It’s been another busy week across the mining and capital markets, with a steady flow of IPOs, private placements and project financing signalling that capital is slowly finding its way back into the sector. From lithium and uranium raises to royalty deals and early-stage exploration funding, the financing side of mining remains active despite persistent geological risk and long project lead times.
At the same time, major players continue positioning around copper, lithium and critical minerals as supply pressures from electrification and industrial demand keep building.
Below are some of the key stories shaping mining finance and project development across Africa, the Americas, Europe, Asia, and Oceania this week.
Week-end price comparison: 6th vs 13th of March 2026
Commodity markets remained volatile this week as energy prices continued to rise while most metals paused following strong gains earlier in the year. Strength in oil and coal markets supported the broader commodities complex, although precious metals and several industrial metals experienced mild corrections as investors consolidated positions after recent rallies.
Precious metals
Week end prices shown are as of 17:00 UTC on March 13th 2026.
Precious metals moved lower this week as markets experienced moderate profit-taking following their strong performance earlier in the year. Gold declined 1.7% week-on-week, falling to $5,047.90/oz, while silver dropped 4.1% to $80.33/oz.
Platinum group metals also weakened, with palladium down 4.4% and platinum falling 4.2% over the week. Despite the short-term pullback, all four metals remain significantly higher on a year-over-year basis, suggesting the recent move reflects consolidation rather than a fundamental shift in demand.
Base & Minor Metals
Week end prices shown are as of 17:00 UTC on March 13th 2026.
Base metals were mixed this week. Copper edged higher by 0.4%, reaching $12,896/ton, while aluminum gained 0.7%, supported by steady industrial demand and tightening supply expectations.
Iron ore recorded the strongest gain among industrial metals, climbing 3.8% to $104.72/ton, supported by resilient steel demand and continued infrastructure activity in key Asian markets.
Energy & Fuel
Week end prices shown are as of 17:00 UTC on March 13th 2026.
Energy markets continued to show strong momentum. Crude oil rose 9.4% week-on-week, surpassing the $100 per barrel mark to reach $100.98, reflecting persistent supply concerns and firm global demand.
Coal also posted a strong gain of 9.3%, as elevated energy prices and strong power generation demand supported the market.
In contrast, natural gas slipped 2.2%, while uranium remained broadly stable, easing 0.5% over the week.
This Week's Key Mining and Capital Market Stories
Rising gold output in Ghana and South Africa, alongside new oil finds off West Africa and agricultural exports from East African producers, are prompting regional market integration and local currency trading. While tokenised commodity platforms attract attention, geological depletion and infrastructure deficits mean domestic value retention remains an uphill climb.
Lithium Africa has upsized its private placement to C$8.5 m, led by a C$3 m commitment from Purpose Global Resource Fund. At C$0.20 per unit this capital will accelerate drilling and resource definition at its Zulu lithium project in Zimbabwe, supporting critical stage development amid tightening supply fundamentals.
With Kakenenwa Muyangwa’s recent appointment to ZCCM’s board, Zambia’s state copper investor gains fresh oversight aimed at boosting asset performance. Her experience promises renewed focus on mine optimisation and joint-venture strategies at a time when geological constraints and rising global demand underline the need for disciplined production and value maximisation.
Sibanye-Stillwater’s 13% profit rise and $208 million dividend reflect robust rand gold prices and disciplined cost management, even as South African ore grades dwindle and power and labour pressures mount. Such payouts signal confident cash flow stewardship in a sector facing structural depletion and input-cost volatility.
Zambia’s state miner has unveiled plans to boost output by 40%, a move underscored by US and Chinese competition for copper amid energy transition demand. Yet geological depth, power constraints and financing risk delaying new output, reminding markets that African expansions face long lead times despite geopolitical urgency.
Kaoko Metals has lodged an ASX listing prospectus to fund copper exploration in Namibia’s Kalahari Belt, underpinning its strategy amid surging electrification demand. While successes by established peers highlight regional potential, Kaoko remains at an early drilling phase, so geological uncertainty and capital intensity will test its maiden programme.
Zambia’s 6.1% GDP forecast for 2026 underscores renewed mining investment and supportive copper prices, yet persistent power deficits and debt strains could cap expansion. As Africa’s second-largest copper producer, the country’s growth outlook matters for global supply, though historical volatility in commodities and infrastructure constraints warrant caution.
Rising to fourth-largest African recipient of mining investment underscores investors’ faith in Tanzania’s gold and nickel potential, yet fiscal and regulatory uncertainties risk stalling new projects. This ranking signals strong interest, but actual output gains often lag sentiment by years due to geological, infrastructure and permitting complexities.
Silver Bow Mining’s planned $12-15 IPO to raise $50 million underscores investors’ appetite for exploration-stage metals juniors, despite persistent geological and execution risks. With no established resources, success hinges on drill results and metal markets. This raising highlights market’s cautious optimism in early-stage gold-silver ventures.
Orogen Royalties has secured up to $10 million via a non-brokered placement, including 30% warrants, to accelerate its royalty portfolio expansion. In today’s capital-constrained environment juniors struggle to fund projects; this infusion supports disciplined royalty acquisitions, balancing geological risk and long-lead production realities while preserving cash-flow stability.
Vale’s decision to fast-track a midyear IPO for its base metals arm underscores management’s confidence in copper and nickel demand amid tightening supply. Unlocking this unit’s valuation could fund expansion but spin-off outcomes vary, reminding markets that geological complexities and project lead times ultimately anchor returns.
Gelum’s C$1.95m non brokered placement and 600,000 stock option grant secures funding for initial drilling at its West Graham nickel and copper project, addressing the geological risk of sulphide discovery. Structured warrants at C$0.75 align investor upside with exploration milestones while maintaining near term cash runway.
By acquiring New Brunswick’s Havelock gold and antimony project and securing CA$2m financing, Au Gold aligns with rising antimony demand and gold market strength. Early stage drilling must contend with variable vein hosted mineralisation and metallurgical complexity yet the deal underscores investor appetite for critical metal exposure in established camps.
First Atlantic’s $3.8 million no-warrant financing accelerates pilot-scale processing of its high-grade awaruite nickel-cobalt alloy deposit in Atlantic Canada. Securing focused capital without dilution highlights growing institutional appetite for upstream battery metals, though metallurgy validation and scale-up remain early-stage hurdles before any commercial output.
Highway 50 Gold has increased its non-brokered private placement to CA$1.75 million at CA$0.10 per unit, each carrying a CA$0.15 warrant exercisable over two years, ensuring immediate funding for Paymaster drilling. While warrant-linked financings boost short-term capital, they also herald potential dilution if mineralisation proves elusive.
Endurance Gold’s C$8.3 million oversubscribed financing boosts exploration momentum across its Green Bay and Malartic East projects, underpinning new drilling programmes and resource definition in proven Abitibi greenstone belts. Flow-through units offer investors tax incentives while reflecting robust support for grassroots gold exploration despite broader junior market headwinds.
Mogotes Metals has secured TSXV approval to raise C$3.3m via 41.25m units at C$0.08 (with warrants at C$0.12), funding campaigns at its Colombian Arcas and El Porvenir prospects. This injection underwrites high altitude complex gold copper exploration yet technical and permitting hurdles remain typical of early stage Latin American miners.
Chile’s Enami is auctioning 410,000 tonnes of oxidised gold ore at c.10.9 g/t, unlocking around 144,000 ounces from artisanal miners. While modest by global standards, this sale boosts liquidity for local smelters and underscores processing and water constraints in Chile’s northern oxide gold sector.
Peru forecasts copper output topping 2.6 Mt, zinc rising to 1.5 Mt and silver to 205 Moz by end-2025, under new mining expansions. While promising for global supply, entrenched social conflicts, bureaucratic delays and ore depletion suggest realising these volumes may face significant headwinds.
BHP’s US14 billion Chilean copper expansion underscores belief that electrification driven supply deficits will intensify. By funding new infrastructure at Escondida and Spence, BHP addresses geological and water constraints head on. This strategic capex underlines long lead times in major copper projects and tighter markets ahead.
By committing $1bn to Latin American critical minerals projects, the US aims to diversify supply chains for lithium, copper and cobalt, reducing dependence on China. Geological complexity, lengthy permitting and resource nationalism mean benefits will emerge slowly, but this investment lays groundwork for resilient EV and renewable energy industries.
Enami’s tie-up with Rio Tinto at Altoandinos could unlock roughly a quarter of Chile’s lithium endowment, reshaping supply dynamics amid surging electric-vehicle demand. Still in initial appraisal, the project faces high-altitude water constraints and a multi-year permitting cycle, underscoring that meaningful output remains years away.
Fortescue’s acquisition of two early-stage copper licences in Peru’s Caraveli and Lydia districts expands its base-metals portfolio beyond iron ore, aligning with rising decarbonisation-driven demand. Though requiring extensive exploration and permitting, the deals tap Peru’s prolific geology and underscore looming supply pressure amid tightening capex and water challenges.
Jaguar Mining has resumed gold output at its Turmalina mine in Brazil after a six-month embargo was lifted, restoring about 70% of prior throughput. Renewal bolsters near-term supply from Minas Gerais yet underscores sensitivity of production to regulatory and environmental hurdles in high-grade districts.
Sunbird Minerals, Maaden’s newly floated unit, surged over 5% on debut after raising 250 million riyals despite regional tensions. This reflects growing investor appetite for early-stage Saudi mining, though projects remain technically and developmentally challenging. Broader SME listings could bolster capital depth for underexplored mineral endowment amid economic diversification.
Surging Asia physical premiums are pushing aluminium costs to near two year highs, signalling pronounced regional supply tightness as Chinese restocking meets limited smelter output under high energy prices. This reflects enduring geological and energy constraints on expanding capacity, underpinning sustained margin pressure for downstream users globally.
Proposed 20% coal and 10% nickel production caps in Indonesia, aimed at preserving reserves and cutting emissions, risk tightening global supply and driving price volatility. As the world’s biggest nickel ore provider, Jakarta’s move echoes the 2014 export ban that destabilised battery metals markets.
While China’s duty-free access scheme officially lifts tariffs on African exports, entrenched Chinese logistics and processing firms stand to reap the bulk of benefits, as limited local refining capacity and high transport costs persist. History suggests similar generosity seldom translates into substantial African value addition.
Lynas’s new offtake accord with Japan hedges against China’s rare-earth price swings by fixing volumes and rates, strengthening supply for EV and renewables manufacturing. It trims Beijing’s market leverage and underpins downstream separation capacity, though heavy-earth availability and processing bottlenecks remain a systemic constraint.
Cove Capital’s collaboration with Saudi conglomerate Olayan signals western investors into underexplored Arabian critical minerals sector. Combining financial firepower with local access could unearth lithium, nickel and rare earth deposits, yet arid geology and nascent infrastructure mean discoveries face long lead times despite Saudi drive to diversify from oil.
DEScycle’s joint venture with Mitsubishi Materials marks a step towards domestic e-waste refining in Japan, unlocking secondary copper, gold and critical metal streams. Given Japan’s scant primary ore reserves, this partnership strengthens supply security and meets circular economy mandates.
Copper prices have climbed as robust Chinese PMI data and rising import volumes confirm industrial recovery. With global inventory at multi-year lows and the prospect of limited supply growth due to declining ore grades and lengthy project timelines, markets face a tightening squeeze.
Recent drilling at Trojarova yielded high-grade antimony intercepts up to 7.0 %, averaging around 4 % Sb, suggesting a robust maiden resource. Europe’s antimony supply is limited, so developing a local source could enhance critical-metal security and reduce reliance on concentrated global producers. Essential for flame retardants and battery alloys.
Medaro Mining’s newly granted exploitation and environmental permits for its Bastnäs project in Bergslagen unlock access to a geologically significant mined REE and base metal site. With Sweden’s stringent approval process cleared, Medaro can commence drilling and resource definition, a crucial step toward quantifying recoverable volumes in this underexplored district.
Omega Pacific has confirmed a 38 million-unit private placement at C$0.10 per unit, raising C$3.8 million chiefly backed by directors. These funds accelerate nickel-copper exploration in Finland’s greenstone belts. Director participation signals strong internal conviction amid challenging equity markets for juniors, underpinning near-term drilling plans.
Group Eleven’s C$12M bought deal, including full exercise of a C$1.56M overallotment option, secures funding to advance zinc projects in Ireland and Germany. Amid tightening global zinc supplies and Europe’s reliance on imports, this capital boost underpins critical drilling and studies, bridging geological risk towards potential project development.
Glencore plans to bolster copper output through major expansions and partnerships, positioning itself at the forefront of supply as electrification drives demand. Its scale and low-cost assets can help offset looming deficits, though geological complexities, long lead times and jurisdictional risks mean delivery remains challenging amid volatile prices.
Ongoing conflict in Ukraine injects fresh uncertainty into European gas supply, exposing reliance on dwindling North Sea output, fixed storage caverns and pipeline imports. Volatile spot prices and constrained flexibility risk delaying renewable deployment and stretching balancing requirements, highlighting gas’s persistent role and vulnerability in the energy transition.
BRICS plans for a gold backed currency underscore a strategic push to dilute dollar dominance, but geological supply limits and annual production of just 3,500 tonnes, alongside historical inflexibility of gold standards, suggest actual implementation and liquidity may remain distant prospects, even as central banks diversify reserves.
Conquest’s 2026 programme at Valimaki targets high-grade gold within Finland’s Lapland Greenstone Belt, adding drilling, IP and soil surveys to expand the modest 35,000-ounce inferred resource. Success hinges on rigorous data beneath glacial cover, a vital step towards defined reserves in a low-risk jurisdiction with rising exploration costs.
Tempest Minerals will acquire Zealandia Resources in a $2 million scrip deal, securing four epithermal gold projects across New Zealand’s North Island. The portfolio covers 145 km² within the Taupo Volcanic Zone and historic Hauraki goldfields, offering multiple drill-ready targets supported by geophysical surveys, geochemistry and historic drilling data.
Export Finance Australia’s A$385 million backing of Rio Tinto’s Rincón lithium venture secures local supply deals and de-risks construction, underscoring Australia’s manufacturing edge in critical minerals amid tight brine reserves and volatile pricing. Delivery still depends on long lead times and market cycles.
A new geological map highlights New Zealand’s untapped critical mineral potential, identifying deposits of metals such as rare earths, titanium, copper and gold across several regions. While these resources could support electric-vehicle supply chains and advanced manufacturing, environmental protections, national parks and permitting hurdles mean many prospects may remain difficult to develop commercially.
Surging project finance in Australian base metals mining signals confidence in its geology and regulatory stability. Engineers should note a skew towards copper-gold ventures and reinforced infrastructure demands. While tokenisation trials linger, this influx reflects real-world production growth, export reliability and upcoming skill shortages rather than speculative fads.
Pan African’s proposed all-scrip acquisition of Emmerson for A$311 million signals gold-sector players branching into fertiliser minerals, adding Emmerson’s potash-phosphate Khemisset project to its portfolio. While diversification could hedge volatile metal prices, geological scale-up and infrastructure demands risk protracted development, echoing past fertiliser project delays.
As Australia aligns with Canada’s newly formed buyers club for critical minerals, local producers gain pre-funded offtake access and finance de-risking but may trade upside for price discounts. Diversifying away from Chinese demand shores up supply chains for EV metals yet underscores ongoing geological and market volatility challenges.
Uranium explorer Wolfe Energy has increased the size of its planned ASX IPO after receiving more than $30 million in investor bids, far exceeding the original target. The company lifted the raise from about $7 million to roughly $12.5 million, highlighting strong market appetite for uranium plays as nuclear demand and supply concerns continue to support the sector.
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