August saw strong investment into mining projects, continued momentum in copper development, increasing government support for critical minerals and growing emphasis on energy security, supply chain resilience and project delivery.
Major Projects
- FireFly raises A$180m for Green Bay FireFly Metals plans to raise A$180 million to advance its Green Bay copper-gold project in Canada following a positive economic assessment and resource update.
- US prepares $1.1bn financing for Ivanhoe Electric Ivanhoe Electric is nearing US$1.1 billion in debt financing from the US Export-Import Bank for its Santa Cruz copper project in Arizona.
- Artemis Gold advances Blackwater expansion Artemis Gold has launched construction of the EP2 expansion at Blackwater in British Columbia, aimed at increasing processing capacity and production.
- Tungsten West secures £71m for Hemerdon restart Tungsten West has secured £71 million from the UK’s National Wealth Fund to support the restart of the Hemerdon tungsten-tin project.
Policy & Regulation
- US announces more than $2bn for mining projects The US administration unveiled over US$2 billion in funding to support domestic mining and metals production, particularly critical minerals.
- Peru targets $33bn mining pipeline Peru is aiming to unlock US$33 billion in mining investment by accelerating permitting and reducing regulatory delays.
- Canada focuses on critical-mineral supply chains Industry leaders highlighted the need to address permitting, funding and infrastructure challenges to deliver critical-mineral projects.
Corporate Moves
- South32 increases Sierra Gorda reserves South32 reported a 61% increase in ore reserves at its Sierra Gorda copper-molybdenum operation in Chile.
- Macmahon wins Snowy River contract Macmahon secured a A$406 million underground mining contract for Endura Mining’s Snowy River gold project in New Zealand.
Mining Landscape
- Copper hits another record Copper prices reached fresh highs in August as supply disruptions tightened global market expectations.
- China strengthens strategic focus on gold China continues to expand its focus on gold through increased production, reserves and yuan-based trading initiatives.
- Energy becomes a strategic mining issue Rising energy costs and decarbonisation pressures are making energy security a key factor in mining project viability.
- Mining sector faces huge project pipeline Harbour estimates the industry could spend US$641 billion across 679 development projects in the coming years.
Insight beyond search. Follow for key global mining news and major project updates from around the world.