Mining Engineering’s Weekly Rundown: Episode 5

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, Perpetua Resources has reached a major milestone in Idaho with the U.S. Army Corps of Engineers issuing its final federal permit for the Stibnite Gold Project. This Clean Water Act Section 404 permit concludes eight years of federal review and clears the way for construction to begin, pending state-level permits and financing. Stibnite is set to be a top-tier open-pit gold operation, expected to produce 450,000 ounces annually in its early years. But the project’s broader significance lies in its estimated 148-million-pound reserve of antimony, a critical mineral for defense and energy, now in demand after China cut off exports in December 2024. 

Secondly, in Argentina, Rio Tinto has secured government approval for its $2.5 billion Rincon lithium project under the country’s new RIGI investment program. This marks the first approval granted under the regime, despite a backlog of applications and growing pressure from industry. Additionally, in Chile, state copper company Codelco has entered a new partnership with Rio Tinto to jointly develop the Maricunga lithium project. The deal gives Rio Tinto a 49.99 percent stake and could see up to $900 million invested into one of Chile’s most promising undeveloped lithium projects. The joint venture marks a rare private-sector entry into Chile’s tightly controlled lithium industry and signals the government’s intent to modernize its approach. 

Finally, the U.S.-based Global Energy Monitor has found that coal-powered blast furnace capacity is actually rising, with over 300 million metric tons of new capacity under development, mainly in India and China. This trajectory threatens global climate targets, as steel currently accounts for 11 percent of global greenhouse gas emissions. While electric arc furnace technology, a cleaner alternative, is expected to grow 24 percent by 2030, blast furnaces will still dominate, making up 64 percent of production. India alone is responsible for over half of the new coal-based capacity and is now considered a bellwether for global steel decarbonization. Without more aggressive shifts to low-emission technologies, the sector risks falling far short of the International Energy Agency’s roadmap for industrial emissions reduction.

For full details on these stories and more, visit our online magazine at me.smetnet.org