Mining Press Roundup: AbraSilver Study Quadruples Argentina Project Value as Critical Minerals Face Geopolitical Pressure

AbraSilver Resource's definitive feasibility study for its Diablillos silver-gold project in Argentina quadruples the open-pit mine's projected value to an after-tax net present value of about $3 billion and delivers a 42% internal rate of return with a 1.7-year payback period . The dramatic improvement from a December 2024 study that assigned an after-tax NPV of $747 million reflects higher metal prices, expanded reserves, and continued engineering optimization at what's emerging as one of the world's premier undeveloped silver assets.

AbraSilver: Diablillos Emerges as Tier-One Silver Development

Located in northwestern Argentina about 160 km south of Salta, Diablillos is AbraSilver's flagship asset and one of the country's largest undeveloped precious-metals projects . According to the company, the study assumes a silver price of $50 per ounce and a gold price of $3,650 per ounce —assumptions that look conservative given silver traded at $64.89/oz today, according to market data.

The DFS positions Diablillos as one of the world's premier undeveloped silver-gold projects , with proven and probable mineral reserves of 42.3 Mt grading 91 g/t silver and 0.81 g/t gold, containing approximately 124 million ounces silver and 1.1 million ounces gold . National Bank Financial analyst Don DeMarco noted the study "showcases an elevated net present value on tailwinds from a step change in reserves, accentuated front-end profile and higher metal prices" while delivering some of the lowest costs in the sector.

The project has already secured Argentina's RIGI fiscal incentive regime, which provides qualifying projects with contractual fiscal stability, import duty relief on capital equipment, reduced corporate tax obligations during early operations, and foreign exchange flexibility . Salta Province granted Environmental Impact Declaration approval in April 2026 , clearing a major permitting hurdle. The company is targeting a construction decision in the second half of 2026.

Sherritt International: US Sanctions Shut Canada's Only Cobalt Refinery

In a stark illustration of how geopolitics can disrupt critical mineral supply chains, Sherritt International has begun shutting down its Fort Saskatchewan refinery after expanded US sanctions on Cuba halted the feedstock supply needed to keep the Alberta, Canada facility running . The Toronto-based nickel and cobalt producer said the transition follows previous guidance that refinery operations would continue only until mid-June based on available inventory .

Sherritt mined nickel and cobalt at its Moa joint venture in eastern Cuba and processed the material at its refinery near Edmonton . The proximate cause of the shutdown is the expansion of US sanctions against Cuba announced in May 2026, which targeted Cuba's energy supply, creating fuel shortages that disrupted operations at the Moa mining and processing complex .

The closure has significant implications beyond Sherritt's balance sheet. Both nickel and cobalt are classified as critical minerals and energy security priorities across multiple Western jurisdictions, and the significance of Canadian-processed cobalt cannot be overstated in the current market environment . Global cobalt supply is heavily concentrated in the Democratic Republic of Congo with Chinese-controlled entities dominating refining capacity, and Western battery manufacturers are seeking supply chain diversification away from this concentration .

China: Rare Earths Export Controls Target US Supply Chain

China escalated its trade fight with Washington on Monday, June 22, 2026, when its Ministry of Commerce added 10 US companies to its export control list, including the two rare-earth companies the US government has backed to cut reliance on China: MP Materials and USA Rare Earth . The designation bars Chinese exporters from supplying dual-use items to the companies and prohibits organizations or individuals in any country from transferring Chinese-origin dual-use products to them .

China commands about 90 percent of rare earth refining and nearly 95 percent of permanent magnet production, according to the International Energy Agency . MP Materials, which operates the Mountain Pass rare earth mine in California and counts the Pentagon as a shareholder, has expanded processing capacity over the past year . MP Materials owns the only operational rare-earth mine in the United States and now counts the Defense Department as its biggest shareholder following a multibillion-dollar deal last year, while the Trump administration has also taken an equity stake in USA Rare Earth .

The practical impact on the two companies remains unclear, as both have worked to localize supply chains and reduce exposure to Chinese inputs, though many downstream industries still rely heavily on materials and technologies sourced from China . Shares were mixed on Monday, with MP Materials up 1% to $68.41 and USA Rare Earth down 0.3% at $24.56 .

Newmont: Red Chris Underground Expansion Approved in BC

Newmont's Red Chris mine in British Columbia has received crucial regulatory approvals, paving the way for a transition from open-pit mining to an underground operation and extending its lifespan into the mid-2040s . The province's approvals include an amended Environmental Assessment Certificate, achieved through a consent-based process with the Tahltan Nation, as well as an amended Mines Act permit .

The approvals enable the transition from current open-pit operations to block caving and mark a milestone in stage-gating as Newmont advances toward a final investment decision later this year . The project is expected to generate over 1,800 construction jobs, sustain approximately 1,500 peak-season operating roles and increase Canada's copper production by about 15% .

Newmont is completing a feasibility study ahead of a final investment decision this year on a proposed underground expansion, where the last published capital-cost estimate was $2.6 billion in a 2021 prefeasibility study by Newcrest . The approval represents the seventh major BC mine or mine extension permitted in the last 18 months , according to the Mining Association of British Columbia.

Gladiator Metals: BlackRock Leads $35M Financing for Yukon Copper

Copper explorer Gladiator Metals has raised more than $35 million through a private placement led by BlackRock to fund drilling at the Whitehorse project . The Vancouver-based junior sold a total of 7 million flow-through shares priced at $3.87 per share and 3 million non-flow-through shares at $2.65 per share, with BlackRock, the world's largest asset management firm, leading the financing round .

The financing will bolster the company's treasury to $50 million and fully fund its 2026-2027 exploration campaign at its main Whitehorse copper project in the Yukon . The project, located in the Whitehorse copper belt, has a record of historical production by Hudbay Minerals and is now host to multiple high-grade prospects within a 35 x 5 km area, with the most advanced being Cowley Park, which has had over 300 holes drilled leading to the identification of high-grade copper-molybdenum mineralization over a 700-metre strike .

According to CEO Jason Bontempo, the $35 million private placement will fully fund and aggressively accelerate the company's 2026 and 2027 exploration campaign, with drilling plans now focusing on increasing the current 3 active drill rigs to 6 before the end of summer . Copper miners have faced pressure in recent sessions, with the COPX copper miners ETF down 5.9% according to market data, making institutional backing particularly notable.

EnCore Energy: South Dakota's First ISR Uranium Mine Approved

After more than a decade of local opposition, enCore Energy has received federal approval to start building its Dewey Burdock project in southwest South Dakota, advancing what would become the state's first in-situ recovery uranium mine . The Bureau of Land Management this week authorized enCore subsidiary Powertech to start construction of initial infrastructure such as access roads, monitoring wells and power lines on 97 hectares of BLM-managed public land .

Dewey Burdock hosts 17.1 million measured and indicated pounds of uranium grading 0.12% uranium oxide and 712,600 inferred pounds at 0.06% uranium oxide, according to a 2024 resource . The project is expected to process 1 million pounds of uranium per year, recovering more than 14 million pounds over its 28-year life .

The approval comes as uranium markets face mixed signals, with the URA uranium ETF down 1.3% according to market data. Under President Trump's Executive Order, the Permitting Council identifies priority infrastructure and critical mineral projects to receive accelerated permitting review, and the addition of the first South Dakota ISR project supports the domestic uranium production focus of the United States .

Guinea: Raw Gold Export Ban Targets Local Value Addition

Guinea has banned the export of raw gold in an effort to raise domestic processing of metals, with President Mamadi Doumbouya announcing the ban on June 19 during a meeting with industrial and artisanal gold operators and gold purchasers . Guinean gold will be smelted, processed and certified in-country before it's exported abroad and operators who continue to export raw gold will face licence suspensions and the termination of mining contracts .

Though Guinea ranks sixth among African gold producers, gold is still a significant contributor to mining revenues, with the country producing 69.3 tonnes in 2025, according to The World Gold Council . According to data from the Ministry of Mines and Geology, Guinea exported 19,946 kilograms of industrial gold in 2025 and 49,609 kilograms of artisanal gold during the same period .

Authorities said all of these volumes will now pass through the Nimba Gold Refinery, which is under installation in Gbessia, a district of the capital, Conakry . The refinery has a reported capacity of 250 tonnes a year so should be able to handle the country's current production . The country's yellow metal ban comes amid a rising trend of resource nationalism in West Africa, and especially in the Sahel region, where governments are trying to capture more of the value chain .

What It Means

Today's announcements underscore two powerful forces reshaping the mining sector: the race to secure critical mineral supply chains and the growing assertiveness of resource-rich nations demanding more value from their deposits.

The geopolitical dimension is impossible to ignore. China's blacklisting of MP Materials and USA Rare Earth—the very companies Washington has backed to reduce dependence on Chinese rare earths—demonstrates Beijing's willingness to weaponize its dominance in critical mineral processing. Sherritt's cobalt refinery closure shows how sanctions can create unintended supply chain casualties, eliminating one of the few Western sources of battery-grade cobalt at precisely the moment automakers are scrambling to diversify away from Chinese and Congolese supply.

Meanwhile, capital continues flowing into quality copper and silver assets despite commodity price volatility. BlackRock's $35 million commitment to Gladiator Metals and AbraSilver's dramatically improved economics at Diablillos signal that institutional investors remain bullish on metals essential to electrification. With gold trading above $4,180/oz and silver near $65/oz according to market data, precious metals developers with advanced projects and strong feasibility studies are finding receptive audiences.

Resource nationalism is accelerating. Guinea's gold export ban follows similar moves by Tanzania, Uganda, and Ghana, reflecting a broader African push to capture downstream value. These policies create both risks and opportunities—companies that can partner effectively with host governments on local processing may gain competitive advantages, while those locked into export-only models face mounting pressure.

The common thread: mining is no longer just about geology and engineering. It's about navigating a world where supply chains are strategic assets, host governments demand participation, and the metals that power the energy transition have become tools of statecraft.

This roundup covers press releases published on June 23, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.