Mining Engineering’s Weekly Rundown: Episode 73

First, U.S. mining companies are being recognized for advances in mine safety, technology, reclamation and mineral development. The National Mining Association, National Institute for Occupational Safety and Health, Office of Surface Mining Reclamation and Enforcement and Bureau of Land Management will honor companies across those areas. Twenty mining operations earned the NMA’s 2025 Sentinels of Safety Awards after recording the most hours in their categories without a lost-time injury. Federal agencies will also recognize companies for applying technology to improve mine safety, advancing reclamation and contributing to mineral development. NIOSH will recognize Innovative Wireless Technologies and Core Natural Resources for using a wireless communication system during the Leer South Mine Fire, which resulted in zero injuries and fatalities. Coeur Mining will receive an award for using a robotic dog for safety inspections, reducing the need for workers to enter areas with silica, moving machinery and energized equipment. The Bureau of Land Management will recognize four companies for contributions to solid mineral development, including Nevada Gold Mines for hardrock mineral leadership.

Next, China is seeking copper supply commitments from Anglo American as a condition for approving the company’s proposed $54 billion merger with Teck Resources, according to Reuters. China’s State Administration for Market Regulation has asked Anglo to provide assurances on copper concentrate supplies, including volumes sold through traders, as it reviews the transaction. China accounts for as much as 60 percent of global copper cathode refining, but its smelters face a severe shortage of raw material. Chinese refined copper production is expected to grow at its slowest rate since at least 2000 this year as smelters compete for concentrate and weaker sulfuric acid prices pressure profitability. China has yet to approve the Anglo-Teck deal and has significant leverage because it is a major consumer of copper from both companies. The merger has received regulatory approval in every other jurisdiction where the companies operate, and Anglo and Teck expect the transaction to close by March 2027. The combined company would control about 5 percent of global copper supply.

Finally, Gold continues to hold its position as a strategic reserve asset despite a sharp rise in government bond yields, with central bankers pointing to geopolitical risk, high debt levels and continued diversification as reasons for holding the metal. Gold typically comes under pressure when bond yields rise because higher yields increase the opportunity cost of holding an asset that does not pay interest. But gold prices have remained above $4,000 this year despite U.S. Treasury yields reaching multi-decade highs, supported by central bank purchases and safe-haven demand. Bank of Italy Deputy Governor Sergio Nicoletti Altimari said gold remains a safe-haven asset, while Bundesbank President Joachim Nagel said higher yields make bonds more attractive but that diversification into gold remains important. Central bank gold demand is forecast to decline 15 percent from a year earlier to 720 metric tons in 2026, according to Metals Focus, but that would remain above levels recorded before 2022. Demand has also shifted in China, where bar and coin purchases surpassed jewelry consumption for the first time in 2025.

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