Daily Mining Industry Report: February 20, 2025

Daily Mining Industry Report: February 20 2025

Canadian Mining News

Government of Canada Announces Multi-Million-Dollar Investments in Mining Sector

The Government of Canada has unveiled plans to inject substantial funds into the mining industry, aiming to bolster economic growth and technological innovation. These investments are expected to enhance resource extraction efficiency and promote sustainable practices.

 

Global Mining Developments

Japan Invests $10 Billion in Australian Mining Amidst Shifting Trade Dynamics

In response to China's economic slowdown, Japan is revitalizing Australia's mining sector with significant investments. Mitsui Corporation has acquired an $8.4 billion stake in the Rhodes Ridge iron ore project, ensuring long-term resource supply. Other Japanese firms, including Nippon Steel and JFE Steel, have also invested heavily in Australian coal and natural gas assets.

 

Technological Advancements

Arca Raises $12 Million to Develop Carbon-Sequestering Technology Using Mining By-Products

Canadian start-up Arca has secured over $12 million in funding to develop technology that utilizes mining by-products to absorb significant amounts of atmospheric carbon dioxide. By enhancing the reactivity of mining tailings through microwave energy, Arca aims to accelerate CO2 absorption, offering a novel approach to climate change mitigation.

 

Market Trends

Newmont Surpasses Fourth-Quarter Profit Estimates Due to Increased Gold Production and Prices

Newmont, the world's largest gold miner, reported fourth-quarter profits exceeding analysts' expectations, driven by a 9.2% increase in gold production and a 31.9% rise in gold prices, reaching $2,643 per ounce. The company has also been divesting non-core assets to reduce debt, including the sale of Canadian mines.

 

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