Daily Mining Industry Report: April 04, 2025

Daily Mining Industry Report: April 4, 2025

Canadian Developments

• Canada Extends Mineral Exploration Tax Credit

  The Canadian government has extended the 15% Mineral Exploration Tax Credit (METC) for an additional two years to support investments in exploration projects within the energy and natural resources sector. This extension aims to provide alternative capital sources amid Canada's stringent stance against Chinese state-owned enterprises in domestic mining. ​Reuters

• Alberta Lifts Moratorium on Coal Exploration

  In January 2025, Alberta's government lifted its moratorium on new coal exploration and development in the Eastern Slopes of the Rocky Mountains. This decision reinstates the 1976 Coal Policy, allowing coal companies to resume activities on previously restricted lands, excluding Category 1 lands such as parks and wildlife sanctuaries. The move has sparked public debate due to environmental concerns. ​Wikipedia

• Barrick Gold Targets 30% Production Growth by 2030

  Barrick Gold Corporation has announced plans to achieve a 30% growth in gold equivalent ounces by the end of the decade. This initiative is part of the company's strategy to enhance its portfolio of growth projects and solidify its position as a leading gold and copper producer. ​GlobeNewswire

Global Developments

• China Imposes Export Controls on Rare Earth Elements

  In retaliation to U.S. tariffs, China has implemented export controls on several key rare earth elements vital to industries ranging from electronics to clean energy and defense. Effective April 4, restrictions apply to seven categories, including samarium, gadolinium, and dysprosium. This move underscores China's dominance in the sector and may prompt Western nations to seek alternative supply chains. ​MINING.COM+3Reuters+3MINING.COM+3

• Global Markets React to U.S. Tariffs

  The announcement of sweeping tariffs by the U.S. administration has led to significant declines in global stock markets. Major indices, including the FTSE 100, experienced sharp drops amid fears of a global recession. Mining companies such as Glencore and Anglo American saw substantial losses, reflecting concerns over dampened demand for raw materials. ​

• Deadly Explosion in Bolivian Gold Mine Conflict

  An explosion at the Yani mining camp in Bolivia resulted in at least five fatalities amid a violent dispute between rival gold mining cooperatives over territorial claims. The incident highlights ongoing tensions in Bolivia's mineral-rich regions. ​

Market Trends

• Copper Prices Plummet Amid Trade War Escalation

  Copper prices have plunged more than 5% as the global trade war escalates, turning the mining sector into one of the worst performers amid a broad market selloff. The decline reflects investor concerns over reduced demand for industrial metals. ​MINING.COM+3MINING.COM+3MINING.COM+3

• Mining Stocks Experience Significant Declines

  Mining stocks have shown cracks amid worries that newly announced tariffs could impact metals demand. Companies like Glencore and Freeport-McMoRan have seen sharp declines, with Glencore down 9% and Freeport-McMoRan plummeting almost 12%. ​Investopedia

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