Weekly Nugget
Ecuador to Reopen Mining Register to Combat Illegal Mining
Dig into the latest mining news in this week's nugget.
Sift through mining news in this week's nugget.
Here's Your Weekly Nugget!
- 🔥 What's New
- 📰 In The News
- 🎧 On The Rocks
- 📱 Trending On Social
- ❓ Prospector Poll
🔥 What's New
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📰 In The News
Biden Administration Approves Ioneer’s Nevada Lithium Mine
- The U.S. Interior Department approved ioneer's Rhyolite Ridge lithium mine in Nevada, the first under the Biden administration and expected to supply Ford and other EV manufacturers.
- The permit, following a six-year review and balancing environmental concerns over the endangered Tiehm's buckwheat flower, unlocks $1.19 billion in funding, with production anticipated by 2028.
- The mine will annually supply lithium to power about 370,000 EVs, while conservation groups plan legal action, citing potential harm to the flower despite the mine's revised plans for ecosystem protection.
Could Seaweed Farms Become the Next Generation of Mines?
- Blue Evolution merged with Blu3 to advance seaweed-based regenerative ocean farming for sustainable biomining, focusing on critical minerals and rare earth elements.
- Partnering with Pacific Northwest National Laboratory, Blue Evolution developed new methods to extract minerals from seaweed, aiming to supply the North American rare earths market and reduce reliance on imports.
- CEO Beau Perry highlights seaweed's capacity to absorb minerals and regenerative potential, positioning seaweed farms as an environmentally sustainable alternative to traditional mining.
Talon Metals Makes New Copper-Nickel Discovery Near Eagle Mine in Michigan
- Talon Metals announced a significant copper and nickel discovery at its Boulderdash target in Michigan, with the first drill hole showing 99.92 meters of mineralization at 1.6% copper equivalent.
- The find, located near Lundin Mining’s Eagle mine, raised Talon’s shares by 17%, prompting plans to expand drilling to assess the deposit’s potential.
- Supported by a $20.6 million U.S. Department of Defense grant, Talon is exploring Michigan and Minnesota, aiming to boost domestic critical mineral production amid rising demand for local resources.
Mining vs AI – It’s Not Even Close
- By the end of Q3 2024, the combined market capitalization of the world’s top 50 mining companies rose to $1.51 trillion, primarily driven by gold and royalty stocks, though still $240 billion below its 2022 peak.
- Despite an 8% year-to-date increase, top miners like BHP, Rio Tinto, and Newmont saw declines in Q4, suggesting a continued valuation gap within the sector.
- Nvidia’s market value now surpasses the entire mining industry's listed valuation, highlighting stark disparities in how investors value tech versus industrial resources.
Mining Giants Sign $30BN Settlement for 2015 Brazil Dam Collapse
- BHP and Vale have agreed to pay nearly $30 billion in compensation to Brazil for the 2015 Mariana dam collapse, which caused severe environmental damage and loss of life.
- The agreement includes payments of $17.5 billion over 20 years to local authorities and $6 billion for resettling victims and environmental repair, with $7.5 billion in prior compensation costs acknowledged.
- International legal cases against BHP and Vale continue, as Brazilian communities seek additional justice and quicker resolutions amid delays in the domestic settlement process.
🎧 On the Rocks
In this eye-opening episode of On the Rocks, host Emily King, sits down with Jennifer Hibbert, Senior Solutions Engineer at DTN, to explore the critical intersection of weather and mining.
📱 Trending On Social
❓ Prospector Poll
With the valuation of tech giants like Nvidia surpassing the mining industry, do you see the resource sector’s value catching up?
Last Week's Results
How concerned are you about resource misclassification (“classification debt”) in the mining industry?
