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Canadian steel exports to the US have fallen to roughly one-third of pre-tariff values, with PwC Canada’s Gemma Stanton-Hagan estimating monthly steel revenues are about C$500 million lower than before the duties, leaving the sector under deeper and longer pressure than aluminium. Ottawa’s response centres on a C$1‑billion loan facility to address liquidity and a C$500‑million regional tariff response initiative to push diversification, which she characterises as a short-term stopgap. With 85–90% of Canadian steel exports historically bound for the US and global oversupply limiting alternative markets, producers are reassessing investment while policymakers weigh risks to domestic supply for housing, transport, energy and defence projects.

National Highways has lodged a High Court breach of contract claim against WSP over the consultancy’s role as lead advisor on its roadmap to net zero for the strategic road network. The dispute centres on advisory work underpinning National Highways’ decarbonisation strategy, which covers construction materials, maintenance regimes and operational emissions across England’s motorways and major A-roads. Any adverse ruling or settlement could reshape how UK infrastructure clients scope, procure and manage consultancy input on carbon baselining, lifecycle assessments and compliance with government net zero targets.

Regulation giving Parliament, rather than the courts, final authority to approve large low‑carbon energy schemes has been unveiled by chancellor Rachel Reeves, sharply narrowing the grounds for judicial review. The change is expected to accelerate nationally significant infrastructure projects such as offshore wind farms, grid reinforcement corridors and carbon capture clusters, where planning and consent can currently add years to programme schedules. Developers and designers will need to front‑load environmental impact assessments, land rights strategies and stakeholder engagement, as legal challenge windows and procedural arguments are curtailed.

Canada’s Supreme Court will hear British Columbia’s appeal of the Gitxaala v. British Columbia (Chief Gold Commissioner) ruling, which found the province’s Declaration on the Rights of Indigenous Peoples Act (DRIPA) incorporates UNDRIP and creates immediate, legally enforceable obligations. The case follows a 2023 BC Supreme Court decision that the province’s automatic online mineral claim staking system breached the constitutional duty to consult Indigenous nations. Mining executives say the evolving interpretation of DRIPA is injecting significant uncertainty into BC mineral tenure and project approval processes, with no hearing date yet set.

US Senators Catherine Cortez Masto and Jim Risch have introduced the bipartisan System Integrity through Licensed Vault Expansion and Resilience (SILVER) Act to amend the Commodity Exchange Act and mandate at least two licensed precious metal depositories in each US time zone, breaking the current concentration around New York City. The bill aims to cut systemic and national security risk, improve market liquidity and reduce storage and transport costs for miners and traders in Western states such as Nevada. Backers include Money Metals Depository, The Silver Institute, A‑Mark Precious Metals/Gold.com and Texas Precious Metals Depository, with a companion bill already filed in the House.

Midway through 2026, the Institution of Civil Engineers is moving to formalise its next phase of work after a first half-year focused on asset maintenance, ethics, intelligence and stewardship across the profession. Trustees are steering efforts towards more data‑driven asset management, with emphasis on whole‑life performance of critical infrastructure and clearer ethical frameworks for use of digital tools and automation. For practitioners, this signals tighter expectations on maintenance strategies, evidence‑based decision‑making and governance around intelligent infrastructure systems.

The Institution of Civil Engineers has revised and modernised its Code of Professional Conduct to tighten expectations on ethical behaviour, competence and accountability for members and registrants. The refreshed code is expected to place greater emphasis on managing safety risks, transparent decision-making on major infrastructure projects, and responsible use of emerging tools such as digital twins and AI-based design optimisation. Firms will need to review internal procedures, training and project governance to ensure alignment with the updated professional and regulatory obligations.

The Construction Leadership Council (CLC) is working with the Institution of Civil Engineers (ICE) to coordinate industry-wide action on net zero, building safety and productivity across UK infrastructure and construction. Through joint task groups and themed workstreams, the ICE contributes technical input on areas such as carbon measurement, modern methods of construction and digital design, feeding practitioner experience into CLC policy and guidance. For engineers, this linkage means that site data, design practice and lessons from major projects can more directly shape government-backed standards, funding priorities and procurement models.

The Institution of Civil Engineers is launching a new policy programme to examine how to increase investment in adapting UK infrastructure to climate change, and is seeking detailed input from its membership. The initiative will focus on practical incentives for resilience upgrades across assets such as flood defences, transport corridors and energy networks, where design lives of 60–120 years clash with rapidly shifting rainfall, temperature and coastal erosion patterns. For practitioners, this signals potential changes to funding models, appraisal methods and performance standards for climate‑resilient geotechnical and civil works.

ICE has endorsed the Competition and Markets Authority’s recommendations from its market study into UK road and rail infrastructure, signalling professional backing for changes to how major highways and rail projects are procured and governed. The CMA review examined competition, delivery models and regulatory oversight across strategic roads and the national rail network, aiming to reduce cost pressures and improve long-term asset performance. ICE’s support increases pressure on government and clients such as National Highways and Network Rail to adjust frameworks for framework contracts, alliancing and supply-chain access.

China will impose new mining controls and security reviews on foreign investment from 15 June and require strategic mineral reserves to be stored at source for at least five years, with extensions decided by State Council reviews. The measures, announced via Xinhua, aim to accelerate construction of strategic reserve sites and tighten state control over unspecified “key” minerals. Coming days after the Trump–Xi summit, the move reinforces China’s dominance over rare earths such as yttrium, where it already controls over 60% of mined supply and almost all processing.

The European Union is moving to create its first coordinated stockpile of critical minerals, initially targeting tungsten, rare earths, gallium and likely magnesium, germanium and graphite, with storage talks under way with the Port of Rotterdam as a central logistics hub. Ten member states, led by planning groups in Italy, France and Germany, are designing the scheme amid concerns over China’s export controls on gallium, germanium and graphite and its dominance in rare earth magnet supply, which covers about 93% of EU wind turbine permanent magnets. For miners and processors, the plan signals stronger EU-backed offtake certainty but also sharper scrutiny of permitting bottlenecks, as shown by delays at the Chvaletice manganese project despite its Strategic Project status.

Financing for the 3.2GW Sizewell C nuclear plant has been criticised by the UK National Audit Office, which says the Regulated Asset Base (RAB) model and £700M of direct government investment place more risk on taxpayers and bill-payers than Contracts for Difference used on other low‑carbon projects. The NAO estimates consumer benefits will not exceed costs until after 2060, well beyond the station’s planned early‑2030s commissioning. For civil and nuclear contractors, the findings signal prolonged political and regulatory scrutiny of cost overruns, schedule risk and allowable returns.

The UK government is introducing the Small Business Protections Bill (Commercial Payments Bill) to parliament, imposing a statutory 60‑day cap on payment terms for large firms and mandatory interest on late payments to smaller suppliers. The bill grants the Small Business Commissioner new powers to investigate, adjudicate and levy fines worth tens of millions of pounds on persistent late payers. For construction, a planned ban on cash retentions could significantly alter contract structures, cashflow management, and security arrangements for defects and incomplete works.

US Energy Secretary Chris Wright has issued an emergency order requiring Midcontinent Independent System Operator and Consumers Energy to keep the J.H. Campbell coal-fired plant in West Olive, Michigan available through 16 August 2026 to address critical summer grid reliability risks. The 3-unit plant, originally slated for closure on 31 May 2025, has been run during peak demand and low wind/solar periods and was key in stabilising the grid during recent winter storms. DOE’s Resource Adequacy Report and NERC’s 2025 Long-Term Reliability Assessment both flag MISO as high risk, with DOE warning outage frequency could rise 100-fold by 2030 if firm capacity is retired too quickly.

Greenland’s long-running dispute over Energy Transition Minerals’ Kvanefjeld rare earth and uranium-linked deposit shows that execution risk in permitting and regulatory stability can derail critical-minerals projects as effectively as metallurgy or ore grade. Alina Karpunina of GEM Mining Consulting argues that investors now price in years of legal conflict as a project cost, demanding higher premiums or walking away when uranium thresholds under Greenland’s 2021 law and shifting political signals make approvals look fragile. While projects like Malmbjerg molybdenum, Amitsoq graphite and Tanbreez progress under the 2025–2029 Mineral Resources Strategy and the 2023 EU-Greenland raw-materials partnership, she warns that unclear, revisable rules can render “strategic” deposits effectively unfinanceable.

More than 1,900 UK trade union members have signed a letter urging the government to reject development consent for the Rosebank oil and gas field in the North Sea, one of the basin’s largest undeveloped discoveries. The signatories, drawn from energy, construction and transport unions, argue that new offshore infrastructure such as production platforms, subsea pipelines and tie-backs would lock in high-carbon assets and divert investment from grid upgrades and large-scale offshore wind. For civil and marine contractors, the move signals potential political and permitting risk for future North Sea platform, export pipeline and onshore terminal works.

Senior infrastructure and civil engineering leaders say they would work with a Reform UK government in Westminster to secure a pipeline of “investable” major projects, signalling industry willingness to engage regardless of political uncertainty. Commentators point to the need for clear long-term funding models for schemes such as multi-billion-pound rail upgrades and strategic road corridors, plus faster Development Consent Order decisions. For contractors and consultants, the key issues would be visibility of a 5–10 year capital programme and how Reform UK treats existing commitments like HS2 enabling works and major flood defences.

The National Audit Office has warned that the Department for Transport lacks a defined risk appetite as it plans £1.1bn of innovation spending between 2022/23 and 2029/30 on areas such as maritime decarbonisation and sustainable aviation fuel. While Network Rail, National Highways and HS2 Ltd have clearer portfolio management and prioritisation processes, DfT’s central team has limited strategic oversight of innovation across modes. NAO head Gareth Davies said clearer risk thresholds and better data are needed to judge value for money and move concepts into practical deployment.

Australia’s 2026–27 Federal Budget is drawing support from the mining sector for measures to bolster fuel security, including backing for domestic refining and storage that reduces exposure to imported diesel and marine fuels. Industry groups are also welcoming commitments to streamline project approvals, with a focus on faster environmental permitting and clearer timelines for major resources projects. Exploration companies, however, are pressing for stronger direct incentives such as expanded flow-through shares or targeted tax credits to sustain greenfields drilling.

A new performance evaluation under the Net Zero Carbon Building Standard now lets buildings that are not yet fully compliant benchmark operational and embodied carbon using the same metrics as aligned assets. The framework standardises reporting of whole-life carbon, enabling consistent comparison of energy use, material emissions and retrofit performance across mixed portfolios. For engineers, this supports more granular targeting of fabric upgrades, services optimisation and low‑carbon materials, while still working within existing design, occupancy and budget constraints.

Canada’s mining sector generated C$111 billion of GDP in 2024 and C$152 billion in mineral exports (21% of all merchandise exports), yet the Mining Association of Canada is warning that slow project approvals and uncompetitive fiscal terms are eroding the country’s position amid volatile, trade-restricted critical mineral markets. MAC is urging Ottawa to accelerate federal impact assessments and permitting, improve federal‑provincial coordination, and expand northern geoscience and resource assessments. It also wants broader Canadian Exploration Expense eligibility, tax credits for brownfield expansions, and rapid implementation of 2025 budget measures such as clean technology credits and accelerated capital cost allowances.

Defra and Natural England have launched a call for evidence, open until 22 May 2026, asking developers and construction contractors to share practical experience of great crested newt protection on housing and infrastructure schemes. Supported by consultants LUC and ICF, the review targets on-site measures such as exclusion fencing, pitfall trapping, seasonal timing of earthworks and licensing delays. Responses could influence future mitigation licensing, survey requirements and design-stage constraints on sites where newt habitats intersect with foundations, drainage and earthworks.

King Charles’s 2026 speech sets out bills aimed at unlocking UK airport expansion and accelerating major transport infrastructure construction. Measures are expected to streamline planning and consenting for runway extensions, terminal upgrades and associated surface access works, and to simplify approvals for large rail and highway schemes. Civil and geotechnical engineers should anticipate tighter programme windows, earlier ground investigation and design commitments, and greater emphasis on integrating airfield works with surrounding road and rail capacity upgrades.

King Charles III’s first King’s Speech under the new Labour government offered almost no concrete legislative detail for construction or infrastructure, leaving professional bodies such as RIBA and CIOB largely underwhelmed. Representatives from the Residential Freehold Association and Churchill Living also struggled to identify clear implications for planning reform, building safety, or long-term capital investment. For engineers and contractors, the absence of specific commitments on housing delivery targets, infrastructure pipelines, or regulatory changes signals continued policy uncertainty heading into 2025.

Australia’s 2026–27 Federal Budget directs major funding to critical minerals, fuel security and faster project approvals, signalling a more supportive policy setting for new mines and downstream processing. Industry groups point to expanded backing for strategic minerals supply chains and measures to shore up diesel and aviation fuel stocks, reducing exposure to import disruptions that can halt haulage and processing plants. Commitments to streamline approvals are expected to shorten lead times for greenfield projects, with direct implications for permitting schedules, early works planning and capital allocation.

Australia’s 2026/27 Federal Budget allocates more than $8.6 billion to new and ongoing nationally significant transport projects, while keeping a rolling infrastructure pipeline above $120 billion over 10 years. Funding profiles are being reshaped in the near term to reflect economic impacts from the Middle East conflict and broader fiscal pressures, rather than cutting headline commitments. Contractors and designers can expect continuity on major road and rail corridors but should plan for timing shifts in tender releases, cashflow and staging of large packages.

The US Department of Energy has awarded contracts to exchange 53.3 million barrels of crude from the Strategic Petroleum Reserve’s Bayou Choctaw, Bryan Mound, Big Hill and West Hackberry salt cavern sites, as part of a 172-million-barrel commitment under the IEA’s coordinated release. The SPR currently holds about 384–397 million barrels, with 35 million barrels already delivered to market and an additional 35 million barrels generated for the reserve at no taxpayer cost through earlier exchanges. Under the new awards, DOE secures a 28% return premium—15.1 million barrels—and allows participating companies to use a limited Jones Act waiver to accelerate coastal shipments.

Fortescue has been ordered by the Federal Court of Australia to pay more than A$150 million (US$108 million) to the Yindjibarndi people for “significant damage” to cultural heritage sites caused during operations at its Solomon Hub iron ore mine in the Pilbara. The ruling, which also includes A$100,000 for economic loss, follows a native title dispute dating back to a 2003 claim and the Yindjibarndi’s 2017 grant of exclusive rights over a 2,700 sq km, iron ore-rich area. For miners, the case signals materially higher native title compensation exposure and ESG risk where projects pre-date or contest Indigenous land determinations.

US federal critical minerals support under the Trump administration has reached about $18.6 billion across 60 financings, with roughly $15.9 billion in loans, $2.1 billion in equity and $615 million in grants, but BMO Global Commodities Research says the allocation is heavily skewed to rare earths despite their modest $3.5 billion global market. Major rare earth packages include a $565 million DFC facility for Brazil’s Serra Verde, USA Rare Earth’s planned $2.8 billion acquisition of the asset, and a $400 million US DoD stake in MP Materials. By contrast, tungsten projects such as Fireweed Metals’ Mactung and Northcliff Resources’ Sisson have received only about $15–16 million each, with antimony, nickel, cobalt, tantalum and tin seeing minimal support, signalling continued funding gaps for non-REE critical metals.

India’s government is urging citizens to halt gold jewellery purchases for 12 months to protect foreign-exchange reserves as Middle East conflict-driven oil prices widen the trade deficit and pressure the rupee. Jewellery demand reached about 440 tonnes in 2025, with a further 280 tonnes in bars and coins, and gold already makes up roughly 17% of India’s FX reserves, so even partial compliance could soften physical premiums, lift London vault inventories and marginally cap global prices. Enforcement is unclear, with past curbs pushing buying into recycling and smuggling rather than cutting total consumption.

HSE has banned dry cutting of engineered stone in the UK and ordered a shift towards lower-silica materials after two worker deaths from silicosis in the sector. The guidance requires wet cutting or on-tool extraction with high-efficiency local exhaust ventilation for any remaining high-silica products, bringing practice closer to controls already used on tunnelling and concrete cutting. Fabricators and contractors now face mandatory process changes, material substitution reviews, and likely revisions to COSHH risk assessments and respiratory protection programmes.

Cenovus Energy CEO Jon McKenzie warns Canada is becoming uncompetitive for oil sands investment, citing lengthy approvals, higher operating costs and a proposed C$130/t industrial carbon tax that he says is unique globally and pushes capital to the US and Middle East. He notes only one new greenfield oil sands project has been approved and built since 2013 despite persistent global oil demand, arguing policy must support “filling a pipeline” with new developments. The warning comes as Cenovus posts Q1 net earnings of C$1.57 billion and record upstream output of 972,000 boe/d after acquiring MEG Energy.

A bill to repeal New South Wales’ 1986 prohibition on nuclear energy and uranium mining has passed the state’s Upper House and now moves to the Lower House for a final vote. Introduced by Libertarian Party MLC John Ruddick, the Uranium Mining and Nuclear Facilities (Prohibitions) Repeal Bill could open uranium exploration around historic prospects such as the Broken Hill region, dormant since the 1970s–80s. The Minerals Council of Australia notes countries representing about 70% of global GDP are now looking to nuclear power and Australian uranium for energy security and grid decarbonisation.

The Uranium Mining and Nuclear Facilities (Prohibitions) Repeal Bill 2025 has passed the New South Wales Legislative Council, moving the state closer to lifting its long‑standing ban on uranium mining and nuclear facilities. The bill must still clear the Legislative Assembly before companies can advance exploration and project feasibility for uranium deposits previously sterilised by the prohibition. Any repeal would trigger new regulatory work on radiation protection, tailings storage design and long‑term groundwater monitoring frameworks specific to uranium operations in NSW.

Chile’s Senate is reviewing a cross‑party bill to create a dedicated legal regime for critical minerals, adding standards for management, information, traceability and operational continuity across the full value chain without amending core mining laws. The draft defines critical minerals as lithium, cobalt, nickel, graphite, copper, rare earths, molybdenum, rhenium, antimony, selenium, silicon, tellurium and indium, all tied to batteries, electrification and solar technologies. For operators, the shift signals tighter oversight on processing and supply‑chain transparency rather than new concession rules.

Mining royalties and payroll tax are again propping up the Northern Territory’s 2026–27 budget, with Treasury forecasts heavily reliant on existing operations such as McArthur River Mine and the Gove bauxite transition. Industry groups including the Minerals Council of Australia’s NT division are pushing for stronger incentives, calling for accelerated depreciation, streamlined approvals under the Territory’s Mineral Titles Act, and more funding for regional roads and power. The debate centres on whether current fiscal settings can attract new critical minerals projects in remote areas with high logistics and energy costs.

Construction in the UK has been formally classified as a “high-risk” sector for modern slavery in a new national report, alongside small cash-based businesses such as vape shops, barbers and hand car washes. The designation points to particular vulnerability in labour-intensive, subcontractor-heavy supply chains on building sites, including temporary works, groundworks and finishing trades where migrant and agency labour are common. Contractors can expect closer scrutiny of right-to-work checks, labour agency practices and tier-2/3 subcontractor oversight on major infrastructure and building projects.

The 2026 Women in Industry Awards will be held on 18 June at Doltone House Darling Island Wharf in Sydney, bringing together senior leaders and technical specialists from construction, transport, mining, manufacturing and related industrial sectors. The event recognises women driving operational, engineering and project delivery outcomes across areas such as major road upgrades, heavy plant operations, asset maintenance and advanced manufacturing. For civil, geotechnical and mining firms, participation signals support for workforce diversity in site-based roles and technical leadership, which is increasingly scrutinised in government procurement and Tier 1 contractor supply chains.

Canada’s new C$25‑billion Canada Strong Fund, to be deployed over three years, will act as a sovereign equity investor alongside tools like the Canada Infrastructure Bank and Export Development Canada, targeting large critical minerals, infrastructure‑adjacent and advanced manufacturing projects. Mining proponents seeking Fund backing will need “Fund‑ready” projects, with disciplined capital plans, advanced permitting, robust Indigenous engagement and transparent supply chains, and should expect tighter scrutiny of foreign ownership. A parallel Defence Industrial Strategy elevates 10 NATO‑listed defence‑critical minerals produced in Canada to security assets, favouring Canadian or allied mine‑to‑processing supply chains and execution‑ready projects over speculative plays.

Ontario’s Progressive Conservative government plans a large legislative package this autumn to cut permitting timelines by up to half for early and advanced exploration, mine expansions and projects in its One Project, One Process stream, which already covers Frontier Lithium’s PAK, Canada Nickel’s C$2‑billion Crawford and Kinross’s Great Bear. Energy and Mines Minister Stephen Lecce is tying the reforms to a new defence-focused minerals strategy for 2027 and Toronto’s bid to host Nato’s Defence, Security and Resilience Bank. The policy push emphasises domestic processing of nickel and other critical minerals, reduced federal–provincial duplication, and faster roads and transmission to the Ring of Fire.

Guidance for nuclear site licensing has been updated by the Office for Nuclear Regulation for the first time since 2021, placing stronger emphasis on early, structured engagement between developers and the regulator. The refresh aligns licensing expectations with recent UK government policy on new nuclear, including large gigawatt-scale stations and small modular reactors. For civil and geotechnical teams, earlier ONR input at concept and site selection stages is likely to affect ground investigation strategies, safety case development and programme risk.

Balancing major infrastructure delivery with statutory nature recovery duties, Natural England’s chair and strategic director call for schemes to integrate biodiversity net gain and landscape-scale habitat restoration from the outset of design. They point to large transport corridors and housing allocations as opportunities to hard‑wire green infrastructure, floodplain reconnection and species-rich buffer zones into earthworks, drainage and bridge layouts rather than bolt them on at planning. For civil and geotechnical teams, this signals earlier engagement on soils, hydrology and long-term habitat management within standard design and cost models.

The UK Government has launched a sweeping reform programme for Ofgem, saying the energy regulator must be modernised to keep pace with the energy transition and the rapid build-out of grid-scale renewables and new transmission capacity. Proposals are expected to tighten oversight of network investment decisions, streamline approvals for major reinforcement schemes, and clarify how Ofgem balances bill-payer protection with funding for low-carbon infrastructure. For civil and grid engineers, this signals potential changes to cost allowances, delivery timelines and risk allocation on large transmission and distribution projects.

The Australian Federal Government has committed more than $45 million to fast‑track environmental approvals for major projects, targeting duplication between state and Commonwealth processes under the Environment Protection and Biodiversity Conservation Act. Funding will expand assessment capacity within the Department of Climate Change, Energy, the Environment and Water and support digital lodgement and tracking systems for approvals. For miners and project developers, the move signals potential reductions in front‑end schedule risk and holding costs, particularly for large greenfield operations and critical minerals projects awaiting primary environmental sign‑off.

China is tightening operational control over its rare earth sector with a new MIIT draft framework imposing administrative penalties for breaching mining and smelting quotas, including fines of up to five times “illegal gains”, confiscation of products and equipment, and licence revocation for output more than 30% above quota. The rules also target unauthorised separation and unreported product flows, reinforcing Beijing’s push for “total control” over a supply chain that delivers over two-thirds of global rare earth mine output and dominates refining. For non-Chinese miners and downstream manufacturers, the move signals higher geopolitical and price risk around magnet, turbine and electronics raw materials.

Trustee for Professional Conduct and Ethics at the Institution of Civil Engineers reports early but “welcome changes” in how engineers approach ethical decision-making on projects. The focus is shifting from narrow compliance with professional codes towards broader consideration of public safety, climate resilience and long-term societal impact in infrastructure design and delivery. For practitioners, this points to ethics being treated as a core design constraint—alongside cost, programme and Eurocode compliance—rather than an afterthought managed solely through formal procedures.

Liam Eagle of Ward & Burke Construction has won the 30th annual James Rennie Medal, awarded by the Institution of Civil Engineers to the top Chartered Professional Review candidate. The medal, named after 19th‑century civil engineer James Rennie, recognises excellence in achieving Chartered Engineer status and the technical rigour demonstrated in the review process. For practitioners, the award signals ICE’s continued emphasis on strong early-career competence in design, construction management and professional judgement.

The government’s new integrated transport strategy, Better Connected, proposes a more people-centric travel network across England, reshaping priorities for road, rail and active travel schemes. Early signals point to greater emphasis on multi-modal hubs, bus and rail integration, and reallocating road space to walking and cycling, with funding likely tied to corridor-level performance rather than isolated schemes. Civil and transport engineers should expect stronger requirements for whole-life carbon assessment, accessibility metrics and network resilience criteria in future business cases and design standards.

Chile’s National Reconstruction and Economic Development Bill proposes cutting the corporate tax rate from 27% to 23% by 2029 and offering a 25‑year tax invariability regime capping foreign investors’ effective burden at 35%, locking in royalties, mining patents and other levies for major copper, gold, lithium and rare earth projects. The package also targets a $100 billion mining project pipeline by shortening permitting that now exceeds 1,000 days, with limits on environmental review rounds, caps on injunctions and deadlines for archaeological approvals. Investors are watching Congress closely, as any dilution of the tax certainty framework or weaker royalty stabilisation would directly affect project economics and timing.