27 January 2023 | Other

U.S. bans copper and nickel mining in northern Minnesota

The Twin Metals project is at risk due to the U.S. ban on mineral mining in northeast Minnesota. This restriction will last for 20 years. Regarding this, the project’s owner, Chilean company Antofagasta Plc, will not be able to mine copper and nickel in the designated area. However, Antofagasta intends to defend its rights to access the mineral deposit.

If the Twin Metals project is built, it might become the main source of copper and nickel in the U.S. Currently, there is only one nickel mine in the country, which will also be closed by 2025.

In addition to its impact on the Twin Metals project, the ban significantly complicates the transition to green energy by blocking the source of needed minerals. Copper and nickel are used in the production of electric vehicles, solar panels, and other devices based on renewable energy sources.

However, the U.S. President’s Administration stated that the risk to northern Minnesota’s ecology is too high.

It remains unclear now if the administrations of future U.S. presidents might overturn the ban. Only Congress has the power to make it permanent.

Company MarketCheese
Period: 22.06.2026 Expectation: 1140 pips
Invest in AUDCAD with 0.99500 in sight
22 May 2026 65
Period: 29.05.2026 Expectation: 675 pips
Brent crude maintains upside potential despite sellers’ resistance
22 May 2026 51
Period: 29.05.2026 Expectation: 585 pips
USDCAD gets support from resilient American economy
22 May 2026 40
Period: 22.06.2026 Expectation: 4300 pips
Selling GBPUSD amid UK political crisis
22 May 2026 35
Period: 22.05.2026 Expectation: 1700 pips
Go short on EURUSD as dollar gains strength
22 May 2026 24
Period: 28.05.2026 Expectation: 2500 pips
USDJPY sell-off targets 156.50 amid weakening upward momentum
21 May 2026 61
Go to forecasts