Mega-Projects Are Getting Harder to Build | Joe Mazumdar

Joe Mazumdar, Editor of Exploration Insights, joins Kitco Mining’s Digging Deep with Paul Harris to discuss global bond stress, gold’s renewed strength, country risk, permitting wins, critical minerals policy and where major junior mining financings are flowing. Mazumdar says debt costs, currency uncertainty and geopolitical risk should keep support under precious metals, while higher rates raise the cost of capital for mining projects. He says Barrick’s Reko Diq copper project in Pakistan shows why the mega-projects needed for future copper supply are becoming harder to build, with security risk, capital intensity, infrastructure needs and long permitting timelines weighing on development. Mazumdar also discusses the Andean copper and lithium alliance between Peru, Chile, Argentina and Bolivia, permitting wins in Yukon, Oregon and Arizona, First Nations consultation battles in British Columbia and Ontario, and U.S. efforts to secure critical minerals for drone warfare. He also weighs Project Vault, processing bottlenecks, tungsten economics, and why big financings for Magna Mining, Thesis Gold and Radisson show capital is still flowing to lower-risk jurisdictions. Recorded September 3, 2026. Don’t forget to subscribe to the Kitco Mining & Kitco News YouTube channels to stay up to date on the latest industry news and interviews. 00:00 - Welcome and Digging Deep Agenda 00:21 - Bond Yields and Gold Surge 02:58 - Will the Gold Rally Last? 04:32 - Barrick Reko Diq Security Risk 07:24 - Mega-Projects and Barrick Spinout Strategy 10:31 - Andean Copper-Lithium Alliance 16:24 - Permitting Wins in U.S. and Canada 23:20 - First Nations Consultation Battles 29:06 - Critical Minerals for Drone Warfare 35:08 - Tungsten Boom and Project Economics 37:20 - Big Junior Financings in Canada 40:05 - Wrap-Up and Subscribe __________________________________________________________________ Kitco Mining is dedicated to reporting on the mining industry. Our mandate is to be the top resource for all mining information and news, offering a clear perspective on where the industry is going through breaking news coverage, mining trends, and in-depth reporting, presented with precious, rare earth, base metals, and industry stock prices. Get important precious and base metal updates while on the go with the Kitco Gold LIVE! app - https://applications.kitco.com Stay connected with us X - https://x.com/KitcoMining Instagram - Instagram: kitcomining LinkedIn - LinkedIn: kitco-mining Facebook - Facebook: KitcoMining Connect with the Kitco Mining anchors Paul Harris - https://x.com/paulharrisgold For more in-depth mining coverage, visit us here: https://www.kitco.com/mining Disclaimer: Videos are not trading advice, and the views expressed may not reflect those of Kitco Metals Inc.