Rapid Critical Metals (RLL:AU) has announced IR1:IR1 Completes Acquisition to Consolidate Black Hills, US
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Brightstar Resources (BTR:AU) has announced Exceptional result of 32m @ 7gt Au in Lord Byron drilling
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In the high-stakes world of resource extraction, a nation’s mineral wealth is a powerful magnet for investment, fueling economic growth and national prosperity. But not all countries are created equal.
For investors in the mining sector it’s key to understand that jurisdictional risk can be profoundly impacted by political changes, as new administrations can swiftly alter the regulatory landscape. These policy shifts can present both opportunities and setbacks, introducing a complex layer of uncertainty to even the most promising ventures.
At the same time, regions traditionally seen as stable and secure for resource development can face their own challenges, including rigorous permitting regimes that can slow mine development activity.
Read on for three case studies on jurisdictional risk and how to navigate this type of complexity.
Case study: First Quantum’s Cobre Panama mine
Perhaps the most notable example in recent years of how politics can affect operations is the closure of First Quantum Minerals’ (TSX:FM,OTC Pink:FQVLF) Cobre Panama mine in Panama.
As with many mining operations, Cobre Panama took decades to bring into production. First Quantum received approval to begin work at the site in February 1997; however, it would take 22 years and US$10 billion to build the mine and the required infrastructure before production commenced in September 2019.
When it was placed on care and maintenance in November 2023, the mine was one of the largest in the world, accounting for approximately 1 percent of total copper supply.
The closure came after Panama’s government faced intense public backlash for granting First Quantum a 20 year mining contract; it was quickly declared unconstitutional by the Supreme Court.
The Panamanian government also introduced an indefinite moratorium on all mining concessions. The move put the country’s mining sector in a state of limbo and led other companies to cease activities in Panama. For example, Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) decided to halt funding of its Cerro Quema project until it had “greater certainty with respect to the mining concessions, as well as fiscal and legal stability in Panama.”
Cobre Panama’s closure and the subsequent moratorium led Fitch to downgrade its investment outlook for Panama in March 2024, from BBB- to BB+. The credit agency cited fiscal governance challenges that arose following the mine’s closure, noting that Cobre Panama accounted for 5 percent of the nation’s GDP.
Although the International Monetary Fund expects Panama’s GDP to rebound to 4.5 percent in 2025 as non-mining sectors of the nation’s economy grow, the changes have already had a significant impact on the national economy, with GDP growth slowing to 2.9 percent in 2024, from 7.4 percent in 2023.
Case study: Barrick Mining’s Loulo-Gounkoto complex
Another recent example is the impact of unrest on Barrick Mining’s (TSX:ABX,NYSE:B) operations in Mali.
The African nation has experienced a prolonged period of instability, with the government being overthrown in three coup d’états within a 10 year span, in 2012, 2020 and 2021.
The most recent two came following months of turmoil after election irregularities and accusations of corruption in 2020, then calls for a more legitimate government to be installed in 2021.
Ultimately, the government was replaced by a military junta, and in 2022, it was announced that elections would be held in 2024. However, these were delayed until early 2025, at which time they were again postponed.
This past July, Malian military authorities granted current leadership a five year mandate, renewable as many times as necessary without requiring an election, which guarantees control of the government until 2030.
The impact on the mining sector has been notable. In 2022, the new government ordered an audit of the mining sector, which led to Mali adopting a new mining code in 2023 after limited industry consultation.
The code aims to generate more revenue for the government from mining operations by increasing government ownership to 35 percent from 20 percent and removing tax-exempt status for some operations.
Existing mining contracts were also reviewed, which limited the ability to renegotiate, leading to a protracted negotiation process between the Malian government and Barrick over its Loulo-Gounkoto complex.
While Barrick has said its commitment to Mali remains firm, going so far as to make a good-faith payment of US$83 million, the two parties were unable to reach an agreement. The stalled negotiations led the government to arrest or issue arrest warrants for key personnel over unpaid taxes and contract disputes, including Barrick CEO Mark Bristow.
With no resolution, Barrick was ultimately forced to shut down the mine in January of this year. Although arbitration proceedings continue, the operation was placed under provisional administration on June 16, and government helicopters were seen onsite removing more than 1 metric ton of gold on July 10.
According to the Extractive Industry Transparency Initiative, the mining sector makes a significant contribution to the nation’s economy, representing 79 percent of exports and 9.2 percent of GDP. Although other companies haven’t ceased operations in the country, the government’s action has created tensions for investors, with CEOs suggesting that the new rules make it economically unfeasible for new mines or takeovers in the country.
The Fraser Institute gave Mali a policy perception score of 14.94 in its 2024 Annual Survey of Mining Companies, a significant decrease from 2023, when it achieved 33.34, and a precipitous decline from 2020’s score of 78.18. In the overall ranking, Mali fell to 74 out of 82 countries included in the survey, down from 37 out of 77 in 2020.
The institute notes that companies say policy accounts for about 40 percent of their decision when choosing where to establish operations. The other 60 percent is based on the mineral potential. In this regard, Mali improved to 55.26 from 41.18 in 2023; however, it remains in the bottom half of all jurisdictions, ranking 40 out of 58.
The institute uses these scores to determine the overall investment attractiveness of jurisdictions. In 2024, Mali scored 39.13 and ranked 72 out of 82. Respondents to the survey suggested that the rejection of gold mining permits and the lack of transparency created uncertainty and deterred investment.
Even when investment is in the national interest, underlying issues can be hard to overcome.
Case study: The DRC
The Democratic Republic of the Congo (DRC) is endowed with a vast wealth of minerals, ranging from copper to cobalt and diamonds, but a lack of infrastructure and geopolitical instability have hindered investment.
However, the mining sector has seen steady growth in recent years as the government looks to attract investment. One project is the construction of the Lobito Corridor, Africa’s first open-access transcontinental rail link. It connects Zambia and the DRC with the port of Lobito in Angola, providing improved shipping opportunities for producers.
Among the operations that have signed on to use the rail link is Ivanhoe Mines’ (TSX:IVN,OTCQX:IVPAF) Kamoa-Kakula mine. The asset is one of the world’s largest copper mines, producing 964 million pounds in 2024.
In February 2024, the company signed a term sheet to access the corridor, allowing it to transport between 120,000 and 240,000 metric tons of copper concentrates per year for a five year term, commencing in 2025.
In a press release, Robert Friedland, Ivanhoe’s founder and executive co-chair, said the corridor is “fast becoming one of the most important trade routes for vital copper metal in the world.”
He added that the rail link will unlock projects due to the lower logistical costs.
While development in the DRC is moving in the right direction, it’s not without its problems. Tensions remain with neighboring Rwanda, as Rwanda has backed anti-government M23 rebels. The groups have been warring since 2022, with much of the violence occurring in the Eastern DRC, a mineral-rich area of the country.
In April 2024, M23 seized the town of Rubaya, the center of coltan production in the DRC; coltan is a critical mineral for the tech sector. While Ivanhoe’s mine has avoided the violent uprisings elsewhere in the country, it still highlights key security challenges for operations in the country and underscores the fragility of stability.
Like Mali, the DRC declined in the Fraser Institute’s survey last year.
It dropped to 12.97 on policy, down from 24.93 in 2023, ranking 77 out of 82. However, its mineral potential ranked much higher, scoring 73.53 — that’s up from 55 in 2023 and a rank of 14 out of 58.
On overall investment attractiveness, the DRC was middling, scoring 49.31 and ranking 58 out of 82. The report points to issues such as disputes over land tenure ownership, which have led to uncertainty and deterred investment.
Is there any truly safe mining jurisdiction?
The mining community has looked mainly to North America, Europe and Australia to minimize jurisdictional risk.
Canada, the US and Australia are widely considered safe places to invest in due to the stability of their governments and the absence of cross-border conflicts. Despite changes in government, political parties in these nations tend to support extractive industries through tax credits and investment programs.
As a whole, challenges in these jurisdictions tend to be more regulatory than geopolitical in nature, with strict environmental and social regulations adding years to development timelines.
Recently, however, there have been some moves to break down these barries.
The US and Canada have both made promises to streamline the permitting process to decrease timelines for critical minerals. Additionally, under the Biden administration, the US Department of Defense, increased funding for projects deemed critical to national interests, including those involving Canadian companies Fortune Minerals (TSX:FT,OTCQB:FTMDF) and Lomiko Metals (TSXV:LMR,OTC Pink:LMRMF).
The program has continued under US President Donald Trump, with the most recent award being announced on July 22, for US$6.2 million in funding for Guardian Metal Resources (LSE:GMET,OTCQX:GMTLF).
Although challenges in these regions still exist, in general they remain stable. For investors, it can help to de-risk portfolios and avoid the geopolitical tensions and uncertainty that arise elsewhere.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the ‘Company’ or ‘Questcorp’) is pleased to provide an update on the Phase I drilling program at its La Union Gold and Silver project in northwest Sonora, Mexico. Drill holes have now been completed at two of the 4 target areas:
- The initial hole was completed beneath the historic Union Mine itself, intersecting the favourable carbonaceous Clemente and Caborca formations, including the microconglomeratic carbonate unit which hosted mineralization at the bottom of the past producing Union Mine.
- Drilling then shifted focus to the El Cobre Mine area and the Union Norte Mine area, testing vertical feeder zones above the Clemente formation dolomites and carbonaceous sandstones. Hole two intersected more quartzites than interpreted from the geophysics, with the quartzites carrying more extensive hematitic oxides, possibly indicative of oxide gold mineralization potentially related to sulfides which have been oxidized through supergene weathering.
Saf Dhillon, President and Chief Executive Officer, states: ‘The drilling is indicating oxidation is consistent with past mining and targets are coming along with a positive exploration drilling so far. The drilling is intersecting more quartzite than expected which is favorable for fracture-controlled mineralization. The Riverside operations team is progressing the current exploration program working with the surface rancher and the drilling company to efficiently progress a high-quality exploration program.’
Drilling has now moved to the Famosa Target to progress exploration program. The Mexico Mining Ministry has approved many permits and are actively supporting the environmentally, socially conscious mineral exploration practices as a key aspect for the new Mexican government initiatives.
The technical content of this news release has been reviewed and approved by R. Tim Henneberry’, P.Geo (BC) a Director of the Company and a Qualified Person under National Instrument 43-101.
About Questcorp Mining Inc.
Questcorp Mining is engaged in the business of the acquisition and exploration of mineral properties in North America, with the objective of locating and developing economic precious and base metals properties of merit. The company holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 1,168.09 hectares comprising the North Island copper property, on Vancouver Island, B.C., subject to a royalty obligation. The company also holds an option to acquire an undivided 100-per-cent interest in and to mineral claims totalling 2,520.2 hectares comprising the La Union project located in Sonora, Mexico, subject to a royalty obligation.
ON BEHALF OF THE BOARD OF DIRECTORS,
Saf Dhillon
President & CEO
Questcorp Mining Inc.
saf@questcorpmining.ca
Tel. (604-484-3031)
Suite 550, 800 West Pender Street
Vancouver, British Columbia
V6C 2V6.
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding completion of survey work at the North Island Copper project. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265741
News Provided by Newsfile via QuoteMedia
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San Francisco 49ers quarterback Brock Purdy suffered shoulder and toe injuries in Week 1 that could keep him out of the team’s Week 2 game against the New Orleans Saints.
49ers coach Kyle Shanahan broke the news of Purdy’s injuries at a Monday media availability, per NFL Network’s Ian Rapoport. Shanahan specified Purdy’s shoulder injury was to his left, non-throwing shoulder and also provided that malady was worse than the quarterback’s toe problem.
Shanahan outlined that a decision about Purdy’s status for Week 2 would be made at a later date.
It isn’t clear at what point in Sunday’s game Purdy suffered the injuries. He played the entirety of San Francisco’s 17-13 win over the Seattle Seahawks, completing 26 of 35 passes for 277 yards, two touchdowns and two interceptions.
Who is the 49ers backup quarterback?
If Purdy is unable to play against the Saints, the 49ers would turn to backup Mac Jones in his stead.
The 49ers signed Jones, a fifth-year veteran and a first-round pick in the 2021 NFL Draft, as a free agent during the offseason. He has a career record of 20-29 across 49 starts with the New England Patriots and Jacksonville Jaguars and has completed 65.9% of his career passes for 10,590 yards, 54 touchdowns and 44 interceptions.
49ers QB depth chart
The 49ers currently have just two quarterbacks on their 53-man roster and three in their organization. Below is a look at the team’s depth chart:
- Brock Purdy
- Mac Jones
- Adrian Martinez (practice squad)
(This story will be updated as more information becomes available.)
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- Major League Soccer has suspended Inter Miami star Luis Suarez for three matches after he was seen spitting on a Seattle Sounders security staffer after the Leagues Cup final.
- The league’s suspension on Monday, Sept. 8, follows disciplinary action announced Friday by the Leagues Cup tournament, which issued a six-match tournament ban to Suarez.
- MLS also revoked the credentials of a different Sounders staffer for the rest of the year, throughout the postseason.
Major League Soccer has suspended Inter Miami star Luis Suarez for three matches after he was seen spitting on a Seattle Sounders staffer after the Leagues Cup final.
Suarez will serve the suspension during Inter Miami’s next three matches: Sept. 13 at Charlotte FC, Sept. 16 vs. Seattle, and Sept. 20 vs. D.C. United. He is eligible to return when Inter Miami visits New York City FC on Sept. 24.
The league’s suspension on Monday, Sept. 8, follows disciplinary action announced Friday by the Leagues Cup tournament, which issued a six-match tournament ban to Suarez. Essentially, Suarez would miss the entire 2026 Leagues Cup if Inter Miami were to reach the final.
Suarez was seen spitting on Sounders security staffer Gene Ramirez after Seattle beat Inter Miami 3-0 to win the Leagues Cup tournament on Aug. 31.
Suarez, the Uruguayan legend known for his misconduct, issued an apology on social media last week.
“It was a moment of great tension and frustration, where as soon as the game ended, things happened that shouldn’t have happened. But that doesn’t justify the reaction I had. I was wrong and I sincerely regret it,” Suarez said on Instagram.
Lenhart will only be permitted in public seating areas during Sounders home matches. He’s not allowed on or near the pitch or locker rooms. His access will again be reviewed ahead of the 2026 MLS season.
Seattle was also fined for an undisclosed amount for misappropriation of credentials by the league.
Leagues Cup also suspended Lenhart from the Sounders’ next five Leagues Cup matches.
Inter Miami midfielder Sergio Busquets received a two-game Leagues Cup suspension for violent conduct after striking Seattle’s Obed Vargas, while defender Tomás Avilés was suspended for three games for his role in the postgame scene. However, both Inter Miami players did not receive further discipline from MLS.
Seattle is fourth in the MLS Western Conference with 44 points from 12 wins, seven losses and eight draws. Inter Miami ranks sixth in the East with 46 points from 13 wins, five losses and seven draws.
While most MLS clubs have played 29 matches, Inter Miami (25) and Seattle (27) have matches in hand to play that could elevate them in the standings by season’s end.
The final day of the 2025 MLS season is Oct. 18, while the MLS Cup playoffs begin with wild card matches on Oct. 22. The MLS Cup will be Dec. 6.
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The Philadelphia Eagles lost running back Will Shipley to a rib injury in Week 1. They quickly moved to replace him on the trade market.
The Eagles acquired veteran running back Tank Bigsby from the Jacksonville Jaguars, according to multiple reports. Philadelphia will send multiple late-round picks to complete the trade.
Bigsby, 24, was a third-round pick in the 2023 NFL Draft. He recorded career-high marks in carries (168), rushing yards (766) and rushing touchdowns (7) during the 2024 season and was expected to battle Travis Etienne Jr. for Jacksonville’s starting job in 2025.
However, Bigsby was clearly behind Etienne in the Jaguars’ pecking order to open the 2025 season. He handled just five carries and totaled 12 yards while splitting the backup role with rookies Bhayshul Tuten and LeQuint Allen.
That gave the Eagles an opportunity to swoop in and add depth behind Saquon Barkley.
Tank Bigsby trade details
Eagles get:
- RB Tank Bigsby
Jaguars get:
- 2026 fifth-round pick
- 2026 sixth-round pick
Eagles RB depth chart
The addition of Bigsby makes Philadelphia’s running back room four-deep. Below is a look at the projected pecking order within the group:
- Saquon Barkley
- Will Shipley
- Tank Bigsby
- A.J. Dillon
Shipley’s injury could allow Bigsby a chance to quickly earn the No. 2 role behind Barkley on Philadelphia’s depth chart. The third-year veteran’s physicality – he averaged 2.8 yards per carry after contact last season, tied with Derrick Henry for the most in the NFL – should make him a strong partner for Barkley.
(This story will be updated as more information becomes available.)
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- J.J. McCarthy led the Minnesota Vikings to a 27-24 comeback victory over the Chicago Bears in his NFL debut.
- The rookie quarterback struggled for the first three quarters, throwing a pick-six and leading the offense to just six points.
- McCarthy turned his performance around in the fourth quarter, throwing for two touchdowns and running for another.
J.J. McCarthy made his much-anticipated debut as the Minnesota Vikings’ starting quarterback on Monday against the Chicago Bears.
Early on, the 22-year-old’s lackluster performance had many wondering whether the Vikings would have been better off keeping Sam Darnold for another season.
But in the fourth quarter, McCarthy began to show signs of life. He settled in nicely over his final four drives and showed Vikings fans a glimpse of what their future might look like with him as their top quarterback by leading Minnesota to a come-from-behind 27-24 victory.
Here’s what to know about McCarthy’s debut stats, and the major highlights and lowlights from it.
J.J. McCarthy stats today
Below is a full look at McCarthy’s stat line from his debut:
- Completion/attempts (%): 13/20 (65%)
- Passing yards: 143
- Passing TDs: 2
- INTs: 1
- Yards per attempt: 7.2
- Passer rating: 98.5
- Carries: 2
- Rushing yards: 25
- Rushing TDs: 1
Throughout the game’s first three quarters, McCarthy struggled to spark Minnesota’s offense. He led the team to points on just two of its first nine drives while the team racked up a whopping six three-and-outs.
During that time, McCarthy appeared to have trouble finding open receivers despite facing a Bears secondary that was without two of its top cornerbacks, Jaylon Johnson and Kyler Gordon. Justin Jefferson had logged only one catch entering the fourth quarter, and McCarthy appeared unable to get the ball to him.
On one of the rare occasions McCarthy did target Jefferson, he tried to force the ball to him while Bears cornerback Nahshon Wright was sitting in coverage underneath him.
Wright was able to break on the ball and get an easy pick-six, which took away a potential field goal opportunity for the Vikings and extended Chicago’s lead to 17-6.
At that point, it looked like McCarthy’s debut would be of the inauspicious variety.
J.J. McCarthy fourth-quarter stats, highlights
However, in the fourth quarter, McCarthy managed to level up. He started to show poise in the pocket and hit Jefferson on a couple of longer passes, including the first touchdown of the Michigan product’s NFL career.
McCarthy’s touchdown was well-timed, as he managed to get the ball to Jefferson before the throwing window closed.
On the ensuing drive, McCarthy lofted another quality pass to Jefferson, though the veteran was unable to corral it.
All told, McCarthy posted spectacular stats in the fourth quarter. Below is a look at how he fared over the game’s final 15 minutes.
- Completion/attempts (%): 6/8 (75%)
- Passing yards: 87
- Passing TDs: 2
- INTs: 0
- Yards per attempt: 10.9
- Passer rating: 149.5
- Carries: 1
- Rushing yards: 14
- Rushing TDs: 1
While the early portion of McCarthy’s debut left a lot to be desired, Vikings fans will certainly be encouraged by what the 22-year-old accomplished to lead them to a come-from-behind win.
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The former Dallas Cowboys star was locked in a contract dispute since the end of the 2024 season, hoping that an extension would come in the Lone Star State. After a war of words (and podcasts) Dallas relented – trading the All-Pro to the Green Bay Packers a week before the season started.
Parsons received not only a change of scenery, but a nice payday to go along with it, inking a four-year, $186 million extension. Following his debut in the team’s dominating 27-13 victory over the Detroit Lions, Parsons made it clear that he’s happy in Wisconsin – and even happier to put the past behind him.
“These last six months was super draining, super toxic for everyone,’ Parsons told reporters after the game. ‘It’s something that I don’t think no player should have to go through. … The fact that I was traded a week before the season was really outrageous and rough. It’s something where I could’ve been with these guys getting better and better and we could’ve had probably (an) even more dominant start.’
The new Packer played sparingly in his debut, logging 29 of the team’s 65 snaps (45%) on Sunday. Parsons, who has been nursing a back injury, still made his presence felt as he ramps back up to full strength.
He finished with three pressures that resulted in a two-yard loss on a completion, an interception and a sack, according ESPN Research via Rob Demovsky.
Parsons is cognizant of what the Packers gave up for him and plans on doing whatever it takes.
“These guys embraced me,’ Parsons said. ‘They believe in my talents. They believed in me and I’m just gonna give these guys everything I have because I know what’s at stake and I know what they gave up for me to be here and I’mma do what it takes for us to win.”
The Packers are hopeful that acquiring Parsons can catapult them into Super Bowl contention. If Sunday was any indication, they’re off to a good start – and they should only get better when their newest star has his full powers.
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Jindalee Lithium (JLL:AU) has announced JLL Signs Non-Binding LOI to List McDermitt on a US Exchange
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