TSX-V-listed Excellon has announced a financing and offtake agreement with Glencore to support the restart of its past-producing Mallay silver mine in Peru. The deal provides for up to $7.5-million in secured funding, structured as a pre-export finance loan, the Toronto-based miner reported this week.
ASX- and TSX-listed Perseus Mining has concluded a formal signing ceremony at the Nyanzaga gold project, in Tanzania, which involved the execution of critical mission agreements between the Tanzania government and Perseus’ subsidiary Nyanzaga Mining Company. The agreements followed extensive negotiations between the two parties to govern the development of operation of the mine that is under development.
Chilean lithium producer SQM expects prices and sales volumes to rise in the third quarter, executives said on Wednesday, after the miner missed estimates for second-quarter net profit. The world's second-largest lithium producer reported a 59% decline in quarterly profit, with lithium prices down around a third year-on-year.
Chilean copper miner Codelco will lower its 2025 production guidance after an accident at its flagship El Teniente mine knocked 33 000 metric tons off the facility's output, executives said on Wednesday. El Teniente is now forecast to produce 316 000 tons this year, CEO Ruben Alvarado told a congressional hearing about the accident.