On April 29, Tibet Huayu Mining released its Q1 2026 production and operation data announcement. The report showed that in Q1 2026, zinc concentrates production totaled 2,070 mt in metal content, lead-antimony concentrates with silver content reached 1,489 mt in metal content, and gold concentrates reached 323.6 kg.

MMG Limited (MMG) has made a strong start to 2026, delivering solid first quarter production results and safety improvements.Total copper production, including copper in concentrate and cathode, increased nine per cent year-on-year to 128,698 tonnes. A result underpinned by robust performances at Las Bambas and Kinsevere. Precious metals production was also impressive, with gold output increasing by 24 per cent and silver by 27 per cent compared with the prior year period. Group precious metals production totalled 32,177 ounces of gold and 2,888,861 ounces of silver. Total zinc production was 50,263 tonnes, three per cent lower than the prior year.

First Quantum Minerals Ltd. announced its preliminary 2025 production results alongside production, cost and capital expenditure guidance for 2026–2028. The company produced approximately 396 kt of copper in 2025, within revised guidance, supported by the achievement of commercial production at the Kansanshi S3 expansion late in the year, while gold output reached 152 koz, exceeding the top end of guidance. Nickel production at Enterprise also surpassed expectations. Looking ahead, First Quantum slightly lowered copper and gold guidance for 2026–2027, mainly reflecting higher maintenance requirements and lower grades at Sentinel and Kansanshi, while nickel guidance remains unchanged. Unit copper costs and AISC are expected to be higher than previously guided, and 2026 capital expenditure has been revised upward due to deferred spending from 2025. The company also noted progress at Cobre Panamá, following the Panamanian government’s decision to allow the processing of stockpiled ore.

Endeavour Silver Corp. announced its consolidated production and cost guidance for 2026, covering the Terronera, Guanaceví and Kolpa mines. The company expects silver production to reach 8.3–8.9 million ounces in 2026, with gold output of 46,000–48,000 ounces from Terronera and Guanaceví. Including base-metal by-products from Kolpa, total silver-equivalent production is forecast at 14.6–15.6 million ounces. Consolidated cash costs are guided at US$12.00–13.00 per payable silver ounce, while all-in sustaining costs are estimated at US$27.00–28.00 per ounce. Management highlighted 2026 as a turning point, marking Terronera’s first full year of production and Kolpa’s full integration, positioning Endeavour as a larger and more diversified silver producer.

Hudbay Minerals Inc. announced preliminary 2025 production results, confirming that the company achieved its consolidated copper and gold production guidance despite wildfire-related shutdowns and temporary operational disruptions during the year. Full-year copper output reached approximately 118,188 tonnes, while gold production totaled about 267,934 ounces. Fourth-quarter performance was strong, with copper production of roughly 33,069 tonnes and gold production of around 84,298 ounces, supported by high-grade mining at the Pampacancha satellite deposit in Peru, which allowed Peru gold output to exceed the upper end of guidance. Following the closing of the Copper World joint venture, Hudbay’s pro-forma cash position increased to approximately US$992 million, with total available liquidity exceeding US$1.4 billion.

On January 6th, Newmont provided an update on the bushfires near its Boddington Mine in Western Australia, noting that the fires were contained on December 28, though ongoing monitoring will be required. No injuries were reported and critical infrastructure remained secure, although a portion of the site’s water supply infrastructure was damaged. Operations were suspended on December 24 and have since resumed. However, the processing plant is currently operating at 50–60% capacity until the main water supply is restored, which is expected by February. Newmont estimates an impact of approximately 60 koz of gold in Q1 2026, while 2025 production was not affected.

Compañía de Minas Buenaventura announced that its San Gabriel gold project in Moquegua, Peru, has produced its first doré bar during commissioning, in line with the planned timeline. The company is completing remaining approvals to begin full-scale production and commercialization. San Gabriel is expected to reach 2,000 tpd processing capacity in 2026, with gold output guided at 70,000–80,000 oz. The project will replace declining production from mature mines and support Buenaventura’s medium-term growth.

PT Freeport Indonesia expects a sharp drop in its 2026 gold output following the September 2025 wet-material landslide at Grasberg Block Cave, cutting projections from 33 tons to 26 tons. Full recovery of the GBC mine is anticipated in 2027, when gold production is projected to rebound to 39 tons and rise to 43 tons by 2028–2029. Copper cathode targets for 2026 were also revised down from 700,000 to 478,000 tons, with safety prioritized before operations resume in March 2026.

【SMM News Flash】PT Freeport Indonesia CEO Tony Wenas said on Monday that due to ongoing recovery efforts following the slurry flow accident, the company plans to produce 478,000 mt of copper cathode and 26 mt of gold in 2026, lower than its initial target. The slurry flow accident at the Grasberg Block Cave mine (GBC) on September 8 resulted in seven fatalities. Wenas stated, "We will continue the recovery of the Grasberg Block mine, aiming to resume operations in Q1 next year." He noted that full restoration of the Grasberg Block Cave mine is expected in 2027. PT Freeport Indonesia has revised down its production plan for next year. The company's initial target was to produce approximately 700,000 mt of copper and 45 mt of gold.

According to the Mining.com website, Ghana, Africa's largest gold producer, has launched its strictest audit in a decade, targeting the largest miners with the aim of recovering losses and strengthening oversight. West African countries are intensifying scrutiny of mining companies to ensure compliance with relevant regulations and safeguard fiscal revenues from the impact of soaring commodity prices. On October 20, international gold prices hit a new high of $4,380 per ounce. This audit involves major gold miners including Newmont, AngloGold Ashanti, and Gold Fields. According to a government letter forwarded to miners via the Ghana Chamber of Mines by the regulator Minerals Commission (MC) on October 13, the audit will be led by government auditors, forensic accountants, and independent consultants. From November 1 to June 2026, MC will deploy teams to conduct field and financial audits of mineral resources nationwide to review their production, mineral trading, tax and royalty payments, and environmental compliance. Mining companies must submit production logs for the past 10 years, financial records for the last 3 years, all permits, inventory lists, and shipping manifests by October 31. As required by the letter, enterprise reports must be submitted within 30 days after each field trip. MC declined to comment. The Ministry of Mines did not immediately respond to a request for comment. True Revenue Potential The mining sector is the second-largest industry in the world's top cocoa producer, with output valued at 17.7 billion Ghanaian cedis ($1.68 billion) in 2024, as a 25.1% increase in gold production helped the country weather its worst economic crisis in a decade. Ghana also exports bauxite, diamonds, and manganese, with gold output this year expected to rise to 5.1 million ounces from 4.8 million ounces. The MC letter detailed a phased audit plan, starting with Gold Fields' Damang and Perseus mines in November and concluding with Canadian Stella Gold's Kibi mine in June 2026. Each enterprise has received a letter with a detailed schedule, said a company executive who asked not to be named. AngloGold Ashanti, Asante Gold, Gold Fields, Newmont, and Stella Gold did not immediately respond to requests for comment. The Ghana Chamber of Mines also did not respond immediately. Ghana's last audit was in 2015, which involved hiring external investors for assistance, but some companies questioned it, according to a person familiar with the negotiations. Said Boakye, an economist and researcher at the Accra Institute of Fiscal Studies, told Reuters that special audits should be conducted annually rather than periodically. "This is the only way to formulate a sound tax policy and tap into the sector's true revenue potential." The government is vigorously advancing comprehensive reforms to increase revenue. The Minister of Mines stated that the country plans to shorten license durations and mandate direct benefit-sharing with local communities, marking the largest reform of mining laws in nearly 20 years.