Daily Mining Industry Report: March 31, 2025

Daily Mining Industry Report: March 31, 2025

Canadian Developments

• First Quantum Minerals Withdraws $20 Billion Arbitration Against Panama

  Canadian mining company First Quantum Minerals has withdrawn its $20 billion arbitration claim against the government of Panama concerning the closure of the Cobre Panamá copper mine. This decision may pave the way for renewed negotiations and potential reopening of one of the world's largest copper mines, which was shut down in 2023 amid environmental and corruption concerns. ​Financial Times+1MINING.COM+1

• 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. ​

Global Developments

• White House Considers Executive Order to Expedite Deep-Sea Mining

  The U.S. administration is contemplating an executive order to fast-track permits for deep-sea mining in international waters, potentially allowing companies to bypass United Nations-backed reviews. This initiative seeks to secure critical minerals like nickel and copper, essential for the economy. Environmentalists have raised concerns about the significant ecological risks associated with deep-sea mining. ​Reuters

• Explosion in Spanish Mine Results in Five Fatalities

  An explosion at the Cerredo mine in Degaña, Asturias, Spain, has resulted in the deaths of five miners and injured four others. The incident occurred due to a machinery failure, with gas presence suspected as a contributing factor. Authorities have initiated investigations, and a two-day mourning period has been declared in the region. ​Latest news & breaking headlines

• French Polynesia's President Opposes Deep-Sea Mining

  Eric Trump and Donald Trump Jr. have partnered with Hut 8, a Canadian Bitcoin mining platform, to establish American Bitcoin. This new venture aims to become the world's largest and most efficient Bitcoin miner, with plans to develop a strategic Bitcoin reserve. Eric Trump will serve as Chief Strategy Officer, highlighting the family's commitment to the cryptocurrency sector. ​Investopedia+1WSJ+1

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