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Critical Minerals Are a US Headache, Not an Emergency – by Javier Blas (Bloomberg News – April 29, 2025)

https://www.advisorperspectives.com/

In the 1950s, the US was worried about the supply of mercury, because the liquid metal was key to power walkie-talkies during the Korean War. In the 1980s, analysts warned that mineral shortages to rival the OPEC oil shock could undermine the Cold War arsenal.

Today, the concern is about China cornering the market for lithium and cobalt, which are needed for high-capacity batteries. The panic over the years has inevitably influenced policy even if heeding cooler heads would offer reassurance. Which brings us to the current US administration.

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Unlocking investment in critical minerals in Kazakhstan – by Caroline Peachey (Mining Technology – April 29, 2025)

https://www.mining-technology.com/

Kazakhstan is looking to position itself as a key player in the global critical minerals supply chain, starting with battery materials.

Kazakhstan hosts substantial reserves of critical minerals including rare earth elements (REEs), copper, lithium, tungsten, tantalum as well as other materials essential for modern technologies and the energy transition.

Recognising the strategic importance of these resources, the Kazakh Government has introduced efforts to attract foreign investment and technological expertise to develop its critical minerals sector.

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Billionaire investor John Paulson sees gold near $5,000 by 2028 – by Ernest Scheyder (Reuters – April 29, 2025)

https://www.reuters.com/

Central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, billionaire investor John Paulson said in an interview during which he reinforced his commitment to US mining projects

The price forecast is one of the most bullish yet as banks and others move to increase their own estimates after gold hit a record high just above $3,500 last week. Deutsche Bank, for one, expects bullion to hit $3,700 an ounce by next year.

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Canadian gold miner Mandalay agrees to US$358-million takeover by smaller Australian competitor – by Niall McGee (Globe and Mail – April 29, 2025)

https://www.theglobeandmail.com/

Australia’s Alkane Resources Ltd. is buying Canada’s Mandalay Resources Corp. in a US$358-million transaction driven by the contention that bigger is better in the gold industry. Perth-based Alkane and Toronto-based Mandalay hope that, by combining operations, investors will reward the combined company with a “rerate” – a higher stock-market multiple.

Despite record-high bullion prices, many gold miners continue to have difficulty attracting investors. That’s partly owing to the industry’s poor track record, but also the ease at which investors can gain exposure to gold through exchange-traded funds.

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Gates, Bezos-backed critical minerals explorer to ‘go big’ on Congo – report – by Staff (Mining.com – April 27, 2025)

https://www.mining.com/

KoBold Metals, the mining startup backed by Bill Gates and Jeff Bezos, is expanding its footprint into the Democratic Republic of the Congo, with plans to invest billions into the African nation’s large endowment of resources, the Financial Times reported.

Benjamin Katabuka, the country’s newly appointed director general, told the British newspaper that KoBold is looking to “go big” in the DRC, currently the world’s biggest producer of cobalt and the leading copper producer on the continent.

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A respected figure on the Thunder Bay mining scene receives his due – by Staff (Northern Ontario Business – April 28, 2025)

https://www.northernontariobusiness.com/

John Mason is one of the four award recipients feted by Northwestern Ontario Prospectors Association

One of Thunder Bay’s best known “mining people” was recently honoured by his peers at the Northwestern Ontario Prospectors Association awards.Retired provincial geologist and city economic developer John Mason was named the recipient of the Dan Calvert Distinguished Service Award.

Mason was one of four recipients during the association’s annual awards ceremony at the Ontario Prospectors & Explorers Symposium on April 15 in Thunder Bay.

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Things to know about the US coal industry and proposed changes under the Trump administration – by John Raby and Leah Willingham (Associated Press – April 27, 2025)

https://apnews.com/

CHARLESTON, W.Va. (AP) — President Donald Trump’s administration has proposed several changes that would affect the struggling U.S. coal industry. Trump issued executive orders this month to allow mining on federal land.

He has used his emergency authority to allow some older coal-fired power plants set for retirement to keep producing electricity to meet the rising demand amid the growth in data centers, artificial intelligence and electric cars.

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Miners set to reap rewards of high gold prices but remain cautious on spending – by Ian Bickis (Canadian Press – April 25, 2025)

https://www.thecanadianpressnews.ca/

TORONTO – Record gold prices are translating into higher profits for Canadian producers and excitement about the potential for more growth, though miners remain cautious on spending. Agnico Eagle Mines Ltd. was among the first big producers to report results after a quarter that saw gold top US$3,000 an ounce, while this week it pushed to over US$3,500 an ounce for the first time on U.S. instability fears.

The higher prices led Agnico Eagle, one of the world’s biggest gold producers, to report record adjusted net income of US$770 million for the quarter ending March 31, up from US$377 million last year. “The gold price performance over the past year has been remarkable,” said chief executive Ammar Al-Joundi on an earnings call Friday.

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Barrick is cashing in on gold’s record rally with asset sales – by Jacob Lorinc (Bloomberg News – April 23, 2025)

https://www.bnnbloomberg.ca/

For Barrick Gold Corp., one of the world’s top bullion producers, the precious metal’s blistering rally to record prices is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining.

First, the company announced on Tuesday that it’s exiting an Alaskan mining project by selling its 50% stake to billionaire John Paulson and Novagold Resources Inc. for US$1 billion. Meanwhile, Barrick has also signalled more deals on the horizon as it seeks buyers for mines in Africa and North America.

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Will uranium ever get its day in the sun? – by Mark Wembridge and Elouise Fowler (Australian Financial Review – April 27, 2025)

https://www.afr.com/

It was one of the hottest trades of last year. Now the commodity has a new claim to fame – it dominates the list of most-shorted stocks on the ASX.

Uranium, one of the hottest trades of last year, has a new claim to fame, an unwanted one. Companies exploring or mining the commodity make up six of the 20-most-shorted stocks on the local bourse.

It is a big change from the bull market of 2023 and 2024, when demand for a new, emissions-free fuel source buoyed expectations that local uranium stocks would be big winners from the end of coal and gas generation. Opposition Leader Peter Dutton made nuclear the centrepiece of his energy policy; countries around the world scrambled to build new plants.

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Trump’s push to save the fading coal industry gets a warm embrace in West Virginia – by Leah Willingham and John Raby (Associated Press – April 27, 2025)

https://apnews.com/

FAYETTEVILLE, W.Va. (AP) — The winner of this year’s West Virginia Coal Festival teen beauty pageant walks among the ruins of a community abandoned 70 years ago and imagines the rusted remains of coal tipples and processing plants coming back to life.

Ava Johnson knows West Virginia coal will not ever be what it once was. But as she makes her way along overgrown railroad tracks near the abandoned Kay Moor mine in the New River Gorge National Park looking for spikes for her collection, the 16-year-old history buff says she has heard people talking with hope about the future of an industry that has brought good-paying jobs to her state for the better part of two centuries.

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Kitimat has seen it all – by Nancy Macdonald (Globe and Mail – April 25, 2025)

https://www.theglobeandmail.com/

In this northern B.C. port town, voters used to booms and busts are now caught between both at once

Kitimat’s construction boom is tapering off. The Help Wanted signs that used to decorate businesses are coming down. And hotel rooms in the northern B.C. port city are no longer packed with construction workers, as the process of building a new, $18-billion gas terminal winds down at the harbour.

But judging by the abundance of $80,000 pickup trucks, the local economy is still going gangbusters. Residents here have learned to be cautiously optimistic in the face of economic threat, and also restrained in their enthusiasm when things are looking up. Right now, they’re having to do both at the same time.

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Australia aims to become a critical minerals powerhouse – by Dylan Brown (Australian Mining – April 28, 2025)

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The Federal Government has announced plans to establish a Critical Minerals Strategic Reserve if re-elected, with plans to invest $1.2 billion into the initiative.

The Federal Government is aiming to bolster Australia’s economic resilience and national security, transitioning from a critical mineral supplier to a global market leader, strategically capitalising on the rising demand for rare earths, high-tech manufacturing materials and resources for the energy transition. Prime Minister Anthony Albanese said the Critical Minerals Strategic Reserve would help Australia unlock its full potential of critical minerals at a critical time in the economy.

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London environmentalists say Ontario’s mining push puts endangered species at risk – by Alessio Donnini (CBC News London – April 26, 2025)

https://www.cbc.ca/news/canada/london/

One environmentalist points to a 2021 audit that said Ontario should do more to protect wildlife

Environmentalists in London and across the province say the Ontario government’s push to cut so-called red tape to speed up the development of mining and construction projects could have dire consequences for endangered species.

Particularly concerning aspects of this push are moves that, according to researcher and environmental activist Brendon Samuels, weaken environmental protections in the name of short-term economic gain.

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As Pakistan bets on a mining boom, can it equal Indonesia’s nickel success? – by Tom Hussain (South China Morning Post – April 26, 2025)

https://www.scmp.com/

A landmark deal unlocking vast copper and gold reserves has Pakistan eyeing a transformative economic shift

Pakistan is poised to join the ranks of the world’s top producers of critical metals by the end of the decade, thanks to an April 8 deal between the government and Canadian mining giant Barrick Gold.

Together, they aim to unlock the vast potential of Reko Diq, home to the world’s largest known untapped deposits of copper and gold with near-term production potential. Chinese firms are already on the ground, Saudi Arabia is on the verge of investing, and the United States is clamouring for access to Pakistan’s mineral wealth.

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