Daily Mining Industry Report: April 11, 2025

Daily Mining Industry Report: April 11, 2025

Canadian Highlights

The Metals Company Pursues U.S. Deep-Sea Mining Authorization

Vancouver-based The Metals Company (TMC) is seeking U.S. government approval to commence deep-sea mining in international waters, potentially circumventing the International Seabed Authority (ISA). This move has sparked controversy, with critics arguing it undermines international agreements and raises environmental concerns. ​mining-journal.com+5AP News+5WSJ+5

Summit Nanotech Secures $25.5 Million for Lithium Extraction Technology

Calgary's Summit Nanotech has closed a US$25.5 million funding round led by Evok Innovations and BDC Capital’s Climate Tech Fund. The investment aims to accelerate the development of sustainable lithium extraction technologies, aligning with Canada's critical minerals strategy. ​WSJ

Global Developments

Stalled U.N. Seabed Mining Regulations Impact Industry Players

Progress on international regulations for deep-sea mining has stalled, affecting companies aiming to exploit ocean mineral resources. Norwegian firm Loke Marine Minerals filed for bankruptcy, while Canada's The Metals Company plans to bypass the ISA by seeking U.S. permits, raising legal and environmental concerns. ​miningwatch.ca+2WSJ+2AP News+2

BHP Reduces Contractors Amid Falling Coal Prices

BHP's BMA coal business has terminated several contractors at its Queensland mines due to cost-saving measures amid declining coal prices. The cuts are reported to be separate from an ongoing corruption investigation involving contractor overpayments. ​theaustralian

Explosion at Queensland Mine Raises Safety Concerns

A suspected explosion at the Moranbah North coal mine in Queensland has cast uncertainty over Peabody’s $3.8 billion deal to acquire steelmaking coal assets from Anglo American. The incident has prompted safety reviews and could impact the acquisition's completion. ​theaustralian

World Bank Invests $300 Million in Pakistan's Reko Diq Project

The International Finance Corporation, the World Bank's investment arm, has committed $300 million in debt financing to support the Reko Diq copper-gold mining project in Pakistan, highlighting international support for the country's mineral sector. ​Reuters

Technological Advancements

Epiroc Expands Manufacturing in India

Epiroc AB has inaugurated an expanded manufacturing facility for rock drilling tools in Hyderabad, India, aiming to enhance production capabilities and meet growing demand in the mining sector. ​globalminingreview.com

Market Trends

Mining Stocks Performance

As of April 12, 2025:​

• Newmont Corp (NEM): $54.97 USD (+7.89%)​MINING.COM+1MINING.COM+1

• Rio Tinto plc (RIO): $56.86 USD (+3.58%)​

• BHP Group Limited (BHP): $45.25 USD (+4.05%)​

• Freeport-McMoRan Inc (FCX): $33.35 USD (+6.35%)​

These movements reflect positive investor sentiment in the mining sector, influenced by rising commodity prices and strategic developments.

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