October 1st, 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 a $625m investment to support and extend coal powered energy. Additionally, The U.S. Department of the Interior announced the opening of 13.1 million acres of federal land for coal leasing. President Trump has used his emergency powers to keep some coal-fired power plants open as the President envisions a strong revival of the American economy lifted up by an energy-hungry tech sector.

• 🇺🇸 The U.S. Department of Energy’s Office of Fossil Energy (FE) announced a new program under its Mine of the Future initiative. FE has announced its intent to provide up to $80m in federal funding for mining technology proving grounds that will support and accelerate innovative technology development and commercialization. Read the notice of intent as there will be up to 4 awards at a maximum $20m (20% to 50% cost share), for those who want to complete a maximum of 2 R&D projects at their “proving ground site.” (DOE)

• 🇺🇸 Politico reported that Tina Roberts-Ashby, director of the USGS’ Geology, Energy and Minerals Science Center, is serving as BLM’s acting assistant director for energy, minerals and realty management.

• 🇨🇦 Nova Scotia introduced new legislation that will create a one-stop shop that will help Shepard through approvals, licenses, permits and other compliance measures for the mining and resources sectors. Not surprising given the provinces ranking in the Fraser Institute’s annual survey of mining companies earlier this year - the province finished in the bottom 10 globally. (Nova Scotia)

• 🇨🇦 The Yukon government issued a statement that it has accepted all 56 recommendations by the Independent Review Board tasked with examining the causes of the heap leach failure at the Eagle Gold Mine. These actions include a review of the Guidelines for Mine Waste Management Facilities, retaining subject matter experts to help improve regulatory and enforcement oversight, and increasing training of staff. The government has committed to working with the Council of Yukon First Nations and the Yukon Chamber of Mines as it moves through this process. (Yukon Government)

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MINING MATTERS FROM AROUND THE WORLD 🌎

• 🇺🇸 Newmont Corp. announced that Tom Palmer, who has served as Chief Executive Officer since 2019, will resign from its Board of Directors and as CEO on December 31, 2025. Natascha Viljoen, President and Chief Operating Officer, will succeed Palmer as President and CEO and will also join the Board of Directors on January 1, 2026. She is set to become the first woman to lead Newmont in its more than 100-year history. Get those congratulation letters ready folks! (Newmont)

• 🇨🇦 Mark Bristow is stepping down as President and CEO of Barrick Mining Corp. after nearly seven years at the helm. Mark Hill has been appointed Group COO and Interim President and Chief Executive Officer, effective immediately. The sudden departure surprised analysts with a number of media outlets suggesting Bristow’s handling of the Mali dispute was the last straw for the board. (Reuters)

• 🇳🇪 France’s Orano says it has 1,500 tons of uranium stockpiled at its seized SOMAIR mine in northern Niger. Sources told Reuters that potential buyers include Iran, Russia and Turkey. Orano has launched arbitration with the World Bank’s International Center for the Settlement of International Disputes as Niger looks to nationalize the operations. (Reuters)

• 🇦🇴 Angola’s Ministry of Mineral Resources, Petroleum and Gas has bid for a minority stake in De Beers through its state-owned diamond company Endiama. "Our bid is designed to foster a partnership in which Botswana, Namibia, South Africa and Angola all participate meaningfully - ensuring that no single party dominates and that the company can grow as a truly international commercial entity," said Diamantino Pedro Azevedo, Angola's Minister of Mineral Resources, Petroleum and Gas.

• 🇨🇳 🇦🇺 XCMG Machinery will deliver 150 to 200 units of 240T battery-electric haul trucks to Fortescue, marking China's largest-ever export order for green mining machinery. They will serve Fortescue's iron ore mining operations and support the company in meeting its zero-carbon emissions target for land-based operations by 2030.

• 🇧🇷 Weir added more fire power to its offerings this week as it entered into an agreement to acquire Fast2Mine. The company is a software provider with a focus on mine management solutions. The acquisition is seen to complement Micromine’s existing suite of mine planning and mine control software. Weir acquired Micromine back in February.

MINING BITS

• 🇨🇦 Congratulations to Gina Anderson who found six one-ounce gold coins valued at over $30,000 in Dawson City, Yukon, as part of The Northern Miner’s “Great Canadian Treasure Hunt”. Anderson said, "I was born and raised in the Yukon, so Dawson City already feels like home," said Anderson. "With a bit of local knowledge and a clue, I had that aha moment when everything came together. Finding real gold felt almost unreal at first, but the hunt gave me a deeper appreciation for Canada's mining history and the thrill of discovery." Lots of treasure to still be found including the grand prize of 217 one-ounce gold coins. Read the clues and become the next winner! (Newsfile)

• 🇺🇸 Alaska’s Governor Mike Dunleavy wrote an opinion piece in Newsweek supporting the Trump Administration’s policies while at the same time advocating for Graphite One’s Graphite Creek Project, located north of Nome in Alaska. The project was approved for the federal FAST-41 permitting process. (Newsweek)

• 🇨🇦 Macleans magazine has a piece on The Metals Company’s CEO Gerard Barron. He praises the US government while calling out other governments and companies. Definitely an interesting piece. (Macleans)

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