Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining and energy investing news. Where we come together and… you know, it's Friday! 🍻

Here are the highlights:

😉 Portugal Greenlights Lithium Mine

👎 Antofagasta Loses In The US

🧐 Visual Of The Day

😉 Portugal Greenlights Lithium Mine

Portugal's environment agency APA has approved Lusorecursos to mine battery-grade lithium in Montalegre, potentially making it Portugal's first such operation. Set to begin production by end-2027, the project has an investment of €650 million ($696 million). This places it in competition with London's Savannah Resources, which also received clearance for its Barroso open-pit mine.

Portugal, with over 60,000 tonnes of lithium reserves, is pivotal to Europe's battery strategy. Nonetheless, environmental concerns have delayed numerous projects. Lusorecursos, awarded a concession in 2019, received APA's nod despite public disapproval, emphasizing lithium's strategic importance.

The mine will include a nearby ore refinery, and production is set to commence in late 2027.

Critical raw materials in Europe is the NEXT BIG THING. Right it down.

👎 Antofagasta Loses In The US

A US judge dismissed Twin Metals’ 2022 lawsuit to reinstate canceled mineral leases for a proposed $1.7 billion Minnesota mine, a project of Chilean firm Antofagasta Plc.

The Biden administration had previously blocked the mine, which would have been a significant US source for metals vital for EV batteries, over pollution concerns for the Boundary Waters Canoe Area Wilderness. Judge Christopher Cooper stated his court didn't have jurisdiction, suggesting the lawsuit should've been under the Tucker Act.

Twin Metals argued that their mine was environmentally sound and that canceling the lease was arbitrary. The leases, initiated in 1966, have seen multiple approvals and rejections by different administrations, with no actual mining conducted on the site.

1966. Seriously. How can anything move forward in that kind of red tape hell?

📰 In Other News:

• This new gold junior is goblin up land in Colombia like crazy. They’re a sponsor of TNBR, so we’re not afraid to say it: don’t come back to us later and say we didn’t want you. A bucket full of news coming in the next 6 months. Check them out:

🧐 Visual Of The Day

Happy Speculating!

The Editor

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.