Argentina · Copper · MARA Receives RIGI Approval

What happened

Glencore announced on October 2 that the MARA project in Catamarca has received approval under Argentina’s Incentive Regime for Large Investments. The project combines the Agua Rica deposit with the Alumbrera processing facilities, located approximately 35 kilometres from the planned pit.

Glencore also reported that the restart of Alumbrera is progressing ahead of its previous schedule, with first production now expected in the second half of 2027. The company states that Agua Rica has approximately 1.2 billion tonnes of measured and indicated mineral resources and that the project has the potential to produce an average of more than 200,000 tonnes of copper in concentrate annually during its first ten years.

What happened

Bezant Resources announced that commercial concentrate production has commenced at the Hope & Gorob Copper Gold Project, with run of mine ore now being processed through the Tsoaxaub Metals flotation plant. The company said mine and processing plant construction were completed ahead of schedule and within internal budgets.

Initial throughput for October is targeted at a minimum of 9,000 tonnes for the month, with ramp up toward nameplate capacity planned by year end. More than 40,000 tonnes of run of mine material had been mined, and the first saleable concentrate is expected to be available for offtake in late October.

What happened

The U.S. Ukraine Reconstruction Investment Fund approved the establishment of a joint investment platform with BGV Group Management to build a portfolio of early stage mining projects in Ukraine. The U.S. Treasury said the initial focus will be on identified rare earth, beryllium and zirconium deposits.

The October 2 board decision formed part of a wider package of fund approvals covering critical minerals and energy. Treasury described the new mining platform as a vehicle intended to support development of Ukraine’s critical mineral sector and attract United States, Ukrainian and international capital.

What happened

Surge Battery Metals announced the results of a pre-feasibility study for the Nevada North Lithium Project in Elko County. The study is based on Proven and Probable Mineral Reserves and contemplates an open pit mine with on site processing of claystone into battery grade lithium carbonate.

The study estimates Phase 1 design capacity at approximately 55,900 tonnes per year of lithium carbonate with initial capital of US$2.77 billion. The two phase case has a 42 year mine life and an estimated life of mine average production of approximately 92,250 tonnes per year.

What happened

Osmond Resources released a scoping study for the Orión EU Critical Minerals Project in Jaén Province, Andalusia. The study evaluates an underground room and pillar mine and a processing route using established gravity, magnetic, electrostatic and flotation technologies for monazite, zircon, rutile and ilmenite recovery.

The company lists additional drilling, an upgraded Mineral Resource Estimate, further metallurgical work and progression toward pre feasibility as the next project steps. It is also considering applications for regional, Spanish and European project support schemes.

What happened

Freeport reported that mill throughput in the Grasberg minerals district averaged approximately 140,000 tonnes of ore per day during the third quarter, equivalent to about 67% of normalized rates before the September 2025 incident. Approximately 70,000 tonnes per day came from the Grasberg Block Cave.

The company said upgrades to the Block Cave material handling system remain targeted for completion by early 2027, with the restart of Production Block 1S targeted for mid 2027. Freeport continues to expect Grasberg to reach approximately 80% of capacity by mid 2027 and approach full capacity by the end of 2027.