Uganda targets higher exports with first large-scale gold mine
US eyes minerals cooperation in province home to Reko Diq
Nurol eyes Alamos’ Turkey mines stuck in $1 billion claim
American Rare Earths produces first Wyoming oxides
Indonesia president signals intention to go after illegal mines
Nevada permit clock starts as Orla eyes 2028 South Railway gold
Uganda targets higher exports with first large-scale gold mine
Uganda has inaugurated its first large-scale gold mine, a $250 million Chinese-owned project in the country’s east that will also refine the bullion to 99.9% purity, according to a statement from the president’s office.
The landlocked east African country, which has a variety of minerals including copper, cobalt and iron ore, wants to expand its mining industry and position itself as a major gold producer and exporter.
Last year Uganda raised $3.4 billion from gold exports, according to central bank data, about 37% of the country’s total export revenue. The figure includes the re-export of gold brought into the country, with nearly all its domestic production from small-scale artisanal miners.
While its gold export earnings have increased in recent years, it is still far behind Africa’s largest bullion producer Ghana, which raised $11.6 billion from shipments of the metal last year.
“In order to wake up in the minerals sector, we must have full value addition for all minerals like gold, lithium, tin among others,” President Yoweri Museveni said in a statement issued late on Saturday.
The Wagagai Gold Mining Project, owned by Wagagai Mining (U) Limited and covering just over nine square kilometres in Busia district, was inaugurated by Museveni on Saturday.
US eyes minerals cooperation in province home to Reko Diq
The United States signaled a renewed interest in partnering with Pakistan on critical minerals and hydrocarbons, with Secretary of State Marco Rubio highlighting the potential for joint economic ventures in a statement marking Pakistan’s Independence Day.
The announcement comes amid a thaw in Washington–Islamabad relations and follows a recent trade agreement that Pakistan says will lower tariffs and attract greater US investment. Pakistan’s Commerce Minister Jam Kamal indicated that US companies will be offered opportunities in Balochistan’s mining sector, including lease concessions and joint venture arrangements with local firms.
Balochistan and the Reko Diq advantage
Balochistan hosts some of Pakistan’s most significant mining assets, among them Reko Diq, one of the world’s largest undeveloped copper-gold deposits.
Operated by Barrick Mining (NYSE: B) in partnership with the governments of Pakistan and Balochistan, the project is forecast to generate over $70 billion in free cash flow and $90 billion in operating cash flow across its lifespan.
A recent feasibility study expanded throughput expectations:
Phase 1: Increased from 40 to 45 million tonnes per year, now estimated to cost $5.6 billion (up from $4 billion).
Phase 2: Will process 90 million tonnes annually (up from 80 million).
The mine’s operating life was adjusted from 42 years down to 37 years, though untapped mineral resources could stretch that to as much as 80 years.
Nurol eyes Alamos’ Turkey mines stuck in $1 billion claim
The Kirazli gold project is located in a wooded region near Mount Ida – or Kaz, as it locally known – which produces huge amounts of oxygen and is home to diverse flora.
Turkey’s Nurol Holding is seeking to buy Alamos Gold Inc.’s local mines in a deal that could bring an end to the Canadian miner’s $1 billion claim against the government for alleged mistreatment.
The acquisition would include all three gold and silver projects owned by Alamos in the northwestern Canakkale province, people familiar with the Turkish conglomerate’s plans said, asking not to be named as the discussions are private.
Nurol declined to comment. Alamos didn’t respond to email and phone requests for comment.
The most advanced of the three sites, Kirazli, stalled in 2019 when Turkey’s government didn’t renew its licenses and later canceled a forestry permit. The site also became the target of environmental protests.
In 2021, two Alamos units filed an investment treaty claim against Turkey for “expropriation and unfair and inequitable treatment.” The company, which paid $40 million for the assets in 2010, argued its $250 million of investments unlocked over $1 billion of value and would generate $551 million in government revenues over the life of the project.
American Rare Earths produces first Wyoming oxides
The Halleck Creek rare earths project in Wyoming.
Ore from American Rare Earths’ (ASX: ARR) Halleck Creek project in southeast Wyoming has for the first time been made into light and heavy rare earth oxide concentrates for a Department of Defense-linked agency.
A research group assayed the concentrates to about 96.4% light rare earth oxides and 97.1% heavy rare earth oxides from 840 kg of ore composited from about 36 drill holes across the project, the company said Friday. These oxides are used in the production of permanent magnets.
“These results provide a very meaningful third-party validation that light and heavy rare earths oxides can be produced from the Halleck Creek allanite hosted ore body,” interim CEO Joe Evers said in a release.
Indonesia president signals intention to go after illegal mines
Indonesia will move to “rectify” illegal mines estimated to have caused $19 billion in state losses, President Prabowo Subianto said in his first State of the Nation address.
The government has identified 1,063 illegal mining sites and is seeking support to crack down on them, Prabowo said in the annual speech in Jakarta on Friday. The illicit mines may be causing 300 trillion rupiah in losses to the state, he said, without specifying over what time period.
Illegal and poorly regulated mining is a major problem in Southeast Asia’s largest economy, causing disproportionate environmental damage and depriving the government of tax revenue. However, any crackdown could impact the supply of major export commodities like coal, nickel and tin.
A push against illegal mining would follow the seizure of 3.1 million hectares of palm oil plantations that the government says have violated regulations. Prabowo has gotten tough on the sector, with his attorney general’s office launching a legal case against major producer Wilmar International Ltd.
Since coming to power in October, Prabowo has targeted the country’s vast commodity sector more aggressively than his predecessor. Alongside the Wilmar probe, the attorney general’s office is investigating corruption at state oil firm PT Pertamina. The Ministry of Environment also plans to punish companies in the Indonesia Morowali Industrial Park — a major nickel smelting center — for environmental breaches.
Nevada permit clock starts as Orla eyes 2028 South Railway gold
Orla Mining (TSX: OLA; NYSE: ORLA) said US authorities formally started the federal environmental impact process for the company’s South Railroad gold project in Nevada.
The decision by the US Bureau of Land Management, dated Thursday, opens public scoping until Sept. 12 under the National Environmental Policy Act, according to a company statement. Orla, which expects to receive all required state and federal permits within 12 months, is targeting first gold in early 2028.
“South Railroad is the next pillar in Orla’s organic growth strategy toward annual gold production of 500,000 ounces,” CEO Jason Simpson said in a Thursday press release. “We will work with our cooperating agencies to fast-track the timeline to onsite construction start, and ultimately first gold production.”
Located 700 km northeast of Las Vegas, South Railroad is a low-complexity, feasibility-stage heap leach project.
Orla is to update South Carlin’s mineral resource, reserve estimate and feasibility study before the end of the year.
Orla’s Toronto-traded shares were up C$0.12 at C$13.50 in early afternoon Thursday.
