Daily Mining Industry Report: April 09, 2025

Daily Mining Industry Report: April 10, 2025

Canadian Developments

Summit Nanotech Secures $25.5M for Lithium Extraction Technology

Calgary-based Summit Nanotech has closed a US$25.5 million funding round led by Evok Innovations, BDC Capital’s Climate Tech Fund, and others. The capital will accelerate development of its sustainable lithium extraction technology, crucial for Canada's critical minerals strategy. ​globalminingreview.com

Galleon Gold Receives Approval for West Cache Bulk Sample Program

Galleon Gold Corp. has obtained formal approval from Ontario's Ministry of Energy and Mines to proceed with an advanced exploration bulk sample program at its West Cache Project in Timmins. The program includes extracting an 86,500-tonne bulk sample, expected to grade 8.13 g/t gold. ​

Global Developments

Indonesia Denies Military Involvement in Papua Mining Incident

Indonesian authorities refuted claims by the West Papua Liberation Army that 17 individuals killed in Yahukimo district were soldiers disguised as gold miners. The Defense Ministry confirmed 11 bodies recovered, asserting the military's role is solely for national security. ​AP News

Endeavour Mining Shares Rise Amid Market Gains

Endeavour Mining PLC's shares increased by 5.91% to £18.83 on April 10, outperforming the FTSE 100 Index, which rose by 3.04%. Despite the gain, Endeavour remains 3.14% below its 52-week high. ​MarketWatch

Technological Advancements

Metso Expands Nordberg HPe Crusher Series

Metso has announced the addition of a sixth model to its Nordberg HPe crusher series, offering scalable and energy-efficient solutions for high-performance crushing in mining applications. ​globalminingreview.com

Solvay Enhances European Rare Earths Production

Solvay inaugurated a new production line in France, marking the start of rare earth production for permanent magnets. This expansion supports Europe's Critical Raw Materials Act and enhances supply chain sovereignty. ​globalminingreview.com

Market Trends

Gold Prices Surge Amid Trade Tensions

Gold prices have reached new highs as the US-China trade war escalates, with investors seeking safe-haven assets. ​mining.com

Mining Stocks Performance

As of April 11, 2025:​

• Newmont Corp (NEM): $50.94 USD (+4.53%)​

• Rio Tinto plc (RIO): $54.87 USD (-1.37%)​

• BHP Group Limited (BHP): $43.49 USD (-1.98%)​

• Freeport-McMoRan Inc (FCX): $31.35 USD (-7.11%)

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