Greenland said on Friday it has rejected an application from Greenland Minerals, a unit of Australia’s Energy Transition Minerals, to renew its exploration licence for the Kuannersuit rare earths project. Criticalminerals report “Further exploration in the area is not deemed likely to lead to the discovery of deposits that can be exploited in accordance with the Uranium Act,” the government said in a statement. In 2021, the then-ruling Inuit Ataqatigiit party in Greenland banned uranium mining, effectively halting development of the Kuannersuit rare earths project, also known as Kvanefjeld, which has uranium as a byproduct. ETM said in April it…
Author: TJ Markle
Three Chinese brokerages – Yongan Futures (600927.SS), opens new tab, Orient Futures and Guotai Junan Futures – are preparing to apply for membership of the London Metal Exchange, sources familiar with the matter said, in a move that would boost China’s presence on the world’s biggest marketplace for industrial metals. The push reflects efforts by Chinese firms to capture a larger share of revenue from metals derivatives trading and further the brokers’ ambitions for global expansion. Only six of the exchange’s more than 40 clearing members – firms that clear and settle trades – are Chinese, leaving the world’s top…
In the year since President Donald Trump signed an executive order promising to create a deep-sea mining industry from scratch, businesses have raised millions of dollars from investors, stock prices have soared and federal regulators have raced to fast-track a permitting process. At least nine companies are in talks with the government for access to seabed minerals, according to an Associated Press review. Sections of the seafloor from American Samoa to Alaska could be auctioned for offshore mining this summer and through the fall. All the action suggests the U.S. may soon give the green light for companies to commercially…
The Iran war around the Strait of Hormuz is starting to hit miners far from the Persian Gulf, Wood Mackenzie warned on Wednesday. The conflict is choking sulphur shipments that feed Congo copper leach plants and Indonesian nickel refineries, while cutting Middle East aluminum supply and pushing up prices and premiums across major metal markets, the natural resources consultant says in a new report. The clash has disrupted more than half the seaborne sulphur trade, shut in about 11 million barrels per day of crude and put 3 million to 3.5 million tonnes of aluminum output at risk this year.…
Soaring exports of aluminum scrap risk leaving Britain short of a critical material needed for defence, clean energy, digital technologies and the auto industry, manufacturing trade body Make UK said. It warned the UK could face a crisis if more scrap continues to flow overseas, with industry moving abroad in search of better access to scrap markets. This risks jobs, investment and supply chain resilience. Make UK said domestic industry could need as much as 6 million metric tons of available scrap for recycling by 2035 to help meet projected aluminum demand of 8 million tonnes under the government’s Critical…
Kazatomprom, the world’s largest uranium producer, expects a global nuclear resurgence driven by AI power demand and reactor construction to support long-term growth without forcing the company to abandon its longstanding strategy of prioritizing value over production volumes. Chief executive Meirzhan Yussupov told MINING.COM the Kazakhstan-based producer remains committed to its “value over volume” approach despite rising demand forecasts and renewed investor interest in the nuclear fuel cycle. He said utilities are becoming increasingly focused on security of supply, while China, India and Middle Eastern countries continue expanding ambitious nuclear programs. China alone is targeting more than 100 reactors by…
Gold held a gain after US President Donald Trump said the Strait of Hormuz could reopen on Friday, likely easing an energy and inflation shock that has roiled global markets. Bullion was near $4,315 an ounce, having climbed 2.2% in the previous session after the US and Iran announced an interim deal to end the war and lift their maritime blockades in the region. Adding a note of caution, however, US allies were less optimistic about how quickly flows of energy and other commodities via the strategic waterway could resume. Oil held losses, with West Texas Intermediate trading near $81…
Resouro Strategic Metals (TSX-V:RSM) has completed a Preliminary Economic Assessment (PEA) for a starter operation at its flagship Tiros rare earths and titanium project in Brazil that it says confirms the potential for a billion-dollar operation. Prepared by a team led by Norda Stelo according to National Instrument 43-101 Standards of Disclosure, the PEA delivers post-tax NPV8 of $714.9m and post-tax IRR of 44.2%. One of the world’s largest JORC combined rare earths and titanium deposits, Tiros, located in Minas Gerais, hosts 1.4 billion tonnes in the higher confidence measured and indicated categories. Last year, measured and indicated resources increased by almost 37% to 1.4 billion tonnes at 12% titanium dioxide (TiO₂) and 4,000 parts per million total rare earth oxides (TREO). These include measured…
Tren de Aragua leader Niño Guerrero’s killing not only fulfills US President Donald Trump’s pledge to go after a criminal group he had identified as a scourge in the US, it also holds the promise of economic benefits in Venezuela. The joint strike on Guerrero’s base occurred in a remote region that is the heart of a promising gold mining area, and comes amid increasing interest by Venezuela and the US to develop the local industry. They see potential for producing ore legally if illegal extraction and smuggling, which have flourished in recent years, can be eradicated. As Venezuela seeks…
Australia’s richest person Gina Rinehart has taken a “significant stake” in Elon Musk’s SpaceX, betting that the world’s largest space company could become a major driver of demand for critical minerals and off-Earth infrastructure. Hancock Prospecting said Monday it received an allocation of SpaceX shares in the company’s record-breaking initial public offering last week, though it did not disclose the size of the investment. The Australian Financial Review reported the stake is worth more than $1 billion. SpaceX, formally known as Space Exploration Technologies, raised $75 billion in the largest IPO on record and closed its first trading day up 19%. “This is…