Daily Mining Industry Report: March 12, 2025

Daily Mining Industry Report: March 12, 2025

Canadian Developments

• Ontario Suspends Electricity Surcharge Amid U.S. Tariff Threats
  Ontario Premier Doug Ford has suspended a 25% surcharge on electricity exports to the United States following President Donald Trump's announcement of additional 25% duties on Canadian aluminum and steel. This move aims to ease trade tensions and prevent further tariff escalations. ​New York Post+1The Australian+1

• Agnico Eagle Mines Achieves Record Performance
  Agnico Eagle Mines reported record annual gold production, free cash flow, and operating margins, leading to its recognition as the world's most valuable silver and gold mining company. The company's stock surged 3.7% on Tuesday, reaching a new high and breaking out from a short consolidation at a 101.45 buy point. Agnico's stock holds a robust Composite Rating of 98 out of 99 and an EPS Rating of 97 out of 99, with earnings growth averaging 116% over the past three quarters. ​investors.com

Global Developments

• Argentina Plans Major Energy and Mining Projects
  Argentina is planning at least 11 significant projects in its energy and mining sectors as a result of economic reforms implemented by President Javier Milei's administration. These reforms aim to boost production and increase revenue from exporting key commodities. If these projects proceed, Argentina could see its annual mineral exports, including silver, gold, and lithium, rise to $13 billion, a substantial increase from the current $4 billion. ​Reuters

• Rio Tinto Secures Funding for Arcadium Lithium Acquisition
  Rio Tinto is raising up to $9 billion in U.S. investment-grade bonds to finance its recent $6.7 billion acquisition of Arcadium Lithium. This strategic move diversifies Rio Tinto's portfolio into critical minerals and battery metals, including lithium. The funding will be obtained through an eight-part debt offering, including a long-term note with a 40-year maturity yielding 1.3% over Treasuries. ​Reuters

• TechMet to Develop Ukrainian Lithium Project
  US-backed mining company TechMet aims to develop a significant lithium project at Ukraine's Dobra site. This initiative could be one of the first projects under a near-finalized mineral agreement between the US and Ukraine, aiming to reduce China's dominance in critical minerals. The US government, a shareholder in TechMet, supports this venture amid efforts to reduce China's dominance in critical minerals. ​ft.com+1en.wikipedia.org+1

Policy Changes

• 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. ​The Australian

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