Mining Engineering’s Weekly Rundown: Episode 18

First up, The U.S. Geological Survey, released the draft 2025 List of Critical Minerals and a report that outlines a new model for assessing how potential supply chain disruptions could affect the U.S. economy. The updated list includes 54 mineral commodities, with copper, silver, potash, silicon, rhenium and lead being added to the list. The addition of copper is welcome news for companies such as NewRange Copper and Nickel which is working to get its NorthMet mine in Minnesota into production. The Draft List of Critical Minerals is open for a 30-day comment period. The inclusion of these minerals highlights their essential role in America’s economy, national security, and transition to advanced energy technologies. Inclusion of copper on the list could help ease permitting challenges for NewRange and others while also potentially increasing opportunities for federal funding.

Next, Rio Tinto announced a new operating model and executive team to shape the company’s next chapter. The changes simplify and streamline the organization to drive greater accountability and safe, sustainable, profitable growth through focusing on the most compelling opportunities to deliver long-term shareholder value. The company will be structured into three operating units: Iron Ore; Aluminum and Lithium; and Copper. It is the first major development for the company under the leadership of new chief executive Simon Trott. “A simplified business structure, grounded in our fundamental commitment to safety and with sharper focus on the most compelling opportunities we have, will enable us to deliver new standards of operational excellence and value creation. It will bring greater accountability and focus to our teams, underpinned by a more disciplined approach to operational performance and capital investment,” said Trott

Finally, U.S. miner M P Materials stopped shipping raw materials exports to China in April. The move has sent prices of two rare earth elements soaring. MP’s shipments had in the past three years fed 7 to 9 percent of China’s oxide production from mine output of rare earths neodymium and praseodymium (NdPr) which is vital to magnets that power electric vehicles, wind turbines and defense equipment. Earlier this year, the U.S. government announced a ground-breaking deal with MP last month stipulating the company halt shipments to China. It also offered price support to MP for the NdPr it produces based on $110 per kg, at the time about twice the Chinese price.

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