September 2026 reinforced several themes that have been building throughout the year: governments are becoming more directly involved in critical-mineral supply chains, mining companies continue to pursue scale through consolidation and strategic partnerships, and automation is moving steadily from individual machines toward integrated mine-wide operating systems.
The month also delivered important developments in mineral processing, autonomous and lower-emission equipment, artificial intelligence and safety technology. At the same time, fatal incidents at several major mining operations underlined that advances in technology have not removed traditional mining hazards.
Critical Minerals Geopolitics and Corporate Strategy
China considers further consolidation of its rare-earth sector
Reuters reported that State-owned China Rare Earth Group had been in discussions about acquiring control of Shenghe Resources. Such a transaction could further consolidate Chinese State influence across the rare-earth supply chain and would be particularly notable because Shenghe owns an indirect interest in US rare-earth producer MP Materials.
Shenghe subsequently disputed the reports and said its controlling shareholder had indicated that there were no plans to transfer control, meaning no transaction has been confirmed. Nevertheless, the development illustrates how ownership, processing capacity and access to rare-earth quotas are increasingly becoming strategic geopolitical issues rather than simply commercial ones. Reuters
US and Japan focus on China's yttrium restrictions
US and Japanese government and industry representatives met on September 10 to discuss supply bottlenecks affecting yttrium and permanent magnets.
Yttrium is particularly important in aerospace, semiconductor equipment and high-temperature applications. Chinese export restrictions have disrupted availability and demonstrated how even relatively small-volume minerals can create significant industrial vulnerabilities when processing capacity is concentrated in one country. Reuters
The meeting reflects a broader change in critical-mineral strategy: governments are increasingly looking beyond mining itself and focusing on the entire chain from refining and separation through to magnets and finished industrial components.
Source: Reuters – US, Japanese officials discussed China's yttrium curbs
US moves closer to deep-sea mining permits
The US government signalled that permits for deep-sea mineral extraction could potentially be issued within months, as Washington looks for additional sources of nickel, cobalt, copper and other strategic minerals.
Polymetallic nodules on the seabed contain several metals used in batteries, defence systems and electronics. The proposed development remains controversial, however, with environmental groups warning that commercial seabed mining could cause difficult-to-reverse damage to deep-ocean ecosystems. Reuters
Source: Reuters – US aims to issue deep-sea mining permits within months
Indonesia adjusts nickel pricing to support HPAL processing
Indonesia introduced a revised benchmark pricing formula for low-grade nickel ore, reducing the corrective factor applied to limonite and cobalt content.
The change lowers the effective feedstock price for HPAL plants producing battery materials from low-grade nickel ores. Indonesian smelter representatives said the adjustment should improve operational certainty at a time when processing costs, including sulphur prices, have been under pressure. Reuters
Indonesia's policy demonstrates the increasingly active role governments are taking in managing the economics of domestic mineral-processing industries.
Source: Reuters – Indonesian nickel smelters welcome new pricing formula
Rare-earth recovery from historic waste moves closer to commercialisation
Rainbow Rare Earths signed an MoU with Neo Performance Materials covering technical cooperation and future offtake from the Phalaborwa project in South Africa.
Neo will support the final solvent-extraction separation circuit and has secured prospective offtake rights covering 40% of planned neodymium-praseodymium production and 65% of selected heavy rare-earth output. The project is unusual because its feed comes from historic phosphogypsum stacks rather than a conventional newly mined orebody. Mining Weekly
Source: Mining Weekly – Rainbow Rare Earths secures Neo as technical and offtake partner
Corporate Moves, M&A Trends and Financial Highlights
Gold Fields makes $27.1bn approach for Northern Star
One of September's largest mining stories was Gold Fields' A$38.7-billion / US$27.1-billion proposal for Northern Star Resources.
Northern Star rejected the offer, saying it undervalued the company. The proposed combination would have created the world's second-largest gold producer and is another indication that large miners remain interested in scale, longer reserve lives and stronger balance sheets even after several unsuccessful megadeals. Reuters
Gold Fields has indicated that it remains disciplined in its approach, while investors are watching whether a revised proposal emerges.
Source: Reuters – Northern Star rejects $27bn Gold Fields takeover proposal
Mining's pursuit of scale continues
Reuters reported that major miners remain committed to M&A, joint ventures and partnerships despite the failure or delay of several high-profile transactions.
The underlying rationale is increasingly financial as well as strategic. New copper and other large-scale mining projects can require investments running into many billions of dollars, making balance-sheet strength and access to financing increasingly important. At the same time, investors continue to demand discipline after the heavy writedowns that followed the previous mining acquisition cycle. Reuters
Source: Reuters – Miners remain focused on scale despite failed megadeals
Glencore prepares Australian secondary listing
Glencore confirmed that it expects trading on the Australian Securities Exchange to begin on October 14 under the ticker GLC.
The secondary listing will not involve issuing new shares, but it will increase Glencore's accessibility to Australian institutional investors. The company sees Australia as an important capital market as it continues to pursue copper growth and potentially future M&A. Reuters
Source: Reuters – Glencore expects to start ASX trading on October 14
Artemis Gold agrees $427m Vista Gold acquisition
Artemis Gold agreed to acquire Vista Gold through an all-share transaction valued at approximately US$427 million.
The deal gives Artemis ownership of the Mt Todd gold project in Australia's Northern Territory while Vista shareholders retain exposure to the asset through shares in the enlarged company. SEC
The transaction is another example of consolidation extending beyond the diversified majors into the gold development sector.
Source: Artemis Gold / SEC – Artemis Gold agrees to acquire Vista Gold
Codelco works on major restructuring
Chile's State-owned copper producer Codelco continued work on a restructuring and recovery plan aimed at addressing stagnant production and rising costs.
The company told Reuters that the final strategy may not be completed until the end of 2026. Codelco has also adopted a more conservative production outlook, with output expected to remain around 1.3-million tonnes annually in coming years rather than returning rapidly to previously targeted levels. Reuters
Source: Reuters – Codelco restructuring plan may be delayed until end-2026
Operational Performance, Digitalisation and Automation
US commits $73m to “Mine of the Future” testing
The US Department of Energy selected four projects for US$73 million in funding under its Mine of the Future initiative.
The programme is intended to establish domestic testing grounds where new mining technologies can be demonstrated under operational conditions. The initiative links mining innovation directly with US critical-mineral security policy and reflects growing government support for technologies that can improve productivity, recovery and domestic mineral supply. Mining Weekly
Source: Mining Weekly – US selects four Mine of the Future projects for $73m funding
EACON passes 1,500 battery-electric autonomous trucks
EACON Mining Technology reported that its autonomous system is now operating on more than 1,500 battery-electric mining trucks.
Battery-electric vehicles account for about 42% of EACON's autonomous fleet, slightly ahead of diesel-hybrid vehicles. The BEV fleet has nearly doubled from around 800 trucks in March 2026. International Mining
The milestone demonstrates how autonomy and electrification are increasingly developing together. Mine planning must now account not only for truck dispatch but also charging, energy recovery, battery utilisation and infrastructure availability.
Source: International Mining – EACON autonomous solution deployed on more than 1,500 BEV mining trucks
Mimosa strengthens operational technology and cybersecurity
Rockwell Automation and Zimbabwe's Mimosa mine are collaborating on a multi-year digital-modernisation programme.
Recent work has focused on the operational-technology network, including cybersecurity, network segmentation, secure connectivity, monitoring and recovery. The project reflects a wider industry shift: as mines become more connected, cybersecurity is moving from an IT issue into core operational risk management. Mining Index
Source: Mining Index Zimbabwe – Rockwell Automation and Mimosa modernise mine infrastructure
AI targets tyre downtime and haul-road risk
AI-enabled mining tyre monitoring showcased at Electra Mining Africa is being used to identify tyre hot spots, tread damage and haul-road conditions before they become larger operational problems.
Mining Weekly reported that the technology can reduce tyre-related downtime by up to 20%, while data can also highlight road spillage, poor berm conditions and surface irregularities. Mining Weekly
The example shows how mining AI is moving increasingly toward narrow, operational applications where measurable downtime or safety improvements can be demonstrated.
Source: Mining Weekly – AI helping reduce mining tyre downtime by up to 20%
New Technology
Sandvik unveils autonomous battery-electric surface drilling concept
Sandvik introduced Sami, a fully autonomous battery-electric surface drilling concept designed around AI, robotics, electrification and digital connectivity.
The cabinless concept builds on technologies already advancing rapidly in underground mining and demonstrates Sandvik's view of future surface operations as integrated systems rather than isolated autonomous machines. International Mining
Source: International Mining – Sandvik introduces autonomous electric concept drill
Metso launches new coarse-particle flotation technology
Metso launched its new Sampo Cell coarse-particle flotation system in September.
The technology is intended to recover coarser particles while maintaining fine-particle recovery. By potentially reducing the amount of grinding required and recovering material that conventional flotation circuits may lose, coarse-particle flotation could reduce energy demand while improving overall metal recovery.
An industrial-scale unit has been operating continuously at a Chilean copper mine since March 2026. Metso
Source: Metso – Sampo Cell coarse-particle flotation technology
Vulcan begins commercial production of lithium-extraction adsorbent
Vulcan Energy started commercial-scale production of VULSORB, its proprietary adsorbent for selectively recovering lithium from brine.
The technology is intended for Vulcan's Lionheart project in Germany. The company reports lithium extraction efficiencies of up to 95% during testing under operating conditions. Mining Weekly
The development reflects the growing focus on improving the processing stage of lithium supply chains rather than simply developing additional mine capacity.
Source: Mining Weekly – Vulcan starts commercial production of lithium extraction technology
SANY introduces hybrid 95-t mining truck
SANY launched the SRT100S, a 95-t-payload rigid off-highway mining truck using a hybrid powertrain.
The concept combines conventional power generation with electric drive technology, targeting lower fuel consumption, operating cost and emissions relative to traditional diesel equipment. Mining Weekly
The launch adds another intermediate technology pathway for mines where full battery-electric haulage may not yet be practical.
Source: Mining Weekly – SANY targets lower-cost, lower-emission mining with hybrid truck
Safety
Fatal incident suspends operations at Escondida
Operations were temporarily suspended at BHP's Escondida copper mine in Chile following the death of a worker during maintenance activities on September 23.
Escondida is the world's largest copper mine, with BHP operating the asset and Rio Tinto holding a 30% interest. Chilean mines typically require regulatory safety clearance before restarting after a fatal accident. Reuters
Source: Reuters – World's largest copper mine halts operations after worker death
Seismic incident claims life at Moab Khotsong
Harmony Gold reported a fatality at its Moab Khotsong mine in South Africa following a seismicity-related incident on September 6.
South Africa's deep-level gold mines remain exposed to seismic and rock-related hazards even as monitoring, support design and mechanisation continue to improve. An investigation by the Department of Mineral and Petroleum Resources was initiated. Mining Weekly
Source: Mining Weekly – Harmony reports fatal incident at Moab Khotsong
Further fatality reported at Sibanye-Stillwater operation
South Africa's AMCU reported another fatal incident at Sibanye-Stillwater's Beatrix mine in September.
The union said the incident represented the fourth fatality across Sibanye-Stillwater's operations during 2026 and put South Africa's national mining-fatality count at 52 at that point in the year. The circumstances of the incident remained under investigation. Mining Weekly
Source: Mining Weekly – AMCU calls for stronger safety enforcement after Sibanye fatality
Hexagon advances automatic collision intervention
Hexagon launched its next-generation Vehicle Intervention System, designed to automatically intervene when defined collision-risk thresholds are breached.
The system meets EMESRT Level 9 principles and completed independent Technology Readiness Level 4 validation through the University of Pretoria. Hexagon says it is the first open-pit Level 9 system to reach this validation milestone. International Mining
The development is important because collision-prevention systems are increasingly moving beyond operator warnings toward automatic machine intervention.
Source: International Mining – Hexagon launches next-generation Vehicle Intervention System
Energy and Sustainability
Valterra reports major processing and emissions benefits
Valterra Platinum reported substantial benefits from Jameson-cell deployment in its processing operations.
The company cited annual savings of approximately R203 million, alongside a 70.5 MWh reduction in smelting electricity consumption, around 70,000 t less smelting CO₂ emissions and transport reductions equivalent to about 3,000 truck movements. Engineering News
The project illustrates how mineral-processing improvements can simultaneously increase recovery, reduce costs and lower energy and transport intensity.
Source: Mining Weekly / Engineering News – Jameson cells deliver major Valterra savings
24/7 renewable power becomes increasingly viable for African mines
Falling solar and battery costs are strengthening the commercial case for renewable power at remote and energy-intensive mining operations.
CrossBoundary Energy is developing a 30 MW 24/7 solar PV and battery-storage project to supply the Kamoa-Kakula copper complex in the Democratic Republic of Congo under a power-purchase agreement. Mining Weekly
The development reflects an important shift from renewables being viewed primarily as a decarbonisation measure toward being considered part of mine power-security and cost-control strategy.
Source: Mining Weekly – Falling solar and battery costs make renewable baseload more viable
Fortescue and Metso produce first hot metal from Green Metal project
Fortescue's Christmas Creek Green Metal Project in Western Australia produced its first hot metal using Metso's Direct Reduced Iron Smelting Furnace technology.
The project is testing lower-emission pathways for converting Pilbara iron ore into higher-value metal products and represents another step toward reducing emissions in the traditionally carbon-intensive iron and steel value chain. Mining Weekly
Source: Mining Weekly – Fortescue and Metso reach green ironmaking milestone
Commodity Watch
Copper supply pressure remains central
China's refined copper production is expected to record its slowest annual growth in decades, with analysts forecasting growth of only around 3%–3.4% in 2026 compared with 10.4% in 2025.
The constraint is increasingly at the feedstock level: copper concentrate remains tight, scrap availability has also come under pressure and expanding global smelting capacity is competing for limited raw material. Several Chinese smelters are planning maintenance shutdowns during the fourth quarter. Reuters
Copper remained around historically high levels late in September, with the London Metal Exchange benchmark near US$14,400/t on September 29. Business Recorder
Source: Reuters – China's refined copper output heading for lowest growth in decades
Gold corrects after an extraordinary year
Gold ended September around US$4,200/oz, down more than 5% over the month as a stronger US dollar, higher Treasury yields and expectations of further US interest-rate increases weighed on the market.
Even after September's correction, bullion remained at historically elevated levels following the major price increases recorded earlier in 2026. Reuters
Source: Reuters – Gold rises after cooler inflation data but heads for monthly decline
Key Takeaways
- Critical minerals are moving deeper into geopolitics: yttrium, rare-earth separation capacity, nickel pricing and even seabed resources are now being treated as strategic industrial-policy issues.
- Mining consolidation remains active: Gold Fields' approach for Northern Star demonstrates that scale and reserve life remain major boardroom priorities despite investor demands for capital discipline.
- Automation and electrification are converging: fleets of more than 1,500 battery-electric autonomous trucks show that this is already moving beyond pilot scale.
- AI is becoming operational rather than experimental: tyre monitoring, production planning and process analytics are increasingly tied to measurable productivity and safety improvements.
- Mineral processing is becoming a major innovation field: coarse-particle flotation, lithium adsorption and tailings recovery can create new value without relying entirely on new mine development.
- Safety technology is moving toward active intervention: Level 9 collision systems increasingly aim to stop equipment automatically rather than simply warn operators.
- Traditional hazards remain: fatalities at Escondida, Moab Khotsong and Beatrix demonstrate that maintenance, seismic and underground risks still demand continued attention.
- Energy strategy is now operational strategy: solar-plus-storage, processing efficiency and lower-emission ironmaking are increasingly being assessed on reliability and operating-cost grounds as well as decarbonisation.
- Copper remains structurally important: tight concentrate availability and constrained refined-production growth continue to support focus on new mines, processing capacity, recycling and tailings recovery.
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Disclaimer: This newsletter is for informational purposes only and does not constitute financial advice. Information is based on publicly available sources as of September 30, 2026.
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