Liberty Star Minerals has staked 13 additional mineral exploration permits covering about 11 square miles in southeast Arizona, expanding its Hay Mountain Holdings footprint to roughly 45 square miles and making it the state’s largest mineral position not controlled by a major. The consolidated district-scale package in the Tombstone Mining District now includes Earp Ridge Mines, LLC and Red Rock Mines, LLC, covering copper, gold, molybdenum and other critical minerals identified by geologic mapping, rock sampling and induced polarisation surveys. Chairman Pete O’Heeron is targeting a “serious mining partner” to advance porphyry copper-style prospects in this prolific belt.

Drilling at BMC Minerals’ Kudz Ze Kayah project in Yukon has intersected thick, high-grade massive sulphides in the Krakatoa zone, with hole K26-560 cutting 25.1 metres at 180 g/t silver, 9.7% zinc, 1 g/t gold, 0.3% copper and 3.4% lead from 327.5 metres, confirming 2016 intercepts such as 20.8 metres at 218 g/t silver and 8.6% zinc. The project now has positive Yukon and federal decision documents, a 2023 feasibility study outlining a US$835 million pre-tax NPV (7%), 42% IRR, nine-year mine life and US$492 million pre-production capex, but faces continued opposition from Kaska Nation groups over caribou and environmental impacts as BMC targets a final investment decision in late 2027.

Morgan Stanley’s “Space 60” framework singles out five North America-linked miners—MP Materials, Almonty Industries, Freeport-McMoRan, Alcoa and Teck Resources—as core to the emerging space hardware supply chain ahead of a potential US$2 trillion SpaceX IPO. Freeport and Teck supply copper for high-performance rocket engine thermal systems, while Teck also produces gallium for radar, MP Materials is the only US rare earths producer for satellite and launch magnets, and Almonty provides non-Chinese tungsten for radiation shielding. Alcoa’s aluminium underpins primary rocket, satellite and spacecraft structures.