Caterpillar, ReElement & NVIDIA: The Top Stories in Mining

ReElement & TEP: Securing US$200m for Rare Earth Refining

ReElement Technologies, a critical mineral refining company, and Transition Equity Partners (TEP) have announced a strategic partnership supported by a US$200m (£157m) equity facility. The investment is designed to accelerate the expansion of ReElement's rare earth refining operations at its Marion, Indiana facility, with the aim of establishing a Western-controlled alternative to concentrated foreign supply chains.

The collaboration could mark a turning point in the race to establish Western-controlled rare earth refining capacity and reduce dependency on concentrated foreign supply chains. 

The financial backing from TEP is intended to accelerate the commercial scaling of ReElement's multi-mineral refining platform. Central to this plan is the expansion of operations at Marion, where production capacity is targeted to exceed 10,000 tonnes per annum (tpa) of refined critical minerals.

Lilac and Traxys: Scaling Utah’s Lithium Production

Electrification continues to reshape global commodity markets, creating new pressures across the mining sector and battery manufacturing value chains.

For mining executives, procurement leaders and supply chain strategists, understanding these shifts could determine competitive positioning in an increasingly volatile marketplace.

A binding 10-year offtake agreement between Lilac Solutions and Traxys North America, formalised on 15 May 2025, highlights this transformation. The deal covers lithium carbonate production from Lilac's Great Salt Lake facility in Utah and could signal a fundamental change in how critical minerals move through North American industrial networks.

This partnership extends beyond standard commercial arrangements. It establishes a framework for de-risking domestic lithium extraction in the US while creating a defined procurement route for one of the most substantial near-term critical mineral developments in the western states.

Rio Tinto & Glencore: The $260bn Case, Context and Challenge

The global mining industry could see significant change as Rio Tinto and Glencore have resumed merger discussions.

The renewed talks concern a potential consolidation that would create a combined entity with an enterprise value exceeding US$260bn.

These discussions are taking place following discussions in March 2025, when a previous attempt at a combination ended.

How Caterpillar & NVIDIA are Driving Mining Transformation

NVIDIA and Caterpillar are expanding their collaboration to bring physical AI capabilities to mining operations, with new technologies designed to optimise extraction processes and enable autonomous machinery across mine sites globally.

The partnership, announced at the Consumer Electronics Show (CES) 2026, centres on deploying next-generation digital twins and edge computing systems across Caterpillar's mining equipment portfolio, addressing critical challenges in remote mining environments.

Joe Creed, Chief Executive Officer of Caterpillar, says: "As AI moves beyond data to reshape the physical world, it is unlocking new opportunities for innovation. Caterpillar is committed to solving our customers' toughest challenges by leading with advanced technology in our machines and every aspect of business."

How Will Mining Giants Adapt as Copper Tops $13,000?

The copper market is experiencing unprecedented volatility as mining operations grapple with supply constraints and demand pressures that have pushed prices beyond US$13,000 per metric tonne for the first time.

For mining companies, this price surge presents both opportunities and operational challenges that could reshape the sector's strategic priorities.

On 6 January 2025, three-month copper futures on the London Metal Exchange (LME) exceeded the US$13,000 per metric tonne threshold, marking a 42% increase over the past year. This could represent the metal's most significant rally since 2009, driven by a combination of geopolitical tensions and severe physical scarcity that is testing the resilience of mining operations worldwide.