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Hope Downs 2 is part of a series of replacement projects that underline Rio Tinto’s ongoing commitment to the Pilbara region. Credit: Adwo / Shutterstock

Rio Tinto and Hancock Prospecting have announced plans to invest $1.6bn in the Hope Downs 2 iron ore project in Western Australia’s Pilbara region, with Rio Tinto’s share being $800m.

Having received all necessary government approvals, the project is set to sustain production from the Hope Downs joint venture (JV), in which Rio Tinto and Hancock are equal partners.

The project will mine the Hope Downs 2 and Bedded Hilltop deposits, with two new above-water-table iron ore pits.

These pits are expected to have a combined annual production capacity of 31 million tonnes (mt), with the first ore and associated infrastructure expected to be operational by 2027.

Rio Tinto iron ore chief executive Simon Trott said: “These projects are part of our strategy to continue investing in Australian iron ore and to sustain Pilbara production for decades to come, supporting jobs, local businesses and the state and national economies.”

The Democratic Republic of Congo (DRC), the world’s leading cobalt supplier, has announced a three-month extension to its export ban on the metal, which is a key component in electric vehicle (EV) batteries.

The Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS) confirmed the decision on Saturday 21 June, citing persistent market oversupply.

The ban was initially imposed in February for a four-month period after cobalt prices dropped to a nine-year low of $10 per pound.

ARECOMS stated that the high level of stock still present in the market necessitated the extension of the temporary suspension.

The agency has indicated that before the conclusion of the new three-month period in September, it will make a further announcement on whether to modify, extend, or terminate the suspension.

Congolese authorities are currently evaluating the implementation of quotas for cobalt shipments among mining companies.

Rio Tinto has announced a C$7.6m (£4.12m) investment in an industrial demonstration project to evaluate the integration of ore sorting technology at its Lac Tio mine in Havre-Saint-Pierre in Quebec, Canada.

The project is supported by the Government of Quebec with a contribution of C$2.5m and aims to test a method for sorting ore based on titanium and scandium content.

The technology could enhance the efficiency of separating commercially viable rock from waste, potentially reducing the volume of material transported for processing and lowering associated greenhouse gas emissions and costs.

The initiative is expected to optimise the ore pre-treatment process at the Sorel-Tracy plant, improve resource management and explore previously unprofitable parts of the deposit.

The project will unfold in two phases, with 2025 focusing on engineering and technological validation, and 2026 seeing the integration of automation equipment to produce enriched ore.

China, the world’s largest producer of rare earth minerals, reported a significant 23% increase in exports in May compared with April, despite the implementation of export curbs on certain critical minerals, according to a Reuters report.

This surge brought the total to 5,864 tonnes (t), the highest monthly figure in a year.

The rise in exports comes amidst global manufacturing disruptions due to shortages caused by China’s export restrictions.

In the first five months of 2025, exports of the group of 17 minerals saw a slight increase to 24,827t from 24,266.5t in the previous year, according to customs data.

This marginal growth occurred as China’s coal industry grapples with an oversupply issue, resulting in a 42% year-on-year increase in mine stockpiles and a 25% annual rise in inventories at northern Bohai area ports.

The European Commission (EC) has designated Blue Moon Metals’ Nussir project as a strategic critical raw material project. This development comes under the 2023 EU Critical Raw Materials Act (CRMA), which aims to diversify critical mineral supplies and reduce reliance on China.

The Nussir project, located in northern Norway, is the first in the country to receive such a status. The project will now benefit from enhanced support by the EC, including better access to funding and political backing, which are expected to accelerate its advancement.

Nussir’s selection followed rigorous technical, environmental and social evaluations by independent experts to ensure compliance with the CRMA’s requirements.

Of the 13 global projects added to the EU’s strategic projects list, the Nussir project stands out as the only primary copper initiative.