November 19th, 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:

🇺🇸 The U.S. Department of Energy announced $355m for two funding opportunities. The first funding opportunity provides up to $275m for American industrial facilities capable of producing valuable minerals from existing industrial and coal byproducts. The second provides up to $80m to establish Mine of the Future proving grounds for real-world testing of next-generation mining technologies. The application deadline is December 15th, 2025 at 5pm ET. (DOE)

🇺🇸 The bipartisan U.S. House Select Committee on China released a 50 page report that examines how China manipulates the critical minerals markets to further its global authoritarian ambitions. Long story short, the report accuses China of subsidizing its state mining companies with tens of billions of dollars, intentionally depressing prices in markets like lithium, and then subsidizing its companies to buy global mining assets on the cheap when markets are down. (Select Committee CCP)

🇨🇦 Prime Minister Mark Carney and Manitoba’s Premier Wab Kinew announced additional funding for the Port of Churchill Plus. The Government of Canada will provide funding for a feasibility study to determine the path forward for future deployment and operation of specialized icebreakers, ice tugs, and research vessels at the Port of Churchill. Manitoba will provide $51m for the Arctic Gateway Group to make capital improvements to the Hudson’s Bay rail line and to build a new critical minerals storage facility at the Port of Churchill. This brings the joint government funding over five years to $262.5m. (Canada)

🇨🇦 According to sources, The Government of Canada is pressing Anglo American to redomicile to Canada and move its main listing to the Toronto Stock Exchange if it wants the government’s approval to takeover Teck Resources. This really shouldn’t surprise anyone. There has been a lot of push back in the Canadian mining community about big international players buying and “gutting” their Canadian operations. History has shown that promises aren’t worth the paper they are written on. Maybe more importantly, current geopolitics has raised the importance of critical mineral access and sovereignty, leverage the Canadian government needs right now.

🇨🇦 The British Columbia Government has launched Look West, a strategic plan to deliver major projects faster, expand skills training and grow key sectors to strengthen B.C.’s economy. Not surprisingly, critical minerals is one of the target sectors. (British Columbia) 

🇮🇩 Indonesia will charge taxes on exports of gold of between 7.5% and 15% in a plan that will be implemented sometime in 2026. Minted gold bars will receive a lower rate to encourage in-country processing.

🇬🇭 Ghana will scrap its 15% value-added tax on mineral exploration activities in order to boost investment. The Ghana Chamber of Mines welcomed the move and its President, Michael Akafia, said, "VAT on exploration negatively affected our competitiveness as a mining jurisdiction and was a clog on the pipeline of projects."

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MINING MATTERS FROM AROUND THE WORLD 🌎

🇦🇺 BHP was ordered by the Australian Federal Court to pay compensation to 85 coal mine workers for unlawfully forcing them to work on Christmas and Boxing Day in 2019 without giving them a reasonable right to refuse. The court found that BHP had contravened the Fair Work Act by imposing a requirement to work rather than requesting it, thereby denying the employees the chance to raise reasonable grounds for refusal. Workers received between $800 and $2,400 each. BHP was fined $15,000, payable to the Mining and Energy Union (MEU). This is considered a landmark case because it reinforces the right of Australian workers to refuse work on public holidays, a right established by the Fair Work Act. The ruling emphasizes that employers must ask for volunteers first and respect employees' reasonable grounds for refusal, rather than mandating public holiday shifts. Those operating in Australia should take note!

🇦🇺 Mineral Resources is selling a 30% stake in its operational lithium business to South Korea’s POSCO Holdings US$765m. Mineral Resources currently has a 50% ownership stake in both the Wodgina and Mt Marion lithium mines.

🇨🇦 Speculation around Barrick Mining continues to be front and center as the company reportedly considers a split into two companies. The first focused on lower risk assets in North America, with the second focused on assets in Africa & Asia. Activist investor Elliott Investment Management L.P. has quietly amassed a $1bn stake in Barrick and is now pressing the board to consider such a split.

🇨🇳 It has been reported that Glencore plans to invest in Chuangxin Industries Holdings Ltd.’s upcoming initial public offering in Hong Kong. The Chinese company based in Inner Mongolia is looking to raise US$700m from its IPO. 🇺🇸 Meanwhile, over in the United States Glencore cut its holdings in Century Aluminum by 10% to 33%. It total, it sold nine million shares on November 10th for $272.25m. Century aluminum is up over 50% in 2025 due to President Trump’s tariffs that protect domestic producers. Despite that rise, the company’s stock is down over 20% the past month. Seems like a good time to take some profit while looking at new investment opportunities.

🇫🇷 🇺🇸 Congratulations to France’s Solvay which signed agreements with U.S. companies Noveon Magnetics and Permag to supply rare earth oxides. Solvay is one of only a few companies outside China that processes rare earths. An Nuyttens, President of Solvay Special Chemicals said, "This collaboration is part of Solvay's broader commitment to sustainable and secure rare earth supply chains, both in Europe and abroad."

MINING BITS

🇨🇩 Our thoughts and prayers go out to the 32+ people who lost their lives in a tragic accident in the Democratic Republic of the Congo this past week. The miners rushed to cross a makeshift bridge with access to the mine site, but it collapsed due to overcrowding. The Congo's Artisanal and Small-Scale Mining Support and Guidance Service said the collapse was "caused by panic, reportedly triggered by gunfire from military personnel securing the sit." There are now calls for an investigation into the tragic incident. (Reuters)

🇨🇦 National Geographic takes a look at Vancouver, Canada and why you should make it a travel destination in 2026. They mention the FIFA World Cup, but also recommend a host of places and delicious restaurants to try out in the city! (NatGeo)

🇨🇦 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)

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