Mining Press Roundup: USA Rare Earth Locks Down $1.6B in Federal Funding

USA Rare Earth (Nasdaq: USAR) finalized definitive agreements with the U.S. Department of Commerce on Wednesday, unlocking access to up to $1.6 billion in CHIPS Act funding—comprising up to $277 million in federal grants and up to $1.3 billion in senior secured loan capacity . The deal marks a major milestone for domestic critical minerals production and positions the company to build one of the largest integrated rare earth value chains outside China. Combined with a $1.5 billion private placement closed in January 2026, the agreements bring total committed capital supporting USA Rare Earth's growth plan to approximately $3.5 billion .

USA Rare Earth: Federal Backing for Domestic Rare Earth Supply

The definitive agreements establish the framework under which USAR will continue to build out its integrated heavy rare earth mining, metal, and magnet global value chain . Funding will be disbursed in phases, tied to the Company's achievement of project milestones, and is structured to reimburse capital expenditures incurred in executing USAR's business plan .

The funding package represents one of the largest federal commitments to critical minerals infrastructure under the CHIPS Act. Prior to the definitive documents, USA Rare Earth closed $1.5 billion in private capital raise, signed certain strategic customer agreements, and advanced Round Top —the company's flagship project in Texas. The deal underscores Washington's push to reduce dependence on Chinese rare earth supply chains, which currently dominate global production of materials essential for semiconductors, defense systems, and clean energy technologies.

Hycroft Mining: $4.3B Nevada Project Gets Economic Blueprint

A new study for Hycroft Mining's (Nasdaq: HYMC) namesake gold-silver project in Nevada gives it a base case value of $4.3 billion and a half-century mine life, placing it in the top tier of undeveloped precious metals sites in Nevada . The post-tax base case net present value (discounted by 5%) assumes prices of $3,600 per oz. gold and $48 per oz. silver for the past-producing project, and includes initial costs of $2.4 billion, according to the S-K 1300 report released this week .

The report estimates a post-tax internal rate of return of 16.9% and a payback period of 4.7 years . At spot prices as of late May, the economics improve dramatically: at spot prices as of May 25, 2026 ($4,569 per ounce gold and $77.94 per ounce silver), the post-tax NPV increases to $10 billion with an IRR of 30.1% .

CEO Diane Garrett said in a release the project "delivers strong economics and significant leverage to rising gold and silver prices, reinforcing Hycroft's position as one of the sector's most compelling large-scale development opportunities, located in a Tier 1 jurisdiction" . Hycroft produced more than 1.5 million oz. gold since mining began there in the 1980s. Operations were suspended in 2021 . The company, backed by Canadian mining billionaire Eric Sprott, now has a market capitalization of nearly $3 billion, according to market data.

Tintina Mines: $91M Backing from Sumitomo and Gignac Family

Tintina Mines (TSXV: TTS) surged to a 17-year high after it secured a $91 million (US$65.7 million) investment backed by Japan's Sumitomo Corp. and the Gignac mining family to fund the development of its main Domeyko Sulfuros copper-gold asset as well as consolidate the project's ownership . In a statement on Tuesday, the Chile-focused junior said the parties are among the investors joining a private placement of subscription receipts priced at C68¢ each. The receipts will be offered in two tranches, each with a different type. The first – totalling $62 million – has both common shares and warrants of Tintina, while the second comprises only common shares totalling $29 million .

Of the $91 million in proceeds, about $55 million will go towards advancing Domeyko Sulfuros towards a final investment decision (FID), Tintina said, while the remaining $36 million will be used to buy out the minority shareholders of the project . According to a company statement, "Domeyko Sulfuros is precisely the kind of opportunity the Gignac family has been seeking, a copper-gold porphyry, and with a clear pathway to development" .

The deal brings together two major players in copper development. According to Claude Dufresne, CEO of GMC, the platform was established as "an origination and business development platform of Sumitomo and G Mining Services", a Canadian mining consultancy firm led by Louis Gignac Sr. and his three sons. The platform "was mandated to source and evaluate high-quality copper opportunities and, once identified, to draw on the broader 'in-house' capabilities to advance them through development and into production" .

DPM Metals: High-Grade Discovery Near Bulgaria Mine

Canadian producer DPM Metals (TSX, ASX: DPM) said new drilling at its Brevene South Porphyry (BSP) site in Bulgaria yielded a major gold-copper discovery about 1 km from the Chelopech underground mine's reserve footprint . Standout hole EX_BRESPO_03 cut 713 metres grading 1.31 grams gold per tonne and 1.16% copper from 1,172 metres downhole, DPM said Wednesday in a statement. Within that interval, DPM cut 398 metres of 1.48 grams gold and 1.45% copper from 1,487 metres depth .

The results distinguish BSP "as a potentially very high-grade porphyry system," RBC Capital Markets mining analyst Harrison Reynolds wrote in a note . Shares of DPM rose 3.9% to $47.75 Wednesday morning in Toronto, valuing the company at about $10.6 billion (US$7.7 billion) .

Located about 75 km east of Sofia, Chelopech is one of Europe's highest-grade operating gold-copper mines. In commercial production for more than two decades, it serves as the company's main asset . DPM has mobilized five high-capacity drill rigs to the BSP target. It plans up to 15,000 metres of additional drilling by the end of the year "with the key question being whether continuity and geometry can be confirmed to support a resource," Reynolds said .

Goldman Sachs: Copper Supply Outlook Slashed

Goldman Sachs has raised its year-end copper price forecast by more than 10%, now expecting copper to reach $13,735 per ton compared to its previous estimate of $12,465 per ton, citing lower mine production expectations and tighter market conditions outside the United States. The bank said it reduced its forecast for global mine supply in 2026 by 350,000 tons following production disruptions at the Grasberg mine in Indonesia and the Kamoa-Kakula mine in the Democratic Republic of Congo. It added that neither operation is expected to return to full production capacity before 2028 .

Stronger-than-expected US copper imports also prompted the bank to raise its estimate for the copper market deficit outside the United States to 640,000 tons, up from a previous forecast of just 60,000 tons . The revised outlook reflects mounting concerns about copper availability as demand from electrification and grid expansion accelerates while major mines face extended delays.

The copper market has been trading near record highs in recent weeks. According to market data, the COPX copper miners ETF traded at $89.69 on Wednesday, down 0.6% on the day but still elevated compared to historical levels. The supply squeeze comes as the energy transition drives structural demand growth for the red metal.

Aya Gold & Silver: Bonanza Silver Hits in Morocco

New drilling at Aya Gold & Silver's (TSX, Nasdaq: AYA) Zgounder mine in Morocco yielded several bonanza hits near and below the limits of the current open pit. The standout intercept came from underground hole T28-26-1248, which cut 8 metres of 2,176 grams silver per tonne from 8 metres downhole, including 4 metres of 4,298 grams silver from the same depth, Aya said Tuesday in a statement . Hole ZG-RC-26-946 in the open-pit area cut 6 metres grading 1,867 grams silver from 96 metres depth .

Zgounder is one of the world's few silver-only operations, generating all its revenue from silver doré production. The mine, whose operating life is projected to run until 2036, produced 4.8 million oz. of the metal last year . Aya has finished about one-third of its planned 30,000-metre exploration program at Zgounder this year .

Scotia Capital mining analyst Eric Winmill said in a note that "continued high-grade intercepts across the open pit, central zone, and Western Fault contact reinforce the strong continuity of silver mineralization at Zgounder at depth and along strike" . Aya shares rose 2.5% to C$29.36 in early afternoon trading Tuesday in Toronto, valuing the company at about $4.2 billion (US$3 billion) .

Orla Mining: Mexico Operations Set to Resume

Orla Mining (TSX: OLA; NYSE: ORLA) said operations at its Camino Rojo gold mine in Mexico are poised to resume in the next few hours as the company works to end an illegal blockade that halted production earlier this week . Talks with union representatives and labour authorities have advanced following a meeting with Mexico's Department of Federal Labour Conciliation, Vancouver-based Orla said Thursday in a statement. All parties agreed "that the blockade is illegal and falls outside the bounds of the collective bargaining framework," Orla said .

The disruption, which began Monday, forced Orla to suspend operations at its flagship Mexican mine while maintaining essential activities required to protect workers, equipment and the environment . Negotiations on productivity bonus payments will resume once normal mine operations have been restored, Orla said Thursday. Management is "committed to finding a resolution on the productivity bonus discussions," it said .

Located in Zacatecas state, Camino Rojo is one of Mexico's most recent gold mines. The operation consists of an open-pit mine and heap-leach processing facility that achieved commercial production in 2022 . The resolution comes as Orla works toward a merger with Equinox Gold.

What It Means

Today's announcements underscore two dominant themes shaping the mining sector in mid-2026: the race to secure critical minerals supply chains and the persistent tightness in copper markets. USA Rare Earth's $1.6 billion federal commitment represents the most significant government backing for domestic rare earth production in decades, reflecting bipartisan concern about Chinese dominance in materials essential for semiconductors and defense. The deal validates the strategic importance of reshoring critical minerals processing—even at substantial cost.

Meanwhile, copper continues to command attention as Goldman Sachs' 350,000-tonne supply cut highlights how quickly the market can tighten when major mines stumble. With Grasberg and Kamoa-Kakula delays pushing recovery timelines to 2028, and U.S. stockpiling creating a 640,000-tonne ex-U.S. deficit, copper's structural deficit story is gaining credibility. Tintina's $91 million raise and DPM's Bulgaria discovery both speak to capital flowing toward copper-gold assets in stable jurisdictions—exactly what the market needs as electrification demand accelerates.

Precious metals projects are also attracting fresh capital, with Hycroft's $4.3 billion base case valuation and Aya's bonanza silver grades demonstrating that high-quality deposits in Tier-1 jurisdictions can still command premium valuations. Gold traded at $4,457 per ounce on Wednesday according to market data, down slightly but still near record territory—providing a supportive backdrop for development-stage gold projects with compelling economics.

This roundup covers press releases published on June 4, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.