Greetings Contrarian,

This is The Next Big Rush, your daily drop of mining/energy investing news. Where we come together and wipe each other's tears. 💧

Here are the highlights:

🙄 Newmont Mine Halted

✍ Namibia Bans Exports

🤔 Chile Says No To Lundins

🙄 Newmont Mine Halted

The Almighty Newmont Corporation (NYSE: NEM) has temporarily halted operations at its Peñasquito mine in Mexico due to a labor strike demanding a doubling in the profit-sharing benefit from 10% to 20%. 

The company had previously agreed to a profit-sharing bonus up to 10% in 2021.

The mine produced 686,000 ounces of gold in 2021.

Newmont has expressed its willingness to negotiate to resolve the dispute, but as we will confirm, demanding a 100% rise usually does not make you employee of the month.

The stock is strangely non-volatile given the severity of this news, barely moving down a few percent.

✍ Namibia Bans Exports

Namibia, a country which has just been in the resource news for all the wrong reasons, has prohibited the export of unprocessed lithium and other critical minerals to leverage the increasing global demand for metals used in clean energy technologies. 

The ban covers unprocessed lithium ore, cobalt, manganese, graphite, and rare earth minerals.

Exemptions will be granted only in small quantities with the mines minister's approval.

Namibia, a leading producer of uranium and gem-quality diamonds, aims to capitalize on its battery metals as the global transition to renewable energy accelerates.

Several Australian companies, including Prospect Resources and Arcadia Minerals, have critical minerals projects in Namibia.

Countries all around the world are prioritizing any and every resource involved in the clean energy revolution.

Are you finally taking notice?

🤔 Chile Says No To Lundins

An environmental court in Chile has issued a temporary work stoppage order against Canadian miner Lundin Mining (TSX: LUN), preventing the reopening of its Alcaparrosa copper mine due to environmental concerns. 

The mine had been closed nearly a year ago after a 36-meter-wide sinkhole appeared in a nearby village.

The stoppage could continue until a lawsuit filed by a government agency accusing Lundin of environmental damage is resolved.

The company, which had planned to gradually restart the mine, argues that the lawsuit could harm its business and is considering an appeal.

The court's decision also considered potential impacts on a local aquifer, noncompliance with environmental permits, and worker safety.

Everything that can go wrong in mining, will go wrong.

🏅 Ranking 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.