Core Insights - The U.S. is heavily reliant on imports for rare-earth magnets, primarily from China, which poses risks to supply security and industrial resilience [1][4][3] - China's dominance in the rare-earth industry allows it to control prices and influence various downstream industries, including electric vehicles and defense systems [4][2] - The U.S. is taking steps to rebuild its rare-earth supply chain, with initiatives like REAlloys' merger and the support from the U.S. Export-Import Bank [5][6][10] Industry Overview - The rare-earth sector is critical for technologies such as electric vehicles, wind turbines, and medical imaging, with demand projected to quadruple by 2040 [17][18] - China currently produces about 70% of mined rare-earth materials, refines nearly 90% of global output, and manufactures approximately 92% of the world's permanent magnets [4][3] - The U.S. Department of Defense has committed over $439 million to develop a domestic mine-to-magnet capability, indicating a strategic shift in policy [10][21] Company Developments - REAlloys is establishing a fully integrated supply chain from mining to magnet production, with significant projects in Saskatchewan and Ohio [7][9][8] - The company has secured a $200 million Letter of Interest from the U.S. Export-Import Bank, which supports its efforts to create a domestic supply chain [6][11] - A strategic partnership with Japan's JOGMEC aims to enhance technology transfer and co-investment in magnet production, highlighting international collaboration [12][14][16] Market Dynamics - The price volatility of rare-earth materials has been exacerbated by China's export controls, impacting global supply chains [19][20] - The U.S. is focused on creating a diversified supply chain that includes allied nations, moving away from dependence on Chinese processing [26][27] - Companies like MP Materials and Energy Fuels are also positioning themselves as key players in the critical minerals space, with significant investments and strategic partnerships [28][31][34]

Group 1 - Andina Copper Corporation issued 7,550,000 shares at $0.40 per share, raising gross proceeds of $3,020,000 through a private placement [1] - The company paid a total of $24,000 in finder's fees related to the offering [1] Group 2 - Andina Copper Corporation is focused on copper exploration in South America and is listed on the Canadian Stock Exchange, Frankfurt, and OTC exchanges [2] - The company holds two significant copper discoveries in the Andean porphyry belt located in Argentina and Colombia, along with an undrilled copper-gold target in Chile's Coastal Cordillera [3]

Core Insights - Meridian Mining UK S has received unanimous approval for the Preliminary Licence (PL) of the Cabaçal Au-Cu-Ag project from CONSEMA, the Environmental Council for the State of Mato Grosso, following a positive technical opinion from SEMA based on the Environmental Impact Assessment [2][4][8] Licensing and Regulatory Progress - The formal issuance of the Preliminary Licence is underway, with SEMA responsible for publishing the approval in the State of Mato Grosso gazette [3] - The PL is the first of three permitting stages required for the Cabaçal project, with the next step being the Installation License, which will allow construction activities to commence [5] Project Economic Viability - The Cabaçal project has a base case after-tax NPV5 of USD 984 million and an IRR of 61.2%, based on a pre-production capital cost of USD 248 million, leading to capital repayment in 17 months [7] - The project has a low All-in-Sustaining-Cost of USD 742 per ounce of gold equivalent and a production profile of 141,000 ounces of gold equivalent over its life [7] Technical and Environmental Aspects - The technical aspects, environmental feasibility, and social acceptance of the Cabaçal project have been affirmed, contributing to the positive response from CONSEMA [4][8] - The Cabaçal Mineral Reserve estimate includes Proven and Probable reserves of 41.7 million tonnes at 0.63g/t gold, 0.44% copper, and 1.64g/t silver [10]

Copper surged to a new record on Wednesday on hopes of a U.S.-China deal, with three-month futures on London markets exceeding $11,140 per ton. The 25% year-to-date rally so far has been the best performance for the metal since 2017.“Copper prices are being supported by a pick-up in risk appetite on optimism about a potential trade deal between the U.S. and China,” Craig Lang, CRU Group’s principal analyst, said per Bloomberg. “The metal has also been supported by the concerns about physical tightness in ma ...

Core Insights - Tribeca Resources has signed a definitive option agreement to acquire a 100% interest in the Jiguata Porphyry Copper property in northern Chile, covering an area of 10,000 hectares [1] - The acquisition will be completed over a five-year period, with staged cash payments totaling $100,000 (C$139,443) within the first two years and a minimum of 3,000 meters of drilling required [3] Property Details - The Jiguata property features a large epithermal and interpreted porphyry alteration system within the Chilean Eocene-Oligocene Belt, partially covered by younger Miocene rocks [2] - The site is accessible via the paved Collahuasi road and has nearby infrastructure, with an exploration target defined measuring approximately 5km by 3km, including two near drill-ready targets [2] Company Strategy - Tribeca Resources plans to conduct pre-drilling work at Jiguata concurrently with additional drilling at its flagship La Higuera property [3] - The CEO of Tribeca Resources expressed enthusiasm about the acquisition, highlighting the company's preparations to commence fieldwork at Jiguata in the coming weeks [4] - The next 12 months are expected to be a period of high activity for Tribeca, with drilling planned at both the La Higuera and Jiguata properties, positioning the company to capitalize on growing interest in quality copper exploration [5]

VANCOUVER, BC / ACCESS Newswire / October 30, 2025 / :Camino Minerals Corporation (TSXV:COR)(OTCID:CAMZF) ("Camino" or the "Company") is pleased to announce that its joint venture with Nittetsu Mining Co., Ltd. ("Nittetsu") will initiate leaching studies at Nittetsu's metallurgical and chemical facility in Tokyo. ...

Financial Highlights - Ivanhoe Mines reported a Q3 2025 profit of $31 million and adjusted EBITDA of $87 million, with $76 million attributable to Kamoa-Kakula [1][9] - Kamoa-Kakula sold 61,528 tonnes of copper at an average realized price of $4.42/lb, compared to 101,714 tonnes at $4.34/lb in Q2 2025 [9] - Kamoa-Kakula recognized revenue of $566 million and an operating profit of $69 million for the quarter, with an EBITDA margin of 35% [9] - The cost of sales per pound of payable copper sold was $3.23/lb, up from $2.85/lb in Q2 2025, while cash cost (C1) averaged $2.62/lb, compared to $1.89/lb in Q2 2025 [9][11] - Capital expenditure guidance for Kamoa-Kakula was lowered to $1,320 million to $1,500 million for 2025, while 2026 guidance was raised to $800 million to $1,300 million [9] Operational Highlights - The Stage Two dewatering of the Kakula Mine is approximately 35% complete and expected to finish in early December 2025, which will improve head grades in Q4 2025 [1][37] - Kamoa-Kakula's annualized copper production is targeted to exceed 550,000 tonnes as higher-grade mining areas are reopened [1][42] - Kipushi produced a record 57,200 tonnes of zinc in Q3 2025, with annualized production rates reaching up to 315,000 tonnes [1][11] - The first feed of ore into the Platreef Phase 1 concentrator occurred recently, with first concentrate expected in the coming weeks [1][12] Project Development - The engineering contractor for the Phase 2 expansion of the Platreef Mine has been appointed, with earthworks set to begin in Q1 2026 [1][15] - Kamoa-Kakula's on-site direct-to-blister copper smelter, the largest in Africa, is expected to start up in November 2025 [1][12] - Construction of Kamoa-Kakula's solar facilities is progressing, with a combined capacity of 60 MW expected to be operational by Q2 2026 [1][57] - The updated life-of-mine integrated development plan is underway, targeting an increase in mining rates to 17 million tonnes per year before the Phase 4 expansion [1][41] Strategic Partnerships and Financing - Ivanhoe Mines completed a strategic private placement with Qatar Investment Authority, raising $500 million [2][9] - A further $70 million was received from Zijin following the exercise of its anti-dilution rights [11]

Financial Data and Key Metrics Changes - Southern Copper Corporation achieved record net sales, adjusted EBITDA, and net income in the third quarter of 2025, driven by increased byproduct production and improved metal prices [4] - Adjusted EBITDA for the third quarter was $1,975 million, a 17% increase from $1,685 million in 2024, with an adjusted EBITDA margin of 59% compared to 58% in 2024 [16][17] - Net income for the third quarter was $1,108 million, representing a 23% increase over $897 million in 2024, with a net income margin of 33% versus 31% in the same quarter last year [19][20] Business Line Data and Key Metrics Changes - Copper production decreased by 7% year-over-year to 234,892 tons in the third quarter, primarily due to lower production at Toquepala and Cojone mines [8] - Molybdenum production increased by 8% in the third quarter, driven by higher output at La Carriata and Toquepala mines [11] - Silver production increased by 16% year-over-year, with an average price of $39.56 per ounce, reflecting a 34% increase [12] - Zinc production surged by 46%, totaling 45,482 tons, mainly due to a 108% increase at the Buena Vista zinc concentrator [13][14] Market Data and Key Metrics Changes - The LME copper price rose by 7% to an average of $4.44 per pound in the third quarter, while the COMEX price increased by 14% [5][6] - Global copper inventories were estimated at 609,000 tons, covering approximately eight days of global demand [6] Company Strategy and Development Direction - The company aims to produce 1,600,000 tonnes of copper at the lowest competitive cost per tonne, with a focus on enhancing productivity and cost efficiency [5] - Significant capital investments are planned for Peruvian projects, potentially exceeding $10.3 billion over the next decade [21] - The company is prioritizing organic growth through existing projects rather than pursuing mergers and acquisitions [42] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of copper prices despite recent U.S. tariff policy changes having limited impact [7] - The company anticipates a copper market deficit of almost 400,000 tonnes based on current supply and demand dynamics [6] - For 2026, the company forecasts copper production of approximately 911,000 tonnes, with cash costs expected to decrease due to improved production [50][51] Other Important Information - The company announced a quarterly cash dividend of $0.90 per share and a stock dividend of 0.0085 shares per common share, payable on November 28, 2025 [29][30] - Sustainability ratings have improved, with S&P Global increasing the company's rating by four points, positioning it among leaders in the mining sector [26] Q&A Session Summary Question: Expectations for cash costs in Q4 and 2026 - Management expects a decrease in cash costs for Q4 due to a partial recovery of production, estimating costs in the range of $2.15 to $2.20 per pound [32] Question: Purchases of third-party concentrate or cathodes in Q3 - The company maintained purchases of third-party concentrates to blend with its own materials but did not acquire any copper cathodes [34] Question: Company's perspective on negotiations regarding the Rio Sonora spill - Management stated that the matter is largely resolved but remains open to discussions with the government for other objectives [36] Question: Silver production guidance and potential for increased output - The company updated its silver production forecast to 23 million ounces, a 10% increase from the previous year, and is focused on maximizing output [42] Question: Impact of political changes in Peru on operations - Management reported no significant impact from the political situation in Peru and continues to monitor social circumstances [49] Question: Financing plans for the Tia Maria project - The company is evaluating financing options, including potential debt market engagement, for the Tia Maria project [58] Question: Timeline for the Los Chancas and El Arco projects - Los Chancas is expected to be the next project in execution, with Michiquillay also in line for development [59] Question: Rationale for stock dividends - The board's decision to continue stock dividends is based on maintaining cash flow while managing capital needs [81]

Financial Data and Key Metrics Changes - In Q3 2025, the company generated nearly $100 million in free cash flow, with gold and copper production reaching almost 82,000 ounces and 13.4 million pounds respectively [4] - The cash balance increased to over $560 million, allowing the company to fund the Thompson Creek Restart project while returning $32 million to shareholders through buybacks and dividends [4][19] - Adjusted net earnings for Q3 were $66 million, or $0.33 per share, benefiting from strong production and elevated metal prices [16] - Consolidated all-in sustaining costs on a byproduct basis were $1,652 per ounce in Q3, with expectations to remain near the low end of guidance for 2025 [16] Business Line Data and Key Metrics Changes - Mount Milligan produced over 32,500 ounces of gold and 13.4 million pounds of copper in Q3 2025, with all-in sustaining costs at $1,461 per ounce, a 14% increase from the previous quarter [12] - Öksüt achieved production of 49,000 ounces in Q3, exceeding expectations due to higher grades, with all-in sustaining costs at $1,473 per ounce, a 16% decrease compared to the last quarter [13][14] - The Molybdenum business unit sold approximately 3.1 million pounds at an average price of $24.42 per pound, but incurred a cash flow deficit due to spending on the Thompson Creek Restart [16][18] Market Data and Key Metrics Changes - The average realized price for gold was $3,178 per ounce and for copper was $3.73 per pound, reflecting the impact of existing streaming arrangements [16] - The company noted increased confidence in the U.S. steelmaking sector, which is beneficial for its molybdenum products [31] Company Strategy and Development Direction - The company is focused on a self-funded growth strategy, with significant investments planned for Mount Milligan and other projects, including a $186 million non-sustaining capital expenditure plan [7][8] - The Mount Milligan Pre-Feasibility Study (PFS) extended the mine life to 2045, with an average annual production forecast of 150,000 ounces of gold and 69 million pounds of copper from 2026 to 2042 [7][9] - The company is advancing sustainability initiatives, including a renewable diesel pilot project aimed at reducing greenhouse gas emissions [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for both Mount Milligan and Öksüt, with expectations for strong production in Q1 2026 [28] - The company is monitoring the favorable environment for U.S.-based mining and potential strategic deals related to molybdenum [31][32] - Management emphasized the importance of optimizing operations and enhancing shareholder value through disciplined capital allocation [20][21] Other Important Information - The company has initiated a life-of-mine optimization study at Öksüt to evaluate the asset's full potential, including residual leaching and expanding the pit [14][15] - The company has returned over $95 million to shareholders through dividends and share buybacks year-to-date [18][19] Q&A Session Summary Question: What drove the lower recovery at Mount Milligan in Q3? - Management explained that the recovery was impacted by a higher ratio of pyrite to chalcopyrite than previously modeled, which affected the recovery rates [23][24] Question: Will Öksüt see strong grades in Q1 2026? - Management confirmed confidence in achieving production guidance and expects strong production in Q1 2026 due to positive reconciliation [28] Question: Is there potential for a strategic deal with the U.S. Government regarding molybdenum? - Management acknowledged the favorable environment for U.S. mining and indicated they are monitoring potential strategic opportunities, although no current deals are in place [31][32] Question: Will the life-of-mine optimization study at Öksüt require additional permitting? - Management stated that while modifications for residual leaching would be necessary, the study primarily focuses on managing accumulated inventories without significant new permitting requirements [38] Question: What is the plan for improving recoveries at Mount Milligan? - Management outlined that the PFS aims to create a mine plan that optimizes feed blending to improve recovery rates, with expectations to start seeing improvements in Q1 of the following year [40][41]

Financial Data and Key Metrics Changes - In Q3 2025, the company generated nearly $100 million in free cash flow, with a cash balance exceeding $560 million, allowing for funding of the Thompson Creek Restart project and returning $32 million to shareholders through buybacks and dividends [4][19] - Adjusted net earnings for Q3 were $66 million, or $0.33 per share, benefiting from strong production and elevated metal prices [16] - Consolidated all-in sustaining costs on a byproduct basis were $1,652 per ounce in Q3, with expectations to remain near the low end of guidance ranges for both Mount Milligan and Öksüt in 2025 [17][19] Business Line Data and Key Metrics Changes - Mount Milligan produced over 32,500 ounces of gold and 13.4 million pounds of copper in Q3, with all-in sustaining costs increasing to $1,461 per ounce, 14% higher than the previous quarter [12][13] - Öksüt produced 49,000 ounces of gold in Q3, with all-in sustaining costs at $1,473 per ounce, 16% lower than the previous quarter, reaffirming production guidance for 2025 [13][14] - The Molybdenum Business Unit sold approximately 3.1 million pounds of molybdenum at an average price of $24.42 per pound [17] Market Data and Key Metrics Changes - The average realized price for gold was $3,178 per ounce and for copper was $3.73 per pound in Q3, reflecting the impact of existing streaming arrangements [16] - The company holds a strong financial position with total liquidity exceeding $960 million, including $85 million in equity investments [19] Company Strategy and Development Direction - The company is focused on a self-funded growth strategy, advancing projects like the Mount Milligan Pre-Feasibility Study and the Goldfield Project, which are expected to enhance long-term production capabilities [5][20] - Key investments include $114 million for a second tailings storage facility and $36 million for upgrades to increase process plant throughput [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production guidance for the remainder of 2025 and highlighted the potential for strong production in Q1 2026 due to higher grades at Öksüt [28] - The company is monitoring the favorable environment for U.S.-based mining and the potential for strategic deals related to molybdenum, a critical mineral [31][32] Other Important Information - The Mount Milligan PFS extended the mine life to 2045, with significant increases in proven and probable reserves to 4.4 million ounces of gold and 1.7 billion pounds of copper [7][9] - Sustainability initiatives include a renewable diesel pilot project aimed at reducing greenhouse gas emissions and community support programs for First Nations [10][11] Q&A Session Summary Question: Concerns about gold recovery at Mount Milligan - Management acknowledged lower recovery rates due to a higher ratio of pyrite to chalcopyrite than modeled, impacting Q3 performance, but expects to meet guidance by adjusting material processing [23][24] Question: Future production expectations at Öksüt - Management is confident in strong production going into 2026, supported by a life-of-mine optimization study to exploit accumulated inventories in heap leaching [28][29] Question: Potential for strategic deals with the U.S. government regarding molybdenum - Management noted the favorable environment for U.S. mining and is monitoring potential strategic opportunities, although no immediate funding needs exist [31][32] Question: Impact of optimization study on permitting for Öksüt - Management indicated that while modifications for residual leaching would be necessary, the study primarily focuses on managing accumulated inventories without requiring extensive new permitting [38] Question: Recovery improvements in later mine life - Management expects to enhance recovery rates through better solution management and potential modifications to permitting, with low capital requirements for significant returns [47][48]