Mining Industry Professionals

Monthly Mining News Summary – October 2026

October 2026 reinforced the extent to which mining has become intertwined with industrial policy, geopolitics and technology. Governments and institutional investors continued to direct capital toward critical-mineral supply chains outside China, while new rare-earth processing, lithium and copper projects progressed across North America, Latin America, Africa and Asia.

At the operational level, the transition from individual automated machines toward integrated autonomous systems accelerated. Artificial intelligence moved deeper into mine planning and predictive maintenance, while significant progress was reported in autonomous blasting, underground automation and battery-electric haulage. Safety remained a major concern, however, particularly in South Africa and following serious incidents in Chile, Colombia and Mongolia. Reuters

Critical Minerals Geopolitics and Corporate Strategy

Malaysia opens a new rare-earth route to the US

Malaysia granted US-majority-owned DTEC Mineral and Metal Technology permission to export up to 700 t of rare-earth carbonate from Perak to the United States for research and processing trials. It is the first approval reported under Malaysia's newly relaxed rules governing raw rare-earth exports.

An initial shipment of about 30 t is expected to be used by US companies and research institutions to test separation and refining technologies. DTEC ultimately wants to construct a Malaysian processing plant and has received an expression of support from the US Export-Import Bank for potential financing of up to US$650 million. The development illustrates how the contest over rare earths is increasingly shifting from access to deposits toward control of separation and refining capability. Read: Reuters – DTEC granted permit to ship Malaysian rare earths to US for research. Reuters

US rare-earth processing capacity receives another major investment

Phoenix Tailings announced plans for a US$375-million commercial-scale rare-earth processing facility in Rochester, New York. The 500,000 sq ft plant is expected to begin some operations in 2027, with full production targeted for 2028 and annual processing capacity of roughly 18,000 t.

The development follows a conditional commitment of US$500 million in long-term Pentagon debt financing for Phoenix Tailings' US rare-earth processing expansion. The project is another sign that Western critical-mineral policy is moving beyond mine development toward midstream capacity, where China's competitive advantage remains particularly strong. Read: Reuters – Phoenix Tailings to build $375m rare-earth facility in New York. Reuters

EnergyX and Trafigura sign $2bn lithium agreement

EnergyX signed a binding ten-year, US$2-billion take-or-pay agreement with Trafigura covering 100,000 t of future lithium supply from planned projects in Chile and the United States.

The agreement calls for Trafigura to purchase 5,000 t/y of lithium hydroxide and 5,000 t/y of lithium carbonate. EnergyX is pursuing direct lithium extraction technology and plans production in Chile from 2028 and Texas from 2029. The scale of the agreement is significant because it provides one of the stronger commercial endorsements to date for emerging DLE supply chains. Read: Reuters – EnergyX signs binding $2bn lithium supply agreement with Trafigura. Reuters

Rio Tinto accelerates its Argentine lithium strategy

Rio Tinto inaugurated two lithium facilities in Argentina's Catamarca province during October: the US$1.4-billion Sal de Vida project and the Fenix 1B expansion. Together they are expected to add around 25,000 t/y of lithium carbonate equivalent.

Rio is also considering a further Fenix II expansion that could require around another US$1 billion. The group is targeting approximately 160,000 t/y of lithium production in Argentina and 200,000 t/y globally by 2028, making lithium an increasingly significant part of Rio's growth portfolio. Read: Reuters – Rio Tinto expands in Argentina with new lithium plants. Reuters

Competition intensifies for Kenya's Mrima Hill deposit

Five groups submitted tenders to develop Kenya's Mrima Hill rare-earth and niobium deposit, around 65 km from Mombasa. The bidders include US consortia involving Fluor, Tetra Tech and ReElement Technologies, an Australian consortium involving RareX and Iluka Resources, and a Kenyan-British joint venture.

The tender illustrates growing competition for African critical-mineral resources, but also Kenya's intention to capture more value domestically through processing rather than simply exporting raw material. Read: Reuters – US and international groups compete for Kenya critical-minerals project. Reuters

Corporate Moves, M&A Trends and Financial Highlights

Anglo-Teck merger illustrates increasingly geopolitical M&A environment

Anglo American CEO Duncan Wanblad described the proposed US$54-billion Anglo American–Teck Resources merger and Anglo's Brazilian nickel divestment as test cases for mining companies navigating a more politically complex regulatory environment.

The Anglo-Teck transaction has received approvals across most jurisdictions but still requires Chinese clearance. Reuters reported that Chinese regulators have sought assurances regarding copper-concentrate supply. At the same time, Anglo's US$500-million sale of its Brazilian nickel assets to MMG has faced European scrutiny over concerns that ferronickel supply could potentially be redirected away from Europe. Mining M&A is increasingly being judged not only on competition grounds but also on national access to strategic commodities. Read: Reuters – Anglo-Teck merger and nickel sale test geopolitical complexities. Reuters

Glencore raises 2026 marketing-profit outlook

Glencore increased its forecast for 2026 marketing adjusted operating profit to more than US$5 billion, significantly above its previous long-term guidance range.

Commodity-market volatility, particularly in oil, gas and freight, has supported the trading division's performance. Glencore also began trading through its Australian secondary listing during October, improving access for Australian investors as the group continues to place increasing strategic emphasis on copper. Read: Reuters – Glencore raises 2026 marketing profit outlook. Reuters

Rio Tinto reports stronger Pilbara performance

Rio Tinto's third-quarter Pilbara iron-ore sales increased 2% year on year to 85.7 Mt, ahead of market expectations. The company said it had already released more than US$2 billion in capital during 2026 under an optimisation programme targeting approximately US$5 billion by year-end.

Copper production was broadly unchanged at 205,000 t, with stronger production at Oyu Tolgoi offsetting lower output elsewhere. Rio also lowered its lithium production expectation to the bottom of its previous range because of a slower ramp-up at Sal de Vida. Read: Reuters – Rio Tinto on track to release $5bn after stronger Q3 sales. Reuters

Newmont beats expectations as Cadia copper recovers

Newmont reported adjusted third-quarter earnings of US$2.20/share, ahead of market expectations, while revenue increased 15% year on year to US$6.36 billion.

Copper production at Cadia increased 35% from the previous quarter to 23,000 t as the Australian operation recovered from earlier disruption. Newmont is also progressing the Red Chris Block Cave project in British Columbia toward a possible final investment decision in early 2027. Development capital is currently estimated at US$4.2 billion to US$4.8 billion. Read: Reuters – Newmont beats quarterly estimates on gold prices and Cadia recovery. Reuters

BHP advances copper and potash growth despite a softer copper quarter

BHP reported lower first-quarter copper production owing to planned grade declines, maintenance, severe Chilean weather and temporary operational interruptions. At the same time, Western Australian Iron Ore achieved records at both the mine and port.

Jansen Stage 1 reached 87% completion and remains targeted for first potash production in mid-2027. BHP also reiterated its focus on copper growth across Escondida, South Australia and the Americas, with data-centre infrastructure increasingly cited alongside electrification as an important long-term copper-demand driver. Read: BHP – Operational Review for the quarter ended 30 September 2026. BHP

Operational Performance, Digitalisation and Automation

Codelco and Normet launch five-year underground automation programme

Codelco and Normet entered a five-year technology-development programme centred on the El Teniente copper mine in Chile.

The collaboration will develop autonomous concrete transport and spraying, remotely operated scaling and autonomous stationary breaker operations. The objective is particularly relevant as underground mines move deeper and encounter greater seismicity, heat and ground-control challenges. The first autonomous shotcreting pilot will incorporate perception systems, mapping, onboard AI, connectivity and data-driven decision-making. Read: International Mining – Normet and Codelco partner on El Teniente automation programme. im-mining.com

AI moves into mine planning

Bergbau introduced its Planning Agent, designed to let mining engineers use natural-language instructions to develop and investigate mine designs, optimisation scenarios, schedules and reports.

In a training demonstration, the company says a workflow from block model through optimisation, design, sequencing and resource-constrained scheduling was completed in roughly one working day rather than the much longer conventional workflow. The significance is less about replacing engineers than about potentially allowing engineers to explore many more mine-plan alternatives in parallel. Read: International Mining – Bergbau puts AI to work on mine planning. im-mining.com

Chile reaches 47 autonomous Epiroc blasthole drills

Epiroc reported that Chile now has 47 autonomous Pit Viper blasthole drills, with deployments at major copper operations including Los Bronces, Spence, Escondida, Los Pelambres and Centinela.

The latest RCS5.12 control-system update adds functions including digital teleremote cameras, automated tower raising, improved obstacle detection, proximity interlocks and enhanced autonomous drilling capabilities. Chile's large installed fleet demonstrates how autonomous drilling has moved well beyond demonstration projects into repeat deployment. Read: International Mining – Epiroc reaches 47 autonomous drills in Chile. im-mining.com

Predictive maintenance moves deeper into fleet management

Wabtec Digital Mine and Razor Labs announced a partnership to offer DataMind AI predictive-maintenance technology to Wabtec mining customers.

The platform combines equipment-health data to identify developing component failures and indicate where maintenance teams should focus. The broader trend is important: fleet management is increasingly moving from separate safety, dispatch and maintenance systems toward integrated operational platforms using shared data and AI. Read: International Mining – Wabtec and Razor Labs bring predictive maintenance to mining fleets. im-mining.com

New Technology

Dyno Nobel targets one of mining's remaining manual processes

Dyno Nobel unveiled a prototype system designed to autonomously inspect and load blastholes, including initiating systems and bulk explosives.

The company says the end-to-end system follows around five years of R&D and is intended to remove personnel from one of the more safety-critical areas of openpit mining. A fully built prototype is expected to be trialled at Mariana Minerals' Copper One project in Utah. If commercially successful, automated explosives loading would represent an important extension of mine autonomy beyond drilling and haulage. Read: International Mining – Dyno Nobel prototypes autonomous blasthole inspection and loading. im-mining.com

Fortescue advances arsenic-removal technology for copper concentrates

Fortescue reported commercial progress with its patented Toowong Process, a low-temperature, low-pressure hydrometallurgical technology for removing arsenic from copper concentrates.

Across more than 3,000 hours of testing, Fortescue says arsenic concentrations were reduced to below 0.3% while retaining more than 99.9% of the copper. More than 40 t of treated concentrate has now been sold. If scalable, the process could potentially improve the economics of copper deposits where arsenic currently limits concentrate marketability or forces costly blending. Read: International Mining – Fortescue arsenic-removal technology targets difficult copper resources. im-mining.com

India unveils domestically developed 60-t battery-electric mining truck

BEML unveiled the BH60-EV, described as India's first indigenously designed and developed 60-t-class battery-electric dump truck.

The machine combines a high-payload mining-truck platform with an electric powertrain and zero tailpipe emissions. Its introduction is significant not only technologically but strategically: battery-electric heavy mining equipment is increasingly being developed by a wider group of manufacturers rather than only the traditional global OEMs. Read: International Mining – BEML unveils India's first 60-t battery-electric mining truck. im-mining.com

BHP and Rio Tinto exceed one megawatt in haul-truck charging trial

BHP and Rio Tinto successfully completed a megawatt-scale charging test on one of the Cat 793 XE battery-electric haul trucks being evaluated at BHP's Jimblebar iron-ore mine in Western Australia.

The charging system uses Megawatt Charging System connectors and delivered more than 1 MW of power. Large-scale static charging remains one of the central challenges for battery haulage because charging time must be integrated without materially reducing truck utilisation. The joint trial is generating operational data on infrastructure, charging strategy and fleet electrification in Pilbara conditions. Read: International Mining – BHP and Rio Tinto complete megawatt-scale Cat 793 XE charge. im-mining.com

Safety

South Africa's mining industry launches renewed safety review

South African mining companies began reviewing safety protocols after the country's mine-fatality count reached 53 deaths by October 12, already exceeding the full-year totals of 41 in 2025 and 42 in 2024.

Minerals Council South Africa CEO Mzila Mthenjane said concern had increased among senior industry leaders, particularly within the labour-intensive gold and platinum sectors. The deterioration after historically low fatality levels underlines the difficulty of sustaining long-term safety improvements. Read: Mining Weekly / Reuters – Fatalities prompt South African mining safety review. Mining Weekly

Fatal maintenance accident at Codelco's Radomiro Tomic mine

A mechanic was killed while carrying out maintenance in the crushing and material-handling area at Codelco's Radomiro Tomic copper mine in Chile on October 1.

Operations in the affected area were suspended while the incident was investigated. The accident followed another fatal maintenance-related incident at Escondida in late September and again highlighted the risk associated with maintenance, isolation and interaction with large fixed and mobile equipment. Read: Reuters – Fatal accident at Radomiro Tomic mine. Reuters

Illegal gold-mine collapse kills 14 in Colombia

A collapse at an illegal gold mine in southwestern Colombia killed 14 people and injured seven in the rural Chambero area of Nariño province.

The tragedy again demonstrates the disproportionate safety risk in informal and illegal mining, where ground-control standards, ventilation, emergency response and regulatory oversight can be severely limited. Read: Reuters – Fourteen killed in Colombia illegal gold-mine collapse. Reuters

Oyu Tolgoi restarts after underground seismic event

Rio Tinto began progressively restarting underground operations at Oyu Tolgoi after an October 29 seismic event caused a localised rockfall and ground vibrations.

Three employees were injured, although no fatalities were reported and Rio said the underground cave and operating infrastructure suffered no structural damage. Oyu Tolgoi's scale and depth make seismic management particularly important as underground production continues to increase. Read: Reuters – Rio Tinto begins restarting Oyu Tolgoi following seismic event. Reuters

Underground personnel tracking becomes more sophisticated

Booyco Electronics introduced a Missing Person Locator that integrates radio-frequency tracking into miners' cap lamps.

The system records workers' last known locations and enables two-way acknowledgement between underground personnel and the control room. Its purpose is to accelerate emergency response following events such as fires or rockfalls while also improving personnel verification before blasting. Read: International Mining – Booyco launches underground Missing Person Locator. im-mining.com

Energy and Sustainability

PLS signs 20-year power agreement with Fortescue

Australian lithium producer PLS Group signed a 20-year power-purchase agreement with Fortescue's FMG Clean Energy business for its Pilgangoora lithium operation.

PLS expects to invest approximately A$150 million between 2027 and 2029 in transmission connections and power-system upgrades as it prepares for its P2000 expansion. The agreement shows how access to large-scale, reliable electricity is becoming a strategic component of mine expansion rather than simply a utility contract. Read: Reuters – PLS signs 20-year Pilgangoora power agreement with Fortescue unit. Reuters

Rio Tinto evaluates 360 MWh heat battery for alumina refining

Rio Tinto and Rondo Energy began front-end engineering design work on a 360 MWh thermal-energy-storage project at the Yarwun alumina refinery in Queensland.

The proposed Rondo Heat Battery would store low-cost electricity as high-temperature heat in refractory brick and deliver continuous industrial process heat. If developed, the project could become one of the world's first large-scale industrial heat-battery installations and a first for alumina refining. Read: Mining Weekly – Rio Tinto and Rondo assess large-scale heat battery at Yarwun. Mining Weekly

AI enters mine-site energy management

Envision Energy unveiled an AI-based energy system designed for remote mining and smelting operations, combining wind, solar, battery storage and gas turbines capable of using green hydrogen or ammonia.

The concept uses an integrated dispatch and control system to balance energy cost, reliability and emissions. This is an important direction for remote mining because decarbonisation increasingly depends not on a single technology but on intelligently coordinating several energy sources. Read: Mining Weekly – Envision unveils AI-powered energy system for remote mine sites. Mining Weekly

Commodity Watch

Copper remains the standout industrial metal

Copper dominated discussion during October's LME Week as prices traded close to record levels and above US$14,000/t.

The market is unusually fragmented geographically. The International Copper Study Group still forecasts a global surplus of 104,000 t in 2026 and 368,000 t in 2027, yet more than 1.2 Mt is held in exchange inventories, much of it concentrated in the US amid uncertainty over potential tariffs. China, by contrast, is short of metal: Shanghai inventories were around 54,400 t and the Yangshan import premium reached a 13-year high. The result is an increasingly regional copper market shaped as much by trade policy and inventory location as by global headline supply. Read: Reuters – Copper steals the show at LME Week. Reuters

Gold ends October under pressure

Gold fell sharply at the end of October, with spot bullion dropping to about US$3,881/oz on October 30, its lowest level in roughly a year.

The metal was around 30% below its January 2026 record of US$5,595/oz, pressured by expectations of higher-for-longer interest rates, weaker Asian demand and broader market deleveraging. Silver, platinum and palladium also experienced substantial declines late in the month. Read: Reuters – Gold hits one-year low as precious metals sell off. Reuters

Key Takeaways

• Critical-mineral strategy is increasingly about processing, not only mining. Rare-earth separation facilities, lithium conversion and downstream supply contracts attracted substantial capital in October.
• Supply-chain geopolitics is now affecting M&A approvals. Copper and nickel transactions are being scrutinised according to where future material will ultimately flow.
• Lithium investment is recovering. Rio Tinto's Argentine expansion and the EnergyX–Trafigura agreement signal renewed confidence in longer-term demand.
• Copper remains the industry's central growth commodity, supported by electrification, grid investment and increasingly data-centre infrastructure.
• Autonomy is expanding into harder mining processes. Underground shotcreting, scaling, breaking and explosives loading are now being targeted alongside drilling and haulage.
• AI is becoming embedded in engineering and maintenance, with mine planning and predictive equipment-health applications moving closer to operational deployment.
• Battery-electric haulage is progressing, but charging infrastructure is critical. The BHP/Rio/Caterpillar megawatt-scale test is an important practical milestone.
• Processing technology could unlock previously marginal resources. Fortescue's arsenic-removal work demonstrates how metallurgical innovation can influence the economics of entire orebodies.
• Mine safety performance remains uneven. South Africa's rising fatality count and October incidents in Chile and Colombia reinforce the continued importance of basic operational controls alongside advanced technology.
• Mine energy systems are becoming more integrated, combining renewables, storage, AI-based dispatch and industrial heat technologies rather than relying on a single decarbonisation solution.

Mining Industry Professionals – Partner Sponsorship

Mining, technology and service companies interested in gaining targeted visibility within the steadily growing Mining Industry Professionals community can discuss a Partner Sponsorship with MIP.

Partner exposure can include the Monthly Mining News Summary, the MIP LinkedIn Monthly Mining Newsletter, direct email distribution, LinkedIn and Facebook visibility and ongoing presence on MiningIndustryProfessionals.net.

For further information and the current MIP Partner Sponsorship Rate Card, please contact info@miningindustryprofessionals.net.

Disclaimer: This newsletter is for informational purposes only and does not constitute financial advice. Information is based on publicly available sources as of October 31, 2026.