Mining Press Roundup: Focus Graphite Unveils World's Fifth-Largest Resource in Quebec

Focus Graphite announced an upgraded mineral resource estimate for its Lac Tetepisca project in Quebec that includes 120,163 ktonnes of Indicated Mineral Resources at 10.27% graphitic carbon and 24,143 ktonnes of Inferred Mineral Resources at 9.88% graphitic carbon , positioning the deposit among the world's five largest graphite resources. The timing couldn't be better: graphite demand is projected to surge 310% by 2036, with battery anodes growing from 28% of consumption in 2024 to 62% by 2036 , driven by the electric vehicle revolution.

Focus Graphite: Quebec Deposit Joins Global Top Five

Focus Graphite, a Canadian developer of high-grade flake graphite deposits and advanced graphite materials for battery, defence, and industrial applications, announced its upgraded mineral resource estimate on its 100%-owned Lac Tetepisca Project in Quebec . The company's vice president of corporate development emphasized the strategic significance: "Supply chains are being redefined by control and reliability. With Lac Knife and Lac Tetepisca, we are building a domestic platform capable of delivering high-grade graphite at scale, aligned with North American and allied energy and defence priorities."

The resource update comes as Western nations scramble to reduce dependence on Chinese graphite supply. China maintains overwhelming dominance across the value chain, with Chinese producers controlling approximately 85-90% of spherical graphite production and over 95% of synthetic graphite anode material manufacturing . Focus Graphite's Quebec asset offers a rare North American alternative at a time when the market is growing due to rising demand from batteries, steel, and industrial use, with the world consuming more graphite fueled by the rising popularity of electric vehicles and the need for energy storage solutions .

Huayou Cobalt: $210 Million Bid for Atlantic Lithium's Ghana Project

Zhejiang Huayou Cobalt is set to acquire all of Atlantic Lithium's issued shares through an Australian scheme of arrangement for a cash payment of A$0.354 ($0.25486) per share , valuing the transaction at approximately $210 million. The price represents a 26.6% premium over the recent closing price , and the deal centers on Atlantic Lithium's Ewoyaa project in Ghana.

The mining lease for the Ewoyaa project received Ghanaian parliamentary approval in March 2026 , a critical de-risking event that cleared the path for the acquisition. Huayou chairperson and president Chen Hongliang commented that the acquisition of the Ewoyaa project complements the company's existing battery metal mining operations in Africa and represents a logical transaction as Huayou continues to build a new energy materials business . Huayou acquired the Arcadia lithium project in Zimbabwe in 2022 for US$422 million and has continued to expand its African footprint .

The transaction highlights China's continuing push to secure upstream supplies of critical minerals. The transaction awaits standard and additional conditions including shareholder approval at a meeting scheduled for November 2026 , with completion expected by year-end.

Cornish Metals: $210 Million Financing Advances UK Tin Revival

According to press releases, Cornish Metals, which is working to bring the South Crofty mine near Camborne back into production, has received a letter of interest from the Export-Import Bank of the United States (Exim), proposing a potential financing package linked to supplying tin to the US market . The company estimates it will cost around £198 million to restart the mine by mid-2028 .

The move comes less than a year after Cornish Metals secured a £28.6 million equity investment from the UK's government-backed National Wealth Fund . Tin is classed as a critical mineral and is widely used in electronics, renewable energy systems and advanced manufacturing. The UK currently has no domestic tin production, and South Crofty is expected to produce an average of around 4,700 tonnes of tin concentrate annually in its first five years, roughly equivalent to the UK's total yearly consumption .

The financing package reflects growing Western efforts to secure critical mineral supply chains outside China's sphere of influence, particularly for materials essential to defense and technology applications.

Sherritt International: Cuba Operations Suspended Amid US Sanctions

Sherritt International Corporation announced that following an Executive Order issued by the U.S. administration on May 1, 2026 expanding its sanctions against Cuba, Sherritt has suspended its direct participation in joint venture activities in Cuba, effective immediately . Brian Imrie, Richard Moat and Brett Richards have resigned from the Corporation's Board of Directors effective immediately .

Shares in Sherritt fell by 42 per cent to close at $0.145 apiece on the Toronto Stock Exchange on Thursday . Currently, there is no immediate impact on operations in Fort Saskatchewan, Alberta. The refinery is continuing to produce finished nickel and cobalt for sale. The inventory of feed it has available for such production is expected to last until approximately mid-June .

The measures targeted Moa Nickel SA, a joint venture between Toronto-based Sherritt International Corp and Cuba's state-owned nickel company, which mines nickel and cobalt, undercutting one of Cuba's key sources of foreign exchange . The suspension leaves Sherritt's future uncertain and highlights the geopolitical risks facing miners with operations in sanctioned jurisdictions.

Lundin Gold: Bonanza Grades at Ecuador's Fruta del Norte

Highlight hole FDN-C25-374 in the Fruta del Norte South zone cut 7.5 metres grading 667.78 grams gold per tonne from 19 metres downhole , according to Lundin Gold's announcement. Hole FDN-C26-380 cut about 8 metres grading 523.01 grams gold from about 23 metres depth , representing two of the highest grade-thickness holes ever drilled at the property.

Lundin shares jumped 8.1% to $94.32 Wednesday morning in Toronto, valuing the company at about $23 billion (US$17 billion) . Management has set aside a record US$85 million ($116 million) for exploration at Fruta del Norte this year. Crews are expected to drill some 133,000 metres — of which 125,000 metres are dedicated to conversion and near-mine exploration .

Lundin is targeting annual production of between 475,000 and 525,000 oz. of gold in 2026, 2027 and 2028 at average head grades of 8.3 grams gold . The results reinforce Fruta del Norte's status as one of the world's highest-grade operating gold mines and demonstrate the potential to extend its current 12-year mine life.

New South Wales: Uranium Ban Repeal Passes Upper House

The New South Wales Legislative Council has voted 21–19 in favour of repealing the state's long-standing ban on uranium mining and certain nuclear facilities , marking a significant development in Australia's nuclear policy debate. The proposed legislation would repeal restrictions that have been in place since 1986. The bill must still pass the Legislative Assembly before becoming law .

Libertarian Party MLC John Ruddick introduced the Uranium Mining and Nuclear Facilities (Prohibitions) Repeal Bill last November. "This is about lifting the ban on uranium mining," Ruddick said Wednesday in the house . Minerals Council of Australia CEO Tania Constable noted that forty years on, the world is taking a very different view of nuclear energy, with countries representing approximately 70 per cent of global GDP looking to nuclear energy and Australia's uranium to meet their energy security needs and help decarbonize their electricity grids .

The vote represents the first time in recent memory that pro-nuclear legislation has passed a house of Parliament in Australia, though federal restrictions on nuclear power generation would still remain in place even if NSW lifts its state-level prohibitions.

San Lorenzo Gold: Chile Drilling Hits All-Time High

San Lorenzo Gold soared to a record intraday high after the Canadian explorer said new drilling on the Arco de Oro target at its primary Salvadora project in Chile raises odds that the property contains several gold and copper systems. Hole SAL-10-25 cut 102 metres grading 1.33 grams gold from 153 metres downhole, including 13 metres grading 2.21 grams gold from the same depth .

Exploration Vice-President Terence Walker said: "These holes indicate the presence of a much larger system within the Arco de Oro trend than earlier thought. It would appear that we are penetrating the upper layers of a gold-rich mineralized porphyry copper-gold system which warrants immediate follow-up drilling."

Calgary-based San Lorenzo has emerged as one of the top performing junior explorers on the TSX Venture Exchange this year following a series of discoveries at Salvadora in northern Chile's Atacama region. Salvadora, which covers more than 90 sq. km, sits about 15 km from Codelco's long-producing El Salvador copper mine .

What It Means

Today's announcements reveal capital flowing decisively toward battery metals and critical minerals. Focus Graphite's world-class Quebec resource and Huayou's $210 million Atlantic Lithium acquisition both target the lithium-ion battery supply chain, where Western governments are desperate to reduce Chinese dominance. Cornish Metals' UK tin financing and New South Wales' uranium vote signal a broader shift: jurisdictions that historically resisted mining are reopening to secure domestic supply.

The Sherritt suspension serves as a stark reminder that geopolitical risk remains the wild card. According to market data, copper miners (COPX) gained 3.3% on Friday while uranium (URA) fell 1.6%, reflecting mixed sentiment on critical minerals amid trade tensions. Gold traded at $4,704/oz, up 0.1%, providing a stable backdrop for explorers like San Lorenzo and Lundin delivering high-grade intercepts. For juniors, the message is clear: proximity to infrastructure, permitting momentum, and exposure to battery metals are the catalysts attracting both strategic buyers and development capital in 2026.

This roundup covers press releases published on May 8, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.