Mining Industry Monthly
Global Analysis for Mining Professionals — March 2026 Edition
Published 31 March 2026 · Covering Critical Minerals · M&A · Technology · Safety
March 2026 delivered a month of extraordinary strategic movement across the global mining sector. From escalating geopolitical battles over critical mineral supply chains to landmark M&A activity, from groundbreaking AI adoption to devastating safety incidents, the industry is navigating one of its most consequential periods in decades. Here is our curated briefing.
Critical Minerals Geopolitics & Corporate Strategy
$100B US Ex-Im Bank lending authorised for critical minerals
384 New mines needed by 2035 for EV supply alone (Benchmark Mineral Intelligence)
90% China's share of global rare earth processing
Geopolitics
Governments move to take direct stakes in mining as supply chain vulnerability deepens
A pivotal March analysis from Chatham House concludes that market-oriented governments are making a decisive shift: moving from incentivising private actors toward taking direct financial stakes in mining operations to influence supply. The contrast was sharpest in the case of Imerys Lithium — its UK project was placed on care and maintenance due to financing constraints in February, while the Banque des Territoires, acting for the French government, acquired a minority stake in Imerys' French project, which then survived. The US continues to lead, leveraging $15 billion in Ex-Im Bank letters of interest and $7 billion in Department of Energy loans to anchor domestic critical minerals production.
Supply Chains
China's antimony play: state-linked firm shuts Canada's only antimony mine
In a move drawing international attention, NWT Resources Ltd. — a subsidiary of China's state-linked Bitfury Group — indefinitely idled the Beaver Brook antimony mine in Newfoundland in early 2026, citing "market conditions." The closure raised red flags in Ottawa and Washington, as antimony is classified as critical for both batteries and defence munitions. Antimony prices had already tripled to $25,000 per tonne in 2025 following Beijing's export controls. The episode exemplified a pattern increasingly analysed by policy experts: China acquiring strategic mining assets abroad and then choosing when to run — or halt — them.
Canadian Mining Report · March 2026
Policy
54 nations convene at US critical minerals ministerial; critics flag new dependency risks
Vice President JD Vance called for a "united front" against China's mineral dominance at the February ministerial that set the tone for March discussions. But analysts at Policy Options warned of a paradox: efforts to break China's grip risk creating a new strategic reliance on the US. Writing in early March, University of British Columbia professors Philippe Le Billon and Raphaël Deberdt argued that a credible strategy requires integrated industrial and climate policy — not just summits and stockpiling. Meanwhile, the Global Trade Review reported that Japan's JOGMEC and Iwatani invested €110 million in a French rare earths refining project in March, specifically to bypass Chinese processing infrastructure.
Policy Options · 4 March 2026 Global Trade Review · March 2026
"The Middle East has oil. China has rare earth elements." — Deng Xiaoping, 1992. Three decades later, that quiet declaration has become the most consequential geopolitical reality of our time.
Global South
Developing nations eye the critical minerals moment — but must act strategically
A widely shared March 29 analysis argues that China's dominance over critical mineral processing is simultaneously the "most significant economic and strategic opening in a generation" for the Global South. Countries rich in lithium (Lithium Triangle), cobalt (DRC), and graphite have long shipped unprocessed ore to China, capturing only a fraction of final value. That model is now under pressure from every direction: Western governments desperate to diversify, private capital seeking new projects, and geopolitical dynamics creating room for new partnerships. For South Asia, Africa, and Southeast Asia, the window is real — but only for those with the industrial vision to seize it.
Corporate Moves, M&A Trends & Financial Highlights
$139B Total global mining M&A in 2025 — 35% up on 2024
$260B Failed Rio Tinto–Glencore deal value (abandoned Feb 2026)
$1.5B SSR Mining's Çöpler mine Turkey disposal
M&A
The deal that wasn't: Rio Tinto–Glencore $260B merger collapses for the third time
After reigniting discussions in January 2026 — sending Glencore shares up 10% — the proposed $260 billion combination between Rio Tinto and Glencore was formally abandoned in February, setting the context for a redefined March strategy at both companies. At their core, the talks broke down over valuation of Glencore's copper portfolio and the fate of its coal assets. Glencore has since pivoted hard: announcing a target of approximately 1.6 million tonnes of copper production by 2035 and returning capital to shareholders via a $0.17 per share distribution, even as full-year 2025 profits slipped 6% to $13.5 billion. The collapse marks the third failed attempt over two decades — and leaves both companies to pursue independent copper-led strategies.
Investing News · February 2026 Mining Digital · February 2026
Copper
Hudbay acquires Arizona Sonoran to create North America's third-largest copper district
On 2 March 2026, Hudbay Minerals announced a definitive agreement to acquire Arizona Sonoran Copper Company (ASCU) in an all-share transaction implying C$9.35 per share — a 30% premium to ASCU's pre-announcement price. The deal gives Hudbay 100% ownership of the Cactus Project in Arizona, creating what the company calls one of the most significant copper districts in North America. CEO Peter Kukielski described the acquisition as "highly compelling," noting that it enhances Hudbay's long-term copper production profile and benefits from rising US demand for domestically produced critical minerals. The Anglo American–Teck Resources merger, finalised in late 2025, continues to reshape the mid-tier copper landscape alongside this deal.
SEC Filing — Hudbay · 2 March 2026
Gold
SSR Mining exits Çöpler in $1.5B all-cash deal; Zijin consolidates China's gold sector
SSR Mining announced on 4 March the binding sale of its 80% stake in the Çöpler gold mine in Türkiye for $1.5 billion in cash to Cengiz Holding, one of Türkiye's largest industrial conglomerates. The transaction follows the 2024 landslide at the site and a prolonged restart process, and SSR intends to redeploy proceeds into reinvestment and capital returns. Separately, China's Zijin Mining Group — already among the world's largest gold and copper producers — acquired a controlling stake in Chifeng Jilong Gold Mining for approximately $2.6 billion in the week ending 29 March, consolidating two major Chinese gold producers at a moment when gold prices are near historic highs.
SEC Filing — SSR Mining · 4 March 2026 Intellizence M&A Tracker · 29 March 2026
Critical Minerals
Blue Moon closes Apex germanium and gallium mine acquisition from Teck
On 16 March, Blue Moon Metals completed the acquisition of the Apex Mine from Teck American, receiving 7 million Teck shares as consideration. The Apex Mine is one of the few advanced-stage germanium and gallium projects in a tier-one jurisdiction — two minerals increasingly classified as strategic by the US and EU for semiconductor and defence applications. The deal was structured with a 0.5% NSR royalty to Teck and a life-of-mine zinc off-take arrangement. White & Case's analysis notes that 2026 M&A will be increasingly driven by policy support and government backing rather than commodity price cycles alone — and Apex is a textbook example of that dynamic.
SEC Filing — Blue Moon Metals · 16 March 2026 Globe Newswire M&A Report · 12 March 2026
Operational Performance, Digitalisation & Automation
AI
BHP partners with Canada to digitise geoscience data; reports $2B+ in digital value delivery
In a major March announcement, BHP confirmed a new partnership with the Government of Canada to support the digitisation of Canada's extensive geoscience and drill-core datasets. This followed a February collaboration with South Africa's Council for Geoscience to unlock legacy exploration data. BHP's digital and analytics initiatives have delivered more than US$2 billion in value across its operations over the past four financial years. The company's Technology and Innovation keynote at PDAC Toronto 2026 crystallised the industry's evolving consensus: "You do not get value from AI by starting with AI. The value comes from the foundations — consistent data standards and interoperability."
Software
Datamine launches MineScape 2026 with integrated Digital Twin and AI assistant
At the end of March, Datamine unveiled a major evolution of its flagship MineScape platform — transforming it from a design-focused tool into an execution-ready mine planning and simulation environment. Key additions include an AI Smart Chat Assistant, a Command Executor, a File Analyzer, and an MPL Expert for mine process logic code. A Tactical Scheduler introduces an advanced optimisation solver for complex operational decisions, while new Rapid Design tools — Rapid Pit, Rapid Ramps, Rapid Dumps, Rapid Drive — dramatically accelerate mine layout development. Customer data is never used to train AI models, with built-in PII detection safeguards.
Canadian Mining Journal · 30 March 2026
Automation
Industry shifts from pilots to scale: autonomous operations and AI now central to mining strategy
The 2026 Digitalisation & AI in Mining North America Conference set the tone for the year: the sector has moved beyond piloting digital solutions and is now scaling autonomous operations across the full value chain. IMARC analysis highlights that "zero-entry mining" is getting closer — a fully automated, battery-electric, zero-human-entry coal mine is already operational in China. Malvern Panalytical's industry report identifies portfolio-level standardisation of digitalisation as a defining 2026 trend, with real-time on-line analysis now a standard operational expectation. Declining ore grades and tighter QC requirements are accelerating demand for continuous analytical feedback across copper, gold and polymetallic operations.
Malvern Panalytical · February 2026 IMARC · January 2026
"Over the past four financial years, our digital and analytics initiatives have delivered more than US$2 billion in value for BHP. We have barely scratched the surface." — BHP, March 2026
New Technology
Exploration
Japan retrieves deep-sea rare earth sediment near Minamitorishima; extraction trial planned for 2027
In a significant development for non-terrestrial mining, a Japanese research vessel successfully drilled and retrieved deep-sea sediment containing rare earth minerals from the seabed near the island of Minamitorishima in 2026. The Japanese government announced that a commercial-scale deep-sea mud extraction trial will begin in 2027. These rare earth-enriched sediments form from fish debris in the deepest parts of the ocean and could provide an alternative to Chinese rare earth processing dominance. Meanwhile, China's own deep-sea mining programme — developed jointly by Dalian University of Technology and state institutes — has demonstrated capabilities at 2,000–4,000 metre operational depths with polymetallic nodule grades (1.25% nickel, 1.1% copper, 0.2% cobalt) that often exceed terrestrial deposits.
Extraction
Direct Lithium Extraction advances toward commercialisation; Salton Sea positioned as US model site
Direct Lithium Extraction (DLE) technology — capable of recovering over 85% of lithium from brine in under 24 hours versus months with traditional evaporation ponds — is accelerating toward commercial scale in 2026. The US Department of Energy committed a $1.4 billion loan to EnergySource Minerals for a DLE facility near California's Salton Sea, targeting 20,000 metric tonnes of lithium hydroxide annually — enough for approximately half a million EV batteries. The Salton Sea is now positioned as a global demonstration site for integrated geothermal-lithium extraction, where the same brine used to generate clean power is also the source of lithium. Trial operations are scheduled for 2026, with full production expected by end of 2027.
C&EN — American Chemical Society
AI Exploration
AI-powered exploration: startups slash mineral discovery timelines from years to months
Startups including Earth AI and Terra AI are deploying machine learning to analyse geological datasets and identify promising drill sites, reducing discovery timelines from years to months. The World Economic Forum's January 2026 report characterised this shift as transformational: "Mining can no longer be viewed as a distant upstream activity. It is becoming a strategic enabler of global innovation." AI-enabled exploration, precision extraction, digital monitoring and advanced processing are allowing minerals to be produced with significantly greater efficiency and reduced environmental impact. The WEF emphasised that demand for minerals required for clean energy technologies is projected to rise more than 3.4 times by 2040 under net-zero pathways.
World Economic Forum · January 2026
Safety
Disaster
Second Rubaya mine collapse kills over 200 in DRC — total death toll from both collapses exceeds 600
The Rubaya coltan mine complex in eastern Democratic Republic of the Congo suffered a second catastrophic landslide on 3–4 March 2026, killing more than 200 people including around 70 minors, food vendors, and small-scale traders. This followed the first collapse on 28 January that confirmed over 400 deaths. The Rubaya mines account for more than 15% of the world's tantalum supply and have been under M23 rebel control since May 2024. Mine tunnels are dug by hand with virtually no oversight or safety measures. The disaster shone a harsh spotlight on the human cost of the global critical minerals supply chain — and the continued exploitation of artisanal miners in conflict zones supplying materials for consumer electronics and EVs worldwide.
2026 Rubaya Mines Collapses — Wikipedia · March 2026
Technology
AI-powered proximity detection and wearables emerge as the new frontline of underground mine safety
A detailed March analysis in Mining Technology concluded that underground accidents are rarely random — they cluster at intersections, blind corners, and confined drifts where vehicles and people share space without visibility. Conventional GPS-based proximity sensors have well-documented blind spots underground; AI-enabled systems that combine inputs from multiple sensors — LiDAR, radar, wearable tags — are now proving more reliable because they contextualise data even when individual sensors fail. GlobalData's 2026 Wearable Tech report identifies connected wearables as evolving beyond tracking devices into real-time safety networks. Meanwhile, Sandvik's Newtrax Collision Avoidance System (CAS) — which provides automated slow-to-stop intervention — and Matrix's IntelliZone proximity detection platform are seeing broader adoption as mines move toward near-zero human-machine collisions.
Mining Technology · March 2026 Mining Weekly — Matrix Safety · February 2026
Incident
Endeavour Mining reports fatal contractor accident at Mana mine, Burkina Faso
Endeavour Mining reported on 9 March that a contractor colleague passed away as a result of injuries sustained in an incident during maintenance activities at the scrapyard of its Mana gold mine in Burkina Faso. The company stated that the health, safety and welfare of colleagues is its top priority and extended condolences to the worker's family. The incident highlighted the ongoing challenges for operators in West Africa's Sahel region, where security risks, infrastructure limitations, and complex operational environments compound the difficulties of maintaining world-class safety standards. Endeavour operates across Senegal, Côte d'Ivoire, and Burkina Faso.
Innovation
AI and robotics transition from pilot programmes to permanent safety fixtures in high-risk mining environments
A March 29 analysis from Robotics & Automation News, authored by viAct CEO Gary Ng, documents a major shift underway at some of the world's most hazardous workplaces: AI video analytics, robotics, and IoT smartwatches are now replacing the hard hat and supervisor as the first layer of defence — not the last. A viAct deployment on a Saudi construction site combined AI analytics with IoT smartwatches and achieved a 63% reduction in on-site medical incidents and 95% PPE compliance rates. As global regulatory pressure intensifies and project owners demand verifiable safety compliance data, adoption in mining is expected to accelerate significantly through the remainder of this decade.
Robotics & Automation News · 29 March 2026
Disclaimer: This newsletter is for informational purposes only and does not constitute financial advice. Information is based on publicly available sources as of March 2026.
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