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Volume: 114. Issue.08. August 2025

30 MINING INFORMATION TECHNOLOGY IN 2025 Landscape, Drivers, and Future Horizons

26

Canada Reclaims Mining Finance Crown

with $7.7 Billion Surge

THE ENVIRONMENTAL COSTS WE EXPORT Iron Ore

Iron ore mining, essential for the 2.1 billion tonnes of steel expected to be produced globally in 2025, is simultaneously one of the most ecologically impactive industries.

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Skillings.net | August 2025

08 EU’s €1.3B Africa

Volume: 114. Issue.08. August 2025

12 India’s Mining Bill 2025: A Global Play for Critical Minerals

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14

Mining Push: Signals Strategic Shift in Critical Mineral Supply

Iron Ore

Keeping Iron Ore Mines Productive

THE ENVIRONMENTAL COSTS WE EXPORT Iron ore mining, essential for the 2.1 billion tonnes of steel expected to be produced globally in 2025, is simultaneously one of the most ecologically impactive industries.

Mining Information Technology in 2025

30 42

Canada Reclaims Mining‑Finance Crown with $7.7 Billion Surge

Pentagon Rare Earths Deal Sparks Rally in Australian Miners

With rare earth supply chains under strain, the U.S. is turning to recycling - tapping e-waste to reduce dependence on China and strengthen industrial security.

A Pentagon equity deal with MP Materials, backed by a $110/kg price floor for key rare earths, has sent Lynas and Iluka shares soaring - marking a turning point in U.S. Australia supply chain collaboration.

05 Latin America’s Copper Future Hinges on Argentina’s Incentives, Chile’s Decline 06 Gold’s Critical Mineral Debate Gains Ground Amid Price Surge 10 Antimony Mining USA: A Strategic Metal Returns to America’s Backyard 20 Titan Mining to Launch First U.S. Graphite Supply Chain in Over 70 Years

Landscape, Drivers, and Future Horizons

28 President Trump’s Deep-Sea Mining Drive Sparks Global Minerals Race 34 Nickel Prices Are Plunging 35 Apple Commits $500M to MP Materials 36 Rare Earth Recycling Becomes Strategic Imperative for U.S. Supply Chain Resilience 37 Red Mountain Launches HighGrade Gold Exploration in Ontario

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38 Profit Boom Rides on Domestic Demand Strength 39 Trump Coal Tax Credit Sparks $300M Export Boost, Renewing Debate Over Energy Policy 40 Heavy Rare Earths Shifts to South Australia Uranium Exploration 41 Illegal Gold Mining in Amazon Exposed 44 Zangge Lithium Halt Shakes Global Markets

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Skillings Mining Review of CFX Network LLC, publishes comprehensive information on global mining, iron ore markets and critical industry issues via Skillings Mining Review Monthly Magazine and weekly. SMR Americas, Global Skillings and Skilling Equipment Gear newsletters.

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Skillings.net | August 2025

Latin America’s Copper Future Hinges on Argentina’s Incentives, Chile’s Decline

L

China is pouring billions into domestic smelting. Even as Latin America eyes a production rise to 11.4 million tonnes by 2030, dependence on Chinese buyers and slow-moving reforms in Chile add risk.

atin America’s grip on the copper market is showing cracks. While the region still supplies over 40% of the world’s copper, Chile’s ore grades have sunk below 1%, forcing miners like BHP to move more rock - and spend more just to maintain output.

Meanwhile, Argentina is banking on a new set of tax breaks and currency exemptions to draw copper producers back.

Its “Incentive Regime for Major Investments” aims to revitalize the country’s stalled mining sector, offering policy certainty in a region known for regulatory friction.

The timing is strategic.

Global demand for copper is rising, driven by electrification and AI infrastructure, but new players are gaining ground.

Congo’s copper grades exceed 3%, and

Juniors like Latin Metals and Hot Chili are racing to fill the gap, but as analysts warn, without downstream investment, the region could lose leverage. For Latin America, the next decade could determine whether it remains the copper powerhouse - or cedes the mantle to faster-moving rivals.

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5

GOLD DEMAND RISING

Gold’s Critical Mineral Debate Gains Ground Amid Price Surge Central Banks Move to Secure Bullion A World Gold Council survey shows 95% of central banks intend to raise their gold reserves in 2025, the highest on record. Many are also repatriating bullion, pulling it from foreign vaults in a move toward tighter sovereign control.

Mining Stocks Outperform the Metal

A historic gold rally is reviving talk of reclassifying the metal as a critical mineral, as investors and governments reassess its role in global economic security.

O

nce dismissed as a relic of the Bretton Woods era, gold is forcing its way back into strategic conversations.

Fueled by a 32% rally since November, the metal’s resurgence comes as markets contend with political instability, a potential Trump comeback, and eroding trust in U.S. sovereign debt. The debate now unfolding: Should gold be formally designated a critical mineral, essential not just for portfolios but for national security?

Gold Reimagined as a Strategic Asset Gold’s ascent is no longer just about inflation. Policymakers and investors are rethinking its function as a strategic

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Skillings.net | August 2025

• Gold has surged over 30% since November, nearing record highs amid debate about gold as a critical mineral.

• Central banks expect record purchases and repatriation of gold reserves.

• Mining stocks are outperforming the metal itself as investors see sustained demand.

• Reclassification of gold as a critical mineral reflects broader fears over U.S. financial stability.

reserve. The possibility of geopolitical fractures and central bank diversification away from the U.S. dollar are pushing gold into a new policy realm.

Producers are reaping the benefits. AngloGold Ashanti has surged 108%, Newmont 63%, and Barrick 40%, as investors favor lean operations with strong balance sheets and limited new supply.

A Shift in Criticality Standards?

Critics argue gold isn’t used in clean tech or advanced manufacturing. But voices like Alexandra Hudson at the Centre for Strategic Resources argue that “financial security is national security.”

A New Strategic Era for Gold Gold’s reclassification is no longer a fringe idea. As central banks hedge against political risk and economic disorder, the case for gold as a critical mineral grows stronger—alongside its price.

FINANCIAL security is national security.

Alexandra Hudson at the Centre for Strategic Resources

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INVESTMENT EYES AFRICA

EU’s €1.3B

Africa Mining Push Signals Strategic Shift in Critical Mineral Supply

The EU commits €1.3 billion to critical mineral projects across Africa, aiming to reshape global supply chains and support local development amid rising geopolitical competition.

I

n a decisive move to secure critical mineral supply chains, the European Union has pledged €1.3 billion in mining investment across Africa in 2025.

The initiative, one of the bloc’s largest overseas funding programs, targets essential resources like cobalt, lithium, rare earths, and copper.

The shift reflects mounting pressure from European industries to reduce dependency on China and respond to

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Skillings.net | August 2025

rising global competition in mineral procurement.

Strategic Stakes and National Partnerships The investment spans over a dozen African nations, with major allocations to the Democratic Republic of Congo (€400M), Zambia (€300M), Namibia (€250M), and Mozambique (€150M). Brussels has emphasized that its approach differs from past extractive models, aiming to sup-

port industrial value chains and ensure African participation in downstream processing.

“This is a structural commitment to Africa as an essential partner,” said Anika Reiter, a senior EU trade advisor.

Rising Demand and Global Rivalries Lithium demand is projected to more than triple by 2030, fueling Europe’s urgency.

China has dominated African mining investments for years, while the U.S. has launched its own Minerals Security Partnership. The EU’s program is seen

“THIS IS A STRUCTURAL commitment to Africa as an essential partner,” said Anika Reiter, a senior EU trade advisor. as a direct answer to these trends, with policymakers linking mineral access to the success of Europe’s clean energy goals.

Technical Assistance and Policy Reform Beyond financing, the EU is dispatching technical teams to support mining cadastre modernization, environmental compliance, and investor readiness.

Accountability and Local Development

“Transparent frameworks are key to attracting sustainable capital,” said Anna Müller of Germany’s Institute for International and Security Affairs.

While welcomed by many African leaders, the funding has reignited scrutiny over transparency and resource sovereignty.

A Defining Test

Experts caution that without regulatory reform and local processing mandates, the initiative could repeat past extractive cycles. Zambia and the DRC are working to build domestic refining capacity, while Namibia is requiring partial lithium processing within its borders.

As funds begin to flow, African nations face a pivotal test: Can they leverage European interest into lasting development?

With annual performance reviews and rising global scrutiny, both Brussels and its African partners are under pressure to deliver results that go beyond extraction.

9

RESOURCES SHIFT WESTWARD

Antimony Mining USA: A Strategic Metal Returns to America’s Backyard With rising geopolitical tensions and domestic policy shifts, antimony mining is making a comeback in the U.S., led by United States Antimony Corporation’s renewed efforts in Montana and Mexico.

N

ear Thompson Falls, Montana, the slow restart of United States Antimony Corporation’s conveyor belt marks more than a return to production—it signals a potential rebirth of America’s antimony industry.

Amid rising global tensions and mounting concerns over critical mineral supply chains, UAMY is positioning itself to fill a strategic gap long dominated by China and Russia. More than 80% of U.S. antimony is currently imported, most of it from China.

A Strategic Vulnerability Antimony is vital to U.S. defense systems, microelectronics, and nextgeneration batteries. Its flame-retardant properties and alloying capabilities make it essential in munitions and clean energy infrastructure. The U.S. Geological Survey expects demand to rise sharply as defense modernization and electrification gather pace.

“This is a textbook example of a strategic vulnerability,” said Dr. Emily Hersh of DCDB Group. “Without antimony, certain

defense systems and infrastructure just don’t function.”

Policy responses are beginning to match the urgency. The Department of Defense is ramping up procurement, and the Inflation Reduction Act has introduced new tax incentives for domestic critical mineral production.

Los Juarez: Opportunity with Caveats UAMY’s growth strategy hinges on Los Juarez, a polymetallic deposit in Mexico rich in antimony, silver, and gold. After prolonged delays due to permitting and processing issues, the company has resumed upgrades and partial shipments from the site.

However, analysts remain skeptical.

“The geology is compelling, but execution has been inconsistent,” said Joe Reagor of ROTH Capital Partners. “Investors need clarity and delivery.”

Bear River Zeolite: A Quiet Engine Meanwhile, UAMY’s Bear River Zeolite property in

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Skillings.net | August 2025

Idaho is providing steady financial support. Though not strategic like antimony, zeolite sales—used in environmental and agricultural sectors—have hit record highs, funding the firm’s broader mining ambitions.

Global Contest for Supply China controls over half of global mined antimony and an even greater share of refining capacity. With Russia also disrupted by sanctions, the West is scrambling to diversify.

The EU has announced new subsidies, while the U.S. promotes reshoring initiatives. Benchmark Mineral Intelligence forecasts global demand for antimony could rise 30% by 2030, outstripping current capacity.

“This is not a short-term dislocation,” Hersh said. “Strategic metals will define competitiveness for years.”

Execution is Everything Despite policy tailwinds, the path forward isn’t guaranteed. Environmental permitting, capital access, and technical discipline remain key hurdles for domestic producers. As Ellen Hughes-Cromwick of Third Way noted, “Policy alone won’t make these deposits viable. Sustained financing and execution are critical.”: The resumption of operations in Montana reflects both potential and past pitfalls. For antimony mining USA to become a true pillar of domestic supply, execution must match ambition.

With the conveyor belt rolling again, UAMY— and American industry—face a defining test of resilience and strategic readiness.

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NEW RULES, GLOBAL REACH

India’s Mining Bill 2025 A Global Play for Critical Minerals India’s new mining bill aims to transform its critical mineral strategy by funding overseas acquisitions, marking a historic shift in global resource diplomacy.

I

n a bold pivot from domestic-focused mining policy, India is preparing to unveil legislation that will allow public funds to support critical mineral acquisition abroad. The Mines and Minerals (Development and Regulation) Amendment Bill, 2025, is expected to be tabled in Parliament’s monsoon session.

of global rare earth refining - a chokepoint that has raised alarm among Indian policymakers.

A list of 30 minerals - lithium, cobalt, nickel, graphite, and rare earth elements among them—has been classified as “strategically essential.”

The bill represents a turning point in India’s mineral strategy, empowering the state to compete globally for assets essential to energy security, defense, and clean technology manufacturing.

This mission is India’s flagship program to control key inputs across the entire value chain—from overseas acquisition to domestic processing and recycling.

Responding to China’s Supply Dominance Geopolitical urgency is shaping this legislative momentum. In April, China tightened export controls on several rare earth elements, underscoring India’s vulnerability. China controls over 85%

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The Geological Survey of India, meanwhile, is slated to execute 1,200 mineral exploration projects through 2031, complementing the global sourcing strategy.

Balancing Growth with Governance

Expanding India’s Mineral Footprint The bill proposes a major expansion of the National Mineral Exploration Trust (NMET), enabling it to fund exploration and mining operations overseas for the first time. More than ₹1,600 crore could be allocated to support international sourcing partnerships under the broader National Critical Mineral Mission (NCMM).

funding program ties financial incentives to timely clearances and auctions.

“The thrust is on operationalizing critical mineral mines quickly,” said an official at the Ministry of Mines.

The new bill seeks to enable long-term offtake agreements and equity stakes in non-Chinese mines to diversify sourcing and reduce supply chain risk. Similar moves are underway globally, with the U.S. promoting its Minerals Security Partnership and the EU enacting its Critical Raw Materials Act.

Accelerating Domestic Reform While looking outward, India is also streamlining domestic bottlenecks. The environment ministry has introduced Parivesh 2.0, a fast-track clearance portal for strategic mining projects.

A special monitoring unit supports state-level approvals, and the SASCI

Experts caution that India’s overseas mineral drive must address environmental and reputational risks. “Acquiring assets in politically volatile regions brings complex ESG challenges,” said Aditi Banerjee of the Observer Research Foundation.

“India will need skilled mining diplomats and commercial negotiators.”

The International Energy Agency has highlighted environmental degradation risks linked to rare earth extraction, particularly in countries with limited regulatory frameworks.

India’s mining bill signals a strategic evolution: from resource consumer to global competitor. With supply chains under pressure and clean energy goals looming, the legislation offers a blueprint for resource resilience.

If implemented with transparency and discipline, it could mark the beginning of India’s rise as a critical mineral power.

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COVERSTORY

Iron Ore

THE ENVIRONMENTAL COSTS WE EXPORT

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Skillings.net | July 2025

Iron’s HEAVY Footprint Iron ore mining, essential for the 2.1 billion tonnes of steel expected to be produced globally in 2025, is simultaneously one of the most ecologically impactive industries. Beneath every gleaming EV chassis and renewable energy megaproject lies the indispensable foundation of iron ore—responsibly extracted through a complex supply chain that increasingly prioritizes land stewardship, water efficiency, and advanced tailings management.

However, despite growing investor focus on ESG (Environmental, Social, Governance) metrics, enforcement remains fragmented and easily gamed.

As iron ore output surges in Africa and Latin America—often to fuel green steel ambitions in Europe and East Asia—a troubling new paradigm is emerging: carbon reduction via environmental outsourcing.

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Tailings and Toxic Waste Risk • Despite technological improvements, the storage and containment of iron ore tailings—often fine, silty waste mixed with heavy metals—remains a global hazard.

• A 2025 World Bank–UNEP joint audit of 347 tailings dams across Latin America revealed: • 56% did not meet Global Industry Standards on Tailings Management (GISTM) • 22% were in high seismic risk zones • Only 7% had third-party monitoring protocols

Core Environmental Risks Water Scarcity & Aquifer Disruption Air Pollution and Public Health Fallout in Iron Ore Mining Iron ore processing is water-intensive, Land Degradation & Biodiversity Collapse Open-pit iron ore mining removes topsoil, uproots endemic species, and often flattens critical forest reserves. In Brazil’s Carajás complex, satellite imagery reviewed by Global Forest Watch revealed a 14% increase in forest clearing between Q2 2024 and Q1 2025—much of it due to mine expansion roads.

“Carajás has been described as a microcosm of Brazil’s broader dilemma: economic growth powered by irreversible biodiversity loss,” Samarco's Mariana disaster cleanup is now estimated at $10.2 billion, with full ecological recovery “unlikely before 2060.”

In Africa, Simandou—one of the world’s largest untapped iron ore reserves—lies within a fragile mountainous corridor rich in endemic frogs, birds, and small mammals.

Conservation groups have flagged that its development risks creating a biodiversity sinkhole.

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Skillings.net | August 2025

particularly in the beneficiation and tailings disposal phases. In arid regions, water conflict is escalating.

• India’s NMDC was hit with record penalties in 2025 for overdrawing aquifers in the Bailadila Range. A joint tribunal found local wells had dropped over 6 meters in 18 months.

• In Western Australia, the Mid West Development Commission launched a regional task force after groundwater stress led to fish die-offs along the Murchison River.

Moreover, as mines chase lower-grade ores, water usage per tonne extracted is increasing, not decreasing.

Dust emissions from blasting, hauling, crushing, and stockpiling operations release PM2.5 and PM10 particulates— microscopic particles linked to asthma, cardiovascular disease, and premature death.

In India, the Jharkhand High Court suspended iron ore trucking through West Singhbhum in June 2025 after air sensors recorded PM2.5 levels up to 135 µg/m³— five times higher than WHO safe limits.

In South Africa’s Northern Cape, community clinics near Kathu reported a 42% increase in respiratory ailments over five years. The regional health directorate has linked this to iron dust from nearby operations.

ESG Greenwashing: A Growing Credibility Crisis As ESG investing surged past $51 trillion in AUM globally, iron ore majors have published increasingly glossy sustainabili-

The ESG North-South Divide

These tools are already being used by:

Iron ore is no longer just a commodity. Regulatory disparity is at the heart of a two-speed system.

• European regulators enforcing CBAM (Carbon Border Adjustment Mechanism) • Sovereign wealth funds (e.g., Norway’s GPFG) screening for greenwashing

Regulatory Standards

Enforcement Quality

Canada

High (post-2025 MDMER reforms)

Strong

High

Australia

Moderate-High

Strong in WA, weaker in NT

Medium

India

Medium

Inconsistent

Low–Medium

Brazil

Medium–High (post-Brumadinho)

Selective

Medium

Low

Weak

Region

West Africa

ty reports. But discrepancies between promise and practice are widening.

A 2025 Bloomberg Green audit found: • 41% of ESG reports by iron ore miners overstated Scope 3 reductions • 28% omitted noncompliant subsidiaries • 16% listed “biodiversity offsets” never verified by independent audits This has led watchdogs to introduce terms like “ESG laundering”—where firms maintain a green public face while exploiting under-regulated jurisdictions for high-impact extraction.

Trends & Forecasts: 2025–2030 What’s Working: • Dry Beneficiation Technology: Fortescue’s Iron Bridge project has reduced water use per tonne by 70%.

• Drone Dust Monitoring: Pilbara operations now deploy AI-based drones to map particulate flows in real time.

• ESG-Linked Finance: Lenders like SocGen and Standard Chartered are now tying credit terms to actual tailings compliance metrics.

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Public Transparency

ESG Premium Pricing The Singapore Exchange (SGX) and London Metal Exchange (LME) are exploring traceable iron ore contracts. Buyers would pay a premium for verifiably low-impact ore—similar to green aluminum and sustainable cobalt contracts.

Litigation and Risk Capital Very Low

What’s Not: • Tailings Retrofits: Older dams in Latin America, India, and Russia remain high-risk with little progress.

• Biodiversity Offsetting: Many programs exist only on paper.

• Global ESG Arbitration: Still non-binding and fragmented.

What Comes Next: Disruption or Reinvention?

The Rise of AI-Powered ESG Surveillance

Geospatial AI tools like PlanetScope, Satelligence, and Descartes Labs now track mine-related deforestation, dust trails, and tailings discoloration.

Expect an explosion of climate litigation targeting both producers and downstream buyers. Hedge funds are already testing ESG short positions—betting against firms with poor ecological oversight.

Actionable Insights for Industry Stakeholders For Operators:

• Stop externalizing risk. New insurance underwriting standards penalize ESG blind spots.

• Adopt real-time environmental monitoring (dust, water, noise) before regulators demand it.

For Policymakers: • Implement cross-border ESG harmonization through regional trade blocs (e.g., ASEAN, AfCFTA).

• Recognize local communities as ESG stakeholders, not just “affected parties.”

For Investors: • Focus due diligence on site-level data, not annual reports.

• Reward firms transitioning to dry tailings, filtered beneficiation, and energy-efficient haulage

Mining’s Green Reckoning Iron ore, the bedrock of global industry, stands at an inflection point. Its producers face a choice: continue masking harm behind polished ESG language, or pioneer a new model of extractive responsibility.

The cost of inaction—regulatory, financial, reputational—is growing faster than any profit margin. The mining firms that embrace true transparency, environmental stewardship, and

community inclusion will not only survive—they will dominate the iron economy of the 2030s.

Environmental Impact at a Glance Category

Mitigation

Impact Area

2025 Status

Land Use

Forest Loss, Erosion

Rising in Brazil, Africa

Poor enforcement

Water

Aquifer Depletion, Toxic Runoff

Acute in India, Australia

Sensor tech expanding

Tailings

Dam Failures, Toxic Leaks

56% noncompliance in LatAm

Dry-stack adoption slow

Air

Dust, PM2.5 Exposure

Public health crisis in hotspots

Drone monitoring growing

ESG Integrity

Reporting vs Reality Gap

Widening in Africa, SE Asia

AI monitoring surging

Outlook

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GRAPHITE SUPPLY REBORN

Titan Mining to Launch First U.S. Graphite Supply Chain in Over 70 Years With the Kilbourne Project in New York nearing commissioning, Titan Mining is poised to become America’s first vertically integrated graphite producer by 2025.

T

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itan Mining Corp. is preparing to restart an industry the United States has neglected for more than seven decades. By the end of 2025, the company expects to commence commercial production at the Kilbourne Project in upstate New York, positioning itself as the first fully integrated U.S. graphite producer since World War II.

Located within the Empire State Mines complex, Kilbourne will extract, process, and qualify natural flake graphite entirely within U.S. borders. For Titan, it’s not just about mining—it’s about securing a strategic material essential to the energy transition.

With major equipment arriving on-site and installation scheduled for August, the project is gaining critical momentum.

The Kilbourne Project is built around vertical integration.

Titan will manage every stage of production—from mining to

Skillings.net | July 2025

Vertical Integration: From Mine to Market

refining—without leaving the country. Existing infrastructure is a major asset: the project leverages on-site power, local workforce, and established logistics channels.

The U.S. government’s push for supply chain resilience and the private sector’s pivot away from Chinese dependency make Titan’s strategy timely and consequential.

“Graphite is a critical material, yet the U.S. has gone decades without domestic production,” said Don Taylor, CEO of Titan Mining. “This is a major step toward restoring that capability.”

Titan Mining’s Kilbourne Project is more than a revival of U.S. graphite production—it’s a foundational shift in how critical minerals are sourced and secured. As permitting delays hinder other projects, Titan is set to establish a rare domestic advantage. If the company stays on track, it won’t just be first—it will be the benchmark for America’s graphite future.

More than 90% of Kilbourne’s processing equipment has been sourced from North America, avoiding foreign supply chain disruptions and rising tariffs. The project’s graphite resource is still largely underexplored, with only 8,300 feet of a 25,000-foot strike drilled—suggesting long-term upside.

Trade Shocks Spur Domestic Momentum Titan’s progress comes amid tightening global trade conditions. Since 2023, China—supplier of over 70% of global graphite—has imposed export restrictions on battery-grade material. The U.S., which imports 100% of its graphite, has felt the shockwaves.

“GRAPHITE IS A CRITICAL MATERIAL, YET the U.S. has gone decades without domestic production,” said Don Taylor, CEO of Titan Mining. “This is a major step toward restoring that capability.”

Graphite comprises about 30% of a lithium-ion battery’s weight, making it indispensable to electric vehicles and energy storage. The Inflation Reduction Act (IRA) requires domestic or allied sourcing for tax credit eligibility, putting a premium on U.S.-produced materials.

“With escalating tariffs and tightening trade restrictions globally, Titan is uniquely positioned,” said President Rita Adiani. “We’re offering a secure, tariff-free U.S. supply.”

OEMs and defense contractors are already searching for IRA-compliant inputs—an environment that favors early movers like Titan.

Infrastructure, Timeline, and Market Potential August 2025 marks a key project milestone, with installation of the ball mill and associated systems. Titan projects full commissioning in Q4 2025 and sales qualification by early 2026. While offtake agreements have not been finalized, the company confirms active discussions with potential buyers.

A battery metals analyst based in New York underscored the significance of Titan’s timeline: “If they deliver on time, they’ll define the price floor for domestic supply. Being first matters—and they’re nearly there.”

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OPTIMIZING ORE FLOW

Keeping Iron Mines Productive

• New frontiers like India and Southeast Asia offer long-term promise, but lack the immediate pull of 2010s China.

The pivot now is to optimize existing assets. This shift is exemplified by Rio Tinto’s Gudai-Darri mine, now the most technologically advanced iron ore operation in the world.

Its autonomous truck fleet, robotic drilling, AI-powered scheduling, and on-site solar plant represent a post-expansion era where digital and physical infrastructure are one.

Contrast that with Guinea’s Simandou project, a massive high-grade iron ore development whose capital costs have ballooned past $25 billion.

Inside the 2025 Push to Rewire Iron Mining for the Age of Scarcity, ESG, and Automation

A

s the sun sets on the age of high-volume, low-cost expansion in iron ore mining, a new industrial philosophy is emerging across pit operations from the Labrador Trough to the Pilbara: productivity isn’t a metric—it’s a mindset.

Where decarbonization targets are tightening, ore grades are declining, and financial markets now demand both yield and ESG alignment, iron ore producers face a cold, hard truth: the only way to win is to do more with less. And faster.

From haul trucks running on lithium-ion batteries in the Western Australian outback to predictive analytics embedded in pit slope monitoring in Brazil, the global iron ore sector is undergoing a profound productivity realignment.

It’s no longer about expansion—it’s about extraction excellence, operational resilience, and integrated intelligence.

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Skillings.net | August 2025

Expand and Contrast From Volume to Value: Rewriting the Mining Playbook In the boom years following China’s WTO entry and the urbanization of 400 million people, iron ore productivity was synonymous with scale. Bigger pits, longer trains, faster ships. But those days are over.

• China’s steel consumption peaked in 2023 and is projected by S&P Global to plateau or decline through 2030.

Delays caused by governance friction, infrastructure bottlenecks, and geopolitical sensitivities with Chinese partners illustrate the risk of mega-project dependence. In this new reality, the ROI on operational excellence often exceeds the ROI on greenfield ambition.

Where Mines Fall Behind— And How the Leaders Are Pulling Ahead Across mature mining regions like Minnesota’s Mesabi Range, India’s Bellary district, and South Africa’s Northern Cape, many iron ore operations are still bound to legacy workflows. These include:

Definition

Top Quartile Benchmarks (2025)

Tonnage per FTE

Output per full-time equivalent

300,000–450,000 t/FTE

Energy per ton

kWh consumed per dry ton

75–90 kWh/ton

CO2 per ton

Scope 1+2 emissions per ton

0.15–0.25 tCO₂/ton

Unplanned downtime

% of available machine hours lost

Under 5%

Metric

Paper-based shift scheduling Reactive (not predictive) maintenance Fragmented geological modeling Minimal automation in ore handling and processing According to EY’s 2025 Mining Productivity Index, mines still operating in this mode are averaging 27% more downtime annually, and consuming 19% more energy per ton of ore moved compared to Tier 1 operators.

• • • •

What top performers are doing differently: 1. Digitizing from Core to Edge Vale has rolled out a centralized mine control platform across its Carajás complex, integrating orebody data, conveyor telemetry, and weather models. This has reduced non-scheduled stoppages by 23% YoY.

Meanwhile, India's NMDC is partnering with ABB to deploy digital twins in its Chhattisgarh mines, enabling real-time blending optimization across multiple pits and crushers.

2. Asset Reliability via Predictive AI SKF’s “Enlight AI” is now embedded in over 30 global iron ore operations. By ingesting vibration, thermal, and acoustic data from conveyor drives and motors, it predicts failure weeks in advance—giving planners time to adjust maintenance schedules without halting production.

In Canada, Champion Iron has integrated similar tools across its Bloom Lake mine, reducing critical failures by 60% in 18 months.

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Five Trends Reshaping Productivity Trajectories Through 2030 1. Mine-to-Mill AI Orchestration By 2027, it’s expected that over 40% of iron ore produced by the top 10 companies will flow through fully AI-orchestrated systems, integrating geology, blasting, crushing, and logistics in real time. Palantir’s Foundry platform, used in pilot programs

by Rio Tinto and Anglo, is demonstrating how predictive load balancing between pits and rail yards can unlock up to 6% throughput with zero new equipment.

2. B attery-Electric

Mobility & Smart Grid Integration

The rollout of Komatsu’s 320-ton battery-electric haul trucks is accelerating. These vehicles, when combined with solar-powered fast-charging depots (such as those installed at FMG’s Iron Bridge project), are expected to: • Reduce diesel use by 35% • Cut emissions by 28% sitewide • Qualify for green steel supply certification under EU CBAM rules

3. Low-Grade Ore Valorization With average ore grades declining globally, the economic threshold for processing lowgrade hematite and goethite is shifting.

Enhanced beneficiation using dry magnetic separation and plasma torch sintering is emerging as a game changer.

In India, JSW Steel is piloting plasma upgrading of sub58% Fe ores—potentially unlocking billions of tons of previously stranded reserves.

4. Next-Generation Tailings Reprocessing Waste is no longer waste. BHP and Vale are experimenting with extracting residual iron units and critical minerals like scandium and vanadium from old tailings ponds.

This aligns with broader circular economy goals and helps reduce the footprint of new waste facilities—an ESG double win.

Case Studies

Gudai-Darri, Pilbara (Rio Tinto) • Output per worker: ~450,000 t/FTE • Key Enabler: Full autonomous haulage, solar+battery energy, AI-predictive drilling • Uptime: 92% on critical assets

Bloom Lake, Quebec (Champion Iron)

3. Water and Tailings Efficiency

What We Really Mean by "Productivity" in 2025

Water scarcity has emerged as a productivity issue, especially in regions like Western Australia, Rajasthan, and parts of West Africa.

Mining productivity today is multi-dimensional. It’s not just tons produced— it's: But perhaps most importantly, productivity now includes adaptive capability: how quickly a mine can respond to market, regulatory, and environmental changes. Productivity thrives in companies that break silos, incentivize cross-functional KPIs, and treat frontline feedback as data—not noise.

Anglo American has retrofitted old tailings facilities with smart sensors to monitor saturation and flow rates, enabling the safe recycling of process water while reducing freshwater use by 30%.

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• Ore Grade: ~66.5% Fe • Technology: Real-time digital twin blending, predictive mill liner wear tracking • Advantage: High-grade ore with hightech scheduling = premium margins even in low-price environments

S11D, Carajás (Vale) • Tons/year: 90 million • Productivity Metric: Lowest energy/ ton worldwide (~75 kWh) • Driver: Truckless system with conveyor belt transport over 9km into processing

The companies that understand productivity as a systemic, cultural, and technological c o m m i tm e nt— n ot just a quarterly metric—will be those still standing, and profitable, when the next cycle turns.

5. Community Co-Productivity Mines that involve Indigenous and local communities in training, logistics, biodiversity stewardship, and land use planning report not only lower opposition but also higher ontime project delivery.

Rio Tinto’s Marandoo and Gudai-Darri Indigenous employment programs have become case studies in community-integrated productivity, with measurable reductions in workforce turnover and absenteeism.

Turning Productivity from Buzzword to Battleplan For the iron ore sector, productivity is no longer optional. It’s the lifeline. As ore grades fall, ESG pressures rise, and capital becomes selective, only the most adaptive, tech-integrated, and operationally agile mines will thrive.

Those that do not will find themselves trapped in high-cost, low-trust, stranded operations—ironic monuments to an analog era in a digital world.

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Canada Reclaims Mining Finance Crown with $7.7 Billion Surge in 2024

Canada renewed its position as the global hub for mining investment in 2024, raising over $7.7 billion across 1,100+ deals—driven by gold, lithium and uranium—but sustainability questions loom.

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anada surged ahead in global mining finance during 2024, with the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV) raising over $7.7 billion across more than 1,100 deals in the first half of the year—a 45% jump from 2023 and enough to push Canada past Australia’s ASX as the world’s top mining‑capital hub for the first time since 2020.

Anchored by demand for critical minerals and energy‑transition themes, this rebound highlights Canada’s continuing appeal as the “capital‑kitchen” for global mining. But deeper fissures—weak IPO activity, capital outflows, and institutional caution—threaten the momentum.

A Gold‑Led Recovery in Capital Markets The mining rebound was largely driven by gold, lithium, and uranium issuers, buoyed by rising global commodity prices and investor appetite for energy‑transition bets.According to PDAC’s 2025 Mineral Finance report, the surge pushed Canada’s share of world mining equity finance to 31% from 23%. Despite rising totals, the broader equity‑capital pool

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remains modest—around C$23 billion annually, barely half of the pre‑2018 norm the deep dive. Analysts warn that nearly all growth was tied to gold; without that buoyant price trend, total financing likely would have remained flat or declined.

IPO Drought and Market Concentration Despite robust early‑stage activity, Canada’s IPO engine has stalled. In June 2025, only two mining IPOs launched—a steep drop from the 50‑plus quarterly totals seen at the 2021 peak. That divergence means juniors can raise seed equity, but accessing the capital needed for mine development remains difficult.

At the same time, financing is increasingly concentrated: the top 50 deals captured 69% of funding, while micro‑cap explorers—though representing 79% of listed miners—secured only about 7% of the total capital raised the deep dive.

This concentration compounds risk and limits diversity in the ecosystem.

Institutional Retreat and Capital Exodus Institutional participation has also waned. The Canada Pension Plan Investment Board (CPPIB) cut its Canadian asset exposure from 16% in 2021 to just 12% in 2025, while U.S. allocations expanded to 47%.

Observers attribute the shift not to politics, but to concerns over depth and return potential in Canada’s equity market.

Meanwhile, net capital outflows intensified in early 2025: February saw C$35 billion leave the country, and by May, foreign investors had exited C$2.8 billion in Canadian assets, while domestic funds shifted C$13.4 billion to U.S. markets.

This trend erodes liquidity and undermines confidence in large‑scale equity raises.

Liquidity Challenges Undermine Deal Flow Trading volumes on the exchanges reflect a shallow ecosystem.

While TSX handles roughly US$10 billion daily, TSXV trades just US$70 million per day—miniscule in comparison with

the liquidity found on global crypto platforms or larger equity markets.The lack of turnover damages price discovery and deters both issuers and investors from participating in new equity raises. As one Montreal strategist noted, “Liquidity is what builds confidence… Without it, price discovery breaks down—and risk capital evaporates.”

Crown Reclaimed – but Can Canada Sustain It? Canada undeniably reclaimed the top spot in global mining finance in 2024, bolstered by critical mineral demand and commodity strength. Yet beneath the headline numbers lie vulnerabilities: a limited IPO pipeline, capital outflows, weak institutional support, and liquidity bottlenecks.

To sustain its crown, Canada must rebuild pathways from discovery to development. That means reviving IPO markets, restoring institutional depth, and widening access to long-duration capital. Without those reforms, the current surge may prove short‑lived—and Canada’s lead may quickly dissolve.

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RACE FOR MINERALS

President Trump’s DeepSea Mining Drive Sparks Global Minerals Race

With battery metal demand soaring, President Trump’s pro-mining agenda reopens the seabed frontier, pitting U.S. strategy against environmental and legal headwinds.

P

resident Donald Trump has made securing critical minerals a centerpiece of his second-term agenda—this time diving deeper than ever before.

With renewed focus on resource independence, the Trump administration is backing U.S.-led seabed mining ventures, targeting polymetallic nodules thousands of meters beneath the Pacific Ocean.

These metal-rich formations—packed with cobalt, nickel, manganese and copper—are seen as essential for powering

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electric vehicles, renewable grids, and military supply chains.

Trump’s support marks a significant escalation in the global race for strategic resources, one that now extends to the ocean floor.

Strategic Metals, Strategic Tensions Trump’s push is aimed squarely at reducing American dependence on China,

which currently processes the vast majority of cobalt and rare earth elements.

A 2024 U.S. Department of Defense report warned that “delays in securing deep-ocean mineral resources could undermine national security readiness.”

In speeches and policy briefings, the president has positioned seabed mining as a national imperative, citing the geopolitical threat posed by China’s dominance. The administration is reportedly

considering executive action to accelerate permits and bypass congressional inertia on offshore extraction.

The Metals Company and U.S. Access to the CCZ Several U.S.-affiliated companies are already active in the Clarion-Clipperton Zone (CCZ), a 4.5 million square kilometer expanse between Hawaii and Mexico.

The Metals Company, among the most vocal proponents, holds rights through partnerships with Pacific nations like Nauru and Tonga.

Company executives argue that nodules can be collected with less environmental impact than land-based mining. But their operations remain in a legal gray area.

The International Seabed Authority (ISA), the UN body responsible for regulating mining in international waters, missed its July 2023 deadline to finalize commercial rules. No binding framework exists yet.

Backlash from Scientists, Island Nations Marine researchers remain deeply skeptical. Sediment plumes from harvesting machines could smother delicate ecosystems and release stored carbon from the seabed.

“We’re standing on the edge of a technological revolution and an ecological catastrophe,” warned Dr. Sylvia Earle, former NOAA chief scientist.

Some Pacific Island nations have shifted positions. While Nauru triggered the ISA’s fast-track clause in 2021, others like Palau and Fiji are now calling for a moratorium, citing ecological and cultural concerns.

President Trump’s endorsement of seabed mining has elevated the issue to the highest levels of U.S. policy, crystallizing a new axis of competition: ocean-floor dominance.

“WE’RE STANDING on the edge of a technological revolution and an ecological catastrophe,” warned Dr. Sylvia Earle, former NOAA chief scientist.

With China, Norway, and others moving swiftly to exploit undersea resources, the U.S. is under pressure to act.

But the administration’s drive faces serious challenges—from unresolved legal frameworks to mounting ecological warnings.

Whether deep-sea mining becomes a pillar of Trump’s industrial legacy or a flashpoint of environmental controversy remains to be seen. The minerals may be within reach—but clarity, consensus, and caution are still in short supply.

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Mining Information Technology in 2025 Landscape, Drivers, and Future Horizons • Digital transformation is accelerating across the mining value chain, driven by surging investments in AI, automation, data integration, and cloud technologies.

• Operational efficiency, safety, and sustainability are the core objectives; companies are deploying autonomous fleets, predictive maintenance, remote operations, and digital twins.

• Strategic M&A and partnerships—such as Weir’s acquisition of Micromine and BHP’s battery-tech collaborations—underscore the sector’s pivot from machinery to software and systems.

• Policy, governance, and supply-chain dynamics—including decarbonization targets, critical minerals demand, and geopolitical shifts—are reshaping where and how IT is invested in mining.

Drivers of Mining IT Evolution Rising Demand for Critical Minerals Global electrification and clean‑energy transitions are triggering a sustained surge in demand for lithium, copper, nickel, and rare earth elements.

Mining producers are under pressure to not only ramp up output, but do so efficiently, responsibly, and rapidly.

ESG Imperatives and Decarbonization With mining responsible for roughly 4–7% of global greenhouse‑gas emissions, the need for emissions reductions has become existential. Companies like

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Fortescue are targeting “real zero” emissions by 2030 via renewable energy use and electrified transport; Kamoa Copper is deploying solar‑plus‑battery systems to cut emissions significantly.

Alongside hardware upgrades, there is increasing regulatory and public pressure to monitor environmental impacts—and IT systems are playing a key role.

Productivity, Safety, and Labor Constraints Many jurisdictions face ageing workforces and skill shortages. Technological adoption (automation, remote operations, advanced data analytics) is not just a means of boosting output, but a necessity to maintain operational safety and attract new talent.

Cybersecurity and Governance As mining operations become more digitally integrated, the attack surface grows—from autonomous vehicles to digital twin platforms and remote monitoring systems. Cybersecurity has emerged as a board‑room‑level concern alongside physical risk and environmental management.

Core Technology Trends and Applications AI & Machine Learning AI is now being used across the mining cycle:

• Exploration & resource modelling: machine learning accelerates identification of ore bodies, improving discovery rates by 20–30%.

• Predictive maintenance & energy optimisation: cloud‑based AI systems monitor equipment in real time to avert failures, optimise energy consumption, and schedule maintenance proactively.

By 2026, over 60% of mining companies are expected to have implemented AI‑driven systems for real time resource management and operations.

Automation & Robotics Autonomous trucks, drills, and loaders have moved from pilot projects to standard deployment in mature mining regions.

Autonomous fleets double productivity, reduce human exposure to hazards, and allow 24/7 operations. The global market for autonomous mining equipment is projected to grow from ~$3.1 billion to ~$6.2 billion by 2026.

Innovations are expanding underground too: concepts like “Robot‑As‑A‑Sensor” (RAAS) envision fleets of collaborative robots forming mobile sensor networks for hazardous and hard‑to‑reach environments.

Digital Twins & Remote Operations Digital twins enable virtual models of mining operations, including mine‑to‑mill material flows, which supports real‑time simulation, optimization, and troubleshooting.These systems integrate sensor telemetry, vehicle telematics, and process control data.

Additionally, remote control centers from safe, central locations can operate geographically distributed mines, providing centralized expertise and reducing on-site personnel needs.

Advanced Sensors & Remote Sensing Hyperspectral imaging, drone‑mounted sensors, and satellite‑based remote monitoring (such as those developed by emerging startups like NextAV) are enhancing exploration precision and environmental surveillance.

Data & Cloud Integration A key challenge remains: data interoperability across disciplines (geology, engineering, processing). Firms are investing in cloud‑native platforms that aggregate multidisciplinary data streams with shared standards and visualization tools—creating a unified digital view of operations.

Microsoft, Amazon, and Tesla have moved in to secure critical minerals, and are pressing for API‑friendly, scalable IT frameworks that integrate seamlessly with broader digital ecosystems.

Strategic Industry Actions Mergers and Software Acquisitions In a strategic pivot, Weir Group acquired Australia’s Micromine for £657 million to bolster its end‑to‑end digital offering from exploration to operations. This complements its earlier acquisition of AI‑firm Motion Metrics—signalling a broader shift from mechanical equipment to platform-oriented digital services.

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End-to-end digital mine value chain Exploration ML Ore Modelling

Planning

Extraction

Mine Planning

Autonomous

Software

Equipment

Processing

Logistics

AI Process Control

Fleet Tracking

Closure Closure Simulation

Partnerships for Electrification BHP recently signed preliminary accords with CATL and BYD to co-develop battery technologies, electric mining vehicles, fast‑charging infrastructure, and battery recycling for its global fleet—including WA rail operations.

Governance in e‑Mining India’s Mining Tenement System (MTS) won a national e‑governance award for its digital platform that streamlines approvals, enhances transparency, and supports sustainable oversight.

Industry Outlook & Strategic Recommendations Operational Integration Mining firms must accelerate cross‑functional integration: combining AI insights, autonomous execution, and remote monitoring within unified platforms. Failure to break down data silos will limit value realization and competitiveness.

Recommendation: Adopt modular, APIfirst architectures and invest in data governance frameworks. Prioritize digital twin deployments in pilot zones to expand across brownfield sites.

Talent & Workforce Evolution The workforce must transition from manual operation to data‑driven command. Mining companies must retrain operators as systems managers, robot supervisors, and data analysts.

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Recommendation: Develop partnerships with educational institutions, establish in‑house digital academies, and run real‑world technology upskilling in parallel with automation roll-outs.

Governance & Cybersecurity As autonomy and connectivity grow, so does vulnerability. Comprehensive cybersecurity must cover operational tech, control systems, remote links, and third-party integrations.

Recommendation: Integrate OT (operational technology) security with IT strategies; conduct red-team exercises on autonomous system endpoints; align with international standards (e.g., IEC 62443).

Sustainability, Reporting, and Markets With ESG metrics increasingly influencing investment and regulatory outcomes,

mining. IT must support transparent emissions measurement, resource usage reporting, and supply‑chain traceability.

Recommendation: Embed environmental sensors, blockchain-enabled traceability, and automated reporting into core systems to meet investor scrutiny and regulatory expectations.

Strategic Positioning Mining organizations must redefine themselves as tech companies that extract minerals, not the opposite. This requires investment in product-like platforms, subscription models, and digital services that drive recurring value.

Recommendation: Consider M&A or partnerships to acquire software capabilities (e.g., like Weir’s Micromine deal), and shift internal culture from hardware-first to software-enabled service orientation.

Future Horizons: 2030 and Beyond Edge AI & swarms: autonomous robot swarms with embedded AI will coordinate in real time underground, enabling high-precision tasks without human oversight.

Fully virtual operations: many aspects of mining—from exploration to processing—will be simulatable remotely; mastery over digital twins will equal control over physical assets.

Circular ecosystems: integrated platforms will manage commodity flows, recycling, environmental restoration, and community engagement in closed‑loop systems.

Global digital supply chains: collaboration among tech firms, miners, regulators, investors, and electrification stakeholders (like automakers) will define supply chains in software as much as ores.

India: Digital Governance and High-Volume Mining India’s coal and iron ore sectors are undergoing a tech-enabled overhaul as the government pushes for “Digital Mining” standards.

Africa: Leapfrogging via Modular Systems While infrastructure gaps persist, Africa’s mining regions are deploying cloud-native, solar-powered modular control units to sidestep legacy systems.

Kamoa-Kakula in the DRC uses a private LTE network and real-time energy analytics to balance hydropower loads and optimize concentrator performance.

Emerging Solutions: • Mobile dashboards for field-level data collection (esp. artisanal gold and cobalt) • Edge computing units for mineral sorting with AI image recognition in Zambia Challenge: Intermittent connectivity still hampers some of the benefits of real-time AI-but Starlink and other LEO constellations are beginning to address this gap.

Investor, Supplier, and Vendor Dynamics Venture Capital and Strategic Investment

Venture investments into mining-focused AI, analytics, and automation companies exceeded $1.3 billion in 2024, a 70% YoY increase.

Notable deals: • Exyn Technologies, a pioneer in autonomous drone mapping for underground mines, raised $50M Series C. • Seequent (acquired by Bentley Systems) expanded integration with Leapfrog Geo to offer real-time geophysical simulations.

Big Tech's Entry Into Mining • Microsoft is building vertical-specific AI models for geology, mine engineering, and energy optimization.

• Amazon partnered with Vale and Komatsu to pilot autonomous machinery in Brazil, using AWS Edge for the control layer.

• Tesla and Panasonic are funding IT-enabled traceability solutions for battery metals—especially cobalt and nickel—using blockchain and smart contracts.

Mining tech startups are now a significant recipient of climate-tech VC funding.

The Mining Tenement System (MTS) is now the backbone of mineral block auction, lease transfer, and royalty collection.

Operational Highlights: • NTPC and Coal India have rolled out drone-based mine surveys across Jharkhand and Odisha.

• Hindustan Zinc uses AI to optimize concentrate blending in its Chanderiya smelter complex.

Policy Support: India’s new National Mineral Policy mandates adoption of digital mine planning and environmental monitoring tools, aligning with PM Gati Shakti’s infrastructure vision.

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INDONESIA’S BOOM TURNS RISKY

Nickel Prices Are Plunging Why Indonesia’s Mining Boom Faces a Reckoning As global nickel prices collapse, Indonesia’s stateled refinery push now risks overcapacity, ore shortages, and structural imbalances that could erode its market dominance.

lithium iron phosphate (LFP) batteries that don’t rely on nickel. With this pivot, one of nickel’s primary growth drivers is under threat.

Industry voices warn of cascading effects.

Meidy Katrin Lengkey of the Indonesian Nickel Miners Association estimates up to 400,000 tonnes of nickel production could be lost if current trends persist.

Cracks in the Downstream Strategy

A

t the heart of Indonesia’s nickel ambition, Morowali Industrial Park—a symbol of its downstream dream—is showing signs of stress. Silent furnaces and idle workers are now part of a broader retreat, as global nickel prices tumble to their lowest levels in over five years.

What began as a bold plan to dominate battery-grade nickel production now faces a fundamental challenge: too much capacity, too little ore, and a market that may be moving on.

Oversupply Collides with Ore Constraints Since imposing a ban on nickel ore exports in 2020, Indonesia rapidly expanded smelting capacity, building dozens of refineries in a bid to move up the value chain.

In 2024 alone, the country produced 2.2 million tonnes of refined nickel, with

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another 1.5 million tonnes expected to come online.But the same refineries now face a domestic ore shortage.

“What they’ve done is they’ve overexpanded,” said Jim Lennon of Macquarie.

The glut has sent margins tumbling. Major producers, including Huadi Nickel Alloy and Wanxiang Nickel Indonesia, have shuttered lines. Even Tsingshan Holding Group, the sector’s heavyweight, is reportedly operating below capacity.

Rising Costs, Fading Demand Ore prices inside Indonesia have surged as smelters scramble for feedstock. This comes on top of recent royalty increases and mining delays caused by relentless rainfall in key producing regions like Sulawesi.

At the same time, global demand is shifting. Electric vehicle makers, especially in China and India, are favoring cheaper

In a striking reversal, some Indonesian smelters have begun importing nickel ore from the Philippines to keep plants running - contradicting the government’s original self-sufficiency vision. Industry groups are urging regulators to halt new refinery permits until raw material security is guaranteed.

“The government keeps approving smelters without matching mining rights,” said one executive. “This imbalance is unsustainable.”

Officials maintain the downturn is temporary, but analysts warn the correction may be structural, not cyclical.

Indonesia’s nickel gamble transformed the global supply map - but its success is now at risk.

Without aligning raw material supply with downstream capacity and evolving global demand, the very strategy that propelled Indonesia to dominance may force it into a costly consolidation

MINING MEETS TECH

Apple Commits $500M to MP Materials in Bold U.S. Rare Earths Reshoring Play

Strategic Playbook for Resilience

Apple’s $500 million investment in MP Materials marks a strategic pivot to secure rare earths domestically, aiming to insulate its supply chain from geopolitical risk and drive industrial policy alignment.

Apple’s move is being hailed as a blueprint for corporate alignment with national resource policy. “This is about more than diversification,” said Emily Kilcrease of the Center for a New American Security. “Apple is hardwiring resilience into its supply chain.”

I

n a landmark shift toward reshoring critical mineral supply chains, Apple has invested $500 million into MP Materials, the largest U.S. rare earth producer.

The deal strengthens domestic production of rare earth magnets - essential for smartphones and other electronics—and signals Apple’s broader intent to localize its hardware component supply amid mounting global tensions.

Securing the Supply Chain The rare earths used in iPhones, MacBooks, and Apple Watches - particularly in speakers and haptic feedback modules - have long depended on Chinese supply.

Beijing’s recent export restrictions cast a spotlight on the vulnerability of global tech production to mineral chokepoints.

Apple’s investment enables MP Materials to fast-track rare earth magnet production at its Fort Worth, Texas, facility and launch a dedicated recycling hub at its flagship Mountain Pass site in California.

MP Materials Rides Momentum Following the announcement, MP’s stock surged 10%, reflecting investor confidence in its vertically integrated model. From mining and processing to final magnet fabrication, MP is the only U.S. company offering a full-stack rare earth solution.

The investment aligns with MP’s newly expanded partnership with the Department of Defense, which includes price floors to support strategic materials and reduce reliance on overseas suppliers.

"This deal propels MP from a mining story to a critical link in industrial resilience,” said one analyst.

The deal also advances Apple’s environmental agenda. The recycling facility at Mountain Pass will recover rare earths from old devices, closing the loop in one of the tech sector’s most opaque supply streams. As multinationals reevaluate their exposure to geopolitical risk, Apple’s rare earths investment sets a precedent.

With Toyota and Siemens also reshoring rare earth production, the landscape is shifting from low-cost outsourcing to strategic sourcing. Apple’s $500 million bet may soon be seen not just as tech industry foresight—but as a critical lever in America’s industrial reset.

“THIS DEAL PROPELS MP FROM A MINING STORY TO A critical link in industrial resilience,” said one analyst.

Both facilities are expected to be operational by year’s end, with Apple planning to source U.S.-made magnets for its devices starting in 2025.

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RECYCLING GAINS PRIORITY

Rare Earth Recycling Becomes Strategic Imperative for U.S. Supply Chain Resilience With rare earth supply chains under strain, the U.S. is turning to recycling tapping e-waste to reduce dependence on China and strengthen industrial security.

A

t a time when rare earth magnets power everything from fighter jets to smartphones, the U.S. finds itself in a precarious position—almost entirely dependent on China for critical mineral processing. In response, policymakers and private industry are accelerating an alternative solution: rare earth recycling.

Triggered by Beijing’s recent export curbs, the Department of Defense’s equity investment in MP Materials underscored Washington’s urgency. But even as domestic mining expands, a new consensus is emerging: reclaiming rare earths from discarded electronics is no longer an environmental option—it’s a strategic necessity.

China’s Chokehold Forces Supply Chain Rethink China refines over 90% of the world’s rare earths. When it restricted exports of seven key elements earlier this year, U.S. automakers faced magnet shortages that temporarily stalled production lines. Though shipments resumed, the message was clear: the rare earth supply chain is a geopolitical risk.

The U.S. has responded with defense-led investments and Biden-era grants to expand processing at the Mountain Pass mine in California. Still, the pace of mining development— often spanning decades—can’t keep up with supply threats.

Rare earth recycling is increasingly seen as the missing piece in America’s critical minerals strategy.

EVEN AS DOMESTIC MINING expands, a new consensus is emerging: reclaiming rare earths from discarded electronics is no longer an environmental option - it’s a strategic necessity.

Urban Mines, Strategic Potential The U.S. generated roughly 7.8 million metric tons of electronic waste in 2022, yet less than 20% of it was recycled. These discarded phones, servers, and electric motors contain rare earths like neodymium, dysprosium, and terbium—elements essential to clean energy, computing, and defense systems.

Industry leaders are waking up to this overlooked supply.

Glencore, a major commodity player, now sources 15% of the feedstock for its Canadian copper smelter from recycled materials. Meanwhile, startups like Cyclic Materials and Illumynt are developing extraction techniques to recover rare earths from old hard drives and electric motors.

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Cyclic Materials is investing $20 million into a new facility in Arizona, with backing from Glencore. German recyclers such as Aurubis and Wieland are also building operations in the U.S., seeking to capitalize on rising demand and shifting policy.

The Battery Angle and Volatility Risk Recycling isn't limited to electronics. Lithium-ion batteries - found in EVs, phones, and power tools - represent another high-value waste stream. Companies like Redwood Materials and Cirba Solutions are scaling up to recover lithium, nickel, and cobalt, reinforcing the link between electrification, decarbonization, and national security.

Yet the space remains fragile. Battery recycler Li-Cycle, once considered a rising star, filed for bankruptcy in May. Glencore, its largest backer, has since bid to acquire its New York plant. The collapse highlights the capital-intensive nature and operational risk of new recycling ventures.

Policy Levers and Investment Fragility Much of the sector’s momentum relies on favorable policy, including the 45X production tax credit. But budget cuts in Congress now threaten that support.

Without it, some recycling firms may struggle to remain viable.

“Don’t build a business on the back of one tax credit,” warned Kunal Sinha, Glencore’s global head of recycling. “The structural trend is there—but volatility will test your model.”

Despite policy uncertainty, the long-term outlook is bullish. Wood Mackenzie projects that recycled copper will account for 45% of global supply by 2050, with similar gains forecast for nickel and cobalt. Rare earth recycling is now viewed not only as an environmental win, but as an industrial imperative.

The shift toward rare earth recycling represents a redefinition of waste—one that positions old electronics and batteries as national assets. For the U.S., reclaiming these materials is no longer just about sustainability.

It’s about resilience, security, and anchoring the future of its critical mineral supply chain in domestic hands.

“We’ve been throwing away the strategic materials we now desperately need,” Sinha said. “That era is ending.”

Red Mountain Launches High-Grade Gold Exploration in Ontario

R

ed Mountain Mining (ASX: RMX) has initiated a highgrade gold exploration campaign at its Flicka Lake claim in Ontario’s Superior Province. The 2025 program focuses on channel sampling three known gold-bearing quartz veins, where previous assays returned standout grades up to 24.2 grams per tonne gold (g/t Au) and 2,420 parts per million copper (ppm Cu).

The Fry Lake Gold-Copper Project lies within the Meen-Dempster Greenstone Belt, a geological setting renowned for Archaean orogenic gold systems. The company’s systematic approach includes detailed sampling along mapped shear zones and the deployment of four soil sampling grids over areas that produced strong geochemical anomalies in 2024.

Notably, the North Grid yielded soil samples of 17.8 g/t Au and 1,630 ppm Cu, suggesting potential for both vein-hosted gold and polymetallic mineralization. In a strategic move to minimize shareholder dilution, Red Mountain has partnered with Fladgate Exploration Consulting, which has agreed to accept RMX shares as payment for services up to CAD $60,000.

The company has also applied for up to CAD $120,000 in reimbursements under Ontario’s Junior Exploration Program, potentially covering all current exploration costs without a net cash outlay. The project is situated in a proven Tier-1 jurisdiction and benefits from strong infrastructure and regulatory support.

With a dual focus on high-grade gold veins and copper-rich VMS-style systems, Red Mountain’s Fry Lake project offers multiple discovery pathways. Early indicators suggest a strong alignment with historically productive Archaean systems known for depth and grade continuity.

As sampling results emerge, the company is poised for a potential inflection point. For investors seeking exposure to high-grade gold in a stable jurisdiction, Red Mountain’s methodical, cost-efficient approach sets the stage for value-generating discoveries in the months ahead.

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INDIA STEEL SECTOR OUTLOOK 2025

Profit Boom Rides on Domestic Demand Strength S&P forecasts a 40% jump in Ebitda as Indian steelmakers thrive on homegrown demand and trade barriers, outpacing global peers under pressure.

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ndia’s steel sector is heading into 2025 with bullish momentum. Unlike global peers grappling with weakening demand and trade volatility, Indian producers are poised to deliver record profitability.

S&P Global Ratings projects a 40% surge in industry-wide Ebitda for FY26, driven by resilient domestic consumption and government safeguards against cheap imports.

With only 6% of India’s steel output exported—and just 3% to the United States—domestic dynamics remain the sector’s core strength.

Tata Steel Leads the Charge Tata Steel, the country’s largest producer, expects its Ebitda to jump 45% to ₹380 billion in FY26, boosted by higher utilization at its Indian plants and steady progress in its green steel initiatives in Europe.

WE REMAIN confident that the transition to green steel making in the U.K. and the Netherlands will happen as per schedule,” said Chairman N. Chandrasekaran.

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Skillings.net | August 2025

“We remain confident that the transition to green steel making in the U.K. and the Netherlands will happen as per schedule,” said Chairman N. Chandrasekaran.

Tata’s funds-from-operations-to-debt ratio is expected to nearly double, signaling stronger financial health as it expands capacity.

Domestic Pricing Power and Policy Shield From February to June, domestic hot rolled coil (HRC) prices rose 7.6%, in sharp contrast to China’s 5% decline. A 12% safeguard duty on imports, enacted in April, protected Indian mills from international price compression. S&P estimates Indian steel prices would be $60 per ton lower without it.

Coking coal prices also fell 7% during the same period, providing additional cost relief and propping up profit margins across the board.

Outlook and Risks Despite strong fundamentals, S&P cautions that the November expiry of the safeguard duty could expose local producers to underpriced imports. A deeper correction in Chinese steel prices also presents downside risk.

Still, the sector’s balance sheets appear fortified. Industry-wide debt-to-Ebitda ratios are forecast to improve from 3.0x in FY25 to 2.4x in FY26, reducing vulnerability to short-term price shocks.

A Global Outlier While Indian mills post strong margins, European and U.S. producers face cost inflation tied to decarbonization mandates and policy uncertainty. The EU’s carbon border adjustment and persistent U.S. tariffs have weighed heavily on profitability.

In contrast, India’s steelmakers enjoy a rare alignment: rising domestic demand, stable input costs, and protective trade policy. It’s a combination that could keep them ahead in a global market still searching for stability.

COAL’S COMEBACK BID

Trump Coal Tax Credit Sparks $300M Export Boost, Renewing Debate Over Energy Policy A NEW TAX CREDIT FOR METALLURGICAL COAL - TUCKED INTO Trump-era legislation - could channel $300 million to U.S. producers, chiefly benefiting exports to China and reigniting climate policy concerns.

T

he Trump administration’s latest tax legislation has revived coal industry hopes with a provision that could funnel $300 million in subsidies to metallurgical coal producers over the next decade.

Designed as part of a broader advanced manufacturing tax credit, the measure extends benefits typically reserved for defense-critical or clean-tech materials to steelmaking coal—an industry facing volatile prices and rising inflation.

The move marks a strategic pivot for coal policy, with direct implications for export dynamics, domestic employment, and U.S. climate credibility.

Critical Mineral Classification Opens Door The credit was made possible after metallurgical coal was designated a “critical mineral” by Trump’s Energy Secretary earlier this year.

This classification—normally reserved for rare earths and battery metals—unlocked eligibility for a 2.5% production tax credit under the new bill.

“Providing incentives to spur steel-making coal production accomplishes each of those objectives,” said Conor Bernstein of the National Mining Association. The bill, he said, aligns with job creation and industrial resilience.

Export-Oriented Relief Raises Climate Alarms Analysts estimate the bulk of the benefit will accrue to exporters, particularly those shipping to China. With demand rising for construction-grade steel, U.S. met coal remains a sought-after input overseas. However, critics argue that the taxpayer-backed subsidy will inadvertently bolster Chinese emissions.

“This would send hundreds of millions of taxpayer dollars to China to subsidize dirty steel,” said Sonia Aggarwal, CEO of Energy Innovation.

Economic Relief vs Environmental Backlash For producers in states like West Virginia, where inflation and labor costs have triggered layoffs, the tax credit is a lifeline. Ben Beakes of the West Virginia Metallurgical Coal Producers Associa-

tion said the support helps offset rising transport and equipment costs. But the move has drawn criticism from energy policy experts.

“There’s no clear economic justification for treating metallurgical coal the same as rare earth elements,” said Sheila Olmstead of Resources for the Future.

Others warn it could undermine efforts to scale up cleaner steel technologies, such as hydrogen-based or electric-arc furnaces.

Political Lifeline or Strategic Misstep?

While industry groups celebrate the Trump coal tax credit as overdue recognition, environmental advocates see it as a regression. The designation grants future emergency powers to expand coal output—raising concerns over long-term energy direction.

With the bill now in legislative conference, its final fate may determine not only the future of U.S. coal exports but also how the nation reconciles industrial strategy with climate commitments.

39

AUSTRALIA GAINS SPOTLIGHT

Heavy Rare Earths Shifts to South Australia Uranium Exploration Heavy Rare Earths has pivoted to uranium exploration in South Australia, acquiring three strategic projects near major producers. The move is designed to attract acquisition interest if drilling delivers results.

I

n a decisive strategic turnaround, Heavy Rare Earths—once focused on Western Australian rare earths— has repositioned itself around uranium exploration in South Australia. Facing funding constraints in its previous niche, the ASX-listed junior has secured three tenements contiguous to operating mines run by industry leaders. With uranium prices near decade highs and corporate appetite rising, the company aims to validate its assets via drilling and become an acquisition target.

Strategic Acquisitions in a Uranium Heartland Heavy Rare Earths’ new portfolio includes Radium Hill, Lake Namba–Billeroo, and Prospect Hill—all located within the prolific Curnamona Province. Radium Hill, historically Australia’s first uranium-only mine, produced 2.6 million pounds of uranium oxide from 1954 to 1961. Recent sampling at the site identified high-grade scandium and rare earth mineralization, adding optionality beyond uranium.

Lake Namba–Billeroo and Prospect Hill, though greenfield, lie within well-defined paleochannel systems yet remain untested by drilling. The company intends

40

Skillings.net | August 2025

to rapidly commission rigs and unlock this upside through exploration over the second half of 2025.

Proximity to Production: A Catalyst for M&A South Australia hosts the bulk of the country’s uranium—about 80% of domestic resources and nearly a quarter of global supply.

Heavy Rare Earths’ projects sit in close proximity to operating mines: Radium Hill neighbors Heathgate Resources’ Beverly/Four Mile ISR operations, and Honeymoon mine—owned by Boss Energy—is within earshot.

Boss Energy recently reported 328,000 pounds of uranium oxide production in the June quarter, meeting its FY 2025 target, while Heathgate is expanding capacity.

In this context, Heavy Rare Earths’ landholdings offer compelling bolt-on potential. The company’s leadership has made no secret of its M&A intent: strong drill results should trig-

ger interest among established players looking to secure feedstock.

Building an Exploration Pipeline Since acquisition, Heavy Earths has conducted airborne magnetic, radiometric, and passive seismic surveys to refine its prospect ranking.

Rare

Combining new data with existing geological maps, the team is preparing a prioritized list of targets for drilling later in the year. The goal is to move quickly from geophysics to concrete assay results.

At the same time, the company is engaging with Native Title groups and local landholders to finalize access agreements and obtain heritage clearances—critical prerequisites for fieldwork to begin.

Risks and Value Proposition Early-stage uranium exploration carries significant risk: none of Heavy Rare Earths’ new projects have been drilled, meaning structural continuity and grade remain unproven. Success will hinge on confirming mineralized systems comparable to nearby ISR producers.

Yet the value proposition is clear. In one of the world’s most uranium-rich jurisdictions, with global demand growing, and with large producers seeking acquisition opportunities, Heavy Rare Earths offers a pure exploration play with a clear strategic path. As noted by consultants in Adelaide, it's rare to find such tightly positioned assets in Australia’s uranium heartland.

Heavy Rare Earths’ strategic pivot to uranium exploration in South Australia is about ambition as much as geology. With high-value tenements near operating mines, a clear exploration plan, and an expressed goal of attracting industry buyers, the company is positioning itself for transformation.

Success in its upcoming drilling program could catapult it into acquisition radar—and place it at the center of the uranium consolidation narrative.

P

Illegal Gold Mining in Amazon Exposed by Massive Mercury Smuggling Bust

eruvian authorities have intercepted four metric tons of mercury hidden in gravel sacks at the port of Callao—one of the largest seizures in recent history.

The toxic shipment, meant for illegal gold mining operations in the Amazon, underscores a sophisticated transnational smuggling network that has trafficked 200 metric tons of mercury over six years, enough to produce an estimated $8 billion in illicit gold.

The mercury originated in Querétaro, Mexico, where cartel-linked mines, including some in protected UNESCO reserves, have ramped up production. Traffickers disguised the shipments as decorative stone, using falsified invoices and routing them through Mexico’s Manzanillo port, the U.S. port of Houston, and on to South America. Authorities allege Juan José Zamorano Davila, a trader tied to the Jalisco New Generation Cartel, orchestrated the operation.

With gold prices soaring above $3,000 per ounce, mercury has become a commodity in its own right, fetching $330 per kilogram. It is widely used in artisanal mining to extract gold from sediment but has catastrophic environmental and health consequences. Mercury levels in Madre de Dios, the epicenter of illegal gold mining in Peru, exceed World Health Organization safety thresholds by more than fivefold.

Indigenous leaders, such as Julio Cusurichi, warn that mercury contamination is now pervasive, affecting rivers, fish, and human health across the region. The Environmental Investigation Agency (EIA), which partnered with SUNAT in uncovering the scheme, criticized the long-standing complacency toward mercury trafficking. Despite international conventions like Minamata prohibiting the trade, enforcement gaps persist. Investigators highlight weak inspections at transshipment points and the global market’s continued demand for untraceable gold as enabling factors.

The case has triggered calls for stronger oversight, transparency in gold markets, and coordinated international enforcement to stop mercury-fueled destruction of the Amazon.

41

CRITICAL SHORTFALL

Pentagon Rare Earths Deal Sparks Rally in Australian Miners and Reconfigures Global Supply Strategy A Pentagon equity deal with MP Materials, backed by a $110/kg price floor for key rare earths, has sent Lynas and Iluka shares soaring - marking a turning point in U.S. - Australia supply chain collaboration and playing to investor confidence in ex‑China supply.

A

n unprecedented partnership between the U.S. Department of Defense and MP Materials has unleashed a seismic shift across global critical minerals markets. The U.S. government is purchasing a 15% stake in MP Materials, guaranteeing a 10‑year price floor of US $110 per kilogram for neodymium-praseodymium oxide—nearly double current Chinese prices.

The move has powered a market rally in Australia, where Lynas Rare Earths and Iluka Resources led gains on the ASX 200, signaling renewed confidence in rare earth supply diversification outside China.

Price Certainty, Shareholder Surge The DoD’s multi-billion-dollar commitment includes US $400 million in convertible preferred stock and a US $150 million facility expansion loan—complemented by financing from JPMorgan and Goldman Sachs.

This deal establishes pricing clarity, derisking MP’s magnet strategy and enabling long-term capital planning. MP’s stock soared over 50% on the announcement, while Lynas and Iluka surged 20% and 27% respectively—the latter recording its largest one-day gain ever.

42

Skillings.net | August 2025

Both Lynas and Iluka have long been seen as Western rare earth pillars outside of China.

company’s near-term outlook. Jefferies upgraded Lynas to "Buy" and bumped its price target to A$10. Iluka, meanwhile, is developing a refinery in Western Australia positioned to support a U.S.-Australia mineral framework.

Lynas CEO Amanda Lacaze called the U.S. government move a signal that prices will remain elevated, supporting her

The rally affirms Australia’s strategic importance in reshaped global supply chains. The Pentagon’s rare-earth deal

Australia Reclaims Strategic Spotlight

Endeavour, two other gold producers sign on to Mali’s new mining code London-listed Endeavour Mining (EDV.L), opens new tab and two other gold producers have agreed to migrate to Mali’s new mining code, government officials said.

with MP Materials marks a pivotal step in reshaping the rare earth magnet landscape.

around ex-China supply chains, the deal offers a new roadmap for industrial and geopolitical strategy.

With pricing certainty and equity backing, MP Materials becomes a cornerstone of U.S. supply resilience - and primes Australia’s Lynas and Iluka as major beneficiaries. As global markets recalibrate

For Australia and its mining sector, this moment defines alignment: elevated valuations, renewed deal flow, and reinforced relevance on the global critical minerals stage.

Strategic Implications of the Pentagon Deal Market Support Architecture: The $110/kg price floor for NdPr oxide sends a structural signal— supporting rare earth magnet independence and incentivizing supply from Western operations.

Investment Leverage: With guaranteed pricing and federal funding, MP Materials gains the financial backing to build a 10,000-ton magnet facility by 2028.

Western Supply Doctrine: The agreement marks a move beyond minimal market support to strategic underwriting of an ex-China supply ecosystem.

Execution and Structural Risks While the sentiment is strong, mid-cap ex-China producers face challenges: High capital intensity: Magnet processing and separation plants require substantial capex and technical skill.

Timeline uncertainty: Even with government underwriting, permit and construction delays could stretch trajectories.

Contractual rigidity: Lynas may lack pricing flexibility due to existing binding contracts with longterm buyers like Sojitz, limiting upside from the new price regime.

The code, which raises taxes and seeks to hand over big stakes in mining assets to the state, sparked bitter disputes with mining companies after it was implemented in August 2023, helping drive Mali's gold output down 23% last year to 51 metric tons. Finance Minister Alousseni Sanou and the Minister of Mines announced the new memorandum of understanding with Somika SA - which is 80%-owned by Endeavour and 20% by the Malian state - Faboula Gold and Bagama Mining on state television late Monday.

No terms of the deals were disclosed.

The three companies account for only a fraction of Mali's gold output, with Faboula and Bagama launching output in 2021 with 500 kg each and the Kalana project operated by Somika yet to start production.

All three have been largely inactive since the mining code was adopted.

Somika director Abdoul Aziz said construction of the company's mine "will begin six months after the signing of the agreement, and production will start 18 months later". "Somika has a lifespan of 10 years and a turnover of 135 billion CFA francs ($238.9 million) annually.

Bagama and Faboula each have five-year lifespans with turnovers of 50 billion and 75 billion CFA francs,” Sanou said, adding that each company is expected to create around 2,000 jobs.

43

CHINA TIGHTENS OVERSIGHT

Zangge Lithium Halt Shakes Global Markets A sudden production suspension at Zangge Mining’s lithium facility in Qinghai province has jolted global metals markets, underscoring China’s intensifying environmental enforcement across critical minerals.

The exact compliance breach was not disclosed. However, analysts point to Qinghai’s ongoing scrutiny of water usage, brine discharge, and permitting irregularities. This marks the second major enforcement move against brine operations in recent months.

“The message is clear,” said Dr. Huang Xia of Peking University. “Even flagship firms aren’t exempt from green mandates.”

Ripple Effects Across EV Supply Chains Though Zangge’s output represents a fraction of global supply, the symbolic weight is significant.

China accounts for about 75% of global lithium production. Any disruption— however localized—raises alarms for battery manufacturers and automakers dependent on brine feedstock.

The halt exposes a growing dilemma: how to balance aggressive decarbonization goals with the environmental costs of extracting clean energy materials.

Unexpected Disruption in China’s Lithium Heartland Zangge Mining’s lithium production halt has sent tremors through global commodity markets. Local authorities in Qinghai issued an immediate suspension notice, citing undisclosed compliance violations.

44

“This wasn’t on anyone’s radar,” said Yan Li of Benchmark Mineral Intelligence.

“Beijing is willing to tolerate near-term disruption to enforce long-term discipline.”

Strategic Site, Regulatory Target

The facility, pivotal to China’s brine-based lithium extraction, was forecast to deliver 11,000 metric tons of lithium carbonate this year.

Zangge, majority-owned by state-linked Zijin Mining, operates in the Haixi salt lake region—a crucial node in China’s domestic lithium supply.

Within hours, lithium carbonate futures on the Guangzhou exchange surged over 4%, reflecting market anxiety about supply instability and Beijing’s deepening regulatory posture.

The site produced over 5,000 tons of lithium carbonate in the first half of 2025.

Now, with no resumption date offered, partners and buyers face growing uncertainty.

Skillings.net | August 2025

“Geopolitics, regulation, and green policy are converging in the supply chain,” said Isabella Greene of CRU Group.

A Test Case for China’s Green Mining Doctrine Zangge’s shutdown may be a harbinger. With recent enforcement actions in rare earths and graphite, analysts expect broader regulatory crackdowns and possibly a new wave of public compliance benchmarks.

For now, the Zangge lithium production halt serves as a stress test—both for China’s ambitions in green materials and for an industry facing tighter environmental scrutiny in a geopolitically volatile landscape.

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45

SKILLINGS MINING REVIEW STASTISTICS

JUNE 2025 CRUDE STEEL PRODUCTION

W

orld crude steel production for the 70 countries reporting to the World Steel Association (worldsteel) was 151.4 million tonnes (Mt) in June 2025, a 5.8% decrease compared to June 2024.

Africa produced 1.7 Mt in June 2025, up 3.0% on June 2024. Asia and Oceania produced 112.9 Mt, down 6.2%. The EU (27) produced 10.4 Mt, down 8.2%.

Europe, Other produced 3.3 Mt, down 8.4%. The Middle East produced 4.3 Mt, down 4.9%. North America produced 8.7 Mt, up 1.2%. Russia & other CIS + Ukraine produced 6.7 Mt, down 8.8%.

South America produced 3.5 Mt, up 1.3%. The 70 countries included in this table accounted for approximately 98% of total world crude steel production in 2024. Regions and countries covered by the table: Africa, Asia and Oceania, European Union (27), Europe,other, Middle East, North America, Russia & other CIS + Ukraine, South America.

Top 10 steel-producing countries China produced 83.2 Mt in June 2025, down 9.2% on June 2024. India produced 13.6 Mt, up 13.3%. Japan produced 6.7 Mt, down 4.4%. The United States produced 6.9 Mt, up 4.6%. Russia is estimated to have produced 5.6 Mt, down 7.4%.

Table 1. Crude steel production by region

South Korea produced 5.0 Mt, down 1.8%.

Türkiye produced 2.9 Mt, down 3.5%.

Germany produced 2.7 Mt, down 15.9%.

Brazil produced 2.8 Mt, down -0.5%. Iran is estimated to have produced 2.2 Mt, down 15.5%.

Table 2. Top 10 steel-producing countries

jun % change jan-jun % change jan-jun 2025(mt) jun 25/24 2025 (mt) 25/24

jun 2025 (mt)

% change jun25/24

jan-jun 25 (mt)

% change jan-jun 25/24

1.7

3.0

11.4

4.1

China

83.2

-9.2

514.8

-3.0

Asia and Oceania

112.9

-6.2

693.9

-1.9

India

13.6

13.3

80.9

9.2

EU (27)

10.4

-8.2

65.4

-3.3

Japan

6.7

-4.4

40.6

-5.0

Europe, Other

3.3

-8.4

20.8

-7.1

United States

6.9

Russia

5.6

Africa

Middle East

4.3

-4.9

27.5

-5.4

North America

8.7

1.2

53.2

-0.6

Russia &CIS + Ukraine

6.7

-8.8

41.6

-5.4

South America

3.5

1.3

20.5

-0.4

151.4

-5.8

934.3

-2.2

Total 70 countries

e

4.6

40.2

0.8

-7.4

34.8

-5.6

South Korea

5.0

-1.8

30.6

-2.8

Türkiye

2.9

-3.5

18.3

-1.7

Germany

2.7

-15.9

17.1

-11.6

Brazil

2.8

-0.5

16.5

0.5

Iran

2.2

-15.5

15.6

-10.3

e

The 69 countries included in this table accounted for approximately 98% of total world crude steel production in 2024.e:Africa: Egypt, Libya, South Africa, Tunisia Asia and Oceania: Australia, China, India, Japan, Mongolia, New Zealand, Pakistan, South Korea, Taiwan (China), Thailand, Viet Nam,European Union (27),Europe, Other: Macedonia, Norway, Serbia, Türkiye, United Kingdom,Middle East: Iran, Qatar, Saudi Arabia, United Arab Emirates,North America: Canada, Cuba, El Salvador, Guatemala, Mexico, United States,Russia & other CIS + Ukraine: Belarus, Kazakhstan, Russia, Ukraine,South America: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, Venezuela

46

Skillings.net | August 2025

2024 GLOBAL CRUDE STEEL PRODUCTION TOTALS TOTAL WORLD CRUDE STEEL PRODUCTION WAS 1,882.6 MT IN 2024.

Source – World Steel Association Rank Country

2024

2023

% 2024/ 2023

Rank Country

2024

2023

% 2024/ 2023

1

China

1 005.1

1 022.5

-1.7

22

Ukraine

7.6

6.2

21.6

2

India

149.6

140.8

6.3

23

Austria

7.1

7.1

0.0

3

Japan

84.0

87.0

-3.4

24

Belgium (e)

7.1

5.9

21.1

4

United States

79.5

81.4

-2.4

25

Poland (e)

7.1

6.4

10.1

5

Russia (e)

70.7

76.0

-7.0

26

Netherlands

6.4

4.7

36.1

6

South Korea

63.5

66.7

-4.7

27

Thailand (e)

4.9

5.0

-1.0

7

Germany

37.2

35.4

5.2

28

Australia

4.8

5.5

-11.9

8

Türkiye

36.9

33.7

9.4

29

South Africa

4.7

5.0

-4.8

9

Brazil

33.7

32.0

5.3

30

Algeria

4.5

4.4

2.2

10

Iran

31.0

30.7

0.8

31

Bangladesh (e)

4.5

5.0

-10.0

11

Viet Nam (e)

22.1

19.2

14.9

32

Kazakhstan

4.2

3.9

6.5

12

Italy

20.0

21.1

-5.0

33

Pakistan (e)

4.1

5.3

-23.2

13

Taiwan, China (e)

19.1

19.1

-0.3

34

Sweden

4.0

4.3

-5.5

14

Indonesia (e)

17.0

16.8

0.9

35

United Kingdom

4.0

5.6

-29.0

15

Mexico (e)

13.7

16.4

-16.5

36

Slovakia

3.9

4.4

-11.7

16

Canada (e)

12.2

12.2

0.1

37

Argentina

3.9

4.9

-21.6

17

Spain

11.8

11.4

3.3

38

United Arab Emirates

3.7

3.8

-1.4

18

France

10.8

10.0

7.6

39

Finland

3.7

3.8

-3.8

19

Egypt

10.7

10.4

3.6

40

Oman

3.0

2.9

4.5

20

Saudi Arabia

9.6

9.9

-3.4

Others

42.5

43.6

-2.5

21

Malaysia (e)

8.8

7.5

16.9

World

1 882.6

1 897.9

- 0.8

e – annual figure estimated using partial data or non-worldsteel resources. * The world total production figure in this table includes estimates of other countries that only report annually.

Tata Steel Partners with Australia’s InQuik to Bring Modular Bridge Technology to India

T

ata Steel, today, signed a Memorandum of Understanding (MoU) with Australia’s InQuik Group to bring its award-winning modular bridge construction technology to India. By uniting InQuik’s technology with Tata Steel’s industrial strength, this partnership sets

the stage for a new era in India’s infrastructure development and addresses the evolving needs of its communities.

For Tata Steel, this agreement represents an opportunity to expand its steel offerings into high-value infrastructure products. By incorporating InQuik’s mod-

ular construction solution, Tata Steel will diversify its product portfolio with value-added infrastructure offerings that align with its strategic vision of shaping the construction industry.

47