Global mining firms report resource discoveries and contract wins

Global mining companies report significant resource developments and operational milestones across several continents.

In West Africa, Aurum Resources has identified high-grade gold intercepts, including a 3-metre hit at 80.09g/t, at its Boundiali project in Côte d’Ivoire. This discovery occurs alongside a projected increase in the country’s national gold output.

In Malawi, AuKing Mining is expanding its critical minerals portfolio through an agreement to acquire Tusker Minerals’ subsidiary, covering several rare earth and copper projects. Additionally, AuKing has commenced diamond drilling at the Tundulu Rare Earth Project, with initial holes reaching depths of 510m, suggesting the geological model is broader than previously anticipated.

In Australia, TG Metals has announced a maiden mineral resource estimate of 6.7 million tonnes at 1.2% lithium oxide at its Burmeister deposit, targeting direct shipping ore production. Meanwhile, Forrestania Resources has awarded a $27 million mining contract to MEGA Resources for its Tycho gold project in Western Australia.

In South America, Rio2 Limited reported strong June quarter production from its Fenix gold mine in Chile and Condestable copper-gold-silver mine in Peru, generating US$76.2 million in EBITDA.