November 12th, 2025 - The Mine Wire

METALS MARKET

^{**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.}

KEEPING AN EYE ON GOVERNMENT DECISIONS

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

• 🇺🇸 8 Democrat Senators voted with 52 Republican Senators to pass a bill to end the longest government shutdown in US history. The Republican controlled House of Representatives is expected to pass the bill later today with voting starting as early as 4pm. The deal extends funding until January 30th. Most of the 8 Democrat Senators mentioned The Supplemental Nutrition Assistance Program (SNAP), or food stamps, as their main reason for supporting this deal. We may be a bit cynical, but we also suspect the mass cancellation of flights due to a lack of air traffic controllers (who were working without pay) played its part.

• 🇺🇸 The U.S. Department of the Interior, through the U.S. Geological Survey, published the final 2025 List of Critical Minerals which adds 10 new minerals—boron, copper, lead, metallurgical coal, phosphate, potash, rhenium, silicon, silver, and uranium—based on new data, public feedback and interagency recommendations. Inclusion in the list is important as it leads to direct government investment, stockpiles, streamlined mine permitting and incentives for U.S. mineral processing. (DOI)

• 🇨🇦 Saskatchewan's Minister of Energy and Resources, Colleen Young, introduced the Mineral Resources Amendment Act 2025 last Thursday. Under the legislation, companies will be able to apply to the Minister of Energy and Resources for a designated subsurface development area in cases where private mineral owners cannot be located or reasonable efforts have been exhausted to negotiate an agreement. The move was welcomed by the Saskatchewan Mining Association and large players like Nutrien. (Saskatchewan)

• 🇯🇵 🇺🇸 Following a meeting with President Trump, Japan’s new Prime Minister Sanae Takaichi, indicated that the two may collaborate on seabed mining. The Prime Minister said, "We will consider specific ways to promote cooperation between Japan and the United States on rare earth development ... around Minamitori Island.” The island is just 1.2km long and is Japan’s eastern most territory, roughly 1,848 kms (1,150 miles) southeast of Tokyo.

• 🇨🇩 The Democratic Republic of Congo’s Mines Minister Louis Watum Kabamba said the country was suspending China’s Congo Dongfang International Mining’s operations after reports of spills at their site. The Minister promised an investigation and said, "CDM must fully repair the environmental damage, ensure the remuneration of its staff, compensate the affected populations, and strictly comply with the requirements of the Mining Code." We really hate to see this disregard for environmental standards which seems too common from some players. (Reuters)

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MINING MATTERS FROM AROUND THE WORLD 🌎

• 🇨🇦 Let’s start with some rumors related to Canada’s Prime Minister Mark Carney and the next tranche of “nation-building” projects. Word got out that Canada Nickel Company’s Crawford Nickel Project might be included in the announcement this Thursday and the stock shot up over 27% on Tuesday. Yesterday evening, sources leaked that 4 projects are expected to be included. The other mining project is The Sisson Mine, for critical minerals, in New Brunswick. It is a joint venture between Northcliff Resources Ltd (TSX: NCF) and Todd Corporation. It is focused on Tungsten & Molybdenum, two exports that China has targeted recently. It closed at 0.21 yesterday so we put in our own Hail Mary order for this morning but guess what - it opened at 0.34 and was trading at 0.53 just minutes ago, a 165% increase. Definitely worth a deeper dive as this looks to be a great longer term project. (CBC)

• 🇨🇦 🇺🇸 Barrick Mining made headlines this past week after its interim CEO Mark Hill told Reuters it will shift its focus to North America. It also raised its quarterly dividend by 25% to $1.25 and announced a $500m increase to its current share buyback program which sent the stock up over 10%. With a reputation for operating in "tough markets" (politically sensitive or high-risk jurisdictions), we aren’t surprised to see this shift in focus with the departure of Mark Bristow. No doubt the $1bn write down in the Mali asset has taken its toll on the business.

• 🇧🇷 Sibanye Stillwater has agreed to pay Appian Capital Advisory a $215m settlement related to the South African miner’s termination of a $1.2bn deal to buy Appian's Brazilian nickel and copper mines back in January 2022. Appian founder and CEO Michael W. Scherb said the two parties had found a "constructive resolution".

• 🇰🇿 In other investment firm news, Cove Capital will develop a large tungsten deposit in Kazakhstan with the state mining firm JSC Tau-Ken Samruk. Cove’s subsidiary will own 70% of the project with Tau-Ken Samruk owning the remaining 30%. (Businesswire)

• 🇦🇺 The Australian Securities and Investments Commission (ASIC) is suing AVZ Minerals and two of its directors for what it calls “"misleading and deceptive conduct". ASIC Deputy Chair Sarah Court said, "We allege Mr. Ferguson and Mr. Johnston failed to inform investors of the ongoing issues in this matter for nearly 12 months." A reminder to all publicly listed directors to take their disclosure duties seriously. (Reuters)

• 🇨🇱 China’s anti-trust regulator gave a green light to Chile’s Codelco-SQM joint venture to develop the Atacama salt flats. Competition regulators in Chile, the European Union, Brazil, Japan, South Korea and Saudi Arabia have already approved the JV, with the market waiting on China’s approval. China’s Tianqi Lithium which owns 22.16% of SQM, was very public in its opposition to the JV. We bet many folks down in Chile are breathing a sigh of relief on this one.

• 🇩🇪 Germany’s potash and salt miner K+S is calling on the government to accelerate permits for raw material extraction projects and ease energy costs. K+S CEO Christian Meyer said, "It is unacceptable that, as a raw materials extraction company in Germany, we often have to wait years for important permits. This has to be faster. And it can be faster. Other countries, such as Canada, where we also have production facilities, are showing us how it can be done."

Tech-tastic Times Ahead for Mining in Vancouver, BC!

Mark your calendars for November 20-21, 2025, as MiningTech North America Expo & Conference, North America’s premier event dedicated to Tech, AI, and Innovation in mining, returns to Vancouver Convention Centre.

Technology is revolutionizing every stage of mining—from exploration and excavation to material handling, refining, energy storage, logistics, and recycling. Unlocking a mine’s full potential and optimizing operations now depends on integrating cutting-edge technologies across the entire mining lifecycle.

No need to worry if you’re not a tech expert! The event will bring together senior management from mining companies, analysts, investors, and a wide range of stakeholders from the mining and energy sectors.

Whether you’re interested in sponsoring, exhibiting, speaking, or attending as a delegate, this is your chance to join the conversation. Find out more at: https://www.miningtechnorthamerica.com/

MINING BITS

• 🇺🇸 🇨🇳 According to the China Africa Research Initiative of Johns Hopkins University, the United States invested more than China in Africa in 2023. It was the first time since 2012. The United States invested $7.8bn versus China’s $4bn. (BBC)

• 🇺🇸 Elizabeth Klein, Director of Domestic Policy Programs at Penn Washington and former Director of the Bureau of Ocean Energy Management in the Department of the Interior, argues that the U.S. needs stronger regulatory oversight of deep-sea mining. (Penn)

• 🇨🇦 Based in Canada and know someone interested in the mining sector? Let them know about the Mining Needs You Virtual Career Fair on November 24th and 25th from 10am to 7pm EST. Employers, recruiters, academic institutions, and industry leaders will connect with students and job seekers, offering exciting opportunities for work placements and careers in Canada’s mining sector! (Mining Needs You)

• 🇸🇦 Future Minerals Forum (FMF) returns to Riyadh on 13–15 January 2026 as the world’s largest convening dedicated to the future of minerals and metals. FMF brings together government ministers, CEOs, investors, end-users, and innovators from 120+ countries to tackle supply, sustainability, technology, and financing for the energy transition. The three-day program features leadership keynotes, roundtables, market spotlights, an international exhibition, and curated networking and deal-making. Details and registration at futuremineralsforum.com.

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