Project Updates

Credit: Mark Agnor / Shutterstock

Producer of: Gold and silver​​​​​​​
Location: Eastern Serbia​​​​​​​
Reserves: 9.79 million tonnes​​​​​​​
Mine life: 10 years

The Coka Rakita project in Serbia is being developed as an underground mine by Dundee Precious Metals, a Canada-based gold mining company. The preliminary economic assessment (PEA) was completed in June 2024, with an initial capital cost projection of $381m. The project is estimated to yield 164,000oz of gold in the first five years and a further 129,000oz over its life.

Credit: Fenix Resources

Producer of: Iron ore​​​​​​​
Location: Yilgarn Craton, Western Australia​​​​​​​
Reserves: 10 million tonnes​​​​​​​
Investment: A$22.9m ($15.1m)

The Beebyn-W11 project, situated in Western Australia’s mid-west region, is being developed as a direct shipping ore operation by Fenix Resources, under an October 2023 agreement with owner Sinosteel Midwest Corporation. The project is set to commence operations in 2025 and has an estimated annual production capacity of 1.5 million tonnes of iron ore per year.

Credit: IMX Resources

Producer of: Graphite concentrate​​​​​​​
Location: Nachingwea, south-east Tanzania​​​​​​​
Reserves: 8 million tonnes​​​​​​​
Mine life: 17 years

Evolution Energy Minerals, a wholly owned subsidiary of Marvel Gold is developing the Chilalo graphite project in south-east Tanzania, Africa, as an open pit mine. The project, which has a projected mine life of 17 years, is estimated to contain a probable ore reserve of 8 million tonnes grading 10.5% total graphitic carbon.