The Mining Insider

Today on The Mining Insider: Argentina's government approved two major mining projects under its RIGI large-investment incentive program on Thursday. The Cauchari-Olaroz lithium expansion, backed by China's Ganfeng Lithium Group and Lithium Argentina AG, will invest $1.24 billion to add 45,000 tonnes per year of lithium carbonate equivalent capacity. The San Jorge copper project in Mendoza will in...

Today on The Mining Insider: Agnico Eagle has announced a C$14 billion (~US$10 billion) investment in Ontario gold operations by 2030, including C$2 billion for the Detour Lake underground expansion and the Upper Beaver gold-copper project. It is one of the largest private sector mining capital commitments in Ontario's history. The Metals Company signed a commercial agreement with Dutch offshore c...

Today on The Mining Insider: The April Consumer Price Index came in at 3.8 percent year-over-year — one tenth above consensus — driven by energy costs surging 17.9 percent annually. Gold fell below $4,700 an ounce after the release and Fed rate hike odds climbed to roughly 30 percent by year-end per CME Group. For miners, the print confirms input cost pressures are not easing. Copper briefly touch...

Today on The Mining Insider: Fertilizer giant Mosaic has pulled nearly two million tonnes of US phosphate production off the market and withdrawn its full-year output forecast, citing runaway input costs driven by the ongoing closure of the Strait of Hormuz. The company posted a Q1 net loss of $258 million — well below the $71.5 million profit analysts had expected. Meanwhile, the US Bureau of Lab...

Today on The Mining Insider: Barrick Mining released Q1 2026 results before market open — one of its strongest quarters on record. Gold production of 719,000 oz beat guidance of 640,000–680,000 oz by 5.7%. Three drivers: Nevada Gold Mines strong underground performance, Veladero higher throughput/grades, and Loulo-Gounkoto in Mali ramping faster than guided. Revenue $5.22B (+67% YoY). Adjusted EPS...

Today on The Mining Insider: The week ended with Iran still reviewing a 14-point US peace proposal submitted through Pakistani intermediaries. Trump said Friday the conflict "is not over yet" and the US Navy fired on Iranian ships attempting to breach the Hormuz blockade, pushing oil prices higher. Gold closed above $4,700/oz and silver above $80/troy oz. For miners, the equation is direct: Hormuz...

Today on The Mining Insider: PT Freeport Indonesia has confirmed the full restart of the Grasberg Block Cave copper mine in Central Papua has been pushed to early 2028 — a full year later than prior guidance. Operations are currently running at 40-50% of capacity. The company is targeting 65% in H2 2026, 80% by mid-2027, near-full by end-2027, and full capacity in early 2028. 2026 copper guidance...

Today on The Mining Insider: Cornish Metals has closed a $210 million Nordic bond offering to fund construction of South Crofty in Cornwall, England — the highest-grade undeveloped tin deposit in the world. The six-year bonds carry a 13.5% fixed coupon and were significantly oversubscribed. CEO Don Turvey says the company expects to be fully funded and to announce a final investment decision this...

Today on The Mining Insider: Ivanhoe Mines released its Q1 2026 financial results after market close on Wednesday. Kamoa-Kakula delivered $862 million in revenue and $397 million in EBITDA — a 46% EBITDA margin — and beat the low end of its C1 cash cost guidance at $2.58 per pound, compared with guidance of $2.60 to $3.00. The headline net loss of $2 million was driven entirely by a $183 million D...

Today on The Mining Insider: Sibanye-Stillwater launched tender offers on May 6 to retire all $675 million outstanding of its 4% senior notes due 2026 — a full any-and-all offer — and up to $75 million of its 4.5% notes due 2029 at $962.50 per $1,000, funded by a new dollar-denominated bond issuance. The 2026 notes are set to settle May 15. The move is part of Sibanye's multi-year restructuring fo...

Today on The Mining Insider: Regis Resources and Vault Minerals announced a 100% all-scrip merger creating a combined company with a pro forma market cap of approximately A$10.7 billion (US$7.67 billion) — Australia's third-largest primary ASX-listed gold producer. The merged group will produce over 700,000 ounces per year from five Western Australian assets, entering life debt-free with A$1.9 bil...

Today on The Mining Insider: The Asian Development Bank launched its Critical Minerals-to-Manufacturing Financing Partnership Facility at its 59th annual meeting in Samarkand on May 3. Korea Eximbank and the Korean Trade Insurance Corporation (K-SURE) each signed $500 million memoranda as founding partners, alongside $20 million from Japan and $1.6 million from the UK as seed grants. ADB President...

Today on The Mining Insider: Work on the IPO of Navoi Mining and Metallurgical Company — Uzbekistan's state-owned gold miner and the world's fourth-largest gold producer — has been paused, with the Uzbek government weighing the right moment to list. The company produced 3.2 million ounces of gold in 2025, with revenue of $10.8 billion and pre-tax profit of $6.1 billion. Separately, a structural mi...

Today on The Mining Insider: Mercuria Energy Group and Heeney Capital announced May 1 that they had secured White House-backed offtake agreements for Venezuelan bulk commodities and gold, projected to generate $2.2 billion in annual mineral export value — with aluminum, nickel, and ferrous metals negotiations ongoing that could add another $3 billion. NOAA certified on May 1 that TMC the Metals Co...

Today on The Mining Insider: China's ban on sulphuric acid exports takes effect today, May 1 — a structural disruption that threatens roughly a fifth of Chile's copper output and has pushed Copperbelt acid prices near all-time highs of $700 to $800 per tonne in the DRC. First Quantum Minerals reported Q1 2026 results on April 28, posting a net loss of $196 million as Sentinel and Kansanshi both ca...

Today on The Mining Insider: First Quantum Minerals released its first quarter 2026 financial and operating results on April 28, with Sentinel's ball mill constraints remaining a drag and Kansanshi's S3 expansion continuing its ramp. Separately, Fortescue is moving toward a long-term iron ore supply deal with China Mineral Resources Group following BHP's recent settlement. In the Democratic Republ...

China's CMOC Group signed a $1.7 billion mining contract with Ecuador on April 27 for the Los Cangrejos gold-silver project in El Oro province, developed through local subsidiary ODIN Mining del Ecuador. Structure: state receives 50% of project value; $54M advance royalties ($34M on signing, balance at construction milestones). Projected state revenues: $4.39B. Ecuador's only two large-scale opera...

Brazil's Rede Sustentabilidade party petitioned the country's Supreme Court on April 25 to suspend the $2.8 billion acquisition of Serra Verde Group by USA Rare Earth Inc. (NASDAQ: USAR). The party argued Brazilian legislation lacks constitutional safeguards over strategic mineral assets. Serra Verde's Pela Ema operation in Goiás produces ~100 metric tons of rare earth oxides/year, targeting 6,400...

The 830-kilometer Lobito Corridor railway — the biggest new build in Zambia since the 1970s — secured $1.32 billion in committed financing at a Nairobi conference on April 24. Africa Finance Corp. ($500M), African Development Bank ($500M), and Italy ($320M) committed the funds. Total project cost is up to $5 billion. EPC bids are due in May, contractor selection targeted by July-August, groundbrea...

The United States and European Union formalized the US-EU Action Plan for Critical Minerals Supply Chain Resilience on April 24, announced by US Trade Representative Jamieson Greer and EU Trade Commissioner Maros Sefcovic. The plan establishes border-adjusted price floors as the primary trade mechanism to prevent Chinese producers from undercutting allied producers in rare earths, battery material...

Freeport-McMoRan reported Q1 2026 earnings Thursday, beating profit estimates but shocking the market with a significant downgrade to the Grasberg mine ramp-up timeline. After last September's fatal mud-rush, the company now expects the world's second-largest copper mine to reach only 65% of capacity in the second half of 2026 — down from the 85% target outlined in January. Full recovery is pushed...

Newmont's Record Quarter, Ghana's New Gold Royalty, and Copper Holds Above $6 Newmont Q1 2026: record net income $3.3B, FCF $3.1B, avg realized gold $4,900/oz, AISC $1,029/oz, production 1.30M oz (down 16% YoY due to Australian bushfires/rainfall + planned maintenance), $6B buyback authorized, full-year guidance maintained at 5.26M oz. CEO Natascha Viljoen: "all-time record $3.1 billion in quarter...

USA Rare Earth acquires Serra Verde (Brazil) for $2.8B — only non-Asia producer of all 4 magnetic REEs; DFC-backed; 15-year US government offtake. BHP nine-month review: records at Escondida + WAIO, copper guidance lifted, Brandon Craig to replace Mike Henry as CEO, Queensland coal review. Peru election: Fujimori in runoff, 14,000-ballot gap for second slot.

Argentine court 30-day injunction halts Vicuña copper project (Filo Corp/BHP). Project Vault $12B critical minerals facility nears first tranche close. Silver at $79.52/oz; Sunshine Silver weighing $400M IPO for Idaho's Silver Valley mine.

Uranium Royalty Corp acquires Sweetwater Royalties — $1.1B deal. Chinalco Toromocho $1.7B overhaul approved by Peru — 45% throughput increase. DRC acid shortage — copper and cobalt miners cutting chemical use as Iran war disrupts leaching reagent supply.