Electric Haulage Hits the Pilbara, Iran Eyes Hormuz Control, Barrick Breaks Ground at Fourmile, and the New US Metal Tariff Rulebook

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Electric Haulage Hits the Pilbara, Iran Eyes Hormuz Control, Barrick Breaks Ground at Fourmile, and the New US Metal Tariff Rulebook

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June 28, 2026 — The Mining Insider with Logan Ore Today's stories: 1. BHP, Rio Tinto and Caterpillar — Battery-Electric Haul Truck Trial Milestone: The two Cat 793 XE Early Learner trucks at BHP's Jimblebar iron ore mine in the Pilbara have logged 100+ operating hours and 200+ test laps. Trial enters dynamic charging phase. Quotes from BHP Australia President Geraldine Slattery and Rio Tinto Iron Ore CEO Matthew Holcz. 2. Hormuz Strategic Standoff: Straits Times analysis — Iran's objective is not just reopening the waterway. It is strategic control: transit fees, missile batteries, up to $40B in annual revenue. Ceasefire technically intact but unraveling. Iran simultaneously resumes UAE trade via Dubai's Jebel Ali Port. 3. US Section 232 Metals Tariff Overhaul — Proclamation 11032 (effective June 8): Agricultural equipment and residential HVAC reduced from 25% to 15%. Mobile industrial equipment (bulldozers, forklifts, cranes) gets new tiered Annex I-C category. US-content threshold for preferred 10% rate lowered from 95% to 85% by weight. All temporary through Dec 31, 2027. 4. Barrick Fourmile — Barminco Wins A$275M Contract: Perenti's Barminco awarded underground development contract for Barrick's fully owned Fourmile gold project in Nevada's Carlin Trend. Indicated resource: 6.3M oz at 12.4 g/t. Contract covers decline development, underground infrastructure and initial stoping. Part of Barrick's broader $3B buyback + development strategy. Tomorrow's Flashpoint: US Section 232 copper tariff report due to White House Monday June 30. Hosted by Logan Ore. The Mining Insider is produced daily for mining executives, operators, investors, suppliers, and analysts. Sources: CIM Magazine, Rio Tinto (primary), Straits Times, Anadolu Agency, BDO USA, ArentFox Schiff, Global Mining Review, Business News Australia.

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