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1) The US Geological Survey is investing more than $5.8 million to map critical mineral resources in Alaska with the Alaska Division of Geological & Geophysical Surveys. “I’m pleased to announce more investments from the Bipartisan Infrastructure Law to improve mapping of Alaska’s geology and critical mineral resources,” said Department of the Interior’s Assistant Secretary for Water and Science Tanya Trujillo. “From the Yukon-Tanana region in the East to the Kuskokwim River in the West, we are working with the entire state of Alaska to assess domestic resource potential and secure a reliable and sustainable supply of critical minerals. I am especially pleased that these same data will help provide a better understanding of geothermal resources, water resources and natural hazards.” This comes at a time when we need the critical resources, such as copper, nickel and cobalt, for green technologies like batteries and solar panels. The funding comes from a Bipartisan Infrastructure Law investment in the USGS Mineral Resources Program's Earth Mapping Resource Initiative which provides funding each year to understand our nation's geologic framework and understanding. Overall, the act invests $510.7 million to advance our nations mapping of critical minerals. Also important to note is the fact that the huge resource called Pebble Mine, has not been approved to mine critical minerals in Alaska recently.
2) Vale, the Brazilian miner, has received binging offers for a stake in its base metals unit. Vale is interested in selling around 10% of the unit for $2.5 billion as the race for critical minerals has begun. Earlier this year, the Brazilian miner said that it expects to advance in its efforts to sell its sake in the first half of this year. Similar to Teck Resources, the play for Vale is to separate its business into its base metals unit and its other assets.