Mining

Rosh Pinah mine. (Image courtesy of Appian Capital Advisory.) Appian Capital Advisory, a London-based private equity firm, is in talks with the European Bank for Reconstruction and Development (EBRD) and others for funds to invest in critical minerals projects, an executive at the firm told Reuters.

Cameco’s Cigar Lake uranium mine in northern Saskatchewan. Credit: Cameco Stocks of uranium companies are falling despite the strongest long-term fuel prices in more than 18 years, as investors weigh an expected tightening of supply against rising costs and the difficulty of bringing new projects into production.

Australia’s Lynas Rare Earths (ASX: LYC; US-OTC: LYSCF, LYSDY) has secured minimum-price agreements covering more than half its production as manufacturers pay premiums for supplies outside China. Average selling prices jumped 88% to a record A$102.1 ($72) per kg in the three months to Sept. 30, lifting revenue 55% to A$310.1 million ($218 million), the company said Thursday. Sales volumes fell 18% from a year earlier.

As the United States pushes to reduce its dependence on China for critical minerals, New York-based Radical AI is taking a different approach to securing strategic materials: using artificial intelligence to develop new alloys that require fewer supply-constrained metals.

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Chile expects its copper output to stage only a modest recovery next year after a historic slump, leaving it well below recent levels as aging mines contend with deteriorating ore quality and increasingly challenging geology. State copper commission Cochilco cut its 2027 production forecast to 5.08 million metric tons, implying a 3% rebound. It also slashed this year’s estimate to 4.94 million tons from 5.27 million amid accidents and wild weather, representing an 8.4% annual drop.

Strong commodity prices may be concealing serious problems across the mining industry. EY’s latest global mining report ranks operational complexity as the industry’s biggest risk for 2027, with aging mines, declining ore grades and rising costs threatening production.

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Edited stock image. Gold fell to its lowest in a year on Friday and silver dropped below $50 an ounce as rising oil prices hardened bets on another Federal Reserve rate hike and a deepening rout in technology stocks forced investors to sell the metals to cover losses elsewhere, dragging gold and silver producers down as much as 8%. Spot gold fell as much as 3.2% to $3,891.67 an ounce, its weakest since Oct. 28 last year, and was trading down 2.7% at $3,910.53 by late morning in New York.

Perseus Mining (ASX, TSX: PRU) has acquired 28 containerized generator stands for its Nyanzaga gold project in northwestern Tanzania ahead of its planned first gold pour in January 2027. South-African power engineering firm USP&E emergency power system provides backup electricity at the mine, which is located far from a dependable grid supply.