British Columbia’s mining sector generated C$19.6 billion in economic output, supported 56,000 jobs and delivered nearly C$6 billion in government revenue in 2024 from just 18 mines and two smelters, according to a new MABC economic impact study. Three of four mining projects on the province’s 18-project priority list, including Teck’s Highland Valley Copper extension and Skeena’s Eskay Creek, now have permits, while 24 proposed northern B.C. projects could add over C$67 billion in construction-phase output. MABC CEO Michael Goehring warned that DRIPA-related legal uncertainty, extended permitting timelines and new PST on professional services risk deterring investment, as B.C. also faces a forecast need for 5,000 additional mine workers over the next decade.

Trafigura is negotiating with Egyptalum and Metallurgical Industries Holding Company to develop a 300,000‑tonne‑per‑annum primary aluminium smelter and a 150,000‑tpa anode plant at Egyptalum’s Nag Hammadi complex, nearly doubling the site’s current output. The project, costed at $750–$900 million, would be delivered via a newly incorporated company, with Trafigura as minority equity investor, debt provider and long‑term offtake and feedstock counterparty. The planned capacity targets tight ex‑China supply, after Gulf smelter disruptions and a decade‑long 6‑million‑tonne drawdown in non‑Chinese inventories.

TMCR is paying $132.5 million for a 1% index-priced gross overriding royalty on Mesabi Metallics’ Nashwauk taconite project in Minnesota, which is designed for up to 8.5 million tonnes per year of direct-reduction-grade pellets over a 23+ year mine life. The nearly 93%-complete mine and pellet plant, backed by India’s Essar Group and up to $10 billion in US Export-Import Bank support, targets first output in H2 2026 and full production in 2027. TMCR will fund the deal via a $75 million private placement at $13 per share and a proposed $50 million senior secured credit facility.