Episode Details

Today on The Mining Insider: 1. US-Iran Hormuz Ceasefire Deal — US and Iranian negotiators reached tentative agreement on a 60-day memorandum of understanding: Iran removes mines within 30 days; US lifts naval blockade of Iranian ports and provides limited sanctions waivers on Iranian oil sales; framework opens pathway to nuclear talks. Trump had not yet approved as of May 29. Iran's Tasnim News said text not yet finalized. If completed: most significant development since the conflict began February 28. Prediction markets: 45% chance of permanent deal by June 30. For mining: energy cost relief on diesel, explosives, shipping rates, and risk premiums on crude/copper. 2. DRC Rubaya Coltan Mine — Congolese army (FARDC) launched second offensive on May 18 to retake Rubaya mine (controlled by M23 since April 2024). M23 repelled the offensive, recaptured dozen+ villages by May 26. Rubaya produces est. 15–30% of global coltan supply. UN: M23 earns $800K+/month from mine levies. Trump-linked consortium, Mercuria, and US-backed TechMet all in talks to invest. Rubaya at center of US-DRC minerals-for-security diplomacy; discussed in US/Swiss-M23 peace talks May 26-27 in Rwanda. 3. Sunshine Silver Mining IPO — Filing for NYSE IPO under ticker SSMR. Plans to sell 20M shares at up to $16.50/share to raise up to $330M. Proceeds to restart Sunshine Mine in Idaho's Coeur d'Alene district — historically among the world's richest silver belts. Electrum Group retains 50%+ ownership post-IPO. Silver trading near $75/oz; most primary silver miner AISC: $15–20/oz. Rick Rule (Kitco Mining): 'silver miners are on the brink of a breakout.' 4. Perpetua Resources $2.9B Ex-Im Loan + Carney Minerals Pitch — Perpetua (NASDAQ: PPTA) received unanimous approval from Ex-Im Bank Board for $2.9B senior secured loan for Stibnite Gold and Antimony Project (Idaho) — only large-scale domestic US antimony source. Loan expected available 2H 2026. Canada's PM Carney pitched US on closer aluminum, autos, and minerals ties; described Canadian aluminum exports as 'the energy equivalent of 10 Hoover Dams.' Sources: Reuters (Hormuz/ceasefire); Critical Threats Africa File May 28 (Rubaya/M23); Kitco Mining/Rick Rule (Sunshine Silver IPO); MINING.COM/Perpetua Resources/Bloomberg (Carney)