Mining Press Roundup: South32 Breaks US Permit Logjam with Arizona Zinc Approval

South32's Hermosa zinc-silver project in southern Arizona has secured final federal approval in just over two years, becoming the first mining project to complete the US FAST-41 permitting process —a milestone that could reshape how critical minerals projects navigate American regulatory systems. Hermosa was the first mining project ever admitted to the FAST-41 programme, a federal framework originally established under the Fixing America's Surface Transportation Act to improve permitting coordination for nationally significant infrastructure projects, and its inclusion set a precedent that has since been followed by 57 additional mining projects admitted during the current administration.

South32: Arizona Zinc Project Clears Federal Hurdles in Record Time

The South32 Hermosa Critical Minerals Project is a proposed zinc and manganese mining and processing operation in a historic mining district in Santa Cruz County, Arizona near the US-Mexico border.

The Hermosa project, located in Southern Arizona, is currently the only advanced mine development project in the US that could produce two USGS-designated critical minerals – manganese and zinc – which are essential minerals for powering the world's clean energy future.

The process assigned a dedicated Forest Service project manager to coordinate agencies and keep decisions on schedule, reducing delays that often slow environmental reviews.

South32 began engaging local Indigenous communities in 2019, several years before formal federal consultation was required, and the company has worked individually with 12 tribes and expects to sign a community protection and benefits agreement before year-end that includes environmental commitments exceeding permit requirements.

The decision paves the way for South32 to fully develop the project beyond its privately held land, including building ancillary infrastructure such as a primary access road, a secondary dry-stack tailings facility, and allowing utility UniSource Energy Services to build a portion of a 138-kV power line on Coronado National Forest land.

Construction is already halfway complete on private land.

NGEx Minerals: 20% Copper Intercepts Extend Lunahuasi Discovery

NGEx Minerals delivered another set of exceptional drill results from its Lunahuasi copper-gold-silver project in Argentina, with one hole intersecting 20.3% copper equivalent. According to the company's latest release, highlight hole DPDH077 in Jupiter returned 10 meters of 0.88% copper, 3.14 g/t gold, and 12.2 g/t silver, with a 7.6-meter section grading 18.84% copper.

Lunahuasi is a copper-gold-silver high-sulphidation epithermal deposit discovered by NGEx in 2023, and drilling to date at Lunahuasi has returned the highest grades ever encountered in the Vicuña District with significant upside as NGEx continues to explore the large mineralized system.

The project has quickly gained attention for delivering some of the highest copper and gold grades encountered in the district, which hosts major deposits such as Josemaria and Filo del Sol held in the Lundin Mining and BHP joint venture, and NGEx's Los Helados.

According to market data, copper traded at $6.44 per pound on July 30, up 2.49% from the previous day, reflecting continued strength in the red metal as supply constraints persist. Over the past month, copper's price has risen 5.09%, and is up 46.14% compared to the same time last year.

Selkirk Copper: Resource Update Nearly Triples Contained Metal at Minto

Selkirk Copper Mines announced the results of an updated Mineral Resource Estimate for the Minto Project in the Yukon, Canada, which establishes a Measured & Indicated Resource of 47.8 million tonnes, representing a 280% increase in tonnage in these categories compared to the 2025 Mineral Resource Estimate, with 47.8 million tonnes of Measured & Indicated Resources at 0.89% copper, 0.34 g/t gold, and 3.2 g/t silver totaling 940 million pounds copper, 530,000 ounces gold, and 4.97 million ounces silver.

The Phase 1 52,288 metre drill program has clearly demonstrated the significant potential for discovery of new zones and expansion of the known zones of high-grade copper-gold-silver mineralization on the Minto Mine Property in both underground and open pit mineable configurations.

Selkirk Copper controls 26,850 hectares of prospective mineral claims located in the Minto-Carmacks copper belt as well as significant open-pit and underground infrastructure, a 4,100 tonne per day processing plant, 400-person camp, water treatment facilities, numerous ancillary buildings and mobile equipment centred on the Minto mine.

The company is majority-owned by Selkirk First Nation and is working toward a potential mine restart. The updated mineral resource estimate and preliminary economic assessment are on target for completion in the second half of July.

Zijin Gold: $4 Billion Allied Gold Deal Collapses, Takes 9% Stake Instead

Zijin Gold's planned $4 billion (C$5.5 billion) acquisition of Allied Gold has collapsed after Chinese regulators failed to approve the transaction before the deadline, leaving the state-backed miner with a 9.2% stake instead.

Allied shares plunged 18% to C$24.19 Wednesday morning in Toronto after the companies said they had mutually agreed to let today's deadline expire because there was "no reasonable likelihood" the remaining closing conditions would be satisfied within the foreseeable future.

Zijin, which is indirectly owned by the Chinese government, offered $44 a share in cash for the Toronto-based miner in January, valuing Allied at about $4 billion and marking an all-time high for its stock.

Instead, Zijin on Wednesday agreed to buy about 12.8 million newly issued Allied shares at C$32.55 each in a private placement worth about $295 million — a transaction expected to close on or about Aug. 10.

The failed takeover underscores the growing challenges facing large cross-border mining transactions as geopolitical tensions and regulatory scrutiny increasingly complicate deals involving Chinese buyers. Allied operates gold mines and development projects in Ivory Coast, Mali and Ethiopia.

Denison Mines: Canada's First ISR Uranium Mine Enters Full Construction

Denison Mines announced that activities at the Phoenix in-situ recovery (ISR) uranium mine, part of the Wheeler River project in Saskatchewan, have moved from site preparation to full-scale construction, including starting installation of the Phase 1 perimeter freeze wall.

Since early works began in March 2026, Denison reports substantial completion of site clearing, progress on schedule-sensitive civil works, establishment of construction management facilities, and commissioning of a temporary construction camp that increases on-site accommodation capacity to nearly 400 people.

Phoenix will use in-situ recovery (ISR), a method that extracts uranium by injecting a solution underground to dissolve the ore, then pumping the uranium-bearing liquid to the surface for processing, without conventional open-pit or underground excavation.

Denison is targeting first uranium production from Phoenix by mid-2028.

The project comes as uranium markets remain strong. Long-term contract prices have surged to $90 per pound, the highest level since 2008, driven by a convergence of three massive catalysts: the hyper-scaling of AI infrastructure demanding 24/7 carbon-free baseload power, major supply constraints from the world's largest producers, and a global policy shift toward nuclear energy as a cornerstone of the clean energy transition. According to market data, the uranium ETF (URA) traded up 4.1% on July 30.

Evolution Mining: $149 Million Carnaby Acquisition Adds Copper-Gold

Evolution Mining agreed to buy Carnaby Resources in an all-stock deal valued at about A$213 million (US$149 million) that would give the Australian gold producer a foothold in copper-gold exploration. The transaction, announced Tuesday, represents Evolution's strategic pivot toward copper exposure as the metal trades near multi-year highs.

De Beers: Diamond Empire Valuation Collapses to $1 Billion

De Beers, the former diamond monopoly once valued at more than $18 billion (C$25 billion), could sell for about $1 billion as Anglo American nears a deal. The dramatic valuation decline reflects the ongoing challenges in the diamond industry, including competition from lab-grown diamonds and shifting consumer preferences. Anglo American has been under pressure to divest non-core assets following a rejected takeover approach from BHP earlier this year.

What It Means

Today's announcements underscore three powerful themes reshaping the mining sector: permitting reform is delivering tangible results for critical minerals projects, copper exploration continues to deliver world-class grades in established districts, and the nuclear renaissance is driving uranium project construction forward at an accelerating pace.

South32's Hermosa approval demonstrates that the FAST-41 framework can work when companies engage early with communities and regulators. The two-year timeline stands in stark contrast to the decade-long permitting delays that have plagued US mining projects for years. With 57 additional projects now in the FAST-41 pipeline, the industry may finally have a viable pathway to develop domestic critical minerals supply chains.

Meanwhile, copper remains the metal to watch. According to market data, copper miners (COPX) gained 2.8% on July 30, with prices holding above $6.40 per pound despite broader market volatility. NGEx's continued success at Lunahuasi and Selkirk's resource expansion at Minto highlight the enduring appeal of high-grade copper deposits in stable jurisdictions—particularly as the energy transition drives structural demand growth.

The collapse of Zijin's Allied Gold acquisition, however, serves as a reminder that geopolitical headwinds continue to complicate cross-border M&A, particularly for transactions involving Chinese state-backed buyers. That Zijin still invested $295 million for a minority stake suggests strategic buyers remain committed to securing exposure to quality assets, even when full acquisitions prove impossible.

This roundup covers press releases published on July 30, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.