[Lead Smelter Updates] It was reported that Yuguang Gold and Lead Group stated on an interactive platform that Ye Group holds the mining rights to the Shuikoushan lead-zinc mine and the Baifang copper mine, with 3 mines (the Kangjiawan mine and the lead-zinc mine both fall under the Shuikoushan lead-zinc mine mining rights) and 1 beneficiation plant, possessing an annual mining and beneficiation capacity of 860,000 mt of raw ore. Its captive mines can produce lead concentrates, copper concentrates, gold concentrates, and other mineral products, providing raw material support for the company.

SMM May 15 News: In May 2026, the global molybdenum market remained in a persistently tight supply-demand pattern, with prices extending and accelerating the upward trend seen in April. International molybdenum oxide prices kept surging at high levels, while domestic molybdenum concentrate and ferromolybdenum prices repeatedly hit new stage highs.

Zambia banned sulphuric acid exports in September 2025 and subsequently implemented a licensing policy in March this year. Zambia's Minister of Commerce, Trade and Industry Chipoka Mulenga told Reuters on Thursday that the government had authorized Chambishi copper smelter and Mopani copper mine to resume sulphuric acid shipments after local inventory had been replenished. Mulenga also said Zambia could expand export licenses if supply conditions continued to improve. Documents seen by Reuters showed that the Ministry of National Defense also authorized chemical trader Alliswell Investment Limited to ship 5,000 mt of sulphuric acid. An industry source said Mopani had not yet received an export license. Mopani, Chambishi, and Alliswell did not respond to requests for comment.

SMM Morning Meeting Minutes: Overnight, LME copper opened at $14,043/mt, touched a high of $14,077/mt in early trading, then the copper price center gradually shifted lower to probe $13,917.5/mt, followed by wild swings before finally closing at $13,986/mt, down 0.7%, with trading volume at 22,000 lots and open interest at 277,000 lots, an increase of 2,465 lots from the previous trading day, indicating bears reducing positions. Overnight, the most-traded SHFE copper 2606 contract opened at 107,250 yuan/mt, immediately touched a high of 107,320 yuan/mt in early trading, then the copper price center quickly shifted lower to probe 106,690 yuan/mt, followed by a rise amid wild swings before finally closing at 107,024 yuan/mt, down 0.35%, with trading volume at 39,000 lots and open interest at 184,000 lots, a decrease of 4,131 lots from the previous trading day, indicating bulls reducing positions.

According to Mining.com, drilling by Canadian exploration enterprise San Lorenzo Gold at the Arco de Oro target within the Salvadora project in Chile indicated that the property may host several copper-gold deposits. San Lorenzo said on Friday (8th) that drill hole SAL-10-25 intersected 102 meters of mineralization at a depth of 153 meters with a gold grade of 1.33 g/mt, including 13 meters at the same depth with a gold grade of 2.21 g/mt. Nearby drill hole SAL-09-25 intersected 59 meters of mineralization at a depth of 238 meters with a gold grade of 1.07 g/mt, including 11 meters at a depth of 270 meters with a gold grade of 3.78 g/mt. "These drill holes indicate a larger mineralization system at Arco de Oro than previously recognized," said Terence Walker, Vice President of Exploration. "We appear to be entering the upper portion of a gold-rich porphyry copper-gold system that requires follow-up drilling." Calgary-based San Lorenzo has become one of the best-performing junior exploration companies on the Toronto Venture Exchange this year, with a series of discoveries at its Salvadora project in the Atacama Region of northern Chile. The project covers more than 90 square kilometers and is located approximately 15 kilometers from Codelco's long-producing El Salvador copper mine. Infrastructure including roads and power is well-established, with access to nearby mining services. Five Targets Arco de Oro is one of five porphyry and epithermal deposit targets at the Salvadora project. Earlier this year, early-stage drilling at the Cerro Blanco target intersected gold mineralization on multiple occasions, attracting investor attention and financing. In March, San Lorenzo raised approximately $20 million through a private placement to fund further exploration at Salvadora. San Lorenzo has been steadily expanding the extent of the deposit. Two months ago, the company added 29 square kilometers near Cerro Blanco by acquiring three nearby Rubi blocks and signing an option agreement. San Lorenzo said the geological setting at Salvadora is similar to other Andean porphyry deposits in Chile. Management noted that the broad mineralization intersections and multiple targets suggest the potential existence of a large-scale copper-gold mineralization system. Assay results from other drill holes at Arco de Oro have not yet been completed, and the company will continue drilling to verify the extension of the ore body, which remains open in all directions.

McEwen Copper said on May 11 that it has secured arrangements for a $2.4 billion loan package to help finance development of the Los Azules copper project in Argentina. Total project financing is expected to reach $4 billion, alongside a planned IPO later this year. The mine is targeting first production around 2029–2030 with annual copper cathode output exceeding 200,000 tons. Rising copper prices are helping reopen financing channels for major mining projects globally.