Originally posted on www.northernminer.com
Table of Contents
Executive Summary
U.S. Critical‑Mineral Strategy Moves to Military Bases
Cobalt Export Ban in the DRC Ignites a 20 %+ Price Spike
A Possible U.S.–DRC Mineral‑for‑Security Pact
Tariff Turbulence: Aluminum, Copper, Steel and Zinc Trade Flows
Antimony Shortage Looms for Western Munitions Makers
The Fort Knox Gold‑Audit Debate and Central‑Bank Buying Trends
Current Precious‑ and Base‑Metal Price Picture
1. Executive Summary
The Northern Miner Podcast (Mar 10 2025) delivers a packed update on the global critical‑minerals landscape. Highlights include the Biden‑era decision to place rare‑earth and other refining plants on Pentagon land, a Democratic Republic of Congo (DRC) cobalt export ban that sent prices surging, fresh U.S. tariffs poised to reorder trade in aluminum, copper and steel, and renewed chatter about a Fort Knox gold audit. Below is an SEO‑focused breakdown of every major storyline affecting miners, manufacturers and investors.
2. U.S. Critical‑Mineral Strategy Moves to Military Bases
Policy shift – An exclusive Reuters report says Washington wants rare‑earth and battery‑metal refineries built on Pentagon property to dodge permitting delays and underscore national‑security urgency.
Critical‑Minerals Czar – The executive order under discussion would also name a White‑House‑level coordinator.
Industry impact – Locating plants on federal bases could fast‑track projects but may sideline domestic miners who hoped permitting reform would come first.
3. Cobalt Export Ban in the DRC Ignites a 20 %+ Price Spike
Four‑month ban – Kinshasa halted cobalt exports to curb oversupply blamed on Chinese producer CMOC.
Price reaction – China’s Wuxi cobalt contract jumped ~12 % intraday; European metal rose from US$9.95 / lb (Feb 24) to US$12.25 / lb (Mar 7).
Force majeure – Eurasian Resources Group declared it on scheduled deliveries, tightening spot availability.
Optics problem for China – Beijing is simultaneously stockpiling cobalt while DRC complains Chinese miners flooded the market at “rock‑bottom” prices.
4. A Possible U.S.–DRC Mineral‑for‑Security Pact
Financial Times scoop – Exploratory talks would trade U.S. military aid for secure supplies of cobalt, copper, tin and tantalum.
Geopolitical backdrop – The DRC faces M23 rebels allegedly backed by Rwanda; China dominates local processing capacity.
Strategic angle – A deal could diversify U.S. supply chains and reduce Beijing’s leverage over battery metals.
5. Tariff Turbulence: Aluminum, Copper, Steel and Zinc Trade Flows
Aluminum & copper – Proposed 25 % U.S. tariffs lifted CME copper ~5 % above LME; Midwest aluminum premiums hit record highs, forcing Canadian miner Teck to eye Asian buyers.
Steel lobbying – CEOs of Nucor, U.S. Steel and Cleveland‑Cliffs urged the White House not to grant exemptions, citing national security.
Peruvian diplomacy – Lima will send a delegation to preserve access to the U.S. copper market.
Global arbitrage – Traders rush to redirect metal before tariff deadlines, reshaping logistics and warehouse demand.
6. Antimony Shortage Looms for Western Munitions Makers
Export restrictions – China barred antimony shipments in late 2024; Russia and Tajikistan control most other output.
Price impact – Spot antimony is nearly 300 % higher YoY, threatening defense‑industry supply as the West replenishes ammunition sent to Ukraine.
New capacity – Larvotto Resources plans an Australian mine for 2026, but volumes will be modest.
7. The Fort Knox Gold‑Audit Debate and Central‑Bank Buying Trends
Audit reality vs. rumor – Podcaster Jeffrey Christian notes Fort Knox undergoes yearly KPMG audits and a full bar‑by‑bar verification was completed in the 2010s, countering viral claims by politicians and influencers.
Central‑bank flows – Poland bought 2.9 Moz of gold in 2024, moving metal to New York for security reasons; Russia alternated between buying and selling to fund wartime budgets.
8. Current Precious‑ and Base‑Metal Price Picture
Metal Price (Mar 10 2025) Weekly Δ Trend Driver Gold $2,913 / oz –$1 Fed rate outlook, central‑bank demand Silver $32.70 / oz +3 % Investment inflows, solar demand Copper $4.62 / lb +1 % Tariff fears, low warehouse stocks Cobalt $11.90 / lb +15 % DRC export ban Aluminum $1.22 / lb +3 % Tariff speculation
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