Mining Press Roundup: Energy Fuels Hits Full-Year Uranium Target by Midyear

Energy Fuels expects to produce approximately 1.6 million pounds of finished uranium by June 30, 2026, falling within the company's full-year guidance range of 1.5 to 2.5 million pounds — a milestone that underscores the strength of U.S. uranium production as nuclear power demand accelerates. The Denver-based producer, which operates the White Mesa Mill in Utah, is on track to meet its annual target in just six months, according to today's announcement. Uranium spot prices currently trade around $85 per pound , and according to market data, the URA uranium ETF gained 2.5% today to $43.42, reflecting continued investor confidence in the nuclear fuel sector.

Energy Fuels: Uranium Production Ahead of Schedule

Energy Fuels provided a mid-year update demonstrating solid operational execution across its U.S. uranium operations, with production at the White Mesa Mill expected to reach approximately 1.6 million pounds by June 30 . The company had set 2026 guidance for processed uranium production of 1.5 to 2.5 million pounds , meaning it's hitting the midpoint of its full-year range halfway through the year.

This performance comes as the uranium term market sends a strong bullish signal, with the long-term contract price climbing to $90, its highest level since 2008 . Energy Fuels has positioned itself to capitalize on this environment through mining at a rate of approximately 2.0 million pounds of recoverable uranium per year from the Pinyon Plain Mine in Arizona and the La Sal Complex in Utah . The company's ability to accelerate production reflects both operational efficiency and strategic positioning in a market where utilities face record levels of uncovered future demand.

GoldMining: $532 Million NPV for São Jorge Project

GoldMining announced results of a preliminary economic assessment on its São Jorge Project in Pará State, Brazil, highlighting an after-tax net present value of $532 million and an internal rate of return of 42.4% at a base case gold price of $3,500 per ounce . The study envisions a stable gold production profile averaging 51,250 ounces annually over a 10.6-year life of mine, with peak production of 57,200 ounces per year in years 2 through 4 .

What makes the economics particularly compelling is the project's leverage to higher gold prices. At spot gold prices of $4,400 per ounce, the after-tax NPV increases to $836.8 million, yielding an IRR of 58.6% and an initial payback of just 2.4 years . Gold traded at $4,047 per ounce today according to market data, down 4.1% but still well above the study's base case assumptions. Initial capital expenditure is estimated at $202.2 million, including a 25% contingency, with construction anticipated to take approximately two years . The project benefits from location in the southeastern portion of Pará State, approximately 460 km southeast of Santarem , in Brazil's established Tapajós gold district.

Schneider Electric and Torngat Metals: Rare Earth Partnership

Schneider Electric and Torngat Metals signed a non-binding Memorandum of Understanding to explore a strategic industrial partnership to support the development of a resilient rare earth value chain in Canada . The partnership centers on the Strange Lake rare earth project in Nunavik, with associated infrastructure in Labrador and a planned separation facility in Sept-Îles, Quebec .

The Strange Lake project is expected to produce both heavy and light rare earth elements essential to permanent magnets used in renewable energy, digital infrastructure, and advanced manufacturing . This matters because heavy rare earths like dysprosium and terbium remain among the most difficult to source outside China. An initial study pegged indicated resources at Strange Lake's main B-zone deposit at 278.1 million tonnes at 0.93% total rare earth oxides, with inferred resources of 214.4 million tonnes of 0.85% TREO . The MoU was signed in Paris on the margins of a meeting on financing critical minerals supply chains in G7 and allied nations , signaling government-level interest in securing Western rare earth supply chains.

Mining M&A: Record Quarter Despite Fewer Deals

Total deal value in the mining sector jumped 63% quarter-over-quarter to $26.28 billion in the first quarter of 2026, the second-largest quarterly total since S&P began tracking the data in late 2013 . However, the number of M&A deals, at 46, was nearly half of the December quarter totals , reflecting a market dynamic where fewer but larger transactions dominate.

Q1 2026 was the first quarter that S&P included steel deals in its coverage, and the $10 billion acquisition of BlueScope Steel — the largest of the quarter — likely overstated the increased value of M&A deals compared to past years . Still, the second and third largest deals centered on gold and copper respectively, an indication of the strong appetite for the two hottest commodities . Companies in the mining sector are now seeking immediate scale, with 30 company acquisitions recorded during the quarter, nearly double the number of asset purchases (16) . This shift toward corporate-level deals reflects strategic buyers prioritizing operating assets and supply chain security over exploration optionality.

Sigma Lithium: Legal Victory in Brazil

A Court of Appeal Judge in the Court of Justice of Minas Gerais state overturned a local lower court decision that included the potential for a legal collateral of $10 million against Sigma Lithium. The ruling was based on robust quantitative evidence presented by Sigma Lithium: one year of environmental data collected by third parties demonstrating low levels of dust, vibrations, and noise measured by independent experts in four neighboring communities .

The legal win removes a potential obstacle to the company's expansion plans at one of the largest hard-rock lithium projects in the Americas. The Court of Justice asked the company to fund the engagement of an independent technical advisory firm to monitor the impacts of Sigma Lithium operations on residents of the local municipalities . According to market data, the LIT lithium ETF gained 3.1% today to $78.89, reflecting renewed optimism in the lithium sector despite ongoing pricing pressures.

Eldorado Gold: Nearing C$100M Investment in Amex

Mid-tier producer Eldorado Gold is set to inject C$20.6 million in Quebec-focused Amex Exploration to maintain its 27% stake in the junior, bringing Eldorado's cumulative investment in Amex to nearly C$100 million . The financing follows Amex's April feasibility study, which raised annual gold production by about 47% over its September preliminary economic assessment, with Perron now expected to produce 147,000 ounces of gold per year in the five years of stage one production at an all-in sustaining cost of $910 per ounce .

At a gold price of $3,500 per ounce, the study estimates Perron would have a 0.5-year post-tax payback period . Eldorado's transaction needs shareholder approval under TSXV rules and heads to a vote on June 16 . The deal structure demonstrates how mid-tier producers are using strategic investments to secure exposure to high-grade development projects in safe jurisdictions, rather than pursuing outright acquisitions that carry integration risk and higher capital requirements.

What It Means

Today's announcements reveal three converging themes: accelerating production timelines for critical minerals, improving project economics driven by higher commodity prices, and strategic partnerships replacing traditional M&A as the preferred structure for securing supply chains.

Energy Fuels' ability to hit full-year uranium guidance by midyear isn't just an operational achievement — it's a signal that U.S. producers can scale quickly when market fundamentals align. With uranium long-term contract prices at 16-year highs and utilities facing record uncovered requirements, producers with operating assets and expansion capacity are positioned to capture premium pricing.

Meanwhile, gold projects like São Jorge and Perron are demonstrating robust economics even at conservative price assumptions, while current spot prices near $4,000 per ounce provide substantial upside leverage. The willingness of strategic investors like Eldorado to deploy nearly C$100 million into a single junior suggests confidence that high-grade, permitted projects in Tier-1 jurisdictions will command premium valuations as consolidation accelerates.

The Schneider Electric-Torngat partnership exemplifies a broader shift in critical minerals dealmaking: rather than outright acquisitions, industrial end-users are signing strategic MOUs that secure offtake, provide technical expertise, and align incentives across the value chain. This structure allows juniors to retain ownership while de-risking projects through commercial partnerships — a model that's likely to proliferate as governments prioritize supply chain resilience over pure market efficiency.

This roundup covers press releases published on June 11, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.