Evolution Mining Expands Copper Pipeline Near Ernest Henry

Evolution Mining has entered into a binding agreement to acquire 100 per cent of Carnaby Resources through a Scheme of Arrangement valued at approximately $213 million.

The transaction will add Carnaby’s Greater Duchess copper-gold project and surrounding exploration tenure to Evolution’s portfolio, strengthening its position in the Cloncurry mining district of North West Queensland.

Located close to Evolution’s Ernest Henry operation, Greater Duchess is expected to provide an additional source of copper-rich ore that could be processed using existing infrastructure and available mill capacity.

Evolution estimates the project could support approximately 10,000 tonnes of additional annual copper production at Ernest Henry, while improving processing utilisation and the operation’s cost profile.

Key Transaction Details

• Evolution Mining will acquire 100 per cent of Carnaby Resources.
• The transaction values Carnaby at approximately $213 million.
• Carnaby shareholders will receive 0.0682 Evolution shares for each Carnaby share.
• Greater Duchess could add approximately 10,000 tonnes of annual copper production at Ernest Henry.
• The project contains a reported Mineral Resource of 29.2 million tonnes grading 1.3 per cent copper and 0.2 grams per tonne of gold.
• Evolution plans to complete an updated feasibility study within 12 to 18 months.
• Scheme implementation is targeted for mid-November 2026.

Greater Duchess Offers New Ore Source for Ernest Henry

Greater Duchess is an advanced copper-gold development at the pre-feasibility study stage.

Carnaby has reported a Mineral Resource Estimate of 29.2 million tonnes grading 1.3 per cent copper and 0.2 grams per tonne of gold. The project also has an Ore Reserve Estimate of 8.4 million tonnes grading 1.7 per cent copper and 0.3 grams per tonne of gold.

Evolution said the acquisition would allow it to combine Greater Duchess with Ernest Henry’s existing infrastructure and integrate the project into a broader regional life-of-mine plan.

The proposed development would also complement the Bert expansion project currently being delivered at Ernest Henry.

Lawrie Conway, Managing Director and Chief Executive Officer of Evolution Mining, said: “The acquisition of Carnaby represents an exciting opportunity to add the Greater Duchess project to our portfolio and further consolidate our position in the highly prospective Cloncurry region. The close proximity of Greater Duchess provides an opportunity to increase copper production at Ernest Henry, utilising latent mill capacity and existing infrastructure. The combination of Ernest Henry’s Bert project and Greater Duchess enhances our ability to continue to maximise production and growth at Ernest Henry.

“Combining Carnaby’s Greater Duchess and prospective tenement package, together with Evolution’s established operating presence in North West Queensland provides regional consolidation and has the potential to unlock value for both Carnaby and Evolution shareholders.

“Under our ownership, we will be able to best optimise and integrate Greater Duchess within our long-life Ernest Henry operations and take full advantage of the additional regional exploration potential.”

Updated Feasibility Study Planned

Following completion of the acquisition, Evolution intends to prepare an updated feasibility study for Greater Duchess while continuing to progress permitting and regulatory approvals.

The study is expected to take between 12 and 18 months and will assess the optimal mining, processing and development strategy for integrating the project with Ernest Henry.

Work will include an updated geological interpretation, the preparation of Evolution Mineral Resource and Ore Reserve statements and the development of an integrated life-of-mine plan.

Evolution will also assess potential mining and processing efficiencies, while further infill, step-out and regional exploration drilling will be used to reduce development risk and potentially increase the Greater Duchess mineral inventory.

The company expects a relatively short ramp-up period between completion of the study and the start of production, although development remains subject to regulatory approvals, permitting and a final investment decision.

Scheme Offers Premium to Carnaby Shareholders

Under the terms of the transaction, Carnaby shareholders will receive 0.0682 new Evolution shares for every Carnaby share held.

The consideration implies a value of approximately $0.77 per Carnaby share and represents a 60.4 per cent premium to Carnaby’s closing share price of $0.48 on 24 July 2026.

It also represents a 31.4 per cent premium to Carnaby’s 30-day volume-weighted average price of $0.59.

Following implementation of the scheme, Carnaby shareholders are expected to own approximately 0.9 per cent of Evolution.

The Carnaby board has unanimously recommended that shareholders vote in favour of the transaction, subject to the absence of a superior proposal and the independent expert concluding that the scheme is in shareholders’ best interests.

Carnaby directors, who collectively control approximately 7.3 per cent of the company’s shares, also intend to vote in favour under the same conditions.

Glencore Agreements Restructured

Existing tolling and offtake agreements between Carnaby and Glencore will be terminated as part of the proposed transaction.

Evolution said this would support the integration of Greater Duchess into Ernest Henry and enable processing synergies across the combined operation.

Any concentrate produced from Greater Duchess ore will instead be sold to Glencore under Evolution’s existing Ernest Henry offtake arrangements.

Evolution and Glencore have also entered into a separate binding agreement covering the toll treatment of third-party ore through the Ernest Henry processing plant.

Transaction Subject to Shareholder and Regulatory Approval

The acquisition remains subject to Carnaby shareholder approval, Australian Competition and Consumer Commission merger clearance, court approval and other customary conditions.

The first court hearing is expected in mid-September 2026, followed by the distribution of the scheme booklet later that month.

The shareholder meeting is expected between late October and early November, with implementation targeted for mid-November 2026.

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Groundwater Milestone Supports Project Development

EVelution Energy has completed a hydrogeological programme confirming substantial groundwater resources beneath the site of its proposed cobalt processing facility in Yuma County, Arizona.

The company said the findings de-risk the approximately US$450 million project by validating one of its key operational requirements, while also supporting future expansion beyond the plant’s initial production capacity.

The drilling programme, carried out under the supervision of BasinWells Associates, included groundwater sampling, aquifer testing and hydrogeological analysis. According to the company, the results confirmed aquifer capacity capable of supporting the facility throughout its planned operating life.

Navaid Alam, President and CEO of EVelution Energy, said: “The successful confirmation of substantial groundwater resources beneath the project site removes another critical development risk and brings us one step closer to construction of the first solar-powered commercial-scale cobalt processing facility in the United States.

“From the outset, we have designed this project to combine domestic critical minerals processing with responsible environmental stewardship through advanced water treatment, extensive water recycling, closed-loop operations and modern environmental controls. This milestone further strengthens the technical foundation of the project as we continue advancing toward construction.”

Key Achievements

• Groundwater Confirmed: Hydrogeological testing confirmed sufficient groundwater resources to support the planned facility throughout its operating life, including potential future expansion.
• Water-Efficient Design: The plant is being engineered with a closed-loop water management system that will recycle around 70 per cent of process water, with no on-site process-water discharge or tailings storage.
• Project De-Risked: Confirmation of groundwater availability removes a key development risk and supports ongoing engineering, permitting, financing and construction planning.
• Critical Minerals Investment: The approximately US$450 million project aims to establish the first commercial-scale, solar-powered cobalt processing facility in the United States, strengthening domestic critical minerals supply chains.
• Construction Progress: Development continues following the start of construction on a 28 MW solar facility, with the cobalt processing plant expected to begin construction in 2027 ahead of planned commercial operations in 2029.

Closed-Loop Water System Targets Lower Consumption

Water availability remains a significant consideration for mining and minerals processing projects, particularly in arid regions. EVelution Energy said its processing facility has been designed to minimise freshwater demand through a closed-loop water management system.

The company expects to recycle and reuse approximately 70 per cent of process water while eliminating on-site process-water discharge and tailings storage. Process residues will instead be treated and disposed of at licensed off-site facilities.

Net freshwater consumption is expected to average around 408 acre-feet per year, which the company said is broadly equivalent to the annual irrigation requirements of around 70 acres of farmland in Yuma County.

Groundwater testing also identified elevated salinity levels, although EVelution Energy said its planned water treatment systems are designed to use this resource, reducing reliance on higher-quality freshwater supplies.

Project Advances Towards Construction

The groundwater programme will support completion of the project’s Bankable Feasibility Study, including detailed design of production wells, water treatment infrastructure and recycling systems.

The proposed facility is intended to become the first commercial-scale, solar-powered cobalt metal and cobalt sulfate processing plant in the United States, supporting domestic critical minerals supply chains serving the aerospace, defence, electric vehicle and advanced manufacturing sectors.

The project has already reached several development milestones, including the start of construction on a 28 MW solar energy facility, progress on long-term cobalt feedstock and offtake agreements, and the development of a diversified financing strategy involving private investment and export credit initiatives.

Construction of the processing facility is expected to begin in early 2027, with commercial production targeted for 2029.

Economic Benefits for Arizona

According to an independent economic impact assessment cited by the company, the project is expected to support more than 6,200 direct, indirect and induced jobs while generating approximately US$1.2 billion in annual economic activity.

The study also estimates the facility will contribute around US$326 million in annual household earnings, with most of the economic benefits expected to be realised within Arizona, particularly in rural Yuma County.

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Technical Studies Support Mine Development

Riversgold has received completed technical reports covering geotechnical, hydrology, hydrogeology, soil and waste characterisation for the proposed Northern Zone open pit operation, located 25 kilometres east of Kalgoorlie.

The studies form part of the work being undertaken by ResourcesWA to prepare the project’s Mine Development and Closure Plan and Native Vegetation Clearing Permit applications.

According to the company, the reports identified no material issues that would affect the proposed mining operation.

Geotechnical Assessment Confirms Pit Stability

Geotechnical investigations concluded that the proposed waste dump and open pit designs meet the required stability criteria.

The waste dump design demonstrated high factors of safety and a very low probability of failure, while pit slope assessments confirmed factors of safety greater than 1.33 at both bench and overall inter-ramp scales.

Riversgold said the proposed pit configuration is considered geotechnically stable under current site conditions.

Groundwater Study Indicates Low Operational Risk

Hydrology and hydrogeology studies found the average groundwater table to be approximately 37 metres below the surface, with low permeability across the project area.

The company said groundwater inflows are unlikely to present a material operational or geotechnical risk to the proposed mine.

Flood modelling is continuing, with preliminary work indicating that only minor culvert infrastructure may be required along access routes.

Environmental Studies Highlight Low Acid Drainage Risk

Soil and waste characterisation studies concluded that waste rock is predominantly non-acid forming and has substantial acid-neutralising capacity.

According to Riversgold, the combination of low sulphur content and elevated pH values indicates a low potential for long-term acid generation, resulting in minimal risk of acid mine drainage.

The review of geological drillhole data also found no mineralogical or alteration features associated with fibrous minerals, indicating a low likelihood of fibrous material occurring within the project area.

Permit Applications Progressing

Riversgold said preparation of the Native Vegetation Clearing Permit application is in its final stages and is expected to be submitted in the coming weeks following the incorporation of minor outstanding inputs.

The Mine Development and Closure Plan is approximately 60 per cent complete and remains on schedule for submission to the Western Australian Department of Mines, Petroleum and Exploration (DMPE).

“To have these final reports back on soils, geotechnical and water studies for our Kalgoorlie Gold Project, showing no material issues is a great result. We continue to tick the boxes necessary for the submission of the NVCP and MDCP, which will then provide the operating permit for the start of mining operations,” said Edward Mead, Technical Director of Riversgold.

“We continue to get much closer to breaking ground at Northern Zone, and I look forward to updating shareholders on progress as we move forward.”

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Long-Term Offtake Supports Georgia Lake Development

Rock Tech Lithium has entered into a binding offtake agreement with Geneva-based commodity trading house Transamine SA covering spodumene concentrate from its wholly owned Georgia Lake project in Ontario.

The agreement establishes a long-term commercial pathway for the project’s planned production, with deliveries expected to begin in 2028, subject to contractual provisions and any adjustments following completion of the definitive feasibility study.

The initial agreement runs for seven years, with the option to extend annually for up to five additional years by mutual agreement.

Production Ramp-Up Planned From 2028

Under the agreement, Transamine will purchase 50,000 dry metric tonnes of spodumene concentrate during the first year of deliveries, increasing to 100,000 dry metric tonnes annually thereafter, subject to a 10 per cent tolerance in favour of Rock Tech and the agreement’s terms and conditions.

The production volumes and delivery timeline will be reviewed and may be adjusted following completion of the definitive feasibility study.

Pricing will be based on the Fastmarkets spodumene concentrate benchmark, adjusted for delivered grade, and includes a qualified floor price subject to specified resale market, inflation adjustment and project financing provisions.

Mine-To-Converter Strategy Retained

The agreement has been structured to preserve Rock Tech’s integrated Ontario mine-to-converter strategy.

If the company requires spodumene concentrate for its planned Red Rock Lithium Converter, the agreement can be amended to supply battery-grade lithium hydroxide monohydrate and/or battery-grade lithium carbonate instead.

Any amendment would establish product specifications, pricing, delivery schedules and other commercial terms, while maintaining Transamine’s take-or-pay commitment for the revised products.

Rock Tech said the arrangement allows it to market spodumene concentrate while retaining the flexibility to supply battery-grade lithium chemicals to battery and cathode manufacturers as its conversion capacity is developed.

US$80 Million Prepayment Facility

The agreement also provides a framework for a development prepayment facility of up to US$80 million to support the Georgia Lake project.

The proposed facility would carry interest at the three-month CME Term Secured Overnight Financing Rate (SOFR) plus 2.95 per cent per annum, with repayment through concentrate deliveries over a 24-month period beginning with first delivery.

The final amount and terms of the facility will be agreed following completion of the definitive feasibility study. Access to the financing remains subject to several conditions, including project equity financing, regulatory approvals, satisfactory technical and financial due diligence, and the resolution of permitting, environmental and community requirements.

Supporting Domestic Critical Minerals Processing

“This agreement demonstrates how Rock Tech is turning critical minerals ambition into execution,” said Mirco Wojnarowicz, Chief Executive Officer of Rock Tech Lithium.

“It provides a long-term, commercial foundation for the Georgia Lake mine’s future production, strengthens our financing pathway, and – together with the prepayment facility – brings us another step closer to building the integrated mine-to-converter platform with the flexibility to convert raw material into battery-grade lithium chemicals through our Red Rock Lithium Converter.

Together with the prepayment facility, the agreement brings us another step closer to building an integrated mine-to-converter platform and supporting a stable, secure supply of battery-grade lithium for Canada and its allies.”

Building a Regional Lithium Supply Chain

Rock Tech said the agreement supports its strategy to establish an integrated lithium supply chain in Ontario by linking mining with domestic lithium conversion.

The company plans to source raw materials for its converter projects from ESG-compliant suppliers, including its Georgia Lake project, while developing the operation in partnership with local Indigenous communities. It also intends to incorporate recycled materials into its supply chain as part of its circular economy strategy.

The agreement provides a commercial foundation for Georgia Lake’s planned production while preserving the flexibility to supply battery-grade lithium materials to support the growing North American battery manufacturing sector.

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Partnership Expands Open Mine Automation Options

Hitachi Construction Machinery and Pronto have signed a memorandum of understanding (MoU) to develop open mine automation solutions designed to improve productivity, safety and operational flexibility across mining operations.

The partnership brings together Hitachi Construction Machinery’s expertise in mining equipment and operations with Pronto’s OEM-agnostic Autonomous Haulage System (AHS), creating automation solutions that can be adapted to different mine sites while supporting existing equipment from multiple manufacturers.

The collaboration aims to provide mining operators with a broader range of automation options as they respond to changing business conditions and operational challenges.

Addressing Productivity and Labour Challenges

The companies said mining operators are increasingly looking for practical and scalable automation technologies that improve productivity and safety while helping address labour shortages.

They also highlighted growing demand for open automation platforms that can be deployed according to the specific operating conditions of each mine, rather than requiring operators to rely on a single technology provider or equipment ecosystem.

Hitachi Construction Machinery and Pronto said an open ecosystem that combines expertise in mining operations, equipment, digital technologies and automation will enable solutions to be tailored to individual customer requirements.

Combining Equipment Expertise with Autonomous Haulage

Under the partnership, Hitachi Construction Machinery will contribute its experience in supplying mining equipment and supporting mining operations worldwide, together with its global customer base.

The collaboration also aligns with the company’s planned transition to the LANDCROS brand in April 2027, which will focus on connecting products, technologies and partners through an open co-creation approach.

Pronto will provide its OEM-agnostic autonomous haulage technology, which retrofits onto existing haul trucks from different manufacturers and has been deployed across commercial mixed-fleet mining operations on three continents.

The company said its autonomous haulage systems are designed to support operations ranging from regional quarries to ultra-class, deep-pit mines.

Industry Collaboration Supports Flexible Automation

Masafumi Senzaki, President and Executive Officer of Hitachi Construction Machinery, said: “For decades, we have worked alongside mining customers around the world and have developed a deep understanding of their diverse needs and the challenges they face.

“Through our collaboration with Pronto, we will combine Hitachi Construction Machinery’s equipment expertise with advanced automation technologies to provide customers with greater flexibility and options in adopting automation solutions.

“This partnership represents an important step in realizing the desire embodied in the ‘O’ of LANDCROS—to openly co-create new businesses and value with customers and partners across the mining industry, and to grow together.”

Anthony Levandowski, Chief Executive Officer and Co-Founder of Pronto, said: “Mine operators have been clear: they want automation that works with the fleets they already own, not another closed, single-vendor ecosystem.

Pronto has proven OEM-agnostic autonomous haulage at commercial scale, and Hitachi Construction Machinery brings decades of mining equipment leadership, a global customer base, and an open autonomy vision that we share.

Together, we can give every mining operation a practical, affordable path to autonomy.”

Focus On Customer Choice and Operational Flexibility

The partnership is intended to create new value for mining customers by combining expertise in mining operations, equipment and automation technologies.

By focusing on open, flexible automation, Hitachi Construction Machinery and Pronto aim to support mining companies seeking to modernise operations while retaining the freedom to deploy technologies that best suit the requirements of individual mine sites.

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AI and Fleet Management Drive Mining Performance

Mining technology company MaxMine has announced its expansion into fleet management, introducing new business intelligence and AI-powered decision support capabilities aimed at helping mine operators improve productivity, reduce operational variability and lower cost per tonne.

The expansion builds on more than a decade of experience supporting mining operations and positions the company within a fleet management sector forecast to exceed USD$70 billion by 2030.

The new fleet management system (FMS) combines trusted operational data with real-time insights to help mining companies strengthen day-to-day decision-making without increasing operational complexity.

Shaun Mitchell, CEO of MaxMine, said: “This expansion is a natural next step for MaxMine. The high-resolution data we hold and the capabilities we’ve built are exactly what’s needed to solve the biggest challenges facing mine sites today.

“Mining companies are increasingly investing in operational technology, recognising the critical role it plays in improving mining performance. Fleet management and machine guidance are becoming strategic priorities, as operators look for greater visibility, better decision-making and improved productivity across their sites.

“At the same time, AI is creating new opportunities to turn operational data into real-time insights. Rather than treating fleet management, business intelligence and AI as separate technologies, we see them coming together to help mining companies make better decisions and continuously improve their performance.”

High-Precision Machine Guidance Added Through Partnership

As part of the expansion, MaxMine has partnered with Swedish machine control provider L5 Navigation to introduce Machine Guidance, a high-precision Global Navigation Satellite System (GNSS)-based solution for mining equipment.

The technology enables operators to determine the precise location of drills, excavators, dozers and wheel loaders, while providing real-time visualisation of maps, mining surfaces and ore blocks within a synchronised 3D environment.

The Machine Guidance capability has been integrated into Pulse, MaxMine’s fleet management platform, providing real-time visibility of fleet location, payload, production cycles and operational status.

Real-Time Data Supports Continuous Improvement

Data captured through the fleet management platform will also feed into MaxMine’s Impact solution, where it is used to support targeted operational improvement programmes across production, operator performance, safety, road conditions and asset health.

The combination of fleet management, machine guidance and AI-enabled analytics is designed to help mining teams make faster, more informed operational decisions while improving overall site performance.

Building On Operational Experience

The expansion follows more than 10 years of mining technology development, during which MaxMine has completed more than 230 incident investigations, analysed over 14 million operational hours and tracked and optimised more than 580 million tonnes of material annually.

According to the company, these insights have supported productivity improvements, enhanced mine safety and strengthened sustainability outcomes across customer operations.

Machine Guidance is available immediately, with MaxMine also set to showcase its latest technologies at the Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia, from 3–5 August.

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Exploration Programme Gains Momentum with Expanded Drilling Capacity

Nevada King Gold Corp. has secured approval from the Bureau of Land Management (BLM) for the fifth modification to its Plan of Operations at the company’s wholly owned 130 square kilometre Atlanta Gold Mine Project in eastern Nevada.

The approval authorises 78 additional reverse circulation (RC) drill sites and 404 rotary air blast (RAB) drill sites, allowing the company to expand exploration across several priority target areas while increasing drilling capacity through the mobilisation of a third drill rig.

Approval Supports Broader Exploration Strategy

The latest permit enables Nevada King to follow up on previously identified mineralised targets and test extensions across the Atlanta property. It builds on the Notice of Intent permit granted for drilling at the Western Rim target, announced in April this year.

The newly approved drill sites are primarily located within the Atlanta South, Silver Park and Western Rim target areas.

To accelerate exploration activity, the company is mobilising an additional RC drill rig to join the RC and RAB rigs already operating at the site. Both RC rigs will operate continuously on two 12-hour shifts, significantly increasing the pace of drilling.

Fully Funded 40,000 Metre Drill Programme

Nevada King said it remains fully funded to complete its 40,000 metre Phase four RC drilling programme, supported by approximately CAD$18.1 million in cash and equivalents.

Around 12,000 metres of the programme have already been completed.

John Sclodnick, CEO of Nevada King Gold Corp., said: “Our team is excited to accelerate exploration at Atlanta as we return to several areas where prior drilling encountered mineralized gold and silver intercepts. We continue to experience tremendous benefits from our Nevada location, not just from the compelling mineral endowment, but also from the clear, predictable permitting pathway.

Our fifth consecutive modification to the Plan of Operations demonstrates this permitting efficiency as well as the trusted relationship we have built with our regulators. We greatly appreciate the BLM’s continued support and its thorough, efficient review, which was completed just two months after our formal submission.”

Drilling Methods Target Faster Resource Definition

Nevada King said the combination of RAB and RC drilling is supporting a more efficient exploration programme.

RAB drilling is being used as a rapid, lower-cost method of drilling through overburden and testing bedrock to identify mineralisation and tracer elements. RC drilling is then used to investigate targets identified during earlier drilling and exploration activities with the objective of intercepting economic mineralisation.

The latest Plan of Operations modification covers 21.1 acres of additional disturbance, increasing the project’s total approved disturbance area to 73.4 acres.

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Hermosa project reaches major permitting milestone

South32 has received the U.S. Forest Service’s Final Record of Decision (ROD) for its Hermosa project in Arizona, completing the federal National Environmental Policy Act (NEPA) process required to develop the mine on adjacent federal land.

The approval allows the company to move into the next phase of the project by constructing key infrastructure beyond its privately held land, including a primary access road, a secondary dry-stack tailings facility and a connection to the power network.

Infrastructure development moves forward

Completion of the federal permitting process enables South32 to progress essential infrastructure needed to support the mine’s development and future operations.

The project will include a surface footprint of approximately 750 acres (around 300 hectares) and has been designed to use approximately 90 per cent less water than other mines in the region, according to the company.

Environmental review shapes project design

South32 said years of environmental assessment, agency review, Tribal consultation and community engagement helped refine the project’s design.

“From the beginning, we designed Hermosa to be a different kind of mine, and the federal review process helped make it even better,” said Pat Risner, President, Hermosa, South32.

“Years of agency review, Tribal consultation and community engagement strengthened environmental protections, informed project refinements and shaped a project that can transform the local economy. We are grateful to everyone who participated throughout the process and look forward to continuing that engagement as we move from construction and development into operations.”

During the review process, South32 redesigned elements of the project, including modifying the tailings facility to avoid sensitive plant species and redesigning the access road to reduce traffic through the nearby town of Patagonia. The company also committed to more than 135 conservation, mitigation and monitoring measures, many of which will become federally enforceable.

FAST-41 designation supports permitting process

Hermosa was the first mining project to be covered under the FAST-41 federal programme, which coordinates environmental reviews for major infrastructure developments in the United States.

The review included more than 120 days of public consultation, involvement from six federal and state agencies, and consultation with 12 Tribes with historic connections to the region.

Economic benefits for Arizona communities

Once operational, Hermosa is expected to create up to 900 jobs during peak operations while supporting long-term investment across surrounding communities.

“The Final Record of Decision for Hermosa is another important milestone for Nogales. It reflects years of collaboration to ensure the Hermosa project is developed in a way that balances economic opportunity with environmental stewardship,” said Nogales Mayor Jorge Maldonado.

He added that South32’s investment extends beyond the mine itself, highlighting initiatives such as the Centro remote operating centre in Nogales.

“Hermosa has the potential to create new opportunities to support good-paying jobs and help ensure that more of our young people can build successful careers right here at home, and we appreciate South32’s commitment to developing Hermosa responsibly while creating opportunities for local families, students and businesses.”

Supporting the next generation of mining

South32 said the Hermosa project forms part of its strategy to responsibly develop the minerals and metals needed for the global energy transition while delivering long-term economic and community benefits.

The company operates mining and metals assets across the Americas, Australia and Southern Africa and continues to invest in the responsible development of its next generation of mining projects.

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Merger proposal values Vault at A$5.6 billion

Under the proposed scheme of arrangement, Genesis will acquire 100 per cent of Vault’s ordinary shares, creating a combined business with projected annual gold production of approximately 600,000 to 700,000 ounces, 33.6 million ounces in Mineral Resources and 9.4 million ounces in Ore Reserves.

Under the terms of the scheme, Vault shareholders will receive 0.7629 new Genesis shares and A$0.475 in cash for each Vault share held at the scheme record date. Based on Genesis’ share price at the time the proposal was announced, the offer implies total consideration of A$5.274 per Vault share, representing a 15.7 per cent premium to Vault’s closing share price and valuing the company at approximately A$5.6 billion.

Following completion of the transaction, Genesis shareholders are expected to own approximately 59.8 per cent of the enlarged company, with Vault shareholders holding the remaining 40.2 per cent on a fully diluted basis.

Combined business targets scale and operational synergies

The merged group is expected to have a pro forma market capitalisation of approximately A$12.6 billion, net cash of A$611 million and liquidity of A$1.4 billion.

According to Genesis, the combined company will become a leading gold producer in the Leonora-Laverton gold district, with 100 per cent ownership and control of its operating assets. The company also estimates post-tax, undiscounted synergies of approximately A$2.0 billion, including around A$1.5 billion over 10 years, driven by the proximity of the companies’ operations at Leonora and Bardoc-Mount Monger.

Genesis said it intends to release a new strategic plan during the first half of 2027 following completion of the merger and strategic review, including optimisation of ore and mills and a review of the merged group’s asset portfolio.

Leadership structure outlined

If the transaction proceeds, Russell Clark will become Non-Executive Chairman of the merged group, Raleigh Finlayson will be appointed Managing Director, while Matt Nixon and Morgan Ball will continue as Chief Executive Officer and Chief Financial Officer respectively.

The board will comprise four Genesis directors and three Vault directors.

Boards back proposed transaction

The Vault Board has unanimously recommended that shareholders vote in favour of the scheme, subject to there being no superior proposal and an independent expert continuing to conclude that the transaction is in the best interests of Vault shareholders. The Genesis Board has also unanimously endorsed the proposal.

Raleigh Finlayson, Executive Chair of Genesis Minerals Limited, said:

“This transaction represents a truly logical combination of assets to create the third largest Australian gold producer, and represents a genuine win-win for all shareholders and stakeholders, unlocking significant unique synergies through the optimisation of complementary assets. We are creating a strong platform for continued growth and shareholder returns”

Luke Tonkin, Managing Director of Vault Minerals Limited, said:

“Genesis’ proposal reflects the quality of Vault’s portfolio and the strategic value of our Leonora assets. The combination of complementary operations and infrastructure in the Leonora district is expected to enhance scale and unlock value that would be more difficult to realise on a standalone basis. The Vault Board believes the transaction delivers a compelling outcome for shareholders, offering an attractive premium and exposure to the value creation potential of the combined group.”

Scheme subject to approvals

The proposed transaction remains subject to several conditions, including approval by Vault shareholders, an independent expert concluding that the scheme is in the best interests of shareholders, regulatory approvals, court approval and the absence of material adverse changes affecting either company.

Vault expects to distribute the scheme booklet during August or September 2026, with the scheme meeting and implementation targeted for completion later in the year, subject to approvals.

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REDEFINING MINING BY CENTRALISING SUCCESS

In 2017, Keaton Turner identified a significant gap in the contract mining space and envisioned a full-service, nationwide contractor that prioritizes relationships alongside competitive pricing.

He founded Turner Mining Group (Turner) with a guiding principle: “Mining works better when people are treated like people”.

This ethos continues to drive the company’s operations today, consequently setting the stage for a new era in mining.

Moreover, Turner’s straightforward belief is that mining is more effective when individuals are treated with respect rather than as mere numbers on a spreadsheet, and that teams perform better when valued, leaders are accountable, and partners are fully informed about what is happening on their site each day.

This principle guided the company’s first contract and remains a core value.

At the time of Turner’s inception, the contract mining space was dominated by local and regional operators, and mine owners were stitching together multiple contractors site by site.

“Keaton’s vision was to be a coast-to-coast, full-service mining-focused contractor that could serve clients across all of their operations while still competing in terms of price with local operators,” Tucker Jensen, Vice President of Operations, opens energetically.

“People come first – production follows. From that founding, Turner has grown into a truly national provider. As the company grew, it undoubtedly became evident we weren’t only filling a service gap. We subsequently realized that the way we performed the services also differentiated us from our competitors.”

Furthermore, Turner’s production-oriented operating philosophy and first-life asset strategy are deeply rooted in the company’s values: a heart for people, a mind for innovation, an eye for safety, and an attitude for excellence.

“Our clients noticed they were meeting production targets, improving safety metrics, and taking advantage of operational flexibility that local contractors couldn’t provide, whether adjusting equipment, renegotiating project scopes, or scaling production up or down as the mine plan evolves,” he continues.

TRANSFORMING PARTNERSHIPS

At its core, Turner’s comprehensive service offering is contract mining.

Meanwhile, the company also provides drill and blast, pioneering and overburden stripping, large civil earthworks for mine construction and leach and tailings projects, rehandle support, and technical support for mine design, planning, scheduling, and budgeting.

“We bring our mining-focused expertise to the full lifecycle of the mine, not just one slice,” urges Jensen.

Headquartered in Bloomington, Indiana, with additional offices and resources supporting its operations across North America, Turner’s current and historical portfolio spans 100 completed mining projects in gold, platinum, coal, copper, aggregates, and industrial minerals.

Currently, the company provides contract mining services in Idaho, Nevada, Arizona, Texas, and Vermont. It operates more than 350 assets across North America, centered around a primary mining fleet consisting of rigid-frame and articulated haul trucks in the 45 ton (t) to 100 t range, hydraulic shovels, large production wheel loaders, production excavators, and blasthole drills.

“The fleet is predominantly new or low-hour, with most units in the 2022 – 2026 model range, and around 80 percent Turner-owned with strategic lease or rental purchase option (RPO) arrangements in place to flex capacity where required.

“A dedicated asset plan backs every project, and our standard is straightforward: equipment that works safely and efficiently, not sitting idle or in pieces in a boneyard,” informs Jensen.

Additionally, to further enhance collaboration and success, Turner employs an innovative approach to its performance-partnership models.

As a result, each model’s design aligns incentives for both the client and the contractor and deliberate strategies developed during the contracting stage influence both parties to drive results together.

“To yield successful outcomes, we embed our technical staff with the client’s engineering and planning teams to equally understand the key drivers of their business. The commercial and operational teams then draft a contract based on this.

“Common styles like alliance, gainshare/painshare target cost, and flat rate generally serve as the foundational structure, but the specifics of the problem being solved and the needs of the business drive customizations that extract real value,” Jensen highlights.

Unlike the more commonplace unit-rate, lump-sum, or time-and-materials contracts, Turner’s engagement with clients as a partner builds stronger relationships between the companies and results in better safety, production, and financial performance.

“Through shared dashboards, joint financial and production reviews, and active mine planning and design, we intend to become a department of your organization with the same goals – rather than a simple contractor focused on maximizing billables. In our preferred contract styles, when our client wins, we win,” Jensen details.

A DRIVE FOR UNSTOPPABLE GROWTH

Certain strategies have contributed to Turner doubling in size year after year, a trajectory it plans to continue driven by a confluence of market forces and intentional internal strategies.

“The US is experiencing a genuine shift in public support for responsible domestic mining, especially in critical minerals, which is driving new project development and extending the life of existing operations,” reveals Jensen.

Ultimately, this trend works in tandem with mine owners’ increasing preference for the contract mining model.

“By partnering with us, operators offload most of their management complexity, improve the likelihood of hitting project goals, and redeploy capital that would otherwise be tied up in equipment procurement, converting a large capital decision into a manageable operating expense.

“Our strategy for growth is also laser-focused on specific clients and operations. We conduct deep research and engage in networking to identify the projects that best fit our core capabilities, and where two company cultures and philosophies are likely to result in a true operational partnership,” Jensen expands.

Once Turner establishes alignment and secures an initial engagement with its clients, the results naturally lead to discussions about their other operations.

“The mining industry is smaller than it looks, and establishing a reputation for safety, efficiency, and success produces opportunities.”

Indeed, two internal capabilities enabled the company to scale posing a challenge for other contractors.

“Our talent engine, through Turner, and Turner Staffing Group, handles over 45,000 applications annually from qualified candidates, enabling us to mobilize skilled crews efficiently. Combined with our advanced operator training program, we are committed to excelling in talent management.

“We also have a fleet of over 350 assets and strong original equipment manufacturer (OEM) relationships, allowing us to deploy equipment quickly. We see positive trends ahead, as the commodity cycle, domestic supply chain priorities, and investment in critical minerals indicate industry growth, positioning our clients for organic expansion,” explains Jensen.

FROM CHALLENGES TO COLLABORATIONS

As Turner nears its 10th anniversary, it has learned key lessons to continue its journey of success.

“The most important lesson came early, and it was obvious from the work itself. Our first engagements were stripping, crushing, and overburden removal, which clarified that our partners didn’t need a contractor who simply completes tasks,” Jensen reflects.

“They need an operator who understands how planning, production, equipment, and crews function as a single system. That realization shaped how we built the company.”

As such, Turner’s experience grew alongside its scope – what started as contract services expanded into comprehensive mining services.

“As we expanded, our working methods evolved. We stopped operating on the edges of projects and started integrating ourselves within operations.

“Today, our teams plan alongside site leadership, operate equipment alongside client crews, and carry shared responsibility for daily production,” Jensen divulges.

In this way, Turner progressed from completing tasks to operating mines, embedding teams into operations, opening its planning and reporting to partners in full, and building relationships around reliability rather than contract cycles.

“We continue to expand full-scope capabilities, developing the next generation of leaders from within our own crews and integrating more deeply into the operations of the partners who trust us with their production,” he notes.

TRANSFORMING DATA INTO DECISIONS

For Turner, the difference between a well-managed mine and a poorly managed one lies not in the equipment but in the quality of decisions made with the information available.

Every shift produces data on machine performance, production rates, fuel consumption, and resource utilization, and most contractors let that data go unused. However, Turner’s technology investments are designed to close that gap.

“High-precision GPS and Fleet Management Systems (FMS) give us real-time visibility into machine location, utilization, and performance.

“Building on the OEM and FMS toolsets, we developed a proprietary production-tracking platform that captures site data,” Jensen outlines.

Furthermore, integrations with workforce management and financial resource planning tools give leadership access to Turner’s data through real-time dashboards and reporting, each calibrated to the right level of detail and frequency for each audience to drive data-driven decisions.

“We have created a field-deployable learning management system (LMS) that enhances training. Operators can access tablet-based instruction in both field and classroom settings, using drone and time-lapse footage for realistic scenarios. Built-in competency tracking connects to a career pathing framework, enabling proactive career development,” Jensen sets out.

“Looking ahead, we’re actively exploring new offerings in machine control, coach-in-the-cab feedback tools, and autonomy. Philosophically, we prioritize optimizing the boring and impactful aspects of our work over silver-bullet technology implementations.”

MINING WITH PURPOSE

The US mining industry is unified in its mandate to extract resources responsibly. As one of the more vocal and socially active contractors in the country, Turner is proud to demonstrate the right way to mine resources needed to support modern society.

Mining and similar industries impact the environment and local communities, that concrete practices can help manage, minimize, and mitigate.

“Our equipment strategy brings the latest in emissions-control and fuel-efficiency technologies to the entire fleet. Spill prevention planning and a culture of 100 percent incident reporting help us prevent and address adverse events,” Jensen prides.

“Dust control and storm water management are core responsibilities at our operations to reduce or eliminate contamination, and our dust monitoring and hearing conservation programs support the health of our operators and provide insight into the health of the systems that control exposure to these hazards.”

Beyond the physical environment, Turner prioritizes supporting local communities.

“With an initial goal to secure a more than 70 percent local workforce, and achieving more than 90 percent in just the first year, we are providing careers and specialized training to members of the community.

“Our supplies and consumables are sourced from local vendors where possible, and we encourage services that were once outsourced to be developed locally.”

In addition, the company makes direct investments in the community through donations and support for employee initiatives, including youth sports programs and fundraisers, educational outreach, and charitable sponsorships.

“Turner is proud to support and reinvest in the places we work,” Jensen emphasizes.

NAVIGATING THE US LANDSCAPE

With the North American mining industry at an inflection point, the challenges are as significant as the opportunities.

The most immediate structural challenge is permitting. The US sits atop world-class mineral resources, but decades of regulatory complexity and legal exposure have made it exceptionally difficult to bring new mines into operation or expand in a timely way.

“Permitting timelines that stretch five to 10 years shift investment and production to other countries, often with lower environmental and labor standards,” Jensen affirms.

“For Turner specifically, policy reform creates new project opportunities and extends the horizon on existing ones, and we are watching the discussions at the federal level closely and positioning accordingly.”

The second challenge is public perception – a fundamental disconnect between what the mining industry does and how the public understands it remains.

“The materials required to build tomorrow’s energy infrastructure, electric vehicles, and new technology all come from the ground. Mining is a prerequisite, not the enemy, of progress,” he declares.

“Turner has maintained an active voice on this matter through social media and partnerships with advocacy organizations because we believe the industry needs to earn its own social license.”

The third challenge is the workforce – participation in the trade industries has declined over a generation.

“The mining industry offers stable, high-paying jobs – yet young people often overlook a rewarding career full of impactful experiences due to the narrative that success requires college and white-collar work.

“We aim to raise awareness about mining as a career option and provide training and development opportunities to help individuals enter the field.

TURNER MINING GROUP PARTNER

The post Turner Mining Group : Redefining Mining by Centralizing Success appeared first on Mining Outlook.

ONTARIO’S MINE OF TOMORROW

Canada has always been, and still is, one of the most exciting and dynamic spaces for mining in the entire world. 

Its robust mining ecosystem, especially in Ontario, a top-rated jurisdiction for mining investment, and more specifically the Sudbury region, fosters collaboration between the province’s major mining players and visionary leadership to share infrastructure and expertise. 

The regulatory environment and commitment to sustainable growth make the country a premier destination for future mining investments. 

“It obviously differs province by province, but I am personally energized by how our industry is becoming a cornerstone of both regional resilience and global technological progress,” opens Marek Bednarz, President and CEO of KGHM INTERNATIONAL LTD. (KGHM INTERNATIONAL). 

Headquartered in Vaughan, Ontario, KGHM INTERNATIONAL serves as the global growth engine of Polish multinational mining corporation, KGHM Polska Miedź S.A. (KGHM), a leading copper and silver producer globally. 

“Canada’s focus on its Critical Minerals Strategy aligns perfectly with KGHM’s global goals to enable the energy transition through copper, nickel, and other metals that we produce,” Bednarz observes. 

KGHM INTERNATIONAL has a significant footprint across North America, with two operating open-pit mines in the US – the Carlota Mine in Arizona and the Robinson Mine in Nevada. 

In Canada, the KGHM subsidiary owns two projects – Ajax in British Columbia, which was the first deposit purchased by KGHM in Canada, and Victoria in Ontario’s Sudbury Basin, known as the world’s nickel capital. 

“Our Victoria project in the Sudbury region of Ontario is where our Canadian presence is most prominent,” informs Bednarz. 

ADVANCED EXPLORATION 

The mining sector is an important element of the Canadian economy, and that importance is even more visible in Ontario, where KGHM INTERNATIONAL is very excited about the development of the Victoria project. 

“It’s a strategic asset for KGHM; we’re currently reaching a depth of over 1,400 meters (m) in sinking the shaft,” Bednarz tells us. 

“The horizontal drilling we started at the end of Q1 this year is a milestone for the project,” he acclaims. 

Work on the Victoria project is conducted by DMC Mining Services (DMC), a KGHM INTERNATIONAL subsidiary and one of North America’s premier underground contractors. 

DMC has been responsible for completing the surface setup and is conducting the diamond drilling program that was recently started. 

“The DMC team is also responsible for the excavations on the ‘milestone levels’ to set it up so we can place the drills and complete further horizontal drilling to better identify the deposit,” adds Bednarz. 

Similar to other Sudbury deposits, it’s rich in copper, nickel, cobalt, platinum, palladium, gold, and silver. 

The deposit was originally discovered in 2010; KGHM INTERNATIONAL decided to take the leap toward advanced exploration five years ago. 

Currently, the Victoria project is progressing on schedule and midway through the advanced exploration phase, which includes two major efforts. 

“First, with the help of DMC, is sinking the shaft to 1,860 m and mining a bulk sample,” outlines Steve Dunlop, General Manager of Canada and Head of North American Exploration. 

“Second is diamond drilling to further define and upgrade the resource; we’re currently drilling from the 1,200 m level. Additionally, we’re continuing the engineering and studies required to support the full mine. 

“We will continue to complete advanced exploration and look forward to the next phase of our full production,” Dunlop sets out. 

GOOD NEIGHBOR  

The Victoria project will be a state-of-the-art operation relying on the latest available technologies, such as battery-powered vehicles and low-emissions systems.  

“Our vision is to ensure we’re building tomorrow’s mine for the community. It will be both efficient and have a very small carbon footprint,” acclaims Dunlop. 

The project is currently expected to produce more than 1.2 million tons (t) of mill feed annually and have an estimated mine life of 14 years. 

Not just a mine, this project is a critical step to securing the minerals needed for the global energy transition and powering the 21st-century economy. 

It also gives KGHM INTERNATIONAL the opportunity to contribute to the development of sustainable opportunities for local communities and the region. 

The Victoria project thrives on the foundation of ‘good neighbor’ values, enjoying strong support from local authorities, Indigenous partnerships, and communities. 

“As a local resident myself, I am deeply committed to ensuring this project offers long-term value and sustainable growth for the Sudbury region,” Dunlop acknowledges. 

KGHM INTERNATIONAL maintains active and transparent dialogue with Indigenous partners, recognizing that their support is essential to the project’s future and the region’s economic resilience. 

“Our goal is to turn natural wealth into a shared success story that respects cultural heritage while providing modern jobs,” Bednarz asserts. 

“We take immense pride in the positive impact our team is delivering for both the local community and, more broadly, Canada’s Critical Minerals Strategy. It’s inspiring to see the team’s dedication to working hand-in-hand to complete the project.” 

PROJECT ADVANCEMENT 

Moving through 2026, KGHM INTERNATIONAL’s top priority is the successful advancement of the Victoria project’s shaft sinking and commencement of extended underground drilling. 

Another key target is to continue contributing value to KGHM and maintain its role as one of the world’s leading copper producers globally while focusing on asset optimization and cost discipline. 

“We are also dedicated to reaching new milestones in safety and digital transformation across all our KGHM INTERNATIONAL assets across Canada and the US, collaborating with local communities around our operations, and strengthening our reputation as a trusted business partner in sustainable mining,” affirms Bednarz. 

The subsidiary’s investment strategy, meanwhile, includes modernizing site-wide infrastructure, such as its recently commissioned wastewater treatment plant and high-voltage electrical substations. 

Moreover, KGHM INTERNATIONAL is exploring synergies for shared infrastructure with other major miners to improve cost efficiency across its Canadian operations. 

“Each of these projects reinforces our position as a leader in the North American critical minerals sector,” closes Dunlop.

The post KGHM INTERNATIONAL LTD. : Ontario’s Mine of Tomorrow appeared first on Mining Outlook.

Investment extends Matla mine life

The new operation forms part of the Matla Life of Mine Project (MLOMP), a R5.236 billion investment designed to provide continued access to remaining coal reserves, extend the life of the mine and support coal supply under the recently extended Coal Supply Agreement (CSA) with Eskom.

Exxaro developed New Mine 1 after production at the original Mine 1 ceased in 2016 because of deteriorating safety pillars near the shaft infrastructure.

The new operation has been established to safely access the remaining reserves while providing a long-term pathway for extending the mine’s operational life.

As a cost-plus operation, Eskom is contractually responsible for funding the mine’s costs to achieve the lowest possible overall fuel cost.

According to Exxaro, New Mine 1 is expected to produce approximately 4.2 million tonnes of coal annually and will play a critical role in supporting the reliable operation of Matla Power Station.

The Matla Coal Mine employs 6,174 people, including contractors.

Infrastructure upgrades support production

The project has delivered several major infrastructure and operational improvements, including:

• Construction of a box cut to access the Mine 1 working area
• Installation of a tunnel development silo feed conveyor system
• Development of an overland conveyor integrated with a new crushing and handling plant connected to Eskom’s conveyor network
• Construction of a new support complex comprising employee change house facilities, engineering workshops, material warehouses and administration buildings
• Implementation of a shortwall replacement project featuring new-generation mining equipment

Leadership highlights long-term strategy

Ben Magara, Chief Executive Officer of Exxaro Resources, said the project represents more than a new mining operation.

“The New Mine 1 is far more than an operational milestone, for us it reflects Exxaro’s disciplined execution, long-term vision, and commitment to South Africa’s future. Our Matla Mine continues to play a vital role in supporting the country’s energy needs while creating meaningful impact through local investment, job creation, and the development of entrepreneurship.

Most importantly, this milestone reflects the commitment and resilience of our employees, whose dedication to the company continues to enable us to deliver complex projects on time, to scope and on budget while making a meaningful contribution to the country and its communities.”

Industry leaders attend mine opening

South Africa’s Minister of Minerals and Petroleum Resources, Gwede Mantashe, attended the opening ceremony and visited workers underground.

“This is a journey back home for me. I spent six years at this mine, working here and organising here, and during that same period we achieved production records. I was here as a worker, and today I return as a Minister.

People have often said that coal is a dying industry because of concerns around pollution. However, the industry continues to evolve, particularly through improvements in mining safety and ongoing investment in innovation and research. Coal miners should never be ashamed of the work they do.”

Dan Marokane, Group Chief Executive of Eskom, said the project demonstrated the value of collaboration between the two organisations.

“The expansion of Matla New Mine 1 demonstrates how strategic collaboration secures South Africa’s energy future. The reliable supply from Matla ensures that, as the grid is decongested to enable rapid renewables penetration, Eskom maintains operational consistency and security of energy supply needed to support South Africa’s developmental and industrial needs.

We also negotiated the new contract structure as part of Eskom’s Cost Optimisation and Revenue Enhancement (CORE) programme, which aims to drive efficiencies in primary energy procurement. This milestone comes as Eskom marks 365 consecutive days without load shedding — a testament to the impact of sustained investment, operational discipline, and partnership with Exxaro”.

Community investment and economic impact

Exxaro said the Matla Life of Mine Project has also delivered socioeconomic benefits in Mpumalanga.

Since the project began, it has:

• Created approximately 1,132 local employment opportunities.
• Invested R532 million in black-owned businesses.
• Supported local Small Medium Micro Enterprises and prioritised skills development initiatives.

The company said these initiatives form part of its strategy to promote inclusive growth and strengthen host communities while reinforcing Matla Mine’s role in South Africa’s energy sector.

The post Exxaro Opens New Mine 1 at Matla Colliery to Extend Mine Life and Support Energy Security appeared first on Mining Outlook.

Pilot plant designed for integrated antimony processing

The fully funded pilot plant has been designed to support front-end processing at the Whiskey Bravo site and beneficiation and refining operations at Port MacKenzie. According to Nova Minerals, construction is expected to begin this quarter, with procurement of major process plant equipment already underway and key components either delivered or in transit.

The engineering and design package covers the Whiskey Bravo front-end processing site, the Port MacKenzie beneficiation plant, refinery and supporting infrastructure.

The pilot plant has been engineered to produce military-grade antimony trisulfide that meets U.S. Department of War quality specifications using what the company describes as a proprietary cleaner hydrometallurgical processing method.

Nova Minerals said the modular facility has been designed as the first stage in establishing a fully integrated domestic antimony supply chain in the United States. The design also allows for future expansion through the addition of refining circuits capable of producing antimony trioxide and antimony metal.

The company said the facility is intended to serve as a scalable processing hub for feedstock from the Estelle Project, as well as regional and global projects.

Construction preparations underway

With engineering and design complete, the project has entered the execution phase.

Major equipment procurement is progressing, with more than 40 containers currently en route to Port MacKenzie for delivery in the coming weeks.

Nova Minerals also secured key equipment from a recently decommissioned modern beneficiation circuit at a North American processing facility. According to the company, the equipment has a limited operating history and is well suited to the proposed pilot plant flowsheet.

The acquisition is expected to reduce procurement lead times, improve capital efficiency and accelerate the project’s transition from engineering into construction and operational readiness.

Processing flow established

The integrated pilot plant has been designed to process stibnite-bearing material and produce an antimony trisulfide product suitable for sale or further downstream processing.

Operations will be split across two locations.

At the Whiskey Bravo site, front-end processing will include crushing, screening, ore sorting, concentrate storage and load-out.

Bulk sample material collected from the Stibium and Styx areas within the Estelle Project claims will first be transported to Whiskey Bravo for crushing and initial sorting before selected material is moved by air or snow road to Port MacKenzie.

At the Port MacKenzie processing facility, the ore will undergo crushing, screening, ore sorting, beneficiation, refining, product recovery and associated utility and reagent processes before being refined using the company’s proprietary cleaner hydrometallurgical process.

The final antimony trisulfide product will then be filtered, dried and bagged for shipment.

Execution phase begins

Christopher Gerteisen, Chief Executive Officer of Nova Minerals Corp., said the completion of engineering and design represented another significant milestone for the project.

“We continue to make rapid progress on the antimony project and remain ahead of schedule, with another major milestone now completed.

The engineering and design plan has been developed based on extensive metallurgical test work and process flowsheet development. With this work complete, and procurement of key equipment now finalized, the project has entered the execution phase.

Ore extraction and construction of the process plant are next steps as we continue progressing toward near-term antimony production.”

The post Nova Minerals Completes Engineering for Alaska Estelle Antimony Pilot Plant appeared first on Mining Outlook.

FORGED IN GROWTH AND GOLD

As it navigates ongoing activity, North America’s gold mining industry is responding to shifting economic conditions, emerging technologies, and growing expectations around environmental responsibility.  

Across key regions such as Ontario (ON), Canada, long-established mining districts operate by way of modern exploration techniques and increasingly efficient extraction methods. 

Amid ongoing global uncertainty, gold remains a significant commodity in the sector. 

This has prompted a level of mining investment activity, with key operators seeking to maximize output from existing assets while advancing new projects. 

At the same time, a number of the continent’s more mature mines are approaching the latter stages of their lifecycles, creating a requirement for ongoing exploration and infrastructure development.  

In response, many companies are increasingly targeting resource expansion opportunities in proven regions where geological understanding and established infrastructure offer an operational base.  

Elsewhere, the integration of advanced technologies – including artificial intelligence (AI), automation, data analytics, and digital monitoring systems – is enhancing efficiency and improving decision-making across the mining lifecycle. 

The scene is also undergoing a broader transformation driven by heightened environmental expectations and regulatory oversight. From emissions reduction initiatives to more responsible land management practices, mining companies are aligning production with sustainability goals while maintaining operational performance. 

As North America’s gold sector operates within a changing environment, it continues to adapt. 

SIGNIFICANT OPERATION 

Hemlo Mining Corp. (Hemlo) is a Canadian mining producer built on one of the country’s most iconic gold camps. 

Formerly known as Carcetti Capital Corp., Hemlo was recently established in 2025 to operate the Hemlo Gold Mine in Northwest OT, acquiring the site from Barrick Mining Corporation (Barrick).  

The acquisition was a highly competitive process, however Hemlo’s strong technical team and institutional backing enabled it to secure the acquisition. 

Hemlo had exceptionally strong support to finance what was ultimately a USD$1 billion transaction and was fortunate for the outcome to fall in its favor. 

The deal was underpinned by Hemlo’s long-term view and expertise in the gold market, particularly given the opportunity created by the divergence between spot prices and long-term forecasts. 

A piece of Canadian mining history, the Hemlo Gold Mine has been in production for over 40 years, having produced over 25 million ounces (oz) of gold during its lifetime.  

Today, two key pieces of infrastructure are operating well below capacity, creating a significant opportunity for the company. The mill is running at about 40 percent capacity and the hoist at around 60 percent. 

In terms of its production profile, Hemlo hasn’t released formal guidance yet – however, the company did publish its NI 43-101 Technical Report late last year, which provides some insight regarding potential future production and growth profiles.  

CONSIDERABLE FLEXIBILITY 

The company believes the Hemlo Gold Mine offers significant expansion potential, with cut-off grade adjustments to optimize extraction.  

In many deposits, adjusting the cut-off grade results in margin compression, whereas Hemlo is in a position where that impact is far less pronounced, creating a potential opportunity for increased tonnage and the potential to reduce unit costs through economies of scale. 

While some operators have shifted their focus away from Canada in recent years, the company remains confident in its prospects. Indeed, the country is still a top-tier mining jurisdiction, and Hemlo is proud to be part of it. 

However, one of the industry’s most pressing challenges is a widespread shortage of skilled professionals. 

A lack of people and talent is significantly impacting the sector, with significant attrition across the board – from miners and geologists to engineers and finance professionals, even within government.  

This talent gap also affects regulatory processes, particularly at the provincial level, where reduced capacity makes it difficult to accelerate permitting timelines. 

At the same time, there is a broader structural imbalance within the global mining value chain when it comes to outsourcing minerals refinement and processing.  

Much of the refining capacity still sits in Eastern markets, which is not something that can be fixed overnight.  

OWNER-OPERATOR MODEL 

Hemlo recently transitioned to owner-operator of the mine, overseeing a workforce of approximately 700.  

The company primarily tries to hire within local communities, collaborating with First Nations partners in the towns of White River, Manitouwadge, and Marathon.  

Its transition to an owner-operator model was a move designed to strengthen both its operational control and community engagement. 

Historically, many workers moved away from the region due to the prevalence of contractor-based roles – Hemlo is seeking to reverse that trend.  

People want stability – pensions, benefits, and the ability to go home to their families every night, rather than staying in camps. 

Re-establishing these kinds of connections is fundamental to enabling a healthy work-life balance for the company’s employees. For Hemlo, it’s all about being a strong member of the community. 

The mine’s historic legacy is a defining element of Hemlo’s identity. 

To unlock its potential, Hemlo is committing substantial investment into the asset. Details surrounding its future investment plans will be released as part of its formal guidance later this year. 

LONG-TERM SUSTAINABILITY 

Alongside exploration, the company is investing in its workforce, mining fleet, and processing infrastructure. 

In this sense, the Hemlo Gold Mine is not just a standalone asset, but a platform for broader growth. 

A cornerstone of Hemlo’s growth strategy is its extensive 130,000-meter (m) exploration drilling program for 2026 – one of the largest of its kind in Canada. 

The program is divided into three key components, each designed to support both short-term performance and long-term expansion.  

These components include resource conversion drilling to a depth of 70,000 m, a 30,000 m high-definition drilling stage focused on derisking the short-term mine plan, and a 30,000 m growth drilling stage to test new mineralized zones outside the current mineral resource footprint.  

The 2026 resource conversion drilling program targets inferred mineral resources and unclassified material to upgrade it to the indicated mineral resource category and extend current mine life. 

The high-definition drilling program refers to the tighter drill spacing routinely applied at the Hemlo Gold Mine prior to mining, while the growth drilling program is designed to test expanded mineralized footprints identified through sporadic historical drilling and localized past mining areas. 

UNLOCKING VALUABLE GROWTH 

A revised geological understanding of the deposit is key. For many years, the deposit was mischaracterized – It’s actually a Precambrian porphyry or intrusion-related system, which has important implications for how mineralization is distributed. 

As the system formed, mineralized fluids moved upward, precipitating at multiple contact points. 

What makes the deposit particularly unique is the fact it has undergone two deformation events, effectively folding the mineralization over itself. The mineralization existed before this deformation. 

Historically, mining operations focused on the main contact zones, which were economically viable at much lower gold prices. However, today’s pricing environment opens up additional opportunities. 

There are zones in both the hanging wall and footwall that are located near existing infrastructure. 

NEW MINERALISED STRUCTURES 

In May this year, Hemlo announced results from its 130,000 m 2026 drilling program regarding the South-Rim Zone (South-Rim) which support the definition of a newly recognized, high-grade mineralization domain. 

Identified as one of four priority growth targets in Hemlo’s January 2026 announcement, South-Rim forms part of the company’s growth component.  

Initially intersected during previous drilling campaigns, the company’s ongoing reinterpretation of South-Rim suggests multiple mineralized horizons within the metasediments may remain.  

Multiple discrete, sub-parallel lenses of 1 to 2 m in width have exhibited moderate-to-strong silicification and carbonate alteration, hosting high-grade ore shoots that display plunge orientations identical to those of the C-Zone or E-Zone ore bodies.  

The newly defined structure demonstrates how high-grade shoots within South-Rim are not isolated anomalies, but rather a coherent system of plunge-controlled lenses. 

Hemlo’s geology team recently completed a comprehensive reinterpretation of all available drill data, recognizing for the first time that these discrete intersections are part of a single, plunge-controlled mineralized structure extending over more than 1.5 kilometers vertically and within an approximately 300-m-wide east-west corridor. 

While individual lenses in the C-Zone remain spatially separated, they share consistent grade characteristics and structural affinity, confirming their common genetic origin. 

The ongoing growth drilling campaign is designed to validate this new interpretation, infill data gaps within the upper portion of the South-Rim structure and test the lateral and down-plunge extents of the system. 

With intercepts at South-Rim now announced, Hemlo’s exploration strategy turns eastward toward several other zones, where historical mining intersections within equivalent South-Rim horizons returned results that remain largely untested by drilling. 

LONG-STANDING COLLABORATIONS 

Beyond geology and operations, Hemlo places strong emphasis on its relationships with local suppliers and surrounding communities. 

Long-standing collaborations, such as with Manroc Developments – who has supported operations in the region for nearly three decades – remain central to the company’s approach. 

It’s important to maintain those relationships as they play a key role in Hemlo’s development activities. 

At the same time, Hemlo works with First Nations partners to support economic development and establish long-term, sustainable business opportunities. 

This commitment extends to the nearby town of Marathon, where the company engages a range of local suppliers for operational and safety services. 

For Hemlo, it’s about ensuring that the benefits of the mine are felt across the entire region. 

Equally, sustainability and environmental responsibility also form a core part of its operating philosophy. 

The company adheres to a range of environmental standards and reporting frameworks while also going beyond baseline requirements. 

Hemlo complies with multiple environmental and sustainability initiatives, publishes annual reports, and conducts quarterly audits in collaboration with its First Nations partners. 

This level of engagement ensures transparency and accountability among members of the community. 

PEOPLE-CENTRIC APPROACH 

Looking ahead, Hemlo has set out a clear roadmap of corporate and operational milestones. 

From a market perspective, the company has been listed on the Toronto Stock Exchange (TSX) by the TSX Venture Exchange since June, ahead of a further listing on a major US exchange. 

In parallel, Hemlo is aiming for inclusion in key mining indices, alongside the release of an updated resource estimate as part of internal technical and administrative work. 

The company is completing all the groundwork this year, from geotechnical and ventilation studies to material handling and mine sequencing. 

Operationally, the focus remains on stabilizing the site and gradually increasing production rates. 

Production and financial targets aside, Hemlo’s people-centric approach is what truly sets the company apart.  

One of the most unique aspects of the business is how integrated its leadership team is with the site. 

Senior executives spend significant time on-site each month, working closely with operational teams. 

With a young and ambitious workforce, Hemlo is focused on cultivating the next generation of industry leaders. 

This emphasis on mentorship and development is a key component of both the company’s culture and long-term vision, particularly as it navigates an increasingly competitive labor market.

HEMLO MINING CORP. PARTNER

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Data Capture, Processing and Analysis

Caterpillar has expanded its mining technology capabilities through the acquisition of Skycatch, a provider of spatial data capture, processing and analysis solutions for the mining industry.

The acquisition builds on Caterpillar’s recent acquisition of RPMGlobal (RPM) and is designed to enhance the company’s data-driven mining technology solutions, helping customers optimise material movement and improve mine site performance.

Mining Technology and Data Integration

Skycatch’s technology captures high-frequency, high-precision, large-scale spatial data and combines it with artificial intelligence (AI) capabilities to analyse and interact with operational information.

Integrating Skycatch’s technology with its RPM and MineStar solutions is intended to provide mining customers with improved visibility of site conditions and support faster, more accurate decision-making across staffed and autonomous fleets.

“Acquiring Skycatch aligns with our strategy to solve our customers’ toughest challenges,” said Denise Johnson, Group President, Caterpillar Resource Industries. “By integrating near-real-time, high-resolution spatial data into both RPM and MineStar solutions, we can help customers improve mine site performance by enhancing safety, productivity and predictability across their operations using both staffed and autonomous fleets.”

AI-Powered Spatial Data for Mine Planning

Skycatch’s technology enables the creation of near-real-time digital twins of mining sites, allowing current operational data to be incorporated directly into planning and execution workflows.

Caterpillar said the technology provides mining companies with a more up-to-date view of their operations, improving the speed, accuracy and precision of decisions.

“Skycatch’s ability to process large volumes of spatial data at dramatically improved speeds opens up a fundamentally different way of operating,” said Richard Mathews, CEO of RPMGlobal. “With a near real-time spatial view of the operation, miners can adjust plans as conditions change, improve alignment between planning and execution, and deliver more predictable outcomes.”

Improving Operational Performance

By integrating accurate spatial data into existing software platforms, mining operators can better align planning activities with site execution, helping reduce delays and improve confidence in daily operations.

Caterpillar said the combined capabilities will support customers seeking improved safety, productivity and operational predictability across complex mining environments.

“We’re incredibly proud of what Skycatch has built over the past decade and excited for this next chapter with Caterpillar,” said Christian Sanz, Skycatch Founder & CEO. “This next step strengthens our ability to support our customers while increasing the value we can deliver.”

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