AGP Executive Report

Deadly Gold Strike: At least 72 miners were reported killed in an airstrike on an informal gold site near the Sudan-Egypt border. A Sudanese rights group blamed Egypt’s air force; the claim has not been independently verified, and Egypt has not commented. Copper Disruptions: Chile’s El Teniente mine partially suspended operations after a fatal landslide, while a strike at Centinela added to supply concerns and helped lift copper prices. Amulsar Reopens: Armenia’s controversial gold mine has begun operations and poured its first gold after years of delays. It is forecast to produce about 210,000 ounces a year, with the government holding a 12.5% stake. Lithium Deal: EnergyX signed a binding, 10-year, $2 billion supply agreement with Trafigura for 100,000 tonnes of lithium from planned projects in Chile and the US; production is targeted for 2028. More Local Processing: Ethiopia opened a $50 million precious-metals refinery with capacity to process more than 600 tonnes annually. In Zimbabwe, Zheli Mining plans a lithium sulphate plant as the country’s expanding mines and processing projects push power demand higher.

Rare Earths: Critica reported a maiden indicated resource of 160 million tonnes at 1,700 ppm TREO at its Jupiter project in Western Australia, upgrading part of a 1.7-billion-tonne resource. Worker Safety: Two workers died and one was rescued after a landslide at Codelco’s El Teniente mine in Chile; operations in the south pit were suspended. Sudan Gold: A rights group says at least 72 miners were killed in airstrikes near the Sudan-Egypt border. The toll and allegations that Egypt carried out the attack have not been independently verified. Copper Restart: Cyprium says early heap-leach commissioning at Western Australia’s Nifty complex met or beat expectations, supporting its target of first copper cathode in Q4 2026. Project Control: Cobre lifted its stake in Chile’s Sierra Atacama copper project to 62.86% for about US$12 million, securing majority control. Community Benefits: New Simberi Gold signed a revised development agreement intended to direct royalties to beneficiaries and guide infrastructure and social investment across Papua New Guinea’s Tabar Islands.

Labor: About 400 workers at Philex Mining’s Padcal mine in the Philippines began a strike after wage talks broke down, seeking raises to keep pace with living costs. Coal’s uncertain future: Semirara residents fear layoffs after the Philippines canceled its 2026 coal bid round; the company’s operating contract expires in 2027. In India, a central team is assessing whether small-scale coal mining can resume in Meghalaya under safer, regulated methods. Gold projects: Armenia has started operations at the Amulsar mine, expected to produce about 210,000 ounces of gold a year and generate roughly $130 million annually in state revenue. Ethiopia has also opened its first national precious-metals refinery, aiming to process gold domestically rather than export it raw. Security and cleanup: Airstrikes reportedly hit artisanal gold-mining camps near Sudan’s border with Egypt, injuring workers and forcing many to flee. In Zimbabwe, an explosion at an iron-mining company’s explosives store damaged homes; authorities suspect an attempted theft, and investigations continue. Montana, meanwhile, won a regional award for a new treatment plant tackling decades of mine-water pollution.

Coal Transition: Semirara Island residents fear layoffs and wider economic fallout after the Philippine government cancelled its 2026 coal bid round; the mine’s operating contract expires in July 2027. New Production: Armenia’s Amulsar gold mine has started operations, with expected annual output of about 210,000 ounces and more than $750 million invested. Local Processing: Ethiopia opened a precious-metals refinery designed to process over 600 tonnes a year, aiming to add value to gold and silver before export. Critical Minerals Finance: The U.S. DFC plans to take more direct equity stakes in African companies, including strategic-minerals projects; it already has more than $3 billion committed to critical minerals on the continent. Exploration Policy: Nearly half of Canada’s provinces and territories are urging Ottawa to expand exploration tax credits to cover engineering and feasibility work. Deep-Sea Safety: USGS researchers warn that seafloor sulfide rocks can heat above 100°C when brought to the surface, posing a potential fire risk if deep-sea mining advances.

Mine Safety: A gold mine collapse in Turkana, Kenya, killed one person and left two trapped; a fatality at West Virginia’s American Eagle coal mine is under investigation. Legal Accountability: South Africa’s High Court convicted two directors and three Gupta-linked companies over more than R107 million misused from mine rehabilitation funds. Gold Trade: Malawi is preparing three official buying centres to draw small-scale miners away from smugglers and keep more gold revenue in the country. Major Projects: Armenia’s controversial Amulsar gold mine has begun operations, while the EU named Eldorado Gold’s Skouries copper-gold mine a Strategic Project. Community Benefits: New Simberi Gold signed a revised agreement setting out direct royalty distribution and a K15 million infrastructure commitment for Papua New Guinea’s Tabar Islands. Critical Minerals: Several Canadian provinces and Yukon are urging Ottawa to expand exploration tax-credit eligibility to help junior miners advance projects.

Mine Safety: West Virginia coal miner Travis Price, 44, died at American Eagle Mine; state officials are investigating. In China, 41 people were sentenced over mine-safety failures linked to fatal accidents. Critical Minerals: The EU designated Eldorado Gold’s Skouries copper-gold mine in Greece a strategic project; the mine has begun operations. Courtroom Accountability: Two directors and three Gupta-linked companies were convicted over R107.5 million diverted from coal-mine rehabilitation funds in South Africa. Copper: Prices remain near record levels amid supply concerns, including strike risks at Chile’s Centinela mine. Magna also approved a restart of Ontario’s Levack copper mine, targeting production by 2028. Company Results: K92 Mining reported third-quarter output of 49,776 ounces of gold equivalent and passed the one-million-ounce milestone at Kainantu. Industry Finance: Baffinland’s proposed asset sale, including its Nunavut iron-ore mine, faces calls for independent oversight as the company works through $2.6 billion in debt.

Critical Minerals: The EU named 46 strategic projects worth €21bn to strengthen supplies and reduce reliance on China, including two KGHM copper investments designated strategic. Mine Restarts: Magna approved restarting Ontario’s Levack copper-nickel mine, targeting commercial production in 2028 after an estimated C$70.1m in initial capital. Jobs and Regulation: Namibia’s mining minister warned companies against using contractors to keep workers in a cycle of short-term jobs. Ghana plans to revise its mining bill, restoring a maximum 20-year lease term while retaining special state shares. Production: Aura Minerals reported record third-quarter output of 95,557 gold-equivalent ounces, up 29% year on year. Lundin Gold also reported its strongest-ever quarterly production at Fruta del Norte. Permits and Protests: Finland is funding Sokli despite unresolved environmental and water permits, while opponents of a planned lithium mine in northern Portugal blockaded work on common land.

Copper: Cyprium Metals says commissioning at Western Australia’s Nifty complex is progressing, with first cathode production targeted for the fourth quarter. At Chile’s Centinela mine, unions warn a strike could halve November output, though Antofagasta says it expects to maintain guidance. Gold: Lundin Gold posted record quarterly production of 153,736 ounces at Ecuador’s Fruta del Norte mine. Namib Minerals completed an expansion at Zimbabwe’s How Mine, lifting monthly processing capacity by 36%. New Projects: Greece’s Skouries mine has moved into production after years of delays, while Florence Copper officially launched the first U.S. copper mining operation since 2008. Climate Rules: Australia’s High Court ruling blocking a coal mine extension over unassessed exported emissions could reshape approvals for projects across the sector.

Coal and Climate: Australia’s High Court blocked a coal mine expansion, ruling that emissions from exported coal must be considered. The decision could reshape project approvals across the sector. Production: K92 Mining reported second-highest quarterly output of 49,776 gold-equivalent ounces and passed one million ounces since commercial production began. Trekor reported 41 million pounds of copper in Q3, while Endeavour Silver produced 3.6 million silver-equivalent ounces. Critical Minerals: Aclara and CAP opened a Chilean demonstration plant to make rare-earth metals and alloys. Nova Minerals says equipment has arrived for its planned Alaska antimony refinery, with construction pending permits. Copper Exploration: Hot Chili reported broad, shallow copper-gold results at Chile’s La Verde project ahead of a planned maiden resource. Conflict and Gold: In eastern Congo, armed militias are profiting from a gold mine and extorting people and businesses, deepening concerns about conflict-linked mineral trade.

Climate and Coal: Australia’s High Court upheld the rejection of a Hunter Valley coal mine expansion, ruling that regulators must consider emissions from coal burned overseas. The decision could reshape future project approvals. Labour: Workers at Chile’s Centinela copper mine began a strike after contract talks failed; more than 400 Sibanye-Stillwater workers in Montana, meanwhile, are returning after a month-long stoppage. Battery Supply: LG Energy Solution secured 240,000 tonnes of lithium concentrate over four years from Quebec’s North American Lithium mine, enough for batteries for about 700,000 EVs. Critical Minerals: A U.S.-backed Rocky Mountain project will assess critical minerals in coal seams, mine waste and wastewater, while Titan Mining and the U.S. Army agreed on a commercial framework for an Alabama graphite-processing facility. Project Development: Savannah Resources is nearing a second offtake deal for its Barroso lithium project in Portugal, a key step toward financing. Zambia’s ZCCM-IH also approved a $498 million tailings leach plant at the KCM copper mine.

Production: Fortuna Mining produced 69,665 gold-equivalent ounces in the third quarter and remains on track to meet its 2026 guidance. Alphamin also reported tin output in line with its annual target. Critical Minerals: Q2 Metals reported thick lithium intercepts at its Quebec project, while Titan Mining agreed commercial terms with the U.S. Army for a proposed Alabama graphite plant. Investment: Essar-backed Mesabi Metallics outlined an $18 billion integrated iron ore and steel complex across Minnesota and Iowa. In Namibia, a $50 million investment is planned to restart Elizabeth Bay diamond mine. Coal and Climate: Australia’s High Court blocked the Mount Pleasant coal mine expansion, ruling that authorities must consider emissions from the use of exported coal. Oversight: A Meghalaya court panel called for an inquiry into 1.3 million tonnes of missing coal, while illegal mining continued to threaten water quality in Ghana.

High-Court Climate Ruling: Australia’s High Court upheld a landmark decision blocking MACH Energy’s Mount Pleasant coal mine expansion, saying planners must consider local climate impacts from downstream emissions tied to exported coal, setting a binding precedent for fossil-fuel approvals. COP31 Pressure: Pacific climate advocates urged Australia to halt new coal approvals after the ruling, arguing the legal standard should apply domestically first. Mining Licensing Clash: Victoria granted a 20-year licence for the Avonbank mineral sands project near Horsham, despite strong local opposition, with mining planned to start in 2029. Workplace Scrutiny in Lithium: Western Australia’s regulator issued an improvement notice to Talison Lithium at Greenbushes after findings of psychosocial harm and a toxic workplace culture. Nickel Asset Shuffle: BHP sold its Kambalda nickel concentrator and tenements to Gold Fields, bypassing Wyloo Metals. Gold Market Shift: Sanctions rerouted Russian bullion, with Hong Kong importing record volumes of Russian-origin gold headed to China. Corporate Moves: Kalamazoo Resources secured A$10m via a premium placement to advance its Ashburton gold project; De Beers took full control of Gahcho Kué by buying out Mountain Province’s stake. Labor Update: USW contract talks with U.S. Steel and Cleveland-Cliffs paused again over healthcare cost demands.

Mining Governance & Land Rights: Pahang, Malaysia says it’s open to talks with Berjaya Hills Resort over enforcement action tied to quit-rent disputes at Bukit Tinggi, but insists any resolution must follow existing law. Uranium Development: Atomic Eagle reports 81%–86% uranium recoveries from metallurgical tests on its Muntanga East deposit in Zambia, supporting heap-leach development. Gold Expansion: Allied Gold says exploration at Ethiopia’s Kurmuk Mine is extending mineralized zones and aims to grow mine life as commissioning and first ore approach. Silver Exploration: West Coast Silver starts a 4-kilometre geophysics program at Elizabeth Hill in WA to hunt for repeats of a historically high-grade silver system. Nickel-Cobalt Funding: First Atlantic Nickel & Cobalt closes a $3.49m flow-through placement to accelerate exploration at the Pipestone XL project. Corporate Moves: Kenmare Resources receives a nonbinding buyout proposal from Abu Dhabi’s IRH; discussions continue with a firm-offer deadline. Bauxite Trade: Guinea Alumina’s first post-settlement bauxite shipment heads to the UAE, signaling a renewed supply relationship. Safety & Accountability: FQM Australia Nickel is fined $810k after a Ravensthorpe worker suffered serious spinal injuries from unsecured equipment. Energy Transition & Critical Metals: METLEN signs a second long-term gallium supply deal tied to its Greece facility, targeting commercial production in 2027.

Permitting & expansion: Cambria Gold says it has secured the final permit to rebuild the first 12 km of road to its Red Mountain underground mine in B.C., aiming to restart Premier gold-silver operations and lift early production plans. Project momentum: Rumble Resources is moving toward a development decision at its Western Queen gold-tungsten project, with pit dewatering steps underway and an updated scoping study due in October. Exploration push: West Coast Silver has started a geophysical survey along the Munni Munni Fault Zone at its Elizabeth Hill silver project, targeting repeats of a historically high-grade system. Finance & decarbonization: EBRD approved up to EUR 55m for Bulgaria copper producer Asarel Medet to modernize and cut emissions, including renewable power investments. Coal power buildout: Pakistan’s Thar Block-II coalmine begins phase-three expansion, lifting output to 11.2m tonnes and feeding new generation capacity. Community & environment: Environmental groups are appealing a U.S. Interior decision to extend the Navajo Nation-owned Navajo coal mine to 2136. Critical minerals diplomacy: Cauldron Energy hosted Uzbekistan’s Navoiyuran and mining ministry officials at its Yanrey uranium project as technical due diligence continues. Offshore scrutiny: Ghana CSOs are urging a review of GoldCoast Resource’s offshore gold reconnaissance licences over inshore waters.

Rare Earth Deal: SPD will combine with Winner Water Services, adding a rare-earth recovery process that pulls REEs, scandium and alumina from coal ash impoundments, as part of SPD’s National Security Matters platform. Coal Transition & Jobs: The Diocese of Antique urges a time-bound “just transition” roadmap for Semirara as its coal contract nears expiry and 996 workers face layoffs. Environmental Enforcement: Colorado’s West Elk coal mine is accused of breaching methane release limits at nearly four times its permitted rate, raising the risk of sanctions. Mining Tech Push: Founders Factory and Rio Tinto picked five startups for a Mining Tech Accelerator cohort, targeting AI and deep-science fixes across the mining value chain. Gold & Copper Updates: Osisko Gold reports high-grade Cariboo infill results; Aldebaran posts long copper-gold intercepts at Altar in Argentina; Northern Discovery completes fieldwork at its Vent copper project on Vancouver Island. Power for Data Mining: TeraWulf boosts contracted power at its Muskie campus to 1 GW, supporting expansion plans. Rare Earth Magnets: The Pentagon’s $400m MP Materials bet is positioned to supply GM’s first rare-earth magnets outside China. Senegal Gold Processing: Dynacor pours first gold at its Galam pilot plant, aimed at scaling permitted artisanal gold processing in Senegal.

Just Transition Pressure (Philippines): The Diocese of Antique urged the Philippine DOE to add a time-bound, funded Just Transition Roadmap for Semirara in the national energy plan, warning that SMPC’s coal contract expiry next year could trigger job losses for island communities. Modern Slavery Rules (Australia): Australia’s Business Council pushed back on proposals to make companies criminally liable for modern slavery in supply chains, arguing it would add compliance load and hurt productivity and inflation outcomes; the Minerals Council says prevention and practical risk work should come first. Critical Minerals & Markets (Australia): Heavy Rare Earths’ HREO securities were reinstated to ASX trading after meeting listing requirements, restoring normal market activity. Gold Output Update (Australia): Capricorn Metals reported higher Q1 gold production from its Karlawinda project and said a major expansion was completed on time and within budget. Trade & Logistics (South Africa): China’s zero-tariff scheme for qualifying South African exports boosted dry bulk volumes at Port of Ngqura, lifting throughput for chrome, magnetite and iron ore. Rare Earths/Exploration (Australia): Moonlight Resources highlighted new Clermont gold drilling results, pointing to a shear-hosted system from surface down past 100m.