Daily Mining Industry Report: February 28, 2025

Daily Mining Industry Report: February 28, 2025

Canadian Developments

• Equinox Gold and Calibre Mining Announce Merger
  Equinox Gold is merging with Calibre Mining to potentially become Canada's second-largest gold producer. The combined entity will oversee major operations, including the Greenstone open-pit mine in Ontario, which achieved commercial production in November 2024, and the Valentine project in Newfoundland and Labrador, aiming for its first gold pour in mid-2025. magazine.cim.org

• Kinross Invests in Relevant Gold Corp.
  Kinross Gold Corporation has entered into an agreement to acquire 15,410,000 common shares of Relevant Gold Corp. at a price of $0.30 per share, totaling $4,623,000. This strategic investment increases Kinross's ownership to approximately 19.9% of Relevant Gold's issued and outstanding shares. kinross.com

• Impala Platinum Considers Early Closure of Lac des Iles Mine
  Impala Platinum is contemplating an early shutdown of its Lac des Iles palladium mine in Ontario due to a significant drop in palladium prices, which have fallen from a peak of about $3,440 an ounce in March 2022 to around $921 an ounce currently. mining.com

Global Developments

• US-Ukraine Minerals Deal Faces Uncertainty
  A proposed minerals agreement between the United States and Ukraine remains unsigned following a contentious meeting between Presidents Trump and Zelensky. The deal aimed to allocate half of Ukraine's future mining profits to a reconstruction fund, but disagreements have stalled progress. reuters.com thetimes.co.uk

• Montana Legislators Introduce Bill to Ban Russian Mineral Imports
  U.S. Senator Steve Daines, along with other Montana legislators, introduced a bill to prohibit the import of critical minerals from Russia, including platinum, palladium, and copper. The legislation aims to protect American mining jobs and reduce dependence on foreign minerals. daines.senate.gov

• Copper Industry Requires $2.1 Trillion Investment
  The copper industry needs to invest $2.1 trillion over the next 25 years to meet rising demand driven by global decarbonization efforts and technological advancements. This substantial investment is necessary to address the widening gap between supply and demand. mining.com

Technological Advancements

• PDAC 2025 Focuses on Critical Minerals
  The Prospectors & Developers Association of Canada (PDAC) 2025 conference is placing a significant emphasis on critical minerals, reflecting increased tensions around U.S. critical mineral supply. Discussions are centered on policy developments and strategies to secure these essential resources. thoughtleadership.rbc.com

Market Trends

• Alaska's Mining Industry Optimistic About Resource Development
  Mining leaders in Alaska express optimism regarding the Trump administration's agenda to accelerate resource development in the state. The industry anticipates policy changes that could streamline permitting processes and boost mining activities. alaskapublic.org

The information in our daily posts is intended solely for general informational purposes. We do not guarantee the accuracy, completeness, or reliability of any content provided, and we are not responsible for any errors, omissions, or outcomes resulting from using this information. Readers are advised to verify facts independently and consult appropriate professionals or official sources before making any decisions or taking action based on these reports—all responsibility lies with the reader.