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A Thrilling Yellow Diamond Discovery at Rio Tinto’s Diavik Mine – by Jane Asher (Natural Diamonds – April 1, 2025)

https://www.naturaldiamonds.com/

This exciting new discovery is sure to make natural diamond history.

A new diamond discovery from Rio Tinto’s Diavik mine in Canada’s Northwest Territories has been unearthed, a thrilling discovery for the natural diamond industry. The 158.20-carat rough diamond is one of the largest gem-quality yellow diamond ever discovered in Canada, the third-largest natural diamond producer in the world. Rio Tinto’s yellow diamond discovery is sure to make history.

The rough diamond is only one of five yellow diamonds weighing over 100 carats ever discovered at Diavik in its 22-year history. The mine, located just 200 kilometers south of the Arctic Circle, primarily produces white gem-quality diamonds. This yellow diamond discovery falls into the less than 1% category of yellow diamond production from Diavik, making it an ultra-rare gemstone.

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First Quantum backs off Panama arbitration claims, opening door to reopening copper mine – by Niall McGee (Globe and Mail – April 2, 2025)

https://www.theglobeandmail.com/

Canadian copper miner First Quantum Minerals Ltd. has agreed to drop or suspend its arbitration claims against Panama, opening the door to a resolution that could see its giant operations in the country eventually reopen.

Vancouver-based First Quantum in late 2023 filed international arbitration proceedings against Panama around the time then-president Laurentino Cortizo ordered the shutdown of its Cobre Panama mine. Mr. Cortizo took the drastic step after Panama’s Supreme Court ruled that its mining contract was unconstitutional, and during massive public protests against the mine.

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Exclusive: White House weighs executive order to fast-track deep-sea mining, sources say – by Ernest Scheyder and Jarrett Renshaw (Reuters – March 31, 2025)

https://www.reuters.com/

The White House is weighing an executive order that would fast-track permitting for deep-sea mining in international waters and let mining companies bypass a United Nations-backed review process, according to two sources with direct knowledge of the deliberations.

If signed, the order would mark U.S. President Donald Trump’s latest attempt to tap international deposits of nickel, copper and other critical minerals used widely across the economy after recent efforts in Greenland and Ukraine. Trump earlier this month also invoked emergency powers to boost domestic minerals production.

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Hudbay becomes sole owner of Copper Mountain mine in British Columbia – by Staff (Mining.com – March 27, 2025)

https://www.mining.com/

Hudbay Minerals (TSX, NYSE: HBM) has consolidated ownership of the Copper Mountain mine in southern British Columbia, a move that aligns with the Canadian miner’s strategy to boost its copper production in North America.

On Thursday, Hudbay said it is acquiring Mitsubishi Materials’ 25% stake in the mine for $44.25 million in cash, of which $4.5 million is paid upfront and $21 million paid in seven equal annual installments. The remaining $18.75 million will consist of five equal payments contingent on certain operating milestones.

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Gold is in the final stages of its decade-long rally – by Avi Gilburt (Kitco News – March 31, 2025)

https://www.kitco.com/

It is now almost 14 years since I published my first public article on gold analysis. Back in August of 2011, I outlined my expectation for a top in gold at $1,915 even though it was involved in a parabolic rally at the time. Well, needless to say, that gold article was not viewed favorably by readers at the time.

In fact, I was summarily told in the comments section that I knew nothing about the gold or financial markets. Yet, one brave commenter asked me where I foresee gold heading if it does top at my expected target. And, when I answered that I expected it could drop back to the $1,000 region he responded by chiming in as the others and telling me I know nothing about the gold or financial markets.

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Trump-Era Pivot on Seabed Mining Draws Global Rebuke – by Eric Lipton (New York Times – March 30, 2025)

https://www.nytimes.com/

Diplomats from more than 30 nations have criticized a proposal that could allow the start of seabed mining by 2027.

Nearly 40 nations, big and small, have voiced opposition to a plan by a Wall Street-backed mining company to team up with the Trump administration to circumvent international law and start seabed mining in the Pacific Ocean with a U.S. permit.

The widespread furor reflected a rare alignment from countries as varied as China, Russia, India, the United Kingdom, New Zealand, Indonesia, France, Argentina, Uganda and the small island nations of Mauritius and Fiji. The plan also brought to the fore a pitched clash over who regulates seabed mining in international waters.

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Ring of Fire road will be ‘real opportunity’ for northern Ontario, minister says – by Isaac Callan and Colin D’Mello (Global News – March 31, 2025)

https://globalnews.ca/

Sensing a potential change in tone from the next federal government as U.S. President Donald Trump slaps tariffs on Canada, the Ford government is ramping up its efforts to build a road to the Ring of Fire. Creating a way to mine the mineral-rich area in northern Ontario has been on Premier Doug Ford’s to-do list since he was elected for the first time in 2018, but little progress has been made.

Now, with a federal election in full swing, Ontario sees a potential opportunity to move its long-held ambitions forward. Prime Minister and Liberal Leader Mark Carney has said he wants to create a process for the federal government to support nation-building projects if he’s elected, with the Ring of Fire being one option.

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BHP’s new chairman Ross McEwan meets investors, reads up on history – by Peter Ker (Australian Financial Review – March 31, 2025)

https://www.afr.com/

Ross McEwan has had a few weeks to brush up on his history. The former National Australia Bank chief executive was announced as the next chairman of the country’s largest miner, BHP, last month. He starts on Monday, replacing retiring predecessor Ken MacKenzie.

And he’s prepared for his stint by reading Geoffrey Blainey’s The Steel Master, a 1971 profile of Essington Lewis, a man who was either managing director or chairman of the mining giant between 1921 and 1961.

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Why UK is close to becoming only G7 nation without steel production ability – by Rishabh Sharma (Business Standard – March 31, 2025)

https://www.business-standard.com/

The United Kingdom, once the birthplace of the Industrial Revolution, now faces a major crisis in its steel industry. British Steel has announced plans to close its two blast furnaces and steelmaking operations in Scunthorpe, a move that threatens up to 2,700 jobs and marks the end of more than 160 years of steel production in the town.

The company, owned by China’s Jingye Group, has cited financial losses of £700,000 per day as well as economic pressures including tariffs and rising environmental costs. The decision has been met with strong criticism from trade unions, who have described it as “devastating”.

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Port of Churchill sees renewed interest as Canada looks to diversify trade routes – by Lauren Krugel (Canadian Press – March 30, 2025)

https://www.thecanadianpressnews.ca/

Manitoba may be smack dab in the middle of the country, but its premier wishes to remind Canadians it’s a maritime province. “When you think of Manitoba, you think of the Prairies, you think of the bush, but did you know that you can get to saltwater as well?” Wab Kinew said in early February as the province and Ottawa announced a joint $80-million investment in the Port of Churchill.

Trade routes that eschew the United States have become a focus as U.S. President Donald Trump continues to threaten Canadian sovereignty and subject businesses to tariff whiplash.

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Chile’s Mining Giants Remain Optimistic In The Face Of Industry Challenges – by Rebecca Johns (Latin America Reports/MSN.com – March 29, 2025)

https://www.msn.com/

Through the rugged terrain of the Choapa Valley, desalinated water travels along 38 miles of pipelines from the Los Vilos port to the El Mauro dam, which supplies the Antofagasta-owned Los Pelambres mine with the water it needs to operate.

Establishing this system proved costly, requiring a $2 billion investment. However, it was essential for ensuring continued mining operations in a region where droughts are frequent and groundwater supplies are primarily designated to serve local civilians.

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In the hot seat: Algoma Steel faces dual pressures of electric arc furnace rollout while fighting Trump tariff turmoil – by Niall McGee (Globe and Mail – March 29, 2025)

https://www.theglobeandmail.com/

More than 30 years after serving in the U.S. military, Algoma Steel Group Inc. chief executive officer Michael Garcia is once again in the line of fire. But instead of facing a foreign military foe as he did in the 1990/1991 Gulf War, the threat is economic, and the aggressor is his own countryman.

On March 12, U.S. President Donald Trump levelled a 25-per-cent tariff on Canadian steel imports, making it significantly harder for Sault Ste. Marie, Ont.-based Algoma to win business in the United States, which accounts for more than half of its revenue.

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Uranium market freezes as tariff threats rattle would-be buyers – by Jacob Lorinc (Bloomberg News – March 31, 2025)

https://www.bnnbloomberg.ca/

The North American uranium market is grinding to a halt as U.S. nuclear-power companies spooked by U.S. President Donald Trump’s tariff threats slow purchases and delay new contracts.

U.S. utility purchases of the nuclear fuel dropped by half as the imposition of Trump’s 10 per cent levy on Canadian energy exports approaches, according the most-recent data from pricing firm TradeTech. Reactor operators who typically rely on term contracts are standing on the sidelines to see how the tariffs play out.

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Surat diamond workers threaten to go on strike from March 30 (Hindustan Times/MSN.com – March 29, 2025)

https://www.msn.com/en-in/

Ahmedabad: The diamond workers of Surat have threatened to go on an indefinite strike from March 30 if their demands are not met, including wage hike and higher price. The looming strike marks the peak of months of rising tensions in an industry that polishes 80% of the world’s diamonds but is now grappling with its worst crisis since 2008.

“We will take out a rally in Katargam area of Surat on Sunday before going on an indefinite strike if the government does not meet our demands by then. We expect at least 1.5 to 2 lakh workers to join us in the strike,” said Bhavesh Tank, vice-president of Diamond Workers Union Gujarat (DWUG) which has given the strike call.

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Multiple Dams Fail at Indonesian Nickel-Mining Facilities – by Ellen Moore (Earthworks.org – March 28, 2025)

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Three people are feared dead and hundreds more are at risk of negative health impacts after multiple tailings dams, which store toxic mine waste, collapsed inside an industrial park in Indonesia. According to media and worker testimony, on March 16, the PT Huayue Nickel Cobalt tailings storage facility was breached, and liquified tailings flowed into the Bahadopi River.

The breach flooded facilities at the Indonesia Morowali Industrial Park (IMIP) and the village of Labota with a wave of red water, putting the health of workers and 341 families at risk through exposure to heavy metals.

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