Daily Mining Industry Report: September 23, 2025

Daily Mining Industry Report: 2025‑09‑23

Global Developments (Past 24 Hours)

1. DR Congo moving from cobalt export ban to quota system
   Beginning October 16, 2025, the DRC will replace its export suspension on cobalt with a quota scheme: 18,125 tonnes for the remainder of 2025, rising to 96,600 tonnes annually in 2026‑2027. The change is intended to stabilize prices, improve traceability (especially for artisanal mining), and reduce illicit exploitation. Reuters

2. Gold hits new record; Canadian TSX futures tick up
   Canada’s S&P/TSX index futures rose slightly, influenced by gains in gold mining stocks. Gold itself reached a fresh all‑time high globally, supported by expectations of more U.S. interest rate cuts. The rise in raw material prices eased somewhat, while producer prices increased, in part due to more expensive chemicals and foodstuffs. Reuters

3. Fortescue updates decarbonization plan, scaling back hydrogen focus
   Fortescue has revised its climate transition strategy, delaying its “real zero” emissions target from 2029‑30 to 2030‑31. The updated plan emphasizes electrification and renewable energy (solar, wind, battery storage) over hydrogen‑based solutions, and includes the increased deployment of electric mining equipment. The Australian

Canadian‑Focused News & Policy Updates

4. Canada to closely review Teck‑Anglo merger under national interest lens
   Canada’s Finance Minister stated that the proposed US$53 billion merger between Teck Resources and Anglo American will be thoroughly examined to see if it serves the national interest. The Industry Minister will make the final determination. Reuters

5. Mining permit timelines reduced in B.C.
   British Columbia has cut mining‑permit processing time by 35% since 2019, while maintaining environmental and regulatory standards, as part of efforts to attract investment and speed project development. BC Gov News

6. Strong drill intercepts at Newfoundland’s Buchans Project (Canterra Minerals)
   Canterra Minerals reported several notable drill results at its Buchans Project, including 16.0 metres at 1.72 % copper equivalent at the Clementine Prospect, among other promising high‑grade copper/gold hits. ArcPacific Resources Corp.

7. Updated economic assessment for Goldfields Project in Saskatchewan
   Fortune Bay Corp released an updated Preliminary Economic Assessment (PEA) for its Goldfields project in northern Saskatchewan, resulting in an after‑tax net present value (at current gold prices) of approximately C$1.25 billion. Permitting is underway. Newswire

8. Private‑placement financing by Appia Rare Earths & Uranium
   Appia is raising capital via a non‑brokered private placement to support its rare earth / uranium exploration (Alces Lake in Saskatchewan, and other properties in the Athabasca Basin) and its Brazilian ionic adsorption clay project. Junior Mining Network

Technological & Operational Advances

9. Autonomous haul trucks enhance safety and efficiency at Quellaveco mine
   At Quellaveco (Peru), Anglo American and its partner Ferreyros have deployed 32 Cat 794 autonomous trucks under the Cat MineStar Command system. The fleet is reported to be delivering measurable improvements in operational safety and efficiency. Canadian Mining Journal

Market Trends & Implications

• Strength in gold and critical metals driven by macroeconomic expectations
  With gold hitting record highs, there is growing investor interest in safe‑haven and strategic metals, particularly in the context of expected monetary easing and supply constraints (e.g. cobalt quotas in DRC).

• Regulatory acceleration in Canada
  Reduced permit timelines in B.C., close government review of major M&A (Teck‑Anglo), and strong project economics (as with Goldfields, Buchans) suggest that regulatory and investment climates are becoming more favourable for mining projects in Canada—especially those with critical or precious metal exposure.

• Sustainability and emissions reduction remain central
  The trend of companies updating decarbonization targets (e.g. Fortescue), deploying autonomous/electric equipment, and placing more emphasis on traceability (e.g. cobalt quotas) point to ESG (environmental, social, governance) factors continuing to shape investment and operational decisions.

• Exploration remains active at grassroots and intermediate levels
  Drill results from projects like Buchans and Selkirk (Botswana) confirm that exploration investment is still yielding promising results, particularly in copper, gold, and other critical/precious metals. NexMetals Mining Corp.+1

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