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Reported by Mining.com – Saudi Arabia announced on Tuesday that it will negotiate a mining cooperation agreement with the United States. According to the Saudi Press Agency (SPA), the Cabinet, led by Crown Prince Mohammed bin Salman, has authorized the Ministry of Industry and Mineral Resources to draft a memorandum of understanding (MoU) with U.S. officials. The Cabinet stated that the proposed agreement, to be signed with the U.S. Department of Energy, will focus on mineral resources and mining cooperation. This move aligns with Saudi Arabia’s ambition to become a global hub for battery and electric vehicle (EV) manufacturing. As part of its Vision 2030 economic diversification strategy, the Kingdom is heavily investing in mining and industry to reduce its reliance on oil. Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, has announced multiple plans to import raw materials and utilize both domestic and international metals for battery production. Additionally, Saudi Arabia is seeking to expand its presence in the global mining market. In January, Saudi officials held preliminary talks with Chile’s state-owned Codelco on potential copper industry investments. The Kingdom also plans to increase copper imports from Chile for domestic processing. Through Manara Minerals Investment Co.—a joint venture between the Public Investment Fund (PIF) and Saudi Mining Company (Ma’aden)—the country is making strategic overseas investments. In 2023, Manara acquired a 10% stake in Vale’s base metals business, a $26 billion spin-off from the Brazilian mining giant. Currently, Saudi Arabia consumes about 365,000 tons of copper annually, a figure expected to more than double by 2035, with most demand met through imports. Domestically, the Kingdom has discovered significant mineral deposits over the past two decades, including gold, silver, copper, tin, tungsten, nickel, zinc, phosphates, and bauxite. Saudi Arabia is also exploring deep-sea mining in the Red Sea, with plans to process extracted minerals at the Yanbu Industrial City. According to the Ministry of Energy and Mineral Resources, the country has mapped 1,270 gemstone sites and 1,170 other mineral deposits, with a growing number of exploration and mining licenses being issued.     Source: https://geoglobal.mnr.gov.cn/zx/kczygl/zcdt/202505/t20250508_9327604.htm

Indonesia, the world's largest nickel producer, is considering raising its nickel and other mineral royalties paid by mining companies, the mining journal (Mining Journal) reported.   On March 10, Reuters reported that the Indonesian government would impose a 14-19 percent premium on nickel prices, with a unified tax rate of 10 percent.   There are also reports that Indonesia will impose a progressive tax on nickel and nickel.   On copper ore, the proposal proposes an increase from a 5% uniform tax to 10-17%, as well as copper concentrate and electrolytic copper.   At the same time, if coal prices exceed $90 a ton, the royalty tax rate will be raised by 1 percentage point to 13.5 percent.   The Indonesian government has imposed a progressive tax on coal, with a calorific value of 4,200 kcal / kg, and a minimum premium rate of 8% if the price exceeds $90 / ton.   The proposal also involved minerals including tin, gold, silver and platinum, but no details were given.   The change is reportedly in support of the president of Prabowo Subianto's big spending plan.   Article source: https://geoglobal.mnr.gov.cn/zx/kczygl/kysf/202503/t20250312_9272600.htm

Canada has extended its mineral exploration tax credit by two years as a measure to support exploration projects, energy and natural resources investments, Jonathan Wilkinson said on Sunday, citing Reuters.   The Mineral Exploration Tax Credit is a capital market tool that provides a 15% tax credit for investors who buy tradable shares in small mining companies. The policy expires on March 31.   Mr Wilkinson said the extension was intended to ensure that the mining industry had the tools to finance exploration projects. The measure is also a government's attempt to provide alternative sources of funding for businesses.   At present, Canadian mining enterprises are in financing difficulties, and the government is facing the challenge of overseas funds.   In an interview, Wilkinson said junior companies were eager to get funding and the extension was expected to provide C$111 million support for mineral exploration.   The measure will be announced at the Toronto Exploration Annual Conference (PDAC) on Sunday (March 9). PDAC is one of the world's largest mining conferences.   Mining companies in North America could face a trade war launched by U. S. President Donald Trump, who has threatened to impose a 25 percent tariff on most Canadian goods.   Mining companies will also face tight controls on key mineral exports. Wilkinson said Canada and the United States can mutually benefit, and Canada can provide the United States with the much-needed supply of gallium and germanium.   Mr Wilkinson said Canada and the US could sit down and talk seriously about how to help each other. If Mr.Trump insists on imposing tariffs on Canada and Mexico, Canada is ready to retaliate.   While Canada may not impose an export tax on metals in the first round of countermeasures, consider future taxes on Zinc, Copper and Nickel.   "This may not be the first step, but it is certainly a measure in the Canadian policy box. We are not going right now."   Article source: https://geoglobal.mnr.gov.cn/zx/kczygl/zcdt/202503/t20250304_9265792.htm

British prime minister Stammer said Monday the proposed key mineral deal with Ukraine was not enough to be a security guarantee in any peace plan, Mining.com reported, citing Bloomberg News Agency. This clearly shows that the European leaders intend to persuade the United States to provide stronger defensive support.   The US plans to take some of the proceeds from Ukraine's natural resources to supplement its military support for the latter, a deal that was not signed after Trump's public row with Zelensky on February 28. At the time, Zelensky said he did not think the agreement planned to sign would bring peace, infuriating Trump and Vice President Vance, but Stammer appeared to have the same view on Monday.   "A mining agreement alone is not enough," the British prime minister said in the House of Commons. He said the United States was "crucial" to achieving peace in Ukraine.   The Trump administration is now trying to strike a peace deal with Russia, and Stammer wants to act as a bridge between Britain's European ally and the United States on Ukraine. European countries, including Britain and France, are drafting their own peace plans for Ukraine, presented to Trump in the coming weeks. It depends on whether the United States provides air reconnaissance, surveillance and cover as a last resort to assist European peacekeepers when attacked by Russian forces after the peace agreement is signed.   On Monday, Trump criticized Zelensky and Europe on the "real social" platform, accusing the Ukrainian leader of not wanting peace and suggesting that Europe was unwise that "they could not do it without America."   Last week, Mr.Trump was delighted at the invitation of King Charles III during his first meeting after he reentered the White House. After Zelensky's disastrous talks with Trump and Vance at the White House, Stammer spoke with Trump twice in two days.   Mr Trump claimed that key mineral sharing agreements were enough to provide security because of the presence of American workers in Ukraine. But Stamer said on Monday that continued U. S. support is necessary while European countries increase defense spending.   "We see clearly that we are facing the test of our times, that we are at a crossroads in history," Stammer told members after a weekend diplomatic event in London.   "We are once again living in a time when European peace depends on strength and deterrence," Stammer said, highlighting the prime minister's determination to strive for a voice in Ukraine and the future of Europe.   Stamer also stressed that sanctions against Russia cannot be lifted if a ceasefire is reached.   He added that while other European countries have expressed their willingness to join the so-called "comfort force" (Reassurance force) composed of British and French air forces and troops in Ukraine, not all countries "take the same position" on the issue.   Stamer said details of the peace plan were still being developed and "no guarantee of success".   He also believes that transatlantic Allies need to do more to make billions of dollars of frozen Russian assets is "complex".     Article source: https://geoglobal.mnr.gov.cn/zx/kczygl/zcdt/202503/t20250305_9267097.htm

According to BNAmericas website, the Chilean Ministry of Mines has announced the 2025-26 tailings agenda, proposing legislative amendments to upgrade domestic standards to international standards and conducting registration to identify important tailings.   This agenda aims to strengthen tailings management in the country. According to data from the Chilean Geological Survey (Sernageomin), out of 795 tailings ponds, 475 are idle and 176 are abandoned.   The plan solicited opinions from both the public and private sectors. One key goal is to develop guidelines and modernize the regulatory system. The current laws regarding the design, construction, and operation of tailings facilities were enacted in 2007. This strategy lists three tasks:   ——Strengthen the inspection, filing, and visualization of tailings data, and consider developing a comprehensive information platform for this purpose;   ——Contact the owners of tailings dams, encourage the relocation and restoration of tailings, and promote feasibility studies, environmental impact assessments, and relocation pilot projects;   ——Implement tailings resource utilization projects to promote the redevelopment and reuse of tailings, extracting elements such as copper, iron, titanium, cobalt, and rare earths from them.   At the end of next year, the Chilean government will release a technical guide to guide tailings reuse projects and provide financing tools or encourage related suggestions.   Chilean Mining Minister Aurora Williams encourages the industry to implement these measures.   According to Sernageomin's data, there are currently 15 tailings dams under construction. This includes Codelco's Salvador copper mine, Enami's Matta beneficiation plant, and Minera Gold's Salares Norte project.   Sociedad Punta del Cobre is expanding the El Espino tailings pond in the Coquimbo region, while Mantos Copper is constructing a tailings dam for the Mantoverde project in the Atacama region.       Original source: https://geoglobal.mnr.gov.cn/zx/kczygl/zcdt/202502/t20250206_9244402.htm

According to MiningWeekly, international mining giant Rio Tinto announced a decline in production at its iron mines in the Pilbara region for the fourth quarter and full year of 2024, due to resource depletion and unusually heavy rainfall. The increase in productivity has not fully offset these impacts.   Rio Tinto's fourth quarter and full year iron ore production were 74.2 million tons and 284.6 million tons, respectively, with a decrease of 1%.   On the contrary, the copper production situation is completely different. Due to the increase in production at the Oyu Tolgoi underground copper mine in Mongolia and the Escondida copper mine in Chile, offsetting the impact of production interruptions caused by unstable slopes at the Kennecott copper mine in the United States, the company's production has significantly increased.   The copper production in the fourth quarter was 202000 tons, a year-on-year increase of 26%; The annual output was 697000 tons, an increase of 13%.   The company's bauxite production has increased, with a slight increase in aluminum products.     Original source:https://www.worldmr.net/Industry/IndustryList/Info/2025-01-20/308290.shtml

According to the official website of the Peruvian Ministry of Mines (MINEM), it has recently announced that 11 large-scale mining projects are expected to enter the construction phase between 2025 and 2026, including the Reposici ó n Antamina, Corani, Reposici ó n Raura, Reposici ó n Tantahuatay, Chalcobamba Fase I, Ampliaci ó n Huanapet í, Romina, and Tiamaria projects. The Zapranal project, the Pampa de Pongo project, and the Trapiche project.   Jorge Montero Cornejo, the Minister of Energy and Mines of Peru, stated that 11 mining projects are expected to have a total investment of over 8 billion US dollars, located in the regions of Á ncash, Puno, Hu á nuco, Cajamarca, Apur í mac, Lima, and Arequipa.   Minister Cornejo stated that achieving the goal requires the efforts of all Peruvians; Peru is a mining powerhouse with a thousand year history of precious metal production, which can be traced back to the origin of civilization; Nowadays, Peru has become one of the major producers of mineral products worldwide and an attractive country for mining investors. Minister Cornejo pointed out that the mining industry is an activity that promotes national development and helps drive progress, enabling millions of Peruvians to access basic services such as water, sanitation, education, and opportunities that any Peruvian citizen is entitled to. The Peruvian Ministry of Energy and Mines will promote exploration investment to find new resources that can supply the global market; Nowadays, the energy transition driven by large economies has led to a high demand for minerals in the global market. It emphasizes that increasing exploration investment can increase new reserves of zinc, lead, and lithium, which will help consolidate Peru's position as a producer of polymetallic minerals. Minister Corneho stated that he hopes to help revitalize projects that bring benefits to the country and firmly believes that mining is the engine of economic development and a provider of important projects.   Original source:https://www.worldmr.net/Industry/IndustryList/Info/2025-01-16/308203.shtml

On August 12, South African gold developer Gold Fields Limited announced that it had reached a definitive agreement with Canadian TSX-listed company Osisko Mining to acquire all of Osisko's common shares for CAD 2.16 billion (approximately USD 1.57 billion). This acquisition would give Gold Fields full ownership of the Windfall Gold Project in Quebec, which is currently equally co-owned by both companies.   This acquisition represents the latest move in diversifying the Johannesburg-headquartered company's operations outside its home country. Two years ago, Gold Fields attempted to acquire another Canadian gold mining company, Yamana Gold, but was unsuccessful.     About Gold Fields Limited Gold Fields is a globally diversified gold producer with nine mines in Australia, South Africa, Ghana, Chile, and Peru, and one project in Canada. In 2023, the company's total annual gold equivalent production was 2.3 million ounces (71.5 tons). It has gold ore reserves of 46.1 million ounces (1,434 tons), proven and probable gold mineral reserves of 46.1Moz, measured and indicated gold mineral resources (excluding ore reserves) of 31.1 million ounces (967 tons), and inferred gold mineral resources of 11.2 million ounces (348 tons).   About Osisko Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource assets in Canada. Osisko holds a 50% interest in the high-grade Windfall Gold Project located between Val-d'Or and Chibougamau in Quebec and a 50% interest in large land packages in the surrounding Urban Barry area and nearby Quévillon region.   Transaction Overview Gold Fields has agreed to acquire Osisko's shares for CAD 4.90 per share in an all-cash deal. This offer values Osisko's fully diluted equity at approximately CAD 2.16 billion (USD 1.57 billion), with an enterprise value of CAD 1.48 billion (USD 1.08 billion), representing a 55% premium to Osisko's 20-day volume-weighted average trading price.   Upon completion of the transaction, Gold Fields will consolidate Osisko's 50% partnership interest, obtaining full ownership and control of the Windfall Project and its entire exploration area. This will eliminate Gold Fields' existing CAD 300 million deferred cash payment and CAD 75 million exploration obligation, which were part of the Windfall joint venture agreement reached with Osisko in May 2023. At that time, Gold Fields paid CAD 60 million to acquire a 50% stake in the Windfall Project and established a joint venture with Osisko. The increased transaction price is influenced by multiple factors, including rising gold prices, increased investment, an additional 160,000 meters of drilling, and the inclusion of the Bonterra project, which is expected to add more resources through joint venture earning.     The transaction requires approval from at least two-thirds of the votes cast at Osisko's shareholder meeting and a simple majority of votes from Osisko shareholders (excluding certain related parties). The shareholder meeting is expected to take place in October 2024. The boards of both companies have unanimously approved and support the transaction, with Osisko's board recommending that shareholders vote in favor.   The arrangement agreement contains customary deal protection provisions, including a non-solicitation covenant by Osisko and a fiduciary out provision in favor of Osisko. Additionally, the agreement provides for a CAD 108 million termination fee payable by Osisko if it accepts a superior proposal or in certain other circumstances. Both Osisko and the acquirer have made customary representations, warranties, and covenants in the arrangement agreement, including covenants regarding Osisko's conduct of business prior to closing.   The transaction will be implemented through a Canadian plan of arrangement. If it receives Osisko shareholder approval and all required regulatory and court approvals, it is expected to close in the fourth quarter of 2024.     Gold Fields CEO Mike Fraser welcomed the deal: "We are delighted to consolidate the remaining 50% interest in Windfall and its highly prospective exploration area. Deposits of this scale and quality, combined with a highly promising exploration zone, are exceptionally rare. Since May 2023, we have co-owned this project and conducted prior due diligence, gaining a deep understanding of Windfall and its potential, and we view it as the next long-life cornerstone asset in our portfolio. This acquisition aligns with our strategy to enhance portfolio quality by investing in high-quality, long-life assets like Windfall. It provides us with an opportunity to solidify our presence in Quebec (a Tier 1 mining jurisdiction) and leverage our expertise in greenfield exploration, project development, and underground mining."   Osisko CEO John Burzynski commented: "This premium transaction represents strong short-term returns for our shareholders and reflects the truly world-class nature of the Windfall Project. Over the course of nine years, we have developed Windfall into one of the largest and highest-grade gold development projects globally, and this transaction validates the extraordinary entrepreneurial spirit of the Osisko team. Gold Fields is a globally diversified senior gold producer with an impressive track record of successfully building and operating mines. As our joint venture partner at Windfall, Gold Fields has a deep understanding of this asset and recognizes the importance of the strong relationships we have established with all stakeholders in Quebec. Additionally, Gold Fields shares our core values of operating in a safe, inclusive, and socially responsible manner. They are well-positioned to bring Windfall into production, and we wish them every success in the future."

Afghanistan's 10 Million-Ton Giant Copper Mine Restarts Reuters, July 26 - The highly anticipated Mes Aynak copper mine project in central-eastern Afghanistan is set to restart, according to Afghan Foreign Ministry spokesman Homayoon Afghan. Mes Aynak is one of the world's largest undeveloped copper mines, containing over 10 million tons of copper. The project is expected to generate hundreds of millions of dollars in annual revenue for Afghanistan. Previously, the project had been stalled due to a range of complex issues, making its restart highly significant.   Australia Plans to Revise Mineral Resource Reporting Standards to Strengthen Domestic Exploration Market Management Bloomberg, August 1 - The Australian government has announced plans to amend the JORC Code (Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves) to further regulate the domestic exploration market and strengthen the management of mineral resource reporting. The draft of the new code will introduce additional environmental requirements and mandate that resource estimates for proposed mines be validated by qualified experts before becoming effective. Once approved, the revised code will apply to all locally listed companies. The JORC Code, one of the most recognized reporting standards in the international mining market, was developed by the Joint Ore Reserves Committee, comprising the Australasian Institute of Mining and Metallurgy, the Australian Institute of Geoscientists, and the Minerals Council of Australia. The code, which covers exploration results, mineral resources, and ore reserves of solid minerals, was first published in 1989 and was last updated a decade ago.   Brazil Launches Key Mineral Resource Potential Assessment Program BNAmericas, July 29 - The Brazilian Geological Survey (SGB) has launched an initiative to explore the country's critical mineral potential. The program, named the Key Mineral Resource Potential Project, will utilize 3D magnetic inversion and machine learning technologies to assess key mineral resources in various regions of Brazil, including Upper Floresta in Mato Grosso, Tapajós in Pará, and Araçuaí in Minas Gerais. The SGB plans to reprocess previously published 500-meter interval aeromagnetic survey results using 3D inversion and machine learning, aiming to complete eight 1:100,000 scale maps each month. This initiative is expected to be a significant step towards diversifying Brazil's mining industry.  

After a week of turbulence and decline, the gold and silver markets have finally turned around. According to the latest market data, COMEX gold and silver prices both showed significant rebounds on Tuesday, July 30, bringing new hope to investors.   Significant Gains for Gold and Silver Specifically, COMEX gold prices rose by 1.26% to close at $2,456 per ounce. This increase not only halted the previous downward trend but also indicated a gradual recovery in market confidence. Meanwhile, COMEX silver prices performed even better, with a rise of 2.38%, closing at $28.53 per ounce, showing stronger rebound momentum. In night trading, gold and silver prices continued to rise, with gold up by 0.77% and silver up by 2.18%, further consolidating the day's gains.   Market Sentiment and Factors Driving the Rebound Last week, gold and silver prices were under pressure from various factors, including the fading of interest rate cut expectations and a widespread risk-averse sentiment, leading to noticeable price drops. As market sentiment gradually stabilizes and negative factors are digested, investor expectations for the gold and silver markets have started to warm up. This shift is reflected not only in the price rebound but also in the gradual recovery of market confidence and the stabilization of trading activities.   The current rebound in gold and silver prices is mainly due to expectations of global economic recovery, heightened geopolitical risks, and technical support factors.   Firstly, optimistic expectations for global economic recovery continue to support precious metals like gold and silver. Although interest rate cut expectations have diminished, global monetary easing policies are likely to persist, helping to maintain stable gold and silver prices.   Secondly, increasing geopolitical risks have also provided upward momentum for gold and silver prices. The international turmoil has led investors to seek relatively safer assets, with precious metals like gold and silver being highly favored for their safe-haven attributes. This increased demand for safety has directly driven up gold and silver prices.   Additionally, technical factors have also played a role in the price rebound. After a period of decline, gold and silver prices have reached relatively low levels, with technical overselling providing an opportunity for a rebound. Moreover, some investors are taking this chance to bottom-fish, further driving up prices.   Looking ahead, the outlook for gold and silver prices remains cautiously optimistic. As global economic recovery continues and monetary easing policies persist, precious metals are likely to retain their appeal as safe-haven assets. Investors will be closely watching economic indicators and central bank policies for further guidance. With the recent rebound, market participants can hope for a more stable and potentially upward trend in the gold and silver markets.