Today's Mining Pulse
Updated 2h ago
Uranium Royalty to acquire Sweetwater Royalties in $1.1B deal
Uranium Royalty announced a $1.1 billion acquisition of Sweetwater Royalties, valuing the target at roughly $1.9 billion including debt. The combined entity will form a U.S.-based parent slated for a Nasdaq listing, with Orion Resource Partners and Ontario Teachers’ Pension Plan taking significant stakes.
Also developing:
By the numbers: Virtus acquires DRC miner Chemaf for $30M
Aura Minerals Green Lights Guatemala Gold Project
Aura Minerals announced board approval to construct the Era Dorada underground gold mine in Guatemala, raising the project's capital budget to $386‑$453 million. The 17‑year mine is expected to produce 1.75 million oz of gold equivalent, with average annual output of 111,000 oz in its first four years. The development follows Aura’s 2025 acquisition of the former Bluestone Resources asset and replaces earlier open‑pit plans with a focus on environmental safeguards. Shares rose 2.2%, valuing the company at about $9 billion.
Oil Pulls Back as IEA Cuts Demand Outlook
Oil prices slipped below $100 a barrel as the International Energy Agency sharply reduced its 2026 demand‑growth forecast, marking the first annual demand decline since the pandemic. The cut, combined with a lull in U.S.–Iran confrontations, has shifted market focus...
Andina Copper Shows Early Upside with 232m 0.68% Cu Hit
$ANDC.V just hit 232m @ 0.68% Cu + 75ppm Mo + 2g/t Ag from 38m. Part of 486m @ 0.42% Cu. Footprint now ≥950m x 525m and open in all directions. 2nd rig mobilizing. Near-surface Cu-Mo porphyry with consistent hits = classic...
Angola Flooding Closes African Copper Export Route
Heavy rains in Angola have forced the Lobito Atlantic Railway to suspend service on the Lobito Corridor, a $2.1 billion rail‑and‑port project that moves copper and cobalt from the DRC and Zambia to Atlantic markets. The shutdown damages bridges and track...
Multi-Country Hydrogen-Based Iron-Ore-to-Green-Steel Breakthrough in Namibia
A hydrogen‑powered rotary kiln in Namibia has successfully converted 80 t of low‑grade Australian iron ore (56 % Fe) into direct‑reduced iron (DRI) at industrial scale, demonstrating climate‑neutral production without pelletising. The pilot, run by the SuSteel AG consortium linking Australia, Namibia and...
Andina Copper Posts 232 Metres of 0.68% Copper, 75 Ppm Moly From 38 Metres at Cobrasco Project, Colombia
Andina Copper Corp. announced drillhole CDH006 from a new step‑out pad at the Cobrasco Project in Chocó, Colombia, intersecting 232 m of 0.68% copper and 75 ppm molybdenum starting at 38 m depth. The hole confirms the northwest continuity of the Cobrasco Central...
Dolphin Drilling Lines up $230m Semisub Contract
Dolphin Drilling, the Oslo‑listed offshore contractor, has signed a letter of intent for a $230 million semi‑submersible contract for its Borgland Dolphin rig. The deal would begin in the second half of 2027, following the rig’s current Repsol assignment, and run...
Kodal Ships Record Lithium From Bougouni in Mali
Kodal Minerals reported record lithium production and shipments from its Bougouni mine in Mali during Q1 2026. The operation produced 26,981 tonnes of spodumene concentrate grading 5.28% Li₂O, with March output topping 10,900 tonnes, a new high. Total exports reached about 49,000 tonnes, generating...
From Earth to $2 Million: Inside Gold Bar Creation
How is a $2 MILLION gold bar made? ー At the Karlawinda Gold Mine in Western Australia, gold goes from raw earth to a multi-million-dollar asset through an incredible process. ー It's not every day you get to hold a few million dollars in...
Why Fertilizer Prices Could Remain High Into 2027
Rabobank’s semi‑annual fertilizer outlook warns that phosphate prices will stay above $1,000 per ton through 2027, driven by geopolitical shocks from the U.S.–Iran conflict and potential Strait of Hormuz closures. The 12‑month affordability index for nitrogen, phosphate and potash has...
Japan Finds a Way to Recover 90% of Lithium From Old EV Batteries
Japan’s JX Metals Circular Solutions has demonstrated a new recycling line that pulls roughly 90% of lithium from end‑of‑life electric‑vehicle batteries, about twice the recovery rate of earlier methods. The plant in Tsuruga uses a revised hydrometallurgical treatment that substitutes...
Rise In China Rare Earth Exports
China’s rare‑earth shipments rose to 62.6 thousand metric tons in 2026, up from 55.4 thousand tons in 2024 and well above the pandemic low of 35.4 thousand tons in 2020. The surge includes the highest monthly export volume since 2009, reflecting robust demand...
DNV Paper Finds That Existing LNG Infrastructure Can Ease Transition to Low‑GHG Methane
Demand for low‑GHG methane is rising as the LNG‑fuelled fleet faces tighter emissions rules. With about 800 LNG‑capable vessels already operating and 600 more on order, the sector has a mature technical base and global bunkering network. DNV’s white paper...
Global Oil Flows Plunge as Hormuz Disruption Chokes Tanker Trade
Global seaborne crude oil shipments have plunged 16% since the Iran war, cutting daily volumes by 7.6 million barrels to 38.4 mbpd—about 9.5% of projected world production now stranded. Gulf exports collapsed, with a net loss of 9.0 mbpd after modest gains from...
ISO, GHG Protocol Launch Working Group to Develop Unified Product-Level GHG Accounting Standard
ISO and the Greenhouse Gas Protocol have established a Joint Working Group to create a unified product‑level greenhouse‑gas accounting standard. The effort builds on their strategic partnership launched last year to reduce fragmentation in emissions measurement. The group attracted more...
Namibia’s Central Bank Lowers Economic Growth Forecasts
Namibia’s central bank slashed its GDP growth outlook, now projecting 2.6% for 2024 and 2.9% for 2025, trimming previous estimates by 1.2 and 1.4 percentage points respectively. The downgrade reflects a sharper-than‑expected decline in metal ore output and persistent weakness...
EnviroGold to Develop Processing Hub for Metal Supply Boost
EnviroGold Global is rolling out a centralised processing hub that uses its NVRO Process to treat tailings and complex sulphide ores across the United States, Canada and Australia. The hub model shares infrastructure, allowing licensing and toll‑processing arrangements that cut...
Ucore Upgrades Bokan Mountain Resource
Ucore Rare Metals released an upgraded resource estimate for the Dotson Ridge deposit at its Bokan Mountain project in Southeast Alaska, revealing a measured resource of 801,600 t containing 4.83 million t of total rare‑earth oxides (TREO) at an average 0.6% grade. The...
North America Loses Rigs For 7 Straight Weeks
Baker Hughes reported that North America’s weekly rig count fell by 10 units, bringing the total to 680 rigs – 545 in the United States and 135 in Canada. The U.S. rig mix includes 411 oil rigs, 127 gas rigs...
Turner Mining Group Taps Wingspire Equipment Finance for Fleet Expansion Plans
Turner Mining Group has secured a structured equipment financing facility with Wingspire Equipment Finance worth up to $150 million. An initial $20 million tranche is being used to acquire a mobile mining fleet for the GRP Pan Gold Mine in Nevada, with...
Gold Terra Extends Yellorex at Depth
Gold Terra Resource Corp. announced assay results from five new drill holes at its Yellorex zone, part of the Campbell Shear on the Con Mine Option property in the Northwest Territories. The intercepts confirm high‑grade gold mineralization down to roughly...
Oil Surge Signals Glut Risks for Grains, Crypto
Oil Surge Flags Glut Risks Amid Bear Bounces in Grains, Cryptos Crude oil's move to about $100 a barrel during the Iran war from roughly $60 last year may echo 2022, with oil taking cues from plunging, well-supplied US natural gas....
Hedge Funds Bet Heavily on Oversupplied Grains
Hedge Funds Are Long on Oversupplied Grains Hedge funds are at their most net long in about three years despite an oversupplied grain bear market after the Iran-war bounce. My graphic highlights the potential oxymoron: managed-money net longs in corn, soybeans...
FPX Nickel Renews Global Generative Exploration Alliance with JOGMEC
FPX Nickel Corp. has renewed its Global Generative Exploration Alliance with Japan's JOGMEC for a fourth year, committing $1.2 million to the program from April 2026 to March 2027. FPX will fund 60% of the budget, securing a 60% ownership stake...
CGNT Hits High‑grade Copper; PEA Imminent Amid Demand Surge
$CGNT.v MD-060: 68m @ 0.97% CuEq inside 371m @ 0.53% CuEq. Higher grades at southern margin (141m @ 0.71% CuEq). Copper ~$6/lb on AI/electrification demand + supply deficits. 3 rigs drilling toward PEA. @Cu_Giant should attract some attention.
China Halts Exports From Plastic Trinkets to Missile Magnets
Bessent: “China is stopping exports of various products” Products like “plastic trinkets”, or products like “the rare earth magnets we need to rebuild our missile stockpiles to continue our war v. Iran”? 🤔
Transocean Locks in $445m Petrobras Drillship Extension
Transocean secured a 1,156‑day extension from Brazil’s Petrobras for its ultra‑deepwater drillship Deepwater Corcovado, adding roughly $445 million to its backlog and keeping the rig operational through November 2030. The agreement includes a short‑term $20 million backlog reduction between April 2026 and September 2027 as...
European Gas Hits Lowest Since War Began
European natural gas prices are heading toward their lowest settlement since the war started (Feb 28), currently trading at €43 per MWh (that's ~$15 per mBtu). The European gas benchmark TTF is now **lower** than it was in late January...
Buy a Tranche of This Undervalued Gold‑copper Stock Now
New ALERT in Paydirt Prospector: "Buy A Tranche of This Stock Today." This rebranded #gold-#copper company began trading today. It comes out of the gate with a large resource and a stock that’s deeply undervalued and on its way to getting repriced. https://t.co/4rKkyD4Wxt
Tharisa’s Second-Quarter Performance Shows Resilience, Operational Discipline, CEO Says
Tharisa reported 34,300 oz of platinum‑group metals (PGM) in Q2 2026, with recoveries steady at 77.5 %. Chrome output rose to 404,000 t, driven by higher feed grades, while PGM prices jumped to $3,038 per ounce, up from $2,208 in the prior quarter. The...
US Must Build Talent and IP, Not Just Fill Gaps
Why the US may need more than just fixing gaps to rival China on rare earths Yup, some have been saying this for some time, despite all the happy talk... Personnel and IP.... https://t.co/ehnvjtwql4
Blockade Forces Iran‑linked Tankers to Abort Hormuz Passage
Some of the Iran-linked oil / refined products tankers that attempted to cross the Strait of Hormuz have either stopped or performed U-turns. The blockade, so far, appears effective. Remember, the vessels are not stopped in the middle of the strait,...
China Eases Curbs on Select BHP Iron Ore Shipments, Opening Path for Dollar‑Denominated Bids
China Mineral Resources Group told steel mills they can resume bidding for some BHP Group iron ore cargoes priced in U.S. dollars, marking a partial relaxation of export curbs that have hampered shipments for weeks. The move does not yet...
Oklahoma Smelter's Long Build, No Tariff Profit Reliance
"The [Oklahoma] smelter will take at least three years to build and be expected to operate for decades. EGA says it isn’t counting on the tariffs that have helped drive up aluminum prices to make the project profitable." https://t.co/OFyR3UKIwS https://t.co/h0CtrCP2iy
Helium and Bromine Shortages Trigger Global Memory‑Chip Crunch, Hit Apple, Microsoft and PC Makers
A sudden squeeze in helium and bromine supplies is choking DRAM and NAND production, prompting Apple, Microsoft and major PC manufacturers to confront price hikes and inventory gaps. Spot helium prices have doubled and 97.5% of the world’s bromine imports...
IEA Cuts Oil Outlook on ‘Largest Disruption in History’
The International Energy Agency slashed its 2026 oil demand forecast by 730,000 barrels per day, citing the sharpest demand drop since the Covid‑19 pandemic. Conflict after the US and Israel attacked Iran has crippled Middle‑East energy infrastructure and effectively closed...
Canada and Peru Delegations Heading to Perth for GRX26
Perth will host the Global Resources Innovation Expo (GRX26) from May 5‑7, drawing delegations from Canada, Peru, Chile, New Caledonia and the Philippines. Co‑hosted by Austmine and AusIMM, the event will spotlight Australia’s mining equipment, technology and services (METS) capabilities and critical‑minerals...
Petrobras Makes FID for Brazil’s Deepwater Scheme, Picks SBM Offshore for FPSOs
Petrobras has issued a final investment decision for the SEAP I deepwater project in Brazil’s Sergipe‑Alagoas Basin, joining the previously sanctioned SEAP II module. The combined development will cost over $12 billion (about $11.4 billion) and aim to produce more than 1 billion barrels of oil...
China's Gold Market Importance Probably Growing, Says Precious Metals Analyst
Precious‑metals analyst Jeffrey Christian says China’s role in the gold market is expanding, mirroring its broader economic rise. Record gold prices are driven by a surge in investment demand, with investors buying roughly 55 million ounces in 2025, while central banks...
Australia and US Allocate $3.5bn for Critical Minerals Projects
Australia and the United States have pledged more than $3.5 bn to fund critical‑minerals projects in Australia under a bilateral Critical Minerals Framework. The financing, provided by Export Finance Australia and the U.S. Export‑Import Bank, backs a slate of initiatives including...
Pirate Gold Drills 65.1 G/T Gold over 3.25 Metres in New Rib Vein Discovery at Moosehead Zone, Treasure Island Project,...
Pirate Gold Corp. announced a new high‑grade Rib Vein discovery in the Moosehead Zone of its Treasure Island Project in Newfoundland. Drilling intersected up to 65.1 g/t gold over 3.25 m, including a spectacular 309.5 g/t over 0.65 m. Sixteen drill holes now outline...
Sandvik Introduces End-to-End Resin Bolting Solutions
Sandvik has unveiled a fully integrated, end‑to‑end resin bolting solution for underground mining, merging its drill rigs, pumpable resin systems, automatic capsule injection, chemical products and bolt portfolio into a single engineered package. The sealed pumpable resin can be mixed,...
EU's New Minerals Platform Challenges China's Rare Earth Dominance
China controls 90% of rare earth output. The EU just launched a coordinated minerals procurement platform. Geopolitics, energy transition, defense, AI chips: all competing for the same supply chain. This is not a trade story. It is a sovereignty story. https://t.co/0NssdXkSXt
Norway Reopens Annual Whale Hunt Despite Pressure to End Commercial Whaling
Norway reopened its annual minke whale hunting season, authorizing a quota of 1,641 whales—235 more than the previous year. Despite the quota, domestic demand remains low, with only about 1% of Norwegians regularly consuming whale meat, and roughly a third...
IEA Cuts Oil Demand, Supply Outlook Amid Iran War
The International Energy Agency (IEA) sharply revised its outlook, now expecting global oil demand to fall by 80,000 barrels per day in 2026, down from a previously projected 640,000‑bpd increase. It also cut the 2026 supply forecast by 1.5 million bpd, reversing...
WATCH: Aker BP Making Inroads at North Sea Oil & Gas Projects
Norwegian oil and gas producer Aker BP is advancing its North Sea portfolio, with the Valhall PWP‑Fenris development entering construction and a $6.6 billion investment slated for first gas in Q3 2027. The 1,000‑tonne MEG module has been completed and the Fenris...
The Spike in Diesel Prices Is Quietly Costing You Billions
Diesel prices have surged 54% since the Iran‑Israel conflict began on Feb. 28, outpacing gasoline’s 38% rise and adding roughly $9.4 billion in extra costs for U.S. households—about half of the $19 billion total fuel burden. The spike stems from the Strait of...
Philippines Seeks US Extension to Buy Russian Oil
The Philippines has asked the United States to extend a waiver that lets Manila purchase Russian oil, a permission that lapsed on April 11. Energy Secretary Sharon Garín said the government remains optimistic about the extension while also scouting alternative supplies...
Solar Panels Aren’t as “Clean” As We Like to Think
Solar panels are often praised for zero emissions during operation, but their production and end‑of‑life stages carry significant ecological costs. Mining quartzite for silicon, energy‑intensive refining, and chemical processing create habitat loss, toxic waste, and high carbon footprints. Utility‑scale solar...
Europe Must Match Asian Prices to Secure LNG
If Europeans want to avoid gas shortages, they need to pay competitive prices — or their LNG shipments will keep getting diverted to the highest bidder in Asia. Map from @Kpler https://t.co/BUf2kkzmNN
