Financial Data and Key Metrics Changes - The company expects EBITDA to approach $12 billion in 2026, with significant growth to over $15.5 billion on average for 2027 and 2028, driven by increased production and favorable copper prices [40][41] - Operating cash flows are projected to approximate $8 billion in 2026, growing to $11.5 billion on average in 2027 and 2028, excluding potential recovery under property and business interruption insurance coverage [41][42] Business Line Data and Key Metrics Changes - The Grasberg district's production outlook for 2026 is expected to be similar to 2025, with significant increases anticipated in 2027-2029 as operations are restored [20] - The company plans a phased restart of production blocks two and three, targeting a ramp-up in the second quarter of 2026, while repairs for production block one south are expected to take longer, with a restart targeted for mid-2027 [18][19] Market Data and Key Metrics Changes - The demand trends for copper are positive, driven by increasing requirements for electrification, technology, and energy infrastructure [39] - The company is well-positioned as a leading copper producer with large-scale current production and an attractive pipeline for future growth [39] Company Strategy and Development Direction - The company is focused on enhancing safety protocols and cave management plans following the September 8th incident, with a commitment to using learnings to prevent future occurrences [16][19] - Efforts are underway to extend PT FI's operating rights beyond 2041, with the Indonesian government expressing support for a long-term extension [39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in re-establishing large-scale production and emphasized a commitment to safety above all else [19] - The company is actively managing costs and capital expenditures, particularly in the near term, to prioritize recovery efforts [41][42] Other Important Information - The company has a policy that provides coverage for up to $700 million for underground losses, which may assist in mitigating financial impacts from the incident [41] - The investigation into the September 8th incident has been collaborative with the government, which has been involved since the first day of the incident [66] Q&A Session Summary Question: Adjustments to mine planning and operations - The company confirmed that the primary difference in the long-term plan is the sequencing of production blocks, with new processes to enhance safety being applied throughout the mine [46][47] Question: Confidence in safety for resuming mining - Management assured that cement plugs will be installed to protect against surface connections before resuming operations, emphasizing the effectiveness of current water drainage systems [56][57] Question: Government approval for restart plans - The government has been involved in the investigation and has conceptually approved the restart plans, with ongoing collaboration to ensure safety [66] Question: Capital expenditures and repair costs - The capital expenditure estimate includes a placeholder for assumed damage costs, with potential reimbursement from insurance not yet factored in [69] Question: Impact of new gold tax policies - The company has stabilized terms within its license, and most gold is contracted for at market prices locally, mitigating potential impacts from new tax policies [80] Question: Development timeline for Kuchko Liar project - The Kuchko Liar project is unaffected by the incident at Grasberg, with ongoing risk management processes in place [85]

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Viewpoint - Elliott Management has acquired a significant stake in Barrick Mining, indicating potential major changes for the company, including a possible split into two separate entities focused on different geographic regions [1][2]. Group 1: Stakeholder Actions - Elliott Management is reportedly "encouraged" by the potential breakup of Barrick Mining, which has been a topic of discussion since the departure of CEO Mark Bristow [2]. - The idea of a spinoff and possible asset sales has gained traction among analysts following recent leadership changes [2]. Group 2: Company Structure and Market Response - A split would revert Barrick to its pre-2019 structure, prior to its acquisition of Randgold [3]. - Elliott's stake is substantial enough to position it among Barrick's top 10 shareholders, alongside Capital Research & Management and Vanguard [3]. - Following the news, Barrick's NYSE shares rose by 1.4%, resulting in a market capitalization of $63.7 billion, with the stock gaining nearly 135% year-to-date [4]. Group 3: Industry Context - Elliott Management, managing approximately $76 billion in assets, has a history in the mining sector, having previously invested in Anglo American and Triple Flag Precious Metals [4].

Core Insights - Hudbay Minerals' joint venture with Mitsubishi Corporation significantly enhances the Copper World project narrative and may positively impact the company's long-term valuation, with Mitsubishi investing $600 million for a 30% stake [1][11] Company Developments - The investment from Mitsubishi allows Hudbay to defer its first capital contribution until at least 2028, reducing immediate funding needs and increasing the levered IRR to approximately 90% on remaining shares [2][11] - The partnership aligns Copper World with U.S. efforts to restore a domestic critical-minerals supply chain, with Phase 1 expected to produce up to 92,000 tons of copper annually in its first decade [3][11] - Hudbay's financing strategy involves using a "light version" of project financing, covering only one-third of total capital, while Mitsubishi's equity contribution accounts for over half of the required funding, minimizing balance-sheet risk [4][11] Industry Context - The joint venture positions Hudbay favorably compared to peers reliant on significant project-level debt or equity dilution, as it allows for a more sustainable growth model amid rising U.S. copper demand [5] - The stock has surged 89.3% year-to-date, outperforming the industry average increase of 23.8% [12] - Hudbay's forward price-to-sales ratio stands at 2.55, above the industry average and its five-year median of 1.14, indicating a premium valuation [13] Earnings Estimates - The Zacks Consensus Estimate for Hudbay's 2025 earnings suggests a 77.1% increase compared to the previous year [14] - Current estimates for earnings per share (EPS) show significant year-over-year growth, with a 77.78% increase expected for the current quarter and a 43.02% rise for the next year [15]

Vancouver, British Columbia--(Newsfile Corp. - November 18, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") is pleased to report that on November 17, 2025 it signed a binding commitment letter from Vesta Wealth Partners Ltd. ("Vesta"), an independent investment firm, on behalf of certain accounts and funds managed by it as investment advisor or investment manager, to provide the Company with a $3,600,000 term loan (the "Loan") to fund dev ...

Activist investor Elliott Investment Management has taken a large stake in Barrick Mining Corp., according to people familiar with the matter, after operational setbacks and cost blowouts left the gold producer trailing its peers as bullion prices surged https://t.co/xDliv3iEu6 ...

Tiernan Gold Corp. Announces Closing of Previously Announced Subscription Receipt Financing and Update to Proposed Qualifying TransactionNovember 18, 2025 9:11 AM EST | Source: Railtown Capital Corp.Vancouver, British Columbia--(Newsfile Corp. - November 18, 2025) - Tiernan Gold Corp. ("Tiernan"), a wholly owned subsidiary of Hochschild Mining PLC (LSE: HOC) (OTCQX: HCHDF) ("Hochschild") and Railtown Capital Corp. (TSXV: RLT.P) ("Railtown") are pleased to announce that, further to their joint ...

VAL-D’OR, Quebec, Nov. 18, 2025 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (″Cartier″ or the ″Company″) (TSXV: ECR; FSE: 6CA) is pleased to announce that metallurgical testwork program is underway on samples of the Main Sector from its Cadillac Project, located in Val-d’Or (Abitibi, Quebec). This work will be supervised by Soutex, a firm specializing in mineral processing and metallurgy, located in Quebec City (Quebec). Methodology of the Metallurgical Testwork Program A total of 388.7 kg of representative ...

Xtra-Gold Reports Initial 3D Inversion Results from High-Resolution Drone-Borne Magnetic Survey at Cobra Creek Gold Corridor Prospect, Kibi Gold Project, GhanaNovember 18, 2025 9:00 AM EST | Source: Xtra-Gold Resources Corp.Toronto, Ontario--(Newsfile Corp. - November 18, 2025) - Xtra-Gold Resources Corp. (TSX: XTG) (OTCQB: XTGRF) ("Xtra-Gold" or the "Company"), is pleased to announce initial 3D inversion modelling results from recently completed high-resolution UAV-borne (Unmanned Aerial Vehi ...

Pre-Tax NPV5% of US$3.2 billion, Pre-Tax IRR of 54% After-Tax NPV5% of US$2.1 billion, After-Tax IRR of 41% Average Annual Gold Production of 330 koz and AISC of US$877/oz in Years 1 through 5 , /PRNewswire/ - First Mining Gold Corp. ("First Mining" or the "Company") (TSX: FF) (OTCQX: FFMGF) (FRANKFURT: FMG) is pleased to announce the positive results of an updated Pre-Feasibility Study ("2025PFS") completed for its 100%-owned Springpole Gold Project (the "Project" or "Springpole") located in Ontario, C ...