Mining Engineering’s Weekly Rundown: Episode 23

First, the U.S. government has taken 5 percent stakes in Lithium Americas and its Thacker Pass joint venture with General Motors, marking an unusual equity move to strengthen domestic supply of critical minerals. The deal accompanies a $2.26 billion federal loan that will help bring the Nevada project into production by 2028. Thacker Pass is set to become the largest lithium source in the Western Hemisphere, producing enough battery-quality material to power up to 800,000 electric vehicles each year. With GM already holding a 38 percent stake, Washington’s involvement reflects a broader strategy to reduce reliance on China, which processes more than 75 percent of the world’s lithium.

Next, Perpetua Resources is moving forward with its antimony and gold project in Idaho and has opened talks with Glencore, Trafigura, Clarios and Sunshine Silver to establish a U.S.-based refining partnership. The mine, which recently received government approval to begin construction, holds 148 million pounds of antimony and six million ounces of gold. Antimony is a critical mineral used in defense, renewable energy and electronics, yet there are no current U.S. sources. While Perpetua plans to extract the metal, it will rely on a partner for refining, with a decision expected by the end of the year. 

Additionally, the Trump administration is preparing to auction coal leases in Alabama, Utah, Montana and Wyoming, a key test of its push to revive the struggling coal industry. These will be the first sales since Trump lowered royalty rates to seven percent and pledged greater access to federal land for mining. U.S. coal output has fallen 40 percent over the past decade, pressured by competition from natural gas and renewables. Still, industry groups argue rising electricity demand, including new strain from artificial intelligence, could make coal more competitive. 

Finally, in a leadership shake-up at two of the world’s largest gold miners, Barrick Mining announced the resignation of long-serving CEO Mark Bristow, appointing Mark Hill as interim chief while it searches for a permanent replacement. Bristow’s surprise exit comes after nearly seven years leading Barrick through its Randgold merger and debt restructuring, and it raises questions about the company’s strategic direction. Meanwhile, rival Newmont confirmed that Tom Palmer will step down at the end of the year, with Natascha Viljoen set to become its first female CEO. The twin departures highlight a wave of executive turnover across the sector as investors push for stronger growth and higher returns.

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