Mining Press Roundup: Lithium Deals Heat Up as Critical Minerals Take Center Stage

Shares in Australian lithium developer ioneer (ASX: INR) jumped after securing support from two South Korean engineering and infrastructure groups for its Rhyolite Ridge project in Nevada, with the stock climbing as much as 29% intraday on Tuesday before closing up 7.1% at A$0.158, giving the company a market capitalization of A$461.2 million ($320 million). The backing from Korea Overseas Infrastructure & Urban Development (KIND) and Hyundai Engineering marks a significant step toward a final investment decision targeted for the second half of 2026.

Ioneer: Korean Partners Advance Nevada Lithium-Boron Project

Ioneer Ltd (ASX: INR, NASDAQ: IONR) announced the entry into strategic non-binding letters of intent with the Korea Overseas Infrastructure & Urban Development Corporation (KIND), the Republic of Korea's specialized public institution mandated by the Ministry of Land, Infrastructure and Transport (MOLIT) to facilitate and invest in overseas infrastructure and public-private partnership projects, and Hyundai Engineering Co. Ltd., a leading Korean and international engineering, procurement and construction company, to advance the development of the Rhyolite Ridge Lithium-Boron Project.

Once operational, the project is designed to produce 27,800 tonnes of battery-grade lithium hydroxide and 135,500 tonnes of boric acid annually over an initial 77-year mine plan, with all chemical refining happening on-site in Nevada, generating between 275 and 300 permanent jobs during operations.

Rhyolite Ridge hosts the continent's only known lithium-boron reserve and is one of only two such deposits globally, according to ioneer.

Ioneer said Korea Overseas Infrastructure & Urban Development and Hyundai Engineering plan to formalize their cooperation through memorandums of understanding in July 2026. The partnerships reduce execution risk ahead of the final investment decision and strengthen ioneer's relationship with South Korea, which includes a 2021 supply agreement with EcoPro Innovation.

Li-FT Power: $12M Option to Transform Diamond Mine into Lithium Hub

Li-FT Power Ltd (TSXV: LIFT) entered into a binding call option agreement with Stornoway Diamonds for the Renard diamond mine, processing facility and associated infrastructure, with court approval being sought at a Court hearing scheduled for July 2, 2026, and the potential acquisition of Renard, in which over C$900 million of capital has been invested, could materially reduce upfront capital expenditure, project risk, and the environmental footprint at the Adina Lithium Project.

As consideration for the Option, LIFT will pay, within two business days of execution of the Option Agreement, a C$12 million fee in cash (the "Option Fee"), which will be held in trust by the Monitor pending receipt of the authorization of Ministère des Ressources naturelles et des Forêts ("MRNF") for the postponement of rehabilitation and restoration work at Renard during the Option Period.

LIFT will have a two-year period from the date of execution of the Option Agreement, unless extended (the "Option Period") to exercise the Option for C$1.00 (the "Exercise Price").

Renard began mineral processing in 2016, with Stornoway completing five milling campaigns to recover rough diamonds and terminating operating activities in January 2025 following the commencement of restructuring proceedings, and the Renard process plant has a design capacity of 2.2 million tonnes per annum. The facility is located approximately 60 kilometers south of Li-FT's Adina Lithium Project in Quebec's James Bay region, offering potential synergies for processing infrastructure.

Faraday Copper: Expanding Near-Surface Mineralization at Copper Creek

Faraday Copper Corp. (TSX:FDY) (OTCQX:CPPKF) announced the results of 18 drill holes from its Phase IV drill program at the Copper Creek Project, located in Arizona, with five holes drilled in the American Eagle area targeting near-surface copper mineralization, and six holes drilled near Mammoth and Childs Aldwinkle with infill, geotechnical and hydrogeological objectives.

Paul Harbidge, President and CEO, commented, "I am pleased with the drill results to date, particularly in the American Eagle area, which continue to increase our confidence in the potential contribution from this area in the next mineral resource update.

The primary objective of the current drill program was open pit resource definition, which has now been completed, and with the proposed acquisition of the San Manuel Property, drilling has been paused as of June 20, 2026, with the Company expecting to resume drilling in the fall of 2026 once the proposed acquisition of San Manuel has closed.

Copper Creek is one of the largest undeveloped copper projects in the United States, located in a mining-friendly jurisdiction 150 km southeast of Phoenix. The project comes as copper markets face supply constraints, with the COPX copper miners ETF trading down 4.0% today at $76.27, according to market data.

Aclara Resources: Chile Rare Earths Project Wins Environmental Approval

Aclara Resources' (TSX: ARA) Environmental Qualification Resolution (RCA) formalizes the environmental approval granted earlier this month by the Environmental Assessment Commission of the Biobío region in south-central Chile, wrapping up a process that has taken longer than four years for the project.

TSX-listed rare earths developer Aclara Resources has been granted an environmental qualification resolution for its Penco Module ionic clay rare earth project in Chile, with the Environmental Assessment Commission of Chile's Biobío region now authorizing the development and operation of the project, and Aclara says Penco Module is now among only a few approved heavy rare earths projects outside of China, with Penco Module expected to become a sustainable source of dysprosium and terbium, which are minerals used in permanent magnets for electric vehicles, renewable-energy technologies and defence applications.

Penco is estimated to produce about 774 tonnes of rare earth oxides (REO) annually over 14 years, according to a preliminary economic assessment from 2021. The approval comes as China intensifies its control over critical minerals supply chains, making non-Chinese sources increasingly strategic.

China: Rare Earths Export Controls Target US Companies

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 (NYSE: MP) and USA Rare Earth (Nasdaq: USAR), with the ministry saying the move was a response to the United States expanding its own list of Chinese military-linked entities earlier this month.

MP Materials operates the only active rare earth mine in the US, USA Rare Earth has been developing processing capabilities with direct federal backing, both companies rely, to varying degrees, on Chinese-origin materials and processing technology to bridge gaps in their own supply chains, and by placing them on the export control list, China is essentially saying: you want to compete with us, fine, but you won't do it with our help.

A partial suspension of the strictest rules is in place and runs until November 10, 2026, according to European Parliament research, and the June 22 action is entity-specific, aimed at named companies, rather than a broad new restriction on rare-earth exports overall. The move underscores the geopolitical dimension of critical minerals development and the challenges facing Western efforts to build alternative supply chains.

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

Copper explorer Gladiator Metals (TSXV: GLAD; US-OTC: GDTRF) has raised more than $35 million (US$24.7 million) through a private placement led by BlackRock to fund drilling at the Whitehorse project, with the Vancouver-based junior selling 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 under the placement, and BlackRock, the world's largest asset management firm, led 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, with the project, located in the Whitehorse copper belt, having a record of historical production by Hudbay Minerals (TSX, NYSE: HBM) and now hosting multiple high-grade prospects within a 35 x 5 km area, and 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.

The BlackRock backing signals institutional confidence in junior copper explorers as the market anticipates supply deficits. Shares of Gladiator Metals rose 1.2% to $3.35 apiece on Monday afternoon in Toronto, valuing the company at $355 million.

Sherritt International: US Sanctions Force Cobalt Refinery Closure

Sherritt International (TSX: S) 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, with the Toronto-based nickel and cobalt producer saying 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 refinery will remain idle until mining and processing activities at Moa resume and the feed pipeline is rebuilt, with Sherritt saying it cannot provide guidance on when that may occur and continuing to suspend its direct participation in the Cuban joint venture.

The shutdown marks the latest fallout from Washington's tougher stance on Cuba and highlights the vulnerability of supply chains that depend on the island's mining sector. The closure eliminates Canada's only cobalt refining capacity at a time when the battery metal is critical for electric vehicle production. Since the Cuba sanctions began to bite in May, shares in Sherritt International have collapsed to 12¢ apiece in Toronto, valuing the company at $84.5 million.

What It Means

Today's announcements reveal a mining sector increasingly shaped by geopolitics and the race to secure critical minerals outside Chinese control. Lithium projects are attracting major institutional backing—from Hyundai and KIND at ioneer's Rhyolite Ridge to BlackRock's investment in Gladiator's copper exploration—while China's export controls on MP Materials and USA Rare Earth demonstrate Beijing's willingness to weaponize its dominance in rare earths processing.

The Li-FT deal for Quebec's Renard diamond mine illustrates creative approaches to reducing capital costs by repurposing existing infrastructure, a strategy that could accelerate lithium production timelines. Meanwhile, Sherritt's forced shutdown of Canada's only cobalt refinery shows how sanctions can disrupt even established supply chains, creating both risks and opportunities for alternative suppliers. With copper trading down 4% today and gold off 2.1%, according to market data, the focus is shifting from commodity prices to supply security—and the companies that can deliver production in friendly jurisdictions are commanding premium valuations.

This roundup covers press releases published on June 24, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.