Daily Mining Industry Report: March 13, 2025

Daily Mining Industry Report: March 13, 2025

Canadian Developments

• Canada Retaliates Against U.S. Tariffs
  In response to President Donald Trump's imposition of a 25% global duty on steel and aluminum, Canada has announced retaliatory tariffs on C$29.8 billion worth of American goods, including steel, aluminum, computers, sports equipment, and cast iron products. This move aims to counteract the U.S. tariffs and uphold fair trade practices. ​politico.com

• Agnico Eagle Mines Achieves Record Performance
  Toronto-based Agnico Eagle Mines has 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%, 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. ​

• 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 amid 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

Global Developments

• U.S. Supports Australian Firm in DRC Lithium Project
  The Trump administration plans to support Australian exploration company AVZ in retaining a major share of the Manono lithium project in the Democratic Republic of Congo (DRC), aiming to prevent Chinese dominance in the critical minerals sector. This involves a potential minerals agreement with the DRC, aligning with the America First Agenda and countering China's extensive interests in the region's resources. ​theaustralian.com.au

• Mining Giants Anticipate U.S. Regulatory Reforms
  Major mining companies, including Rio Tinto, BHP, Antofagasta, Freeport-McMoRan, and Barrick Gold, are optimistic that the Trump administration will expedite permitting processes and reduce regulatory hurdles to boost domestic mining. Projects like Rio Tinto's Resolution copper mine in Arizona and Antofagasta's Twin Metals mine in Minnesota could significantly benefit from these anticipated reforms. ​Financial Times

• Global Reduction in Exploration Investment
  Over the past two years, the world's largest mining groups have reduced their exploration expenditures due to inflation, higher interest rates, and lower commodity prices, resulting in a 6% decline to $12.5 billion in 2024. Despite increased spending earlier in the decade on crucial energy transition metals like copper and lithium, exploration investment has slowed. Gold remained the top exploration choice in 2024, receiving over 40% of the total spending. ​Financial Times

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