Mining News
Once fully operational, Mt Lyell is expected to produce up to 26,000 tonnes of copper, 16,000 ounces of gold and 116,000 ounces of silver annually over a projected 23-year mine life.
The project hosts 2.96 million ounces of measured and indicated gold resources, with another 800,000 ounces in inferred resources.
Ivanhoe Electric has inched towards receiving $1.1 billion in debt financing from the U.S. Export-Import Bank (EXIM) to develop its Santa Cruz copper project in Arizona.
Mali’s future production pipeline looks promising. Authorities recently approved a large-scale mining permit for B2Gold’s Menankoto project.
Under the proposed transaction, Ausgold shareholders will receive A$1.36 per share, representing a 27.7% premium to the company’s latest closing price.
The company has significantly expanded its 2026 drilling campaign from 40,000 metres to as much as 50,000 metres.
Under the revised agreement, Barrick will contribute its Fourmile project, while Newmont will add the Mike and Fiberline deposits to the joint venture.
Lundin Gold ended the quarter with $507 million in cash and cash equivalents. It generated $96 million in free cash flow and returned $293 million to shareholders through dividends during the quarter.
The mine is projected to produce 1.6 million tonnes of nickel, along with significant volumes of iron, chrome, cobalt, palladium and platinum.
Copper production reached 13.1 million pounds during the quarter, and the company reaffirmed its full-year guidance of 50-60 million pounds.
The company reported adjusted EBITDA of $3.8 billion and adjusted earnings of $2.10 per share. Gold all-in sustaining costs stood at $1,621 per ounce, below the company's full-year guidance.
Red Chris metal production (100%) for the second quarter of 2026 was 17.924 million pounds copper and 14,591 ounces gold, compared to 23.479 million pounds copper and 22,624 ounces gold produced during the same quarter of 2025.
During the first half of 2026, copper production declined 3.2% to 515,675 tonnes, reflecting lower ore grades at the company's Peruvian operations.
The acquisition significantly strengthens NOVAGOLD's resource base by adding more than 16 million ounces of measured and indicated gold resources, including around 13 million ounces of proven and probable reserves.
At Candelaria, mining activities were disrupted by intense rainfall, although the processing plant has continued operating using existing ore stockpiles.
Although second-quarter production remained below the record level achieved during the same period last year, the company attributed the difference to its planned mining schedule and temporary limitations in accessing richer ore bodies during the first half of 2026.
Thor ended the quarter with $207.5 million in cash and an adjusted net cash position of $225.6 million, including unsold gold bullion, highlighting its strong financial position.
The project has already obtained clearances from regulators in Canada, the United States, several African countries, and the Common Market for Eastern and Southern Africa (COMESA).
Lundin Gold sold 110,385 ounces of gold during the quarter at an average realized price of US$4,359 per ounce.
The CK Gold Mine is a proposed copper and gold mine to be built on land 20 miles west of Cheyenne in the Silver Crown Mining District, neighboring Curt Gowdy State Park.
The expansion is part of the company’s broader strategy to significantly increase its global copper production to more than 2 million tonnes annually by the middle of the next decade.
The expansion recently secured key regulatory approvals, allowing the mine to transition from its existing open-pit operation to an underground block cave mine.
Under a definitive agreement with Eastfield Resources, Star Copper will obtain full ownership of the Zymo Copper-Gold Project and Eastfield's 95.3% interest in the Indata Copper-Gold-Molybdenum Project.
This initiative aims to reopen Cerro Colorado and extend its presence in the Tarapacá Region for an additional 20 years.
Currently, Peru is the third-largest copper producer worldwide and among the biggest gold producers.