Mining Engineering’s Weekly Rundown: Episode 65

First, the Trump administration has announced about $3 billion in new investments aimed at expanding U.S. production of critical minerals and strengthening domestic mining. The package includes more than $180 million for mining education and workforce development, including a $100 million Department of Energy initiative designed to double the number of graduates from mining and critical minerals degree programs within two years. More than $80 million will support workforce programs and technology hubs at the Colorado School of Mines, South Dakota School of Mines and Johns Hopkins University. The administration announced the funding at a White House-backed roundtable with federal officials, university leaders and industry representatives. The investment comes as the United States seeks to expand domestic supplies of minerals used in manufacturing, energy infrastructure and national security.

Next, Resolution Copper has awarded about $110 million in contracts to Major Drilling America and Redpath USA to advance exploration and underground development at its proposed copper mine in Arizona. Major Drilling will conduct deep-hole directional diamond drilling from the surface and from about 6,800 feet underground under a two-and-a-half-year contract. The program will use four large-capacity core drilling rigs, with two already at the site and two more expected by the end of the year. Redpath will begin the first phase of underground development, converting two existing 7,000-foot shafts from sinking to development configuration and building a new mine station about 6,800 feet below ground. The station will include about 1,500 feet of tunnels, truck and drill bays, a maintenance shop and other infrastructure. The work is expected to support 100 new full-time Resolution Copper positions, with recruitment already underway. The project still requires additional state permits and partner approvals before a final investment decision.

Finally, Newmont and Barrick Mining have reached an agreement to resolve outstanding disputes over their Nevada Gold Mines joint venture and contribute previously excluded properties to the operation. Barrick will contribute its Fourmile property, while Newmont will contribute its Fiberline and Mike developments. Under the agreement, Newmont will pay Barrick $1.95 billion for the contribution of the properties. The companies will also update the joint venture’s governance provisions under a revised agreement. The settlement gives Newmont consent for Barrick’s planned initial public offering of its North American gold assets. Nevada Gold Mines, one of the world’s largest gold-producing operations, will include the newly contributed properties as the companies continue to develop the joint venture’s assets.

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