Mining Engineering’s Weekly Rundown: Episode 49

The U.S. Senate voted 50–49 to overturn a Biden-era ban on mining in northern Minnesota, aligning with the House and sending the measure to President Donald Trump, who is expected to sign it. The action reverses a 20-year withdrawal of 225,504 acres in the Superior National Forest and would reopen the pathway for proposals such as Antofagasta’s Twin Metals project, which targets copper, nickel, cobalt and other minerals in the Duluth Complex near the Canada border. Supporters, including Twin Metals and Mining Minnesota, argue the change strengthens U.S. mineral supply chains and does not authorize mining outright and that any project would still face years of multi-agency environmental review and must meet longstanding federal and Minnesota standards. Reuters reported the effort relies on the Congressional Review Act (CRA). If signed, the CRA would prevent a future president from reinstating the same type of ban. Even so, federal officials would still need to reissue leases to Twin Metals, and the mine would require a full environmental review and permits.

USA Rare Earth said it will acquire Brazilian rare-earth miner Serra Verde in a cash-and-stock deal valued at $2.8 billion, expanding its mining, processing, and magnet-making footprint. The purchase gives USA Rare Earth control of Serra Verde’s Pela Ema mine, a deposit notable for its heavy rare earth content — materials such as dysprosium and terbium that are critical for permanent magnets used in clean energy technologies, electronics, and defense, and which are forecast to face shortages outside China. The deal follows a recent series of international moves by USA Rare Earth, including buying U.K.-based metals and alloy producer Less Common Metals and taking a stake in French processor Carester, complementing its Round Top Mine in Texas and magnet plant in Stillwater, Oklahoma. The companies also highlighted U.S. government support: USA Rare Earth agreed to a $1.6 billion debt-and-equity funding package with Washington in January, while Serra Verde secured $565 million in financing in February.

U.S. companies are showing strong interest in mining assets in the Democratic Republic of Congo under a proposed U.S.–Congo minerals partnership, according to a State Department official. Congo has provided Washington a shortlist of strategic projects —including manganese, copper-cobalt, gold, and lithium — aimed at attracting U.S. capital and expanding U.S. influence in critical-minerals supply chains while reducing reliance on China. The U.S. is gathering private-sector feedback and says any investment, especially in the rebel-held Rubaya coltan mine (a major source of tantalum used in electronics, aerospace, and nuclear applications), must align with U.S.-brokered peace efforts in conflict-torn eastern Congo. M23 rebels criticize the partnership and claim Kinshasa is using it to draw U.S. support to retake Rubaya. Separately, Virtus Minerals is working to restart Chemaf’s cobalt and copper mines, viewed by the U.S. as a foundational project. Investors’ main concern is Congo’s fiscal and regulatory stability.

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