Daily Mining Industry Report: March 29, 2025

Daily Mining Industry Report: March 29, 2025

Canadian Developments

• The Metals Company Seeks U.S. Approval for Deep-Sea Mining

  Vancouver-based The Metals Company (TMC) plans to apply for U.S. permits to conduct deep-sea mining in international waters under the 1980 Deep Seabed Hard Mineral Resources Act. This move aims to bypass the International Seabed Authority (ISA), which has yet to authorize any exploitation permits. Environmental groups have criticized the initiative, citing potential harm to marine ecosystems. ​

• Canadian Gold Mining Stocks Surge Amid Trade Tariffs

  In response to recent U.S. tariffs affecting the auto industry, investors are turning to safe-haven assets, driving gold prices near record highs. Canadian gold mining companies are benefiting significantly, with Agnico-Eagle Mines up 38% year-to-date, Wheaton Precious Metals rising 36%, and Kinross Gold increasing 35%. This trend reflects a broader investor shift towards precious metals amid trade uncertainties. ​

Global Developments

• AVZ Minerals Seeks U.S. Support for Congolese Lithium Project

  Australian company AVZ Minerals is negotiating with U.S. envoy Mr. Boulos in Kinshasa to secure support for its claim over the contested Manono lithium project in the Democratic Republic of Congo. The project holds significant lithium resources, and AVZ is exploring a potential sale to KoBold Metals, backed by investors including Bill Gates and Jeff Bezos. The negotiations aim to resolve ownership disputes amid China's substantial presence in the DRC mining sector. ​The Australian

• Greenland's Rare Earth Elements Attract Global Interest

  As Greenland's ice melts due to climate change, vast reserves of rare earth elements essential for modern technologies are becoming accessible. The Greenlandic government aims to diversify its economy by tapping into these resources, despite environmental and logistical challenges. The strategic importance of these minerals has drawn attention from global powers, including the U.S. and China. ​

• Deep-Sea Mining Advances Amid Regulatory Uncertainty

  Companies are pushing forward with deep-sea mining initiatives despite the absence of comprehensive international regulations governing the extraction of critical metals from the ocean floor. Negotiators are working to establish guidelines, but the lack of a rulebook raises environmental concerns as firms seek to exploit seabed resources. ​NPR

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