Mining Updates for Critical Minerals Investors

🚨 Fast-Tracked Mining Projects: A New Era for U.S. Critical Minerals 🇺🇸⛏️ The federal government has officially designated several high-priority mining projects for FAST-41 permitting, streamlining the path for vital resource development. These projects span the country—and the periodic table—targeting materials essential for everything from EV batteries and fertilizer to semiconductors and defense systems. 🗺️ I made a visual map of these projects (see graphic!) to help illustrate just how widespread and strategically important they are. Highlights include: Stibnite, ID – Antimony & gold McDermitt, OR – Lithium Southwest AR – Brine-based lithium Silver Peak, NV – Lithium expansion Blue Creek, AL – Metallurgical coal Caldwell Canyon, ID – Phosphate Michigan Potash, MI – Potash & salt Lisbon Valley, UT – Copper (in-situ) Libby, MT – Silver & copper Resolution Copper, AZ – One of the largest undeveloped copper resources in North America 🔗 FAST-41 doesn’t cut corners—it aligns agencies, creates timelines, and increases accountability. It’s about getting to “yes” or “no” faster, without compromising environmental standards. 📉 Why it matters: The U.S. is still heavily import-reliant for many of these materials. These projects represent a critical step toward supply chain security, energy independence, and economic resilience. 🎙️ We dove into these projects in our latest episode of Mine EX-Plorers, breaking down what they mean for the mining industry, national security, and the future of American resource development: https://lnkd.in/g6HjB22M #Mining #CriticalMinerals #FAST41 #MineralPolicy #MineEXPlorers #EnergyTransition #Lithium #Copper #Antimony #Potash #PermittingReform #MadeInAmerica

𝗠𝗶𝗻𝗶𝗻𝗴 𝗶𝘀 𝗵𝗼𝘁 𝗳𝗼𝗿 𝗮 𝗿𝗲𝗮𝘀𝗼𝗻 - 𝗶𝘁’𝘀 𝗯𝗲𝗶𝗻𝗴 𝗿𝗲𝗱𝗲𝗳𝗶𝗻𝗲𝗱. Mining has long sat in the background of capital markets. Often lumped in with the broader commodity markets and seen as slow, capital-intensive, and lacking technological progression. Important, but not investable. Strategic, but stagnant. Well, that narrative is breaking. Critical minerals, while always seen as national security assets, have ascended to a top national priority. Electrification, AI infrastructure, and defense supply chains are all colliding with a system that historically took 10+ years to deliver a new mine - if delivered at all. Meanwhile, discovery rates are collapsing while permitting timelines are stretching, further compounding capital risk. Due to this growing demand gap and market tailwinds, we spent the last few months mapping where the real bottlenecks and areas of venture-scale opportunity across the mining value chain sit, touching on: ⛏️ Exploration and feasibility - the binding constraints 🤖 Use of AI - sensing are collapsing the drill → data → decision loop ⏱️ Time-to-value matters - often more than technical novelty 💰 Moving multiples - how tech can move assets from “mining multiples” to “growth industrial” outcomes 📊 Business model innovation - why royalty-like, equity-linked models may matter as much as the tech itself The result is a framework for evaluating mining-tech opportunities via capital intensity vs. time-to-value, with a focus on cycle-time compression, risk reduction, and scalable value capture. And the best part? This isn’t just theory, we’re already seeing signals in OEM offtake behavior, upstream verticalization, and a new generation of founders treating mining as a potentially data-rich industry ripe for transformation. If you’re building, investing in, or navigating mining, minerals, or industrial AI — give it a read and let’s compare notes! As they say these days, the [VCs] yearn for the mines ⛏️ [Link to full piece in comments, also drop a comment if you want the spreadsheet backup to the market map] CC: Cathay Innovation, Simon Wu, Elijah Yi, Rose Yuan, Jaclyn Hartnett, Daniela Caserotto Leibert #Mining #CriticalMinerals #IndustrialTech #AI #EnergyTransition #VentureCapital #Reindustrialization

Who’s shaping the ~$20T deep sea mining race? This green (or blue) field frontier is rapidly opening even as the rules are still being written. At stake: geopolitical stability, resources for our green and AI revolutions, the international legal order, the real risk of sacrificing ocean ecosystems for short-term mineral access. We partnered with the ADVISORY COMMITTEE ON PROTECTION OF THE SEA (ACOPS)'s experts to map the emerging power networks. Our Genie large stakeholder model captured 300+ key stakeholders across operators, state-backed initiatives, dormant entities, subsea tech providers and financing vehicles. What we found: → 15 highly networked power clusters shape this future. 7 are private sector-led while 8 are government-backed efforts. → The race will come down to License to Operate vs License to Innovate. The Metals Company doubles down on a parallel legal track outside the International Seabed Authority. Global Sea Mineral Resources, CIC Ocean Research and others draw on years of context but are capital deprived. Impossible Metals Inc. pitch robotics as a technological workaround to environmental problems. The winners will pitch both. → ‘During a gold rush, sell shovels’. Allseas, Transocean, Boskalis, TechnipFMC, Royal IHC are underwriting the ecosystem with ships, systems, and capital. → National champions matter. Lockheed Martin is back in the game, Korea Zinc Company, Ltd (고려아연) has just invested, China is hard at work with COMRA and Minmetals anchoring their efforts. Japan, Korea, India, Brazil and Nordic operators are laying the groundwork. The Pacific island states remain divided. Why this matters now: → DSM is forcing a convergence of minerals, maritime, and sovereign policy → Private actors are playing a geopolitical game → It’s creating a new dependency layer beneath critical mineral supply chains The stakes are high. Want an exclusive A2 high-res version? Reply "Map pls" and we’ll send it directly. #DeepSeaMining #CriticalMinerals #EnergyTransition

U.S. and Ukraine Sign Critical Minerals Deal: Why Critical Minerals Are the Next Global Battleground The U.S. and Ukraine announced a minerals agreement after months of tense negotiations, signaling how urgently world powers are moving to secure supplies of the metals that power our modern lives. While most headlines focus on tariff spikes and shifting trade corridors, there’s another power struggle unfolding—one that could reshape every smartphone, EV, and fighter jet on the planet. 🔑 Why Critical Minerals Matter • 🔋 Clean-energy pivot: Lithium, nickel & cobalt power EV batteries; rare earths drive wind turbines. • 🚀 Tech & defense edge: Gallium, titanium, tungsten and tantalum are crucial for semiconductors, aerospace, and precision munitions. • 📈 Soaring demand: Battery metal demand could grow 10× by 2030—far outpacing current mining capacity. 🌍 Who Holds the Keys • 🇨🇳 China: Dominates rare-earth processing (~70%). • 🇷🇺 Russia: Rich in titanium, palladium, and rare-earths—crucial for aerospace and electronics. • 🇨🇩 DRC: Supplies ~60% of cobalt, much refined by Chinese firms. • 🇧🇷 Brazil & 🇮🇩 Indonesia: Major players in nickel and niobium. • 🇿🇦 South Africa: Key source of platinum group metals and manganese. • 🇺🇦 Ukraine: Partnered with the U.S. after months of tense talks to develop rare-earth and lithium capacity. • 🇦🇺🇺🇸 Australia & U.S.: Leading lithium producers investing in processing independence. • 🇪🇺 EU & 🇨🇦 Canada: Fast-tracking exploration & streamlining permitting via the EU’s Critical Raw Materials Act. 🌐 A Web of Interdependence No single country can source, refine, and secure all it needs. Global supply chains are deeply entangled—and increasingly strategic. 📊 Governments Are Racing to Lock In Supply • 🇺🇸 U.S.: New MOU with Ukraine, talks with DRC, Inflation Reduction Act incentives. • 🇨🇦 Canada: Extended 15% tax credit and streamlined mining approvals. • 🇪🇺 EU: €9M joint procurement platform and 47 flagship projects. • 🌏 Elsewhere: Japan–GCC partnerships; Australia expanding into Africa and SE Asia. ⚠️ Risks & Opportunities • Geopolitical chokepoints and export curbs • ESG pressure on mining operations • First-mover gains in processing and recycling 🧭 What You Can Do Now 1. Map your mineral dependencies to uncover single-source vulnerabilities 2. Engage policymakers early on offtake deals and ESG standards 3. Use scenario planning and risk assessments to prepare for disruptions 4. Invest in crisis management and resilience strategies before they’re needed In today’s interdependent world, no company—or country—can afford to go it alone. Helping organizations plan for disruption and global complexity is what we do. If you’re looking to strengthen your approach, we’d be happy to help.

The irrational exuberance is fading & that's a good thing. Retail hype is moving on, battery metal ETFs are quiet, & even the Twitter geologists have slowed down. However, the spotlight is still (rightfully) on mining. This sector has global attention. The challenge now is to convert that attention into capital deployed, tonnes produced, and supply chains built. Here’s how I think 2026 will actually play out: 🔹 Copper will be King: new money, new buyers, new urgency, but short supply. 🔹 Project finance is back to fundamentals: throughput, margin, timeline. Supply security is not a substitute for cash flow. 🔹 Brownfield projects are getting capital first: permitted power, roads, and infrastructure matter more than ever. Local support isn’t optional. 🔹 Middle East capital continues to be very active: they are not window shopping; they are wiring. 🔹 The US government is building a real critical minerals portfolio: It’s not always predictable, but it’s moving capital in ways few thought possible. Programs that didn’t exist three years ago are now driving entire project pipelines. 🔹 OEMs are negotiating with real discipline: No more offtake for headlines; now it’s pricing structure, timelines, and delivery risk. 🔹 2021 PEAs are being rewritten quietly: Inflation caught up to the models. Strip ratios widen, capex assumptions break, and IRRs settle back to earth. 🔹 Metallurgy will force multiple strategy resets: Recovery is expensive. Multi-step / unproven flowsheets are hard to fund... particularly when you are, say, pulling from the bottom of the ocean... 🔹 Recycling will see high-profile failures and real consolidation. The players with feedstock and process control will acquire the rest. Scrap supply is not infinite. 🔹 A few gold juniors who rebranded as [name your sexy metal] plays will suddenly be chasing gold again: $4,500 gold is very persuasive. Mining doesn’t need more headlines. It needs more executed term sheets, permitted sites, and tonnes on ships. The capital is out there & the spotlight is still on. 2025 was about the world waking up to the critical mineral challenge facing us. 2026 is about real projects attracting real capital and actually getting developed. #CriticalMinerals #MiningFinance #ProjectDelivery #UnitEconomics #EnergyTransition #CapitalDiscipline

I’m pleased to share our new analytical report, “Kazakhstan as a Minerals Investment Hub: Unlocking Potential through the AIFC,” prepared by our experts in collaboration with GWM Capital Ltd. At the AIFC, we view the mining sector as one of Kazakhstan’s pillars for sustainable growth and a vital contributor to the global energy transition. The report provides a comprehensive overview of Kazakhstan’s mining industry from its current state and challenges to the pathways for attracting investment through the AIFC. It highlights Kazakhstan’s rich mineral base from uranium and copper to gold and rare earth elements, and the country’s growing role in meeting global demand for critical minerals. In 2024, the mining sector contributed KZT 16.1 trillion (12% of GDP) and attracted USD 3 billion in foreign investment, twice as much as five years ago, a clear signal of growing international confidence in Kazakhstan as a reliable and sustainable partner. Early-stage mining projects require both private capital and government support. As companies progress toward JORC-level reporting, new financing opportunities from IPOs on the Astana International Exchange (AIX) to partnerships with SPACs listed on the Toronto Stock Exchange (TSX) arise. The report also highlights how the AIFC provides financial infrastructure and access to capital for such companies. Enhancing financing mechanisms for early-stage exploration and expanding domestic refining capacity are critical next steps. The AIFC serves as a platform for attracting international investment into Kazakhstan’s mining sector, providing companies with financial infrastructure and access to capital through a special legal regime, the Astana International Exchange - AIX, a favorable business environment, and opportunities for partnerships and deal structuring. With continued improvements in regulation and financial infrastructure, and through the unique AIFC ecosystem combining transparent governance, international legal standards, access to capital, and investor support Kazakhstan is well-positioned to strengthen its role as a trusted global supplier of critical minerals. The global market is rapidly shifting towards growing demand for critical minerals. To meet the surging demand of the world economy, the global mining industry is projected to require at least USD 2.1 trillion in investment by 2050. These funds are essential to ensure a sustainable energy transition, diversify supply chains, and create new mining and processing capacities. Read the full report below and I’d be glad to hear your thoughts.

Africa is shaping tomorrow’s critical minerals value chains Africa’s role in global battery, EV, defense, and renewable energy supply chains is no longer just about extraction. Governments are using targeted policy tools to support domestic industrialization while remaining open to collaboration and investment. Our January 2026 Africa Critical Minerals Policy Brief highlights five important shifts:     DRC – Cobalt: Export quotas now regulate volumes and stabilize supply, giving the government leverage to encourage domestic processing — though partnerships are not legally mandated.    Zimbabwe – Lithium: Bans on lithium ore exports and planned bans on concentrates are driving battery-grade refining and attracting industrial FDI.     Ghana – Green Minerals: Export restrictions and mandatory beneficiation are designed to build domestic processing capacity across lithium, bauxite, and other green metals.     Namibia – Critical Minerals: Raw mineral exports require ministerial approval, making the government a gatekeeper of downstream value creation.     Pan-African Trend: Across multiple countries, local-value policies are emerging in parallel — not as a single coordinated bloc, but as a clear shift toward industrializing mineral wealth. These policies are not about coercion. They reflect development priorities, including jobs, industrial capacity, and more resilient global supply chains, which are built through partnerships, co-investment, and aligned incentives. Africa is no longer just a supplier of minerals. It is shaping the platforms on which future value chains will be built. #Africa #CriticalMinerals #ValueChains #BatteryIndustry #EVs #IndustrialPolicy #Mining #StrategicInvestment #SustainableDevelopment

Rarely in history has the Federal Government taken an equity stake in raw‐material companies - and now it’s doing exactly that in critical minerals. The strategy may draw parallels with the 2008 bank bail-out or 2020 airline support...but this time the target is rare earths, lithium, copper and other essential feedstocks. Yesterday Vulcan Materials Company and ReElement Technologies announced a $1.4BN deal with the Federal Government (Congrats to them!). This follows direct investments for a 15 % stake in MP Materials; 10 % in Trilogy Metals Inc.; 5 % in Lithium Americas Corp...and many more. Why now? Because many of these minerals (e.g., rare earths, lithium, copper) are fundamental to key sectors like EVs, renewable energy, defense, and most electronics. The domestic supply chain is a strategic vulnerability as it stands today. This has some short-term effects: 1. Boost in stock prices across the critical-minerals sector as investors interpret government backing as risk mitigation. 2. Greater ability for developers to raise capital, pivot to production faster, thanks to government endorsement. But long-term effects are critical (pun intended!): This is a structural change in how feed-stocks are sourced, priced and controlled...companies with the most processing capacity AND the most feedstock will win...and we will eventually reduce dependency on foreign processors. Price floors, offtake guarantees, processing mandates may become part of the playbook in this sector. For business leaders in the critical-minerals industry: - Understand your feedstock assets - not just processing capacity, but feedstock access, like embedded material forecasts in deployed electronic infrastructure. - Consider the role of proactive asset appraisals, valuations, and efficient reverse logistics strategy as key leverage for winning in this market. I found this visualisation of the government recent direct investments fascinating…. It’s worth noting that most of these companies have been working on essential strategic technologies for decades so “luck” is just a small part of why they’re getting direct support from the federal government.

Is the era of mining mega-deals making a comeback? In early 2025, Rio Tinto’s $6.7 billion lithium acquisition in Argentina marked more than a headline, it signaled the return of mega-deals to mining. BHP, Glencore, and Anglo American already reignited copper and nickel talks worth over $40 billion in 2024 - 2025. Recently, the US and Australia have signed a deal to support $8.5B in “ready-to-go” projects to expand mining and processing capacity. There is sudden momentum- 👉 Because critical minerals are no longer just resources - they’re geopolitical leverage. 👉 Copper demand is expected to surge 35% by 2030 as electrification accelerates. 👉 Lithium demand is forecast to triple by 2035, fueling the battery revolution. 👉 Rare earths remain China’s stronghold refining over 60% of global supply spurring new alliances like the U.S.- Australia Critical Minerals Partnership. Technological integration is also breathing new life into the mining sector- 👉 Direct Lithium Extraction (DLE) is transforming brine recovery in Argentina, Chile, and Germany - cleaner, faster, and more efficient. 👉 AI-driven exploration by firms like KoBold Metals is identifying billion-dollar deposits in Zambia and Canada. 👉 Reprocessing tailings could reclaim millions of tonnes of copper in Chile, redefining waste as strategic inventory. Governments are now funding resilience. The winners won’t just own the mines; they’ll own the methods that make mining sustainable and data-driven. #Mining #CriticalMinerals #Lithium #Copper #AI #EnergyTransition #Sustainability #Geopolitics #Innovation