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:
Govt Imposes Import Curbs on All Articles of Gold, Silver, Platinum
The Indian government has imposed a blanket import ban on all articles of gold, silver and platinum, overriding any existing contracts, letters of credit or advance payments. The Directorate General of Foreign Trade announced the revision of Chapter 71 of the import policy with immediate effect, eliminating transitional benefits. The move targets alleged misuse of the India‑ASEAN free‑trade agreement, where importers exploited duty differentials. Earlier, the government had limited curbs to jewelry; now the restrictions cover every form of these precious metals.
Founders Metals Makes First Discovery at Antino North; Drills 17.22 G/T Au over 3.6 M Within 24.6 M of 2.81...
Founders Metals announced its first drill hole in the Antino North area of southeastern Suriname, intersecting 17.22 g/t gold over 3.6 m within a broader 24.6 m interval grading 2.81 g/t, starting just 1.5 m below surface. The high‑grade, near‑surface intercept confirms the presence of...
Komatsu Germany Mining Division Announces Global Launch of PC9000-12 Hydraulic Mining Excavator
Komatsu Germany Mining Division has launched the PC9000-12, the biggest hydraulic excavator in its PC series, for global sale after a successful debut in Canada. The machine can be equipped with diesel Tier 4, unregulated diesel, or electric drive, and is...
South America’s Rightward Shift Lifts Mining
Colombia’s May 31 presidential election will test whether a right‑leaning, market‑friendly government can revive a mining sector that contributed about 2.4% of GDP but saw output fall amid higher taxes and security concerns. The vote comes as Argentina, Chile and Bolivia...
Fossil Fuels Consume 11% of Global Energy; Renewables Need None
To boot, 11% of all energy worldwide is used just to mine, transport, process, and/or refine fossil fuels and uranium. https://t.co/c3RjxqKhcO Whereas wind, solar, geothermal, and hydro require 0 such energy because wind comes right to the turbine, etc. So for anyone to...
Polestar Launches Recycled Battery Content in Two Models
Polestar announced that the battery packs in its Polestar 2 and Polestar 3 models will contain at least 50 % recycled cobalt, marking the first rollout of circular battery material in its lineup. The initiative is part of a broader circularity strategy that...
Magna Mining Files Technical Report for the McCreedy West Mine in Sudbury, Ontario
Magna Mining Inc. filed an independent NI 43‑101 technical report for its McCreedy West Mine in Sudbury, Ontario. The report, prepared by SGS Canada and dated April 1 2026 with an effective date of December 31 2025, details the mine’s mineral reserve and resource...
Atlas Lithium’s Neves Project Selected for Potential Funding Under US-Japan Partnership
Atlas Lithium’s flagship Neves lithium project in Brazil was named in the joint US‑Japan critical minerals fact sheet, making it the sole Brazilian asset under consideration for government funding. The inclusion follows a $30 million strategic investment and off‑take agreement with...
First Majestic Eyes Late 2027 Restart for Jerritt Canyon
First Majestic Silver announced plans to restart the Jerritt Canyon gold mine in Nevada by late 2027, targeting a $75 million (≈ $76 million USD) 2026 investment for technical work, underground development and plant upgrades. A new prefeasibility study is slated for Q4...
Brazil’s Iron Ore Production to Rise Due to Stronger Vale Performance
Brazil’s iron ore output is set to climb 1.9% in 2025, reaching 437.2 million tonnes, driven largely by Vale’s 336.1 mt production which accounts for 76.9% of national supply. The resumption of pelletizing Plant No. 4 and the ramp‑up of BHP’s Samarco concentrator...
Baker Hughes, Naftogaz to Explore Energy Cooperation
Ukraine’s state‑owned Naftogaz and U.S. energy‑technology firm Baker Hughes have signed a memorandum of understanding to explore joint projects across the entire energy value chain, from upstream exploration to power generation. The agreement emphasizes improving gas turbine and compressor efficiency,...
Cerrado Battles Portugal over Stalled Copper-Zinc Project
Toronto‑listed Cerrado Gold reported higher earnings but faces a legal battle in Portugal over its Lagoa Salgada copper‑zinc project. The company filed an injunction against an environmental ruling that cited water‑resource risks, arguing procedural flaws and a shortened consultation period....
Cerrado Battles Portugal over Stalled Copper-Zinc Project
Cerrado Gold reported higher earnings but is now embroiled in a legal fight over its Lagoa Salgada copper‑zinc project in Portugal. The company filed an injunction against a January environmental ruling that cited water‑resource risks, claiming procedural flaws. Shares hovered...
Vale Base Metals to Deploy Coarse Particle Flotation at Salobo Copper Mine
Vale Base Metals will introduce coarse particle flotation (CPF) at its Salobo III copper mine in Brazil, aiming to lift ore throughput from 35 Mt in 2025 to 42 Mt by 2029. The CPF system processes larger particle sizes, allowing a primary grind...
Cassiar Gold Launches PEA at B.C. Project
Cassiar Gold Corp. announced the launch of a preliminary economic assessment (PEA) for its 100%-owned Cassiar Gold project in northern British Columbia, targeting completion in the third quarter of 2026. The study will focus on the Taurus deposit, which now...
Exxaro Concludes 9.3mt Coal Sale with Eskom
Exxaro Resources signed a long‑term agreement with South Africa's power utility Eskom to supply 9.3 million tonnes of coal each year to the Matla power station. The coal will come from Exxaro's Matla Colliery, which recently completed a R5.2 bn (≈ $275 m) expansion...
Canuc Provides Details for Seismic Survey
Canuc Resources announced that OptiSeis Solutions has launched a high‑resolution seismic survey on its 100% owned East Sudbury Project in Ontario, backed by Natural Resources Canada’s Critical Minerals Geoscience and Data Initiative. The program will acquire 13.5 km of 2D...
Amarc Confirms Boliden’s Participation in B.C. Copper-Gold Project
Amarc Resources announced that Boliden Mineral Canada will not exercise its option to invest an additional $60 million (≈$44 million USD) to raise its stake to 70%, keeping a 60% interest after a $30 million (≈$22 million USD) contribution through 2025. The partnership, governed...
Singapore Bunker Supply Continues to Run Down as Middle East War Drags On
Singapore, the world’s largest bunkering hub, sold 56.2 million metric tons of bunker fuel in 2025, a 3.2% increase year‑over‑year. Over half of its fuel imports travel through the Strait of Hormuz, which has been effectively closed since the Middle East...
Sudbury to Host Underground Mining Technology Showcase in May
NORCAT’s third biennial Mining Transformed showcase will convene in Sudbury this May, offering the world’s only underground mining technology exhibition. Over three days, developers can demonstrate autonomous, electrified and digital solutions inside the NORCAT Underground Centre, letting buyers evaluate performance...
Anfield Energy Submits Notice of Intent for Underground Drilling at SM-18 Uranium-Vanadium Project, Colorado
Anfield Energy filed a Notice of Intent to commence underground drilling at its SM‑18 uranium‑vanadium project in Colorado, aiming to verify and potentially expand existing resources. The program will also support the development of a comprehensive Plan of Operations, positioning...
World Fuel, West Coast Clean Fuels Launch US Methanol Bunkering Service
World Fuel Services and West Coast Clean Fuels have launched a U.S.‑wide methanol bunkering capability after a successful pilot in South Florida. The service uses Coast Guard‑approved procedures, trained crews and purpose‑built equipment to deliver methanol directly from trucks to...
OPEC Warns Oil Demand Forecasts Miss Rising ICE Sales
OPEC researchers raise a very important point here. A major oversight in forecasts predicting a sharp drop in oil demand from rising EV adoption is the failure to account for the ongoing growth in internal combustion engine (ICE) vehicles. Ironically,...
Improving Recycling Rates for Cell-to-Pack Battery Systems
The Fraunhofer IPA‑led ‘Difference’ project targets the low recyclability of Cell‑to‑Pack (CTP) battery designs, which replace traditional modules with directly integrated cells. By focusing on robot‑assisted, laser‑based disassembly, the consortium aims to separate adhesives, foams and metals efficiently. The initiative,...
Coal Mine Giant EVR Contributes $6.1B to Canadian Economy
Elk Valley Resources (EVR), Canada’s largest steel‑making coal producer, reported that its operations generate roughly $4.5 billion USD in national GDP, accounting for about 12% of the country’s mining sector. In British Columbia, EVR contributes approximately $3.9 billion USD to the provincial...
OMV Petrom’s Black Sea Well Fails to Find Significant Gas Volumes
OMV Petrom and its partners completed drilling the Krum‑1 exploration well in the Han Asparuh Block offshore Bulgaria, reaching roughly 3,500 metres without encountering significant gas volumes. The well follows the Vinekh well as the second deep‑water test in the Black Sea basin....
StanChart Warns OPEC+ Could Abandon Cuts at Next Meeting
Standard Chartered’s energy research head Emily Ashford warned that the OPEC+ meeting on April 5 could see the group abandon its voluntary output cuts and associated compensation cuts, effectively unwinding the remaining April 2023 adjustments. She highlighted that eight OPEC+ members, led...
Mon Mine Restart Clears Another Hurdle
Sixty North Gold Mining has completed the winter‑road delivery of all equipment needed to restart the Mon gold mine in the Northwest Territories. The company aims to begin mill construction this summer and resume production at a permitted 100‑ton‑per‑day capacity,...
Borr Drilling Secures New Drilling Rig Contracts Across Four Regions
Borr Drilling announced new contract commitments and extensions for four of its premium jack‑up rigs spanning West Africa, the Americas, Europe and Southeast Asia. The Prospector 5 rig secured a binding 320‑day, up‑to‑220‑day extension contract with BW Energy in Gabon. The...
Transocean Secures $1bn Backlog Boost
Transocean announced a roughly $1 bn increase to its order backlog after winning a new harsh‑environment semisub contract in Norway and securing extensions for two ultra‑deepwater drillships in Brazil. The Barents rig will operate under a 1,095‑day, $450,000‑per‑day agreement starting mid‑2027,...
Future of Matla Mine, Power Station Secured as Exxaro, Eskom Ink CSA to 2043
Exxaro Resources and state utility Eskom have signed a new coal supply agreement that extends the delivery of Matla mine coal to the Matla power station through November 2043, renewing a partnership that began in 1983. The contract is a...
BP, ADNOC JV Takes FID on Harmattan Gas Project Off Egypt
Arcius Energy, the BP‑ADNOC joint venture, announced a final investment decision to develop the Harmattan gas field in Egypt’s El Burg Offshore concession. The project carries an estimated $500 million investment and aims to lift domestic natural‑gas output. Execution contracts have been...
DOE, Amazon Launch AI Hub to Recycle Battery‑Grade Graphite
The U.S. Department of Energy’s Ames National Laboratory and the Critical Materials Innovation Hub have teamed up with Amazon to unveil an AI‑driven Critical Materials Hub that will recover battery‑grade graphite and other strategic minerals from textile and electronic waste....
Metso Launches Robotic Split Strip for Optimised Cathode Stripping in Copper Operations
Metso has launched the Outotec® Robotic Split Strip, a compact, robot‑driven system for separating cathode sheets from plates in copper electrorefining. The solution combines hydraulic precision with flexible robotics, replacing bulky mechanical split‑strip machines and allowing easier installation and maintenance....
Trump’s Iran Threat Sends Oil 5% Higher, Triggers Sharp Drop in Asian Stock Markets
Donald Trump warned of intensified attacks on Iran, pushing Brent crude up 4.9% to $106.16 a barrel and U.S. crude 4% to $104.15. The rhetoric sparked a coordinated sell‑off across Asian equity indices, highlighting the market’s sensitivity to geopolitical risk.
Zacatecas Silver Starts 2026 Drilling at El Cristo, Mexico
Zacatecas Silver has kicked off its 2026 diamond drilling campaign at the El Cristo Project in Mexico’s historic Zacatecas Mining District. The first hole reached 117 m depth on a –60° incline and intersected a brecciated, sulphide‑rich vein between 89 m and...
Fuel Prices Are Soaring. Plastic Could Be Next.
The ongoing Iran‑related conflict has closed the Strait of Hormuz, pushing crude oil above $100 per barrel and gasoline past $4 a gallon in the United States. The spike is reverberating through petrochemical feedstocks, especially naphtha, where Asian prices have...
Oil Hikes 7% After Trump Says US-Israel Will Keep Striking Iran
Oil prices surged nearly 7% on Thursday after President Donald Trump warned that the United States and Israel would continue striking Iran, reigniting concerns over supply disruptions. Brent crude rose to $108.81 a barrel and U.S. WTI to $107.18, marking...
EnQuest Enters Malaysia with Cendramas Production Sharing Deal
EnQuest plc has signed a production sharing contract for the Cendramas block offshore Malaysia, securing a 25% participating interest through its subsidiary EnQuest Petroleum Production Malaysia. The block will be operated by Medco Asia Pacific, which holds a 50% stake,...
Weekly Newsletter 2 April 2026
Mining Magazine, founded in 1909 by future President Herbert Hoover, continues to serve as a premier source of technical insight for mine managers worldwide. This week the publication announced the inaugural Mining Magazine Awards for 2026, a new program that...
Gold Fields in $740m Fight with Ghana President’s Brother
Gold Fields is embroiled in a $740 million legal dispute with its contractor E&P, which is owned by Ghana President John Mahama’s brother. E&P has filed two claims—$474.9 million over the Tarkwa mine and $264.7 million over the Damang asset—as Gold Fields seeks...
US, European Funders in Mix for Tharisa’s Karo Project
Tharisa is seeking $300 million of financing for its $545 million Karo platinum‑group‑metals project in Zimbabwe, courting North American and European government‑backed lenders alongside offtake partners. The mine is designed to produce about 226,000 ounces of PGMs per year in its first...
China Launches First Provincial Critical Metals Group in Guangxi
China formed its first province-level critical metals group in Guangxi to strengthen control over strategic materials. https://www.metalnomist.com/2026/04/china-critical-metals-group-signals.html
Brent Oil Surges to $141.37, Highest Since 2008
Physical oil hits its highest level since 2008 *DATED BRENT OIL PRICE SOARS TO $141.37/BBL, HIGHEST SINCE 2008 https://t.co/OkcbcnE3kg
Energean Warns Prolonged Conflict May Delay $1B Gas Project
Energean is spending roughly $10 million each month to keep its Israeli offshore assets on standby as the Israel‑Iran conflict drags on, and its $1 billion Katlan gas development could be postponed if hostilities extend beyond May. CEO Mathios Rigas emphasized that...
WTI Gains $110, Reaches Biggest Brent Premium Since 2008
US-based WTI crude oil is up around 110 with today's surge following President Trumps address to the nation yesterday. Notably, this puts WTI (US-benchmark) to a ~3 premium to Brent. That's the first premium (on a weekly basis) since Jan...
WTI Backwardation Spikes, Shale Hedging Options Remain Limited
CHART OF THE DAY: The extreme backwardation in WTI oil futures, and the impact on (lack of) hedging opportunities for US shale for 2027-28. While the front of the curve has exploded (+$44 a barrel), the back (24 months out...
Southern Silver Drills 4.6 Metres Averaging 201 G/T Ag, 4.5% Pb and 9.8% Zn (557 G/T AgEq) at Puro Corazon...
Southern Silver announced final assay results from its Puro Corazon drill program in Durango, Mexico, highlighting several high‑grade silver‑lead‑zinc intercepts, including a 4.6‑metre zone averaging 201 g/t Ag, 4.5 % Pb and 9.8 % Zn (557 g/t AgEq) and a 1.5‑metre zone with 401 g/t...
Growth Lies South of Canada, Not Within It
Good episode by @mattmichaelOG with @LiontownRes CEO TonyO. I don’t think Canada is the growth answer. More likely several thousand miles south of that. https://t.co/PPRbyaai1w
Physical Commodities' Real Value Lies in Logistics
Watch closely and you can see the crowd awakening to the reality that physical commodities are far different from financial assets. Yes, there are supply and demand. But there is all the in between: transportation, storage, processing... which ultimately...