NMA Mining Minute

NMA Mining Minute 3-6-2026

Hope and optimism return as Senate Democrats yesterday said they will return to the negotiating table on permitting reform. Permitting reform has been one of the few areas of bipartisan agreement in Washington but Senate Democrats walked away from progress in talks last December due to the White House's stance on wind and solar projects. Now that Interior has been actively processing applications for solar and onshore wind projects, negotiating is back on. And that's a good thing for everyone. We know how the conflict with Iran is impacting energy prices and supplies, but it's also having impacts on other material supplies. One key impact is the global supply of aluminum. With shipping traffic through the strait of Hormuz at a standstill, supplies aren't moving, smelters are issuing notices to customers, and disruptions are being felt across the supply chain. And in the coming days the International Seabed Authority, which is the UN body that manages mineral-related activities in the ocean, will gather in Jamaica to discuss a proposed mining code for commercial seabed mining. As they meet, there's a lot at stake as some are looking to move ahead with projects while others are calling for a global moratorium so that science and regulations can catch up.

NMA Mining Minute 3-5-2026

It's beginning to look a lot like midterms. That's the sense when you look at all of the proposals to address what seems to be the election's key issue: energy affordability. Starting in the White House, President Trump hosted business leaders yesterday to roll out his "ratepayer protection pledge," which was signed by Google, Microsoft, OpenAI and more and it has tech companies pledging to build, provide or buy any power their data center infrastructure needs. It's designed to ensure residents don't pay for the electricity used to power data centers. The President said in making the announcement that Americans' energy prices could drop "very substantially" as a result. Over on the Democrat side of the aisle, Senate Minority Leader Chuck Schumer said yesterday that Democrats are set to release a plan to lower energy costs as part of its so-called "cost agenda" for 2026, described as a broader effort to confront affordability issues. No details are available yet on their energy price plan, but it's certainly one we'll be watching. Finally, on a trip to Venezuela yesterday, Interior Secretary Doug Burgum called on investors to look to the country's rich minerals resources, much of which is located in the country's remote southern regions. Burgum said, "Venezuela is a rich, rich country filled with both oil and gas resources but also rich in critical minerals. The opportunities now are greater than ever." Not discussed were security concerns in a region home to powerful armed gangs and guerrilla groups.

NMA Mining Minute 3-4-2026

The energy markets are continuing to react to the situation in Iran. European thermal coal prices are at their highest level since October 2023. South African thermal-coal export prices have climbed to their highest level since August 2024. And Australian coal futures are also climbing. The price jumps are in response to concerns around natural gas supplies, where European natural-gas prices are up 70% just since last weekend. It's a bit of a repeat of what we saw just a few years ago around the war in Russia and Ukraine war. Italy's energy minister said on Wednesday that it may restart some coal power stations if the conflict in ‌the Middle East continues. Back here in Washington, the House on Tuesday approved the legislation we mentioned earlier this week to align the USGS and Department of Energy's critical minerals lists—That's the Critical Mineral Consistency Act of 2025. The Senate Energy and Natural Resources Committee last year approved a companion bill.

NMA Mining Minute 3-3-2026

The conflict in Iran is obviously having an impact on the markets. On the energy side, the global market for oil and natural gas is seeing significant upheaval. Natural gas markets are being impacted because Qatar ships about 20% of global LNG supplies and had to shut down production after facilities were attacked. In addition to that, shipments of LNG are currently blocked from the waterway from the Persian Gulf that allows Middle Eastern exporters to get their products to Asia. One market that could pick up the slack when natural gas prices rise and supply is short is coal. The administration has started to work through how a minerals trading bloc with U.S. allies will work, with the Office of the U.S. Trade Representative taking public comment around how to design the multinational framework. The comment period is open through March 19. And we'll end with great news from NMA Member Florence Copper, which just harvested its first copper cathodes at its operation in Arizona, marking the first new copper production from a greenfield project in the US since 2008.

NMA Mining Minute 3-2-2026

You've heard us discuss this legislation in the past and we're talking about it again: the House is planning a vote on the "Critical Mineral Consistency Act." This is one that simply makes sense, and would align the USGS critical minerals list with that of the Department of Energy. There's no good reason to have conflicting lists within the US government so we hope to see this one get across the finish line soon. In dealmaking news, Hudbay Minerals said today it will acquire Arizona Sonoran Copper Company, creating the third-largest copper district in North America. With the news, Hudbay will have full ownership of the Cactus copper project in Arizona and expand its US growth pipeline alongside its existing Copper World project. Finally last week Secretary of the Interior Doug Burgum and Congressman Ryan Zinke visited Montana Tech University to tour its Lance College of Mines and Engineering's advanced mineral labs, hear more on the engineering technology the school has developed, and have a discussion with the community on the administration's commitment to Montana mining. The emphasis on mining schools is important as the mining industry continues to work to train and recruit the next generation of miners.