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Energy Department to Use Defense Production Act Funding to Restart American Refinery and Expand Refining Capacity

Energy Department to Use Defense Production Act Funding to Restart American Refinery and Expand Refining Capacity

The Trump administration, on October 22, 2026, announced a significant initiative to bolster domestic petroleum refining capacity by allocating up to $150 million in Defense Production Act Title III funding. This move, championed by President Donald J. Trump and U.S. Secretary of Energy Chris Wright, aims to expand the production, storage, and logistics of gasoline, diesel, and jet fuel across the United States, promising increased energy security and potentially lower fuel prices for American consumers and businesses. The investment underscores a strategic shift towards "energy addition policies" and is deemed critical for national defense, presenting broad implications for energy-intensive sectors like mining.

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Cornish Metals raises $181m to fund South Crofty tin project in UK

Cornish Metals raises $181m to fund South Crofty tin project in UK

Cornish Metals has successfully closed a significant fundraising round, securing £135 million ($181 million) to fully finance its South Crofty tin project in Cornwall, UK. This substantial capital injection, derived from a diverse mix of institutional, strategic, and retail investors including the UK National Wealth Fund, VBR, and Glencore, positions the company to proceed with the final investment decision and target first tin production by mid-2028. The development marks a critical step in revitalizing a historic UK mining region and enhancing global supply of this increasingly vital critical mineral.

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Metals One agrees terms to acquire full stake in Lions Bay Resources

Metals One agrees terms to acquire full stake in Lions Bay Resources

Metals One has announced a binding term sheet to fully acquire Lions Bay Resources (LBR), consolidating its ownership of LBR's South African gold and power assets. This strategic move, dated October 23, 2026, aims to establish Metals One at the forefront of a significant gold mining opportunity, primarily centered around the Barbrook Gold Mine, which boasts an historical gold resource of 2.1 million ounces and a targeted production restart within six months. The transaction, involving a combination of debt conversion and a share-for-share acquisition, is designed to streamline operations, facilitate capital market access, and leverage a robust operating team for South African growth.

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Energy Department Authorizes Exchange from Northeast Home Heating Oil Reserve

Energy Department Authorizes Exchange from Northeast Home Heating Oil Reserve

The U.S. Department of Energy has authorized an exchange of up to 315,000 barrels of ultra-low sulfur distillate from the Northeast Home Heating Oil Reserve to address immediate supply chain disruptions and mitigate rising heating oil costs in the Northeast. This temporary measure, set for completion by November 13, 2026, highlights critical vulnerabilities in national energy supply chains and underscores the broader challenges facing energy-intensive industries, including mining, regarding fuel availability and pricing stability.

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Krait secures exclusive option to acquire Nevada mining claims

Krait secures exclusive option to acquire Nevada mining claims

Krait Critical Minerals has secured an exclusive option to acquire 17 federal mining claims in Humboldt County, Nevada, from Sierra Antimony, targeting a historical high-grade antimony production site. This strategic move, involving staged cash and share payments over two years, positions Krait to expand its critical minerals footprint in the U.S., leveraging antimony's increasing importance in defense, advanced manufacturing, and industrial supply chains. The agreement sets the stage for Krait to conduct technical and geological assessments, aiming to identify future exploration targets on a property known for significant historical antimony output.

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SAGA concludes first drill programme at Labrador Wolverine project

SAGA concludes first drill programme at Labrador Wolverine project

SAGA Metals has successfully concluded its inaugural 3,241-meter diamond drilling campaign at the fully owned Wolverine Heavy Rare Earth Element Project in Labrador, Canada, a significant step in systematically assessing the site's critical mineral potential. The 22-hole program confirmed the presence of target alteration assemblages indicative of rare earth element mineralization across all drilled holes, with two holes, W26-001 and W26-002, revealing extensive altered volcanic rock and a targeted Unit 4 sequence. Alongside drilling, prospecting activities identified new REE-hosting volcanic units, pegmatites, and aplite dykes, significantly expanding the prospective footprint for future exploration, with assay results pending and an induced polarisation survey planned for Q2 2027 to guide further development.

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BHP reports decline in Q1 FY27 copper production

BHP reports decline in Q1 FY27 copper production

BHP reported a 19% decline in copper production for the first quarter of financial year 2027, primarily due to operational disruptions, planned lower feed grades, and severe weather impacts across its Chilean and South Australian assets. Despite these challenges, the company maintained its full-year copper guidance and saw a significant 53% increase in its provisional average realized copper price, reaching $7.01/lb. Meanwhile, iron ore and coal production registered increases, underscoring the benefits of BHP's diversified portfolio amidst a volatile global market.

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Gladiator initiates expanded exploration at Whitehorse Copper Project

Gladiator initiates expanded exploration at Whitehorse Copper Project

Gladiator Metals has significantly escalated its exploration efforts at the wholly owned Whitehorse Copper Project in Canada’s Yukon Territory, deploying a fifth drill rig to accelerate definition across the promising 2km Arctic Chief trend. This expanded program, backed by a C$40 million budget for 2026-27, targets near-surface copper mineralization with over 100,000 meters of planned drilling, aiming to establish new resource opportunities and strengthen the project's economic viability. The move signals Gladiator’s commitment to advancing a key Canadian copper asset amidst rising global demand for critical minerals.

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Energy Department Advances Constitution Pipeline Project with $42 Million in Defense Production Act Funding

Energy Department Advances Constitution Pipeline Project with $42 Million in Defense Production Act Funding

The U.S. Department of Energy (DOE) has announced up to $42 million in Defense Production Act (DPA) Title III funding for the Constitution Pipeline Project, a proposed 125-mile natural gas pipeline stretching from Pennsylvania to New York. This strategic investment, made on October 19, 2026, aims to enhance energy security, reduce costs for consumers and businesses in the Northeast, and bolster the nation's defense industrial base by ensuring reliable access to natural gas. The move underscores a federal commitment to critical infrastructure development and has significant implications for energy-intensive sectors, including the mining industry.

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