Today's Stories
Source: Fireweed Metals
Fireweed Metals (TSXV: FWZ) has raised C$61.5 million in a non-brokered private placement at $4.18 per share, led by Japan's JX Advanced Metals and the Lundin Family Trusts. Proceeds will advance the Macpass zinc and Mactung tungsten projects in Yukon and the early-stage Gayna project in the Northwest Territories. Mactung is one of the world's largest high-grade tungsten deposits, with a feasibility study underway targeting completion in early 2027.
Source: The Australian
Major energy producers have warned the Albanese government that proposed levies on gas and petroleum exports would compound the current fuel crisis and risk triggering a broader power crunch. Industry groups argue that new taxes would deter investment in domestic supply at precisely the moment Australia needs more of it, with diesel and petrol prices already at record levels following Iran-war disruptions to Strait of Hormuz shipping. Shell Australia warned that imposing new levies would send "the worst possible signals for investment" in a market already under severe supply strain.
Source: MINING.COM (Bloomberg)
Vale is pivoting toward India as Chinese steel output plateaus at around one billion tonnes annually and risks modest decline. CEO Gustavo Pimenta has flagged India as a priority growth market, with the country projected to double steel production by decade's end and Vale targeting 10 million tonnes of iron ore sales there in 2025. The company's Novo Carajás capacity expansion, now 80% complete and due online in late 2026, is timed to meet rising Asian demand as China's pull on global seaborne ore weakens.
Source: The West Australian
Western Australia's most diesel-dependent iron ore operations are facing a critical fuel supply window, with some smaller mining companies holding as little as five days of diesel stocks. Iran-war disruptions to Strait of Hormuz shipping have choked Australia's fuel import pipeline, compounded by Tropical Cyclone Narelle disrupting Pilbara port operations. WA Premier Roger Cook held an emergency fuel security roundtable and pledged to prioritise fuel imports through state ports, while Macquarie estimated WA iron ore miners had three to five weeks of supply remaining.
Source: Reuters
Indonesia's Attorney General Office has raided companies linked to coal tycoon Samin Tan after he was named a suspect in alleged illegal mining operations in Central Kalimantan. Tan's company PT Asmin Koalindo Tuhup had its contract of work terminated in 2017 but allegedly continued mining and selling coal until 2025. The case is part of President Prabowo Subianto's broader crackdown on illegal resource extraction, following high-profile prosecutions in the tin sector.
Source: Miningmx (Reuters)
The DRC has signed a new agreement with China covering geological data sharing, investment protection, local mineral processing, and compliance monitoring, as Beijing moves to reinforce its already dominant position across cobalt, copper, lithium, and coltan. Chinese firms including CMOC, Zijin, and Huayou already control much of the DRC's mining industry, and Congolese mineral exports to China will gain duty-free access from May 1. The deal runs in parallel with a separate US-DRC strategic partnership signed in December, under which Washington offered security support in exchange for preferential access to Congolese mineral supplies.
Source: MINING.COM
A federal judge sided with the Bureau of Land Management in approving ioneer's Nevada lithium mine project, which received its final permit from Biden in 2024. The company continues seeking a financial partner after Sibanye Stillwater withdrew from the project.
Source: Capital Brief
Rio Tinto resumed operations at three mines following cyclone disruptions and maintained its 2026 shipments guidance. With iron ore trading at $108.10 per tonne, the company's lost export volumes represented significant value.
Source: Financial Post
Iran's attacks on Gulf aluminum production facilities are threatening a supply crisis in the aluminum market. The attacks pose risks to regional aluminum production and global supply chains.
Source: The Independent
A mining company announced plans to dig for rare earth elements next to Joshua Tree National Park in California. The proposed mining site reportedly sits within the habitat of an endangered desert species.
Source: Financial Post
Glencore and the Canadian government are nearing an agreement to save a threatened Quebec copper processing facility. The deal would preserve copper processing capabilities in the region.
Source: BNamericas
Venezuela is advancing mining sector reforms aimed at attracting private investment. Aris Mining Corporation is among the international mining companies primarily engaged in gold exploration, development, and production in Latin America.
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