Ukraine: Power Disruption Halts Ferrexpo’s Iron Ore Production

What happened

Ferrexpo announced on November 10 that it had temporarily stopped production after further attacks on Ukrainian electricity transmission lines and substations. The company said electricity supplies to its operations had become unstable and insufficient to sustain output.

Its own assets had not been damaged. European customers could continue receiving deliveries from existing inventory stockpiles.

Ferrexpo intends to restart when operating conditions allow production on a commercial basis. It did not provide a restart date, quantify potential production losses or disclose how long inventories could sustain deliveries. The immediate interruption concerns electricity availability outside the mine’s boundaries.

What happened

Lindian Resources announced a binding term sheet for monazite concentrate from its Kangankunde project with an unnamed major rare earth refining group.

The detailed terms cover 10,000 dry metric tonnes over an initial year beginning in January 2027. A separate Stage 2 commitment covers 20,000 tonnes annually for five years. First shipments through Mozambique’s Nacala port are planned for January 2027, after targeted first production in December 2026.

The arrangement remains subject to full contracts, concentrate production and required consents and approvals. Stage 2 also depends on regulatory conditions, available quotas and operating performance. The buyer’s identity and location were not disclosed.

What happened

Atico Mining announced on November 10 that Ecuador’s Ministry of Energy and Mines had approved the transition of the La Plata concession from economic evaluation to exploitation. The resolution covers underground mining at medium scale.

According to the company, the decision authorises construction and subsequent operation. Atico described it as the final major permission needed to begin work and plans to start construction in the first quarter of 2027.

The approval moves La Plata into a new stage of project delivery. Construction and commissioning still lie ahead, so the announcement does not represent the start of commercial copper and gold production.

What happened

Barrick announced on November 10 that American Barrick Gold Corporation had filed an S-1 registration statement for a proposed initial public offering. The new company is intended to hold Barrick’s North American gold assets and plans to seek a New York Stock Exchange listing under the symbol ABGC.

The number of shares and price range have not been set. Net proceeds would go to Barrick, which expects to return them to shareholders.

The filing advances the proposed corporate separation, but the offering remains subject to market conditions and SEC review. The registration statement is not yet effective. Its technical disclosures include Nevada Gold Mines, Fourmile and Pueblo Viejo, so the asset portfolio extends beyond the United States.

What happened

Evolution Mining confirmed on November 10 that its acquisition of Carnaby Resources had been implemented through the approved scheme of arrangement. All shares covered by the scheme were transferred to Evolution.

Eligible shareholders received 0.0682 Evolution shares for each Carnaby share. Normal trading in the new shares and Carnaby’s removal from the ASX were expected on November 11.

The completed acquisition brings Carnaby’s Greater Duchess copper project into Evolution’s portfolio. Earlier company disclosures connected the transaction with copper growth opportunities around Ernest Henry. The November 10 announcement establishes completion of the ownership transaction, with mine development and production remaining separate steps.

What happened

India’s Ministry of Coal opened a third application round on November 10 under its ₹37,500 crore programme for surface coal and lignite gasification. Applications close on January 11, 2027.

The ministry also reported that the preceding round received two applications from NTPC: one for urea production and another for methanol and dimethyl ether.

The programme, approved in May, seeks to expand the use of domestic coal for industrial products and support the national gasification target for 2030. The November 10 development is the opening of another funding round and disclosure of applications received. No project approvals or funding awards under the new round were announced.