Mining Press Roundup: Pentagon Backs Energy Fuels with $725M Rare Earths Loan

Energy Fuels' shares jumped 16% on Thursday after the U.S. Department of War announced a conditional loan commitment of up to $725 million to expand the company's domestic rare earth processing operations and strengthen U.S. supply chains independent of China. The financing marks one of the largest federal commitments to critical minerals infrastructure since the Trump administration launched its push to build a domestic mine-to-magnet supply chain, and it positions the historically uranium-focused producer as a major player in the race to secure Western rare earth capacity.

Energy Fuels: Pentagon Commits $725M for Rare Earth Processing

Under a commitment agreement that is subject to further due diligence, finalization of agreements, customary closing conditions, and approvals, the Office of Strategic Capital would extend to Energy Fuels a $725 million loan with a tenor of 20 years to support the planned expansion of the company's critical minerals processing capabilities at its White Mesa Mill in Utah as well as a planned rare earth metals and alloy facility to be constructed in the United States.

The financing, combined with additional private capital, is intended to support a new U.S.-based rare earth separation and metallization facility. Energy Fuels, historically a uranium producer, plans to expand into rare earth separation and metallization, a critical midstream stage that converts processed materials into inputs for permanent magnet manufacturing. The move comes as the Trump administration's effort to build a domestic mine-to-magnet supply chain accelerates amid geopolitical tensions with China, which dominates global rare earth processing.

Energy Fuels stock shot higher on the announcement, touching $18 before the opening bell and trading at $17.93 at the time of publication on Thursday. The company joins a growing roster of U.S. rare earth developers receiving federal backing— in January 2026, the Department of Commerce signed a Letter of Intent for $1.6 billion in funding and took roughly a 10% equity stake in USA Rare Earth Inc. through shares and warrants priced at $17.17.

Falco Resources: Quebec Gold Project Value Triples to $3.3B

At a gold price of US$3,600/oz, the 2026 feasibility study shows that the Horne 5 Project would generate an after-tax NPV5% of $3.35 billion and an after-tax IRR of 28.2%.

Falco Resources announced the results of an updated feasibility study for its 100%-owned Horne 5 Gold Project located in Rouyn-Noranda, Québec, Canada. The 2026 Feasibility Study confirms Horne 5 as a large-scale, long-life gold project capable of generating substantial cash flow and strong returns for shareholders.

The updated economics represent a dramatic improvement from Falco's 2021 study, driven primarily by the sustained rally in gold prices. Under this scenario, the mine is positioned to emerge as a significant gold producer in Québec, delivering average annual payable gold production of 220,300 payable ounces over the life of mine, at a competitive AISC of US$782/oz, net of by-product credits from copper, zinc and silver production.

Québec's environmental review process continues to advance, with written confirmation from the Ministry of the environment that their analysis is progressing well and that solutions have been identified for key environmental issues.

A government decision regarding the authorization of the Project and issuance of the Decree is expected by the end of 2026. The polymetallic project benefits from its location in Quebec's historic Noranda mining camp, adjacent to existing infrastructure including Glencore's Horne smelter.

Rio Tinto: Oyu Tolgoi Exports Resume After Mongolia Blockade

Copper concentrate shipments from Rio Tinto's Oyu Tolgoi mine resumed on Thursday, a day after protesters blocked a key transport route and threatened exports from one of the world's largest copper projects. Oyu Tolgoi LLC said in a social media statement that concentrate exports had returned to normal after demonstrators from the Radical Reform Movement disrupted truck traffic to the Chinese border on Wednesday.

The brief disruption highlighted ongoing tensions over revenue sharing at the massive copper-gold operation in Mongolia's South Gobi Desert. The demonstration, organized by the Radical Reform Movement, temporarily halted traffic on a road used to transport concentrate from the giant copper-gold mine. The group is demanding a larger share of mining revenues for Mongolians, reviving a longstanding debate in a country where poverty remains widespread despite decades of resource development.

Rio Tinto expects to transform the operation into the world's fourth-largest copper mine by 2030. The mine is critical to both parties— Rio owns 66% of Oyu Tolgoi and operates the mine, while the Mongolian government holds the remaining 34%. Oyu Tolgoi is one of the world's largest known copper-gold deposits and a cornerstone of the miner's long-term growth strategy. Relations remain strained: in March, Rio Tinto disclosed that the Mongolian government was seeking to reopen negotiations over the project's commercial terms. Ulaanbaatar argues the current agreement does not provide a fair share of benefits and wants dividend payments accelerated while increasing Mongolia's share of project returns to about 60%.

BHP: $1.5B Chile Power Asset Sale Sharpens Copper Focus

Mining giant BHP is preparing to sell about $1.5 billion worth of power transmission assets in Chile as the world's largest miner sharpens its focus on copper and other core commodities. The plan is to divest roughly 1,000 km of transmission lines that supply electricity to its Escondida, Spence and Cerro Colorado operations, according to Chilean newspaper Diario Financiero, which cited sources familiar with the process.

The transaction could be completed as early as this year, though key details including the sale structure and buyer selection remain under review. The move follows a clear pattern— the Chile transaction would follow BHP's sale of a 49% stake in power transmission assets connected to its Australian iron ore operations to Global Infrastructure Partners, a BlackRock subsidiary, for $2 billion last year.

The potential sale highlights a broader strategic shift underway at BHP as demand forecasts for copper strengthen amid electrification and energy transition trends. By monetizing non-core infrastructure assets, BHP can redeploy capital into copper production and exploration—a strategy that aligns with the company's public positioning as a key supplier to the energy transition. Infrastructure assets linked to major mining operations offer investors stable, long-term demand, making them attractive targets for transmission companies, energy firms and institutional investors seeking predictable returns.

Resouro Strategic Metals: $1B Rare Earth and Titanium Project in Brazil

Resouro Strategic Metals says a starter operation at its main Tiros rare earths and titanium project in Brazil could be a billion-dollar operation, according to a new preliminary economic assessment. The mine would deliver a post-tax net present value of $714.9 million (C$1 billion) at an 8% discount rate and a 44% post-tax internal rate of return, according to the study issued on Monday.

Tiros, located in Minas Gerais, is one of the world's largest combined rare earths and titanium deposits, according to a JORC (Australia rules) resource last year. It hosts 1.4 billion measured and indicated tonnes grading 12% titanium dioxide (TiO2) and 4,000 parts per million TREO. The dual-commodity structure provides revenue diversification that many single-commodity rare earth projects lack.

The study envisions a proposed 500,000 tonne per annum operation of approximately 90,000 tonnes TiO2 concentrate and 3,636 tonnes TREO products annually, over an initial 20-year mine life. The proposed starter operation targets less than 1% of the project's resource, leaving substantial scope for future expansion and long-term growth, Resouro said.

Resouro's stock closed on Monday 8.7% stronger in Toronto and gained a further 3.2% on Tuesday to 32¢ apiece.

Hudbay Minerals: Copper Mountain Expansion Breaks Ground

Hudbay Minerals recently celebrated the official groundbreaking of the New Ingerbelle expansion project at its Copper Mountain mine, marking a significant milestone for the operation and its long-term future in British Columbia.

New Ingerbelle received key mining permits on February 19, 2026, from the British Columbia Major Mines Office.

Hudbay expects New Ingerbelle to generate more than C$11.5 billion in provincial GDP and over C$2.2 billion in labour income. According to Hudbay, the project also preserves more than 800 direct jobs and supports regional supply chains and local businesses across the Similkameen region.

The New Ingerbelle expansion is expected to secure more than 800 full-time jobs at Copper Mountain beyond 2040.

The expansion comes as copper demand forecasts strengthen globally, driven by electrification and renewable energy infrastructure buildout. British Columbia has positioned itself as a key jurisdiction for copper development, and the New Ingerbelle project reinforces that strategy with strong government and Indigenous community support.

Endeavour Silver: High-Grade Drilling Hints at Terronera Mine-Life Extension

Endeavour Silver announced positive drill results from its exploration program at its newest mine, Terronera, located in Jalisco, Mexico. Since 2025, the Company has completed 43 drill holes totaling 7,015 metres on the La Luz system and 10 drill holes totaling 1,904 metres targeting the Terronera vein. This marks the first exploration drilling campaign at the Terronera mine since 2020.

Key highlights from this program include results that demonstrate the exploration potential that exists beyond the current Terronera mine plan. At both Terronera and La Luz, drilling has successfully extended mineralization along strike and at depth while supporting the continuity of high-grade silver and gold zones.

Based on the Feasibility Study, Terronera is expected to produce 4 million ounces of silver and 38,000 ounces of gold annually over its 10-year mine life.

The new drilling results suggest potential to extend that mine life and add resources beyond the current plan. By advancing mine development, the company is better positioned to establish underground drill platforms that allow it to efficiently test priority targets and quickly improve understanding of the district vein systems. The results highlight the opportunity to grow resources, extend mine life and unlock additional value across the broader Terronera property.

What It Means

Today's announcements underscore two dominant themes shaping the mining sector in mid-2026: the critical minerals arms race and the copper supply crunch.

The Energy Fuels financing represents the clearest signal yet that Western governments are willing to deploy massive capital to break China's stranglehold on rare earth processing. With the Department of Defense's Office of Strategic Capital announcing a $725 million conditional loan commitment to expand domestic rare earth processing at its White Mesa Mill in Utah and fund a new rare earth metals and alloy facility in the U.S. , the U.S. is moving beyond rhetoric to concrete infrastructure investment. Resouro's Brazilian project adds geographic diversification to the rare earth supply picture, offering a Western Hemisphere alternative.

Copper remains the metal of the moment. BHP's asset sales, Hudbay's expansion groundbreaking, and the Oyu Tolgoi disruption all point to the same reality: copper supply is tight, demand is growing, and every major project matters. According to market data, the COPX copper miners ETF traded at $86.06 on Wednesday, down 0.8%, reflecting ongoing concerns about supply disruptions and geopolitical risk.

The Falco feasibility study demonstrates how sustained high gold prices are transforming project economics across the sector, turning marginal deposits into billion-dollar opportunities. With gold holding near record levels, developers with advanced-stage gold projects are finding renewed investor interest and improved financing conditions.

Junior miners with meaningful catalysts—whether drill results, economic studies, or government backing—continue to attract capital in a market that remains selective but hungry for quality stories in strategic commodities.

This roundup covers press releases published on June 18, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.