Project Updates

Credit: Eldorado Gold Corporation

Producer of: Gold​​​​​​​
Location: Usak province, Turkey​​​​​​​
Reserves: 176.5 million tonnes
Mine life: 28 years

The Kışladag gold mine, which started commercial production in 2006, is being developed as an open pit mine. The project is owned and operated by Tuprag Metal Madencilik Sanayi ve Ticaret, a subsidiary of Eldorado Gold. Mining is being carried out in five phases, running until 2034. The first three phases are already completed. Kışladag produced 38,990oz of gold in Q2 2024.

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: Xanadu Mines

Producer of: Copper-gold concentrate​​​​​​​
Location: Omnogovi, Mongolia​​​​​​​
Reserves: 47.5 million tonnes​​​​​​​
Mine life: 30 years

Kharmagtai is a high-grade open-pit copper-gold project owned by Zijin, a global mining company, and Mongolia-based Xanadu Mines. The final investment decision on the project is expected to be taken in 2024, with first production anticipated by the end of 2027. Average annual production is estimated at 50,000 tonnes of copper and 110,000 ounces of gold.