Investing News Network
- Carley Garner: Gold, Silver, Oil — My Price Calls and Strategies (2026-04-07)
Carley Garner, commodity broker and strategist at DeCarley Trading, shares her outlook for gold and silver, saying that the precious metals may be heading into bear market territory.
She also discusses strategies for oil, grains and the Japanese yen.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
- Top 10 Iron Ore Producing Countries (2026-04-07)
These countries are the world's top producers of iron, a metal that is essential for making steel for construction and infrastructure.
Because of its role in infrastructure, like copper, iron demand and prices are impacted by changes in global economies. Iron ore prices have displayed volatility in the past half decade as the world has dealt with the economic uncertainty from COVID-19, the Russia-Ukraine war, ongoing conflicts in the Middle East and rising trade tensions.
Prices for the base metal reached a record high of over US$220 per metric ton (MT) in May 2021, but that level wouldn't hold for long as lower demand from China alongside rising supply levels caused prices to dropped drastically in late 2021.
While there was some recovery in the intervening years, positive sentiment in the iron ore market evaporated in 2024 as the global economic outlook weakened on higher interest rates, lower demand and challenges in China's property sector. After starting the year at a high of US$144 per metric ton, iron ore prices slid to finish out the year at about US$95.
A cyclical rebound in Chinese steel production in Q1 2025 pushed prices for the metal up to briefly touch US$107 per MT in February. However, in Q2 2025, China's economic woes, a growing surplus in iron mine supply and steel and aluminum tariffs were responsible for pressuring iron ore prices back down below US$95 by late June. In the second half of the year, prices rose back up alongside global markets to again reach US$107.
As for iron ore in 2026, prices fell steeply to start February to just below US$100 but quickly regained ground to end Q1 at US$106.
"Geopolitical tensions have spurred some countries to explore alternative sources of iron ore, raising the profile of new geographic markets,” Fastmarkets reported in its June 2025 iron ore market outlook. “Policy changes in iron ore-consuming regions, driven by trade tensions and domestic priorities, have led to adjustments in global supply chains.”
One new source of iron ore is Guinea, which is likely to enter the top iron countries in the coming years. In December 2025, the massive Simandou mine in Guinea shipped its first iron ore, destined for smelters in China. As it ramps up over the coming years, the mine is expected to produce 15 million to 20 million MT of iron ore in 2026 and 40 million to 50 million MT in 2027.
To better understand the dynamics of the iron ore market, it's helpful to know which countries are major iron producers. With that in mind, these are the top 10 nations for iron ore production by country, using the latest data provided by the US Geological Survey.
1. Australia
Usable iron ore: 980 million metric tons
Iron content: 600 million metric tonsAustralia is the largest iron producing country by far, with usable iron ore production of 980 million metric tons in 2025. Australia’s leading iron ore producer is BHP Group (ASX:BHP,LSE:BHP,NYSE:BHP), and Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Fortescue (ASX:FMG,OTCQX:FSUMF) are also large iron producers.
The Pilbara region is the most notable iron ore jurisdiction in Australia, if not the world. In fact, Rio Tinto calls its Pilbara Blend "the world’s most recognised brand of iron ore."
One of Rio Tinto's iron-producing operations in the Pilbara is the Hope Downs iron ore complex, a 50/50 joint venture with Gina Rinehart's Hancock Prospecting. The complex hosts four open-pit mines with an annual production capacity of 47 million metric tons.
In June 2025, the partners announced a combined investment of US$1.6 billion to develop the Hope Downs 2 iron ore project. It includes the Hope Downs 2 and Bedded Hilltop iron ore deposits, which together will have a total annual production capacity of 31 million metric tons.
As for BHP, the major iron miner's Western Australia Iron Operations joint venture comprise five mining hubs and four processing hubs. One such hub is Area C, which hosts eight open-cut mining areas alone. The company also has an operating 85 percent interest in the Newman iron operations.
2. Brazil
Usable iron ore: 420 million metric tons
Iron content: 260 million metric tonsIn Brazil, iron production totaled 420 million metric tons of usable iron ore in 2025, a record high for the iron-rich country.
The largest iron ore districts in the country are the states of Pará and Minas Gerais, which together account for 98 percent of Brazil’s annual iron ore output. Pará is home to the largest iron ore mine in the world, Vale's (NYSE:VALE) Carajas mine. Headquartered in Rio de Janeiro, Vale is the world's biggest producer of iron ore pellets.
Vale announced plans in February 2025 to make significant investments in increasing its production at Carajas by 13 percent through 2030.
3. India
Usable iron ore: 310 million metric tons
Iron content: 190 million metric tonsIndia’s iron production for 2025 totaled 310 million metric tons of usable iron ore.
India’s largest iron ore miner, NMDC (NSE:NMDC), operates the Bailadila mining complexes in Chhattisgarh state and the Donimalai and Kumaraswamy mines in Karnataka state. NMDC hit a production milestone in 2021 of 40 million metric tons per year, the first such company to do so in the country. NMDC is targeting an annual production rate of 100 million metric tons by 2030.
4. China
Usable iron ore: 290 million metric tons
Iron content: 180 million metric tonsChina's iron production amounted to 290 million metric tons of usable iron ore in 2025. The Asian nation is the world’s largest consumer of iron ore, despite being the fourth largest iron-producing country.
China's top producing iron ore mine is the Dataigou iron mine in Laioning province, with production of 9.07 million metric tons in 2023. The underground mine is owned by Glory Harvest Group Holdings.
With China being the world’s largest producer of stainless steel, its domestic supply is not enough to meet demand. The country imported 1.26 billion MT of iron ore in 2025.
5. Iran
Usable iron ore: 93 million metric tons
Iron content: 61 million metric tonsIran surpassed 93 million metric tons in iron production in the form of usable iron ore in 2025. The country's iron output has been on the rise in recent years — now in fifth place, it was the sixth highest iron producer in 2024, the eighth highest in 2022 and the 10th in 2021.
One of Iran's most important iron ore mines is Gol-e-Gohar in Kerman province, which is also the country's top producer. During the March 2024 to January 2025 period, the country's major mining companies' combined iron pellet production reportedly increased by 7 percent year-over-year.
The country's iron mines are supplying its steel industry, which produced 32 million MT of steel in 2025.
In its 20 year roadmap released in 2005, the Iranian government had set an annual steel production target of 55 million MT by 2025. To better meet the requirements of domestic steel producers, Iran began levying a 25 percent duty on iron ore exports in September 2019. The exact rate has changed multiple times since, and in February 2024 the country cut duties on these products significantly.
6. Russia
Usable iron ore: 86 million metric tons
Iron content: 50 million metric tonsRussia's iron ore production came in at 86 million metric tons in 2025, making it the sixth largest iron-producing country in the world.
The region of Belgorod Oblast is home to two of the country's biggest iron ore producing mines: Metalloinvest's Lebedinsky GOK and Novolipetsk Steel's Stoilensky GOK. According to GlobalData, the mines produced an estimated 22.05 million MT and 19.56 million MT of iron ore in 2023 respectively.
Russia’s iron ore exports have fallen dramatically in recent years following its 2022 invasion of Ukraine, which led to serious economic sanctions on the country, including the European Union restricting imports of Russian iron ore. Its iron ore exports were valued at just US$1 billion in 2024 compared to US$3.84 billion in 2021 as its previous trade partners fell away, leaving China as the destination for the vast majority of its iron.
7. Canada
Usable iron ore: 69 million metric tons
Iron content: 41 million metric tonsCanada’s iron production totaled 69 million metric tons of usable iron ore in 2025. In June 2024, the Canadian government updated the nation's Critical Minerals List to include high-purity iron due to its role in green steel-making and decarbonization.
Champion Iron (TSX:CIA) is one company producing iron ore in Canada. It owns and operates the Bloom Lake complex in Fermont, Québec. Bloom Lake's annual capacity is currently 15 million metric tons of 66.2 percent iron ore concentrate. Champion is investing in upgrading half of its Bloom Lake mine capacity to a direct reduction quality pellet feed iron ore with up to 69 percent iron.
8. South Africa
Usable iron ore: 66 million metric tons
Iron content: 42 million metric tonsSouth Africa’s iron production was 66 million metric tons of usable iron ore in 2025. The country's output has declined significantly in the past few years, down from 73.1 million MT four years earlier. South Africa's mining industry is grappling with transport and logistics issues, most notably due to railway maintenance challenges.
Kumba Iron Ore is Africa’s largest iron ore producer. The company has three main iron ore production assets in the country, including its flagship mine, Sishen, which accounts for a large majority of Kumba’s total iron ore output. Anglo American (LSE:AAL,OTC Pink:AAUKF) owns a 69.7 percent share of the company.
9. Ukraine
Usable iron ore: 52 million metric tons
Iron content: 32 million metric tonsUkraine's iron production for 2025 was 52 million metric tons of usable iron ore. The metal represents a key segment of the country's economy, and Metinvest and ArcelorMittal (NYSE:MT) are the leading producers of iron ore in the nation.
Despite the ongoing war with Russia, Ukraine's iron ore mining industry has proved as resilient as the people, even though there have been temporary shutdowns. While 2025 was a difficult year, with iron ore exports decreasing by 8 percent to 30.99 million MT, this beat GMK Center's May 2025 prediction that "Ukraine’s iron ore exports will decline by about 20% y/y to 27 million tons (in 2025) from 33.6 million tons in 2024."
10. United States
Usable iron ore: 38 million metric tons
Iron content: 24 million metric tonsThe United States' iron production came in at 38 million metric tons of usable iron ore in 2025, landing the nation just inside this top 10 iron countries list. The majority of the US' iron is produced in Minnesota and Michigan.
The US' iron ore production decreased in 2025 from 45.1 million MT the year before as multiple mines in Minnesota were idled, according to the USGS.
Mesabi Metallics is currently constructing its direct-reduction grade iron ore mine and pellet plant in Nashwauk, Minnesota, which is on track to begin production in Q3 2026.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
- American Uranium: Targeting Resource Growth and Confidence Increase at Lo Herma Project (2026-04-07)
American Uranium (ASX:AMU,OTCQB:AMUIF) is advancing its flagship Lo Herma in-situ recovery (ISR) uranium project in Wyoming, with current work focused on increasing scale and improving resource confidence ahead of a planned scoping study.
Recent drilling has grown the total resource to 9.45 million pounds, with 43 percent now in the indicated category. Within the areas being prioritised for the scoping study, the company has outlined approximately 7 million pounds, with indicated resources increasing to 46 percent.
“That’s a pretty good outcome given we’re only halfway through the planned drilling program,” CEO Bruce Lane told the Investing News Network.
Lo Herma is also becoming more comparable to advanced ISR projects in the region, all located within close proximity. Lane mentioned Ur-Energy’s (TSX:URE,NYSEAMERICAN:URG) Shirley Basin project, currently in commissioning at 8.8 million pounds. Also included are Uranium Energy’s (NYSEAMERICAN:UEC) Ludeman project at 11 million pounds, and enCore Energy’s (TSXV:EU,NASDAQ:EU) Gas Hills project at roughly 8 million pounds.
From a valuation standpoint, American Uranium sees room for upside as the project advances. “We think there’s an opportunity for our valuation to move upwards and meet the intrinsic value of the project that we have," said Lane.
On the macro front, US uranium demand currently sits at approximately 50 million pounds annually, while domestic production remains significantly lower. With global supply also trailing demand, a widening supply gap is expected. American Uranium is targeting potential production in the 2029 to 2030 timeframe, aligning with forecasts for tightening market conditions.
Upcoming catalysts at Lo Herma include the next phase of drilling, additional technical studies and a resource update alongside a scoping study expected in Q3.
Watch the full interview with American Uranium Executive Director Bruce Lane above.
- Antimony: Lesser Known, Yet Highly Critical (2026-04-07)
Despite its designation as a critical mineral in the US, Canada, Australia and the EU, antimony remains overlooked.
Although it may seem less popular than its hyped-up counterparts like rare earths and lithium, antimony’s industrial and strategic importance cannot be ignored. Antimony has for decades been crucial to countless sectors, and its military applications made US-produced antimony crucial to the Second World War.
Now, as the world moves towards a future defined by clean energy, decarbonization and heightened geopolitical tensions, antimony is arguably more important than ever — positioning it as both a strategic resource and a compelling addition to any investment portfolio.
Antimony: An overview
A silvery-blue metalloid element, antimony is primarily found in the mineral ore known as stibnite — a steel-gray sulfide that largely forms in hydrothermal deposits alongside gneiss, limestone and granite.
In addition to stibnite, the element also occurs in over a hundred different minerals, including kermesite, argentiferous tetrahedrite, jamesonite and livingstonite. Although it is brittle and flaky, antimony is regarded for its strengthening and hardening capabilities as an alloying agent.
Antimony has a history that spans millennia. There are historical records of multiple civilizations using the element in both its metallic and sulfide form for everything from pottery to medical remedies and makeup.
Records from the 15th century also indicate that antimony was used in various alchemical practises, as well as in alloys for products such as mirrors and bells.
Yet for all its applications, antimony was not generally regarded as a critical strategic resource until sometime around the 1900s. That is when the element began being used in a range of different military applications, owing to its role in the creation of tungsten steel and as a hardening agent for lead. Today, antimony is used in precision optics, night-vision goggles, armor-piercing rounds, explosives, hardened lead, ammunition primers, infrared sensors, military clothing, communications equipment and even nuclear weaponry.
As of writing, China maintains a stranglehold on global antimony supply, controlling about 90 percent of global antimony production along with Russia and Tajikistan — despite a steadily declining share of global production.
Antimony's role in electrification
In addition to its military applications, antimony is also required to manufacture semiconductors, electric switches, fluorescent lighting, high-quality clear glass and lithium-ion batteries.
Without antimony, the majority of modern technology would be impossible to produce.
This applies equally to cleantech and renewable energy. Antimony is a key element in the production of solar panels and wind turbines. Moreover, the mineral is integral to the development and production of liquid metal batteries, which look to be a reliable, safe alternative for battery power storage.
A study by the US International Trade Commission found that expanded uses for antimony contribute to its inclusion as a critical material, particularly with respect to battery technology.
“Antimony has become increasingly prevalent in electrical and energy related technologies. Over the past decade, antimony appeared in over a thousand U.S. electrical applications patents. Liquid metal batteries, an emerging battery technology, incorporates antimony in the cathodic material," it states.
Shoring up supplies
Unfortunately, antimony mining remains exclusive to certain countries. According to the US Geological Survey, China remains the largest antimony producer, accounting for over 36 percent of global antimony production in 2025, followed by Russia at roughly 29 percent. And as China imposes new restrictions on antimony exports, countries around the world are increasingly motivated to look for and develop more stable and secure sources for this critical mineral.
Recognizing the emerging demand for antimony and its crucial role in the modern world, exploration companies are increasingly looking at antimony projects that can potentially yield considerable value.
NevGold (TSXV:NAU,OTCQX:NAUFF) is one such company. In 2021, the company acquired 100 percent interest in the Limousine Butte project in Nevada. The property covers around 68 square kilometers of the southern Cherry Creek Range.
Hosting near-surface oxide mineralization, including antimony-bearing zones identified on historical heap leach pads, the project presents a potential near-term production opportunity.
NevGold is advancing the project with ongoing technical studies and exploration to deliver a Mineral Resource Estimate by the second quarter of 2026 to quantify the amount of contained antimony at the project.
CEO Brandon Bonifacio noted the project represents one of the only at-surface antimony opportunities in the US with potential to reach metal production by 2027. High-grade oxide antimony-gold has been intercepted at the project, with 11.42 grams per ton gold equivalent over 7.7 meters.
The Stibnite project in Idaho, owned by Perpetua Resources (TSX:PPTA,NASDAQ:PPTA), is the only other potential near-term producing US antimony mine, which is tracking to production by 2029 to 2030.
The historic Stibnite Mining District played a critical role following the outbreak of World War II, when US antimony supply was cut off by Japan. At the time, the operation supplied roughly 90 percent of the country’s antimony needs and contributed an estimated 40 percent of its tungsten production for steel hardening. Mining activities at the site continued intermittently in the decades that followed before ultimately ceasing in 1997.
Other players include the Hillgrove antimony-gold project in New South Wales by Larvotto Resources (ASX:LRV,OTCPL:LRVTF) and the Costerfield mine in Victoria by Alkane Resources (ASX:ALK,TSX:ALK,OTCQX:ALKEF).
United States Antimony (NYSE:UAMY) has recently secured approval to uplist its common shares from the NYSE American to the New York Stock Exchange, marking a pivotal milestone in its growth journey. This transition comes at a time of rising investor focus on critical minerals and domestic supply chains, particularly antimony. Backed by US government initiatives to bolster critical mineral production, the NYSE uplisting is expected to further accelerate United States Antimony’s operational scale and reinforce its role in securing domestic supply.
Takeaway
Although antimony may not receive as much coverage as other more popular critical minerals, it's no less important. Already essential to multiple applications within the technology and military sectors, antimony has only grown progressively more important with the transition to a cleaner, more sustainable future.
Mining companies around the world are working to meet the ever-increasing demand for the mineral — and each of these companies represents a new investment opportunity.
This INNspired article is sponsored by NevGold (TSXV:NAU,OTCQX:NAUFF,FWB:5E50). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by NevGold in order to help investors learn more about the company. NevGold is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with NevGold and seek advice from a qualified investment advisor.
- Queensland Gives Prescribed Status to Sugarbag Hill Quartz Sand Project (2026-04-07)
Queensland's Crisafulli government said on April 1 that UltraHPQ's Sugarbag Hill ultra-purity quartz sand project has been declared a prescribed project, a move that will speed up development.
Sugarbag Hill currently has a JORC-compliant measured and indicated resource of approximately 1.2 million tonnes and a projected mine life of 12.4 years. The deposit is open along strike.
UltraHPQ plans to build a manufacturing facility at the Lansdown Eco-Industrial Precinct in Townsville.
“This project will help strengthen Queensland’s critical minerals capability, inject hundreds of millions of dollars’ worth of investment and create hundreds of jobs in North and Far North Queensland,” said Deputy Premier Jarrod Bleijie.
Quartz is recognized as a critical mineral in Australia, and is used in the creation of advanced manufacturing equipment such as semiconductors and specialised glass.
Dale Last, minister for natural resources and mines, manufacturing and regional and rural development, and member for Burdekin, said this declaration underscores the Crisafulli government’s commitment to backing resource projects that grow regional economies and create jobs for people in Queensland.
Sugarbag Hill is expected to create 600 construction jobs and 140 ongoing jobs in the state.
"We welcome the Queensland Government’s support, which reinforces the strategic importance of our project to the State’s Critical Minerals Strategy," said UltraHPQ CEO Stuart Jones.
"This declaration allows us to progress project approvals more efficiently and with greater certainty as we move through the Detailed Feasibility Study and Engineering stage," he added.
A final investment decision for Sugarbag Hill is expected in early 2027, while construction is targeted for 2028.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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