Abasca Resources has nearly doubled the resource at its Loki flake graphite deposit in northern Saskatchewan, upgrading a portion to the indicated category and positioning the critical mineral project for a preliminary economic assessment . The updated mineral resource estimate includes an indicated estimate of 6.99 million tonnes at 8.27% graphitic carbon in addition to an inferred estimate of 15.83 million tonnes at 6.93% graphitic carbon . The announcement comes as graphite demand is projected to rise by 40% over the next decade, driven by the global clean energy transition , according to market data, though the graphite market in 2026 is at a turning point, shaped by persistent oversupply and multi-year price lows .
Abasca Resources: Saskatchewan Graphite Deposit Upgraded and Expanded
Abasca Resources announced the updated mineral resource estimate at its Loki Flake Graphite Deposit at the company's 100%-owned Key Lake South Project located in northern Saskatchewan . According to the company's press release, the update represents significant progress from the maiden resource announced in April 2025, which totaled 11.31 million tonnes at 7.65% graphitic carbon in the inferred category.
The updated mineral resource estimate will be incorporated into the preliminary economic assessment and underpins the study which will provide the technical and economic framework that the company believes will be required to advance the Loki Deposit into the feasibility stage . The Key Lake South Project is located 15 km south of the historic Key Lake mine and current mill, and hosts over 50 km of prospective conductors for potential new discoveries, alongside the Loki Flake Graphite Deposit .
The timing is strategic for battery-grade graphite projects. Graphite constitutes 95% of the anode material in lithium-ion batteries, making it the biggest component by volume in every battery cell , and in terms of supply risk scores based on geopolitical exposure, graphite emerged as the mineral with the highest results, influencing policy frameworks from Washington to Brussels to Beijing . China dominates over 70% of the graphite supply chain and produces 93% of battery anode materials , according to industry research, creating supply chain vulnerabilities that Western governments are working to address.
Genesis Minerals: Australia's Third-Largest Gold Producer Emerges
Genesis Minerals and Vault Minerals will merge to create Australia's third-largest gold producer, with the combined gold miner worth about A$13 billion ($9 billion) and targeting 600,000-700,000 ounces of annual production . The deal is expected to be completed by November , according to Bloomberg.
Vault shareholders will receive 0.7629 new Genesis shares plus 47.5 cents in cash for each Vault share held, marking a 15.7% premium to Vault's closing price and valuing the company at $5.6 billion . The companies have outlined potential post-tax synergies of around $2 billion, including $1.5 billion over ten years due to the proximity of the miners' operations in Western Australia .
The merger follows a competitive bidding process. Genesis Minerals and Vault Minerals will merge a day after rival bidder Regis Resources said it would not counter Genesis's bid and pulled out of the running . The combined group will become the leading producer in the Leonora-Laverton district, where it is forecast to deliver 400,000–500,000 ounces of annual production . According to market data, gold traded at $4,001 per ounce on July 14, down 2.1% as the precious metal pulled back from recent highs.
Elevate Uranium: Tightening Control of Namibian Project
Elevate Uranium has increased its ownership of the Marenica Uranium Project in Namibia to 90%, entering agreements to acquire an additional 15% interest in Marenica, simplifying the project's ownership structure . The company stated the transaction is expected to complete before the end of July 2026.
The acquisition follows a strong year for Marenica, with the project's mineral resource recently increasing to 52.8 million pounds of uranium oxide . Following completion of the transaction, Elevate's attributable share of the resource will increase to 47.5 million pounds of uranium oxide, while its Namibian resource base will grow to 124 million pounds .
Bulk samples from the project are currently being processed through the company's U-pgrade Pilot Plant, with results expected to provide key inputs for future feasibility studies . Elevate's proprietary U-pgrade beneficiation process is central to the economic case for the Marenica project, designed to upgrade low-grade uranium ore before conventional leaching, reducing the volumes of material requiring chemical processing . According to market data, the uranium ETF (URA) traded up 2.1% on July 14, reflecting continued investor interest in nuclear fuel supply.
