit‑taking amid uncertainty over President Trump’s 60‑day war‑powers deadline....
Supply‑Side Risks Bolster Zinc Prices Amid Trade Volatility, BMI Raises Forecast to $2,950/Tonne
Research firm BMI, a unit of Fitch Solutions, lifted its 2026 zinc price forecast to $2,950 per tonne, up from $2,780, citing persistent supply‑side risks. The revision comes as zinc consumption growth slows to 1.9% and trade remains erratic after...
Blue in the Face Saying Leave Oak Flat Alone: Arizona, USA
A US appeals court dismissed an injunction, allowing the federal government to transfer the Oak Flat sacred site in Arizona to Resolution Copper, a joint venture of Rio Tinto and BHP. The company plans an underground block‑cave copper mine that...
Blue in the Face Demanding Compliance: Oyu Tolgoi, Mongolia
Oyu Tolgoi’s tailings storage facility has been leaking water because the mine has been discharging tailings with 42‑45% water content, far above the 38% limit required for 64‑65% solids. The leak was formally acknowledged in 2021 and classified as an...
Riot Platforms Posts $167M Revenue but $500M Loss as Bitcoin Mining Scales Up
Riot Platforms posted $167 million in Q1 2026 revenue but a $500 million GAAP loss, driven by non‑cash Bitcoin mark‑to‑market losses. The miner expanded its hash rate to 42.5 exahash, mined 1,473 BTC and secured a 25 MW AMD data‑center lease, yet its shares...
EQ Resources Aborts $X Billion Tungsten Metals Group Takeover, Cites Strategic Fit
EQ Resources Limited announced it will not proceed with the proposed 100% acquisition of Tungsten Metals Group Limited, saying a strategic review concluded the transaction was not in shareholders' best interests. The decision redirects the company's focus to expanding output...
The Hydrogen Stream: AfDB Backs Projects, Europe Logs 265 Offers
The African Development Bank’s Sustainable Energy Fund for Africa has opened a Green Hydrogen Programme, offering up to $20 million in pre‑investment grants to private developers across the continent. Meanwhile, the European Commission’s Hydrogen Mechanism recorded 265 supply‑side opportunities, with 87 %...
Deep Sea Minerals’ James Deckelman on the Next Critical Minerals Frontier
Deep Sea Minerals Corp. is advancing into seabed mining of polymetallic nodules, focusing on the Clarion‑Clipperton Zone and the Cook Islands. CEO James Deckelman says rising demand for critical minerals, falling terrestrial ore grades and a new U.S.–Cook Islands strategic...
How to Avoid Supply Chain Issues as Drone and Robot Production Increases Exponentially
Researchers in Chem Circularity project that commercial drone output could grow tenfold and humanoid robot production could surge up to 100 times by the late 2030s. Their analysis of 18 critical raw materials shows most will remain manageable, but rare‑earth neodymium‑praseodymium...
Oil Prices Up 11% for the Week
Oil markets saw Brent crude dip 0.5% to $109.88 a barrel on May 1, yet the benchmark remains up about 11% for the week as geopolitical worries linger over a prolonged Strait of Hormuz closure. The price pressure keeps U.S. gasoline...
Middle East Fertiliser Crisis Likely to Hit Smaller Bulk Carriers
Yara International’s CEO warned that soaring fertilizer prices and a Gulf shipping bottleneck could trigger a global auction, hitting the poorest nations hardest. Around 300 bulk carriers, primarily 20,000‑65,000 dwt handy‑class vessels, are stranded in the Gulf, holding 1.9 million tonnes of...
Coal India’s Production for April Falls 9.7%, Offtake Declines 2%
Coal India’s April coal output dropped 9.7% year‑on‑year to 56.1 million tonnes, while off‑take slipped 2% to 63.2 mt. Five of its seven subsidiaries recorded production declines, with Bharat Coking Coal plunging 41.3%. Pithead stock rose to roughly 125 mt, tightening mine logistics....
Canadian Mint to Disclose Sourcing Data After Report on Cartel Gold Ties
The Royal Canadian Mint announced it will begin publishing country‑of‑origin data for the gold it refines after a New York Times report linked a Texas supplier’s material to the Colombian Clan del Golfo cartel. About 5% of the Mint’s raw gold last year...
Kerem Usenmez on Volta Metals’ Rare Earth Scale and the High-Grade Gallium that Sets It Apart
Volta Metals has rapidly advanced its Sudbury‑area rare‑earth project, moving from acquisition to two drill programs, an updated resource model, and ongoing metallurgical work within a year. The deposit is now classified as the seventh‑largest rare‑earth resource in North America...
New Earth Expands Lucky Boy Project with 268 Acres in Arizona
New Earth Resources received state approval to lease an additional 268 acres adjacent to its Lucky Boy uranium project in Gila County, Arizona, almost doubling its land holdings in the area. The expanded footprint now totals roughly 541 acres, encompassing...
Kenyan Court Allows Landmark BP Toxic Waste Lawsuit to Proceed
Kenya's Environment and Land Court in Isiolo has cleared a procedural hurdle, allowing a class‑action lawsuit against British Petroleum to move to a full hearing. The case, filed by 299 residents of Kargi and Kalacha, alleges that oil‑exploration waste dumped...
China Tightens Screws on Rare Earth Production
China’s Ministry of Industry and Information Technology announced draft regulations that would impose strict production quotas and licensing requirements on rare‑earth miners. The measures target over‑production that has depressed global prices and aim to stabilize the market ahead of President...
Oil & Gas Firms Step up Exploration Game to Tackle Supply Shortfall by 2050
Global exploration and production firms face an estimated 40% output decline and a 300‑billion‑barrel supply gap by 2050. Wood Mackenzie reports that the 30 largest E&P companies are boosting ultra‑deepwater frontier exploration to offset the shortfall. The sector generated $120 billion...
Western Star Resources Submits Application in Response to Solicitation From the U.S. Défense Industrial Base Consortium; Engages Plutus Invest &...
Western Star Resources submitted an application to the U.S. Defense Industrial Base Consortium to become a reliable supplier of critical tungsten for defense applications. The company also engaged Germany‑based Plutus Invest & Consulting for a twelve‑month investor‑relations campaign, paying a...
Ignore OPEC+ Rumors; Follow UAE’s Clear Official Stance
💠The sheer volume of nonsense being published about the UAE’s exit from OPEC+ and its supposed impact on the oil market is astounding. 💠The UAE’s official statements are crystal clear. Stick to them and pay close attention to the details. 💠Want to...
Recently Established Green Methanol Collaboration Broadens Its Scope
Venture Energy Limited, a Hong Kong clean‑fuel trader, has broadened its newly‑formed partnership with Shanghai Shenji Energy & Environmental Technology. The expanded agreement moves beyond spot‑trade purchases of ISCC‑EU‑certified green methanol to medium‑ and long‑term offtake, pilot bunkering, a dedicated trading...
Triple‑digit Ppm Copper Claims Aren
10,000 ppm is 1% 1,000 ppm is 0.1% If you are quoting copper in triple digit ppm terms to flag a technical discovery fair play spin effort but from an economic perspective, sorry NGMI Hats off to the Sabet brothers for giving it...
Chevron Leverages Permian for Immediate Cash Flow, Future Gas Growth
Chevron CEO Mike Wirth on the Permian: "... we're running the Permian to deliver strong free cash flow right now. We could we could hit the gas and begin to grow it again..."
FEATURE ARTICLE: Water Management
Mining companies face mounting pressure to cut water consumption and increase reuse. EnviroSys 9.4, Acquire’s environmental data management platform, is being deployed to give miners a unified view of water‑related data, enabling faster identification of leaks, better reporting, and proactive compliance....
Rio Silver's Next Surge Starts Quiet, Then Explosive
Rio Silver Corp $RYO.V $RYOOF. And so the next leg up begins ... first in a quiet, orderly fashion. Then violently. Buy now or chase later. https://t.co/vlizJPy3fn
Exxon Sees Endless Permian Growth, Defies Plateau Predictions
Exxon CEO Darren Woods on the Permian: "... We've had the pedal to the metal here from the very beginning [...] Unlike many of our competitors, who I think have predicted the plateauing of of the resource [....], we have...
Liberia: As Environmental Protection Agency to Release Report On Latest Fish Die Off Near Bea Mountain Mine Expert Warns of...
The Liberian EPA will issue a report this weekend on a second fish‑kill event near the Bea Mountain gold‑mine, again tracing contamination to the concession. Unlike the 2022 cyanide spill, the 2024 incident involves cypermethrin, a pesticide not used in mining,...
Makenita Secures 23,500‑Acre Iron‑Magnetite Site for Hydrogen
Makenita Resources $KENY.CA $KENYF Acquires the 23,517 Acre "Serpentinization Iron-Magnetite Project" in Saskatchewan 😉 "Massive new HYDROGEN project bordering Max Power Corp" https://t.co/MB0Nlk9k8f
Big‑law Mining Firms Scramble for Scarce Mineral‑law Talent
Big Law mining practices are straining to keep up with the surge of US critical minerals projects, as lawyers with specialized skills for the work are in short supply. https://t.co/kgtyuQXyRn
Antimony Scarcity Threatens Supply Chains as Demand Soars for Flame‑Retardants and Batteries
Analysts warn that surging demand for antimony in flame‑retardants and next‑generation batteries could trigger a resource conflict, as the metal’s reserves are concentrated in a handful of countries. At the same time, new financing models such as tokenized mining assets...
China's Q1 Gold Demand Hits Record 362 Tons
China's gold demand in Q1 just hit a RECORD HIGH of 362 tons. BUY GOLD, WEAR DIAMONDS. https://t.co/i4imHfn9jj
Chevron Beats Q1 Estimates Amid Higher Prices, Strong Refining
BIG OIL 1Q EARNINGS: In line with its peers, Chevron reports stronger-than-expected earnings, with higher prices offseting some output losses (in part due to shutdown in the neutral zone between Kuwait and Saudi Arabia). Interesting to note very strong refinery...
Ocean Minerals Are Becoming a Real US Opportunity
Congressional hearings this spring elevated deep‑sea mining from theory to priority, highlighting offshore minerals as essential for U.S. national security and advanced manufacturing. The Trump‑era Project Vault earmarks $10 billion to create a demand‑driven strategic reserve covering all 60 critical minerals....
Liberia: EPA Shuts Down Illegal Gold Mine in Gbarpolu
The Liberian Environmental Protection Agency (EPA) has ordered the shutdown of Nugget Era Mining Company's large‑scale gold operation in Gbelee Town, Gbarpolu County, after discovering the firm was mining across 32 claims without a valid environmental permit. Inspectors found the...
Americas Gold Drills 1.9 Metres of 1,392 G/T Silver at Galena Mine, Idaho
Americas Gold and Silver Corp. announced six new high‑grade silver‑copper‑antimony veins at the 43L‑TJ complex in Idaho’s Galena mine, discovered during Q1 2026 drilling. The standout intercepts include 1.9 m at 1,392 g/t silver and 0.5 m at 3,714 g/t silver, all within 25 m...
Deep-Earth Map Reveals a Lost U.S. Continent
The 20‑million‑dollar Magnetotelluric (MT) Array has released its final 3‑D conductivity map of the United States, revealing a massive, previously hidden crustal slab dubbed the Piedmont Resistor that stretches from Maine to Georgia. The slab, formed by volcanic activity during...
SETM: The Critical Materials Trade Has Already Re-Rated, And Most Advisors Still Aren't Looking
The SETM fund has surged roughly 135% over the past twelve months, driven by exposure to uranium, copper, lithium, rare‑earths and silver miners and refiners. The rally coincides with heightened geopolitical tension, including China’s expanded rare‑earth export controls and the...
Silver Sands to Acquire Fairfield Gold Project in Mexico
Silver Sands Resources has signed a definitive agreement to acquire 100% of the Fairfield Gold Project in Nayarit, Mexico, for a cash payment of roughly $675,000 and the issuance of 5.15 million common shares over four years. The deal also includes...
US Munitions Depend on China’s Rare‑earth Magnet Supply
My take @FortuneMagazine on China’s control over the replacement of US depleted weapons stockpile: "Replenishing these [US] munitions requires 5-10 metric tons of finished defense-grade rare earth magnets, more than 95% of which must come from China." https://t.co/M437EG5SfV
Inexpensive Seafloor-Hopping Submersibles Could Stoke Deep-Sea Science—And Mining
The NOAA research vessel Rainier is deploying two neon‑lit Orpheus Ocean submersibles to map over 8,000 sq nm of Pacific seafloor at depths up to 6,000 m. Orpheus’s AUVs cost roughly $200,000 each—far cheaper than the $5‑10 million legacy vehicles—and can hop onto the mud,...
Zimbabwe: Soldiers Help Chinese Gold Miners Invade Chimanimani As Conflict With Mozambicans Beckons
Chinese nationals have launched large‑scale illegal riverbed gold mining in Zimbabwe’s Chimanimani district, allegedly with the support of the Zimbabwe National Army and local chief Peter Ngorima. The operation has fenced off about 500 hectares, endangering the livelihoods of roughly...
Heidelberg Materials Makes Autonomy Moves
German building‑materials giant Heidelberg Materials has signed deals with California‑based Applied Intuition and AI‑driven platform Pronto to deploy autonomous haulage systems (AHS) at its quarry in Australia, with a roadmap to expand across North America. The collaboration combines Applied Intuition’s...
Coal India's Production in April Drops Amid Rising Power Demand
Coal India reported a 9.7% drop in April output, producing 56.1 million tonnes, while its offtake fell 2% to 63.2 MT. The decline comes as India’s power grid hit a record‑high peak demand of roughly 256 GW due to an intense heat wave....
Cementation Canada Underground Ore and Waste Handling System Contract Award for Alamos Gold’s Island
Cementation Canada has been awarded the underground ore and waste handling system construction contract for Alamos Gold’s Island Gold Mine in Dubreuilville, Ontario. The system will process up to 3,000 tonnes per day of ore and 2,500 tonnes per day...
Outcrop Silver & Gold Confirms Continuity of High-Grade Silver at Guadal Target, Santa Ana Project, Colombia
Outcrop Silver & Gold Corp. released new drill results from the Guadual target at its 100% owned Santa Ana silver project in Colombia. Holes DH567, DH593 and DH587 returned high‑grade silver‑equivalent intercepts, confirming the continuity of the principal mineralized structure...
Pan Mine Boosts Cash Flow, Guides Strong Gold Production
Pan mine generating cash flow. Q1 2026 gold sales lifted unrestricted cash to $46 mil. 2026 guidance: 32-38koz Au at AISC US$1,850-2,000/oz. Pan cash flow to largely fund low-capex growth Stronger company FCF expected to ramp in 2027+ $maiff @MineraAlamos #goldproducer https://t.co/hCMCByPZir
NTPC’s Pakri Barwadih Surpass 100 MT Coal Production
NTPC’s Pakri Barwadih coal mine has crossed the 100 million‑tonne (MT) production milestone, just three years after reaching 50 MT in 2023. The project, commercial since April 2019, dispatched its 20,000th rail rake in December 2024 and now benefits from Asia’s longest closed‑loop conveyor to...
Independence Gold Drills 2,500 Metres to Date at 3Ts Project, British Columbia
Independence Gold Corp. is advancing its 2026 drill campaign at the 3Ts gold‑silver project in central British Columbia, having completed roughly 2,500 metres of core across 16 holes. The program, which began in late March, targets both historic veins and...