Resource nationalism and security stockpiles are reshaping metals markets, with Indonesia capping 2025 nickel ore output at about 200 million tonnes and the US launching Project Vault, a US$12 billion critical minerals stockpiling programme, while Canada commits C$2.5 billion under a Defence Production Act-style framework. China still refines roughly 60% of global lithium and cobalt and produces about 69% of rare earths and 83% of tungsten, pushing buyers to prioritise NATO alignment, energy reliability and governance over pure cost. Canada’s advantage in stability, tax incentives such as the Mineral Exploration Tax Credit (to March 2027) and deep mining finance is narrowing unless operators accelerate electrification, automation and digital operations.

Rio Tinto has secured a US$1.175 billion financing package from four international lenders to advance construction of its Rincon lithium brine project in Argentina’s Salta Province. The package combines loans from the International Finance Corporation, IDB Invest, Export Finance Australia and the Japan Bank for International Cooperation, signalling strong multilateral backing for large-scale lithium chemicals capacity. For project engineers and contractors, the funding de-risks early works, evaporation pond construction and processing plant delivery, and locks in capital for associated power, water and access infrastructure in the high-altitude Puna.

Nordec has agreed with Gruvaktiebolaget Viscaria to deliver the full processing plant structure for the restarted Viscaria copper mine in Kiruna, Sweden, covering groundworks, foundations, structural steel and concrete framing, and the building envelope. The contract places Nordec in charge of integrating civil works with the process plant layout, a critical interface for heavy equipment loads, vibration control and serviceability in Arctic conditions. For engineers, early coordination of foundations and steelwork with crusher, mill and materials-handling loads will be central to programme and cost control.