Sustainability Strategy Supports Responsible Mining at Asanko Gold Mine

The report outlines progress in environmental stewardship, workforce development, community investment, health and safety performance, human rights management and governance practices, while highlighting the company’s long-term sustainability priorities.

According to Galiano, the report reflects its approach to creating long-term value through responsible gold production, stakeholder engagement and disciplined operational management.

Environmental Performance Remains Strong

Galiano reported zero significant environmental incidents during 2025 and highlighted strong performance in environmental audits conducted at the Asanko Gold Mine.

The company also advanced mine rehabilitation initiatives through pilot projects involving rosewood forestry and cashew farming on reclaimed land, supporting efforts to restore previously mined areas and explore alternative post-mining land uses.

These initiatives form part of the company’s broader environmental management strategy aimed at reducing operational impacts while supporting long-term land stewardship.

“Our sustainability strategy is focused on value creation and risk mitigation. By prioritizing local employment, making targeted community investments, and actively managing our environmental footprint, we strengthen operational resilience while supporting long-term socioeconomic outcomes in our host regions,” said Matt Badylak, President and Chief Executive Officer at Galiano Gold.

Community Investment and Local Participation

A key focus of the report is Galiano’s contribution to local economic development in Ghana.

During 2025, the company launched a Five-Year Socio-Economic Development Plan designed to guide community development programmes and social investment activities around the Asanko Gold Mine.

The report also highlights a high level of workforce localisation, with 99.9% of employees at the operation identified as Ghanaian nationals.

In addition, Galiano reported supporting 367 Ghanaian businesses through its procurement and supplier engagement activities, reflecting the mine’s role in supporting local economic participation and supply chain development.

Health and Safety Recognition

Health and safety performance remained a significant area of focus throughout the reporting period.

The Asanko Gold Mine was recognised in the Occupational Health and Safety category of Ghana’s Annual Mine Audit, First Aid and Safety Competition.

The report notes that health and safety programmes continue to be integrated across operations, with ongoing efforts to strengthen workplace safety practices and support employee wellbeing.

Human Rights and Governance Framework Strengthened

Galiano reported significant progress in implementing its Human Rights Impact Assessment Action Plan, with most recommendations completed ahead of schedule.

The company outlined several initiatives undertaken during the year, including enhanced stakeholder engagement, contractor compliance monitoring, community grievance mechanisms and ongoing human rights training for employees, contractors and security personnel.

The report also highlighted continued implementation of the Voluntary Principles on Security and Human Rights (VPSHR), including refresher training for security personnel and integration of VPSHR requirements into operational procedures.

As part of its governance enhancements, Galiano established and operationalised a Technical Committee of the Board of Directors and published a new Tailings Management Policy.

Managing Operational and Social Risks

The report provides insight into how the company manages security, community relations and human rights risks associated with operating in regions affected by illegal mining activity.

Galiano said it continued to work with government agencies, industry organisations, local authorities and community representatives to address illegal mining challenges through a coordinated and multi-stakeholder approach.

The company also reported ongoing efforts to strengthen contractor oversight, workplace safeguards and community engagement processes, including the reinstatement of community liaison functions and expanded stakeholder consultation programmes.

Focus on Long-Term Sustainable Mining

The 2025 Sustainability Report positions ESG performance as a core component of Galiano’s operating model, with continued emphasis on environmental management, local economic development, workforce participation and governance accountability.

Through the Asanko Gold Mine, the company said it remains focused on maintaining high operational standards while supporting host communities and strengthening the long-term sustainability of its mining activities in Ghana.

“Looking ahead, we will continue to build on this solid foundation through disciplined execution, transparent reporting, and forward-looking initiatives aligned with our commitment to responsible mining, environmental stewardship, and strong governance,” added Badylak. 

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Company Targets Next Phase of Gold Production Growth

The initiatives form part of the company’s new three-year “DRIVE to 300” aspiration, which aims to double production and increase processing capacity across its Western Australian operations. The company emphasised that DRIVE to 300 is an aspirational goal and not a production target or forecast.

The approved projects are expected to increase combined milling nameplate capacity to 4.2Mtpa by FY29 while delivering operational efficiencies, lower unit costs and greater flexibility across the Davyhurst operation.

Board Approves A$375 Million Processing Plant Expansion

The centrepiece of the growth strategy is the construction of a new standalone 3.0Mtpa nameplate processing plant at Davyhurst, representing a total capital investment of A$375 million.

Ora Banda has selected GR Engineering Services as its preferred EPC contractor for the project, with the proposed EPC contract valued at A$233 million. Additional infrastructure, owner’s costs and contingency account for approximately A$142 million of the total project cost.

Construction is scheduled to commence in FY27, with commissioning targeted for the third quarter of FY28. The new facility will be located adjacent to the existing Davyhurst plant, which has a nameplate capacity of 1.2Mtpa and has recently operated at rates of up to 1.4Mtpa.

According to the company, the new processing plant will incorporate a single-stage jaw crusher, SAG and ball milling circuits and a gravity plus hybrid CIL recovery circuit designed to achieve approximately 91% recovery.

Waihi Underground Approved as Third Mining Operation

Ora Banda’s board has also approved development of the Waihi Underground project, which will become the company’s third underground mine.

Located approximately four kilometres from the Davyhurst mill, Waihi is expected to provide access to the high-grade Golden Pole lode and supply higher-grade ore during a period when processing capacity remains constrained.

The project has a maiden Ore Reserve of 825,000 tonnes at 3.8g/t for 101,000 ounces of gold, including the Golden Pole Ore Reserve of 254,000 tonnes at 5.0g/t for 41,000 ounces.

Portal development is scheduled to begin in FY27, with first ore anticipated in the third quarter of FY27 and steady-state production expected by the first quarter of FY28.

Funding Strategy Supports Expansion Programme

To support the expansion programme, Ora Banda has increased its revolving credit facility from A$50 million to A$200 million through an amended syndicated facility agreement with ANZ and Commonwealth Bank of Australia.

The facility has a three-year term extending to June 2029 and is intended to provide additional financial flexibility during the construction and development phase.

The company reported a cash balance of A$232 million as of 31 March 2026, resulting in a pro-forma liquidity position of approximately A$432 million when combined with the undrawn facility.

Ora Banda has also expanded its gold price protection programme through a combination of put options and partial collars designed to manage commodity price risk during the capital investment period.

Management Highlights Long-Term Growth Potential

Luke Creagh, Managing Director, Ora Banda Mining, said:

“The DRIVE to 300 is the exciting next phase for Ora Banda, building on earlier success with the achievement of to DRIVE to 100 and DRIVE to 150.

“This doubling of production is currently expected to be capable of being internally funded and has the potential to add material value and position Ora Banda as a long-term sustainable gold business.”

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Final bidders shortlisted

The sale process for South Australia’s Whyalla Steelworks has entered its final stage, with the Australian and South Australian governments confirming that two bidders have been shortlisted to acquire and modernize the strategically important steelmaking operation.

The development marks a significant milestone in efforts to secure the long-term future of the Whyalla facility, which was placed into administration by the South Australian Government last year following financial difficulties under its former owner.

The governments said the process has attracted strong international interest, with more than 70 parties initially expressing interest and five industrial groups progressing to the binding bid stage earlier this year.

Focus shifts to low-emission steelmaking and long-term industrial capability

The shortlisted bidders have now been invited to submit final funding proposals as part of a broader plan to transition Whyalla into a modern, low-emissions steelmaking operation.

The Albanese and Malinauskas governments have committed up to AU$1.9 billion in partnership funding alongside a future owner to support the transformation of the facility.

The Whyalla Steelworks is viewed as a strategically significant industrial asset due to its integrated mining, processing and export infrastructure, as well as its role in supporting Australia’s domestic steel supply chain.

Government leaders said the transition is intended to strengthen sovereign steelmaking capability while positioning Whyalla to capitalize on growing demand for lower-emissions steel production.

Governments continue operational support during transition

The Australian and South Australian governments said they will continue jointly funding administration costs to ensure ongoing operations at the site during the sale process.

The support is intended to allow administrators to maintain safe operations, pay employees and suppliers, and undertake critical works needed to improve the long-term viability of the Steelworks.

The governments also reiterated commitments to support workers and the broader Whyalla community throughout the ownership transition and modernization process.

Strategic importance of magnetite resources and green industrial development

The Whyalla operation sits within the Upper Spencer Gulf region, which is home to significant magnetite iron ore resources increasingly viewed as important to future low-emissions steelmaking pathways.

The sale process is being closely watched across the mining and steel sectors as Australia seeks to expand downstream processing capability and capture more value from domestic mineral resources.

Industry observers have pointed to growing global interest in green steel production and vertically integrated supply chains supported by renewable energy and higher-grade iron ore feedstocks.

Minister for Industry and Innovation and Minister for Science Tim Ayres said:

“A Future Made in Australia means making the things Australia needs here. The Whyalla intervention is central to that: securing sovereign steelmaking, backing workers, and building the next chapter of low-emissions Australian manufacturing.”

“This is about keeping Australian steel onshore for decades to come using Australia’s abundant resources and renewable energy to create more value, more jobs and lower emissions.”

“We’re partnering with South Australia and will work with a new owner to modernise Whyalla – investing alongside industry to deliver a modern, low-emissions facility and a stronger industrial future.”

“The interest in Whyalla reflects what we already know: this is a strategic, pit-to-port asset with a strong future in iron and steel and it belongs at the heart of a Future Made in Australia.”

South Australian Premier Peter Malinauskas added:

“The intervention we led in Whyalla in partnership with the Albanese Government has given the Australian structural steel industry a stable footing and the prospect of a strong future.”

“We are pleased to see two high quality bidders shortlisted for the sales process.”

“These bidders are well resourced and well positioned to deliver what we have always sought – a long term, modern, low-emission sovereign steelmaking business capitalising on the opportunities before us in the Upper Spencer Gulf and its world-leading magnetite resource.”

“We know this massive transition will not occur without some pain – but we must not lose sight of the opportunity to secure this crucial industry for our nation for the long term.”

“This is a position we would have gladly taken when we put the Steelworks and associated mine operations into administration a little over a year ago.”

“We look forward to completing the work ahead.”

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Sustainable Mining Progression

Pan American Silver has released its 2025 Sustainability Report, outlining progress across environmental, social and governance priorities as the company continues to expand responsible mining practices across its operations in the Americas.

The report highlights advances in emissions reduction, renewable energy procurement, biodiversity rehabilitation, workforce inclusion and supplier due diligence, while also setting out the company’s sustainability goals for 2026.

Pan American reported that it surpassed its annual greenhouse gas emissions reduction target, keeping the company on track to reduce global Scope 1 and 2 greenhouse gas emissions by at least 30% by 2030 from its updated 2019 baseline projections.

Renewable Energy and Emissions Reduction Initiatives Expand Across Operations

A key component of the company’s climate strategy in 2025 was the expansion of International Renewable Energy Certificates (iRECs) coverage to six mine sites, with El Peñon, Jacobina and Shahuindo added during the year.

Pan American also reported strong environmental performance across its operations, including the rehabilitation of 62 hectares of land on- and off-site, exceeding its annual biodiversity target.

“Pan American maintained a strong environmental performance in 2025, recording no significant environmental incidents,” said Gillian Winckler, Board Chair. “We remain on track to exceed our 2030 emissions reduction target, following the achievement of our 2025 interim goals. Progress was driven by increased procurement of clean electricity, ongoing electrification of mining processes, and numerous site-level innovations aimed at reducing energy use and greenhouse gas emissions.”

The report noted that climate adaptation, energy transformation and operational efficiency initiatives are expected to continue contributing to emissions reductions in 2026 and beyond.

Community Investment and Workforce Inclusion Remain Strategic Priorities

Pan American invested US$20.4 million in community programs during 2025, including the launch of three new local economic development initiatives alongside continued investment in health and education programs.

The company also reported a 95% retention rate among women employees while continuing initiatives designed to support workforce inclusion and diversity.

“With a workforce of over 17,000 employees and contractors operating across eight countries and in diverse social and environmental contexts, we recognize that responsible stewardship of people, communities, and environments is fundamental to our ability to operate and grow,” Winckler said. “Sustainability is not separate from our business strategy; it is embedded in how we manage risk, build trust, and create long-term value across our portfolio.”

Responsible Mining Standards and Supply Chain Oversight Advance

Pan American continued strengthening responsible mining and supply chain oversight during 2025 through supplier due diligence and external ESG verification programs.

The company assessed 529 critical suppliers through its enhanced due diligence process, which evaluates factors including operational continuity risk, environmental risk and legal exposure.

Pan American also completed external verification of Towards Sustainable Mining (TSM) performance at its El Peñon, Jacobina and Timmins operations.

The company also concluded a three-year implementation process of the World Gold Council’s Responsible Gold Mining Principles at its gold mining operations.

The 2025 Sustainability Report was prepared in accordance with Global Reporting Initiative (GRI) Standards and the Sustainability Accounting Standards Board (SASB) Metals & Mining Sustainability Accounting Standard, and includes information aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) framework.

Safety and Sustainability Performance Continue to Shape Operational Strategy

Pan American stated that safety and responsible mining remain central to its operational strategy following the loss of two colleagues during 2025.

“At Pan American, safety underpins our commitment to responsible mining,” said Michael Steinmann, President & CEO. “Our performance in 2025 was deeply overshadowed by the loss of two colleagues—one each at our Jacobina and Shahuindo operations. These losses reinforce the importance of our ongoing efforts.”

Steinmann added that the company plans to strengthen safety practices in 2026 through increased focus on critical risk management, continued integration of Human and Organizational Performance principles, and targeted technology and operational improvements.

The company reported achieving 19 out of 24 public sustainability goals in 2025, representing a 79% success rate.

Pan American’s sustainability performance was also recognized by S&P Global during the year through inclusion in the Dow Jones Best in Class North America Index and the S&P Global Sustainability Yearbook 2026, where the company ranked in the top 5% of the Metals & Mining industry based on sustainability performance.

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FINNISH MINING SPOTLIGHT

Finland is located on the Fennoscandian Shield, which yields important industrial minerals and metals such as iron, nickel, copper, and platinum group metals, not to mention gold.

Given its strong similarities to the Canadian Shield and cratons of Southern Africa and Western Australia, the Fennoscandian Shield hosts world-class deposits of critical and strategic raw materials.

However, the area is considered underexplored compared to its international counterparts. The Central Lapland Greenstone Belt in Northern Finland, for example, is unexplored and believed to have significant potential for gold deposits.

Alongside its mineral potential, Finland hosts leading education and R&D facilities, which are strongly supported by the government to develop green and sustainable mining technologies.

Finland is an excellent hub for mining technology and has systematically developed its mining cluster, which today includes more than 10 mining-related universities and research organisations and 200+ mining technology and service providers.

Consequently, the country is considered one of the world’s most attractive mining jurisdictions, not only due to its geology and availability of geological data but also its well-developed and innovative mining ecosystem.

Q&A WITH ALEKSI SALO, CEO, MINING FINLAND

Recently appointed as CEO of Mining Finland in November 2025, Aleksi Salo outlines how he will continue the association’s excellent work in promoting the export of domestic mining expertise and building networks.

Firstly, could you introduce us to Mining Finland and your purpose?

Aleksi Salo, CEO (AS): Mining Finland is an association for Finnish mining and exploration-related technology, service, education, and research providers.

We define ourselves as a cluster, which means we work together. The main aim is to increase business – specifically export business – for Finnish technologies and services.

On top of that, we facilitate networking with companies here in Finland but also internationally. We promote Invest in Finland activities in the minerals sector, specifically for junior explorers and miners, and responsible, sustainable mining in general.

What is your current take on the mining industry in Finland?

AS: Ongoing mining projects – mines that will be opened in the next five to 10 years – are progressing rather smoothly.

This is a result of effective mineral strategies, regulation, and geological data policies that were implemented in the early 2000s and 2010s.

Unfortunately, the recently introduced mineral tax in Finland has cast a shadow on some of the larger operating mines, but we hope to see some light at the end of the tunnel.

You recently became CEO in November 2025. How have you found the role so far and why does it excite you?

AS: In this role, I believe I can have a positive impact on the growth of business and the Finnish mining sector as a whole.

It’s an exciting opportunity to have an actual impact in the sector, specifically promoting sustainable and responsible mining technologies, water management technologies, mineral processing, and original equipment manufacturers (OEMs) in international mining, having a positive impact on their growth of exports.

I bring expertise to the role gained from my geological and mining background, as well as my international project background at the Geological Survey of Finland.

How will you continue the association’s excellent work in promoting the export of domestic mining expertise and building networks?

AS: It’s good to stand on the shoulders of the three previous CEOs that worked here, and I’d like to express my most sincere gratitude to them.

During the last two or three years, the network has grown quite a bit to over 100 members – 130, to be exact.

When I started, one of the main priorities was to set certain goals and try to find key geographical market areas for our activities. With the size of our cluster, managing the expectations of members and global counterparts is also a key priority.

How does Mining Finland help Finnish companies expand into developing markets?

AS: Our key activities include attending conferences and fairs. Specifically, this is a very appealing opportunity for small to medium-sized enterprises (SMEs) who might not be able to cover the costs of their own booth, for example, and are maybe not so familiar with the market.

Our Mining Finland brand helps potential clients and stakeholders to recognise these companies are from Finland and connect with renowned Finnish processing and mining brands.

In addition, I personally create contacts and networks with the embassies of countries here in Finland. With the help of the Team Finland network and Business Finland, we work together to organise delegations and create webinars from ourselves to the target country and vice versa, explaining their business potential to our entrepreneurs and companies.

There are a lot of ways you can approach this, and it changes market by market.

Can you also tell us about the association’s focus on the expansion of critical minerals production linked to technology production?

AS: We have members that are research and education institutions, and a lot of the SMEs are start-ups, which means there is still room for testing, piloting, and proving the concept of their business.

We help companies and research organisations to find each other, but also willing business partners globally wanting to help pilot the solutions our companies have.

There is quite a sufficient amount of research funding available both domestically and within the EU, but purely business-orientated research is also welcomed in collaboration with our members.

How do you see the mining industry in Finland developing by the end of the decade?

AS: There are some mining projects in the pipeline which I hope will be in production by then; gold and platinum mines would be the most realistic to open by 2030.

Some expansion projects are in the pipeline as well, which I hope to see positive decisions on. The challenge is the regulatory environment, which might hinder or at least slow them down; court appeal processes in particular take time.

I would also like to see the mining industry be able to communicate its significance to the economy and subsequent value chains more clearly. It would give the general public more clarity about the benefits of the investments pouring in and expansion projects being realised.

Lastly, what are Mining Finland’s key priorities in order to continue promoting the export of technology, services, and education from the Finnish mining cluster to international markets?

AS: We are executing our strategy, which focuses on export promotion and creating permanent connections and collaborative models with our international network.

Of course, we want to grow, but there is a limit since Finland is a small country. We want more of our ecosystem actors to be part of this and more companies thinking of expanding into developing markets globally to join us and start doing expert promotion together with others in our network.

I would also like to see our activities on the Invest in Finland side of things start to realise themselves in a way that enables more funding for our junior explorers and miners in the coming four years’ time.

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EUROPE’S CRITICAL MINERALS COMEBACK

As it undergoes a structural shift, Europe’s mining and minerals sector is being transformed.

Over the last few decades, the primary production of metals and critical raw materials (CRMs) has moved gradually away from Europe, leaving the continent dependant on imports.

“Magnesium is one of the clearest examples of this – the EU does not currently produce a single tonne (t) of primary magnesium metal, although it is essential for the automotive, aerospace, and defence industries and producing aluminium alloys. The situation is similar in the US,” opens Alexandru Rosu, CEO of Verde Magnesium – a strategic project under the EU’s CRM Act.

Indeed, in the last three to four years, the region’s policy framework has changed noticeably, with the CRM Act, the Industrial Accelerator Act (IAA), Carbon Border Adjustment Mechanism (CBAM), and RESourceEU Action Plan all coming into play.

“For the first time, we’ve created a coherent trajectory for the industry – Europe wants to rebuild its own capacity in CRMs around its own environmental and social standards,” Rosu excites.

The recently signed EU-US Memorandum of Understanding (MoU) on CRMs reinforces this momentum by establishing a transatlantic framework for cooperation on supply chain diversification.

“The political will exists; now, the implementation policies need to catch up to overcome the factors that have insofar determined a lack of competitivity and ultimate disappearance of CRM industries from the EU and US,” he insights.

The sector faces other clear challenges, with energy prices remaining too high to support energy-intensive processing, and the implementation of green and low-carbon technologies competing with imports that rely on coal.

In addition, local content quotas are missing, financing instruments are not yet adapted to the realities of CRM projects, there are no dedicated grant calls for mining or strategic operations, and the standard application templates do not fit the unique nature of these investments.

“These challenges need to be addressed in an integrated manner, offering investors the tools and mechanisms needed to effectively revive Europe’s CRM industries,” he adds.

SUSTAINABLE, LOW-CARBON FUTURE

On track to become the first European magnesium producer in 25 years, Verde Magnesium is pioneering a sustainable, low-carbon approach to magnesium production.

To date, the company is the only European strategic project for magnesium designated under the CRM Act.

“Our mission is to create a sustainable, low-carbon, and circular model for the European magnesium metal supply chain over the next two decades on the Budureasa deposit in Bihor County, Romania,” Rosu tells us.

Indeed, he points out how the sustainability profile of the project is built into its geology and process design – rather than being an add-on.

The deposit itself is a brucite-rich resource of magnesium hydroxide that co-exists with dolomite and calcite in alkaline, chemically stable rock.

“From a mining perspective, the environmental impact will be like that of a construction rocks quarry, of which there are thousands across Europe,” Rosu explains.

Verde Magnesium’s process, meanwhile, involves an aluminothermic reduction route using calcined ore and aluminium scrap together with electric furnaces, dry processing, and full carbon dioxide (CO₂) capturing and processing for valorisation as dry ice.

“There is no cyanide, acid-leaching tailings dam, sulphide ore, heavy-metal compounds, chlorine, or emissions involved. Even the process’ by-product, calcium aluminate, is a saleable input for the steel and cement industries,” he details.

In terms of its energy strategy, the project’s processing platform is being designed to run on renewable sources – primarily solar with battery storage – with the option to integrate hydro, wind, and geothermal power as the regional energy mix evolves.

“With 100 percent green power, this becomes a near-zero carbon primary magnesium operation,” Rosu continues.

Independent industrial-scale pilot tests have confirmed magnesium metal at 99.9 percent purity, whilst a life cycle assessment (LCA) carried out by the German Aerospace Centre (DLR) has validated the project’s carbon performance, confirming it is the cleanest magnesium metal production process worldwide.

AIDING THE AUTOMOTIVE TRANSITION

As the lightest structural metal – around 35 percent lighter than aluminium and 78 percent lighter than steel – Verde Magnesium recognises the significant role sustainable magnesium plays in the automotive transition towards decarbonised and electrified mobility.

“For electric vehicles (EVs) in particular, this lightweight advantage translates directly into increased range, battery efficiency, and emissions reductions,” Rosu clarifies.

Every kilogramme (kg) removed from the vehicle’s structure decreases energy consumption per kilometre (km) and increases range.

Whilst magnesium is already present in legacy and automotive components such as steering wheels, seat frames, and instrument panel supports, its application is now expanding into larger automotive structural parts, such as transmission casings, structural assemblies, and EV housings.

Indeed, thixomolding and emerging gigacasting techniques have made it economically viable to produce intricate, large-format magnesium components that were not feasible just a decade ago.

“Magnesium being lightweight is not enough, which is why we’re producing magnesium with a cradle-to-gate carbon footprint, which is roughly a few orders of magnitude below the dominant industry process,” he elaborates.

In this way, Verde Magnesium gives European original equipment manufacturers (OEMs) and Teir 1 suppliers an input that is consistent with their supply chain requirements and the environmental and social standards they aim to meet.

EUROPEAN SUPPLY ALTERNATIVE

With Europe’s magnesium demand currently being met entirely by imports, it is more important than ever for Verde Magnesium to offer the continent an internal supply alternative.

“The global market is highly concentrated, with China providing 90 percent of global production, exposing every European industrial user to volatility driven by factors outside of their control, such as energy prices, environmental policy adjustments, freight, and trade measures,” Rosu details.

China’s magnesium industry is mature and efficient on its own technological terms, with a unique industrial ecosystem that enables efficiencies and economies of scale.

An internal European supply alternative diversifies sourcing and allows the procurement of magnesium produced under the continent’s environmental, labour, and governance standards.

“This matters even more in a world where Scope 3 reporting, CBAM, environmental, social, and governance (ESG) standards, and due diligence are increasingly prevalent,” he points out.

It also rebuilds industrial know-how – engineering, metallurgy, and skilled labour – on European soil, which is a precondition for any longer-term reindustrialisation strategy.

“Verde Magnesium aims to add resilient, sustainable, European-standard capacity into a market that today has none of it,” he says.

ACTIONING ROMANIAN RESOURCES

As Verde Magnesium has demonstrated, producing critical raw materials in Europe at the lowest carbon footprint in the world is technically possible.

To become an effective commercial success, however, there is a structural gap in the EU’s carbon-pricing architecture that must be overcome.

Currently, the EU Emissions Trading System (EU ETS) assigns a price to the CO₂ that is emitted inside Europe – but assigns no economic value to the CO₂ avoided when European production substitutes for high-carbon imports.

The result is a structural cost gap – European low-carbon producers carry a higher cost base than coal-fed incumbents, and the verified climate benefit they deliver is therefore not reflected in the price.

“The illustrative arithmetic is striking – one t of European primary magnesium produced via our route avoids approximately 25 t of CO₂ relative to the dominant imported alternative,” Rosu exemplifies.

At the current EU allowance price, the avoided emissions has a carbon-cost equivalent of roughly €1,900 per t of magnesium – comparable in magnitude to the cost gap that today prevents European production from competing.

“The policy fix is straightforward and consistent with the EU’s existing climate architecture: allow a CRM Act-compliant project – together with a verified, third-party LCA – to receive tradeable carbon certificates equivalent to the avoided emissions, sized against the footprint of the displaced import,” he explains.

Rosu also points out that doing so would not weaken the EU’s climate ambition – in fact, it would reward real, additional, and verifiable reductions that the current system simply cannot capture.

As such, Verde Magnesium has shared a structured proposal along these lines with the European Commission, and it believes it deserves serious consideration as part of the upcoming EU ETS review cycle.

“Romania has the resources, and the EU has the policy framework. The technology is valid, and what remains now is execution,” Rosu emphasises.

Working in close cooperation with the European Commission, Romanian authorities, its investors, and host communities in Budureasa and Beiuș, Bihor County, this what Verde Magnesium is focused on going forwards.

SOCIALLY RESPONSIBLE

With its future industrial processing platform to be based in Budureasa and the Mother Plant located in Beiuș, Verde Magnesium engages with Romanian communities directly, transparently, and on an ongoing basis.

“The economic benefits of our activities flow through several channels, such as the land lease and concessions income afforded to local landowners,” Rosu shares.

Direct employment is also a tangible benefit, with the company’s mining phase requiring between 100 and 120 staff at full development, the magnesium smelter up to 200, and the magnesium compounds line up to 100.

“Indirect employment and service contracts – catering, transport, maintenance, security, and technical services – are also required, boosting local employment,” he adds.

Further to this, local tax revenues to the municipality, which have the potential to generate budget surpluses, are redirected to community-priority projects.

Beyond direct economic contribution, Verde Magnesium has committed to and is already delivering community support.

This is taking place across education, cultural heritage, sporting events (such as the Budureasa Mountain Running competition), and ongoing engagement with vocational schools, enabling Verde Magnesium to align training with the skills its project will eventually require.

“Our principle is simple – a project is sustainable in the long-run only if the host community benefits in measurable, verifiable ways and is treated as a partner, not a stakeholder to be managed,” Rosu notes.

DELIVERING ON THE FUTURE

Looking ahead to the next 12 months, Rosu reflects on how Verde Magnesium is focused on converting strategic priorities into hard deliverables.

This includes implementing a robust Environmental and Social Impact Assessment (ESIA) with environmental resource management (ERM) aiming to be finalised in 2027, and a scoping study and biodiversity baseline already in place.

It will also undertake a field data verification campaign within the frameworks of a modern quality assurance and control protocol.

“We will execute the twinning and infill drilling programme, aiming to certify and extend the historical geological information via a fully Joint Ore Reserves Committee (JORC)-compliant mineral resource and ore reserve estimate,” Rosu asserts.

Verde Magnesium also has plans to restart the mine this year by putting the existing quarry back into production by the end of 2026, which restarts the operational cycle and starts generating local benefits.

In terms of magnesium metal production, it will begin with the 360 t per annum (tpa) Mother Plant, followed by the construction of a higher capacity smelter of up to 30 kilo tonnes per year by 2030.

“Subject to successful negotiations for firm off-take agreements with various industrial groups in the EU and US, our higher capacity smelter development will be accelerated,” he confidently concludes.

The post Verde Magnesium : Europe’s Critical Minerals Comeback appeared first on Mining Outlook.

The groundbreaking ceremony at Saint-Michel-des-Saints brought together Canadian Prime Minister Mark Carney, Quebec Minister of Economy and Energy Bernard Drainville, Indigenous leaders and regional stakeholders, underscoring the project’s strategic importance for battery materials and energy transition supply chains.

Matawinie Project Targets Large-Scale Graphite Production

The Matawinie operation is expected to reach commercial production by the end of 2028 following an estimated 31-month construction and commissioning phase.

Once operational, the mine is forecast to produce approximately 106,000 tonnes of graphite annually, positioning the project as a significant source of natural graphite for North American and global battery manufacturing markets.

Production is already supported by commercial agreements with partners including Panasonic Energy, the Government of Canada and Traxys North America, covering more than 70% of expected output.

Founder, President and CEO Eric Desaulniers of NMG said the construction launch represented years of planning and collaboration.

“This groundbreaking marks far more than the start of construction; it represents the culmination of years of dedication and perseverance by our employees who have firmly believed in our vision from the very beginning. I would like to sincerely thank them for their exceptional efforts and contributions. I also wish to acknowledge the invaluable support and commitment of all levels of government, the Atikamekw Nation of Manawan, the Municipality of Saint-Michel-des-Saints, as well as our other partners and clients,” he said.

Integrated Critical Minerals Strategy

The project forms part of Nouveau Monde Graphite’s vertically integrated strategy to develop a full ore-to-battery-material supply chain in Quebec.

Alongside the Matawinie mine, the company is advancing plans for a battery material plant in Bécancour, targeting a final investment decision during the second half of 2026. The facility is planned to produce 13,000 tonnes annually for Panasonic Energy under an existing offtake agreement.

The Government of Canada previously designated the project as a major project of national interest, highlighting its role in strengthening domestic critical mineral production and reducing reliance on overseas graphite supply.

Focus on Mining Investment and Community Development

Sipi Flamand, Chief of the Atikamekw First Nation of Manawan, said the project would support economic reconciliation and long-term employment opportunities for Indigenous communities.

“The start of construction of the Matawinie graphite mine represents a concrete step toward true economic reconciliation. It is the result of a relationship between the company and the community based on respect, trust, and a shared vision for the development of our territory. It will create quality jobs for our members and enable sustainable business opportunities for our enterprises. By supporting this project, our community is also proudly contributing to the growth of a global green economy. This is a project that will bring prosperity for generations to come.”

The integrated project is expected to create several hundred construction jobs and more than 300 permanent operational roles once fully commissioned.

The post Nouveau Monde Graphite Launches Construction of Matawinie Mine Project in Quebec appeared first on Mining Outlook.

Six Decades of Pilbara Iron Ore Production

The milestone cargo departed Cape Lambert on 19 May aboard the Juno Horizon, bound for longstanding customer Nippon Steel Corporation, marking another chapter in a trading relationship that began with Rio Tinto’s first Pilbara shipment to Japan in 1966.

The achievement highlights 60 years of continuous iron ore operations across the Pilbara, which remains central to global steel supply chains and Asian steel production.

Rio Tinto Iron Ore Chief Executive Matthew Holcz described the shipment milestone as a reflection of decades of operational investment and regional partnerships.

 “Shipping 8 billion tonnes of iron ore from the Pilbara is a significant milestone and a testament to the generations of people who have built and sustained our operations, infrastructure and communities over the past 60 years.

“We thank successive governments for their sustained support. We are also grateful to the Traditional Owners groups across the Pilbara for their ongoing partnership, and for the knowledge, guidance and stewardship they continue to share with us.

“Japan was Rio Tinto’s first customer for iron ore exports, and that partnership remains a cornerstone of our business today. As global steel demand increases, we’ll continue to invest in our Pilbara operations and local communities for decades to come.”

Long-Term Growth Strategy for Pilbara Operations

Rio Tinto said continued investment in Pilbara infrastructure and mining capacity will remain central to meeting future global steel demand.

A key part of that strategy is the advancement of studies at the Rhodes Ridge project, one of the world’s largest undeveloped iron ore deposits. The operation has potential long-term production capacity of around 100 million tonnes annually of high-grade iron ore.

The project is expected to support Rio Tinto’s broader objective of sustaining Pilbara production capacity between 345 million and 360 million tonnes per annum over the medium term.

Pilbara Operations Continue to Support Regional Economies

Rio Tinto’s Pilbara network has also played a major role in supporting regional development across Western Australia, including towns such as Karratha, Tom Price, Paraburdoo and Dampier, alongside broader fly-in fly-out workforce communities across the state.

The latest milestone reinforces the continuing importance of large-scale iron ore supply, infrastructure investment and long-term customer partnerships in the global mining sector.

The post Rio Tinto Marks 8 Billion Tonnes of Pilbara Iron Ore Shipments appeared first on Mining Outlook.

A Global Rare Earth Leader

USA Rare Earth has announced a definitive agreement to acquire 100% of Serra Verde Group, owner of the Pela Ema rare earth mine and processing plant in Goiás, Brazil, in a transaction valued at approximately $2.8 billion.

The acquisition combines USA Rare Earth’s downstream processing and magnet-making capabilities with Serra Verde’s producing rare earth operation, which the companies describe as the only scaled producer outside Asia capable of supplying all four magnetic rare earth elements.

The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals and customary closing conditions.

Rare Earth Supply Chain Expansion Outside Asia

Under the terms of the agreement, consideration includes $300 million in cash and 126.849 million newly issued shares of USA Rare Earth common stock.

The combined business aims to establish an integrated rare earth supply chain covering mining, processing, separation, metallization and magnet production.

Serra Verde’s Pela Ema operation contains all four magnetic rare earths required for permanent NdFeB magnets, including Dysprosium, Terbium and Yttrium. The mine entered production in 2024 following more than $1.1 billion in capital investment.

USA Rare Earth said the acquisition strengthens its position in critical minerals and supports long-term rare earth supply security outside Asia.

Barbara Humpton, Chief Executive Officer of USA Rare Earth, said: “The acquisition of Serra Verde represents a transformational step in delivering on our ambition to build a global champion and the partner of choice in rare earth elements, oxides, metals and magnets. Serra Verde’s Pela Ema mine is a one-of-a-kind asset and the only producer outside Asia capable of supplying all four magnetic rare earths at scale, together with other vital REEs, such as Yttrium. Serra Verde’s global importance is evidenced by its 15-year offtake agreement with a special purpose vehicle capitalized by various U.S. Government entities, as well as private capital sources, for 100% of its Phase 1 Nd, Pr, Dy and Tb production.

By combining Serra Verde’s world-class operations and team with our processing, separation, metallization and magnet-making capabilities, we are advancing our goal of creating a fully integrated platform that will serve as a cornerstone of global rare earth supply security for decades to come.”

Critical Minerals Strategy and Heavy Rare Earth Production

Serra Verde production is expected to represent more than 50% of total non-China heavy rare earth supply by 2027.

The combined company plans to expand capabilities across the full rare earth value chain, including upstream mining and downstream magnet manufacturing.

Expansion opportunities include a potential Phase 2 increase in production at Pela Ema and the continued development of USA Rare Earth’s Round Top project.

Rare Earth Production Capacity and EBITDA Targets

Serra Verde is projected to produce approximately 6,400 metric tons of total rare earth oxide (TREO) annually at Phase 1 nameplate capacity by the end of 2027.

Serra Verde is expected to generate annualized run-rate EBITDA of between $550 million and $650 million by the end of 2027, based on 100% separated oxide sales.

The combined company is expected to generate approximately $1.8 billion of annualized EBITDA by the end of 2030 with around 80% cash flow conversion.

US Government Support and Rare Earth Offtake Agreements

The deal includes significant backing from U.S. government-related financing and strategic agreements.

Serra Verde has secured a $565 million financing package from the U.S. International Development Finance Corporation to support optimisation and expansion initiatives through to positive cash flow.

The company has also signed a 15-year, 100% offtake agreement with a special purpose vehicle capitalised by various U.S. government entities and private capital sources. The agreement covers all four magnetic rare earths required for permanent magnet production and includes minimum price floors for Neodymium, Praseodymium, Dysprosium and Terbium.

The combined company is expected to have approximately $3.2 billion in pro-forma liquidity, including access to milestone-based financing from U.S. government loan facilities.

Mining Leadership and Executive Appointments

The acquisition will also expand USA Rare Earth’s leadership team and technical expertise.

Sir Mick Davis, Chairman of Serra Verde and former CEO of Xstrata plc, is expected to join the USA Rare Earth board, while Serra Verde CEO Thras Moraitis will become President and a Board Director of USA Rare Earth.

Barbara Humpton will continue as CEO and Board Director, while Michael Blitzer remains Chairman of the Board.

Executive Commentary on Rare Earth Supply Security

Thras Moraitis, Chief Executive Officer of Serra Verde Group, said: “Rare earths represent a strategic nexus where national and energy security, and technological supremacy, converge. The Western rare earth sector stands at a critical inflection point, as governments and strategic industries urgently seek reliable sources of critical rare earths—particularly scarce heavy rare earths.

Over Serra Verde’s 15-year journey, our team has remained steadfastly focused on building a scaled, responsible source of these vital materials that power forward-facing technologies. Joining forces with USA Rare Earth accelerates the realization of our shared vision: establishing a secure, diversified global rare earth supply chain.

We are excited to contribute our operational expertise, government partnerships, and significant growth potential to this combined platform. Leveraging our proven track record and knowhow in upstream development, we will contribute to the development of USA Rare Earth’s Round Top project.

Together, we believe the combined company will deliver a fully integrated rare earth solution at scale, accelerate growth, and create enhanced value for all stakeholders—including shareholders, customers, employees, local communities, and governments spanning Brazil, the United States, and our Allies.”

The post Creating a Global Rare Earth Leader: USA Rare Earth Acquisition of Serra Verde Group Explained appeared first on Mining Outlook.

SIZZLING SUNSTONE

Feldspar is a fascinating mineral that occurs in various forms, including plagioclase. It crystallises from magma and is abundant in igneous, metamorphic, and sedimentary rocks.

The geological processes that shape this material unfold over millions of years, influenced by myriad conditions. Its story begins deep within the Earth’s crust, where magma ascends, driven by intense heat and pressure.

As this molten rock eventually breaches the surface, it cools and solidifies, giving birth to a remarkable formation. Its complex chemical composition is a sodium-calcium-aluminium silicate, making it a significant component of the lithosphere. When viewed from certain angles, feldspar displays a captivating, spangled appearance, adding a unique character to its otherwise solid form.

One of the most striking varieties of feldspar is sunstone, a member of the aluminium tectosilicate mineral group, celebrated for its vibrant colour spectrum. Indeed, the gem can be found in shades ranging from a warm golden yellow and soft peach to vivid orange, deep fiery red, and even rich coppery tones.

However, its intricate geological journey contributes to the distinctive quality that sets it apart – rare, highly coveted, thin, plate-like inclusions that catch the luminosity, creating a mesmerising, glimmering effect that enhances its allure and desirability.

The gem’s remarkable aventurescence – a dazzling, glittery, or metallic glint – is enchanting, created by tiny amounts of copper and iron oxides, such as hematite or goethite, which reflect light and bring the stone to life, giving it an almost ethereal beauty.

This reflective quality, known as the Schiller effect, occurs when light interacts with microscopic layers or inclusions within the stone, creating a sheen that appears to float beneath its surface. Transparent to translucent sunstones exhibit a lively, sun-like sparkle, showcasing a shimmering play of colours that resembles sunlight dancing on their surface.

A RADIENT JOURNEY THROUGH TIME

This stunning mineral is not just a geological marvel; it embodies an intriguing history intertwined with ancient cultures that revered its distinctive qualities.

Throughout time, the sunstone has inspired many captivating tales regarding its origins and uses, particularly within the rich tapestry of Greek, Egyptian, and Nordic mythology, as well as within various Native American cultural narratives.

Commonly known as heliolite – a term derived from the Greek words helios, meaning sun, and lithos, meaning stone – this enchanting gem captures and radiates the warmth and brilliance of sunlight.

In Ancient Greece, the sunstone was held in high esteem, believed to embody the essence of Helios, the sun god, known as Sol in Ancient Rome. The Greeks cherished a fascinating legend that claimed the gem descended from the celestial sphere during a solar eclipse, presenting itself as a precious gift from the heavens.

Conversely, the Ancient Egyptians viewed the sunstone as a sacred emblem of their powerful sun god, Ra. They believed this mesmerising gem could invigorate the physical body, imbuing it with energy and vitality, much like the sun’s life-giving rays. This jewel held deep significance, symbolising not only illumination but also the sun’s strength and warmth, connecting its bearers to the divine.

The Nordic Vikings, skilled seafarers of their time, utilised sunstones as navigation tools on their adventurous journeys across vast, unpredictable seas. By holding these luminous gems up to the light, they could discern the solar position, relying on the incandescent shimmer that the stones emitted to guide them through treacherous waters.

In contrast, Native Americans attributed a profound significance to the sunstones, believing in their extraordinary healing abilities. They employed gems in various medicinal practices, with a legend emerging about a valiant warrior, where, after suffering a grievous injury, his blood dripped onto the sunstones, infusing them with his spirit and turning them a deep shade of red.

This mystical connection was thought to empower the stones, enhancing their restorative properties and making them powerful tools for healing.

MINING MAP

Sunstones are found worldwide, with deposits in countries such as the US, Canada, Mexico, Norway, Russia, India, Sri Lanka, and China. Each region offers quirky variations in colour and aspectual characteristics, illuminating the gem’s remarkable versatility.

In the US, Oregon sunstone stands out for its origin in eastern Lake County, near the unincorporated rural community of Plush, which has a population of only 38. This distinctive variety is notable for its elemental copper, which can crystallise in unusually large formations within the stones.

Furthermore, the presence of copper influences the colouration of sunstones, creating a spectrum of hues that shifts as the gems catch the light, yielding deeper copper tones that lead to a darker, more intense palette.

Elsewhere, Tvedestrand in Norway is renowned for its breathtaking sunstones, which exhibit a shimmering, spangled appearance. This exceptional visual effect arises from the embedded quartz veins that traverse gneiss, a metamorphic rock characterised by its banded or foliated texture and typically coarse-grained. The interplay of minerals creates a beckoning allure, drawing admirers to these Norwegian treasures.

In Siberia, Lake Baikal is famed for producing sunstones that showcase an extraordinary aventurescence, captivating onlookers with their twinkling brilliance reminiscent of sunlight dancing on still water.

The process of mining sunstones is intricate and labour-intensive, beginning with identifying potential deposits. These gems are typically located within basalt flows or in weathered volcanic rock, and the sites must be sufficiently expansive to support mining operations.

Miners employ traditional methods, utilising pick-and-shovel techniques or short adits – small underground passages providing access to the mining zones. Working as cohesive teams, they skilfully extract rough sunstone, wielding chisels and club hammers to break away the encasing rock.

Once extracted, the raw sunstone undergoes meticulous processing to eliminate impurities. Techniques may include washing and drying, with some gems undergoing heat treatment to enhance their effervescent tint and overall appearance.

Finally, artisans transform the processed sunstone into polished cabochons, elegant beads, or intricate sculptures, making it a popular choice in contemporary jewellery design.

The sunstones, especially treasured in regions where they are mined, epitomise a harmonious blend of natural beauty and skilled craftsmanship. The journey from their raw form to exquisite gem demands not only physical labour but also teamwork and meticulous care to preserve the stones’ safety and quality, ensuring each piece reflects the idiosyncratic artistry of nature.

WORSHIPPING SUN SYMBOLISM

These remarkable sunstones have captured the attention of many and are becoming increasingly prominent in contemporary lifestyles.

Their striking, vibrant hues, ranging from warm oranges to deep reds and subtle golds, create a striking allure that often leads enthusiasts to explore their potential metaphysical properties. Many believe they enrich the lives of those who cherish them, imbuing a sense of vitality and joy.

The benefits attributed to sunstones are diverse and intriguing, as they are thought to foster self-esteem and inspire creativity, serving as a source of motivation for individuals seeking to enhance their overall well-being.

Additionally, sunstones are often recommended for their supposed ability to boost the metabolism and alleviate the symptoms of seasonal affective disorder (SAD), offering a glimmer of hope during the dreary winter months.

Symbolically, sunstones represent life and joy, resonating particularly with the energy of the solar plexus and sacral chakras. This connection is believed to promote qualities such as leadership, optimism, and emotional balance, whilst also attracting abundance, good fortune, and financial success.

Crystal enthusiasts frequently incorporate sunstones into their meditation practices and goal-setting endeavours, as the gem is reputed to amplify motivation, reduce stress levels, and foster a profound sense of empowerment.

The radiant warmth of sunstones, in both their hues and energy, enhances not just individual practices but also the spaces around them. Beyond their metaphysical associations, sunstones’ striking physical attributes make them a favoured choice for jewellery design, particularly during the Renaissance.

Resulting in an array of stunning pieces, from bold statement pendants and elegant bracelets to more understated earrings and rings, the unique interplay of texture and colour piques the interest of wire-wrapping artists and other crafters who aim to display the stone’s intrinsic beauty.

Historically, sunstones have held significant importance in art and jewellery, cherished for their extraordinary qualities and dynamic appearance. Today, they remain highly sought after, endearing them to many and serving as a timeless symbol of inspiration.

The post Sizzling Sunstone : Digging Deep into Sunstone Mining appeared first on Mining Outlook.

AN INTIMATE COLLECTION OF MINING ART

The northeastern region of the UK holds a distinct coal mining heritage, driven by the Industrial Revolution and legacy of hundreds of mining communities across Newcastle, Sunderland, and Yorkshire.   

The Great Northern Coalfield, in particular, was the main powerhouse of UK mining between the 18th and 20th centuries, driving the industrial revolution forwards from the regions of Durham and Northumberland.   

Evoking the perseverance, determination, and strength of a bygone era, the Mining Art Gallery was founded as a means of preserving the cultural heritage of the Great Northern Coalfield.   

Located in Bishop Auckland and a key pillar of The Auckland Project, the gallery is situated in the mining epicentre of County Durham.  

It houses the Gemini Collection – curated over a 20-year period by art collectors Dr Robert McManners and Gillian Wales, whose passion for notable artists like Norman Cornish and Tom McGuinness can be felt in every thoughtful piece.   

THE BACKBONE OF BRITAIN   

Founded in 2017, the Mining Art Gallery was established to highlight the resilience and courage of those who lived and worked in the nation’s mines and formed the backbone of industrialised Britain.   

14 years since its inception, the Mining Art Gallery is an integral pillar of The Auckland Project and focuses on the regeneration of Bishop Auckland following the closure of the Durham Coalfield in the early 1990s. Prior to this, mining had made the town an industrial hub. 

Situated in a converted 19th-century bank and comprising four exhibition spaces with over 400 pieces, the Mining Art Gallery brings this history to life through the Gemini Collection, which provides art novices and connoisseurs alike with an awe-inspiring perspective on how human creativity and spirit can shine, even in the darkest places.   

Taking visitors on a journey of County Durham’s pivotal place in mining history, original artefacts and artworks offer a window into the lives and souls of coal miners and the communities that blossomed around them – offering a sharp juxtaposition between the harshness of underground life and joy that mining families shared.  

OUT OF THE DARKNESS 

Renowned in the art world for his expressionist paintings that highlight the realities of Britain’s underground mining industry, the intricate work of Tom McGuinness underpins the gallery’s narrative and founding vision.  

Born in Witton Park near Bishop Auckland in 1926, the Mining Art Gallery celebrates McGuinness’ centenary with its ‘Out of the Darkness’ exhibition – featuring his oil paintings, sketches, etchings, lithographs, and self-portraits that are seldom seen in other collections – running between February and July this year.   

With historical ties to the Mining Art Gallery, McGuinness’ Big Meeting was the Gemini Collection’s inaugural piece and is a focal point of the exhibition.   

Painted in 1968, this bustling landscape piece showcases the Durham Miners’ Gala and the thousands of people who paraded the city’s streets.   

Indeed, ‘Out of the Darkness’ pays homage to McGuiness’ talent and ability to unearth the ashes of British industrial history, perfectly encapsulating the emotional hardships of mining life.   

Speaking on the exhibition, McManners highlights McGuiness’s unrivalled pictorial record of the coal mining industry.  

McGuiness drew on his own experience to create his art, having worked in the industry for 39 years after he was conscripted to work in coal mines during World War II, where he regularly painted what was then seen as an indestructible industry.  

TOM McGUINNESS EXHIBITION  

The new Tom McGuinness exhibition opened on 18th February 2026.  

In his centenary year, the Mining Art Gallery celebrates this quiet man who communicated through his art – he did not seek simply to record details of the mining industry but expressed what it really felt like to be a miner. 

McGuinness found a rich seam of artistic inspiration in the coal mines of County Durham, painting the industry and its people from his own experiences. 

His visceral depictions of life underground serve as a powerful, emotive reminder of the lives lived by many in the mining communities of the North East England. 

The post Mining Art Gallery : An Intimate Collection of Mining Art appeared first on Mining Outlook.

Q&A WITH DR MAX WERNER, CEO AND FOUNDER, HADES MINING

Firstly, how is Hades Mining disrupting the market with true innovation?

Dr Max Werner, CEO and Founder (MW): Our core innovation is a proprietary high-power laser drilling system — but we made a deliberate decision very early on not to be a drilling vendor. We’re not selling metres; we’re producing tonnes of critical minerals and, in time, baseload geothermal heat. 

The disruption is structural, not just technical. Mining, oil and gas, and geothermal are dominated by large conglomerates running on technology that is essentially 40 years old.  

They are not technology companies – they assess technology risk incorrectly and, as a result, are too slow to adopt modern systems.  

We close that gap by owning the full project lifecycle – licence, drilling, in-situ recovery, and offtake – which lets us introduce a step-change technology far earlier in the project cycle than incumbents ever could. 

The market context makes this urgent: Europe produces less than three percent of the critical minerals it consumes and imports more than 90 percent of them.  

That is not a sustainable position for a continent that wants to lead the energy transition, secure its defence base, and remain industrially sovereign. 

Since our founding in summer 2025, we’ve raised over €20 million from leading venture capitalist HV Capital, and Headline, Project A, and Visionaries Tomorrow are doubling down.  

We are using that capital to develop our laser drilling technology towards field deployment, kickstarting our first projects, and expanding the Munich team towards 30+ by year-end.

Hades Mining recently unveiled its proprietary ‘superheated’ drilling technology for deep geothermal and critical mineral extraction. Can you tell us more?

MW: The system is a non-contact, fibre laser-based drilling platform. Instead of grinding rock with a mechanical bit, we deliver a high-power, continuous-wave laser to the bit face, superheat the rock, then use a high-pressure gas purging system to fracture and clear the material in milliseconds. 

In our lab, this has produced sustained penetration rates of 30 to 50 meters per hour in granite – orders of magnitude faster than conventional methods in hard rock – at the current 21-centimetre borehole diameter. 

The technological breakthrough that makes this scalable today was not available a decade ago; 200-kilowatt industrial fibre lasers are now commercially available and economically viable.  

The downhole assembly itself is radically simplified; only two specialised lenses sit at the drill tip. Everything else is robust, replaceable, industrial-grade hardware – that simplicity is what makes the system suitable for kilometres (km) of depth. 

It’s also a sensing system, not just a drilling system. Our laser system doubles as a spectroscopic probe – by analysing the vapour it produces, we get continuous compositional data on the rock we’re drilling through.  

That gives us more information than a conventional bit ever could, and it’s the kind of data feedback loop that mining has historically lacked. 

How is the technology designed to fundamentally change drilling economics?

MW: Drilling is the single-largest cost driver in the projects we care about: roughly 30 to 60 percent of capital expenditure is in-situ recovery mining, and 50 to 70 percent is in deep geothermal.  

If you fundamentally change the cost and speed of drilling, you change the overall economic equation of the entire project. 

Our system attacks multiple cost drivers simultaneously: speed (penetration rates that don’t degrade with depth); wear (no mechanical contact, so no bit replacement cycles and less downtime); depth (purpose-built for 4+ km, where the cost-per-metre advantage compounds most steeply); and information density (real-time spectroscopy reduces the need for separate exploration campaigns). 

Where conventional bits lose efficiency under pressure and temperature, our penetration rate stays consistent from surface to target depth. That’s the difference between a project that stops being economic at 3 km and one that remains viable at 5 km. 

We are not chasing incremental improvement – we are targeting an order-of-magnitude shift to make previously stranded deposits and reservoirs bankable. 

What direct impact does improved drilling performance have on the economic viability of critical mineral and energy projects?

MW: The honest answer is that drilling cost is what currently determines whether a deposit gets developed at all.  

There are many medium-to-large hard-rock deposits across Europe covering a breadth of critical raw materials – most of them sit dormant not because the resource isn’t there, but because conventional drilling, and the social and environmental considerations around it, make them uneconomic. We aim to change this.  

A faster, cheaper, more efficient, and deeper drill widens the bankable resource base in three concrete ways. It pulls previously sub-economic grades into the money, makes deeper deposits accessible without proportionally larger capital commitments, and shortens the timeline from concept to first production, which is decisive for investors.  

For geothermal, the math is even sharper. Most projects today stop at 3 to 4 km because the cost curve goes negative beyond that point. If drilling cost at depth drops by even a multiple, the addressable footprint of geothermal – and therefore the heat available to industry and municipalities – expands dramatically. 

It also derisks projects in dimensions that investors and regulators care about. Non-contact drilling means minimal vibration, which lowers fault line and microseismicity risk and could ultimately allow drilling closer to populated areas – meaningful for both geothermal heat networks and community acceptance of mining. 

Why does Europe’s mining sector – especially young, emerging project developers – need a new kickstart?

MW: For decades, Europe has had neither the capital nor the political will to develop its subsurface resources.  

The result is an industry where the people, the supply chains, and the institutional knowledge have eroded – at exactly the moment a multi-polar world order is rewriting the rules around access to raw materials. 

The geopolitical context is the most important factor of our generation. The post-war system increasingly does not run on dollar-denominated trade alone; it runs on access to raw minerals and energy.  

Europe enters that conversation with less than three percent domestic critical mineral production. That makes us extraordinarily vulnerable in negotiations on every other topic.  

Emerging European project developers are the ones with the best deposits – often inherited from historical exploration – but they are being held back by a stack of legacy bottlenecks: drilling costs that price them out, environmental, social, and governance (ESG) and permitting frameworks designed for a 1980s industry, capital markets that still see European mining as too slow and too risky, and an offtake landscape dominated by non-European processors. 

How will opening up the technology to European project developers help accelerate projects from early-stage concepts into bankable and executable developments?

MW: This is the heart of why we’re now building out our dedicated Partner Programme — to develop projects together with European project developers, not in isolation from them. 

The logic is straightforward: our technology stack only realises its full impact when combined with deposits, licences, and local geological knowledge that already exist across Europe.  

A project developer with a strong asset but a stalled drilling economics case is exactly the partner we want to work with. We bring the system, team, and integrated process know-how; they bring the asset, local relationships, and often the regulatory groundwork. 

Concretely, the Partner Programme is built around joint project development – co-investing time, capital, and technology into specific deposits where our drilling and in-situ recovery capability is the unlock.  

We don’t compete with project developers for the same assets; we make assets that no one else can access or finance into bankable projects. 

We are explicitly not chasing the famous, contested deposits where major mining houses are already deploying billions. We’re focused on the projects they don’t want – deposits that become economic only when our technology package is in the stack. 

That is precisely the segment where European emerging developers are concentrated. 

For the partner, the value proposition is clear: shorter time to first production, drilling costs that move projects from sub-economic to bankable, and access to a downstream offtake network we are building across the European critical mineral value chain – chemistry, refining, and end-use industrial offtakers.

Finally, how is Hades Mining creating a new model for how critical mineral and energy projects are unlocked in Europe?

MW: The model is best summarised as the world’s first technology-enabled, vertically integrated extraction company – combined with a partner-led project pipeline. That combination doesn’t currently exist in our industry, and we believe it’s the structure Europe and the world needs. 

Vertical integration is what allows us to introduce a step-change technology earlier in the project cycle than any incumbent contractor or major could. We control the licence, drilling, in-situ recovery process, and offtake interface – which means we can absorb and price technology risk that a fee-per-metre contractor never could. 

The Partner Programme then layers a second model on top: rather than trying to do every European project alone, we develop projects jointly with the developers, chemistry partners, and offtakers already in the value chain.  

Our first rare earth project is structured exactly this way – a major chemistry partner on the leaching side, a refining partner producing pure neodymium oxide, and a major industrial company for downstream offtake; the entire chain is European. 

Ultimately, the new model has three commitments. First, we own the outcome – our end product is tonnes of critical minerals and megawatts of geothermal heat, not invoices for drilling services.  

Second, we build with European partners across the value chain because resilience requires more than a single company.  

Finally, we reset the bar for what bankable looks like. By changing drilling economics at the root, projects that were stranded for 40 years become investable in this decade.  

Sovereignty, as we like to say, begins subsurface.

The post Hades Mining : Sovereignty Begins Subsurface appeared first on Mining Outlook.

Issue 15

Copper Mining

Mopani Copper Mines : Unearthing Zambian Prosperity

Mopani Copper Mines is a proudly Zambian mining company engaged in the full spectrum of copper production, from ore extraction to the beneficiation of finished copper cathodes. We dig deep with Charles Sakanya, CEO.

By

Josh Whiteside

Ed Budds

Read More

Engineering

Cooper Fluid Systems : Fluid Systems Specialist

The leadership team at Cooper Fluid Systems, an industry leader in the Australian hydraulic and lubrication market, update us on the company’s significant investment in a new Mackay facility, hydraulic test bench, and more.

By

Eddie Clinton

Jack Salter

Read More

Contractor

K Neumayer Civil Contractors : Integral to the Industrial Landscape

Having grown in the last 30 years to become Namibia’s leading multidisciplinary contractor, K Neumayer Civil Contractors upholds a deep responsibility to developing the nation’s industrial landscape. John Mitchell, Managing Director, tells us how.

By

Josh Whiteside

Lucy Pilgrim

Read More

Salt Mining

Atlas Salt Inc. : North America’s Premier Undeveloped High-Grade Salt Project

With a focus on innovation and efficiency, Atlas Salt Inc. is poised to make significant contributions to the North American salt market. We speak to Nolan Peterson, CEO and Director, to learn more about the company’s endeavors.

By

Scarlett Burke

Lauren Kania

May 12, 2026

Read More

Mining Services

AURA Mining : Real People, Real Results, Real Advice

As a mining operations partner with a bespoke operating model, AURA Mining delivers specialist solutions for real partnerships. Jason Economidis, Managing Director, tells us more about the company’s niche services.

By

Thomas Arnold

Lauren Kania

Apr 9, 2026

Read More

Mining Services

Ausenco : Masters of Minerals and Metals

Global consulting, engineering, and project delivery leader Ausenco transforms complex challenges into sustainable solutions. We showcase the company’s work on minerals and metals projects across the continent with Rob Medley, President of Minerals and Metals – North America.

By

Scarlett Burke

Jack Salter

May 12, 2026

Read More

Software

Datamine : The Mining Value Chain Partner

Datamine leverages over four decades of experience to deliver specialised software solutions integral to the mining value chain. The company’s leadership team tells us more about its cutting-edge products and strategies for keeping abreast of the industry.

By

Thomas Arnold

Lucy Pilgrim

Apr 9, 2026

Read More

Mining Services

GEOPS : Drilling for the Future

As a leading provider of advanced drilling solutions for mining, exploration, and geological purposes, GEOPS boasts over two decades of experience in this crucial industry. We revisit the company with Hristo Kulov, Deputy Executive Director.

By

Eddie Clinton

Lauren Kania

Mar 24, 2026

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Gold Mining

GoldPlat : Unbuckling the West African Gold Belt

GoldPlat has positioned itself as a leading gold recovery services company with two world-class operations in South Africa and Ghana. We take a look at how the company is engaged in the production of gold and other precious metals by processing by-products.

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Josh Whiteside

Ed Budds

Apr 30, 2026

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Gold Mining

Heath Goldfields Ltd : The Importance of Indigenous Mining

Heath Goldfields Ltd’s revival of the 100-year-old Bogoso-Prestea Mine is integral to national development. Managing Director, Patrick Appiah Mensah, talks us through the company’s commitment to building an indigenous mining platform.

By

Josh Whiteside

Lucy Pilgrim

Apr 30, 2026

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Contractor

JCI Mining : At the Coal Face of Change

JCI Mining’s recent digital transformation and long-standing people-focused culture have enabled it to stand out as a mining company with a difference. Matthew Abraham, Managing Director, outlines the company’s drive to create efficiency and long-term value.

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Josh Whiteside

Lily Sawyer

Apr 30, 2026

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Copper Mining

Konkola Copper Mines : The Pride of Zambia

Konkola Copper Mines is a leading integrated copper producer in Africa. In such an enviable position, we explore its four state-of-the-art mining operations and commitment to national development across Zambia.

By

Thomas Arnold

Lucy Pilgrim

Feb 25, 2026

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Logistics

Nucleus Mining Logistics : Cargo at the Core

Nucleus Mining Logistics is on a mission to transform African mine supply chains by providing precise, end-to-end cargo solutions. Claire Clark, CCO, reflects on the group’s ability to provide stability and its continued focus on controlled growth.

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Josh Whiteside

Lily Sawyer

Apr 30, 2026

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Commodities

Queensland Magnesia : Transformative Resources from Ore to Door

Brendon Pambid, one of two Managing Directors at Queensland Magnesia alongside Dr. Christoph Beyer, offers insight into the products, processes, and, most importantly, people, that have led to 35 years of success.

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Thomas Arnold

Lily Sawyer

Apr 9, 2026

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Commodities

Robinson Mine : Delivering Deep-Rooted Dexterity

For more than a century, Robinson Mine, the jewel in the crown of KGHM Polska Miedź’s international mining portfolio, has been setting new standards in copper extraction. We delve deep into the details with Vice President and General Manager, Neil Jensen.

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Scarlett Burke

Ed Budds

Mar 10, 2026

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Drilling

Roc-Drill : Groundbreaking Resilience in a Rocky Climate

In the face of evolving market dynamics, Roc-Drill has successfully navigated the challenges of the mining sector with its unmatched ability to adapt. Managing Director, Charlie Massarella, delves into the company’s strategic integration and innovative operations.

By

Thomas Arnold

Rachel Carr

Apr 9, 2026

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Mining Services

Rocksure International Limited : Responsibly Empowering Mining Excellence

With over 16 years of industry expertise, Rocksure International Limited is a distinguished Ghanaian-owned mining services company. We don our hardhats and explore its commitment to excellence and moving the needle in African mining.

By

Josh Whiteside

Lauren Kania

Feb 25, 2026

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Contractor

SAMA BTP & Mining : Forging Prosperity and Progress

SAMA BTP & Mining leads the charge of the Ivorian mining industry, combining local insights with innovative equipment to deliver customised, sustainable solutions that foster economic growth and community development.

By

Thomas Arnold

Rachel Carr

Feb 25, 2026

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Exploration

Thor Explorations : Golden Progress

Segun Lawson, CEO, updates us on the progress of Thor Explorations’ gold projects and corporate social responsibility activities across West Africa over the past year.

By

Thomas Arnold

Jack Salter

Apr 30, 2026

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Gold Mining

AngloGold Ashanti : Empowering People, Advancing Societies

As Africa’s mining landscape continues to evolve, AngloGold Ashanti maintains a strong operational footprint across the continent, bolstered by strategic partnerships, social investment, and a robust double materiality framework underpinning its long-term strategy.

By

Josh Whiteside

Lily Sawyer

Feb 25, 2026

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Expert Eye

Tailings 2025 : Lessons Learned and the Road to Safer Systems

Alastair Bovim, CEO and co-Founder of South Africa-based environmental intelligence company, Insight Terra, reflects on how Africa has a critical opportunity to lead responsible extraction as demand for critical minerals accelerates.

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Alastair Bovim

Apr 27, 2026

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Mining Services

Hades Mining : Sovereignty Begins Subsurface

Founded in 2025, Hades Mining is building the world’s first vertically integrated, technology-driven extraction company. Dr Max Werner, CEO and Founder, details its proprietary drilling technology, which is designed to fundamentally change drilling economics.

By

Jack Salter

May 19, 2026

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Technology

Orica Digital Solutions : Redefining Geohazard Intelligence

We catch up with the executive team at Orica Digital Solutions’ trusted geohazard monitoring product division, GroundProbe whose newly launched next-generation series radar brings together 25 years of experience, deep customer knowledge, and a clear understanding of what its mining customers need and value most.

By

Lily Sawyer

Apr 10, 2026

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Commodities

Sizzling Sunstone : Digging Deep into Sunstone Mining

We unveil the optical phenomenon of the luminous sunstone, which merges ancient roots with a contemporary charm. This precious gem possesses a cultural and spiritual significance as its radiance inspires and uplifts all who bask in its brilliance.

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Rachel Carr

May 20, 2026

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Industry Insights

Mining Art Gallery : An Intimate Collection of Mining Art

Found in County Durham, UK, the Mining Art Gallery paints the often-cerebral essence of the country’s coal mining industry in a new light. We delve deeper into the centre’s thought-provoking purpose and its works from artist Tom McGuiness.

By

Lucy Pilgrim

May 19, 2026

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The post Mining Outlook Issue 15 appeared first on Mining Outlook.

Caterpillar positions sustainability around mining and industrial customer needs

Caterpillar says growing global demand for infrastructure, energy and critical minerals is increasing pressure on mining and industrial operators to improve efficiency, reduce emissions and extend asset life.

In its 2025 Sustainability Report, the company outlined progress across remanufacturing, lower-emissions technologies, operational efficiency and workforce safety, while reaffirming its long-term sustainability and growth strategy.

“The world’s demand for infrastructure, energy and critical minerals is accelerating, and our customers are at the center of meeting it,” said  Joseph E. Creed, Chairman and CEO of Caterpillar.

“That is a tremendous opportunity for Caterpillar, but it is also a tremendous responsibility. The work our customers do must be done safely, efficiently and sustainably. Our job is to make sure they can.”

“At Caterpillar, our mission is solving our customers’ toughest challenges. Our purpose is building a better, more sustainable world. Those are not separate ideas—they reinforce each other.”

Circular economy strategy expands through Cat Reman and rebuild programmes

The report places significant emphasis on Caterpillar’s circular economy strategy, particularly through Cat Reman and machine rebuild programmes designed to extend equipment life and reduce material use.

Caterpillar said Cat Reman now includes more than 8,000 offerings across multiple industries, with engineers increasingly integrating remanufacturing considerations into product development and the company reported receiving 150 million pounds of end-of-life material through Cat Reman operations during 2025.

A featured example highlighted the rebuild of Cat 336 excavators using remanufactured engines and hydraulic systems alongside rebuilt or replacement components to restore machines to peak operating performance.

A Cat Certified Rebuild can reduce customer Scope 3 greenhouse gas emissions by a minimum of 70% compared with purchasing an equivalent new machine.

Electrification and alternative fuels support mining decarbonisation

Caterpillar continues investing in a broad portfolio of lower-emissions technologies, including diesel-electric, battery-electric, hybrid and alternative fuel systems.

The company said sustainability progress must remain practical and adaptable to customer operating conditions across industries and regions.

“We know every customer is different, so our starting point is always a discussion to understand what success looks like to them. Their goals may be to use less fuel, extend machine life, lower maintenance and operating costs or reduce emissions, among others,” said Caterpillar’s Chief Sustainability and Strategy Officer Ebban Clause.

“That solution might be leveraging a hybrid diesel-electric machine or battery electric machine, rebuilding their existing fleet or using alternative fuels such as biodiesel, renewable diesel (HVO) or hydrogen blends in their genset, to name a few examples.”

The report also highlighted increasing use of connected technologies such as the VisionLink platform to improve fleet visibility, fuel management and operational decision-making.

Safety technologies expand across mining and heavy equipment operations

Safety remained a major focus throughout the report, particularly for mining and industrial applications involving high-energy operating environments.

Caterpillar said nearly 11,000 Driver Safety System-equipped machines and light vehicles were connected globally during 2025.

The company also expanded direct safety control technologies, including motion inhibit systems, automatic emergency braking and Cat 2D E-fence technology designed to prevent machines from moving beyond predefined operating boundaries.

Other investments included AI-enabled camera systems and pedestrian detection technologies across several facilities and Caterpillar improved recordable injury frequency by 23% compared with its 2018 baseline and has achieved a 93% improvement in recordable injury frequency since 2003.

Operational emissions and energy efficiency progress

Caterpillar reported a 34% reduction in Scope 1 and Scope 2 greenhouse gas emissions from its operations compared with its 2018 baseline, exceeding its 2030 target pathway of a 30% reduction.

The company also reported a 25% reduction in energy intensity since 2021.

Key Projects

• Hybrid microgrid deployment at Caterpillar’s Tucson Proving Ground in Arizona
• Solar installations at the Queensland distribution centre in Australia
• Water reduction projects at the Grenoble, France facility
• Solvent reclamation programmes in Decatur, Illinois

Scope 3 emissions remain largest sustainability challenge

Caterpillar stated that Scope 3 Category 11 emissions from the use of sold products remain the company’s largest emissions category, representing more than 95% of total Scope 1, 2 and 3 emissions.

The company said emissions increased during 2025 due to product mix, end-market demand and continued growth in global energy demand.

However, Caterpillar repeated its commitment that 100% of new products introduced through 2030 will be more sustainable than previous generations through improved efficiency, lower emissions, reduced waste and enhanced rebuild and remanufacturing capability.

Workforce development and mining skills investment

The report also outlined workforce and skills initiatives linked to the future of industrial and mining operations.

Caterpillar announced a US$100 million commitment over five years to support workforce development and manufacturing skills training and also reported employing more than 118,000 people globally during 2025, including more than 64,500 manufacturing employees.

More than 1.2 million training courses were completed by employees during the year, while over 1,900 interns joined the business globally.

“Sustainability is core to how we execute the strategy, serve our customers and build a company that will be essential for the next 100 years, just as it has been for the first,” added  Joseph E. Creed.

The post Caterpillar Highlights Remanufacturing, Electrification and Mine-Site Efficiency in 2025 Sustainability Report appeared first on Mining Outlook.

Appian acquires majority stake in Omico Copper project

Appian Capital Advisory has acquired a 95% controlling interest in the Omitiomire copper project in Namibia, strengthening its position in copper development assets across stable mining jurisdictions.

The project is a long-life, mid-scale copper asset containing approximately 520,000 tonnes of copper in mineable inventory. Appian is targeting eventual production of around 30,000 tonnes of copper per year over an estimated 15-year mine life.

Bringing the project into production is expected to require more than US$400 million in development capital.

Management commentary from Michael W. Scherb

“Omico Copper is a technically robust development opportunity that aligns with Appian’s investment philosophy,” said Michael W. Scherb, Founder and CEO of Appian Capital Advisory.

“The project complements our portfolio, offering near-term production alongside long-term growth potential. Our due diligence has demonstrated a clear path to strong cash generation and value creation through disciplined development and resource expansion. Namibia remains a trusted jurisdiction for Appian, and we look forward to delivering this project responsibly and efficiently for the benefit of all stakeholders.”

Project scale backed by feasibility study

A Bankable Feasibility Study confirms a measured and indicated resource of 123Mt at 0.51% Cu, supporting a mineable inventory of 102Mt at 0.51% Cu.

The defined resource underpins Appian’s development case for a long-life copper operation with a clearly structured pathway to production.

In announcing the deal, the company is highlighting strong project economics, attractive margins and scope for optimisation across mine design and processing.

Development pathway and production potential

Omico Copper is positioned as a near-term production opportunity within Appian’s portfolio of energy transition metals.

Planned output is approximately 30,000 tonnes of copper annually, supported by a projected ~15-year mine life and Appian also points to upside potential through processing improvements, mine scheduling optimisation and exploration growth, particularly near the existing pit area.

Processing optimisation and technical enhancements

Appian has identified multiple value creation opportunities through its technical due diligence.

A key potential optimisation is the transition from a leach-based flowsheet to a flotation processing route.

The company has also rebuilt the resource model and refined mine scheduling to reduce upfront capital requirements while maintaining execution discipline.

Further exploration targets close to the existing pit provide additional upside potential for resource expansion and extended mine life.

Strategic location in Namibia’s mining sector

The project is located approximately 140 kilometres northeast of Windhoek in Namibia, a jurisdiction described as stable and supportive of mining investment.

Omico Copper holds a mining licence valid through 2036, with renewal options available.

The project is also underpinned by ESG frameworks, including ESIA and ESMP compliance, and includes a 5% stake held by the Craton Foundation Trust, a Namibian community trust supporting social and educational initiatives.

Operational integration and regional expertise

Appian will manage the asset through its Base Metals team, which oversees operations including Rosh Pinah Zinc in Namibia and Atlantic Nickel in Brazil and the company expects operational synergies from its established presence in Namibia, particularly in stakeholder engagement and local operating execution.

Appian acquired Rosh Pinah Zinc back in 2023, strengthening its regional operating footprint and in-country expertise.

Energy transition strategy and portfolio expansion

The acquisition reinforces Appian’s broader strategy of building a diversified portfolio of high-quality energy transition metals assets in stable jurisdictions.

Copper remains a central component of the firm’s long-term investment thesis as global electrification accelerates.

The post Appian Expands African Copper Footprint with US$400m+ Namibian Development appeared first on Mining Outlook.