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:
The Commodities Feed: Oil Moves Higher Amid US-Iran Stalemate
Oil prices surged as US‑Iran peace talks stalled, pushing ICE Brent up about 2% after a 17% weekly gain. Washington intensified sanctions, seizing an Iranian‑linked tanker and targeting a Chinese refinery and roughly 40 shipping firms. The tightening market leaves a roughly 13 million barrel‑per‑day supply gap, forcing reliance on commercial and strategic reserves. Meanwhile, aluminium spreads tightened sharply, and copper inventories continued to decline, reflecting broader commodity stress from Gulf tensions.
Brazil, India Boost Critical Minerals Partnership for Supply Resilience
Brazil and India deepen critical minerals and rare earths cooperation to build resilient supply chains. https://www.metalnomist.com/2026/04/brazil-india-critical-minerals-deal.html
Canada Moves Closer to Building 107‑km Road to Unlock Ring of Fire Minerals
The Impact Assessment Agency of Canada has opened a public review of the 107‑km Webequie Supply Road, a year‑round highway that could unlock the Ring of Fire’s nickel‑copper‑cobalt deposits. Indigenous groups and the public have until May 22, 2026 to comment, as...
BHP’s China Deal Introduces Portside Index to Iron Ore Pricing, Pressuring Rivals
BHP Group sealed a supply agreement with state‑backed China Mineral Resources Group that embeds China’s COREX 61% portside index into its iron‑ore pricing formula. The move, seen as a “paradigm shift,” could force Rio Tinto, Vale and Fortescue to adopt...
Critical Minerals Report (04.26.2026): CATL Commits $4.4B, U.S. Stockpile Stalls & Canada Eyes Europe in Supply Chain Shift
China's CATL announced a $4.4 billion investment to expand its mining arm, outpacing recent U.S. government spending on critical minerals. In the United States, a proposed national mineral stockpile remains unfunded, highlighting a gap between policy intent and execution. Canada is...
Europe Emerges As Key Buyer Of U.S. Strategic Petroleum Reserve Oil
The U.S. Department of Energy has released roughly 80 million barrels from the Strategic Petroleum Reserve, with Europe emerging as the primary buyer. European refiners, led by the UK’s Vortexa, have taken about 50 million barrels at a $5‑per‑barrel discount to Brent,...
Structural Gas Demand Destruction Threatens Global LNG Market
The ongoing Middle East conflict is sharply curtailing LNG imports in Asia, with April volumes falling to 19.03 million tonnes, the lowest in six years. U.S. LNG is stepping in to replace Qatari shipments, while African producers remain under‑utilized, leaving a...
Mimosa Output Falls as Power Cuts and Lateral Expansion Pressure Platinum Production
Mimosa Mining, a joint venture of Impala Platinum and Sibanye‑Stillwater, reported a 1% drop in quarterly milled volume to 688,000 tonnes, driven by intermittent power outages and increasingly complex lateral ore zones. The 6E head grade slipped 2% to 3.55 g/t, and...
Zimbabwe Moves to Cut Fertiliser Costs by 40% with $1 Billion Coal Projects
Zimbabwe’s finance minister announced fast‑tracking three coal‑to‑fertiliser projects valued at over $1 billion to counter a 30‑40% surge in fertilizer prices. The $500 million Norton plant, led by Chinese partners, will produce more than 300,000 tonnes of urea annually. Palm River’s $200 million integrated...
The Silver Boom May Have Paused, but Fundamentals Could Propel It to New Heights
Investigator Silver’s managing director Lachlan Wallace says the silver market remains fundamentally strong despite a price pullback from the January $120/oz peak. Demand is rising from electrification, solar and electronics, while supply stays inelastic because roughly 75% of silver is...
Chile's Sulphuric Acid Shortage Threatens 20% of Copper Output
Chile's copper sector faces a tightening sulphuric acid supply, jeopardising the solvent extraction‑electrowinning process that delivers roughly one‑fifth of national output. The shortage, driven by import dependence and shipping disruptions, forces miners to seek new sources and invest in recycling...
Erik Wetterling – Key Reflections On Agnico Eagle Acquisition Of Rupert Resources & Aurion Resources
Agnico Eagle Mines Limited announced the acquisition of Rupert Resources Ltd and Aurion Resources Ltd, consolidating their gold projects in Finland’s Central Lapland Greenstone Belt. The deal brings together multiple exploration and development assets, expanding Agnico’s footprint in a region...
Blackrock Silver: High-Grade Nevada Project Moving Toward Development
Blackrock Silver Corp (TSX‑V:BRC) announced that its high‑grade Nevada silver project is advancing from exploration to development. Recent drilling confirmed average grades of roughly 500 g/t silver, supporting an indicated resource of more than 10 million ounces. The company has completed the...
Rick Rule on M&A Synergies, Agnico’s Strategy, Lithium Risks, and Uranium’s Energy-Security Tailwind
Rick Rule evaluates recent mining M&A, praising G Mining’s $1 billion, ten‑year synergy estimate from its G2 Goldfields acquisition as uniquely accretive. He also commends Agnico Eagle’s Finnish consolidation for leveraging existing infrastructure and adhering to a disciplined per‑share accretion framework,...
Golden Goose Identifies 23.6 Km of Vein Structures at Gran Esperanza Gold Project, Argentina – Richard Mills
Golden Goose Resources completed Phase 1 geological mapping and channel sampling at its Gran Esperanza gold project in Argentina’s Negro province. The program mapped roughly 23.6 km of mineralized vein structures and collected 341 channel samples from 265 perpendicular channels, plus 12...
Canada Just Opened North America's First Battery-Grade Lithium Refinery
Mangrove Lithium opened North America’s first commercial electrochemical lithium refinery in Delta, British Columbia, with a 1,000‑tonne annual capacity of battery‑grade lithium—enough for roughly 25,000 electric vehicles. The plant is a direct response to China’s control of about half the...
Iluka Cuts Output to Accelerate $660 M Eneabba Rare‑Earth Refinery Build‑out
Iluka Resources reduced zircon, rutile and synthetic rutile production and idled its Cataby plant, redirecting capital to the Eneabba rare‑earth refinery, now 99% engineered and $660 million invested, with a 2027 operational target.
2026 Energy Surge Likely
Just a Short Cleansing Range Trade in Energy Prices? The enduring lesson of weak underlying-commodity price performance vs. producer equities is playing out in 2026. The question is whether it's a normal rotation lower or start of sustained higher prices. My...
Scientists in China Create a Predator-Like Material to Hunt for Uranium in the Ocean
An international team at China’s CAS Qinghai Institute of Salt Lakes has created a light‑powered metal‑organic framework micromotor that swims through water and selectively captures uranium ions. The 2‑micron particles propel themselves using hydrogen peroxide and double their speed under...
Lithium Mining in Chile Faces Growing Environmental and Social Scrutiny as EV Demand Soars
Thea Riofrancos, author of “Extraction: The Frontiers of Green Capitalism,” warns that lithium mining in Chile’s Salar de Atacama—responsible for about one‑fifth of global supply—is depleting scarce water, threatening flamingos and disrupting Indigenous agriculture. The concerns come as electric‑vehicle sales...
Cameco's Uranium Surge Gains Traction as Oil Prices Spike on Middle East Conflict
Cameco's shares have surged more than 200% over the past year as soaring oil prices from the Middle‑East conflict spotlight nuclear power as a clean‑energy alternative. The uranium producer’s recent 50% stake in Westinghouse and rising uranium prices have boosted...
The $11 Trillion Engine Beneath the $110 Trillion Economy
The article argues that the $110 trillion global economy rests on a far smaller $11 trillion physical foundation of energy, raw materials, and chemicals. It breaks down this base into hydrocarbons ($1.6‑2 trillion), chemicals ($6.5‑6.8 trillion), metals ($1.2‑1.3 trillion) and food commodities ($1.7‑2.2 trillion). Chemicals, at...
Navajo Protesters Rally Against Kayenta Hydropower Project and Coal Mine Expansion
On April 21, Navajo community members gathered outside the Navajo Nation Council Chamber to demand a halt to the Kayenta pumped‑storage hydropower project and a proposed coal mine expansion. Protesters argue the projects will drain the Coconino aquifer, deliver electricity...
Zijin Mining Advances Strategic Logistics Corridor for Manono Lithium Project
China's Zijin Mining is close to completing a dedicated Lake Tanganyika cargo fleet to export lithium from its Manono project in the DRC. Four 70‑meter vessels, each capable of carrying 2,000 tons, are slated for service by July 2026, linking...
Sovereign Wealth Funds Are Africa’s Most Quiet Revolution
At the 39th African Union summit, leaders pledged to build a New African Financial Architecture that would channel mineral wealth into sovereign wealth funds. Africa controls roughly 30% of the world’s known critical mineral reserves, yet extraction profits, processing, and...
Gold Rush Mining Left West Africa’s Guinea Scarred
The term "Guinea" historically referred to the entire coastal region of West Africa, which was a major source of gold for the British Empire, particularly for minting Guinea coins. Early placer mining stripped topsoil and caused massive erosion in these...
Global Trends Shaping Metals, Mining, and Markets
Always a pleasure speaking with @DavidVGreely on the @SmarterMarkets podcast, while we were at the FT Commodities Conference in Lausanne, Switzerland. The podcast is 45 mins long and is everything you need to know about the current state of the...
3 Overlooked Nuclear Fuel Supply Chain Winners
The IAEA now expects global nuclear‑power capacity to more than double by 2050, reviving investor interest in the sector’s supply chain. Centrus Energy secured a $900 million DOE HALEU contract, giving it a near‑monopoly on high‑assay low‑enriched uranium. Uranium Energy’s low‑cost...
CIL Plans 10-Year Roadmap to Slash 243 MT Coal Imports
State‑owned Coal India Ltd (CIL) unveiled a ten‑year roadmap (2026‑2036) aimed at eliminating the 243 million tonnes of coal imports it currently relies on. The plan hinges on boosting domestic output to 1 billion tonnes by FY 2028‑29, upgrading coal quality through beneficiation,...
Yilan Village Chief Recalled over Mining Project in Indigenous Territory
A recall vote against Lunpi Village chief Wu Ping‑tsung in Yilan County’s Datong Township was approved on April 26, 2026. Of the 338 votes cast, 214 supported the recall, surpassing the 35.31% threshold of the 606 eligible voters. The move...
China Eyes Power of Siberia 2 Amid US Hormuz Threat
🔥🔥🔥Here, form September 11, 2025: "If you look at it from a Chinese point of view, it's not Iran who is going to close the Hormuz Strait. It's the US who is going to close Hormuz Strait, and therefore they...
Commodity Supercycle Ahead: Stay Long on Lithium, Vanadium
My take on @PalisadesRadio on why you should stay LONG commodities: "We're entering a commodity supercycle. You want to be long everything. I like lithium and vanadium.” Get long or stay long. https://t.co/bn7bzYntkj
Shanghai Composite Falls 0.58% as Energy Metals and Lithium Rally Amid A‑Share Slump
China's A‑share market slipped in midday trade on April 24, with the Shanghai Composite down 0.58% to 4,069.37 points. Energy‑metal, lithium and semiconductor concepts posted gains, while the broader market saw the Shenzhen and ChiNext indices fall over 1% and...
Aluminum Market Hits Point of No Return, 2M‑Ton Deficit
With around 9% of global supply tied to the Gulf, JPMorgan warns the aluminum market is entering a “point of no return". A 2-million-ton world deficit is forming. COMMODITY MARKETS = ENTERING A SUPER CYCLE. https://t.co/WOePJGzW7p
Japan's TV Hails Lone US Tanker, Exposing Asia's Oil Shortage
You know Asia is truly short of crude oil when Japanese television covers the arrival of a single oil tanker from America as a major news story https://t.co/vrsPhH1OOy
EU and US Sign Critical Minerals Partnership to Cut China Dependence
The European Union and the United States signed a memorandum of understanding and a joint Action Plan on April 24‑25, 2026, creating a strategic partnership to secure critical minerals. The pact covers the entire value chain—from exploration to recycling—and aims...
U.S. Diesel Exports Surge to Record High in April
🔥After jet fuel exports reached a record high in March, U.S. diesel exports are now hitting a record high in April.
Newmont Surge Signals Bullish Mining Earnings Wave
Newmont Corp $NEM. +9%. Bullish implications for the mining sector- just as miners begin reporting record earnings. Sorry to the many weak hands who've thrown in the towel, but the market will fully test your patience and then...
Nickel Futures Near $19,200/Tonne as Supply Tightens and Costs Rise
Nickel futures rose to $19,125 per tonne on April 24, 2026, marking a near three‑month high. The rally reflects tighter global supply, a new Indonesian nickel ore pricing framework, and the International Nickel Study Group’s forecast of a 2026 deficit....
Deepvein Mining Tech Wins NY Product Design Gold, Cutting Exploration Time to One Week
Deepvein Mining Tech secured Gold at the 2026 NY Product Design Awards for its Intelligent Geological Mapping and Geochemical Sampling Quadrupedal Robots. The system reduces exploration cycles from roughly 12 months to a single week and trims workflow costs by...
Opinion: Can Kyrgyzstan’s Mining Reset Work?
Kyrgyzstan is launching a mining "reset" to lure Western investors back after the contentious nationalisation of the Kumtor gold mine. The plan focuses on small‑to‑medium critical‑mineral projects, offering minority stakes and a 30% free‑carried interest while emphasizing ESG standards. A...
DRC and Zambia Emerge as Key Drivers of Global Copper Supply Amid Surging Demand
The Democratic Republic of the Congo (DRC) and Zambia are solidifying Africa’s role as a cornerstone of global copper supply amid a rapid rise in demand. The DRC ranks among the world’s top four copper reserve holders, while Zambia targets...
Brazil Party Asks Court to Halt Rare Earths Miner’s Sale
Rede Sustentabilidade, a left‑wing Brazilian party, petitioned the Supreme Court to block the sale of Serra Verde Group, a domestic rare‑earth miner, to U.S. firm USA Rare Earth Inc. The filing argues that Brazil’s constitution does not provide adequate safeguards...
Dangote at Full Throttle as Nigeria Becomes a Net Fuel Exporter
Nigeria became a net gasoline exporter in March as the 650,000‑bpd Dangote refinery operated near full capacity, producing enough fuel to meet domestic demand and generate significant exports. The refinery shipped roughly 55,000 b/d of gasoline and 100,000 b/d of jet fuel,...
Chinese Team Unveils Two New Lunar Minerals, Boosting Space‑mining Prospects
Chinese researchers announced the discovery of two previously unknown lunar minerals—magnesiochangesite-(Y) and changesite-(Ce)—from Chang'e‑5 samples. The find, revealed at the 2026 Space Day ceremony in Chengdu, underscores the growing relevance of lunar resources for future mining ventures.
Geopolitics Accelerates Clean Energy Shift, Raises US Prices
Russia’s invasion of Ukraine accelerated the process of technology replacing fossil fuels and the Iran war is adding fuel, in addition to boosting US energy price making status. Please join our BI Energy Exchange on Wednesday, April 29, 10am EST, hosted...
Sulfuric Acid Supply Tied to Gulf Gas Threatens Mining
Sulfuric acid is critical for mining & a big share comes from Persian Gulf gas processing The impact isn’t here yet, but the system is tightly linked. When upstream inputs break, mining, energy, and supply chains follow. https://t.co/a51q2RwNNj
Critical Metals Takes 92.5% Stake in Greenland’s Tanbreez Rare‑Earth Deposit
Critical Metals announced it now holds a 92.5% interest in Greenland’s Tanbreez rare‑earth project after the government transferred its remaining 50.5% stake. The deal unlocks a high‑grade deposit containing all eight heavy rare‑earth elements and positions the company at the...
Royalties and Strong Teams Drive Resource Asset Value
This was a great interview with James Davolos of Horizon Kinetics. He talks a lot about the virtues of royalties on irreplaceable assets, what makes good management teams in resource industries, and much else. https://t.co/lsvUUEMDz9 https://t.co/R821x7dNMS
Federal Decision on Remote Road Could Unlock Ring of Fire Access
Canada’s Impact Assessment Agency has launched a review of the 107‑km Webequie Supply Road, an all‑season highway intended to connect Webequie Airport with the mineral‑rich Ring of Fire in northern Ontario. The draft impact assessment, now open for public comment...