Mining Engineering’s Weekly Rundown: Episode 36

First, the Trump administration is pressing ahead with plans to accelerate deep-sea mining in international waters. A newly finalized rule from the National Oceanic and Atmospheric Administration will streamline permitting for companies seeking to mine critical minerals on the seabed to create a single, faster review. The initiative follows an executive order signed by President Donald Trump aimed at countering China’s dominance over global supplies of metals like nickel, cobalt and copper, which are key components for electric vehicles and electronics. While backers say deep-sea mining could reduce the need for large-scale land operations, environmental groups are warning of irreversible harm to ocean ecosystems. The International Seabed Authority has yet to finalize global standards, but with U.S. companies already applying for licenses, a new chapter in seabed resource extraction may be about to begin.

Next, the Democratic Republic of Congo has taken a major step to court U.S. investment under a minerals partnership pact. According to senior Congolese officials, Kinshasa has submitted a shortlist of state-owned assets, including copper-cobalt, lithium, manganese and gold projects, for potential American participation. The move marks Washington’s most tangible progress yet in converting diplomatic and investment efforts into influence over Congo’s critical mineral supply chain. The shortlist includes the Mutoshi copper-cobalt project, Kisenge’s manganese and gold licenses, and Cominiere’s lithium assets, among others. The projects will be reviewed by a newly formed Joint Steering Committee for American investors, which is part of broader effort to implement the U.S.-Congo minerals agreement. 

Finally, Noveon Magnetics has raised $215 million in Series C financing to expand its domestic rare earth magnet production. The funding is led by One Investment Management, who invested $200 million and will allow Noveon to increase manufacturing capacity beyond 2,000 tons per year. The company was the first to reshore full-scale production of sintered rare earth magnets to the U.S. and plans to ramp up output for use in electric vehicles, defense systems, AI and advanced manufacturing. CEO Scott Dunn called the financing a pivotal step in meeting surging demand and strengthening supply chain resilience. Over the past year, Noveon has inked multi-year supply deals with General Motors and ABB, forged partnerships with Lynas and Solvay, and launched a magnet recycling initiative with LG Electronics and Kangwon Energy.

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