Mining Engineering’s Weekly Rundown: Episode 64

First, Perpetua Resources, the U.S. Army, and Idaho National Laboratory have opened a modular mineral processing pilot plant in Idaho Falls to help establish a domestic supply chain for antimony trisulfide. The facility will process antimony samples from Perpetua’s Stibnite Gold Project in central Idaho, which contains the only identified domestic antimony reserve. China and Russia currently dominate global antimony production, and China stopped supplying the United States with military-grade antimony trisulfide in 2021. The pilot plant builds on years of collaboration between Perpetua, the U.S. Army, and Idaho National Laboratory to strengthen domestic processing capabilities. The facility will also support workforce training and could eventually process other critical minerals. Since 2022, Perpetua has received more than $87 million in funding from the U.S. Department of War and the U.S. Army to advance the Stibnite Gold Project and domestic antimony production.

Next, Lockheed Martin is negotiating supply agreements with U.S. and Canadian producers as the defense contractor looks to secure domestic sources of critical minerals used in military equipment. According to Reuters, Lockheed is discussing a scandium supply agreement with NioCorp Developments and separate germanium supply agreements with Teck Resources and 5N Plus. The talks follow a Trump administration executive order that makes it more difficult for defense contractors to source critical minerals from China and other prohibited foreign suppliers. NioCorp’s proposed agreement would supply 15 metric tons of scandium annually from its Nebraska project, representing roughly one-quarter of current global demand. Negotiations over germanium have continued for more than a year as the companies work through pricing and contract terms. The discussions reflect growing efforts to build North American critical mineral supply chains as defense manufacturers seek more reliable sources of strategic materials.

Finally, Glencore plans to pursue a secondary listing on the Australian Securities Exchange as it looks to expand its investor base and support long-term copper growth. The company expects the listing will provide access to Australia’s large institutional investment market, where pension assets total about A$4.4 trillion. Chief Executive Gary Nagle said Glencore believes it can qualify for inclusion in the ASX 200 within 12 months before eventually joining the ASX 100. The listing follows unsuccessful merger discussions with Rio Tinto earlier this year and comes as the six-month standstill period on those talks nears its end. Analysts say an Australian listing could also make future mergers or acquisitions involving Australian mining companies easier. Glencore aims to increase annual copper production to approximately 1.6 million metric tons by 2035, nearly doubling expected production levels for this year.

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