EPISODE · Jun 8, 2026 · 11 MIN
Hormuz Goes Dark at Day 99, OPEC+ Moves for a Fourth Cut, China's Coking Coal Hits a Two-Year High, and GoldMining's Colombia Asset Delivers a One-Billion-Dollar PEA
from The Mining Insider · host Logan Ore - The Pro Podcasters
Today on The Mining Insider: Story 1 — Hormuz Day 99 / OPEC+ Fourth Hike: Tanker traffic down 90-95% from pre-war baseline; widespread dark shipping eliminates real-time oil/LNG flow visibility. US struck Iranian radar on Goruk and Qeshm islands; Iran's IRGC claims retaliatory strikes on US bases in Kuwait and Bahrain; Kuwait reports ballistic missile intercepts. Brent crude above $96/bbl. OPEC+ preparing fourth quota hike since closure — limited effect as spare capacity cannot bypass Hormuz. Iran seeks $24B in frozen asset releases in indirect talks. Next US-Iran diplomatic round expected week of June 22. Story 2 — China Coking Coal Hits Highest Since 2024: ~60 million tonnes of annual production capacity halted as of June 7 due to safety shutdowns. China accounts for ~50% of global metallurgical coal consumption. Elevated steel input costs flow through to capital project economics for mining operators globally. Australian, Canadian and US met coal exporters positioned to benefit from seaborne demand increase. Story 3 — GoldMining La Mina PEA Filing: GoldMining Inc. (TSX: GOLD, NYSE American: GLDG) files NI 43-101 Technical Report and updated PEA for La Mina gold-copper deposit, Antioquia, Colombia. Base case: $1.0B after-tax NPV (5%), 32.2% IRR, 2.7-year payback, $523M initial capex. LOM production 11.2 years: 1.2M oz Au, 2.6M oz Ag, 195M lbs Cu (1.5M oz AuEq total). 15,000 tpd conventional open pit. AISC $1,045/oz Au. Spot-price NPV: $1.8B, IRR 49.1%. CEO Alastair Still: 'exceptional leverage to the current metal price environment.' Story 4 — Deep Sea Minerals NOAA Substantial Compliance: Deep Sea Minerals Corp. (CSE: SEAS) confirms substantial compliance with NOAA under the modernized Deep Seabed Hard Mineral Resources Act. 150,000 km2 Pacific Ocean concession. NOAA finalized new streamlined permitting rule. Commercial extraction timeline: late 2026 to early 2027 if approvals continue advancing. CEO James Deckelman cites 'responsible, science-based development.' Sources: Geopolitics Unplugged (https://geopoliticsunplugged.substack.com/p/hormuz-dark-tankers-trigger-oil-market), Economic Times India (https://m.economictimes.com/news/international/business/opec-set-for-fourth-oil-quota-hike-since-hormuz-closure-sources-say/articleshow/131563549.cms), Mining.com on China coking coal (https://www.mining.com/press-release?id=6a265f17ac168fd8dc9d5c18), PR Newswire — GoldMining La Mina (https://www.prnewswire.com/news-releases/goldmining-files-pea-technical-report-for-its-la-mina-project-colombia---highlighting-1-0-billion-after-tax-npv-and-32-irr-302793123.html), Mining.com.au — Deep Sea Minerals (https://mining.com.au/minings-deep-sea-dilemma-world-oceans-day/)
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What this episode covers
The Strait of Hormuz enters day 99 of effective closure with tanker traffic down 90-95% from pre-war baselines; US forces strike Iranian radar sites on Goruk and Qeshm islands; Brent above $96/bbl; OPEC+ eyeing its fourth quota hike. China's coking coal hits its highest price since 2024 as ~60 million tonnes of annual capacity remain halted on safety shutdowns. GoldMining files La Mina PEA (Antioquia, Colombia): $1.0B NPV, 32.2% IRR, $523M capex, 1.2M oz gold and 195M lbs copper over 11.2 years; spot-price NPV $1.8B. Deep Sea Minerals (CSE: SEAS) achieves substantial compliance with NOAA for its 150,000-km2 Pacific Ocean seabed mineral concession.
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Hormuz Goes Dark at Day 99, OPEC+ Moves for a Fourth Cut, China's Coking Coal Hits a Two-Year High, and GoldMining's Colombia Asset Delivers a One-Billion-Dollar PEA
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