China Y&X Beijing Technology Co., Ltd. Company News

According to Mining.com, the combined market capitalization of the world's 50 largest mining companies reached nearly $1.97 trillion by the end of the third quarter, a year-to-date increase of nearly $700 billion, with most of the gains occurring in the third quarter. The total market capitalization of these mining companies has now surpassed the previous record set three years ago. The ranking of the largest mining companies has also shifted during this period. A trend that has persisted in the global mining sector for over a decade has finally broken through mainstream attention: critical minerals have suddenly become a hot topic of discussion for everyone from the US president to taxi drivers. The weak US dollar is the primary reason—the rankings are based on the company's market capitalization in the local currency of its listed exchange, which is then converted to US dollars at the exchange rate. The surge in precious metal prices, including a broad rebound in platinum group metals, is the primary driver. However, despite gains of over 60% for platinum group metals, this was not enough to propel producers back into the top 50. The top performers were mostly gold and silver companies, with Coeur Mining's share price surging an astonishing sixfold thanks to its well-timed acquisition of a Mexican silver mine. Meanwhile, Fresnillo, a London-listed silver company controlled by Mexico's Peñoles, saw its share price surge 305%. In addition to gold and silver, rare earths have also been a strong performer. Perth-based Lynas Rare Earth climbed to 49th place after its share price surged 280%. Las Vegas-based Mountain Pass Materials (MPM) saw its share price surge in the second quarter following a breakthrough agreement with the Pentagon. The company's market capitalization has now increased by 500%. Source: https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202510/t20251017_10025014.htm

According to Mining Weekly, data from Melbourne-based consulting firm Surbiton Associates (SA) shows that Australia’s mine gold production for the 2024/25 financial year reached 300 tonnes, hitting a two-year high, though still below the record 328 tonnes achieved in the 1999/2000 financial year.   In the second quarter of 2025, production reached 76 tonnes, a quarter-on-quarter increase of 3 tonnes, or 4%, reflecting steady growth in the industry. At a gold price of A$5,200 per ounce, the annual output value slightly exceeded A$50 billion, making gold Australia’s fourth-largest export commodity, behind iron ore, coal, and liquefied natural gas.   "Australia’s gold mining industry is efficient, highly productive, and critically important," said Dr. Sandra Close, Director of SA. "Gold exports are worth almost half the combined export value of Australia’s agricultural, forestry, and fishery products. Unfortunately, this is poorly understood by many politicians and most of the public."   Global uncertainties, including tensions in the Middle East and the Russia-Ukraine conflict, as well as the radical policies of U.S. President Trump, have continued to drive up the U.S. dollar-denominated gold price. This has led to an even larger increase in the Australian dollar gold price, despite the strength of the Australian dollar.   The practice of blending stockpiled low-grade ore with newly mined ore has somewhat restrained production growth, with this ratio just exceeding 15% in the second quarter. This approach helps extend mine life and optimizes resource utilization.   Foreign control over Australia’s gold mines has varied over time. In 1997, foreign companies controlled 20% of Australia’s gold production, peaking at 70% by the end of 2002. Currently, foreign control stands at approximately 45%. This proportion is expected to rise following the completion of South African Gold Fields’ A$3.7 billion acquisition of Gold Road Resources in late September.   This acquisition involves the Gruyere gold mine, located 200 kilometers east of Laverton, which was discovered by Gold Road in 2013. Gold Fields acquired a 50% stake in the mine in 2016 for A$350 million. Mine construction was completed in 2019 at a cost of A$621 million, with production for the 2024/25 financial year reaching 305,000 ounces. The open pit is expected to reach a depth of at least 500 meters, making it one of Australia’s deepest open-pit mines.   "Although Australian entities control 55% of gold mines overall, their ownership of the top five gold mines in the 2024/25 financial year was only 24%," Close noted. "This truly highlights the dominance of overseas companies over our largest gold producers."   In the 2024/25 financial year, Australia’s top gold mine was Newmont’s Boddington, with production of 574,000 ounces. It was followed by the Tropicana mine (AngloGold Ashanti 70%, Regis Resources 30%) with 466,100 ounces, Newmont’s Cadia mine with 432,000 ounces, Northern Star’s Super Pit with 405,400 ounces, and Newmont’s Tanami mine with 387,000 ounces.   In the second quarter, Boddington remained Australia’s largest gold-producing mine, with output of 147,000 ounces. It was followed by the Super Pit (117,400 ounces), Cadia (104,000 ounces), Gold Fields’ St Ives (99,200 ounces), and Tropicana (93,800 ounces).     Article Source: https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202509/t20250902_9974529.htm

According to MiningNews.net, the Russian Ministry of Industry and Trade announced on August 12 that, in accordance with the industrial development plan adopted in March, Russia aims to increase its annual production of "Large-tonnage rare metals" (LARM) to 50,000 tons by 2030.   LARM is a term used by Russia to describe various critical minerals, including lithium, tungsten, molybdenum, niobium, and zirconium.   The Russian Ministry of Industry and Trade stated that the government’s so-called "Low-tonnage rare metals" (LORM) include tantalum, beryllium, germanium, gallium, and hafnium, with a target production of 80 tons by 2030. In 2024, Russia hardly produces these minerals.   Under this plan, the Russian government aims to build domestic processing capacity to produce refined products for the domestic market.   On July 2, Russian Minister of Industry and Trade Anton Alikhanov announced at a meeting of the Federation Council of the Parliament that the government is collaborating with investors to promote 20 projects in the field of critical minerals and rare earth metals.   The ministry is screening projects eligible for state support, including direct subsidies for research and development activities, low-interest soft loans, and reduced import and export tariffs. According to the industrial development plan, Russia intends to allocate 60 billion rubles ($744 million) from the federal budget to support several projects in this sector. Currently, there is no consensus on the scale or feasibility standards of Russia’s critical mineral deposits.   In 2024, the Russian Federal Subsoil Resources Management Agency (Rosnedra) estimated that the country’s reserves of critical minerals and rare earth metals amount to approximately 28.8 million tons, ranking second in the world.   However, the U.S. Geological Survey (USGS) estimated that Russia’s rare earth mineral reserves in 2023 were only 1 million tons, ranking fourth after China, Vietnam, and Brazil.   In recent years, all rare earth projects approved in Russia have stalled, as most deposits are unprofitable to mine at current market prices.   For example, the Russian state-owned enterprise Rostec and its partners won a bid in 2014 for the Tomtorskoye project in Yakutia, northern Siberia. The project is considered one of the world’s largest rare earth deposits, with reserves of nearly 3.2 million tons, and was originally scheduled to commence production in 2019 or 2020.   However, Rostec withdrew from the project in 2019, and its future has remained uncertain ever since.   Another attempt to start rare earth production in Russia was made by fertilizer manufacturer Acron Group, which began extracting rare earth metal oxides from apatite-nepheline ore in the Murmansk region in 2016. This investment, estimated at $50 million, failed, and the plant ceased operations in 2021 due to low profitability.   Strategic Significance   Observers remain skeptical about whether Russia can expand rare earth metal production as planned.   "From a purely economic perspective, mining rare earth deposits in Russia makes no sense," said an anonymous source in the Russian mining industry. "This plan exists because, under the current geopolitical circumstances, we [Russia] do not want to rely on imports of these critical raw materials, even if they come from friendly countries."   "It can be argued that Russia continues rare earth production precisely because these minerals are of strategic importance to the national economy," the source added.   "One of the key issues in Russia’s rare earth metal industry is the lack of necessary technology," explained Igor Yushkov, a senior analyst at the National Energy Security Fund and an expert at the Russian Financial University. "Given the sanctions, Russia essentially needs to develop almost all the equipment required for mining and processing rare earth metals."   As a result, the cost of rare earth production in Russia is expected to rise further, Yushkov noted. While the state assistance promised under the recent industrial development plan may provide some support, it does not guarantee long-term profitability.   Yushkov believes that former U.S. President Donald Trump’s interest in rare earths could impact Russia’s rare earth industry. In February, Russian President Vladimir Putin suggested that the United States might be interested in exploring joint rare earth metal deposit exploration in Russia.   Yushkov pointed out, "A U.S. withdrawal of sanctions on the transfer of rare earth mining technology and permission for American companies to invest in rare earth deposits could facilitate the rapid development of Russia’s rare earth metal industry."     Article Source: https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202508/t20250827_9966973.htm

According to Mining.com, Lundin Gold has intersected high-grade mineralization in drilling at its Fruta del Norte (FDN) mine, located 400 kilometers southeast of Quito, Ecuador. The most significant intercept was 9 meters grading nearly 140 g/t gold.   Drill hole FDN-C25-238, targeting the Fruta del Norte South (FDNS) deposit, intersected mineralization at 62.2 meters depth. In addition to the high-grade intercept, the hole also revealed: 11.5 meters at 28.62 g/t gold 9.45 meters at 9.77 g/t gold Another hole, FDN-C25-245, encountered 9.8 meters at 43.77 g/t gold at 102.7 meters depth.   Ron Hochstein, President and CEO of Lundin Gold, stated in a press release: "Ongoing resource upgrade drilling at FDNS continues to intersect high-grade mineralization beyond the current inferred resource boundary, along a newly discovered vein structure." "Recent drilling at Fruta del Norte East (FDNE) continues to demonstrate its significant exploration potential, located adjacent to our existing underground workings." Extending Mine Life These results are part of the company’s near-mine exploration strategy, aimed at extending FDN’s 12-year mine life through resource expansion, new discoveries, and upgrading inferred resources to indicated status. Ongoing engineering studies aim to integrate FDNS into FDN’s long-term mine plan next year.   Exploration efforts over the past three years have significantly increased resources and led to new discoveries. FDN, which began production in 2020, achieved a record output of 502,029 ounces of gold last year, making it one of Ecuador’s two large-scale commercial mines. Additional High-Grade Intercepts at FDNS Another notable intercept at FDNS was 8.1 meters at 31.63 g/t gold at 38.6 meters depth. The resource upgrade drilling has confirmed continuity of the FDNS mineralization, while high-grade intercepts outside the current geological model suggest strong potential for further resource growth. Growth Potential at FDNE At Fruta del Norte East (FDNE), drill hole UGE-E-25-207 intersected 10 meters at 6.61 g/t gold at 497 meters depth. Recent drilling has expanded FDNE’s northern extension, highlighting additional areas for growth. 2024 Drilling Program This year’s drilling program includes at least 108,000 meters, with 83,000 meters dedicated to exploration and 25,000 meters for resource upgrades. The company currently has 10 rigs operating on site. FDNS Deposit Overview FDNS is an epithermal vein system with an estimated inferred resource of: 12.4 million tonnes 5.25 g/t gold 2.09 million ounces of gold       Source: https://geoglobal.mnr.gov.cn/zx/kcykf/ztjz/202508/t20250807_9944985.htm

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