Capacity Constraints Halt New SGM Exploration Projects

The Mexican Geological Survey (SGM) announced it will pause the expansion of new exploration projects in 2026. Resources will be assigned to three exploration projects started in 2025, due to capacity constraints. In other news, Norway announced it will halt deep-sea mining after internal budget negotiations. Under the reached agreements, the country will not issue deep-sea mining licenses until 2029. 

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SGM Limits New Exploration Projects for 2026

SGM will pause the expansion of new exploration projects in 2026 due to the size of the areas already assigned and the operational capacity available, according to its Director, Flor de María Harp. 

Record Silver Price Surge Confirms Precious Metal’s Critical Role 

Michael DiRienzo, Executive Director, The Silver Institute, reveals that silver has posted a staggering year-to-date gain of over 95% in 2025, reaching a record high of US$57.85/oz despite a 4% decline in global physical demand. He attributes this performance to robust investment inflows and an unprecedented liquidity squeeze that have offset weakness in the industrial and jewelry sectors, all while the market records its fifth consecutive annual deficit.

Capitan Silver Secures CA$20 Million for Cruz de Plata

Capitan Silver announced a bought-deal private placement, expected to raise over CA$20 million (US$14.45 million), led by Stifel Canada as sole bookrunner and lead underwriter, alongside a syndicate of underwriters. The Offering consists of 9,855,000 common shares at CA$2.03 per share, with the potential for underwriters to purchase an additional 1,478,250 shares under the same terms. 

Education, Local Support Elevate Mexican CRM Understanding: CDN 

Karina González, Vice President of Business Development LATAM, highlights the introduction of Smart Certified Reference Materials (Smart CRM) to help companies better manage regulatory audits and contaminant reporting.

Mining and Metals Set for Cautious Optimism in 2026

Mineral and metal markets are set for a cautiously optimistic 2026, with prices supported by the global push for net-zero, supply constraints, and a race for critical minerals, even as China’s property slump continues to weigh on base metals, according to BMI, a Fitch Solutions unit.

Norway Pauses Deep-Sea Mining Until 2029

Norway has decided to halt deep-sea mining after the ruling Labor Party reached an agreement with the opposition Socialist Left Party to secure approval of its latest budget. Under the deal, no new deep-sea mining licenses will be issued in Norwegian territorial waters until 2029.