Sandvik has appointed Patrick Murphy as President of its Mining business area and member of Sandvik Group Executive Management, effective 1 July 2026, succeeding Mats Eriksson, who will step down ahead of his planned 2027 retirement. Murphy currently leads Sandvik’s Rotary Drilling division, giving him direct oversight of blasthole and production drilling systems that are central to large open-pit operations. The leadership change signals continuity in Sandvik’s mining equipment strategy, particularly around drill fleet technology and service models for high-production sites.

War in Iran and a May 2025 US executive order to quadruple nuclear capacity to about 400 GW by 2050 are fuelling expectations of a new wave of reactor construction, with uranium demand already exceeding mine output by 50–60 million lb. per year. Cameco, which produces about 15% of global uranium from assets including the McArthur River high‑grade mine and owns 49% of Westinghouse Electric, has signed a nine‑year, ~22‑million‑lb. uranium supply deal with India worth an estimated US$1.9 billion from 2027–2035. Spot uranium is trading near US$86/lb., term prices around US$90/lb., and utilities are beginning to accept three‑digit pricing as long‑term uncovered requirements through 2045 widen.

Lion One Metals shares fell over 30% to C$0.14 after cancelling a C$15 million private placement with Arete Capital Advisors and announcing the exit of CEO Campbell Olsen just two months into the role. The Arete deal would have issued 44.26 million units at C$0.34, each with a warrant at C$0.39, and included a master services agreement making Arete operator of the Tuvatu underground gold mine in Fiji. Tuvatu, designed for about 331,400 oz/year over five years, produced only 4,200 oz last quarter amid equipment, power and development constraints, while Lion One faces a senior loan default notice from Nebari and a shareholder move to remove directors.