Project Vault, a new $12 billion US government stockpile, targets critical minerals but leaves permanent magnet manufacturing—especially neodymium-based and other rare earth magnets—as the key unresolved vulnerability in decoupling from Chinese supply. Wade Senti, CEO of Advanced Magnet Lab, argues for a market-led, innovation-first strategy that diversifies rare earth feedstocks and sources while backing alternative magnet chemistries such as Samarium Iron Nitride (SmFeN) and Manganese Bismuth (MnBi). For mining and processing projects, this implies demand for flexible mine-to-magnet flowsheets, equipment-intensive magnet plants, and closer integration with downstream OEMs.

Lundin Gold has outlined a large intrusive complex with multiple shallow copper-gold porphyry systems near its Fruta del Norte mine in Ecuador, including Sandia hole SND-2025-383 with 603 m at 0.68% Cu, 0.1 g/t Au, 2.85 g/t Ag and 16.32 ppm Mo from 27 m. A newly identified fifth porphyry centre, Chontas, 7 km south of the main deposit, extends the porphyry corridor to at least 10 km, while Trancaloma hole TRL-2025-340 returned 945 m at 0.33% Cu from 152 m. Lundin plans 133,000 m of drilling in 2026 at Fruta del Norte, budgeted at $85 million, to support a potential south-zone mine decision and district-scale copper-gold evaluation.

Kumba Iron Ore is investing ZAR11.2 billion (about US$600 million) to retrofit ultra-high-dense-media-separation (UHDMS) technology into the existing DMS plant at its Sishen mine in South Africa’s Northern Cape. The UHDMS circuit is designed to treat lower-grade ore and waste material at higher cut densities than conventional DMS, materially lifting product quality and overall yield. For process and plant engineers, the project signals a shift towards more intensive beneficiation to extend Sishen’s life of mine and improve margins without new pit development.