Daily Mining Industry Report: March 08, 2025

Daily Mining Industry Report: March 9, 2025

Canadian Developments

• Alberta Lifts Coal Exploration Moratorium Amid Legal Challenges
  The Alberta government has lifted its moratorium on coal exploration and development in the Eastern Slopes of the Rocky Mountains, reinstating the 1976 Coal Policy. This decision comes in the face of lawsuits from companies such as Cabin Ridge and Hancock Prospecting, which claimed significant financial losses due to the previous bans. Valory Resources, an Australian-led Canadian company, is poised to benefit from this policy change with its Blackstone project, focusing on underground steelmaking coal. ​theaustralian.com.au

• Teck Resources Plans to Redirect Zinc Sales to Asia
  In response to the U.S. administration's imposition of 25% tariffs on Canadian imports, Teck Resources Ltd. is developing strategies to sell its zinc products to Asian markets instead of the United States. The company is reserving storage capacity and securing port space in Canada to facilitate these exports. ​

• Barrick Gold Seeks Resolution in Mali Mining Dispute
  Barrick Gold is actively working to resolve a dispute with the Malian government concerning the country's new mining code, which grants the state a larger share in Barrick's Loulo-Gounkoto gold mining complex. The company had to temporarily suspend operations after the government seized three metric tons of gold stock and blocked exports since November. ​reuters.com

Global Developments

• Major Miners Reduce Exploration Investment
  Over the past two years, leading mining companies have reduced their exploration expenditures due to factors such as inflation, higher interest rates, and lower commodity prices. In 2024, exploration spending declined by 6% to $12.5 billion, with gold receiving over 40% of the total investment. ​ft.com

• Ukraine's Mineral Reserves Attract International Attention
  Ukraine's Novopoltavske region is believed to hold vast reserves of phosphate rock and rare earth elements. American policymakers have been in discussions over a deal involving these minerals, which were part of a proposed peace agreement brokered by former President Donald Trump. However, practical extraction is hindered by high costs, challenging conditions, and the site's current occupation by Russian troops. ​thetimes.co.uk

• Greenland's Mining Potential Faces Challenges
  Despite possessing some of the world's richest deposits of rare-earth minerals, Greenland's potential mining boom is hindered by harsh weather, limited infrastructure, bureaucratic hurdles, and political opposition. These challenges deter investors and complicate mining operations in the region. ​wsj.com

• Bids Submitted for Australia's Ravenswood Gold Mine
  The Ravenswood gold mine in Australia has attracted bids from companies including Regis Resources and Indonesia's United Tractors. The mine produces approximately 200,000 ounces of gold annually and is considered a valuable asset in the current high gold price environment. ​theaustralian.com.au

Policy Changes

• Potential U.S. Tariffs on Canadian Uranium
  President Donald Trump has proposed a 10% tariff on uranium and other Canadian goods, which could significantly impact the U.S. nuclear energy industry. Canada is the primary supplier of uranium to the U.S., and the proposed tariffs could lead to increased uranium prices, potentially hindering the country's nuclear energy initiatives. ​theverge.com

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