Mining

Vema Hydrogen said Monday that it has entered into a non-binding Letter of Intent (LOI) with First Atlantic Nickel & Cobalt (TSXV: FAN | OTCQB: FANCF), to jointly develop engineered mineral hydrogen (EMH) at the Pipestone XL project, a 30-kilometer ultramafic belt in central Newfoundland, Canada. Newfoundland is a significant region for critical minerals and clean energy development, but exploration and mining remain energy intensive.

The company seeking to build Chile’s first rare earth mine is in talks with US International Development Finance Corporation as the Trump administration moves to loosen China’s grip on critical minerals. Aclara Resources Inc. received positive initial feedback from the US institution after recent rule changes expanded funding eligibility to higher-income countries like Chile, chief executive officer Ramon Barua said Monday in an interview.

As industrial enterprises increasingly turn to digitalization to enhance safety, productivity, and sustainability, Ericsson (NASDAQ:ERIC) and Epiroc said they are evolving their global relationship to accelerate this transformation within the mining sector. The agreement builds on a collaboration established in 2018, when Epiroc and Ericsson signed a cooperation agreement to explore how LTE and 5G technologies could be applied in mining operations.

Trafigura Group has told some customers they won’t get shipments from a zinc mine in Cuba, as the US ramps up pressure on the country via sanctions and an economic blockade that’s choking off fuel supplies. The commodity trading house informed some smelters in China that they won’t receive cargoes of semi-processed zinc ores known as concentrates from the Castellanos project in Cuba, according to people familiar with the matter, who asked not to be identified because the discussions were private.

Vale SA, the world’s top iron ore producer, sees no evidence of war-related demand destruction in global metals markets and has experienced swelling margins as the Iran conflict disrupted raw-material flows, said chief executive officer Gustavo Pimenta. Vale is focusing on harvesting its own assets rather than seeking acquisitions, Pimenta said in a Bloomberg Television interview on Monday. Worldwide demand for critical minerals has been “super-constructive” for the Brazilian miner, he added.

Mercuria Energy Group enjoyed an 88% jump in first-half profit, putting it on track for one of its best-ever annual results as the Hormuz crisis creates huge opportunities for commodity traders. The results, which Mercuria does not report publicly, are the latest example of how the industry is again making huge profits from the natural resource supply shocks hitting the world from oil and gas to metals.

Australian gold production fell almost 3% to 75 tonnes in this year’s first quarter compared to the previous period due to rain and bushfires, while gold price highs kept the output valuable, Melbourne-based mining consultants Surbiton Associates says. That production total, worth about A$17 billion ($12 billion) was down just two tonnes from last year’s fourth quarter output. Gold fluctuated widely during the latest quarter, with the yellow metal reaching an historic high of $5,595 per oz. on Jan.

Antofagasta (LON: ANTO) has committed $900 million to extend the life of its Zaldívar copper mine in northern Chile to 2051, replacing freshwater use with treated wastewater as it pushes the operation toward a more sustainable future. The mine, which Antofagasta operates and co-owns with Barrick Mining (TSX: ABX, NYSE: B), announced the investment at the Exponor mining and energy conference.

Nova Scotia is making some of the most significant changes to its mining sector in decades, and investors, developers and policymakers should take notice. For years, the province struggled to attract the level of mining investment seen elsewhere in Canada despite its rich geological potential. Today, that picture is changing.

Chinese buyers have been seeking tungsten from scrapyards across the US, leading to record-breaking prices as competition heats up in the global race to secure supplies of the critical mineral, according to the Financial Times. A recent FT report reveals that Chinese scrap traders have been actively pursuing tungsten supplies in the US since early 2025, preying on a global shortage caused by declining mine output and strong demand from the aerospace, defense and industrial tooling sectors.