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Canadian Chrome Company has formed an initial steering committee with three Indigenous representatives to advise on its Ring of Fire mining assets in Northern Ontario. The members are Theresa Okimaw-Hall, Lawrence Baxter, and Vida Baxter. Their participation is personal and does not represent the official positions of Attawapiskat First Nation or Marten Falls First Nation.

The Ring of Fire is a remote mineral belt in the James Bay Lowlands that contains deposits of critical minerals, including chromite, nickel, copper, and platinum. The company wants Indigenous perspectives to be heard before any transaction involving the sale of the company or its assets is settled. CEO Frank Smeenk said the three appointees are the start of that advice.

The announcement follows a review of strategic alternatives, including a possible sale of the company or its assets. Canadian Chrome Company holds a 90% joint-venture interest in the Koper Lake project and a 30% interest in the Big Daddy project. Neither project has completed a pre-feasibility or feasibility study, and no additional economic analysis was disclosed. The company plans to make a presentation for prospective buyers, merger partners, or funding sources.

Boron One Holdings has updated the economic study for its Piskanja boron project in Serbia. The new preliminary economic assessment shows an after-tax internal rate of return of 89%, up from 79% in a 2022 study. At a 10% discount rate, the after-tax net present value rises about 6% to $558.8 million from $524.9 million. Average annual gross revenue is projected at $140.4 million, up from $126 million. Initial capital costs remain $79.9 million, and payback is expected within a year of commercial production. The proposed mine life drops to 13 years from 16 years, while average annual EBITDA falls to $87.7 million from $91.3 million. The study excludes inferred resources and remains preliminary.

The project is in southern Serbia, about 160 km south of Belgrade by road. Measured and indicated resources total 7.1 million tonnes grading 32.4% boron trioxide, containing 2.3 million tonnes of the compound. A 2022 estimate had 6.9 million tonnes grading 34.4% boron trioxide for 2.36 million contained tonnes. The deposit contains colemanite, ulexite and howlite in sedimentary rocks. Boron One plans further work toward a feasibility study and eventual construction of an underground mine. A binding offtake agreement signed in May covers at least 25,000 tonnes of boron products annually for three years from the start of production, with an option to increase to 50,000 tonnes. The buyer is unnamed and the commitment depends on permits and a plant qualification trial.

Boron is considered a critical mineral in the United States, the United Kingdom and the European Union, but not in Canada. Its compounds are used in fertilizers, specialty glass, ceramics, fibreglass insulation and as electrolyte additives in some electric vehicle batteries. Turkey and the United States are the world's largest boron producers. Turkey holds an estimated 950 million tonnes of reserves, expressed as boron trioxide content, the largest of any reporting country. Other significant producers include Bolivia, Chile, China and Peru.

The new study assumes prices of $650 per tonne for sales-grade colemanite and ulexite concentrates and $1,000 per tonne for technical-grade boric acid. Capital and operating cost estimates have an accuracy range of plus or minus 35%. All-in sustaining costs are estimated at $231.44 per tonne of product, and sustaining capital over the mine life is forecast at $38.1 million. The revised plan changes the product mix. Average annual commercial production is projected at 157,600 tonnes of colemanite and 83,800 tonnes of ulexite, alongside 25,000 tonnes of boric acid. The 2022 study had forecast about 258,300 tonnes of sales-grade colemanite and 25,000 tonnes of boric acid annually. Shares of Boron One last closed at C3 cents in Toronto, giving the company a market value of about C$9 million. The stock has traded between C2.5 cents and C9.5 cents in the past year.

Hycroft Mining has drilled the highest gold grades yet at its Nevada mine, extending a high-grade zone that could support underground production. One hole, H26D-6175A, cut 19.6 metres grading 30.49 grams gold per tonne and 1,726.72 grams silver from 416.5 metres at the Vortex system. A narrower interval within the hole graded 347.07 grams gold and 9,526.36 grams silver over 1.7 metres, and visible gold was observed in the core. The true width of the interval was not reported.

The results extend high-grade mineralization west and south of earlier intercepts, and follow-up drilling is underway. Vortex and the nearby Brimstone system are the focus of underground studies, with measured and indicated resources of 18.1 million tonnes grading 154.71 grams silver and 0.512 gram gold per tonne. That equals 90.2 million ounces of silver and 299,000 ounces of gold. Underground mining could bring richer material into production before a much larger open-pit project is developed.

Hycroft has hired Respec to develop a conceptual underground mine plan and assess a ramp for drilling and possible future mining. Hatch is evaluating processing options, with metallurgical testing by Hazen Research. The underground concept would produce a concentrate for possible sale to third parties. BMO Capital Markets analyst Brian Quast sees the underground option as potential upside and estimates the larger milling project would cost about $3.4 billion. He has a $24 share-price target and a market perform rating.

A decision on restarting heap leaching could come by year-end, according to BMO, with about $10 million in refurbishment spending in the first half of next year and first production in the third quarter. Hycroft has not committed to that timetable. For the larger milling project, BMO models construction beginning in 2029 and first production in 2031, averaging about 200,000 ounces of gold and 6.7 million ounces of silver annually over a 51-year mine life. The company held $221 million in cash and no debt at June 30. Its New York-listed shares fell 7.2% to $16.30 on Wednesday afternoon and have traded between $6.48 and $58.73 over the past year, with a market capitalization of $1.5 billion.

Equinox Gold reported a 34% increase in third-quarter gold production after completing its merger with Orla Mining. Output rose to 237,019 oz from 176,836 oz in the previous three months, while gold sales climbed 39.6% to 248,484 oz. The merger, finished in late July, added two months of production from the Musselwhite mine in Canada and the Camino Rojo mine in Mexico. It created a larger North American gold producer with three Canadian mines and a pipeline of development projects.

The combined company is expected to produce 1.1 million oz annually, with growth potential exceeding 1.9 million oz. In the first nine months of the year, Equinox produced 611,483 oz, keeping it on track for full-year guidance of 870,000 to 920,000 oz. Meeting that target would require fourth-quarter output of about 258,500 to 308,500 oz. Canadian operations delivered solid results, led by strong performance at Musselwhite and improvements at Valentine and Greenstone. At Valentine, the average gold grade fed to the mill exceeded 1.8 grams per tonne.

The company also advanced its South Railroad gold project in Nevada, securing a federal record of decision and final federal permits while starting early construction. A feasibility study outlined average annual production of 130,000 oz during the first five years at all-in sustaining costs of about $1,500 per oz. The project is expected to produce more than 100,000 oz annually over an initial 10-year mine life, with first gold scheduled for 2028. The near-term challenge is to turn the enlarged asset base into higher production, with operational improvements at Valentine and Greenstone critical to meeting targets.

The U.S. government is using the Defense Production Act to support an expansion of a Delek refinery in Tyler, Texas. Vice President JD Vance announced the move, saying it aims to produce millions of gallons of commercial-grade and military-spec fuel. The law, created in 1950, lets the president direct private companies to produce critical materials for national defense and emergencies. No timeline or production volumes were given.

The action comes as fuel prices remain extremely high. The national average for regular gasoline reached $4.34 per gallon, the first October on record above $4. Diesel averaged $6.28 per gallon, down slightly from a week earlier but far above $3.65 a year ago. The administration has considered or announced other steps, including a diesel export ban that was ruled out and a deal with Vladimir Putin for Russian diesel.

The global diesel market is very tight. Middle East conflict has limited fuel flows through the Strait of Hormuz, and Russian refineries are struggling because of Ukrainian drone attacks. The U.S.-Russia diesel deal would cover 35.76 million barrels, about 10 days of U.S. diesel demand or just over one day of global demand. Analysts say it is unlikely to bring much relief. Wholesale diesel prices spiked again, with New York and London benchmarks trading around $200 per barrel.

Analysts expect high diesel prices to persist. Tom Kloza of Gulf Oil called the wholesale price spikes stunning and said the market does not believe Russian oil is coming. Patrick De Haan of GasBuddy said $6 per gallon diesel may stay for now, with no quick relief for truckers and farmers. The record retail diesel price of $6.53 per gallon could be topped by the midterm elections. The refinery expansion is unlikely to add enough fuel before the November 3 elections to lower prices.

U.S. crude oil inventories fell sharply, according to an industry estimate, dropping 11.12 million barrels in the week ending October 9 after a 2.09 million-barrel decline the week before. Commercial crude stocks excluding the Strategic Petroleum Reserve have fallen by more than 51 million barrels over the past 26 weeks, but total U.S. crude inventories are still close to where they were at the start of the year, partly because releases from the reserve have helped offset commercial draws.

The Strategic Petroleum Reserve did not release any oil during the week ending October 9, leaving it at 283 million barrels. That is far below its maximum capacity and near the 250-300 million-barrel range that is generally considered the minimum needed to pump and process oil efficiently. U.S. oil production rose to 13.979 million barrels per day in the week ending October 2, up slightly from the prior week and 350,000 barrels per day higher than a year earlier.

Oil prices were higher over the week. Brent crude traded at $106.02, up $5 per barrel from a week earlier. West Texas Intermediate traded at $95.75, up $0.93 on the day and nearly $6 over the week. Gasoline inventories rose by 1.1 million barrels in the week ending October 7 after falling the week before. Distillate inventories fell by 1.5 million barrels after a prior increase and were 12% below the five-year average, while gasoline stocks had been 6% below the five-year average in the prior week.

Inventories at Cushing, the delivery hub for WTI crude futures, increased by 1.823 million barrels after a gain of 866,000 barrels in the previous week. Overall, the data show a large crude draw, a reserve near operational limits, rising production, mixed refined-product inventories, and stronger oil prices.

Copper prices slipped from a three-week high after stronger US inflation data increased expectations that the Federal Reserve could raise interest rates again this month. December Comex copper fell 0.8% to about $6.6695 a pound after touching $6.7890, while three-month London copper reached $14,700 a tonne before easing to $14,532. A preliminary deal to avoid a strike at BHP's Escondida mine, the world's largest copper mine, also removed some supply concern. Labor issues remain elsewhere: workers at Antofagasta's Centinela returned to talks after a week-long stoppage, and Codelco's El Teniente open pit stayed closed after a deadly landslide.

US consumer prices accelerated in September because of higher gasoline costs, and market odds for a quarter-point Fed hike at the late-October meeting doubled to about 44%. New York Fed President John Williams said he still expects one more increase this year. Meanwhile, Escondida supervisors were voting on a tentative agreement that a union leader described as nearly complete. LME copper inventories fell for a seventh straight session to 229,650 tonnes, and cash copper set records earlier in the week.

Forecasters are raising copper price outlooks. Macquarie sees near-term surpluses and warns that prices have disconnected from fundamentals, with US tariff decisions creating a binary outlook. BMO Capital Markets argues that a large US copper stockpile and lower Chinese imports reflect a geographic shift rather than a true surplus, and it expects long-term prices to reach $16,000 a tonne in real terms. BMI expects a deficit from 2027, while Deutsche Bank's Daniel Ghali warns the US and China could hold 71% of world supply by the end of the year and copper may be unavailable to other users by 2028, with prices potentially hitting $10 a pound in 2027.

Copper miners moved lower with prices but have posted strong yearly gains. Southern Copper, Glencore, BHP, Freeport-McMoRan, Teck Resources, and Anglo American are up sharply this year, while Lundin Mining, Antofagasta, and First Quantum have lagged. RBC Capital Markets calculates that North American producers' valuations imply a copper price near $5.03 a pound, below the futures price near $6.70. The main debate is whether US tariff policy will release or lock up metal, and how quickly new mine supply and demand from grids, electric vehicles, and data centers will balance the market.

President Donald Trump announced that Taiwan will buy between $70 billion and $80 billion worth of liquefied natural gas from Alaska over 20 years and invest $4.4 billion in the planned Alaska LNG project. Taiwan would take 30% of the project's output. Taiwan's Ministry of Economic Affairs later confirmed plans to buy about 6 million metric tons per year and invest up to $4.4 billion, but it did not confirm a binding agreement. Ownership stakes and commercial terms are still subject to negotiation, and deliveries could begin in 2032 if construction stays on schedule.

The Alaska LNG project is led by Glenfarne Group. It would move natural gas from Alaska's North Slope through a roughly 800-mile pipeline to a liquefaction terminal on the southern coast. The terminal is planned to export 20 million metric tons per year. Its location offers Asian buyers a Pacific shipping route that avoids the Strait of Hormuz, a chokepoint that has become more dangerous after the Iran war disrupted LNG shipments. Asian importers are increasingly focused on supply security rather than lowest cost.

However, Alaska's difficult terrain and high pipeline costs may weaken the project's advantage. Capital costs are approaching $2.7 billion per million tonnes of annual LNG capacity, and the total project price tag is estimated at $44 billion to $55 billion. On a capacity-adjusted basis, those costs could be more than double those of competing U.S. Gulf Coast projects. South Korea was earlier described by Trump as planning to invest $50 billion to $54 billion in Alaska LNG, but Seoul challenged that account. South Korea's industry minister, Kim Jung-kwan, said the country has not committed to the investment and that participation depends on commercial viability and domestic procedures.

The project still needs binding supply agreements, committed financing, and final investment decisions. Political momentum for the Alaska LNG vision is growing, but its commercial future remains uncertain. For Taiwan and South Korea, avoiding the Strait of Hormuz is a clear attraction. The central question is whether that geopolitical benefit justifies tens of billions of dollars in additional investment.

The International Council on Mining and Metals has chosen Froydis Cameron-Johansson as its next president and CEO. She becomes the first woman to lead the organization. She will take over on Nov. 23 from Rohitesh Dhawan, who has led for five years and will help with the transition.

Cameron-Johansson brings experience from senior roles at Rio Tinto and Anglo American and began her career at Shell. The council said she was selected after a competitive process. Its chair, Iván Arriagada, called her an outstanding candidate with passion for mining, sustainability and delivery.

The organization focuses on responsible production and value chains for critical metals and minerals. It works to strengthen mining standards and show the industry's contribution to economic development while addressing environmental and social concerns. During Dhawan's tenure, efforts advanced to create the Global Tailings Management Institute and the Consolidated Mining Standard Initiative.

Cameron-Johansson said responsible mining and metals have never mattered more. She aims to build trust, improve performance, and show how responsible mining can contribute. Dhawan will support the leadership change until the end of the year.

Plans to allow more oil and gas drilling at two North Sea sites, Jackdaw and Rosebank, have been delayed. The delay stems from government procedures and lengthy bureaucracy, according to Prime Minister Andy Burnham. The sites were blocked by Scottish courts in 2024 on environmental grounds, and energy companies have been waiting for a decision.

Energy secretary Miatta Fahnbulleh is expected to decide within weeks whether to approve drilling. The projects would be run mainly by Shell and Equinor. The decision must balance economic growth against environmental promises. The former Conservative government had approved both fields, but the current Labour government had promised not to issue new oil and gas licences.

At Prime Minister's Questions, Conservative leader Kemi Badenoch urged Burnham to stop delaying and let energy bosses proceed. Burnham said the government process had to be fixed after courts struck down the previous approval, and he would take a pragmatic approach. Equinor chief executive Anders Opedal warned that rejecting the projects would hurt the UK's attractiveness to investors.

A report by Public First, commissioned by Adura, a joint venture between Shell and Equinor, says the two projects could add £35bn in value to the UK economy between 2026 and 2035. They could also generate £12.1bn in extra tax revenues over the next decade. Jackdaw could start production this winter if approved, because much of its infrastructure is already in place.