Next Wednesday, the House Select Committee on China will hold a hearing on China's Predatory Pricing, exploring How the Chinese Communist Party Manipulates Global Mineral Prices to Maintain Its Global minerals Dominance. Among those testifying will be Jonathan Evans, Chief Executive Officer of Lithium Americas. We'll certainly be tuning in.

In industry news, Ivanhoe Electric has secured a $200 million bridge loan from a syndicate of banks to support its construction of its Santa Cruz project in Arizona. The company is working to begin construction in the first half of 2026 and then begin copper cathode production in late 2028.

And we close today remembering a hero. After days of search and rescue efforts, the body of mining foreman Steve Lipscomb was recovered yesterday. Lipscomb, who was also a Marine Corps veteran, became trapped Saturday, after his crew made contacted with an unknown water pocket, flooding the area where the team was working. He was last seen ensuring that every member of his crew made it out safely. Our thoughts and prayers are with his family.

The longest government shutdown in history is now in the rear view mirror, Congress is back and the government is back in business. And while we're hoping that this means the Congress will return to addressing key priorities—permitting reform among them--the deal only funds the government until January 30, so we could be right back here in a little over two months.

A 50-page report from the bipartisan U.S. House Select Committee on China finds that China for decades has worked to manipulate minerals prices, using its control of the minerals markets as an economic weapon to expand its manufacturing sector and its geopolitical influence. The report makes a range of recommendations, including price controls and increased oversight of price reporting agencies.

And Reuters has an interesting piece on 6 states to watch as increasing natural gas prices drive a shift towards more coal use. Arkansas, Indiana, Michigan, Ohio, South Carolina and Wisconsin - have roughly equal-generation shares from coal and gas within their electricity mixes, and are in the best position to use coal as a price buffer when gas prices are up. Last year, all 6 states sharply boosted their coal use while decreasing gas-fired generation.

It's an exciting day here in Washington. The House returns to DC for a vote that could, finally, end the government shutdown.

And it's another day, another coal plant that's needed to keep the lights on. Earlier this week, Xcel Energy joined the Colorado Energy Office to file a petition asking state utility regulators to extend the lifespan of the Comanche 2 coal power plant, which is currently scheduled to cease operations by Dec. 31. The coalition wants to keep the plant online through 2026.

Finally, looking abroad, the International Energy Agency warned in its annual World Energy Outlook that China's control of the minerals supply chain creates "vulnerabilities" for the rest of the world. In its press release, the IEA said, quote, "A single country is the dominant refiner for 19 out of 20 energy-related strategic minerals, with an average market share of around 70 percent. Geographic concentration in refining has increased for nearly all key energy minerals since 2020, and particularly for nickel and cobalt." It called for "stronger action by governments" to boost mineral supply.

When it comes to the government shutdown, there's a light at the end of the tunnel – let's hope it's not a train.

The Senate worked through the weekend to come up with a compromise deal that would guarantee federal workers back pay from the shutdown, and bring some who were laid off back to work, under a plan that would keep most agencies funded through January. Although it seems there will be enough votes to get this done, it's not a done deal yet. Senator Rand Paul is objecting to a provision in the Agriculture spending bill and the House will need to ratify whatever the Senate does.

In a sign things are looking rosier with US-China trade relations, China yesterday lifted a year-long ban on exports of gallium, germanium and antimony to the US. China's commerce ministry said it will pause its export ban on these minerals and related end-use items for about one year.

And top miner Barrick is reporting a record quarter. Barrick reported third-quarter revenue of $4.14 billion, and operating cash flow reaching $2.4 billion in the third quarter—that's an 82% increase compared to the same period last year. Free cash flow jumped to $1.5 billion, up 274% year-over-year, reflecting the company's improved operational performance.

Acknowledging the essential role mined materials play in national security, economic stability and supply chain resilience, yesterday the USGS announced that it was expanding its so-called list of Critical Minerals, adding minerals such as boron, copper, metallurgical coal, phosphate, silver and uranium. The move is a smart one by the administration, but here at the National Mining Association, we believe what is considered critical today might change tomorrow given both the rapid pace of innovation and changing global events.

Emphasizing just how tricky it is to wean ourselves off of our minerals dependence on China, and just how important government support is, MP Materials recorded a wider loss in the third quarter after it stopped selling to China as agreed in its equity deal with the U.S. government.

And China's Ministry of Commerce announced today that it had suspended for a year export controls that it issued last month. The controls lifted include those on the transfer out of China of rare earth processing equipment. The announcement notably, however, did not include any information on the general licenses for the export of critical minerals that the White House were said were part of the recent deal between China and the US.

The suspension of these rules is set to last until Nov. 10 next year.

As perhaps a sign of things to come with overseas producers, The Financial Times reports Vedanta Resources is shifting ownership of its Zambian copper operations into a U.S.‐based subsidiary, CopperTech Metals. A significant driver of the move: an effort to tap U.S. financing and benefit from Trump administration efforts to secure mineral supply chains.

And in Colorado, debate is heating up over the future of two units at the state's largest coal power plants -- Craig Unit 1 and Comanche Unit 2 – set to for retirement. Citing a grid reliability emergency, supporters of the two plants have petitioned the Department of Energy to issue emergency orders to keep the plants running. It's a development worth watching.

And as testament to the remarkable ingenuity and magic of mining, Resolution Copper has reached a major milestone with the completion of its multi-year rehabilitation and deepening of its historic No. 9 Shaft. The refurbished and deepened shaft now extends to a final depth of 6,898 feet underground, nearly five Empire State Buildings tall. It's a significant step in paving the way for production of one nation's most important new sources of copper and critical minerals.

The results are in. Democrats running on affordability and energy politics won big on Election Day across several states. Politico reports yesterday's success all but ensures next year's midterms will have Democrats' message on high electricity prices front and center.

Looking north, Canada's government has released its new federal budget, and mining is in the spotlight. The proposed budget includes a $1.4bn sovereign fund for critical minerals, and widens exploration tax credits to a dozen other minerals. The sovereign fund will make equity investments, provide loan guarantees and enter into offtake agreements for eligible projects and companies.

And today the U.S. Supreme Court will hear oral arguments on the legality of most of President Trump's tariffs. The president has declared emergencies under a 1977 law called the International Emergency Economic Powers Act to impose tariffs on goods from China, Mexico, Canada and dozens of other countries. A coalition of small businesses and states say the president has overstepped his authority. President Trump has called the tariff case "one of the most important … in the history of our country".

The Trump administration says it's assembling a coalition of allies and partners to trade critical minerals and buffer Beijing's control of global supply chains.

"In the last few weeks, the United States has announced a framework for creating a club of nations to be able to trade, refine and process critical minerals," Interior Secretary Doug Burgum said Monday in Abu Dhabi.

And the Trump administration is once again taking direct stakes in critical mineral companies. The Commerce Department will receive a $50 million share of Vulcan Elements and the Pentagon an undisclosed amount of stock in Vulcan and ReElement Technologies as part of a $1.4 billion deal to help the companies produce rare earth magnets entirely in the United States.

And today is election day, with energy and electricity prices front in center on several ballots, including key races in Georgia, Virginia and New Jersey. The results could very well shape next year's midterm messaging. It's a development we'll be watching closely.

I'm Ashley Burke with The National Mining Association. And you're watching NMA TV.

This is a Mining Minute special.

The National Mining Association each year honors outstanding achievements in mine safety with something called the Sentinels of Safety Awards.

The Sentinels of Safety awards began back in 1923 with then Commerce Secretary Herbert Hoover,

who was himself a former mining engineer.

More than 100 years later,

the Award program remains the nation's most prestigious recognition of mine safety

and has helped foster a strong safety commitment on the part of U.S. mines.

Awardees are comprised of

coal and mineral mining operations in 10 categories that have recorded the most hours in a calendar year without a single lost-time injury.

Both small and large mines are recognized.

A minimum of 4,000 hours is required to even be considered for the award.

This year, twenty American mining operations –

six coal mines and 14 mineral/metal mines –

were honored at a ceremony here in Washington for their extraordinary safety performance.

Recipients included five National Mining Association members:

Iron Senergy's Cumberland Mine in Pennsylvania,

Nevada Gold Mines' Cortez District-Underground Mine in Nevada,

Navajo Transitional Energy Company's Antelope Mine in Wyoming,

Nyrstar's Gordonsville Mine in Tennessee, and

Kyanite Mining 's East Ridge Plant in Virginia.

In presenting their awards,

National Mining Association President and CEO Rich Nolan said, quote,

"Every day in mining begins and ends with safety,

and it's top of mind in everything we do—from equipment operation all the way to team meetings.

As mineral, material and power demand all grow to feed materials and power-hungry manufacturing lines and data centers, safe, modern, domestic mines will ensure our supply chains are secure and the power keeps flowing."

End quote

President Trump says, when it comes to China, we've got a deal. After a meeting in South Korea between Presidents Trump and Xi, Trump says China committed to a one‑year agreement to maintain rare‑earth exports to the world, including the U.S. It's unclear if and when previously existing restrictions will be lifted.

This week mining and construction equipment manufacturer Caterpillar's shares soared with the company's engine business a standout performer thanks to a 31% increase in sales of power generators, mostly to AI data-center developers.

And the Trump administration yesterday announced a $1.5 billion loan for the development of a coal-powered fertilizer production plant in Indiana. Wabash Valley Resources is the recipient of the loan for its coal and ammonia facility, which will include the restart of a shuttered coal gasification plant which was idled in 2016. The Department of Energy said the fertilizer produced at the facility will be a "vital" resource for farmers who currently rely on imports.