Anglo-Teck $53B merger may topple Escondida as copper leader
Namibia to boost sulphuric acid production as critical mineral output rises
Centerra Gold’s Mount Milligan PFS Outlines Mine Life to 2045, Delivering Growth with a Fully Funded, Disciplined $186 Million Growth Capital Plan
Savannah Resources lifts lithium reserves at Barroso project by 40%
Ukraine, US to scout for minerals deal investment projects
Nickel price gains after Indonesia seizes part of giant mine
Anglo-Teck $53B merger may topple Escondida as copper leader
Escondida is, for now, the world’s largest copper mine.
Anglo American (LON: AAL) and Teck Resources’ (TSX: TECK.A, TECK.B)(NYSE: TECK) planned $53 billion merger could create the world’s largest copper mine by the early 2030s, surpassing BHP’s Escondida in Chile, according to analysts.
The centrepiece of the deal is the integration of Teck’s Quebrada Blanca (QB) mine with Anglo’s Collahuasi operation. Together, they could generate about one million tonnes of copper annually, industry analysts say.
“It is absolutely feasible that a Collahuasi-QB complex could surpass Escondida’s level of copper out-turn in the early 2030s,” CRU Group analyst William Tankard said in a note.
A proposed 15-kilometre conveyor would link Collahuasi’s high-grade ore to QB’s processing facilities, adding the equivalent of a new mine’s output. The system is projected to deliver an extra 175,000 tonnes of copper per year between 2030 and 2049, at lower costs and shorter timelines than a standalone development.
If completed, the combined Anglo-Teck entity would rank among the world’s top five copper producers, with 1.35 million tonnes in output a year. In comparison, Escondida produced about 1.28 million tonnes of copper in 2024. The deal would also mark the mining sector’s biggest transaction of the decade.
Namibia to boost sulphuric acid production as critical mineral output rises
The Haib copper deposit is in the extreme south of Namibia close to the border with South Africa, which is defined by the course of the Orange River.
Namibia is set to increase its sulphuric acid production in response to rising critical mineral output, with Green Metals Refining and Vedanta announcing plans on Thursday to set up and revive plants, respectively.
Sulphuric acid is widely used in the extraction processes for metals including uranium, copper, manganese and rare earths used in clean energy technologies.
Namibia, the world’s third-largest producer of uranium, is emerging as a leader in the green energy sector, with eight active critical minerals projects set to position it at the forefront of global green energy initiatives.
London-based Green Metals Refining plans to spend an initial $59 million on the first phase of a plant that will produce 175,000 metric tons of sulphuric acid a year.
The plant’s annual output is expected to eventually rise to 720,000 tons, the company said in a statement on Thursday.
“As Namibia is a net importer of sulphuric acid with a large pipeline of acid-consuming projects, we have established a compelling business case that can benefit local third-party metals projects,” Green Metals Refining CEO Derk Hartman said.
The sulphuric acid plant will be situated within the company’s planned manganese refinery in the port city of Walvis Bay, supplying the country’s uranium and copper mines. Both plants are expected to be commissioned by the end of 2027.
Centerra Gold’s Mount Milligan PFS Outlines Mine Life to 2045, Delivering Growth with a Fully Funded, Disciplined $186 Million Growth Capital Plan
TORONTO, Sept. 11, 2025 (GLOBE NEWSWIRE) -- Centerra Gold Inc. (“Centerra” or the “Company”) (TSX: CG) (NYSE: CGAU) is pleased to announce the results of a Pre-Feasibility Study (“PFS”) for its Mount Milligan mine (“Mount Milligan”) in British Columbia, confirming a life of mine (“LOM”) extension of approximately 10 years, to 2045. The extension is driven by disciplined future investments, including increasing process plant capacity in 2029 and constructing a second tailings storage facility (“TSF”) in the first half of the 2030s. These initiatives reinforce Mount Milligan as a long-term, low-cost contributor to Centerra’s production profile and cash flow generation in a top tier mining jurisdiction.
President and CEO, Paul Tomory, commented, “Mount Milligan’s LOM extension marks a key milestone in advancing Centerra’s organic gold growth strategy. Recent step-out and infill drilling programs have confirmed the continuation of mineralization to the west of the current open pit. Incorporating this drilled inventory, the PFS outlines a 10-year LOM extension, to 2045, supported by phased, manageable non-sustaining capital expendituresNG totaling $186 million, most of which is not required until the early-to-mid-2030s, that we expect to fully fund from available liquidity. The PFS reaffirms Mount Milligan’s solid economics, underpinned by consistent production, disciplined capital deployment, and low all-in sustaining costs on a by-product basis
Savannah Resources lifts lithium reserves at Barroso project by 40%
The Mina do Barroso project is set to be Europe’s first significant producer of spodumene.
Savannah Resources (LON: SAV) has boosted the reserve estimate for its Barroso lithium project in northern Portugal by 40% after completing additional prospecting work, further cementing its status as Europe’s largest spodumene deposit.
The London-listed company now pegs reserves at more than 39 million tonnes, up from a previous estimate of 28 million tonnes. Shares in Savannah rose 2.4% on the news, giving the company a market capitalization of £104 million ($141.5 million).
Savannah plans to develop four open-pit mines at Barroso, with the capacity to produce enough lithium each year to supply batteries for about 500,000 electric vehicles. Production is expected to begin in 2027, subject to permitting and financing.
Once operational, the project is forecast to process 1.5 million tonnes annually over an estimated 14-year mine life. This projection is based on a resource of 20.5 million tonnes grading 1.05% lithium oxide.
Local and environmental pushback
Despite its strategic significance, the project has been met with strong opposition from local communities and environmental groups. The Barroso region, recognized as a World Heritage agricultural site since 2018, has raised concerns over potential impacts on land use, water, and biodiversity.
Ukraine, US to scout for minerals deal investment projects
Ukrainian officials and a team from the US International Development Finance Corporation will carry out site visits to identify investment projects as part of Kyiv’s minerals deal with Washington, Ukraine’s economy minister said on Saturday.
Ukraine and the US signed the deal, which had been heavily promoted by President Donald Trump, in April, giving the United States preferential access to new Ukrainian minerals projects in exchange for investment.
The agreement is seen by Kyiv as a way of securing US financial help to revive its economy and infrastructure – both battered by the war ignited by Russia’s 2022 full-scale invasion – while ensuring continued US support for Ukraine’s defence.
Ukraine’s Economy Minister Oleksiy Sobolev said the government was committed to advancing quickly to carry out the agreement and wanted to identify three pilot investment projects within the next 18 months.
“Right now, there are site visits … from the US, and we are going to the regions tomorrow with them to look for an investment pipeline,” Sobolev told a conference attended by Ukrainian, US and European officials in Kyiv.
The US has been Ukraine’s single largest military donor as it battles Russian forces. But since his return to the White House this year, Trump has argued the US should get something back for its aid to Kyiv.
Half the revenues the Ukrainian government earns from new mineral extraction under the deal would go to a joint investment fund with profits split between Kyiv and Washington.
Nickel price gains after Indonesia seizes part of giant mine
Nickel rose after Indonesia seized part of a giant mine semi-owned by top Chinese producer Tsingshan Holding Group Co., underlining risks to ore output in the world’s largest supplier.
A government task force on Thursday took control of about 148 hectares of the operation owned by PT Weda Bay Nickel — the world’s largest mine for the battery metal — over an alleged permit violation. France’s Eramet SA, one of the company’s shareholders, has said it sees no impact on operations at this stage.
Still, the seizure highlights ongoing challenges to reliable supply from Indonesia, which accounts for well over half of global nickel output. President Prabowo Subianto, who has outlined bold and costly plans for the nation, has also promised a crackdown on illegal mining, which may disrupt the flows of ore to local processors.
Smelters in Indonesia have been dealing with a tight ore market all of this year, due to high rainfall and low issuance of government mining quotas. At the same time, LME nickel prices have spent months range-trading at low levels, held back by disappointing demand from the electric vehicle battery sector.
Nickel futures advanced 1.6% to settle at $15,391 a ton on the LME. Copper added 0.2% and aluminum rose 0.6%.
