January 14th, 2026 - The Mine Wire

METALS MARKET

Just for fun we decided to calculate price increases from December 16th (Last newsletter) to January 13th 4pm EST. Ok ok, it was also easier for us to do it this way.

In the past month, most metals are up with Lithium and Silver stealing the show. A host of actions by China have helped lithium soar over 66% in the past month - check this article out for more information on that → (Reuters). Meanwhile, Silver continues to benefit from safe haven demand as geopolitical tensions rise while supply remains tight against solid industrial demand. We know all of you silver bulls are smiling!

^{**For our chart above we are taking prices from Tuesday 4pm EST to Tuesday 4pm EST, so not the typical week of Monday through Friday. This week however, we have done December 16th 4pm EST to January 13th 4pm EST.}

KEEPING AN EYE ON GOVERNMENT DECISIONS

Here are some of the notable government policy moves this week:

🇨🇳 🇯🇵 Back in November, Japan’s Prime Minister Sanae Takaichi said in parliament that a Chinese invasion of Taiwan would constitute “a situation threatening Japan’s survival,” potentially triggering a military response from Tokyo. This infuriated China which sees Taiwan as a breakaway province under the “One China Principle”. Fast-forward to 2026 and China has banned exports of dual-use items, including certain rare earth elements, to Japan. Dual-use items include technologies, goods or software with both civilian and military applications. China is apparently considering a full ban on rare earth elements as tensions continue to rise between the two nations.

🇯🇵 Not surprisingly, Japan is wasting no time looking for new sources or rare earths that it can control. The massive Chikyu research ship left port in Shizuoka on Monday as it travels to waters about 150 kilometers southeast of Minamitorishima Island inside Japan's exclusive economic zone. The vessel will attempt to retrieve earth-rich mud from 6,000 metres below sea level where high concentrations of rare earths have been found by scientists. Check this article to see just how massive the ship is → (NHK)

🇨🇳 China announced that it will allow 44 companies to export silver, 15 to export tungsten and 11 for antimony in 2026. With the companies largely unchanged from 2025, it clearly signals that China plans to keep a tight grip on exports again this year.

🇺🇸 In response to China’s on-going export restrictions, U.S. Treasury Secretary Scott Bessent met with G7 finance ministers on Monday, which included Britain, Canada, France, Germany, Italy, Japan and the U.S. as well as officials from Australia, Mexico, South Korea and India. The group met in Washington on Monday to discuss critical minerals supply chains.

🇺🇸 In other US news, the U.S. Department of Energy announced $2.7bn to strengthen domestic uranium enrichment services over the next ten years. Three companies received this funding: American Centrifuge Operating ($900 million) to create domestic HALEU enrichment capacity; General Matter ($900 million) to create domestic HALEU enrichment capacity; and Orano Federal Services ($900 million) to expand U.S. domestic LEU enrichment capacity. (DOE)

🇺🇸 The Trump administration and members of the U.S. Congress are pushing forward a plan to overturn former President Joe Biden's mining ban in northern Minnesota. The big winner of such a move would be Antofagasta’s Twin Metals project which looks to construct and operate an underground copper, nickel, cobalt and platinum group metals mine in the region.

🇺🇸 The Trump administration has made another equity investment in an American company. This time the Pentagon is investing $150m of preferred equity in Atlantic Alumina Co. or ATALCO. The company will use the money to boost alumina production and also “establish the country’s first and only large-scale gallium production circuit.” ATALCO says it will eventually be able to produce up to 50 metric tons of gallium per year which would meet the total gallium demand in the United States.

🇦🇺 On Monday, Australia said it will prioritize antimony, gallium and rare earth elements as part of its own A$1.2 billion ($802 million) strategic reserve.

🇨🇦 The Ontario government announced it is accelerating Canada Nickel Company’s Crawford Nickel Project, the second to move forward under the new ‘One Project, One Process’ (1P1P) framework that was launched in October. (Ontario

SAVE THE DATE - GROUNDUP RECEPTION at AMEBC Roundup

Join Us as a Co-Sponsor – AMEBC GROUNDUP

GROUNDUP is back at AMEBC Roundup, and we’re inviting a small number of partners to co-sponsor this year’s Power Hour on Tuesday, January 27 (5–7 PM).

We’ll be hosting at one of our partner venues, @freehousecollective, bringing the mining community together for great conversations, cold bevvies, and a packed room of industry leaders. For event details, please sign up to www.theminewire.com for event info and updates.

Interested in co-sponsoring alongside The Mine Wire? Get in touch → [email protected] 

MINING MATTERS FROM AROUND THE WORLD 🌎

🇬🇧 🇦🇺 🇨🇭 Last week, Rio Tinto and Glencore revealed that they are in discussions about a potential combination of some or all of their businesses. It is certainly the biggest news in mining so far in 2026 as a full merger would create the world’s largest mining company. Rio Tinto has already indicated that it would be open to owning Glencore’s coal business, despite selling off its own assets in 2018 due to investor pressure. This doesn’t surprise us and makes sense given President Trump’s own support of the coal industry, a global pullback on stricter ESG investment guidelines and a very attractive copper portfolio at Glencore. By our calculations Glencore is up over 12% since the news broke as investors expect a healthy premium paid.

🇬🇳 The UAE’s Axis International Ltd is seeking $28.9bn from Guinea at a World Bank tribunal after the country revoked its permit to operate a bauxite mine. The company said that “Guinea is liable for at least $28.9bn in damages based on "proven reserves" of more than 800m metric tons.” The mine produced 18m tons of bauxite in 2024. (Reuters)

🇵🇹 Congratulations to Savannah Resources (AIM: SAV) which received a non-reimbursable grant of up to €110m ($128m) from the Portuguese government to support its Barroso Lithium Project. The stock is up over 23% on the news.

🇦🇺 Amanda Lacaze, CEO of Lynas Rare Earths, has announced that she plans to retire later this year and that the board is currently searching for a replacement. The out-going CEO is rooting for a female replacement saying that, “In the mining sector, we still have far too many women who are cast in the competent [second in command] role, rather than making that last step into leadership… So I would be delighted if [her replacement is] a woman. I would also be delighted if it’s somebody who looks different in other ways. I just want my successor to be someone with the skills and the competence to run this business and to do it successfully.” (AFR)

MINING BITS

🇨🇦 We would like to toast Steve Virtue who has been appointed Interim CEO of The Ontario Prospectors Association. We might be biased since we know Steve, but what a catch by the OPA. As Interim CEO, Steve will lead the OPA in its policy development, advocacy and member engagement efforts. He will support the implementation of a new strategic vision for the Association and oversee initiatives spanning government relations, organizational growth, education, and partnerships. (Newsfile)

🇦🇺 We would also like to congratulate Dr Vanessa Torres who has been appointed as the new chair of the Minerals Research Institute of Western Australia (MRIWA). Dr Torres assumed the role on the 1st of January 2026 for an initial three-year term. (Western Australia)

🇬🇱 The Center for International & Strategic Studies takes a look at the United States and its Greenland ambitions. The authors present 4 recommendations to help facilitate investment in the Danish territory. We might cheekily add that none of these recommendations include invading or taking the territory by force. They point out that Greenland requires significant improvements to its supporting infrastructure and public perception of mining. Therefore they recommend: The United States should deepen collaboration with the European Union by aligning offtake, financing, and policy tools to jointly strengthen supply chain resilience and diversify global graphite supply; The U.S. International Development Finance Corporation (DFC) and the U.S. Export-Import Bank (EXIM) should invest in Greenlandic infrastructure corridors to increase the feasibility and bankability of mining projects; Strengthen regulatory clarity by clearly defining and consistently enforcing regulations to reduce policy risk and restore investor confidence; and Strengthen community engagement and benefits sharing to better insulate projects from shifting political headwinds and disruptions to social license to operate. (CSIS)

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