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1) Excelsior Mining, a small exploration and mining company with a project in Arizona, announced that it has entered into a Collaboration Agreement with Nuton LLC to evaluate a new technology. Nuton LLC is a Rio Tinto venture that uses a copper heap leach technology targeting primary sulfide minerals, which otherwise could not be processed using traditional processing techniques. Excelsior will be evaluating the technology at its Johnson Camp mine in Cochise County Arizona, located about 65 miles southeast of Tucson. The first stage of the project involves getting materials collected from the Johnson Camp and seeing if suitable conditions are present for the technology to work. If the test is successful, the 2 parties would negotiate commercial terms on developing a full-scale deployment of the technology.
Source: Excelsior Mining Announces Collaboration with Nuton, a Rio Tinto Venture - Junior Mining Network
2) In more news from the Kingdom of Saudi Arabia, the country launched a mining fund that it plans to invest up to $15 billion in overseas assets as the country looks to accomplish its Vision 2030. The fund is split 51/49 with Ma'aden and the Public Investment Fund, with the state-owned Ma'aden owning the majority. We have already talked about the deals Saudi Arabia made with Ivanhoe Electric, Barrick Gold and the British government, but it seems like it is just getting started. The companies the investments will provide "critical minerals to ensure supply security for domestic minerals downstream sectors and [position] Saudi Arabia as a key partner in global supply-chain resilience." The strategy of these kind of investments is similar to that of Japan's, as Japan has very few mines in the country, so investments and promised supply of raw materials is necessary in the country's manufacturing sector. Although investments and agreements are an easy and quick way to diversify the Saudi economy, mining the minerals domestically is a guaranteed way to maintain a supply of the minerals and writing your own destiny, so you are not reliant on other countries. Being reliant on other countries can be used as a bargaining tool and as a weapon.