Australia dominated critical-minerals policy activity on Monday and Tuesday, with Resources Minister Madeleine King unveiling a revamped Critical Minerals Strategy that shifts emphasis toward domestic processing and refining, supported by a new Critical Minerals Strategic Reserve, an expanded government-backed loan facility, and a Critical Minerals Production Tax Incentive; the updated strategy runs to 2030 across six focus areas including accelerating strategically important projects, attracting investment, and growing a skilled workforce. Concurrent with the strategy launch, Austrade released its largest-ever investment prospectus at 94 projects — including 29 new additions, nine of them midstream — with Victory Metals' North Stanmore rare earths project among those featured for international investor engagement. Separately, the federal government conditionally approved A$180 million in combined Export Finance Australia and National Reconstruction Fund support for Astron Corporation's Donald Mineral Sands Project in Victoria, which will yield 200 construction and 100 operational jobs, alongside a US$41.4 million tantalum loan to Global Advanced Metals; total support under the US-Australia critical minerals framework has now surpassed A$6 billion since its October 2025 signing.

At the International Mining and Resources Conference (IMARC) in Sydney, New South Wales released an Australian-first Critical Minerals Skills Plan targeting geoscience, minerals processing, engineering and trades roles, with Premier Chris Minns noting that maiden drilling at Gillham, finishing nine diamond drill holes totalling 906 metres across the Davis, Stewart and May prospects at its Arkansas antimony-silver project — the first known modern subsurface test of the system — with multi-element assay results expected in late November 2026. ASX-listed QEM Limited has launched a Big It tungsten exploration programme as part of its US critical minerals expansion strategy. Korea's Tungco CEO indicated that a domestic tungsten mine could assist the United States in reducing its reliance on China for the critical mineral used in semiconductors and defence systems. Deep Sea Minerals filed a preliminary prospectus supplement for a proposed US ADS listing, with proceeds earmarked for advancing applications for subsea mineral rights in the Clarion-Clipperton Fracture Zone and Cook Islands Exclusive Economic Zones.

In geopolitics, Erik Prince's firm Vectus Global has secured a role in Congo amid the global race for critical minerals and ongoing fragility in the country's peace arrangements. India's Commerce Minister held talks in The Hague in which the two sides explored bilateral cooperation on critical minerals, semiconductors, green hydrogen and advanced manufacturing, with discussions also covering the India-EU Free Trade Agreement as a vehicle for building resilient supply chains. India's Recyclekaro CEO outlined how the government's INR 1,500 crore recycling scheme could recover approximately 40,000 tonnes of critical minerals annually, while cautioning that the economics of secondary supply depend on integrating recovered lithium, nickel, cobalt and rare earths into domestic manufacturing supply chains rather than treating recycling as a standalone waste industry.

United Steelworkers Local 7619 launched a walkout at Highland Valley on Saturday, reducing output at Canada's largest copper mine, where all 944 participating members voted in favour of the action; the dispute centers on wages, pensions and staffing, and the production impact will depend on the strike's duration, with Highland Valley having contributed 127,100 tonnes — roughly 28% of Teck Resources' total 2025 output — before the stoppage began. Codelco and BHP formalized a $40 million Anillo exploration deal during London Metal Exchange Week on October 21, committing BHP to reconnaissance campaigns, geophysical surveys, geological studies and drilling across the Antofagasta region of northern Chile; the project remains at an early stage, with the next phase focused on determining whether the ground warrants advanced exploration and eventual mine development.

Colombia's October 9 strategic mineral tender round produced a competitive result when OP Gold Capital outbid Freeport-McMoRan for the Cesar block, raising its additional state payment offer to 2.5% after Freeport countered at 2%, with OP Gold also securing Block 3; Zijin Mining, through its South American subsidiary, won two Buriticá blocks unopposed in Antioquia without attracting counteroffers; and Copper Giant Resources' Libero Cobre subsidiary secured the Chaparral block in Tolima, paying no acquisition fee and committing to an exploration program with economic and social contributions payable on future production. Additional awards from the same ceremony went to Carbones San Cayetano in La Guajira and to Mineros Aluvial in Antioquia, while a separate phosphates tender allocated a block in Huila.

On Vancouver Island, Coast Copper outlined a 270–540 Mt exploration target range at the Northwest Target Zone of its wholly owned Copper Kettle project, with grades spanning 0.32%–0.37% copper equivalent and mineralization remaining open laterally and at depth; the company plans an IP geophysical survey ahead of potential modern diamond drilling that would also assay for gold, silver and rhenium not captured in historical work. In the provincial policy arena, British Columbia's newly elected Conservative majority is signalling legislated permit timelines and expanded tax credits that could benefit large critical mineral projects, while the prospective repeal of the Declaration on the Rights of Indigenous Peoples Act and section 8.1 of the Interpretation Act risks transferring consultation uncertainty into the courts; the Supreme Court of Canada is separately preparing to hear B.C.'s appeal on the consistency of the mineral claims registration system with UNDRIP, leaving Indigenous title and consultation exposure as key variables for mine planners and exploration budgets across the province's 20 proposed critical mineral projects.

Electra Battery Materials (TSX-V / NASDAQ: ELBM) continues to advance its North American cobalt sulfate refinery, with the company updating refinery construction progress and a separate detailed assessment confirming that the Ontario facility remains on time and on budget, targeting mechanical completion by mid-2027 and commercial production from Q4 2027. The company holds 100% ownership of the complex, which could supply up to 6,500 tonnes per year of battery-grade cobalt sulfate — the entirety of projected North American demand — and has recently signed a non-binding term sheet with WMC Group for a five-year feedstock financing partnership covering logistics, marketing, and working capital. Preliminary engineering for a Phase 1 nickel refinery in the United States, targeting roughly 20,000 tonnes per year of contained nickel at an estimated capital cost of US$530–$675 million, is also underway, with a Phase 2 black mass recycling expansion envisioned to yield cobalt, lithium, and graphite byproducts.

On price assessment methodology, Benchmark Mineral Intelligence has opened a formal public consultation on revisions to its cobalt hydroxide CIF Asia price assessment. The proposed changes would raise the minimum cobalt content threshold from 20% to 30%, tighten impurity limits for manganese, magnesium, copper, and iron, and introduce new maximum levels for sulfur, zinc, calcium, nickel, aluminum, cadmium, and natural radioactivity. The revision would also designate representative producers including KFM, TFM, KCC, Mumi, ERG Metakol, Deziwa, Kimin, and Somika; market participants may submit feedback until 27 November 2026.

In materials science, a published review has identified iron-rich, cobalt-free alloy compositions as a viable lower-cost alternative for structural high- and medium-entropy alloys, citing cobalt's price as a primary barrier to industrial adoption and proposing CALPHAD modelling and machine-learning screening as accelerants for candidate identification.

Researchers at the Korea Institute of Energy Research have developed a nickel-cobalt heterostructure electrode for alkaline water electrolysis that matches platinum performance at an overpotential of 22.7 mV; the electrode's nickel oxide and nickel-cobalt alloy phases separately catalyse water dissociation and hydrogen recombination, and the team reports a 99% electrode material cost reduction relative to platinum-group-metal electrodes, a saving that reflects raw metal prices rather than total green hydrogen production cost.

At a policy level, African governments are drafting frameworks to manage end-of-life solar panels, batteries, and inverters as the continent moves toward a projected record 17 GW of new solar installations in 2026; officials note that materials including cobalt, lithium, copper, nickel, and aluminium can be recovered through recycling, and the IEA estimates that such recovery could reduce new mining needs by 40% for copper and cobalt and by 25% for lithium and nickel by 2050.

Zhejiang Huayou Cobalt has consolidated its position at Ghana's Ewoyaa Lithium Project following a transaction by Lithium Americas Corp.'s VP of Human Resources dated 24 October. The October 2026 junior lithium miner roundup notes falling spot prices alongside demand projections that point to a tripling of lithium consumption by 2050.

Nigeria's Economic and Financial Crimes Commission arrested 14 Chinese nationals and one Nigerian at four suspected illegal lithium processing plants in the Ogere area of Ogun State on 23 October 2026, recovering bags of lithium rocks, 18 mobile devices, four laptops and a trailer truck, with all suspects to be charged upon conclusion of investigations; commentary on the arrests raised broader questions about resource sovereignty and reciprocity, noting a prior EFCC operation in the same area in May 2025 and a Federal High Court forfeiture order in May 2026 linked to an earlier Ogun State mining investigation.

On the technology and regulatory front, Greater Bay Technology began series production of solid-state cells on 1 GWh of converted lithium-ion capacity at its Nansha plant, with cells certified under China's new GB/T 48093.1-2026 solid-state standard and GB 38031-2025 safety standard, supporting specific energy of 260–480 Wh/kg across generations; the company signed cooperation agreements with Hubei Liming Lithium Technology and Shenzhen's eVTOL innovation centre and works with European electric light commercial vehicle developer FLYNT. Botree Recycling Technologies outlined its growth outlook ahead of the World Reuse & Recycling Forum in Shanghai, highlighting its 40,000-tonne Huaibei facility capable of processing end-of-life battery materials through a full recycling chain from dismantling to cathode and anode regeneration. Researchers at Hanbat National University published findings in Energy Storage Materials demonstrating that intentional cation disorder enhances lithium transport in lithium-rich cathodes by locking transition-metal ions in place while preserving lithium-ion pathways, with the disordered Li1.2Ni0.4Mn0.4O2 material retaining approximately 90% of initial capacity after 50 cycles.

North Carolina enacted a landfill ban on lithium-ion batteries effective 1 December 2026, covering consumer devices from toothbrushes to blenders, with fines of $100–$500 per offense and residents directed to drop batteries at hazardous waste facilities; the rule follows a $1.5 million facility fire caused by an improperly discarded battery in January 2025. In San Diego County, a community group filed suit in Superior Court alleging that the environmental review for the 588-acre Starlight Solar project — which includes an 868 MWh battery energy storage system — was inadequate under CEQA, with concerns centered on lithium-battery fire risks, evacuation route analysis and water supply assessments. In County Durham, England, Northern Lithium's proposal for a 1,600-tonne-per-year lithium plant at Ludwell Farm near Stanhope has drawn dozens of resident objections over HGV traffic on the narrow C74 road, with a planning decision expected by 13 January 2027.

Pax Silica, a US-led coalition that has secured the signatures of twenty-four countries including the Philippines, aims to secure global supply chains for AI, semiconductors, advanced manufacturing, minerals refining, and energy infrastructure. In the Philippines, the initiative targets approximately 1,620 hectares for tech zones and data centers, with energy and water demands estimated to divert more than 20,000 hectares of agricultural land from food production, alongside expanded mining operations to supply the planned industrial hub. Critics characterize the initiative as the US response to China's minerals dominance, and warn it may also serve US military and strategic interests in the region. The international peasant movement La Via Campesina, alongside Philippine coalitions KATARUNGAN, PKKK, and PARAGOS-Pilipinas, is demanding rejection of the project, citing the absence of community consultations and failure to secure Free, Prior and Informed Consent from indigenous peoples. In parallel, a House bill is being advanced at the Philippine lower chamber establishing an Advanced Industries Zone in New Clark City, the site central to the Pax Silica project.

The Donald Rare Earth and Mineral Sands Project in northwest Victoria secured a major financing step as Export Finance Australia and the National Reconstruction Fund Corporation together granted conditional credit approval for up to A$180 million in debt, part of a proposed A$200 million senior project finance facility, with the NRFC's share alone reaching up to A$110 million in senior debt; a final investment decision is now targeted by end-2026. Energy Fuels, which holds the right to purchase all rare earth concentrate from the project for processing at its White Mesa Mill in Utah, noted the commitments complement a conditional US$725 million U.S. loan received in June 2026 from the Office of Strategic Capital, positioning the Donald Project as the upstream anchor of a vertically integrated mine-to-magnet supply chain.

Separately, Victory Metals' North Stanmore heavy rare earth project in Western Australia secured inclusion in Australia's Critical Minerals Prospectus, the Austrade initiative designed to place projects before international investors, financiers, and strategic partners. At IMARC 2026 in Sydney, New South Wales ministers pitched the state as a critical minerals hub, emphasising copper, rare earths, and high-purity alumina potential while committing to shorten approvals for greenfield projects in the Cobar and Lachlan Fold Belt districts and upgrade export corridors to Port Kembla and Newcastle.

Brazilian Critical Minerals (ASX: BCM) appointed a lead engineer for Ema FEED and raised A$10 million to advance its rare earth project toward front-end engineering and design.

On the tungsten front, Tungco's head made the case for sourcing non-Chinese tungsten from partner nations, placing Almonty's Sangdong mine in South Korea at the centre of that argument; operationally, the Sangdong grinding circuit has reached full mill throughput, a first vessel has been booked for an October 24 cargo, and the company has repurchased approximately US$48 million in shares, though Stifel responded to updated expansion-phase timing by cutting its price target to US$21 while retaining a buy rating.

An American company recovering rare earth metals from retired wind turbines has drawn attention as a potential avenue for reducing Western dependence on Chinese supply, but a detailed analysis argues that recycling cannot replace mature supply chains in the near term, citing uneven feedstock availability as most large-scale wind farms installed in Europe and the United States have not yet reached retirement age, alongside the high complexity and cost of disassembly, separation, and purification processes that prevent recycling from achieving the economies of scale needed for commercial viability.