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Rio Tinto, LCL sign agreement for Ono Project in Papua New Guinea

2026-03-24

In a significant development for the Pacific region's mining sector, Rio Tinto Exploration has formalized an earn-in agreement with LCL Resources for the Ono Project in Papua New Guinea (PNG). This partnership, announced on March 23, 2026, positions Rio Tinto to invest substantial capital and expertise, with an initial commitment of A$8 million, to explore for porphyry copper-gold deposits within the highly prospective Owen Stanley Metamorphic Belt. The deal provides LCL with critical funding while allowing its shareholders to retain exposure to potential major discoveries, underscoring PNG's enduring appeal for world-class mineral resource development.

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Recent Articles

Trump Administration Keeps Indiana Coal Plants Open to Ensure Affordable, Reliable and Secure Power in the Midwest

2026-03-24

On March 23, 2026, U.S. Secretary of Energy Chris Wright issued emergency orders to temporarily keep two Indiana coal-fired power plants, R.M. Schahfer and F.B. Culley, operational from March 24, 2026, through June 21, 2026. These plants, originally slated for retirement by the end of 2025, are deemed crucial for maintaining grid reliability and ensuring affordable electricity in the Midwest, following concerns raised by MISO and NERC about increasing blackout risks amidst a national energy transition. This action highlights the ongoing strategic importance of thermal coal to national energy security, providing a critical, albeit temporary, demand signal for the mining sector.

Canadian Uranium signs agreement to acquire Rook 2

2026-03-24

Canadian Uranium has announced an agreement to acquire Rook 2 Uranium, securing an exclusive option over 21 mineral claims spanning approximately 18,941 hectares in Saskatchewan's prolific Athabasca Basin. This strategic acquisition, involving a share exchange valued at 9,663,156 Canadian Uranium shares, positions the company to capitalize on a property described as having a "historic resource" within a world-renowned uranium district, signaling significant future growth and a strengthening of its asset portfolio in a buoyant uranium market.

Centaurus gets $190m in funding for Jaguar project

2026-03-24

Centaurus Metals has secured a crucial, non-binding Letter of Intent from Brazil's development bank, BNDES, for C$1 billion reais (approximately $190 million USD) in potential long-term debt funding for its Jaguar Nickel Project. This development, situated in Brazil's strategic Carajás Mineral Province, underscores the project's significance as a future supplier of responsibly produced nickel crucial for the global energy transition, aligning with BNDES's focus on critical minerals. The indicative funding will undergo further rigorous due diligence before final approval, positioning Jaguar as a key asset in the burgeoning battery metals sector.

NSW to stop accepting new coal mine applications

2026-03-23

New South Wales, Australia, a significant global coal exporter, announced on March 20, 2026, it will cease accepting new greenfield coal mine applications while permitting expansions of existing operations under stringent environmental and emissions standards. This strategic shift, outlined in the "NSW Coal Industry 2026–50" plan, simultaneously aims to meet net-zero targets by implementing strict methane emission regulations through its Environmental Protection Authority (EPA) and support coal-reliant communities via a new Future Jobs and Investment Authority, reflecting a complex balancing act between economic imperatives and environmental commitments.

Energy Department Announces Partnership to Ensure Affordable Energy and Power America’s AI Future

2026-03-21

The U.S. Departments of Energy and Commerce, in partnership with SoftBank’s SB Energy and AEP Ohio, have announced a transformative $37.5 billion public-private initiative to redevelop federal land in Southern Ohio. This ambitious project aims to construct 10 gigawatts of new power generation, primarily natural gas, to fuel a colossal 10-gigawatt data center facility, significantly advancing America’s artificial intelligence capabilities and modernizing regional energy infrastructure. The initiative is poised to generate thousands of jobs, reduce electricity costs, and bolster national security, with substantial implications for the upstream natural gas sector and critical minerals supply chains.

Lynas announces first samarium oxide output in Malaysia

2026-03-21

Lynas Rare Earths has commenced initial production of samarium oxide at its Lynas Malaysia facility, significantly ahead of its initially forecast April 2026 schedule. This achievement expands Lynas' heavy rare earth oxide product range to three, reinforcing its critical role as the only commercial producer of separated heavy rare earths outside of China and contributing to the global diversification of critical mineral supply chains. The development is a key milestone in the company's "Towards 2030" growth strategy, aiming to substantially increase its heavy rare earth processing capabilities over the next two years.

Freeport plans $7.5bn boost to Chile’s El Abra copper output

2026-03-21

Freeport-McMoRan has applied for environmental approval for a substantial $7.5 billion expansion project at its El Abra copper mine in Chile, signaling a critical move to boost global copper supply. If approved, the project, which includes new concentrator and desalination plants, is anticipated to commence operations in 2033, increasing annual copper output by more than 300,000 tonnes to meet soaring demand from electrification and AI sectors. This development unfolds amidst an evolving regulatory climate in Chile, with new governmental efforts to streamline permitting processes and attract significant foreign investment into the nation's vital mining sector.

Talisman concludes sampling work at Fougnar Copper-Silver Project

2026-03-20

Talisman Metals has announced the conclusion of significant initial fieldwork at its Fougnar Copper-Silver Project in Morocco, encompassing stream sediment sampling, extensive transient electromagnetics (TEM) surveys, and preliminary trenching. Early data indicates promising zones of strong conductivity and visible copper mineralization, which will now undergo detailed analysis to refine drill targets. This progress marks a critical step in understanding the subsurface potential of Fougnar, contributing to Talisman's growing exploration footprint in the Moroccan mineral landscape.

Rox Resources approves FID for Youanmi Gold Project

2026-03-20

Rox Resources has officially approved the Final Investment Decision (FID) for its fully owned Youanmi Gold Project in Western Australia, signaling immediate commencement of significant construction activities. This pivotal decision, following the approval of the Mine Development and Closure Proposal amendment, positions the project as fully funded with A$350 million in credit and A$218 million from capital placements, targeting its first gold pour by mid-2027. The project's progression underscores its robust funding strategy and adherence to a critical development timeline within the region's prominent gold sector.

Energy Department Announces $500 Million to Strengthen Domestic Critical Materials Processing and Manufacturing

2026-03-19

The U.S. Department of Energy (DOE) has announced a Notice of Funding Opportunity (NOFO) for up to $500 million, aimed at significantly expanding domestic critical mineral and materials processing, derivative battery manufacturing, and recycling capabilities. Revealed on March 13, 2026, by the DOE's Office of Critical Minerals and Energy Innovation (CMEI), this funding initiative marks the third round of investment in strengthening the nation's battery supply chains, targeting key minerals like lithium, graphite, nickel, copper, and aluminum crucial for defense, grid resilience, and transportation sectors. This strategic move emphasizes reducing reliance on foreign actors, bolstering national security, and positioning the U.S. for energy dominance amidst rising global demand for advanced energy technologies.