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Alcoa Anticipates $90M Impact From Tariffs On Canadian Aluminium Imports In Q2

Mining Technology

Alcoa Anticipates $90M Impact From Tariffs On Canadian Aluminium Imports In Q2US-based aluminium company Alcoa has projected that US tariffs on Canadian aluminium imports will cost the company $90m for the current quarter, while announcing the financial results for the first quarter of 2025 (Q1 2025). The company also announced an unfavourable impact of $15m on restart costs for the San Ciprián smelter in Spain. The gold standard of business intelligence. Find out more However, the company expects a sequential $165m benefit in alumina costs within its aluminium segment. The 25% tariff on aluminium imports imposed by US President Donald Trump is significantly affecting Alcoa’s operations. Alcoa reported that the tariffs had already cost the company around $20m during Q1. The tariffs, coupled with high duties on Chinese imports, are expected to increase Alcoa’s annual costs by an additional $10m–15m, as the company has not identified suitable replacement suppliers, reported Reuters. Alcoa CEO William Oplinger said during a post-earnings conference call: “Approximately 70% of our aluminium produced in Canada is destined for US customers and is now subject to 25% tariff costs… Currently, the net annual result is approximately $100m negative for our business.” Oplinger highlighted the challenges around US production capacity, noting that even with all idle smelting capacity restarted, there would still be a shortfall of 3.6 million tonnes (mt). He stressed the importance of Canadian aluminium for the US market, stating: “Until additional smelting capacity is built in the US, the most efficient aluminium supply chain is Canadian aluminium flowing into the country.” Alcoa’s financial performance in Q1 2025 has shown resilience despite these challenges, with net income increasing by 171% to $548m. Adjusted net income also saw a 106% increase to $568m, and adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) excluding special items climbed to $855m, a 26% increase. During Q1, Alcoa also engaged with administrations, governments and policymakers both in the US and internationally concerning the effects of tariffs on trade flows and the significance of primary aluminium to the US economy, given the highly integrated aluminium supply chain. Furthermore, the company collaborated with customers, suppliers and logistics companies to prevent supply disruptions.

Lundin Finalises Portugal And Sweden Operations Sale To Boliden For $1.52Bn

Mining Technology

Lundin Finalises Portugal And Sweden Operations Sale To Boliden For $1.52BnLundin Mining has completed the sale of its Neves-Corvo operation in Portugal and Zinkgruvan operation in Sweden to Boliden for a total consideration of up to $1.52bn. Boliden has acquired 100% of the shares of Somincor–Sociedade Mineira de Neves-Corvo, which operates Neves-Corvo, and 100% of the shares of Zinkgruvan Mining Aktiebolag and North Atlantic Natural Resources Aktiebolag, which together operate Zinkgruvan. The gold standard of business intelligence. Find out more Lundin received initial cash proceeds of $1.4bn, inclusive of accrued interest since 31 August 2024, upon closing. Lundin signed a definitive agreement with Boliden for the sale in December last year. The sale strengthens Lundin Mining’s balance sheet and is expected to support the company’s growth plans, particularly in the Vicuña District along the Chile-Argentina border. The agreement includes future contingent payments of up to $150m, which are dependent on commodity prices and the fulfilment of certain conditions. Up to $100m in contingent payments at Neves-Corvo are linked to the prices of copper and zinc. Boliden will pay Lundin Mining 60% of the incremental revenue realised when the average realised prices for copper and zinc exceed $4.50/lb and $1.30/lb, respectively, for each of the three calendar years from 2025 to 2027, based on London Metal Exchange (LME) reference prices. Additionally, up to $50m in contingent payments at Zinkgruvan are tied to the zinc price. Boliden will pay Lundin 50% of the incremental revenue realised if the average realised zinc price exceeds $1.40/lb for each of the two calendar years from 2025 to 2026, according to LME reference prices, provided that a minimum annual production of 135 million pounds of payable zinc is achieved. Lundin Mining president and CEO Jack Lundin said: “The sale of Neves-Corvo and Zinkgruvan marks the close of a pivotal chapter for Lundin Mining, one that elevated our profile and laid the groundwork for the growth we are now poised to deliver. With a more focused portfolio and a strengthened balance sheet, we are well-positioned for what is ahead. “As we enter the next phase, led by our high-potential growth strategy in the Vicuña District, we do so with enhanced financial flexibility to drive long-term shareholder value. Operationally, we remain on track to meet our guidance, which excludes the Neves-Corvo and Zinkgruvan assets.” In March 2025, Lundin signed an exclusivity deal with Talon Metals to negotiate a potential earn-in agreement for up to a 70% stake in the Boulderdash and Roland nickel-copper exploration projects in the US.

Us President Orders Probe Into Potential Tariffs On Us Critical Minerals Imports

Mining Technology

Us President Orders Probe Into Potential Tariffs On Us Critical Minerals ImportsThe US Government will investigate the imposition of new tariffs on all critical minerals imports under section 232 of the Trade Expansion Act of 1962 (section 232) to determine if they pose any risk to national security, under a new executive order issued by US President Donald Trump. Trump’s executive order requires Secretary of Commerce Howard Lutnick to report his findings within 180 days, which may include recommendations for tariffs on critical minerals that would override existing reciprocal tariffs set earlier this month. The gold standard of business intelligence. Find out more The review will examine US vulnerabilities in processing critical minerals such as cobalt, nickel, rare earths and uranium. It will also look into market distortions by foreign actors and strategies to enhance domestic supply and recycling. The order stated: “Critical minerals, including rare earth elements, in the form of processed minerals are essential raw materials and critical production inputs required for economic and national security. “Critical mineral oxides, oxalates, salts and metals (processed critical minerals), as well as their derivative products – the manufactured goods incorporating them – are similarly foundational to United States national security and defence.” Currently, the US has limited capabilities to extrac and process these minerals, with only a few mines and processing facilities. China, a leading producer of many critical minerals, has recently reduced its exports, raising alarms about US dependency and potential risks to national security and economic resilience, reported Reuters. The initiative is part of Trump’s broader efforts to boost US minerals production and processing, which include expediting the approval of US mines and identifying federal lands for minerals processing. However, the lengthy timeline required to establish new mines and facilities is a concern for securing minerals in the short term. The recent export restrictions by China on rare earths, in response to Trump’s tariffs, have heightened supply concerns among US officials. The White House also highlighted Trump’s focus on closing tariff loopholes in the supply chain, which involves multiple countries.

Evolution Mining Approves $273M Cowal Expansion Project In Australia

Mining Technology

Evolution Mining Approves $273M Cowal Expansion Project In AustraliaEvolution Mining’s board has approved an A$430m ($273.15m) investment to expand its Cowal Gold Operations in New South Wales (NSW), Australia. The Cowal Open Pit Continuation (OPC) project will add an estimated two million ounces (moz) of gold production and extend the mine’s life by ten years to 2042. The decision follows approval last year from the NSW Department of Planning, Housing and Infrastructure and the Federal Government earlier this year. The OPC project includes continued mining at the existing E42 pit and the development of three new satellite pits – E46, GR and E41 – to the north and south of E42. Evolution Mining managing director and CEO Lawrie Conway said: “Today, the Board has approved the project, which has compelling returns of 71% at current spot gold price and a short payback period. It will contribute to the goal of sustaining Cowal’s current production rate, while at the same time delivering significant economic benefits for all stakeholders. “The project represents a major milestone for Cowal, unlocking the potential for further sustained growth, enhanced shareholder returns, and the opportunity to leave a lasting positive impact for our stakeholders and the communities in which we operate.” Evolution Mining said that exploration efforts are ongoing, targeting further mineralisation that could support underground mining. The expansion of open-pit operations will enable access to high-grade ore underground, supporting plans to increase underground output to 2.4 million tonnes by fiscal year 2026 (FY26). At that point, underground production is expected to account for around 30% of total mine feed and 50% of gold output. Since its acquisition by Evolution Mining in 2015, the Cowal operation has generated more than A$1.62bn in net mine cash flow, including A$479m in the first nine months of FY25. Evolution Mining operates six mines across Australia and Canada, with Cowal being one of its wholly owned sites.

Patagonia Gold Signs $40M Investment Deal For Argentina Project

Mining Technology

Patagonia Gold Signs $40M Investment Deal For Argentina ProjectPatagonia Gold has signed an investment agreement with Black River Mine, under which the latter will provide up to $40m (£30.21m) to support the development of the company’s Calcatreu gold project in Rio Negro, Argentina. Black River Mine is a newly formed entity led by Argentine businessman Carlos J Miguens, a shareholder in Patagonia Gold, and comprises a consortium of investors. The gold standard of business intelligence. Find out more The funding will be facilitated through Patagonia Gold’s wholly owned subsidiary, Patagonia Gold Canada (PG Canada). Under the agreement, Black River Mine will purchase up to 40 million preferred shares of PG Canada at a price of $1 per share. Upon acquiring the full allotment of preferred shares, Black River Mine will hold 40% of PG Canada, with Patagonia retaining a controlling 60% interest. Furthermore, as part of the agreement, Black River Mine will be entitled to nominate one of three directors to PG Canada’s board and will also have participation rights in future equity issuances by PG Canada, subject to the terms of the agreement. The financing is subject to customary closing conditions including shareholder approval and final clearance from the TSX Venture Exchange. The gross proceeds from the transaction will be used by Patagonia exclusively for the development of the Calcatreu Project and to cover related financing expenses. Located near the southern border of Rio Negro Province, the Calcatreu Project was acquired by Patagonia Gold from Pan American Silver in 2018. As per the estimates, the project contains 746,000 gold equivalent ounces in the measured and indicated resource category and 390,000oz in the inferred category. In October 2024, Patagonia Gold acquired four new mineral concessions surrounding its Mina Angela project in Argentina. The acquisition, totalling 15,494ha, brings the company’s mineral properties in the region to more than 52,000ha.

Newmont Deploys Ericsson Private 5G At Australia’S Cadia Mine For Smarter Mining

Mining Technology

Newmont Deploys Ericsson Private 5G At Australia’S Cadia Mine For Smarter MiningGold miner Newmont has implemented Ericsson Private 5G at its Cadia gold-copper mine in Australia, marking the first use of private 5G technology for teleremote dozing as a part of the mine’s surface operations. The Cadia mine is said to be Australia’s largest underground mine and a Tier 1 asset. With the integration of Ericsson Private 5G, Newmont can connect its entire dozer fleet across a 2.5km span from a single 5G radio base, achieving uplink throughput of up to 175 megabits per second. This has enhanced machine productivity and ensured zero interruptions from communication instability, significantly boosting safe production levels. Prior to this advancement, Newmont faced challenges with Wi-Fi, limiting connectivity to no more than two machines within a 100m range. Wi-Fi’s instability often resulted in significant downtime, sometimes halving a 12-hour shift’s productivity due to troubleshooting and attempts to restore connectivity. Newmont process control, networks and operational cellular director Chris Twaddle said: “Ericsson’s Private 5G network gives us a scalable and high-performing solution that provides the coverage needed and keeps our people safe. It is also enabling our long-term digital transformation vision to use 5G for smart mining at our Tier One surface and underground mines globally.” Newmont deployed Ericsson’s 5G Antenna Integrated Radio and Massive Multiple Input/Multiple Output (MIMO) technology, which enables the high levels of uplink connectivity required for tele-remote dozing. The MIMO technology utilises the mid-band spectrum to extend uplink throughput distances beyond traditional radio technologies, effectively increasing network capacity. Additionally, the Ericsson Uplink Booster, a feature of Ericsson Silicon microprocessors in the radios, amplifies the uplink signal strength tenfold, further enhancing performance capabilities. Ericsson Enterprise Wireless Solutions Enterprise 5G head Manish Tiwari said: “The deployment with Newmont at Cadia demonstrates the power of 5G for industry, where Ericsson’s industry-leading radio portfolio can reduce the amount of infrastructure that needs to be deployed and operated to cover an industrial site or area. “This also allows enterprises to use private 5G networks they own to achieve high levels of performance for advanced video-based control and computer vision initiatives without large amounts of spectrum. This is especially valuable to organisations that are operating in spectrum-constrained markets.” In February 2025, the New South Wales Government approved changes to the planning consent for Newmont’s Cadia mine to improve environmental standards.

Indian Polished Diamond Exports Decline To Two-Decade Low

Mining Technology

Indian Polished Diamond Exports Decline To Two-Decade LowIndia’s exports of cut and polished diamonds have fallen to their lowest level in nearly two decades, as reported by the Indian Gems and Jewellery Export Promotion Council (GJEPC). The decline is attributed to a decrease in demand from key markets such as the US and China, reported Reuters. The gold standard of business intelligence. Find out more The fiscal year 2024/25 (FY24/25), ending in March, saw a 16.8% year-on-year drop in these exports, totalling $13.3bn. This downturn has had a ripple effect, reducing overall gem and jewellery exports by 11.7% to $28.5bn compared with $32.28bn in the previous year, a four-year low. In response to the reduced demand for polished diamonds, Indian processors have cut back on rough diamond imports by 24.3%, bringing the total to $10.8bn. Despite the overall downturn, there was a slight uptick in March, with a 1% year-on-year increase in gem and jewellery exports to $2.56bn. This was largely due to exporters accelerating shipments in anticipation of US tariffs. US President Donald Trump had initially planned a 27% tariff on imported Indian goods from 9 April as part of a broader tariff strategy, but later announced a 90-day suspension of the measure. GJEPC vice-chairman Shaunak Parikh said: “US buyers were loading up in March before the tariffs kicked in. Indian exporters were also rushing to ship out US orders first, so they wouldn’t get hit with those extra costs.” Despite the temporary tariff reprieve, a major Mumbai-based exporter expressed doubts about a recovery in India’s gems and jewellery exports this year, citing the US tariffs as a significant factor in global market disruption and weakened buyer confidence. In a related development, Indian state-run miner NMDC recently announced plans to produce 6,500 carats of diamonds worth $3.4m this fiscal year from the Panna mine in Madhya Pradesh.

Auric Mining Starts Site Preparation For Munda Gold Mine’S Starter Pit

Mining Technology

Auric Mining Starts Site Preparation For Munda Gold Mine’S Starter PitAuric Mining has initiated the development of the Munda gold mine, located 5km from Widgiemooltha in Western Australia (WA), with the mobilisation of plant and equipment for the mine’s starter pit. Mining at the starter pit is set to commence this week, with completion expected to take around six months. The gold standard of business intelligence. Find out more The WA Government’s Department of Energy, Mines, Industry Regulation and Safety has approved the Munda starter pit mining proposal and mine closure plan. Site preparation activities are currently under way, including the survey mark-out of the pit crest, haul roads, waste dump, run-of-mine pads and site office. Auric has also secured a contract with MHM Contracting for the dry hire of the mining fleet, which will be operated by Auric’s own personnel. The starter pit represents the initial phase of Auric’s strategy to exploit the larger Munda Resources. Following the completion of the starter pit and a thorough analysis of the results, Auric plans to undertake pit optimisation and mine planning for an expanded pit at Munda. Based on the outcomes from the starter pit and subsequent planning, the company intends to mine a larger pit by mid to late 2026. Auric Mining managing director Mark English said: “We are right on schedule and have mobilised all the necessary machinery and infrastructure. Earth works have commenced; we will begin mining in a few days. “The project is another significant step, both in our ambition to become a substantial gold producer in the district, and to develop Munda to its full potential.” A comprehensive grade control programme has been completed over the starter pit area by Kalgoorlie-based Total Drilling Services. The programme involved 428 holes drilled for a total of 14,670m. The results have enabled mine geologists to delineate near-surface ore blocks ahead of the mining operations. As mining progresses and exposes new benches, further grade control drilling will be conducted on a 5m x 5m pattern. Auric Mining plans to extract 125,000 tonnes (t) of ore at a projected grade of 1.8 grams per tonne of gold and an all-in sustaining cost of A$2,635 ($1,656) per ounce. In February 2025, Auric Mining generated more than $105m in gold sales from stage one and two operations at the Jeffreys Find Gold Mine near Norseman, WA.

Golden Opportunity: Read The New Issue Of Mine Australia!

Mining Technology

Golden Opportunity: Read The New Issue Of Mine Australia!In the April 2025 issue of MINE Australia, we look at industry progress on decarbonisation through both renewables implementation and electrification initiatives. The mining sector’s transition to renewable energy faces several structural and operational hurdles. Yet with its abundance of sun and wind resources, Australia is well positioned to lead the way. The gold standard of business intelligence. Find out more At the St Ives mine in Western Australia (WA), Gold Fields is implementing its largest renewables project to date, aiming to generate 73% of the mine’s electricity from a combination of wind and solar energy by 2026. We ask whether this project could be a blueprint for future decarbonisation efforts and what more could be done to support such initiatives in Australia. We also delve deeper into Australia’s progress with mine site electrification and explore the country’s ambition to bolster its green metals industry. Plus, we look at the energy-intensive comminution process and how AI is supporting more sustainable crushing and grinding operations. Elsewhere, we examine how WA is looking to enhance its capabilities in automation and robotics with a new government-funded test facility. We also speak to Geoscience Australia about a project to map the nation’s critical mineral resources and report from the PDAC 2025 convention on the use of new technologies in minerals exploration. Read all of this an more in the April issue of MINE Australia at: https://mine.nridigital.com/mine_australia_apr25/ You can sign up to receive future issues of MINE direct to your inbox. In the May issue of MINE Australia, we look at the uranium mining outlook in the country. With uranium subject to a myriad of state-based policy and legislation, we ask whether bans in certain regions could be overturned amid growing demand pressure. We also explore efforts to decarbonise Australia’s aluminium sector, examine the growing role of autonomous technologies in mining, and delve into the latest enhancements in fleet management technology.

China’S Rare Earth Exports Stall Amid Trade Restrictions

Mining Technology

China’S Rare Earth Exports Stall Amid Trade RestrictionsShipments of seven rare earth elements (REEs) that were recently added to China’s export control list have stopped, potentially leading to international shortages, reported Reuters, citing three sources. The REEs including yttrium, dysprosium and terbium, which have been added to the export control list, are essential to modern technology. The gold standard of business intelligence. Find out more Exporters of these critical materials used in defence, energy and automotive industries are facing delays as they navigate the new licensing requirements. The restrictions were in response to US tariff hikes and have left exporters awaiting licences from the Ministry of Commerce, a process that lacks transparency and can take several weeks to months. The halt in exports is particularly concerning as it could lead to the depletion of stockpiles if the situation persists beyond two months. This would be especially problematic for US clients amidst the intensifying trade war. “When asked by my clients when their cargoes will be able to leave China, we give them an estimated time of 60 days but it may actually take longer than that,” disclosed a China rare earth trader, who preferred to remain anonymous due to the sensitivity of the issue. China, accounting for around 90% of the world’s rare earth production, is demonstrating its ability to leverage this dominance as a geopolitical tool, according to the report. Nevertheless, this move may also erode China’s market position in the long term by prompting buyers to seek alternative sources to speed up diversification efforts. Some Chinese sellers have already invoked force majeure to avoid penalties for non-delivery, as cargoes at ports have been barred from leaving without customs clearance. The exact number of affected shipments remains uncertain.