On July 1, the stock price of Xingye Silver&Tin rose. As of the close on July 1, Xingye Silver&Tin gained 0.24% to 33.04 yuan per share. In terms of news: On June 30, Xingye Silver&Tin announced that its wholly-owned subsidiary, Xingye Gold (Hong Kong) Mining Co., Ltd., through its subsidiary, Atlantic Tin Pte. Ltd., currently holds 3,180,525 shares (75% equity) of Atlas Tin SAS (hereinafter referred to as the “Target Company”), making it the controlling shareholder of the Target Company. To fully control the project resources and rights, maximize the release of value from the tin ore assets, and enhance core competitiveness and sustainable operations, the company intends to acquire, through a newly established subsidiary outside China (not yet established, subject to final registration of equity transfer), the aggregate 1,060,175 shares (the remaining 25% equity) of the Target Company held by Toyota Tsusho Corporation and Nittetsu Mining Co., Ltd. (collectively, the “Counterparties”). As the new overseas subsidiary has not yet been incorporated, the company and its wholly-owned subsidiary Xingye Gold (Hong Kong) will first sign a Share Purchase Agreement with the Counterparties, which stipulates that the acquisition will be completed by an entity designated by the acquirer. On June 30, 2026, the company and Xingye Gold (Hong Kong) completed the signing of the Share Purchase Agreement with the Counterparties. Upon completion of this transaction, the company will indirectly hold 100% equity of the Target Company through its subsidiaries, achieving full ownership. Details of the acquisition are as follows: 1. The company will designate a newly established overseas subsidiary (not yet established, subject to final registration of equity transfer) as the transferee to acquire 848,139 shares (20% equity) of the Target Company held by Toyota Tsusho Corporation for a consideration of $15,300,000, funded by its own funds or self-raised funds. 2. Xingye Gold (Hong Kong), a wholly-owned subsidiary, will designate a newly established overseas subsidiary (not yet established, subject to final registration) as the transferee to acquire 212,036 shares (5% equity) of the Target Company held by Nittetsu Mining Co., Ltd. for a consideration of $7,813,570, funded by its own funds or self-raised funds. These two transactions together will acquire a total of 1,060,175 shares, representing 25% equity of the Target Company, for an aggregate consideration of $23,113,570. The transaction is accompanied by the signing of a Termination and Release Agreement, which will fully terminate the original Shareholders' Agreement of the Target Company upon completion of the closing, clarifying the historical rights and obligations of all parties. Regarding the mining rights of the transaction target, Xingye Silver&Tin introduced that the Target Company holds the Achmmach tin mine project, with the following details: 1. Basic Information of Mining Rights 2. Achmmach Tin Ore Resources In May 2026, Beijing SRK Resource Technology Co., Ltd. prepared the “Morocco Achmmach Project Competent Person's Report” in accordance with the JORC Code. As of December 31, 2025, with an underground mining tin cut-off grade of 0.27%, the mineral resources of the Achmmach project are as follows: The acquisition of all remaining equity held by the Japanese shareholder aims to achieve full ownership of the target company, terminate the original shareholder agreement, streamline the governance structure and enhance decision-making efficiency, secure full control of project resource rights and interests, maximize the release of value from the tin ore assets, strengthen synergy between operations in and outside China, and align with the company's global resource deployment strategy. Xingye Silver&Tin also outlined the impact of this transaction on the company: the target company has been included in the consolidated financial statements, and this acquisition of minority equity will not have a material impact on the company's current-period profit. In the future, all net profit of the target company will be attributable to shareholders of the publicly listed firm, continuously enhancing earnings attributable to parent company shareholders. The company has ample liquidity reserves, and there is no obstacle to paying the transaction consideration, which will not have a material adverse impact on the liquidity of daily operating funds. Following full ownership, the company can coordinate and advance mine construction and operations, leverage its mining development and management experience, accelerate project implementation, solidify tin resource reserves, and have a positive effect on the company's long-term operating performance. On June 26, Xingye Silver&Tin stated on an interactive platform while responding to investor inquiries that secondary market stock prices are affected by multiple factors such as the macro environment, industry cycles, and market sentiment. The company attaches great importance to secondary market performance, will continue to strengthen investor relations management and market communication, actively carry out information dissemination and market capitalization management, and earnestly safeguard the legitimate rights and interests of all shareholders. On June 26, Xingye Silver&Tin stated on an interactive platform while responding to investor inquiries that, in accordance with the JORC Code, the Competent Person SRK uses only the current Measured and Indicated Mineral Resources as the basis for ore reserve conversion and production scheduling. However, in actual operations, through ongoing production drilling and exploration activities, the company may upgrade a portion of Inferred Mineral Resources and subsequently incorporate them into the actual mine mining and processing plan. Furthermore, the stope shapes generated by SRK using Deswik software through stope optimization may not align with the stope layout adopted in the company's daily production planning. Therefore, the company's future actual production schedule and operational performance may differ from the production schedule and related forecasts presented by SRK. On the performance front: Xingye Silver&Tin disclosed in its Q1 report that from January to March 2026, the company achieved operating revenue of RMB2,129.8691 million, up 85.32% YoY; net profit attributable to shareholders of the listed company was RMB1,337.6722 million, up 257.32% YoY. As of March 31, 2026, the company's total assets amounted to RMB19,688.8316 million, and net assets attributable to shareholders of the listed company were RMB10,825.4666 million. Operating Revenue Composition: For January to March 2026, the operating revenue of the company's main mineral products as a share of total operating revenue was as follows: ore-derived silver revenue was RMB1,410.1104 million (66.21%), ore-derived tin revenue was RMB234.0354 million (10.99%), ore-derived zinc revenue was RMB228.1249 million (10.71%), ore-derived lead revenue was RMB71.8509 million (3.37%), ore-derived antimony revenue was RMB53.1029 million (2.49%), ore-derived gold revenue was RMB51.0181 million (2.40%), ore-derived iron revenue was RMB44.1733 million (2.07%), ore-derived copper revenue was RMB35.6489 million (1.67%), and ore-derived indium revenue was RMB0.5241 million (0.02%). Among these, the combined operating revenue share of ore-derived tin and ore-derived silver reached 77.19%. Xingye Silver&Tin's Q1 report announcement stated: operating profit for the current period increased 238.16% YoY, total profit increased 236.36% YoY, and net profit attributable to owners of the parent company increased 257.32% YoY. The main reasons: During the reporting period, the selling prices of the company's main mineral products such as silver and tin rose compared with the same period last year; Yubang Mining's capacity was gradually released, leading to significant YoY increases in ore-derived silver production and sales volume; and the disposal of a 60% stake in Shuangyuan Nonferrous generated investment income of RMB321 million. Xingye Silver&Tin's 2025 annual report shows that in 2025, the company achieved operating revenue of RMB5,555.2536 million, up 30.09% YoY; total profit of RMB2,096.2370 million, up 18.75% YoY; and net profit attributable to shareholders of the listed company of RMB1,704.2393 million, up 11.40% YoY. Xingye Silver&Tin’s announcement shows: In 2025, the operating revenue of the company's main mineral products as a share of total operating revenue was as follows: ore-derived silver revenue was RMB2,175.7825 million (39.17%), ore-derived tin revenue was RMB1,649.6398 million (29.70%), ore-derived zinc revenue was RMB975.8673 million (17.57%), ore-derived lead revenue was RMB220.9450 million (3.98%), ore-derived iron revenue was RMB180.3799 million (3.25%), ore-derived copper revenue was RMB133.0043 million (2.39%), ore-derived antimony revenue was RMB100.3568 million (1.81%), ore-derived gold revenue was RMB82.3402 million (1.48%), and ore-derived bismuth revenue was RMB16.6744 million (0.30%). Among these, the combined operating revenue share of ore-derived tin and ore-derived silver reached 68.86%. Regarding the company's main business and key performance drivers, Xingye Silver&Tin stated in its 2025 annual report: The company is a large mining group principally engaged in the exploration, mining, and beneficiation of non-ferrous and precious metals. As of the disclosure date of this report, the company has over 20 subsidiaries, including 8 mining companies in operation: Yinman Mining, Qianjinda Mining, Yubang Mining, Rongguan Mining, Xilin Mining, Rongbang Mining, Ruineng Mining, and Bosheng Mining. The Achmmach tin mine under Atlas Tin SAS, a subsidiary of Atlantic Tin, is in the construction phase; Tanghe Shidai Mining is in suspension, while Yitong Mining and Yunnan Xigui are in the exploration phase. Hainan Fund is primarily engaged in equity investment management; Xingye Gold (Hong Kong) is mainly engaged in metals and mining trade and corporate M&A, responsible for expanding into markets outside China and acquiring high-quality overseas mineral resources; Hainan International Trade and Tianjin International Trade are primarily engaged in non-ferrous metal ore product sales and some raw material procurement; Xingye Ruijin primarily undertakes process research, technology R&D, and upgrading in areas such as prospecting, mining and beneficiation, and comprehensive tailings recycling. Tibet Shannan Antimony Gold, Tibet Xinda Mining, and Xing'an League Fuxingtun Mining serve as the company's regional resource integration platforms. During the reporting period, the company successfully acquired an 85% stake in Yubang Mining. According to statistics from the Silver Institute as of the end of 2023, Yubang Mining's single silver mine ranks first in Asia and fifth globally. This acquisition further strengthened the company's resource advantages and laid a solid resource foundation for its sustainable development. At the same time, using its subsidiary Xingye Gold (Hong Kong) as the investment vehicle, the company intensified investments in mineral resources outside China and successfully acquired a 100% stake in Atlantic Tin, a key move in executing its "going global" strategy. Based on the large-scale tin mine classification standard in the "Classification Standard for Resource/Reserve Scale of Mineral Resources" (DZ/T 0400-2022), the Achmmach tin mine owned by Atlantic Tin is now equivalent to five large deposits. Through this consolidation of overseas tin ore resources, the company has further refined its international tin layout and reserved vital strategic resources for long-term development. The company's main performance is derived from its non-ferrous metal mining and beneficiation business. During the reporting period, revenue from this segment accounted for 99.64% of total 2025 operating revenue. The main factors influencing the operating performance of the mining and beneficiation segment include the production and sales volume of major products, market prices, and the costs of the non-ferrous and precious metal mining and beneficiation business. Regarding its operating plan, Xingye Silver&Tin stated in its 2025 annual report: 2026 is the final year of the company's "Second Three-Year" Plan. The board will closely focus on the theme of high-quality development, fully implement established work objectives, continuously deepen the concept of "trust and collaboration," and make an all-out push toward the plan's concluding goals, with a focus on the following: 1. Uphold the bottom lines of safety and environmental protection, using the 2026 "Year of Implementing Safety Management" as a lever to fully enforce safety responsibilities, consolidate the achievements of the "Year of Collective Safety Calm," and enhance risk anticipation and process control to resolutely prevent all types of safety and environmental accidents, achieving safe, stable, and green-low carbon development. 2. Vigorously advance key project construction, strengthen whole-process management of project budgets, schedules, and quality, and coordinate the implementation of projects including the 2.97 million mt capacity upgrade and expansion at Yinman Mining, the 8.25 million mt capacity upgrade and expansion at Yubang Mining, the Morocco project, and the Budun Yingen Mining (trusteeship) project, ensuring they are completed and reach full production on schedule to release capacity benefits. 3. Continue to intensify exploration and resource increase efforts, balance the relationship between production operations and geological exploration, steadily advance exploration at existing mines and surrounding areas, accelerate resource-to-reserve conversion and upgrades, and continuously strengthen the resource foundation. 4. Deepen industrial synergy and resource integration, leverage the core regional advantages of Inner Mongolia, steadily expand overseas resource deployment; adhere to silver and tin as the main business direction, enriching and optimizing the resource portfolio. Solidly advance the subsequent acquisition and integration of Weiling Shares, actively track high-quality mineral project opportunities in and outside China, and enhance overall competitiveness through industrial synergy-driven M&A. 5. Further strengthen institutional enforcement and internal control management, ensure that all systems, processes, and control requirements are effectively implemented, and elevate the company's refined management level; reinforce enforcement capacity to guarantee that production plans, comprehensive budgets, and all work deployments are fully executed, and promote deep integration of corporate culture and operational management. 6. Push forward preparations for a Hong Kong listing at full speed, accelerate the establishment of dual capital market platforms in and outside China, enhance cross-border capital operation capabilities, provide stronger financial support for resource integration and strategy execution, and propel the company's high-quality sustainable development to a new level. A Guosen Securities research report dated April 24 showed: The company's production of major mineral species has steadily increased in recent years. In 2025, growth was driven by both higher silver prices and volumes, while the surge in tin prices offset the impact on production volume. Externally-driven M&A achieved notable results, lifting silver and tin resource reserves to a new level. In 2025, the company completed two major strategic acquisitions. 1) Acquisition of an 85% stake in Yubang Mining: The company acquired the 85% stake for RMB2.388 billion in January 2025. Yubang Mining is the largest single silver mine in Asia and the fifth largest globally. This acquisition increased the company's silver metal resources to 29,800 mt, significantly elevating its industry standing. 2) Acquisition of a 100% stake in Atlantic Tin: The company completed the acquisition in August 2025, gaining its Achmmach tin mine in Morocco. The mine holds tin metal resources of 213,300 mt, equivalent to five large tin deposits, boosting the company's total tin metal resources to 391,600 mt. Risk warnings: risks that the company's resource development progress falls short of expectations; risk of wild swings in metal prices.

US mineral sands producer Atlantic Strategic Minerals (ASM) announced the completion of the feasibility study (FS) for its monazite project, confirming the technical feasibility and a fast track to production for constructing a domestic rare earth processing facility. The study shows that, in its initial phase, the project will build a demonstration plant that utilizes existing by-product streams to produce 1,000 mt of monazite concentrates annually, providing an immediate domestic source of rare earth raw material. Through further expansion and processing of third-party raw materials, capacity can be increased fivefold to approximately 5,000 mt per year. The company stated that the monazite project is built on existing operational foundations, and the demonstration plant can be developed and commissioned within approximately 12 months.

Canadian International Trade Minister Sidhu Maninder revealed in an interview that Ottawa and Tokyo are negotiating cooperation options, including joint mining projects, offtake agreements, and joint stockpiling for minerals such as graphite and gallium. "We are providing Japan with opportunities to develop Canada's critical minerals." He cited the graphite offtake agreement between Nouveau Monde Graphite and Panasonic as an example to illustrate this point, noting that graphite is a critical material for batteries. Sidhu is leading a large delegation to Tokyo, which includes nearly 300 representatives from 180 enterprises and organizations, marking the largest such mission by this North American country in the Asia-Pacific region. Japan and Western governments and manufacturers have been seeking secure supplies of rare earth minerals.

Nigerian officials have announced the country’s most significant critical minerals discovery in recent years, as Africa’s largest oil producer seeks to diversify its economy and position itself as a key supplier of materials needed for the global energy transition. Last week, at the African Natural Resources & Energy Investment Summit in Abuja, Nigeria announced the discovery of a new polymetallic ore field in Kaduna State, including high-grade deposits of platinum group metals, gold, nickel, lithium, and rare earths. The Minister of Solid Minerals Development, Dele Alake, described Kaduna as a “world-class” metallogenic province and one of the most significant advances in the country’s mining sector in recent years. The discovery was jointly made by private company Steron Mining and the Nigerian Geological Survey Agency (NGSA), and was later confirmed by NGSA.

U.S. Senators Lisa Murkowski of Alaska and John Hickenlooper of Colorado have introduced the Earth MRI Reauthorization Act, which would extend funding for the U.S. Geological Survey’s Earth Mapping Resources Initiative (Earth MRI) through 2031. Earth MRI combines airborne geophysical surveys, geologic mapping, geochemical sampling and advanced data analytics to improve understanding of critical minerals, geothermal resources and subsurface geology. The program provides publicly available geological data that help reduce exploration risk and development costs for mining companies. According to U.S. officials, mineral exploration spending in Alaska has more than doubled since the initiative began. The proposed legislation would maintain support for critical minerals exploration while expanding the program to include natural hydrogen resources and enhanced geological hazard assessments, further strengthening the foundation for future domestic critical mineral supply chains.

Indonesia's Ministry of Energy and Mineral Resources (ESDM) has officially released the benchmark mineral price (HMA) for the first half of July 2026. The HMA for this period is as follows: nickel price at US$17,593.33/tonne, down from US$18,642.33/tonne in the second half of June 2026, representing a decrease of US$1,049.00/tonne, or 5.63%. Meanwhile, the benchmark prices for other minerals are: cobalt at US$55,854.00/tonne, iron ore at US$1.51/tonne, and chromite ore at US$6.37/tonne. According to SMM's internal calculation model, based on simulations for pyrometallurgical ore (20% Fe, 1% Cr, 0.05% Co) and hydrometallurgical ore (45% Fe, 2% Cr, 0.10% Co), the benchmark nickel ore prices (HPM) for different grades have changed as follows: Ni 1.2%: US$47.40/wmt (down US$2.13) Ni 1.3%: US$51.86/wmt (down US$2.39) Ni 1.4%: US$56.58/wmt (down US$2.95) Ni 1.5%: US$61.49/wmt (down US$3.24) Ni 1.6%: US$66.64/wmt (down US$3.55)

Coal India Ltd. (CIL) plans to invest around INR 19 billion (₹1,900 crore) in research and development by FY2030 as it accelerates technological innovation and energy transition efforts. The company's R&D spending rose fourfold to INR 2.45 billion in FY2025, supported by the establishment of the National Centre for Coal and Energy Research (NaCCER). CIL is currently advancing 19 R&D projects worth INR 2.25 billion and collaborating with leading academic institutions on clean coal, carbon capture, critical minerals, mine repurposing, and advanced mining technologies to strengthen its long-term competitiveness.

On 25,June,Premier African Minerals Limited ("Premier" or the "Company") has provided an update on the optimisation progress of the upgraded flotation plant at the Zulu Lithium and Tantalum Project ("Zulu"), as well as on ongoing discussions regarding the extension of the Long Stop Date under the Company's prepayment and offtake arrangements. Managing Director Graham Hill commented that the initial results from the upgraded flotation circuit are very encouraging and represent the most positive operating performance seen from the plant to date. Although commissioning was cut short due to the exhaustion of available ore feed, the circuit demonstrated a significant improvement in concentrate quality and overall operating stability compared with the previous configuration. The immediate priority is to ensure sufficient ore is available on the ROM pad to support continuous operation, as flotation optimisation requires sustained operation over an extended period. Establishing an adequate stockpile before recommencing commissioning activities is considered the most efficient approach. The objective is to operate the plant continuously for approximately 30 days, which should provide the data and operating experience required to fully optimise the circuit and assess its long‑term performance. In parallel, the Company is engaging constructively with Canmax regarding a further extension of the Long Stop Date. Discussions are positive and Canmax is currently reviewing the latest operational data generated during commissioning. Operational Performance Initial commissioning of the upgraded flotation circuit has demonstrated encouraging performance improvements. Based on internal laboratory analyses conducted during commissioning, the upgraded circuit achieved rapid froth formation following start‑up and produced concentrate grades materially exceeding those previously achieved. Internal assay results recorded sample concentrate grades exceeding 5.0% Li₂O, with peak sample grades of up to 5.58% Li₂O. These results are preliminary in nature and should not be regarded as independently verified. The commissioning programme was curtailed by the exhaustion of available ore feed, preventing the plant from undergoing the extended period of continuous operation typically required to fully optimise and stabilise the flotation circuit. The limited ore availability reflects the Company's current financial position and the associated constraints on mining activities at Zulu, with operations continuing on a reduced scale due to insufficient resources to mobilise a large‑scale mining contractor. Nevertheless, the Board believes that the encouraging commissioning results achieved to date provide a strong platform for the next phase of optimisation work and anticipates that, subject to continued operational progress and stakeholder engagement, the Company will be better positioned to secure the resources necessary to support the mobilisation of a larger‑scale mining contractor capable of providing sufficient ore for sustained plant operations. The improved performance and throughput achieved during commissioning resulted in substantially all of the approximately 6,000 tonnes of ore made available for commissioning and optimisation activities being processed. As a result, additional ore will need to be mined and stockpiled before extended optimisation activities can recommence. Further optimisation, continuous operation and independent verification, where appropriate, will be required before the Company can fully assess the performance and operational capability of the upgraded flotation circuit. Regarding the handling of concentrate produced during commissioning and test work, the Company is currently evaluating options. Subject to obtaining any necessary approvals, including the consent of Canmax where required, and compliance with all applicable regulatory and contractual obligations, the Company may seek to market and sell certain quantities of concentrate produced during the commissioning process in country. No assurance can be given that any such sales will occur or as to the timing or terms of any such transactions. ROM Stockpile and Ongoing Optimisation Programme The improved performance of the upgraded flotation circuit resulted in the processing of substantially all of the approximately 6,000 tonnes of ore that had been made available for commissioning and optimisation activities. As flotation optimisation requires sustained and continuous operation over an extended period, the Company's immediate focus is on rebuilding ore inventories on the ROM pad to support a planned continuous operating campaign of approximately 30 days. Given the current reduced scale of mining activities, the Board believes that establishing an adequate ore stockpile prior to recommencing optimisation represents the most efficient use of available resources and will maximise the value of future optimisation activities. The Company is therefore prioritising the accumulation of sufficient ore feed to support an uninterrupted optimisation programme and enable a comprehensive assessment of plant performance under sustained operating conditions. Based on current mining and stockpiling activities, the Company expects to have sufficient ore available on the ROM pad to recommence plant operations during July 2026. This timetable remains subject to mining performance and other operational factors. Long Stop Date Discussions The Company has approached Canmax Technologies Co., Ltd. ("Canmax") regarding a further extension of the Long Stop Date (see announcement on 5 January 2026 for further information) under the existing prepayment and offtake arrangements. Discussions with Canmax are constructive and positive. As part of its review process, Canmax is currently assessing the latest operational and commissioning data generated by the upgraded flotation circuit, together with the broader technical progress achieved at Zulu. While discussions remain ongoing and no definitive agreement has yet been reached, the Board is encouraged by the engagement to date and believes that both parties remain committed to finding a mutually acceptable path forward. Under the existing prepayment and offtake arrangements, the Long Stop Date is the date by which Premier will have delivered either sufficient spodumene SC6, or provided cash settlement, to Canmax to settle the advance purchase amount provided by Canmax to Premier in full. As previously announced on 5 January 2026, Premier and Canmax agreed, subject to certain conditions, to extend the Long Stop Date to the earlier of 30 June 2026 or the date on which a reputable buyer acceptable to Canmax executed a binding agreement to settle and/or manage Canmax's Prepayment Amount plus interest on terms to be agreed by Canmax. Publication of Audited Accounts The Company's report and accounts for the year ended 31 December 2025 ("Accounts") are due for publication on or before 30 June 2026 ("Publication Date"). The Accounts are at an advanced stage of preparation and remain subject to final review and auditor signoff, including consideration of ongoing discussions regarding the proposed extension of the Long Stop Date. The Company continues to work towards publication by the Publication Date. Further updates will be provided as and when appropriate. Source: polaris.brighterir.com/public/premier_african_minerals/news/rns/story/rd623px

At the Rio de Janeiro Energy Summit on June 25, panelists stated that without direct government support, Brazil will not advance its critical minerals sector, given the country's lack of infrastructure, technology, and long‑term investment. Analysts noted that minerals have become a strategic asset essential for ensuring technological leadership and energy security, and should no longer be viewed merely as extractive commodities. They added that a sound legal and regulatory framework is key to providing predictability and certainty for long‑term investment in the industry. Marcos Mesquita, Strategic Vice President of LPG distributor Copa Energia, said the mining sector should focus on diversifying extraction operations into multiple minerals and their by‑products to increase revenue. Mesquita added that Brazil should not emulate China, as it can leverage its abundant water resources and dominant renewable energy generation to build a more sustainable industry platform.

Nuvau Minerals announced encouraging results from its 2026 winter drilling program at the Thundermine target in Quebec’s historic Matagami mining camp. Drill hole TM-26-001 intersected 6.10 meters grading 5.28 g/t gold, including a higher-grade interval of 3.10 meters grading 7.22 g/t gold. Drill hole TM-26-004 also returned 2.50 meters grading 3.15 g/t gold. The Matagami camp has historically been known for large-scale base metals production, having produced more than 10 billion pounds of zinc and nearly 1 billion pounds of copper since the 1960s. The latest Thundermine results suggest that, beyond its traditional VMS-style copper-zinc mineralization, the district may also host significant orogenic gold potential. Nuvau said a follow-up drilling campaign is scheduled to begin in July 2026, focusing on step-out drilling along strike and down dip from the TM-26-001 intercept to test the continuity and resource growth potential of the high-grade gold zone.