RECOGNISING COAL’S CONTINUING ROLE

Ahead of COP31 in Türkiye, taking place between 9th and 20th November 2026, FutureCoal has urged climate negotiators to recognise the importance of energy security, affordability, and industrial development alongside emissions-reduction ambitions.

In the lead-up to COP31, FutureCoal has challenged climate negotiators to move beyond political declarations and address the practical realities shaping global energy systems, arguing that energy security, affordability, and industrial development must remain central to climate discussions.

This year’s COP summit comes amid renewed attention to reliable energy supplies and the technologies needed to balance economic development with environmental performance. However, FutureCoal CEO Michelle Manook believes international climate negotiations risk repeating the shortcomings of previous summits.

Reflecting on the progress made since COP26 in Glasgow, Manook warns that discussions have too often prioritised political language over meaningful outcomes.

“Five years ago, following COP26 in Glasgow, I warned that climate negotiations were becoming an exercise in wordsmithing rather than delivering meaningful outcomes. Every summit since has reinforced that concern.”

For FutureCoal, addressing this imbalance means recognising coal’s continuing role in electricity generation and industrial development, whilst placing greater emphasis on improving how the resource is extracted, processed, and used.

RETHINKING THE ROLE OF COAL IN ENERGY SECURITY

Manook argues that energy security should never have been separated from the wider climate conversation, especially given the importance of affordable, dependable energy to industrial economies and developing nations.

“Energy security should never have been taken off the table. Coal remains fundamental to electricity generation and industrial development across much of the world. The question should not be how quickly we eliminate it, but how we improve the way it is mined, processed and used.”

In line with this position, FutureCoal is calling for broader access to finance and regulatory approvals for technologies that can deliver measurable emissions reductions. These include carbon capture and storage, higher-efficiency generation, and methane abatement.

The organisation also supports developing renewables alongside coal as part of diversified energy systems, arguing that investment decisions should be guided by environmental performance rather than fuel type alone.

ADVANCING HIGHER-VALUE COAL APPLICATIONS

Beyond electricity generation, FutureCoal highlights coal technologies’ potential to support industrial production and reduce exposure to volatile international markets.

China, for example, is converting domestic coal into chemicals, fertilisers, and synthetic fuels, while India is advancing coal gasification to strengthen domestic industrial production. South Africa, meanwhile, has used coal-derived fuels and chemicals for decades.

These developments reflect FutureCoal’s Sustainable Coal Stewardship (SCS) strategy, which promotes greater efficiency, emissions management, and higher-value applications across the coal value chain.

Through this approach, the organisation advocates for a broader consideration of coal technologies, focusing on opportunities to improve industrial processes and manage emissions rather than viewing the resource exclusively through the lens of electricity generation.

BRINGING INDUSTRY INTO THE CLIMATE CONVERSATION

As COP31 approaches, FutureCoal believes greater collaboration between policymakers, industry, engineers, and technology developers will be essential to translating climate ambitions into practical outcomes.

The summit’s guiding principles of “Dialogue, Consensus, and Action” provide an opportunity to encourage more inclusive discussions, particularly around the needs of developing economies where access to reliable and affordable energy remains essential.

Manook also reiterates FutureCoal’s longstanding position that countries should retain the flexibility to pursue energy solutions suited to their individual circumstances.

“Since the Paris Agreement in 2015, FutureCoal has consistently advocated for the recognition of all fuels and all technologies. Countries must have the freedom to pursue solutions suited to their national circumstances.

“If COP31 is serious about turning dialogue into action, it must bring industry into the conversation and recognise the technologies already being developed and deployed. A more inclusive approach offers a stronger foundation for meaningful climate action.”

Ultimately, FutureCoal is calling for a more pragmatic and collaborative approach to international climate negotiations, one that recognises the complexities of global energy systems while placing greater emphasis on technological development, industrial requirements, and measurable environmental progress.

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AMBITIOUS STRATEGY

CVMR Corporation, through its subsidiary CVMR Centrafrique, is pursuing an ambitious strategy to transform the Central African Republic’s (CAR) mineral resources into high-value industrial products, establishing an integrated mineral-to-metal value chain within the country.

Launched in Bangui on October 24th, 2026, the initiative operates under a 25-year partnership with the CAR government, supported by President Faustin-Archange Touadéra and his administration. By attracting foreign direct investment, strengthening local enterprises, and developing domestic refining capabilities, the partnership aims to support economic diversification while increasing export and state revenues.

At its core, the strategy seeks to move beyond natural resource extraction, enabling the Central African Republic to capture greater value through downstream processing, advanced manufacturing, and technology transfer.

CONNECTING MINERAL RESOURCES WITH ADVANCED METALLURGY

Central to CVMR’s approach is its proprietary vapour metallurgy technology, which enables the production of high-purity metals, powders, nano-powders, advanced alloys, and precision-engineered near-net-shape components.

Through an integrated operating model, the company intends to connect exploration, extraction, and processing with advanced refining and manufacturing, creating a more comprehensive domestic industrial ecosystem.

Kamran Khozan, CEO of CVMR Corporation, highlights the importance of developing these capabilities within resource-producing countries.

“The strategic importance of mineral resources is determined not only by where they are found, but also by where they are refined and transformed into products that industries actually use. Our approach is to connect mineral development with advanced metallurgical capabilities, allowing resource-producing countries to participate more meaningfully in the value chain while contributing to the diversification of international critical mineral supplies.”

Development will progress through resource assessments, feasibility studies, and phased deployment, with facility designs determined by technical and commercial viability. To support the proposed operations, CVMR has also secured electricity arrangements through three diversified energy sources.

BUILDING INDUSTRIAL CAPABILITIES WITHIN AFRICA

Beyond establishing processing and manufacturing infrastructure, the partnership places considerable emphasis on developing local expertise and creating long-term employment opportunities.

Vocational training, technology transfer, and opportunities for Central African engineers, geologists, metallurgists, and technicians form important components of the initiative. By developing technical knowledge alongside industrial infrastructure, CVMR aims to establish a foundation for sustained domestic participation in the mineral value chain.

Dr. Poly Mutombo, President of African Operations at CVMR Corporation, explains the importance of this approach:

“Developing a sustainable mineral industry requires more than identifying deposits and establishing extraction operations. It requires the infrastructure, technical expertise, and refining capabilities necessary to transform those resources into valuable industrial products. Our objective is to build those capabilities within the Central African Republic and to establish a foundation for long-term industrial participation and economic development.”

LINKING DOMESTIC PRODUCTION TO INTERNATIONAL SUPPLY CHAINS

The planned industrial output is intended to serve a range of strategically important sectors, including aerospace, energy, electronics, and advanced manufacturing, as well as the Canadian and United States defence industrial bases.

The initiative also builds on an authorisation granted by the CAR Ministry of Defence in December 2025 to support satellite-based geoscientific exploration and mineral mapping.

By linking domestic mineral development and refining with international industrial demand, CVMR aims to diversify critical mineral supplies while creating new opportunities for the Central African Republic to participate in global markets.

For the Toronto-based company, with more than 40 years of experience and operations across 23 countries, the partnership offers an opportunity to apply its expertise in exploration, mining, refining, engineering, and manufacturing to support a longer-term industrial development strategy in Central Africa.

Ultimately, CVMR’s vision extends beyond resource extraction, placing domestic value creation, technical capabilities, and international market participation at the centre of its approach to the Central African Republic’s mineral future.

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Expanding Battery Materials Production

Nano One Materials has begun expanding its lithium iron phosphate (LFP) cathode production facility in Candiac, Québec, with annual capacity expected to reach approximately 800 tonnes in 2027.

The Canadian battery materials company has also extended its commercial qualification programme, with an initial supply agreement now expected in the first quarter of 2027.

The developments come as Nano One works to establish regional battery materials supply chains, supported by collaborations with mining and engineering companies including Rio Tinto, Sumitomo Metal Mining and Worley.

Candiac Expansion

Detailed engineering for the Candiac expansion was completed in September 2026, with construction now underway.

Work is expected to finish in the first quarter of 2027, followed by commissioning in the second quarter.

Automation upgrades to the facility’s demonstration line will increase total LFP cathode active material (CAM) production capacity to approximately 800 tonnes per annum during the first half of 2027.

The expanded line will incorporate Nano One’s One-Pot reactor technology alongside automated drying, calcining and packaging processes.

It will support commercial production and provide tonne-scale samples for battery manufacturers undertaking product qualification.

Candiac’s existing pilot line, with capacity of 200 tonnes annually, will continue supporting sample validation and small-volume supply opportunities for defence and energy storage customers.

Commercial Timeline Extended

Nano One now expects its first commercial LFP agreement in the first quarter of 2027, following changes to customer manufacturing programmes and product specifications.

The company is undertaking qualification work with battery cell manufacturers and an automotive original equipment manufacturer (OEM), while reporting increased interest from defence and energy storage customers.

Denis Geoffroy, Chief Operating Officer of Nano One, said:

“The team has been progressing well on the product and with potential customers this year and I am confident the current discussions will result in our first commercial agreement. Shifts in customer timelines and specification requirements are simply the nature of qualification work—we have run multiple retrofits and product iterations with global tier-1 companies and I stand behind the material we are producing at our Candiac Facility.

Our goal remains the same: to lock in multi-year purchase commitments that generate revenue, advance commercialization and create long-term shareholder value.”

Building Regional Supply

Nano One is developing its cathode manufacturing technology as LFP battery production capacity expands outside China.

Its patented processes are designed to reduce manufacturing steps, eliminate wastewater and byproducts, and enable the use of regionally sourced raw materials.

The company is also developing modular plant designs intended to reduce capital expenditure and energy requirements.

Alongside its Candiac operations, Nano One conducts product development and process optimisation at its Innovation Centre in Burnaby, British Columbia.

Its wider commercialisation strategy includes collaborations with Rio Tinto, Sumitomo Metal Mining and Worley, alongside funding support from the governments of Canada, the United States, Québec and British Columbia.

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GROWING GLOBAL ADOPTION  

Epiroc is seeing continued growth in the global deployment of its Autonomous SmartROC D65 MKII drills, as mining and quarrying companies increasingly incorporate autonomous technology into their everyday operations. 

The equipment is now in use at customer sites across Australia and the US, including Fortescue’s Solomon and Eliwana operations, Luck Stone’s Rockville site, and KGHM’s Robinson mine. 

The expanding fleet demonstrates the growing role of autonomous surface drilling in production environments, with the technology being applied across different operational settings and conditions. 

IMPROVING SAFETY AND DRILLING CONSISTENCY  

Developed using Epiroc’s established automation technology, the Autonomous SmartROC D65 MKII is designed to carry out drill plans with minimal human involvement whilst maintaining accuracy and consistency. 

By automating the complete drilling cycle and allowing operators to supervise activities remotely, the solution aims to enhance operational performance while limiting personnel exposure to potentially hazardous working areas. 

Mayya Popova, Product Manager Automation at Epiroc, highlights the growing customer interest in the technology. 

“The growing adoption of the Autonomous SmartROC D65 MKII reflects the value our customers are seeing from autonomous drilling in their operations,” she says. 

CONNECTING AUTONOMOUS EQUIPMENT  

The Autonomous SmartROC D65 MKII forms part of Epiroc’s wider automation portfolio and integrates with LinkOA, the company’s platform for managing drill plans, coordinating autonomous activities, and monitoring fleet performance in real time. 

LinkOA also accommodates other equipment, including autonomous haul trucks, providing customers with a shared platform to manage daily operations and progressively extend automation across their fleets. 

Meanwhile, Epiroc’s Common Automation Panel (CAP) enables customers to monitor autonomous SmartROC and Pit Viper fleets through a unified interface. This allows operators to oversee and manage autonomous drilling activities across different sites and equipment platforms. 

By adopting a common technological framework, customers can simplify the introduction of autonomous capabilities while establishing a foundation for future expansion. 

BUILDING A BROADER AUTOMATION PORTFOLIO  

Christopher Blignaut, Automation Manager at Epiroc, explains how shared technologies are supporting the development of the company’s autonomous drilling fleet. 

“As the autonomous SmartROC fleet continues to grow, customers benefit from technologies shared across our wider autonomous drilling automation portfolio. That common approach across SmartROC and Pit Viper gives them a consistent foundation for managing and expanding their drilling fleets,” he says. 

Epiroc’s latest developments build on years of experience creating automation solutions for surface mining and quarrying applications. 

Combined with its wider range of autonomous and remote-operation technologies, the Autonomous SmartROC D65 MKII is designed to help customers strengthen workplace safety, optimise operational performance, and achieve greater consistency across drilling activities. 

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A MAJOR MILESTONE FOR ARGENTINA

Rio Tinto has celebrated the official opening of its Fénix 1B expansion and Sal de Vida lithium operation in Catamarca, Argentina, marking a significant milestone for the company and the country’s growing lithium industry.

Held on 29 October 2026, the inauguration brought together President of Argentina Javier Milei, Catamarca Governor Raúl Jalil, and Rio Tinto Chief Executive Simon Trott, alongside national and provincial authorities, employees, suppliers, and representatives of local and Indigenous communities.

The two projects represent a combined investment of approximately $1.4 billion and achieved first production in the second quarter of 2026, ahead of schedule. Both are now ramping up production and will contribute a combined 25,000 tonnes of annual lithium carbonate equivalent (LCE) capacity once fully operational.

President Milei described the Fénix expansion as a historic milestone for Argentina’s mining sector, highlighting the importance of creating an environment that encourages investment in resources essential to the modern world.

He also welcomed Rio Tinto’s continued commitment to the country, recognising the investment as a vote of confidence in Argentina’s position as a reliable business partner.

BUILDING ON DECADES OF LITHIUM EXPERTISE

The latest developments build on Rio Tinto’s longstanding presence in Catamarca, where Fénix has operated since 1997 as Argentina’s first commercial lithium operation.

The Fénix 1B expansion adds 10,000 tonnes of annual LCE capacity to the existing facility, increasing its total target capacity to approximately 40,000 tonnes per year.

Meanwhile, Sal de Vida represents a new lithium carbonate operation located approximately 20 kilometres northeast of Fénix. Once fully ramped up, it is targeting an annual LCE capacity of 15,000 tonnes.

Together, the projects reinforce Rio Tinto’s growing lithium business in Argentina, which spans operations and developments across Catamarca, Jujuy, and Salta, including the Rincon lithium project.

For the company, the openings also demonstrate its ability to deliver major projects while building on the expertise of its established Argentine workforce and network of local suppliers.

Simon Trott, Chief Executive of Rio Tinto, said: “Today is a proud moment for Rio Tinto and an important milestone for Argentina’s lithium industry, as we grow our position as a leading global supplier.”

He also acknowledged the contribution of employees, Argentine suppliers, local communities, and government partners in bringing both developments into production.

STRENGTHENING ARGENTINA’S SUPPLY CHAIN

Beyond expanding production capacity, Rio Tinto’s investment is expected to generate significant opportunities throughout Argentina’s domestic supplier network.

Around 70 percent of the approximately $4 billion in growth capital expected to be invested across the company’s lithium operations in Argentina is forecast to be spent with local suppliers.

This commitment highlights the wider economic contribution of the projects, extending their impact beyond extraction and processing to businesses and communities supporting the country’s mining industry.

The developments also support Rio Tinto’s broader ambition to reach 200,000 tonnes of annual lithium carbonate equivalent production capacity globally by 2028.

With Fénix 1B and Sal de Vida now entering their production ramp-up phases, the company’s immediate focus is on delivering safe operations and a reliable supply of high-quality lithium to customers.

Trott emphasised the importance of this next stage, stating: “Our focus now is on safely ramping up production, delivering reliable, high-quality lithium to our customers, and creating lasting value for our shareholders and Argentina.”

As global demand for lithium continues to underpin the development of modern technologies, Rio Tinto’s latest investment represents an important step in expanding its production capabilities while strengthening Argentina’s role in the international lithium supply chain.

The post Rio Tinto on $1.4 Billion Lithium Investment: “Today is an Important Milestone for Argentina’s Lithium Industry” appeared first on Mining Outlook.

Since it began in 1932, the annual convention has grown in size, stature and influence. The award winning event is a gathering where familiar faces reunite, new connections are forged, and the future of mineral exploration takes shape one conversation at a time. It is the event of choice for the industry hosting more than 1,300 exhibitors and 800 presenters.

For more information, please visit http://www.pdac.ca/convention-2027

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Seequent Strengthens Mining Exploration Technology

Bentley Systems has announced that its subsurface software business, Seequent, has acquired French seismic interpretation specialist Eliis, expanding its geophysical modelling and geological analysis capabilities.

The acquisition brings Eliis’ seismic interpretation technology into Seequent’s existing subsurface software portfolio, supporting more detailed analysis of underground geological structures.

The move is particularly relevant to the mining industry, where improving subsurface understanding can help exploration teams reduce geological uncertainty and identify deeper mineral deposits.

Founded in 2007 and headquartered in Montpellier, France, Eliis develops software that enables geoscientists to process and interpret seismic imaging data to create detailed subsurface models.

Its global team of more than 100 geoscientists, technical specialists and researchers will join Seequent following the acquisition.

AI-Powered Seismic Interpretation for Mining

Eliis’ technology portfolio includes PaleoScan, a seismic interpretation platform incorporating patented Relative Geological Time technology and artificial intelligence (AI)-assisted interpretation capabilities.

The software is currently used by hundreds of energy companies and is designed to help geoscientists analyse seismic data and improve their understanding of subsurface geological structures.

Eliis also develops PaleoModel, an industry co-innovation project designed to support downstream reservoir simulation.

These technologies complement Seequent’s existing portfolio, including Leapfrog, its implicit geological modelling software.

The combination is intended to strengthen Seequent’s capabilities across seismic interpretation and geological modelling, providing additional tools for organisations seeking to understand complex subsurface environments.

Reducing Geological Uncertainty in Mineral Exploration

Graham Grant, CEO of Seequent, highlighted the growing importance of seismic technology as mining companies seek deeper mineral resources.

“I am delighted to welcome Eliis to Seequent. Global challenges—notably energy security, the energy transition, and the demand for critical resources—are increasing the need for deeper subsurface insight.”

Grant noted that advances in seismic data acquisition and AI are creating opportunities for the technology beyond its traditional applications in oil and gas.

“Lower cost seismic data acquisition and AI are expanding the adoption of seismic methods beyond oil and gas. We see huge opportunity in energy, mining, as well as groundwater management, the recovery of minerals from brines, and carbon storage.”

He also emphasised the potential benefits for mineral exploration.

“For example, seismic interpretation helps mining companies reduce geological uncertainty and discover deeper mineral deposits compared to traditional methods. Eliis will strengthen Seequent’s ability to help our users understand the underground, reduce uncertainty and risk, and make better, faster, and more confident decisions.”

Expanding Subsurface Software Applications

Beyond mineral exploration, the acquisition will strengthen Seequent’s capabilities in groundwater management, mineral recovery from brines and carbon storage.

The addition of Eliis also supports the company’s ambitions to provide more comprehensive subsurface analysis technologies across different industries.

Benoît Matha, CEO of Eliis, said the acquisition would create opportunities to expand the company’s technology beyond its established energy industry customer base.

“Seequent’s acquisition of Eliis provides us with a secure, long-term home in a company that deeply understands and values our expertise and software.”

Matha added that combining seismic expertise with Seequent’s geoscience technologies would support the development of a broader subsurface technology platform.

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A GLITTERING SEAM OF OPPORTUNITY

Known for its arid deserts, mountainous landscapes, and vibrant cities, Nevada (NV) has a diverse range of geological formations, making it the leading gold-producing state in the US and home to a long history of mining this valuable commodity.

“This is an especially exciting time for NV’s mining industry,” optimistically introduces Don Dwyer, Vice President of Equinox Gold’s South Railroad Mine – one of North America’s most senior gold producers.

“Strong gold prices are supporting new projects and expanding exploration activities that demonstrate NV’s long-term mineral potential,” he continues.

Equinox Gold made a strategic move by combining with Orla Mining at the end of July this year, positioning the company as one of the most advantageous on the continent and in the market.

With gold as its primary product, which the company produces and sells into the global precious metals market, Equinox Gold operates six mines across Canada, the US, Mexico, and Nicaragua, employing more than 4,300 people.

“A key benefit of the merger is the company’s strong portfolio of internal growth opportunities across Canada, Mexico, and the US, including the South Railroad Mine Project in Elko County, NV. The combination of established operations and expansion projects provides a solid foundation for continued growth,” Dwyer informs us.

Specifically, the mine is along Eureka and Elko Counties’ prolific Carlin Trend – one of the most productive gold-bearing geological formations in the world.

Furthermore, the state benefits from growing innovation and education initiatives, and the University of Nevada, Reno has become an important hub for mining research and technology.

“We have partnered with NORCAT, formerly known as the Northern Centre for Advanced Technology, through Great Basin College (GBC) to support our workforce development planning and training needs as we grow from an office of 30 to a mine of more than 330.”

NV’s continued growth also presents some practical challenges. Mining companies are competing for a limited skilled workforce; therefore, it’s important to make the public aware that mining offers rewarding career opportunities.

“State permitting has become a challenge as mining competes with other industries such as solar and geothermal for predictable permit timelines. NV’s signing of the memorandum of understanding (MoU) with the Federal Permitting Council was a positive step forward,” expresses Dwyer.

“The agreement commits to better aligning NV’s state permitting timelines with federal reviews for projects that qualify for FAST-41 coverage. This first-of-its-kind coordination will provide greater transparency and predictability for future projects.”

THE ROUTE AHEAD

As a planned open-pit, heap-leach gold and silver mine, the South Railroad Mine Project builds on Equinox Gold’s existing portfolio.

“Once operational, the mine is expected to expand our portfolio to eight operating mines, strengthening the company’s presence in the US and advancing its growth strategy,” Dwyer outlines.

The project reached a significant milestone with the issuance of the Record of Decision from the Bureau of Land Management (BLM), which allowed on-site construction activities to begin in mid-August, with the South Railroad Mine Project becoming fully federally permitted on the 26th of the same month this year.

By advancing the mine from development into construction and ultimately operation, Equinox Gold is creating an additional source of long-term value for its shareholders while generating meaningful employment and economic opportunities for Elko County and the wider state.

The open-pit mine will initially produce more than 100,000 gold ounces annually over the initial 10-year mine life across four open pits, securing contributions to NV’s existing gold mining industry.

“We are proud to be constructing the state’s next gold mine, as the significant volume the project is expected to produce will strengthen NV as a top gold-producing jurisdiction,” Dwyer excitedly states.

“One particularly important aspect of the South Railroad Mine Project is its location. Many miners live in Elko County; however, many of the region’s mines are in neighboring counties. As a result, the county does not directly benefit from taxes associated with those operations, but by creating new jobs, supporting local businesses, and generating tax revenue in our community – where many mining families live – this will change.”

With pre-stripping commencing in 2027 and production anticipated to begin in 2028, the mine will pay business taxes in a similar way to other industries while also contributing to two mining-specific state taxes, one of which funds public education.

According to the Nevada Mining Association, the mining industry is expected to contribute approximately $475 million to public education during the 2026-27 biennium – a distinctive investment in future generations.

“We are excited for the project to contribute to that legacy while bringing long-term benefits to the local and broader areas,” he prides.

STRIKING GOLD IN THE COMMUNITY

Equinox Gold’s place in the local community will ensure the mine benefits Elko County not only through job creation but also meaningful outreach, such as local meal distribution across nearby schools.

“We worked hard early on to show that Elko County would be stronger with the South Railroad Mine Project team present. During permitting and exploration, we directed our donations toward initiatives with the greatest potential for meaningful community impact.

“We also provide employees with paid volunteer time, encouraging them to support causes that matter to them.

“For example, some employees use their volunteer time to deliver food to those in need, volunteer at animal rescues, or help in our local schools. Our employees have also supported larger community initiatives including the Communities in Schools weekly food distribution and holiday meal distribution program run by Friends in Service Helping (FISH),” Dwyer details.

Equinox Gold previously made a substantial contribution to GBC to support hiring a professor for its hybrid Industrial Maintenance Technology program, which allows working adults to upgrade their technical skills without leaving the workforce to attend school full time.

It creates opportunities for the community while building the skilled workforce the mining industry needs.

“We also offer college scholarships to eligible dependents of our employees and to selected graduating students from local high schools. As the South Railroad Mine Project advances, it will create additional employment and contracting opportunities in Elko County.

“Our objective is to continue to demonstrate that the county is stronger with the project as its partner,” smiles Dwyer.

Equinox Gold also receives support from the county commissioners and local community.

“Our support was built on consistent engagement and strong relationships. Before BLM published the Notice of Intent to proceed with the National Environmental Policy Act (NEPA) review of the project, we made a concerted effort to listen to community members, understand their priorities, and provide regular updates on its progress.

“Those efforts produced a very encouraging result. BLM public comment period concluded with letters of support representing the largest category of feedback received. That support is especially meaningful to our team because it reflects the trust we have worked hard to earn,” Dwyer elaborates.

Many South Railroad Mine Project team members have deep roots in Elko County, giving them a personal understanding of the community’s priorities and a strong commitment to ensuring the operation delivers lasting local benefits.

“We are proud to be building not only a new modern mining operation, but a workplace culture founded on a people-first principle,” he reports.

DIGGING DEEP FOR A PEOPLE-FIRST CULTURE

As part of Equinox Gold’s procurement strategy, the company aims to source locally where possible.

Fortunately, the South Railroad Mine Project is located in a major support hub for the mining industry. As a significant exploration area, it has a rich production history and therefore benefits from local expertise.

“Many experienced suppliers, contractors, and service providers are already established in Elko County,” acknowledges Dwyer.

Alongside this, Equinox Gold aims to become an employer of choice by creating a workplace where people are treated fairly, supported in their development, and recognized for their contributions.

“We have been assembling a respected leadership team committed to a people-first culture built on trust, accountability, integrity, and teamwork. I have worked in this area for about 20 years and have made it a priority to treat people as people and create an environment where employees feel valued and motivated to succeed,” he determines.

“Several team members also have strong reputations built on years living in the area. The talented people we continue to attract are a testament to this approach.”

Aiming to boost employee retention, encourage training and development, and maintain a culture of respect, Dwyer has a particular leadership philosophy.

“I believe in always making decisions with your people in mind. When employees feel respected, valued, and a part of the team’s success, they are more likely to remain engaged.”

The South Railroad Mine Project offers a unique opportunity to join a growing team that is building a new mine with state-of-the-art equipment.

“Starting an operation from the ground up gives us a rare opportunity to set a culture of excellence from the outset. We established the guiding principle, ‘Dig Deep, Deliver GOLD’ – with GOLD representing grit, ownership, leadership, and delivery,” Dwyer sets out.

“Grit reflects the perseverance required to overcome the complex challenges of permitting and building a new mine. Ownership means every team member is accountable for our success, and you can witness that in their engagement and commitment.

“Leadership is essential to developing a strong, high-performing culture. Finally, the hard work and commitment turn into meaningful results through delivery.”

As the company grows, it will create new positions and expand training and mentoring opportunities. Being part of Equinox Gold means employees can also pursue roles and professional development across a larger international organization.

“In the long run, retention is not driven by any single program; it comes from consistently treating people fairly, listening to ideas, investing in their development, and creating a workplace where everyone is respected and can succeed,” he insights.

A ROAD PAVED WITH GOLD

In January, Orla Mining published an updated feasibility study and, soon after, announced board approval to start construction on the South Railroad Mine Project.

“Following approval for $440M in capital spend, we ordered long-lead items, including mobile mining equipment, gold processing equipment, and generators required for future site power. Work also began in July on sections of the access road to the site that were outside the project’s plan of operations submitted to BLM.

“We worked with Elko County to upgrade those sections to ensure they would support future use. When BLM published the record of decision in August, work on site was authorized to begin,” updates Dwyer.

Indeed, it has been an industrious time for the company. To date, work has included clearing and grubbing site areas for facilities and roads, as well as commencing drilling of dewatering wells.

By year-end, Equinox Gold will have an administration facility on site, made substantial progress on the access road, approvals for remaining key state permits, and started work on additional infrastructure.

“Our key priorities for next year are to continue advancing construction activities and keep building the workforce that will operate the South Railroad Mine Project in the future,” reveals Dwyer.

This includes expanding the company’s mine operations and mobile maintenance teams in preparation for mining to begin in spring 2027, followed by the phased recruitment and training of its processing team later in that year and into 2028.

“Every milestone will move us closer to our goal of achieving first gold production in 2028.

At the same time, we are focused on establishing the systems, capabilities, and culture needed to create an operation we can be proud of, not simply completing construction.

“We are excited to be Elko County’s next gold mine and provide growth to Equinox Gold’s portfolio,” Dwyer emphatically concludes.

EQUINOX GOLD PARTNER

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BUILDING A MODERN MINE TO MEET GROWING US COPPER DEMAND

“We are excited to be at the forefront of growth in the US mining industry with our development-stage Santa Cruz Copper Project (Santa Cruz) and our expanding technology-driven mineral exploration portfolio.”

Created with a deliberate focus on increasing mineral exploration in the US, Ivanhoe Electric is dedicated to finding and developing new sources of critical metals.

The company combines industry-leading, proprietary mineral exploration technologies with an expanding portfolio of mineral exploration and development projects and global exploration partnerships with some of the world’s leading mining companies.

Ivanhoe Electric’s most advanced project is its Santa Cruz project in Casa Grande, Arizona (AZ). Known as the ‘Copper State’, AZ has a rich mining history and a booming technology industry.

“We are building a modern, high-grade copper project located entirely on private land in the heart of AZ. It would be hard to find a better location for a new underground copper mine,” acclaims Taylor Melvin, President and CEO.

“Our project benefits from access to existing infrastructure, including state and interstate highways, local roads, rail, natural gas, and existing power lines. The approximately 6,000 acres we own at Santa Cruz also includes associated mineral and water rights.”

Ivanhoe Electric has received the permits it needs to conduct initial construction activities, and site development work is already underway.

MEETING DOMESTIC DEMAND

With a lack of sufficient domestic smelting and refining capacity, the US relies on imported copper metal to meet domestic demand for refined copper. In 2025, the country produced about 800,000 tons (t) of refined copper, less than half of US demand, which is approaching 1.8 million t.

“Santa Cruz will help meet domestic refined copper demand because our high-grade oxide reserves allow us to produce 99.99 percent pure copper metal, not concentrate,” says Melvin.

The US needs more copper to meet rising demand from the rapid growth in artificial intelligence (AI)-related technology systems, power generation and electric transmission infrastructure, construction, industrial production, and national defense.

“The current administration has highlighted the importance of increasing domestic production of critical minerals to support supply chain security, and copper is a big part of the conversation,” Melvin outlines.

“We need new copper projects like Santa Cruz to support our nation’s economic growth, expand our technology and electric infrastructure, and bolster our national defense.

“The US government is making concerted and tangible efforts to support domestic mining. Our industry is seeing more transparent and faster permitting timelines, better access to capital, and increased funding to the nation’s mining colleges and universities to help create the next generation of mining professionals we need to grow our US mining industry,” he observes.

Santa Cruz is therefore exactly what the US needs – an advanced copper development project that will produce clean, domestically sourced copper metal to support US industry and supply chain security.

Ivanhoe Electric has an experienced team of mining professionals utilizing the best available technologies to build a modern, high-grade, and efficient underground copper mining operation.

“Our copper metal will go directly onto trucks and/or trains and be delivered straight into the US economy; we will not be shipping concentrate overseas to have it smelted and refined into copper metal that needs to be shipped back into the country.”

UPDATED STUDY

In September, Ivanhoe Electric released its 2026 Preliminary Feasibility Study for Santa Cruz.

The updated study details plans for a high-grade, modern underground mining operation designed to move approximately 20,000 t of ore per day and produce an average of 75,000 t of copper cathode annually during the mine’s first 15 years.

“Santa Cruz’s efficient design utilizes an on-off heap leach pad and solvent extraction-electrowinning processing facility to produce 99.99 percent pure copper cathode,” Melvin tells us.

“Our high-grade atacamite and enriched sulfide reserves, which average almost 1.1 percent copper, provide several benefits to the project. They are particularly well-suited to leaching and require less sulfuric acid than many leaching operations; sulfuric acid only makes up about five percent of our operating costs, which limits our exposure to an expensive input.”

Ivanhoe Electric expects to achieve high copper recoveries, averaging over 92 percent during the 24-year mine life included in the study. High-grade reserves and an efficient design result in low estimated unit cash operating costs of $1.47 per pound.

With an updated initial capital estimate of $1.43 billion, Santa Cruz has a low capital intensity of less than $20,000 per t of copper produced which, combined with low operating costs, supports strong project economics.

“The 2026 study is our final study and provides the necessary engineering we need to support our advanced project financing discussions,” reveals Melvin.

“On August 24th, we announced receipt of a Preliminary Project Letter from the Export-Import Bank of the US (EXIM) for up to $1.1 billion of potential debt financing for Santa Cruz. That increased the potential US EXIM financing from the $825 million contemplated in its April 2025 Letter of Interest and represents another important step in advancing the project toward construction and production.

“We are also in parallel discussions with a large group of commercial banks for potential financing alternatives,” he confirms.

Beyond project debt initiatives, Ivanhoe Electric is also in advanced discussions with potential partners for copper offtake arrangements which could include additional financing alternatives. The company intends to complete its financing efforts by the spring of 2027.

TUNNEL BORING MACHINE TECHNOLOGY

Ivanhoe Electric’s highly engineered 2026 study incorporates the advanced technology of The Robbins Company’s (Robbins) Crossover XRE tunnel boring machine (TBM) for mine access. The TBM is purpose-built to develop underground mine access through variable ground conditions.

The machine system installs a continuous, sealed, steel-reinforced concrete lining as it tunnels to the orebody. It also installs an integrated material handling system that will be used during excavation and life-of-mine production.

Based in Solon, Ohio, Robbins is the world’s foremost manufacturer of advanced underground tunnel construction machinery. Robbins has a successful track record of innovation that spans almost 70 years; the company has been involved in over 1,000 tunnel boring projects around the world.

“The Robbins Crossover XRE TBM is designed specifically to operate effectively in various ground conditions, including the wet ground conditions we expect to encounter during a portion of our decline development at Santa Cruz,” notes Melvin.

“The machine we acquired from a subsidiary of Anglo American is being shipped from Australia to the US, where it will be reconstructed at Santa Cruz. By the time the machine is ready for use at Santa Cruz, approximately half of the components will be new, including a 9.3-meter-diameter pressurized cutting head.”

Ivanhoe Electric expects to begin decline development in the summer of 2027. Completion of the four-kilometer (km) access tunnel and material handling system is expected to take approximately one year.

“The Robbins Crossover XRE TBM provides us with a superior engineered solution to mine access and material handling system at Santa Cruz. The machine potentially could be used to access future deposits, including our Texaco Deposit, which sits about 2 km away,” Melvin points out.

EXPLORATION PARTNERSHIPS

Beyond Santa Cruz, the company has a dynamic portfolio of copper-focused exploration assets in the US, including the Gleeson Project in Southeast AZ.

Ivanhoe Electric has leveraged its exploration technologies and capabilities to create valuable exploration partnerships.

“Our partnerships with leading global mining companies BHP, Maaden, and Sociedad Quimica & Minera de Chile (SQM) greatly expand our potential for future discoveries in some of the most prospective areas of the world,” Melvin affirms.

Ivanhoe Electric is using the powerful combination of its Typhoon™ geophysical surveying system and Computational Geosciences Inc. (CGI) data analytics technologies in its global partnerships with BHP in the US, Maaden in Saudi Arabia and, most recently, SQM in Northern Chile.

Developed by I-Pulse of Toulouse, France, Typhoon™ uses a proprietary design to deliver an exceptionally powerful and clean electric signal to detect the presence of sulfide mineralization deep below surface. Typhoon™ has the ability to operate efficiently over large areas, including places that have challenging, electrically resistive cover.

“We collect massive amounts of raw data from our surveys and use the complex, machine learning-based inversion software developed by our subsidiary, CGI, to convert that data into accurate 3D images of underground anomalies,” explains Melvin.

“The combination of Typhoon™ and CGI allows our exploration professionals to accelerate the mineral exploration process.”

At its 50/50 joint venture with Maaden established in 2023, the company is exploring almost 50,000 square km (sqkm) of highly prospective ground for copper, gold, and other important metals.

In the Western US, Ivanhoe is working together with BHP in a 50/50 exploration alliance, utilizing its technologies to search for new deposits in the Western US. BHP funded the alliance with an initial investment of $15 million in 2024.

Its latest collaboration with SQM in Chile, meanwhile, gives the company access to more than 2,000 sqkm in one of the world’s great copper regions. SQM provided a $9 million commitment to fund initial exploration activities.

“We are currently conducting Typhoon™ surveys in Chile to search deep beneath the electrically resistive caliche cover for potential copper porphyry systems,” Melvin informs us.

YEAR OF EXECUTION

2027 is going to be an important year of execution for Ivanhoe Electric.

Its focus at Santa Cruz will be on completing project financing while continuing to advance project development and putting the major pieces in place to begin underground work.

Early site work at Santa Cruz will include completion of the box cut for the TBM, construction of the TBM, and initial development of the ventilation shafts.

“We are working with suppliers to secure the long lead-time items that we need to maintain our timeline of delivering first copper production in mid-2029,” Melvin states.

Beyond Santa Cruz, Ivanhoe Electric will continue to advance exploration projects in the US and abroad though its partnerships.

“Our team is developing the highest-grade, most advanced copper project in the US capable of producing pure copper metal within the next three years. We are utilizing our technologies to advance exploration activities on our portfolio of exploration projects and within our global exploration partnerships. Our team remains focused on safe, efficient, and disciplined execution across all our projects,” he concludes.

The post Ivanhoe Electric : Building a Modern Mine to Meet Growing US Copper Demand appeared first on Mining Outlook.

Gold Fields Clears Major Regulatory Hurdle

Gold Fields has received the principal environmental authorisation for its Windfall gold project in Québec, Canada, marking a significant milestone towards construction and full-scale development.

The Certificate of Authorisation was issued on 30 October 2026 by Québec’s Ministry of the Environment, the Fight Against Climate Change, Biodiversity Protection, Wildlife and Parks.

The approval confirms the completion of the project’s environmental and social impact assessment and review process under Chapter II of Québec’s Environment Quality Act.

It authorises construction and development activities, subject to applicable regulatory conditions and commitments.

Windfall, located in the Eeyou Istchee James Bay region, is one of Canada’s highest-grade development-stage gold projects.

Mike Fraser, CEO of Gold Fields, welcomed the announcement.

“Receiving the Certificate of Authorisation for Windfall is a major milestone for Gold Fields and for one of Canada’s highest-grade development-stage gold projects.”

Construction Plans and Investment Decision

Following the approval, Gold Fields will progress its final investment decision (FID), subject to Board approval.

The company expects to publish an updated construction schedule, development capital estimate and Windfall Mineral Resources and Mineral Reserves by February 2027, alongside its 2026 provisional results.

Gold Fields will also progress remobilisation and recommencement of site activities, including underground operations that were paused following the expiry of the bulk-sample exploration permit at the end of August 2026.

Early civil works and construction of camp facilities are expected to begin shortly, within the scope already approved by the company’s Board of Directors.

Gold Fields acquired full ownership of Windfall in October 2024 through its acquisition of Osisko Mining, having previously held a 50 percent interest in the joint venture.

Partnership with Cree First Nation

The environmental authorisation follows the signing of the Uukiimau Agreement in June 2026 with the Cree First Nation of Waswanipi, the Cree Nation Government and the Grand Council of the Crees.

The Impact and Benefit Agreement covers the operational life of Windfall and establishes commitments relating to employment, training, business opportunities, environmental monitoring and financial participation.

The mine will also be powered primarily by hydroelectricity delivered through a transmission line owned and operated by the Cree First Nation of Waswanipi.

The project’s environmental and social impact assessment was submitted to provincial and federal authorities in March 2023, with the subsequent review incorporating public and Cree community consultation.

Fraser emphasised the importance of collaboration in advancing the development.

“The Uukiimau Agreement and the Certificate of Authorisation demonstrate how responsible mining can be advanced through respect, transparency and shared value creation.”

He also acknowledged the involvement of government authorities, regulatory bodies and local communities throughout the assessment process.

Windfall’s Long-Term Production Potential

Beyond the initial development, Gold Fields sees significant exploration potential across the wider Windfall district.

The company holds approximately 2,500 square kilometres of land in the Urban-Barry and Quévillon areas, where regional exploration programmes are advancing targets with the aim of discovering additional gold resources.

The Windfall deposit itself offers further growth opportunities along strike and down plunge, supporting Gold Fields’ ambition to establish a long-life, low-cost production centre.

Fraser outlined the next phase of development.

“We will now focus on finalising our execution plan and moving Windfall towards construction safely and responsibly, so that it becomes a long-life, low-cost production centre that delivers long-term value for the Eeyou Istchee James Bay, Québec and our shareholders.”

With its principal environmental authorisation secured, Gold Fields will now focus on finalising the project’s investment case and construction plans ahead of its anticipated February 2027 update.

The post Gold Fields Secures Environmental Approval for Windfall Gold Project in Canada appeared first on Mining Outlook.

Fortescue Expands into Mining Energy Supply

Fortescue has taken a major step towards becoming a regional energy supplier, signing its first power purchase agreement (PPA) with lithium producer PLS Group.

Under the 20-year agreement, Fortescue will supply a minimum of 325 gigawatt-hours (GWh) of electricity annually to PLS’ Pilgangoora Operation in Western Australia’s Pilbara region, with supply expected to begin in 2029.

The deal makes PLS the first external customer for Fortescue’s Green Grid, originally developed to power its own mining, rail and port operations.

Fortescue Metals CEO Dino Otranto said the agreement demonstrates the commercial potential of the company’s renewable energy infrastructure.

“We started building the Green Grid for our own operations, but we could see strong demand for cheap, green, reliable power across the Pilbara and an opportunity to supply other customers too.

“This agreement is an important first step and cements our role as an energy supplier. It will help power PLS’ expansion, support economic growth in the region, and create a new, long-term revenue stream for Fortescue.”

Supporting PLS’ AUD$1.9 Billion Lithium Expansion

Fortescue will construct an approximately 25-kilometre, 220-kilovolt transmission line connecting Pilgangoora to the Green Grid, supporting PLS’ recently approved AUD$1.9 billion expansion.

PLS will fund the entire transmission line and own approximately 20 kilometres, with Fortescue retaining the remainder.

The annual electricity commitment is equivalent to the consumption of around 45,000 Australian homes.

PLS Managing Director and CEO Dale Henderson welcomed the partnership.

“We commend Fortescue’s leadership in developing the Green Grid and are pleased to partner with them as their first external customer. This agreement will deliver lower-cost, lower-emissions power to our long-life Pilgangoora operation, further strengthening our competitiveness in the global lithium industry.”

Green Grid Infrastructure Reaches 550 Kilometres

Fortescue has already constructed 550 kilometres of its planned 660-kilometre transmission network across the Pilbara.

The Green Grid combines solar and wind generation, battery storage, transmission infrastructure and intelligent energy management.

More than 1.3 gigawatts (GW) of renewable generation capacity and over one GWh of battery storage are operational or under construction, with more than 6,000 solar panels being installed daily.

The network is expected to reach 2.4GW of solar and wind capacity, supported by between four and five GWh of battery storage.

Reducing Diesel Costs and Emissions

Fortescue is positioning renewable electricity as a way to reduce operating costs, emissions and exposure to volatile fossil fuel prices.

The company consumed 680 million litres of diesel last year, with Otranto highlighting the financial implications of fluctuating fuel prices.

“Cost. Climate. Control. That’s the case for the Green Grid. We used 680 million litres of diesel last year, and every 10-cent rise in diesel prices adds almost US$70 million to our annual costs. Replacing diesel with renewable power improves our competitiveness, cuts emissions, reduces our exposure to volatile fossil fuel prices and gives us greater control over when and where we use energy,” said Ontaro.

Further Pilbara Customers in the Pipeline

The PLS agreement establishes a new long-term revenue stream for Fortescue while demonstrating the potential to supply renewable electricity to other mining and industrial operations.

Otranto indicated that further commercial opportunities are being explored.

“PLS is our first customer, with a strong pipeline of others across the Pilbara looking to our Green Grid for greater choice and flexibility in how they source their power.”

The agreement marks a significant milestone in Fortescue’s energy strategy, extending the Green Grid’s role from internal decarbonisation to supplying electricity across the Pilbara mining industry.

The post Fortescue Secures 20-Year Green Power Deal to Supply PLS Lithium Mine appeared first on Mining Outlook.

BOOSTING QUEENSLAND’S BAUXITE INDUSTRY  

Rio Tinto is investing $1.9 billion in the development of the Kangwinan bauxite project on Western Cape York Peninsula in Queensland, reinforcing the long-term future of its Weipa Operations and its position as a leading global producer of high-quality bauxite. 

The brownfield development will add 20 million tonnes (t) of annual production capacity, drawing on some existing infrastructure. First output is targeted for 2029, with full production expected by 2032. 

The investment reflects Rio Tinto’s continued commitment to Australian mining and its disciplined approach to capital allocation, whilst supporting the company’s integrated aluminium value chain. 

REPLACING EXISTING PRODUCTION  

Kangwinan will replace output from the Andoom mine near Weipa as the operation approaches the end of its life this decade. The development will increase Weipa Operations’ annual production capacity to approximately 44 million t, up from current production of around 38 million t. 

The project will also help offset the planned cessation of production at the Gove mine in the Northern Territory in 2029, supporting continuity of supply for Rio Tinto’s customers. 

Rio Tinto Aluminium & Lithium Chief Executive Jérôme Pécresse said: “Kangwinan is a strong vote of confidence in Weipa, in the quality of its bauxite, the capability of its workforce, and the future of the communities and businesses closely connected to our operations. 

DEVELOPING INFRASTRUCTURE AND IMPROVING EFFICIENCY  

Early works at Kangwinan began in 2025. Upon completion, the project will establish a new bauxite production centre 15 kilometres (km) south-east of Rio Tinto’s Amrun mine, which lies 40 km south of Weipa. 

A 15-km conveyor will transport ore from Kangwinan to expanded stockyard facilities and the existing Amrun wharf. Planned wharf upgrades will enable it to accommodate larger capesize vessels, improving supply-chain efficiency and reducing freight costs. 

Construction activity is expected to ramp up in 2027, with the project forecast to support more than 1,300 construction jobs. Over the longer term, Kangwinan will help sustain Rio Tinto’s residential workforce of approximately 1,500 people in Western Cape York. 

BUILDING LONG-TERM COMMUNITY PARTNERSHIPS  

Rio Tinto has operated in Western Cape York for more than 60 years, developing its bauxite business alongside relationships with Traditional Owners and local communities. The company says maintaining these partnerships will remain central to the success of its operations. 

Pécresse said: “For more than 60 years, we have operated in Western Cape York, building a world-class bauxite business and enduring relationships with Traditional Owners and local communities. Cultivating and expanding that ongoing partnership will be critical to the long-term success of our operations. 

“As Kangwinan moves forward, and with the planned acquisition of the Aurukun Bauxite Project, we will keep listening and working together to create lasting value for Western Cape York, while respecting the connection Traditional Owners have to Country and making sure they continue to benefit sustainably from our operations. 

“This investment will support jobs, create opportunities for local and regional businesses, and help us continue supplying our customers with the high-quality bauxite they have relied on for decades.” 

EXPANDING WESTERN CAPE YORK’S GROWTH POTENTIAL  

The Kangwinan investment forms part of Rio Tinto’s broader plans for Western Cape York. Last month, the company agreed to acquire the adjacent Aurukun Bauxite Project, subject to government approvals, from its current owners, Glencore (70 percent) and Mitsubishi (30 percent). 

The proposed acquisition is intended to support Rio Tinto’s long-term growth strategy by leveraging existing and planned infrastructure across the region. 

Together, the Amrun, Kangwinan, and Aurukun operations are expected to sustain Weipa Operations well beyond the middle of this century, strengthening the region’s role in Rio Tinto’s global bauxite business. 

The post Rio Tinto Commits $1.9bn to Queensland’s Kangwinan Bauxite Project appeared first on Mining Outlook.

ASSESSING VICTORY’S LITHIUM POTENTIAL  

Rock Tech Lithium Inc. (Rock Tech) has launched its first exploration field program at the Victory Project in northwestern Ontario, marking an initial step in evaluating the scale and mineral potential of the 9,875-hectare property. 

The program will focus on two known lithium-bearing pegmatites located approximately six kilometers (km) apart. Geologists will investigate potential extensions to both formations and explore the largely untested corridor between them for additional mineralization. 

The objective is to establish whether the two occurrences form part of a larger lithium-bearing system, potentially expanding the project’s mineralized footprint and resource potential. 

Throughout October, geologists and field technicians will examine the existing occurrences, search for new discoveries, and identify priority targets for a potential drilling program in 2027. The work will also help assess Victory’s suitability as an additional source of Ontario lithium for Rock Tech’s proposed lithium conversion plant in Red Rock. 

Rock Tech secured an option to acquire 100 percent of the project in June 2026. Its location along the Trans-Canada Highway, with rail infrastructure, electrical transmission, and a natural gas pipeline nearby, provides access to transport and energy infrastructure. 

“Four months after signing the option, our geologists and prospectors are on the ground at Victory,” said Mirco Wojnarowicz, CEO of Rock Tech.  

EXPLORATION OPPORTUNITIES  

The Victory Project contains two known lithium-cesium-tantalum (LCT) pegmatites: the Last Resort Pegmatite and the Bounty Pegmatite. These coarse-grained rock formations can contain lithium-bearing minerals, including spodumene. 

Both pegmatites are exposed at the surface, with historical selective grab samples returning lithium oxide (Li₂O) grades of up to 5.11 percent at Last Resort and 3.48 percent at Bounty. Neither occurrence has previously been drilled. 

The six-km corridor separating the two formations has undergone limited systematic exploration, making it a priority area for further investigation. 

Alongside geological mapping and sampling, field teams are conducting a high-resolution survey of the property to identify outcrops, geological structures, and pegmatite trends. The combined findings will help establish priority areas for follow-up exploration. 

INTEGRATED ONTARIO LITHIUM SUPPLY CHAIN  

Victory forms part of Rock Tech’s broader strategy to develop an integrated lithium supply chain in Ontario, spanning mining through to the production of battery-grade materials. 

Located approximately five hours by road from the proposed Red Rock Converter, the project could provide additional lithium feedstock for the planned facility, which is situated near Rock Tech’s Georgia Lake Project. 

“Victory’s geological characteristics and proximity to infrastructure make it a compelling fit for Rock Tech’s integrated lithium supply chain model,” adds Cameron Andrews, General Manager Canada of Rock Tech.  

The proposed Red Rock Converter is intended to support third-party spodumene projects in Ontario and elsewhere in Canada by providing a domestic processing solution.  

Victory could contribute to this regional supply network as Rock Tech seeks to strengthen its position in Ontario and establish a platform for wider growth across Canada and beyond. 

TECHNICAL DISCLOSURE AND PROJECT CONSIDERATIONS  

Rock Tech notes that the historical lithium oxide grades were obtained from selective grab samples. These results are not necessarily representative of mineralization across the property and have not been fully verified by the company. 

Victory remains an early-stage exploration property, with no mineral resource or reserve estimate established. There is no assurance that further exploration will define a resource or reserve. Mineralization at the Georgia Lake Project is not necessarily indicative of what may be found at Victory. 

The estimated feed requirement for the proposed Red Rock Converter is based on an assumed concentrate grade of 5.75 percent Li₂O and a conversion recovery rate of approximately 86 percent. This figure is an approximate planning assumption and does not represent a production estimate for Victory. 

The post Rock Tech Lithium Launches First Exploration Program at Victory Project  appeared first on Mining Outlook.

Critical Mineral Demand Could Outstrip Global Supply

Industrial companies face growing risks from critical mineral shortages, with demand for key materials potentially exceeding forecast supply by as much as 150 per cent through 2040, according to new analysis from Boston Consulting Group (BCG).

The report, Why Critical Mineral Shortages Are a CEO Issue, identifies three major blind spots preventing businesses from accurately assessing their exposure to supply disruptions.

BCG’s modelling projects demand for materials including rare earths, graphite, copper and lithium at approximately 120 to 250 per cent of forecast supply through 2040.

The consultancy warns that conventional procurement risk assessments often overlook strategically important minerals because their relatively low purchasing costs conceal their significance to industrial production.

Tycho Möncks, Managing Director and Partner at BCG and co-author of the report, said: “Most industrials track exposure through spend and direct supplier data, and the minerals that can stop a production line are often the ones they spend almost nothing on.”

“The question for CEOs and boards is not whether their company is exposed. It is. The question is whether they intend to live with that exposure or turn it into an advantage.”

Small Mineral Markets Create Major Supply Chain Risks

BCG highlights the threat posed by what it calls ‘mosquito minerals’ – materials traded in relatively small markets but essential to high-value industrial products.

Gallium provides a particularly striking example. Its global market is valued at less than USD$350 million annually, with production of approximately 900 tonnes, yet BCG estimates that around USD$3.5 trillion worth of finished products depend on it.

Similarly, the global upstream arsenic market is valued at approximately USD$50 million, while a single producer supplies around 60 per cent of the ultra-high-purity material used in telecommunications infrastructure, data centre optics, radar systems and defence electronics.

The report also highlights the vulnerability of byproduct minerals, including gallium, germanium and arsenic.

Because these materials are recovered during the production of other metals, their availability depends heavily on the economics and output of the primary mining operation.

Consequently, higher prices for a critical byproduct may not necessarily stimulate additional production, limiting the ability of conventional market mechanisms to resolve shortages.

Supply Chain Exposure Extends Beyond Direct Suppliers

Another major concern is the limited visibility companies have over mineral dependencies beyond their immediate suppliers.

Critical minerals are frequently embedded in components such as motors, magnets, sensors, lasers and power modules, meaning manufacturers may depend on materials they never purchase directly.

BCG also identifies risks within the equipment and industrial processes used to manufacture finished products.

For example, aerospace components and engine parts are commonly machined using cutting tools containing tungsten carbide and cobalt.

A shortage of either material could disrupt production even where the manufacturer has no direct purchasing relationship with the mineral supplier.

The report further warns that concentrating exclusively on mining locations can obscure risks associated with mineral processing and asset ownership.

Changing suppliers may therefore provide little additional resilience if alternative sources remain dependent on the same processing facilities or corporate ownership structures.

USD$65 Billion in Public Funding Remains Underutilised

Beyond operational disruption, BCG argues that poor visibility over mineral dependencies is preventing industrial companies from accessing government-backed investment programmes.

According to figures cited from the International Energy Agency, public finance commitments for critical minerals in advanced economies reached approximately USD$65 billion in 2025, more than four times the level recorded in 2023.

However, BCG’s review of government-backed investment vehicles found that some countries had deployed less than 10 per cent of allocated capital, while others had not deployed any.

Access to these programmes frequently depends on companies making credible offtake commitments, which can be difficult without a detailed understanding of their mineral requirements and supply chain exposure.

Karthik Valluru, Managing Director and Senior Partner at BCG and co-author of the report, said: “These blind spots have a cost beyond risk. The money is there, but it comes with offtake requirements, and a company cannot make a credible commitment without knowing its own exposure.”

“Mapping that exposure properly is where the opportunity starts.”

Although the funding programmes carry conditions, including reporting and localisation requirements, BCG believes they could help companies secure strategic mineral supplies.

Critical Minerals Become a Boardroom Priority

BCG argues that addressing these risks requires greater executive involvement in mineral sourcing strategies, extending beyond conventional procurement and supplier management.

The consultancy found that industrial companies and trading businesses which had successfully accessed public capital were often led through the process by their CEOs and executive teams.

The findings highlight the importance of processing capacity, byproduct recovery and long-term offtake agreements in meeting industrial demand.

For manufacturers and procurement leaders, they reinforce the need to map mineral dependencies across multiple supplier tiers, including the materials embedded in components and production equipment.

As demand for strategically important minerals increases, BCG warns that businesses unable to identify their exposure risk overlooking both potential supply disruptions and opportunities to secure future access to critical resources.

The post BCG Warns Critical Mineral Shortages Could Disrupt Global Industrial Supply Chains appeared first on Mining Outlook.

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