Sturnella Signals | Vol. 1 · Issue 016 · August 7, 2026

MSHA New Miner training does what it is designed to do. Across the Part 46 and Part 48 frameworks, new-miner training covers hazard recognition, emergency procedures, miners' statutory rights and, depending on the mine and work environment, topics such as self-rescue or respiratory devices and roof or ground control. What struck me was not what the curriculum covers. It was the gap between how the equipment is described and what the equipment has quietly become.

Four observations from the week, offered as a pulse check rather than a survey.

Last issue reported a coordinated attack on operational technology at more than 30 Minnesota community water systems on July 26 and 27. It has since widened. CISA issued an alert on July 30 describing a significant increase in threat actors targeting programmable logic controllers in the water and wastewater sector, and urged owners and integrators to remove publicly exposed PLCs and other OT from the internet. The FBI and EPA followed with a public service announcement stating that utilities in at least seven states have reported incidents since July 27, with some activity degrading water operations.

President Trump hosted an American mining industry roundtable at the U.S. Department of State on Friday, August 7, alongside Secretary of State Marco Rubio, Commerce Secretary Howard Lutnick, and Interior Secretary Doug Burgum, with roughly 200 executives, educators, and investors present. The White House fact sheet announced more than $2 billion in critical mining and mining-related projects and more than $180 million in mining school investments.

Two notes on the number. First, the White House fact sheet itemizes more than $2.1 billion in named project actions, before the separate $180 million-plus education package. Reuters described the broader day's package as $3 billion. Those totals are not directly interchangeable, so cite the source and the scope of the figure rather than trying to force a reconciliation. Second, Reuters identifies the $1.4 billion Sila, $400 million Sunrise Energy Metals, and $150 million Niron Magnetics actions as conditional loans approved by the Office of Strategic Capital. Approval is not the same thing as cash disbursement, and that distinction matters for anyone modeling timing.

The workforce framing deserves more attention than it will get. Industry and government sources have repeatedly warned that roughly half of the current U.S. mining workforce may need to be replaced by 2029 as workers retire. The White House also puts cumulative activity since January 2025 at 160 minerals deals worth almost $40 billion.

Resolution Copper awarded approximately $110 million in contracts to Major Drilling America and Redpath USA to advance exploration and underground development at the proposed Arizona copper mine. The awards are major early commitments under the approximately $500 million investment program announced following completion of the Final Environmental Impact Statement process, Record of Decision and congressionally mandated land exchange.

Editor's note: This is market commentary, not investment advice.

The Bureau of Labor Statistics reported that nonfarm payrolls fell by 23,000 in July against a Reuters consensus expectation of roughly 80,000 gains. Gold responded immediately, briefly trading around the mid-$4,300s per ounce and reaching its highest level in about seven weeks, while setting up its best week since January with a gain of more than 7%. The mechanism is familiar: softer labor data and easing energy prices reduced the perceived odds of a Federal Reserve hike this year, and lower yields reduce the opportunity cost of holding non-yielding bullion.

Revisions did the real damage. May was revised down 66,000 to 63,000 and June down 37,000 to 20,000, leaving the two months a combined 103,000 lower than previously reported. Average hourly earnings rose two cents to $37.62, taking the annual pace to 3.2%. Mining, quarrying, and oil and gas extraction employment was little changed on the month.

This lands one week after a 9-3 hold in which three officials preferred an immediate hike. Wage growth at 3.2% weakens the inflationary-labor-market argument that several Fed officials had been making for a September move. Energy is the offsetting force, and it has not resolved: Brent traded in the low-to-mid $80s this week on continued uncertainty over Strait of Hormuz reopening terms.

This section tracks disclosed workforce moves of roughly 100 positions or more. Dates below distinguish new announcements from continuations of previously disclosed programs, because several items circulating this week are older than they appear.

MSHA New Miner training is complete, and I am now coordinating select opportunities to spend more time on operating mine sites. The objective is to connect board-level cyber and resilience governance with the realities of OT environments, contractor access, communications, maintenance, production constraints, and field operations.

One specific ask coming out of this issue: if your operation has been building a connected-device inventory that spans EHS-owned equipment as well as process control, I would like to hear how you scoped it and who owns it. Mine-site visits, operational risk discussions, and field-based advisory work are currently being scheduled, with additional dates and locations announced as they are confirmed.