Mining Engineering’s Weekly Rundown: Episode 11
Welcome to Mining Engineering’s Weekly Rundown, where we break down the latest news shaping the mining industry. As usual, we’re diving into a few major headlines that are striking the sector.
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First off, MP Materials has unveiled a sweeping public-private partnership with the U.S. Department of Defense in a landmark move to secure America’s rare earth magnet supply chain. Backed by more than a billion dollars in financing and long-term government support, the company will build a new “10X Facility”, its second magnet manufacturing plant, expected to begin commissioning in 2028. This facility, paired with expanded heavy rare earth separation capabilities at Mountain Pass, will help the U.S. dramatically reduce its dependence on foreign magnet supply. The partnership includes equity investments, loans, and a 10-year price floor and offtake agreement, positioning the DoD as MP Materials’ largest shareholder.
Next, in Tennessee, the Trump administration has granted an expedited permit for a proposed coal mine on Bryson Mountain in Claiborne County. The Hurricane Creek Mining project was fast-tracked under a new 28-day emergency permitting process designed to speed up energy-related reviews. The mine, which will produce up to 1.8 million tons of coal over the next decade, sits on previously mined land and reflects President Trump’s broader push to boost U.S. coal production. Federal officials also opened a public comment period this week on reopening coal leasing in Montana and Wyoming’s Powder River Basin, areas previously restricted under the Biden administration.
Finally, copper traders are racing against the clock. A newly announced 50 percent tariff on imported copper, set to take effect August 1, has triggered a final scramble to ship metal into the U.S. before the deadline. Copper futures jumped over 12 percent on the news, hitting record highs. The tariff is aimed at revitalizing domestic copper production, but with the industry years away from scaling up, the short-term impact is a surge in imports, particularly from Latin America. Analysts warn this rush could create temporary shortages in non-U.S. markets, followed by a sharp drop in U.S. imports once the tariffs hit and stockpiles are worked through. Markets are watching closely to see if the administration will grant any exemptions, including for copper scrap.
For full details on these stories and more, visit our online magazine at me.smenet.org
