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The Mining Insider — July 19, 2026
Today's episode covers four major developments shaping global mining and energy markets.
1. US-Iran Ceasefire — Hormuz Reopens Friday: President Trump announced the deal complete Sunday evening; Pakistani PM Sharif confirmed the ceasefire. The Strait of Hormuz reopens to commercial shipping Friday. Twenty-five billion dollars in frozen assets released; sixty-day follow-on talks on nuclear program and sanctions. Brent had peaked at $88.10 before the announcement.
2. Caspian Pipeline Consortium Halts Loadings After Drone Attack: Drones struck two tankers — ASIA and NISSOS IOS — at the CPC terminal near Novorossiysk. The ASIA caught fire; both remained afloat; no injuries, no spill. Loadings suspended. CPC handles 80% of Kazakhstan's crude exports and ~1.5% of global oil supply.
3. Peru: Fujimori's Mining Gamble: President-elect Keiko Fujimori takes office July 28. Peru holds $64B in planned mining investments; 200 active social conflicts. Most mining regions voted against Fujimori. Southern Copper's Tia Maria ($1.8B, 2027 target) and Zijin's Rio Blanco flagged as flashpoints.
4. First Quantum / Taca Taca / Rio Tinto: First Quantum reportedly exploring a stake sale in Argentina's Taca Taca copper project. Rio Tinto named as preliminary unconfirmed potential buyer. No deal announced.
