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.

Gold prices rebounded sharply on Wednesday, with spot bullion jumping up to 3.6% to above $4,700/oz and three‑month futures near $4,710/oz, as hopes for a US‑Iran peace deal eased expectations of prolonged high interest rates. Silver tracked the move, gaining more than 6% to almost $78/oz, after a 10‑week Gulf conflict had previously knocked gold about 11% lower despite its safe‑haven status. Analysts from Zaner Metals and ING say easing inflation fears could reopen the door to US Federal Reserve rate cuts, while continued central‑bank buying remains a key longer‑term support.

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.