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Mining Goes Critical
Dig into news from around the world covering critical minerals, including our June Monthly Mining Roundup where we cover this topic & more!
-23.8% from 2022
🗨 Mining Goes Critical
Welcome to another edition of the Weekly Nugget! This summer, we are seeing a huge increase in news about critical minerals and their importance. Each country or region has lists of critical minerals, with many ranging anywhere from 15 - 50. Be sure to check out the replay of our Monthly Mining Roundup to learn more about the team's views and insights on these materials!
Head of New Media
🔥 What's New
The Prospector team recently hosted our June Monthly Mining Roundup, which focused on all things Critical Minerals! Check it out to learn about some of the hot topic minerals, a few lesser-known ones, and their uses and importance!
Watch The Recording Here
📰 In The News
India Releases List Of 30 Critical Minerals
India released a report identifying 30 critical minerals that are crucial for the country's economic development and national security. The list includes minerals such as lithium, cobalt, copper, graphite, and rare earth elements, which are essential for technologies like mobile phones, electric vehicles, solar panels, and defense equipment. India is largely dependent on imports of these minerals, with only a small portion of its potential reserves being explored. Identifying critical minerals ensures a secure supply chain and reduces dependence on other countries. The list will be periodically reviewed and updated. Additionally, India has included fertilizers in its list of critical minerals due to the country's large agricultural sector and the need to support food production.
Top 10: AI In Mining
AI is disrupting the mining industry by transforming how daily operations are handled. These intelligent systems are capable of analyzing large quantities of data and providing digital solutions for companies, with the technology helping to increase speed and safety in mining operations. Mining Digital considers some of the top use cases for AI in the mining industry and some of the highest-profile companies that have adopted these technologies.
Bunker Hill Closes Deal To Restart Mine
Bunker Hill Mining has announced the completion of a $67 million deal, allowing the company to restart the Bunker Hill silver mine project in Idaho. The agreement with Sprott Private Resource Streaming and Royalty includes a multi-metals stream of $46 million and a $21 million debt facility. Bunker Hill completed a prefeasibility study last year, estimating a capital cost of $54.8 million for the first phase of the project restart. The mine, located in Idaho's Coeur d'Alene mining district, has a historic production record and is expected to be reactivated as a high-grade silver mine with low costs and long operational life. The deal's closing will enable the company to commence full-scale project activities.
Conservationists And Tribes Urge US Appeals Court To Block Biden-Backed Nevada Lithium Mine
Lawyers representing environmentalists and tribes have appealed to a US appeals court to overturn a judge's decision that allowed construction to commence on a large lithium mine in Nevada before full compliance with federal law was achieved. The lawyer argued that the judge exceeded her authority by refusing to revoke the mine's operation plan despite acknowledging law violations in its approval process. The mine, located at Thacker Pass near the Oregon border, has become a focal point of the clash between environmentalists, Native Americans, and President Joe Biden's climate change agenda. The project's implications extend to mining operations in the Western United States and involve the extraction of lithium, a crucial metal used in electric vehicle batteries.
Mining The Moon To "Lift Off" Within Ten Years
NASA aims to operate a pilot processing plant for lunar resources by 2032 as part of its Artemis missions, which include sending the first woman and person of color to the Moon. The initial focus will be on quantifying potential resources such as energy, water, and lunar soil to attract commercial investment. NASA plans to build a moon-orbiting base called Gateway and subsequently establish a base on the lunar surface for resource extraction. The agency envisions commercial rocket companies as the first customers, utilizing the Moon's resources for refueling and other needs. NASA will conduct a test drill on the Moon's surface next week and plans large-scale excavation activities for 2032. The push for space mining has gained momentum in recent years, with governments implementing programs and legislation to explore and utilize celestial resources.
UK To Gain First Lithium Mine In Cornwall
British Lithium has reached a joint venture agreement with French mining company Imerys to establish the UK's first lithium mine in Cornwall. The project aims to extract 20,000 tonnes of lithium ore, which could supply enough lithium for 500,000 electric cars annually by the end of the decade. The venture, expected to require £575 million ($784 million) in spending, would create around 300 jobs. The deal marks a significant step in developing a viable UK lithium industry as the country seeks to establish a self-sufficient battery supply chain for the growing electric vehicle market.
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