This week’s mining finance cycle was shaped by familiar forces: volatile silver, firm copper pricing, renewed critical minerals diplomacy, and continued capital concentration into Tier-1 jurisdictions. Governments are recalibrating royalty regimes, majors are tightening guidance, and strategic supply chains are moving higher up the agenda.
Markets remain active, but disciplined. Reality is setting the pace.
Week-end price comparison: 6th vs 13th of February 2026
Week end prices shown are as of 17:00 UTC on February 13th 2026.
Copper was little changed on the week (+0.6% WoW), with price action looking more like consolidation after January’s record run than a fresh leg higher, trading volumes cooled while open interest ticked up, consistent with rotation and selective re risking rather than a broad momentum chase.
Gold firmed (+0.9% WoW) as safe haven demand lingered and markets fixated on upcoming inflation prints and the path for 2026 rate cuts, supportive for bullion if policy expectations stay dovish.
Silver’s modest weekly uptick (+0.3% WoW) reads as stabilization after the late January air pocket, with sentiment still hypersensitive to geopolitical headlines and positioning washouts.
Platinum and palladium slipped on the week, with the auto demand narrative still a drag, especially for palladium, where surplus risk remains a recurrent theme.
This Week's Key Mining and Capital Market Stories
Ghana’s parliament is again considering the revised mining lease for the Ewoyaa lithium project, which would become West Africa’s first commercial lithium mine. The Australian developer Atlantic Lithium had its original agreement withdrawn amid concerns it short-changed Ghana, and is now offering a sliding royalty tied to lithium prices as negotiations continue. Final ratification is required before development can proceed.
Atlantic Lithium has resubmitted a revised mining lease for the Ewoyaa project to Ghana’s Parliament, restarting approval for what could be West Africa’s first lithium mine. The update introduces a sliding royalty of 5%–12% linked to spodumene prices. Ratification is still required before development can proceed.
Illegal artisanal gold mining along South Africa’s Blyde River is releasing sediment and toxic chemicals such as cyanide and mercury into waterways feeding the Greater Kruger ecosystem. Aerial surveys show hundreds of sites degrading river habitats and threatening downstream water security. Enforcement efforts continue but remain overwhelmed by the scale of activity.
Caledonia Mining says its Bilboes project could become Zimbabwe’s largest gold mine after securing US$150 million in convertible bond financing. First production is targeted for late 2028, ramping to about 200,000 oz per year from 2029, marking a major new development in the country’s gold sector.
AngloGold Ashanti has approved a phased expansion at its Obuasi mine in Ghana, including new underground infrastructure to extend mine life beyond 12 years. The project targets a full production restart by 2029 and is aimed at restoring output closer to historical peak levels.
Zambia’s copper production rose 8% in 2025 to 890,346 tonnes, up from 825,513 tonnes in 2024, supported by stronger output at Konkola, Mopani, Kansanshi and Lubambe. The country still missed its one-million-tonne target, but the increase signals improving operational stability as Zambia targets 3 Mtpa by 2031.
St Barbara is advancing a Canadian growth strategy centred on redeveloping its 15-Mile gold project in Nova Scotia, targeting average production of about 103,000 oz per year over an 11-year mine life. The plan includes expanded regional exploration to establish a broader gold hub in a stable jurisdiction.
Ontario and Finland rank top in Mining IQ’s 2025 World Risk Insights, with Ontario retaining the world’s lowest mining investment risk and Finland rising to second place out of 120 jurisdictions. The report assesses risk across legal, governance, social, environmental, fiscal and infrastructure categories, highlighting strong governance and improved legal frameworks in both regions.
South America is emerging as a comparatively low-risk hub for critical minerals such as copper, lithium, nickel and rare earths, offering large reserves alongside moderate political risk and pro-Western alignment. Argentina, Brazil, Chile and Peru stand out in assessments, making the region a key anchor for diversifying supply chains away from higher-risk jurisdictions.
The U.S. Office of Surface Mining Reclamation and Enforcement (OSMRE) has awarded nearly US $120 million in grants to reclaim abandoned coal mine sites across the United States. The funding will support cleanup of legacy environmental damage, reduce hazards such as land subsidence and water pollution, and improve conditions for communities and ecosystems affected by historic coal extraction.
A Brazilian federal court sentenced mining boss Rodrigo Martins de Mello to over 22 years in prison for operating illegal gold mining inside the Yanomami Indigenous Territory. He was convicted of leading a criminal group, money laundering and environmental crimes, and ordered to pay R$31.7 million in damages.
Jangada Mines has updated its corporate presentation to emphasise its gold focus in Brazil, highlighting key assets and exploration targets aimed at advancing value. The refreshed materials underscore strategic priorities within Brazil’s prolific gold provinces and intend to support investor engagement and project development narratives.
First Quantum is reportedly seeking a buyer for its Turkish copper mine, potentially divesting the asset as part of portfolio reshaping. The move reflects ongoing consolidation and capital reallocation in the copper sector, where operators adjust asset bases amid price volatility and prioritise investment in core regions and projects.
Indonesia has announced cuts to its nickel export ban timetable just as nickel prices rally, aiming to unlock more sulphide ore for domestic processing while supporting global supply. The policy shift is designed to sustain investment in downstream refining capacity and balance market tightness amid strong EV battery demand.
A U.S. Geological Survey report finds that America’s mineral supply chains remain heavily reliant on China for processing and refined outputs, despite policy efforts to diversify. Critical materials including rare earths, graphite and other strategic metals continue to flow through Chinese facilities, highlighting ongoing vulnerability in U.S. sourcing and industrial capacity.
Indonesia’s investment ministry held talks with Agincourt Resources over the future of the Martabe gold mine, discussing production plans and investment commitments. The meeting underscores Jakarta’s ongoing focus on securing foreign capital while balancing domestic policy priorities for mineral development. Both sides signaled interest in advancing operations and stabilising project outlooks.
The United States is expanding efforts to secure critical minerals in Central Asia, highlighted by a major government-backed $1.1 billion tungsten project in Kazakhstan. The push aims to counter China’s dominance in key metals markets, though local partners say deeper investment and processing capacity remain needed for Washington to establish a meaningful foothold.
India is navigating a strategic choice between pursuing autonomy in critical minerals and aligning more closely with global partners. Policymakers are balancing domestic resource development with international cooperation frameworks, aiming to secure supply chains while maintaining geopolitical flexibility. The debate reflects broader tensions in sourcing, processing and investment amid rising demand for essential metals.
France plans to invest €50 million for a stake in Imerys’s lithium project in France, aiming to secure domestic supply of a critical battery metal and reduce reliance on imports. The move supports EU strategic materials goals and bolsters local refining and processing capacity for lithium amid rising EV demand.
Finland has opened what it says is Europe’s first lithium mine linked to battery-grade production, as Keliber begins extraction in western Finland and ramps an integrated supply chain feeding a refinery in Kokkola. The project is pitched as a shorter, more secure alternative to Chinese imports as Europe tries to localise battery materials.
Turkish investment group OYAK’s subsidiary Miilux Oy has completed its acquisition of Finnish mining services firm HGG-Blom to broaden its footprint in Europe. The deal expands OYAK’s service capabilities across exploration, drilling and geotechnical support, reflecting growing interest by regional players in building out integrated mining service networks on the continent.
The UK and US have signed a memorandum of understanding to strengthen critical mineral supply chains for clean energy and industry, aiming to reduce reliance on concentrated sources such as China. The deal aligns with the UK’s Critical Minerals Strategy, supports domestic extraction and processing, and is intended to unlock private investment into battery metals and rare earths.
Antofagasta and Anglo American are due to report quarterly earnings as mining giants navigate mixed commodity markets and cost pressures. Analysts expect copper producers to demonstrate resilience amid softer prices, while operational performance and capital discipline will be key focus areas. Results may offer insight into broader metals sector momentum and investor sentiment.
Portugal’s proposed Barroso lithium mine, labelled “strategic” under the EU’s Critical Raw Materials Act, is now facing a legal challenge at the EU’s top court. Community and environmental groups argue the fast-track designation overlooks risks to water, biodiversity and livelihoods, reopening the clash between supply security and local impact.
Albemarle plans to idle its Australia lithium plant after missing profit expectations, reducing output as market conditions soften. The move reflects near-term pressure on spodumene margins and signals how cost challenges and pricing volatility are prompting producers to adjust supply, even amid longer-term lithium demand growth forecasts.
Australia is positioning itself as a key supplier in the global minerals boom, leveraging strong production of copper, lithium, nickel and critical commodities. The article highlights growing export volumes, investment in processing capacity and government policies aimed at strengthening Australia’s role in global supply chains, particularly for energy transition metals.
Metso has agreed to acquire Newcastle-based MRA Automation, expanding its automation and digital solutions portfolio in the mining sector. The deal strengthens Metso’s capabilities in plant optimisation and control technologies, adding MRA’s expertise in data-driven systems for crushing, screening and processing equipment within Australia’s resources industry.
Ardea Resources has secured A$1 billion in funding for its Goongarrie Nickel-Cobalt Joint Venture in Western Australia, backing development of a large laterite nickel-cobalt project. The financing supports progression toward production and reflects strong investor interest in nickel and cobalt amid rising demand for EV batteries and energy storage metals.
Antipa Minerals’ latest Fiama Lode assay results in WA’s Pilbara show notably high nickel and copper grades at shallow depths, boosting confidence in the project’s resource upside. The results enhance nickel-cobalt sulphide potential in a globally relevant battery metals province, supporting Ardea’s broader Goongarrie JV development narrative.
BME is developing local detonator manufacturing and blasting capability in Western Australia, aiming to reduce reliance on imported explosives components. The initiative supports regional supply chain resilience for mining operations, improves workforce skills in blast engineering, and could shorten lead times for mining services that depend on reliable explosive supplies.
Minestarters has moved through its Discovery & Testnet phase, with the website and social channels live and the core team across mining, compliance, tech and marketing now in place. The public MVP testnet, initial project onboarding and compliance stack are underway. Next comes SPV formations and MVP Mainnet launch in Q2, followed by scaling allocation mechanics, compliance expansion and NAV tracking in the second half of 2026.
I spent time on the ground at both 121 Mining Investment in Cape Town and Mining Indaba 2026 this year. These events are among the few places where serious conversations about financing, project execution and jurisdiction risk actually happen face-to-face. Markets, capital sources and operators are all actively repositioning, and the tone was much more practical than theoretical.
I’ll be back at both in 2027, and I’m already looking forward to continuing those discussions with people who are building real mining outcomes, not just talking about them. If you plan to attend next year and it makes sense to connect, feel free to reach out directly at md.nally@minestarters.com.
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