Yesterday the House Natural Resources Committee approved an amended version of the "Mining Regulatory Clarity Act." The bill affirms longstanding land use practice around waste material movement from mineral extraction in mining, clarifying confusion stemming from an improper 2019 Court ruling. Sens. Catherine Cortez Masto and Jim Risch have a companion bill, which moved through the Senate Energy and Natural Resources Committee earlier this year.
The Committee also supported Rep. Pete Stauber's "Critical Mineral Dominance Act," which would codify certain provisions in President Trump's mining related executive orders.
Looking now at the markets, seaborne thermal coal prices rebounded in September from four-year lows in June and July as China ramped up coal imports amid higher summer demand and falling domestic production. After months of declining coal imports, with July arrivals down about a quarter year over year, China's coal imports strengthened in August and are set to continue their rebound in September.
And while they're importing more coal, they're exporting more rare earths. In fact, China's exports of rare earth products jumped to their highest level on record in August. Shipments rose to the highest monthly figure since records began in 2012 and a sharp reversal from July, when exports slumped. The record shipments come just before a planned call between Chinese President Xi and President Trump this Friday. Is that a coincidence? Who am I to say?
