Fortuna Mining has secured Senegalese government approval of the environmental and social impact assessment for its Diamba Sud gold project in eastern Senegal, clearing a key hurdle ahead of a mining permit decision following its 4 Feb 2026 application. A 2025 preliminary economic assessment reported an after-tax IRR of 72% and a US$563 million NPV (5% discount rate) at US$2,750/oz gold, with a 2026 project budget of US$100 million and final investment and construction decision targeted by mid‑2026. For engineers, the ESIA decree signals regulatory alignment for detailed design, site preparation and construction planning.

Rare-earth refiner Phoenix Tailings has secured a conditional $500 million long-term loan from the US Pentagon’s Office of Strategic Capital to build its ‘Freedom Facility’, anchoring an approximately $1 billion financing package for domestic rare earth midstream processing. The plant, targeted to start initial operations in 2028, will provide large-scale separation and metallisation of both light and heavy rare earths from concentrates, recycled materials and secondary feedstocks, complementing existing metallisation sites in Burlington, Massachusetts, and Exeter, New Hampshire. For miners and recyclers, this creates a US-based outlet for mixed rare earth feed, reducing reliance on Chinese processors and tightening mine-to-magnet integration.

Central banks added a net 17 tonnes of gold in April and have accumulated about 1,000 tonnes over the past four years, yet the share stored with the Swiss National Bank has halved to 6% from 12% as institutions diversify away from Switzerland’s traditional neutrality. Nearly 90% of reserve managers expect to increase gold holdings, while 74% expect to cut US dollar reserves within five years, with advanced and emerging economies now aligned on this view. About half plan to fund new gold via local-currency domestic programmes rather than selling dollars, creating a structurally different demand channel for gold miners.