Welcome back to your weekly mining news recap, where we catch you up on some of the news you may have missed. This week’s headlines include Panama granting the export of stockpiled copper concentrate from the Cobre Panama mine, gold prices reaching a record high, and Glencore proposing a deal to acquire Toronto-headquartered Li-Cycle. 

U.S. President Donald Trump has invoked emergency powers to increase U.S. production of critical minerals and potentially coal, in an effort to reduce reliance on foreign imports, as reported by Bloomberg. An executive order signed on Thursday makes use of the country’s Defense Production Act to provide financing and investing support for domestic mineral projects. The order aims to speed up permitting for projects, prioritize mineral production on federal land and address concerns over China’s control of critical minerals, with the U.S. heavily reliant on imports. According to the U.S. Geological Survey in 2024, 12 minerals on the U.S.’s list of 50 critical minerals could only be sourced from other countries.  

Calibre Mining’s largest shareholder, Van Eck Associates Corp., has opposed Equinox Gold’s US$1.8 billion bid for the gold producer, citing that it “dilutes the quality and potential” of Calibre, as reported by Bloomberg. Van Eck Associates’ portfolio manager Imaru Casanova argued that there are no synergies between the two companies’ respective operations, as Equinox operates gold mines in Canada, Mexico, Brazil and the U.S., while Calibre’s mines are in the U.S. and Nicaragua. Both companies plan to hold shareholder votes on the proposed merger, which have not been scheduled yet.  

Increased political attention on Arctic sovereignty, particularly following annexation threats from Trump, could present Agnico Eagle Mines with the chance to unlock new mining prospects in the region, as reported by Financial Post. The company has spent almost 20 years advocating for greater investment in Arctic infrastructure, which could drive significant growth for the miner, especially at its Hope Bay gold mine in Nunavut, where production was suspended in 2022 to prioritize exploration activities.  

José Raúl Mulino, Panama’s president, has authorized the export of 121,000 tonnes of copper concentrate that has been stockpiled at the Punta Rincón port of First Quantum’s shuttered Cobre Panama copper mine, as reported by Bloomberg. In response, First Quantum has directed its lawyers to suspend arbitration cases against Panama regarding the mine’s suspension of operations in 2023. Mulino has repeatedly emphasized that the company must drop arbitration cases before any discussions about reopening the mine can proceed.  

Gold prices hit a record high of US$3,056.96 an ounce on Thursday, as the U.S. Federal Reserve signalled two potential interest rate cuts this year, boosting the appeal of the metal amid economic and geopolitical uncertainties, as reported by Reuters. The Reserve’s rate cuts, trade tensions and ongoing Middle East conflicts have fuelled the price surge. Some analysts predict gold could reach US$3,100 per ounce in the next 12 months. 

Glencore is considering an acquisition of struggling TSX-listed electric vehicle battery recycler Li-Cycle, as reported by The Globe and Mail. On March 14, Glencore approached Li-Cycle with a proposal, citing that a deal could aid the company in addressing its operational and financial challenges. Li-Cycle has faced uncertainty regarding its future after halting construction on its flagship recycling project in Rochester, New York, in 2023 due to escalating costs. Glencore has already invested US$200 million in Li-Cycle in 2022, and more recently, invested an additional US$75 million in March 2024. 

Australia’s Paladin Energy has received an exemption from Canada’s Non-Resident Ownership Policy for its Patterson Lake South uranium project in Saskatchewan, allowing it to retain full control of the project, as reported by Mining Weekly. The exemption was obtained as part of Paladin’s acquisition of Fission Uranium in December 2024. It allows Paladin to advance the project towards commercial production, which is estimated to begin in 2029, and to develop key uranium assets without foreign ownership restrictions.  

Calgary-based Summit Nanotech has secured US$25.5 million in funding to speed up the commercialization of its direct lithium extraction (DLE) technology, as reported by Canadian Mining Journal. The funds will support the company’s transition of the technology from demonstration to full-scale commercial design, enhancing its DLE process, which captures lithium ions from brine that can then be sold to battery manufacturers.  

Multinational commodities traders, such as Trafigura Group, Glencore Plc and Gunvor Group, are redirecting large copper shipments originally headed to Asia to the U.S. due to concerns over U.S. President Donald Trump potentially imposing tariffs on imported copper, as reported by Bloomberg. Between 100,000 and 150,000 tonnes of refined copper is expected to arrive in the U.S. soon. This surge of shipments is driven by traders rushing to deliver copper to the U.S. before potential tariffs could be imposed. Trump’s calls for a probe into potential copper tariffs have caused a pricing differential that incentivizes rerouting shipments of the red metal. 

Vale’s Stobie mine revitalization project is being driven by strong partnerships with multiple Indigenous-owned companies in the Sudbury basin region, contributing valuable expertise and resources to the $205 million initiative, as reported in the February issue of CIM Magazine. These collaborations are generating jobs and driving economic growth in local communities, while offering opportunities in key operations such as drilling and ore crushing. 

As more women join the mining industry, there is a growing need for strategies to protect them from reproductive hazards, as reported by Dinah Zeldin for the February issue of CIM Magazine. Nancy Wilk, one of the advocates interviewed for better workplace health and safety, emphasized that despite improvements, many companies lack sufficient knowledge to support pregnant workers. Barriers include inadequate health care at remote sites and limited research on reproductive risks. Experts are calling for more data, training and leadership to ensure the health and well-being of women in mining, fostering safer and more inclusive workplaces. 

That’s all for this week. If you’ve got feedback, you can always reach us at editor@cim.org. If you’ve got something to add, why not join the conversation on our Facebook, Twitter, LinkedIn or Instagram pages?