Greenland, India, Saudi Arabia—this week’s focus was on emerging players in the critical minerals sector. While Greenland in the high North could emerge as a mining hub, India pushes forward with deep-sea mining. Set in between, the Kingdom of Saudi Arabia inked deals worth billions to develop its domestic mining sector—the details in our roundup.
Rare Earths and Gallium: Is Greenland the Key to Future Resource Security?
The Tanbreez deposit in Greenland is considered a promising candidate for reducing global dependence on China for rare earth supplies. Its potential has now grown even further: according to Critical Metals Corp, the majority owner of the deposit, drilling has uncovered one of the world’s highest concentrations of gallium.
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Deep-Sea Mining: India to Auction Off First Tranche of Mineral Blocks
India launched its first-ever auction of offshore mineral deposits on Thursday. The auction comprised 13 blocks spread across the Arabian and Andaman Sea, consisting of construction sand, lime mud, and polymetallic nodules. These nodules mainly contain manganese and iron oxide but also metals like nickel, cobalt, lithium, and rare earth elements.
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Rare Earths, Copper, Platinum: Saudi Arabia Inks Major Mining Deals
Saudi Arabia has signed multiple deals with international companies to accelerate the development of its mining and metals sector. Nine agreements worth a combined $9 billion were finalized during the World Investment Conference in Riyadh. These deals include Australian rare earth miner Hastings, which will build processing facilities for its Yangibana project.
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China Pledges to Safeguard Stability of Global Supply Chains
China pledges to contribute towards upholding the stability of international supply chains, Premier Li Qiang said at a conference in Beijing. Li highlighted China’s role as a key link in global supply chains and vowed that the People’s Republic would take necessary actions to ensure their stability and work with international partners to transform and upgrade them.
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