KoBold Metals’ Post

#SUERFpolicybrief: "Capital in the Twenty-First Century: Who owns the capital of firms producing critical raw materials?" by Violaine Faubert (Banque de France) Nathan Guessé, and Julien Le Roux (Banque de France, ECB). The #energytransition will require large quantities of #criticalrawmaterials (CRMs). Against this backdrop, the European Union (EU) has recently enacted legislation aimed at increasing the security of its supplies of critical raw materials (Critical Raw Materials Act, 2024). However, mining and processing of CRMs is geographically concentrated in countries that are geopolitically distant from the EU. While the geographical concentration of resources is well documented (Buysse and Essers, 2023; IRENA, 2023; Javorcik et al., 2023), ownership interests in extractive companies are less so. Yet documenting the sources of control of mining companies is essential for assessing strategic dependencies. In a recent paper, we show that investors from outside the European Union control a significant share of the capital of global listed companies involved in the mining of cobalt, copper, lithium, nickel and rare earths. Our results underscore the need to enhance the EU’s strategic autonomy and point to the need for a metal-specific strategy. 📄 https://lnkd.in/gy_FVAMV

The original U.S. Bureau of Mines was established on July 1, 1910, under the Department of the Interior. Its primary mission was to ensure the nation had adequate supplies of nonfuel minerals for national security and other needs. The Bureau’s work included research on the extraction, processing, use, and recycling of nonfuel mineral resources, while minimizing environmental impacts and protecting workers. It also collected and published statistical and economic information on all phases of nonfuel mineral resource development. However, in 1996, during a period of budget cuts, the USBM was closed down, facing significant backlash as critics argued that the nation was downsizing scientific research and funding. Both the American Exploration & Mining Association and the National Mining Association have announced plans to advocate for reviving and expanding the U.S. Bureau of Mines and BIOBY is 100% supportive of their efforts. Agencies like the United States Department of Defense and the U.S. Department of Energy (DOE) of Energy have been supporting various projects across the U.S. targeting critical minerals including Perpetua Resources's Stibnite Gold Project out of Idaho and Talon Metals Corp.'s proposed battery minerals processing facility in North Dakota. Reviving the bureau could offer a cohesive strategy where agencies are fully aligned on their critical minerals policy, covering permitting, research funding, and industry grants. Learn more below: https://lnkd.in/ghxnMEGb

It’s not only additional mining but also processing, smelting and refining capacity that are needed! This means investment in operations, education, and technology as well as a path for permitting facilities that is less than the 10 (or more) years that it currently takes. We also have to do better at making sure the public understands that you have to mine where the minerals are and that multiple use in public land mandates includes mining as a use.

I am pleased to announce the publication by Earth Science, Systems and Society of an online article written by myself and Ruth Allington (PERC Trustee and GSL President).  Title: Mineral Reporting Standards: PERC’s Role in CRIRSCO and Its Relevance to the European Mining Sector Authors: Edmund Sides and Ruth Allington Contents: This article provides an overview of the CRIRSCO family of reporting codes and standards.  An introduction to the different types of reporting standards used in the minerals sector is provided along with a history of the development of CRIRSCO. The contents and purpose of the CRIRSCO International Reporting Template are illustrated using examples based on the PERC Reporting Standard 2021. Current concerns and developments related to minerals reporting are also discussed, including competency, the reporting of environmental, social and governance (ESG) aspects and the relationship between the CRIRSCO Template aligned codes and standards and the United Nations Framework Classification (UNFC). The article is based on an online presentation which was presented on 19th October 2020 to a virtual conference entitled: “Mineral resource estimation: recent advances and current best practice” which was organised by the Geological Society of London, but the scope of the article has been expanded and broadened considerably.  The article can be accessed using the following link: https://lnkd.in/dv3exQEF

A.I. TECHNOLOGY UNCOVERS VAST COPPER DEPOSIT IN ZAMBIA Last year in California, data scientists peered into their screens and witnessed a remarkable revelation: a massive copper deposit deep in Zambia’s bedrock. This discovery, driven by years of A.I.-based research, marks a significant milestone for KoBold Metals. On Thursday, KoBold announced this potentially largest copper discovery in over a decade. Estimates reviewed by The New York Times suggest the mine could produce at least 300,000 tons of copper annually, translating to billions of dollars over decades. An independent third-party assessment largely confirmed the size of the deposit. KoBold anticipates…READ MORE HERE https://lnkd.in/dBZx2ADF

In the rush to extract the materials needed for the energy transition, good resource governance mustn’t be compromised. There is concern that the transition heightens the risk that contracts between companies and host countries will be hastily entered in to. This could lead to contracts containing terms that mean that local communities do not see the full benefits mining can bring. This paper from ICMM and EITI (Extractive Industries Transparency Initiative) examines how the transparent disclosure of contracts can increase stakeholder trust and confidence, lead to enhanced mineral resource governance, and to better economic and social outcomes for local communities.

OK, mineral reporting standards... if you're thinking "been there, know the matrix, all handled thanks" please consider: 📶 Critical minerals often come in smaller, more complex deposits than those we've focused on for decades, and will be exploited by a wider variety of companies in size and funding approaches - building confidence in how these deposits are assessed, valued and structured will continue to require strong consensus on the rules of the game ✳ Reporting standards evolved to (re)create trust between promoters and their investors - we now have many, many other stakeholders participating in the conversation: these rules are an important tool to build a shared vocabulary, foster understanding and facilitate agreement on prioritisation (yes, I'm thinking of policy papers that refer to "reserves" as if numbers magically appeared on a spreadsheet 😥) 📈 At a time when policy shapers want to believe that their interest creates a market and directs investment, noise is increasing but feasibility is more complex than ever - the rush on Strategic Projects as the CRM Act is implemented, rising expectations in resource-rich countries and the push for public funding of upstream growth create a perfect nexus for expensive mistakes: now more than ever we need to ensure that market expectations and investment requirements are clear and drive decision-making, including policy choices Then have a quick refresh ... and send it to 3 contacts who need a decoder! Thanks to Ed Sides and Ruth Allington for reminding us that the basics still hold - and are more relevant than ever ! #responsibleinvestment #responsiblemining

$ARR - Morgan Stanley analyst Carlos de Alba recently conveyed his optimistic outlook for the US metals and mining sector to clients. He highlighted that investment levels in the industry have reached their lowest level in decades. He believes the sector is poised for massive investments and outlines the companies that will benefit. Carlos names American Rare Earths as one of the companies that should interest US Investors. Read More https://lnkd.in/gaupK6zY $ARR Ken Traub John Mansanti Geoffrey Hill Christopher Gibbs Melissa Sanderson Sten Gustafson Paul Zink Donald Swartz Dwight Kinnes Jose A. Rico Wayne Kernaghan SUSAN ASSADI Richard Hudson Kayla Y. Y

In Defense One, Morgan Bazilian and I argue that the West’s efforts to build new mines and refineries for critical minerals will be challenging given the geological constraints with mining and the technological obstacles with refining. https://lnkd.in/e8bdGn_m To build more mines, companies need profitable deposits, which depend greatly on scale and grade. In the West, most large-scale, high-grade deposits have been discovered or are being mined. The Voisey's Bay discovery in 1993 was arguably the last major nickel sulphide discovery in the West. To build more refineries, companies in the West need the requisite technology. Yet, they often lack the appropriate technology as they ceded the processing in their mineral supply chains to China. With high-pressure acid leaching, for example, Western-run plants often bust budgets, fail to commission on time, and miss production targets. However, Western companies are making advances in mineral extraction and processing—often with government support, such as grants for exploration, loans for processing, and research funding for novel extraction and refining methods. The US Department of Defense, especially Manufacturing Capability Expansion & Investment Prioritization (MCEIP), has been the most active government department. While Western countries currently lack sufficient reserves to satisfy their total mineral demand, they could aim to increase mineral extraction and processing capacity to volumes that meet a good portion of their defense industries’ mineral demand given the national security implications.

Litchfield Minerals Investor Podcast Curious about the latest breakthroughs in mineral exploration? This episode of ASX Briefs has you covered as we sit down with Matthew Pustahya, the Managing Director of Litchfield Minerals Limited Minerals, for an in-depth update on their ambitious exploration projects in the Northern Territory. Matthew shares the triumphs and trials from recent drilling activities at Silver King, Copper Flats, and Mount Irene, and reveals the promising finds of lead, zinc, and silver at Silver King. Discover what technical successes they achieved and the challenges that remain, all while gaining a deeper understanding of how their geological insights are shaping future endeavors. #MountDoreen #LucyCreek #LMS #ASXBriefs