Mining

The German government is expected to impose conditions on the US takeover of a Frankfurt-area magnet manufacturer, threatening to strain relations between Washington and Berlin and complicate the Trump administration’s efforts to break supply-chain reliance on China.

(The opinions expressed here are those of Andy Home, a columnist for Reuters.) The Iran war is escalating again but you wouldn’t know it from the aluminum price. Damage to two Gulf smelters and constrained logistics at others have already blown a 2-million metric ton hole in the global supply chain.

North American copper products supplier Pantheon Electric plans to expand through acquisitions to meet rising demand from artificial intelligence data centers and grid upgrades. The private equity-backed company was formed in January by combining four manufacturers of copper conductors and electrical components.

Barrick Mining Corp. said it safely evacuated workers who had been stranded in their Barriales camp in northern Chile after severe storms blocked road access. The workers are in “good health,” the miner said in a statement posted online. Rescue efforts began Friday and resumed earlier Saturday after weather conditions allowed for helicopter flights, according to the statement. Economy and Mining Minister Daniel Mas confirmed the safe evacuation of the miners on X.

MAX Power Mining (CSE: MAXX; OTC: MAXXF) announced Friday it has acquired key permits covering 155,125 acres (628 sq. km) contiguous to the 1,224 sq. km Lawson project striking southeast toward Moose Jaw as part of a material expansion of the company’s permitted landholdings in south-central Saskatchewan.

American Mineral Resources’ Piscau North polymetallic project is in Quebec, pictured. Stock image. American Mineral Resources is building a geographically diversified portfolio of mining projects as it positions itself for a planned Nasdaq listing, arguing that access to financing — rather than geology alone — has become one of the defining challenges for junior mining companies.

The U.S. Department of Energy (DOE) has announced up to $65.5 million in federal funding for cost-shared research, development, and deployment projects to strengthen domestic oil and natural gas production. The funding will be used to improve the efficiency and reliability of critical energy infrastructure and convert underutilized resources.

Chinese gold imports rose to a two-year high in June, underscoring resilient demand in the world’s biggest bullion market after a plunge in international prices. Overseas purchases rose a third month to about 173 tons, according to the latest customs data, the highest mark since March 2024. Cheaper prices and a stronger yuan kept investors interested, while banks were motivated to use up import quotas and stock up on bullion to meet retail commitments.

Gold could climb to $6,000 per ounce as swelling U.S. debt and central-bank buying extend the metal’s bull market, Toronto-based brokerage Maison Placements President John Ing forecasts in a paper released Thursday. The call rests on $39 trillion in U.S. federal debt, about $1 trillion of which is annual interest costs and steady official-sector demand.

Newmont (NYSE: NEM)(TSX: NGT) expects a nearshore barrier at its Lihir mine in Papua New Guinea to unlock more than 5 million ounce of gold beginning in 2028, as the world’s largest gold producer reaffirmed its 2026 production guidance after reporting record quarterly free cash flow. Chief executive Natascha Viljoen said the company remains on track to meet its full-year guidance after producing 1.3 million oz. of gold, 17,000 tonnes of copper and 7 million oz. of silver in the second quarter.