UK Backs Hemerdon Tungsten Mine Restart With Up to £71 Million

What happened

On August 25, the National Wealth Fund announced an investment of up to £71 million in Tungsten West to support the restart of the Hemerdon tungsten and tin mine in Devon.

The financing consists of a £36 million equity investment and up to £35 million of lending. The capital is intended to support construction, commissioning and processing costs associated with restarting production at a site that previously operated and retains substantial infrastructure.

The investment also creates an exclusive negotiation period during which the United Kingdom Government may seek the right to procure up to 50% of Hemerdon’s annual tungsten production as described in the 2025 feasibility study. Any purchase agreement must be negotiated separately. Tungsten West is targeting full scale ramp up during the first quarter of 2027, while the project is expected to support around 350 direct jobs once fully operational.

Signal reading

The state is using several instruments around one strategic asset. Equity supports the company’s capital base, lending supports the restart program and a possible procurement right could create a future demand channel. This is more than general policy support. It is a project specific financial architecture intended to reduce both capital and market risk around domestic tungsten supply.

Next proof point: completion of the investment documents, capital deployment, construction and commissioning progress, the terms of any separate procurement agreement and evidence that Hemerdon reaches stable full scale production.

What happened

On August 25, CrossBoundary Energy announced that its solar and battery storage facility for Kamoa Copper had reached commercial operation on August 12.

The system combines 233 MWp of solar generation with 123 MVA and 526 MWh of battery storage. It is designed to supply at least 30 MW of firm power to the Kamoa Copper complex under a power purchase agreement signed in April 2025.

Kamoa Copper is a joint venture between Ivanhoe Mines, Zijin Mining Group and the Government of the Democratic Republic of the Congo. CrossBoundary and Kamoa report that the facility was delivered within 16 months of the power purchase agreement and is intended to support planned growth in copper production.

Signal reading

Reliable electricity is part of mine capacity. Solar generation alone is variable, but storage allows the project to deliver a defined block of firm power. The milestone therefore connects energy infrastructure directly with copper output, operating continuity and the ability to expand production in a power constrained system.

Next proof point: sustained power availability, actual delivery of the contracted firm capacity, battery performance across operating cycles and evidence that the additional power supports reliable copper production and expansion.

What happened

The Michigan Strategic Fund gave final approval to two performance based grants totalling US$50 million for the Copperwood project and associated regional infrastructure in the western Upper Peninsula.

Approximately US$44.97 million is allocated to Copperwood Resources for eligible site and infrastructure expenditures. Approximately US$5.03 million is allocated to the Gogebic County Road Commission. A separate Michigan Department of Transportation grant of approximately US$7.54 million brings total support for County Road 519 improvements to about US$12.57 million.

The funding will reimburse eligible spending on roads, power and communications. It remains subject to a definitive grant agreement and to Highland Copper demonstrating by March 31, 2028 that it has secured commitments for US$150 million of additional project financing. Completion conditions also include the establishment of at least 380 qualified jobs. Copperwood is fully permitted, but a construction decision and the broader financing package remain outstanding.

Signal reading

The state is reducing the infrastructure burden around a private copper project rather than replacing the project’s full capital requirement. The grant is also conditional. It becomes available through reimbursements after the company secures substantial additional finance and meets employment milestones. Public support and private capital therefore remain linked.

Next proof point: execution of the definitive grant agreement, evidence of US$150 million in additional finance commitments, a construction decision, commencement of infrastructure work and progress toward the employment conditions.

What happened

Slate Falls Nation and First Mining signed a Project Agreement covering the proposed Springpole Gold Project in northwestern Ontario through construction, operations and closure.

The agreement provides for Slate Falls Nation to participate in environmental management and monitoring, adaptive management, preferential training and employability measures, equity and participation in economic upside, business opportunities and the sharing of financial benefits. It also recognises Anishinaabe culture and includes cultural safety measures.

The agreement followed a community based consultation process. Most Slate Falls members live on the shores of Bamaji Lake, directly downstream from the proposed project in the Cat River watershed. The agreement defines participation and benefits, but it does not by itself authorise construction or replace the remaining regulatory, technical and financing decisions.

Signal reading

The agreement moves Indigenous participation beyond a single consultation stage. It establishes roles in environmental oversight, employment, business activity, culture and economic value across the project life. The strategic test is implementation: whether the agreed institutions give the Nation meaningful influence and whether the promised opportunities become measurable outcomes. This connects directly with Geopolitical Mining’s analysis of Indigenous partnership as part of mining viability in Canada.

Next proof point: formation of the implementation and monitoring structures, delivery of training and employment measures, business participation, the operation of equity and benefit provisions and evidence that Slate Falls Nation has continuing influence over environmental management.

What happened

St George Mining submitted an Environmental Impact Assessment and Environmental Impact Report to the State Environmental Foundation of Minas Gerais for the Araxá rare earths and niobium project.

The submission forms part of the application for a Preliminary Licence, the first stage of a three stage process that also requires an Installation Licence and an Operation Licence. The documents assess a proposed open pit mine and an industrial complex containing mineral processing, refining and metallurgical plants, together with waste, tailings and supporting infrastructure.

The studies reflect 14 months of baseline work and impact assessment across the physical, biological and socioeconomic environment. Permitting is proceeding in parallel with a feasibility study led by Worley and an assessment of potential use of existing regional processing infrastructure. No environmental licence or construction approval has yet been granted.

Signal reading

Araxá is entering environmental review as an integrated mine and processing system. The scope extends beyond the pit to refining, metallurgy, residues, tailings, water, radiation characterisation and community effects. That breadth matters because rare earth and niobium value depends on both extraction and the industrial route used to convert mineralisation into products.

Next proof point: regulatory review by FEAM and COPAM, the public hearing, a decision on the Preliminary Licence, completion of the feasibility study, the Installation Licence and a final investment decision supported by updated technical and economic evidence.

What happened

The National Laboratory of the Rockies and the University of Minnesota’s Natural Resources Research Institute launched the Joint Research Alliance for Innovative Materials and Processing for Advanced Critical Technologies, known as IMPACT.

The alliance combines high performance computing, artificial intelligence and experimental platforms with laboratory and pilot facilities. It is designed to work across technology readiness levels 1 through 9 using real ore, biomass and tailings, and to move from bench and micro pilot work to industrial rates of approximately 5 to 10 tons per hour.

Work is already under way on metal recycling and the recovery of lithium, scandium and copper. One project examines lithium recovery from aluminium alloys used in military aircraft. Other work addresses copper removal from scrap so recycled steel can meet product quality requirements while valuable materials are recovered.

Signal reading

Many mineral technologies fail between laboratory success and industrial deployment because performance changes with scale, feedstock variation and operating conditions. IMPACT is designed to test that transition with real materials and equipment before companies commit to full commercial plants. Its value lies in making scale itself part of the research infrastructure.

Next proof point: named industry projects, operating data at the 5 to 10 ton per hour scale, verified recovery and product quality, commercial partners and evidence that demonstration work leads to investment in operating facilities.