Here’s a quick recap of some of the most impactful resource sector news items for the week.
The period saw the Trump administration move to reverse a Biden-era ban on copper and nickel mining near Minnesota’s Boundary Waters, while Dundee Precious Metals (TSX:DPM,OTC Pink:DPMLF) penned a deal for assets in Bosnia and Herzegovina and Serbia, and China exerted control over rare earth mines in Myanmar.
Trump admin moves to roll back mining moratorium near Boundary Waters
The Trump administration is starting the process of reversing the Biden-era 20 year moratorium on copper-nickel mining in a 350-square-mile area upstream of Minnesota’s Boundary Waters Canoe Area Wilderness.
The decision could allow the restart of development at the proposed Twin Metals underground mine, owned by Chile’s Antofagasta (LSE:ANTO,OTC Pink:ANFGF). The Biden administration had cancelled the leases for the project, located in the region affected by the moratorium, as part of the 2022 decision.
Agriculture Secretary Brooke Rollins and Interior Secretary Doug Burgum argue that the original mineral withdrawal was unnecessary and pledged to boost domestic critical mineral supply.
Rollins shared the news on her social media account.
.@SecretaryBurgum and I have been working together to unleash American Energy and today we are taking another step to ensure we are getting back in the mining and energy development game.
Today, @USDA is proud to announce that we are initiating the process to cancel the mineral…
— Secretary Brooke Rollins (@SecRollins) June 11, 2025
The news was quickly denounced by the Save the Boundary Waters advocacy group and Tina Smith, US Senator for Minnesota.
“The announcement by Secretaries Burgum and Rollins is shocking,” said Ingrid Lyons, the group’s executive director. “They claim to have consulted with the people of Minnesota about the Boundary Waters when they clearly have not. We deserve so much better than this, as Minnesotans and as Americans.”
Senator Smith took to social media to highlight her dismay and condemn what she described as ‘pseudoscience (used) to justify bad actions.’
The Trump admin decision aligns with a broader push to accelerate mining approvals and reduce red tape, aiming to enhance US supply chain security for critical minerals.
Dundee Precious Metals to acquire Adriatic in US$1.3 billion deal
Canada’s Dundee Precious Metals has agreed to acquire UK-based Adriatic Metals (LSE:ADT1,OTCQX:ADMLF) in an approximately US$1.3 billion cash-and-stock transaction.
The deal secures Dundee full control of Adriatic’s high-grade Vareš underground silver-lead-zinc-gold mine in Bosnia and Herzegovina, plus its Raška zinc-silver project in Serbia.
Vareš offers an estimated 15 year mine life with annual payable output around 168,000 ounces gold equivalent and low all-in sustaining costs of US$893 per ounce.
“Vareš is a logical fit with our portfolio, as it significantly increases DPM’s mine life while adding near-term production growth, a highly prospective land package, and cash flow diversification,” said David Rae, president and CEO of Dundee Precious Metals.
Upon closing, Dundee shareholders will own 75.3 percent of the combined entity, with Adriatic shareholders holding 24.7 percent. The transaction is expected to close by year-end, pending shareholder, regulatory and Bosnian competition approvals.
China tightens grip on Myanmar’s rare earths
The United Wa State Army (UWSA), a China-supported militia, has taken control of newly established rare-earth mining operations in Myanmar’s Shan State, according to a Reuters report. Satellite imagery confirms the construction of leaching pools and chemical extraction facilities, with Chinese-speaking managers overseeing operations and trucks ferrying ore across the border.
As noted in the report, China currently relies heavily on Myanmar for heavy rare-earth elements like terbium and dysprosium, critical materials for high-tech industries including EVs, wind turbines and electronics. The country supplied nearly half of China’s imports during the first four months of 2025.
Rare earth exports to China have surged since Myanmar’s military junta took power in 2021. Between 2021 and 2024, Myanmar exported US$3.6 billion worth of rare earth metals to its neighbor, a dramatic increase compared to just US$400 million in the prior four year period.
The majority of these imports previously came from mineral belts in Kachin State, but this supply was disrupted in October 2024 when the Kachin Independence Army seized control of the region from the junta.
Analysts suggest this move to protect operations in Shan State helps Beijing reinforce its global dominance in rare earth supply chains by tapping into more stable regions under Chinese-aligned militia protection.
China has further tightened its grip on the global rare earth industry over the past year, reinforcing control across multiple fronts. Domestically, Beijing implemented new regulations in late 2024 to centralize mine quotas, smelting, separation and export licensing, reinforcing state dominance across the entire rare earth supply chain.
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
