Mineral Resources Limited (MinRes) announced the restart of its wholly-owned Bald Hill lithium mine, citing sustained recovery in lithium prices. The mine was placed on care and maintenance in Nov 2024 to preserve 58.1Mt at 0.94% Li₂O.Located in Western Australia's Goldfields, Bald Hill has capacity of ~165,000 dmtpa of 5.1% spodumene concentrate (140,000 dmt SC6). Using existing inventory, equipment and workforce networks, MinRes can resume operations safely and quickly.Site activities ramp up in late May, crushing and mining start in June, first concentrate in July. First shipment from Port of Esperance expected Q1 FY27, full capacity Q2 FY27. Restart costs (incl. working capital) estimated at A$20m, incurred in Q4 FY26. FY27 guidance to be provided in August.

Jiangsu Lopal Tech Co., Ltd., through its overseas wholly-owned subsidiary Lopal Tech Perth Pty Ltd (hereinafter referred to as "Lopal Perth") and Global Lithium Resources Limited ("GL1") and MB Lithium Pty Ltd ("MB Lithium", together with "GL1", the "Sellers"), signed the "Tenements and Mineral Rights Sale Agreement". The subject matter of this transaction is the sellers' collectively held exploration tenements for five lithium mines in Western Australia, as well as the lithium mineral rights for another 11 mining areas. The transaction involves lithium exploration tenements located in the Pilbara region of Western Australia, approximately 150 km southeast of Port Hedland. Since acquiring the mineral rights in 2019, GL1 has continuously carried out exploration work on one of the core tenements, E45/4309, completing a total of 734 reverse circulation drill holes and 7 diamond drill holes, with drilling footage exceeding 102.5 km. According to the "Marble Bar Lithium Project Mineral Resource Estimate Report" prepared in 2022 in accordance with the JORC Code, the project has an ore resource of 18 million tonnes with an average lithium oxide grade of 1.0%. Based on relevant data, the mining area still has good exploration potential. The Company engaged a professional team from SRK Consulting (Hong Kong) Limited ("SRK") in December 2025 to conduct an on-site field inspection of the mining area and carry out due diligence regarding the geological conditions, resource estimation and exploration prospects. At the same time, the Company also engaged Australian law firm Herbert Smith Freehills Kramer in December 2025 to provide legal services including due diligence for the project. Pursuant to the agreement, Lopal Tech Perth Pty Ltd acquired the lithium exploration tenements and related assets held by Global Lithium Resources Limited and MB Lithium Pty Ltd in Australia for a consideration of AUD 14.85 million. The lithium mining project will subsequently require exploration, mining licence application, beneficiation and mining capacity construction, with an expected investment of over USD 200 million and a construction and production ramp-up period of approximately 2–3 years. Through its overseas wholly-owned subsidiary Lopal Perth, the Company signed the "Tenements and Mineral Rights Sale Agreement" with the counterparties GL1 and MB Lithium, acquiring the lithium exploration tenements and related assets held by them in Australia, with the transaction amount being AUD 14.85 million. 1. Counterparties (i) Counterparty 1 Name: Global Lithium Resources Limited Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: May 11, 2018 Major Shareholders: As of April 20, 2026, MINERAL RESOURCES LIMITED holds 9.85%, CANMAX TECHNOLOGIES CO LTD holds 9.45%, SINCERITY DEVELOPMENT PTY LTD holds 7.49%, YONGFANG GUO holds 6.23%, DIANMIN CHEN holds 5.32% Principal Business: GL1 is a lithium resource exploration and development company listed on the Australian Securities Exchange, primarily engaged in the exploration, development and future production of hard-rock lithium resources. (ii) Counterparty 2 Name: MB Lithium Pty Ltd Registered Address: Level 1, 16 Ventnor Avenue, West Perth WA 6005 Date of Establishment: June 10, 2021 Major Shareholders: GL1 holds 100.00%; MB Lithium is a wholly-owned subsidiary of GL1. Principal Business: MB Lithium holds the mineral rights related to the Marble Bar Lithium Project. 2. Agreed Product and Technical Specifications Any spodumene concentrate produced from the Manna Lithium Project with a lithium oxide (Li₂O) content of not less than 5% and meeting the specifications agreed by both parties. The Company has the right to reject products with a lithium oxide content of less than 4.5%. 3. Supply Term The initial term is 10 years from the date of the first supply of the agreed product. Subject to satisfaction of the relevant conditions, the Company has the right to extend the initial term by 4 years by giving notice within one month prior to the expiry of the initial term. 4. Supply Volume GLR shall supply to the Company annually 40% of the actual annual production of spodumene concentrate from the Manna Lithium Project. GLR shall use its best efforts to achieve an annual supply volume of at least 70,000 tonnes of the agreed product. 5. Product Pricing The pricing of the supplied products is based on the average of price indices published by SMM , Fastmarkets, Benchmark Minerals Intelligence, Asian Metal, Platts S&P Global and other agencies, subject to a certain price concession. 6. Supply Shortfall If a supply shortfall occurs during a contract year, GLR shall use reasonable efforts to make up such shortfall within three months after the end of the relevant contract year. If GLR fails to provide the shortfall supply to complete the delivery within such three-month period (the "rectification period"), GLR shall pay in full the price difference to the Company within 30 days after the end of the rectification period. 7. Prepayment Amount Subject to satisfaction of the conditions precedent for the prepayment, the Company shall pay GLR a prepayment of not more than US$75 million (the "Maximum Amount"), which shall be strictly used for the development expenditure of the Manna Lithium Project and the operation of the project after its completion. When the Company accepts the agreed products, such prepayment shall be applied to offset the payable purchase price in batches. Considering the extended period of the prepayment, GLR shall pay the Company a funding fee calculated at a compound annual interest rate of 5%. 8. Overview of the Investment Target GL1 (ABN 58 626 093 150) is an Australian listed company located in Western Australia, primarily engaged in the exploration and development of lithium resources. Its core asset, the Manna Lithium Project, is located 100 km east of Kalgoorlie, Western Australia, and is the third largest lithium resource project in the resource-rich Eastern Goldfields region. The project has a mineral resource of 51.6 million tonnes with an average lithium oxide grade of 1.0%. GL1 holds and operates the Manna Lithium Project through its wholly-owned subsidiary GLR (ACN 653 130 575). GL1 has obtained the mining lease for the lithium project and completed the project feasibility study. GLR expects to make a final investment decision (FID) for the Manna Lithium Project by the end of 2026. Following the FID, GLR will commence project construction, and the lithium project is expected to commence shipments in June 2028. This transaction represents an important measure for the Company to anchor its core business of lithium iron phosphate cathode materials and deepen its upstream resource layout. Currently, the Company's lithium iron phosphate business continues to expand in production and sales volume, its overseas capacity is progressing steadily, and the demand for stable supply and cost control of upstream lithium resources is increasing. Through this transaction, the Company will further enhance its lithium resource security capability, strengthen raw material supply stability and anti-cyclical resilience, improve vertical integration and overall competitiveness, which is in line with the Company's long-term development strategy and the interests of all shareholders. Source: China Securities Journal

(Washington, D.C. – February 10, 2026) After posting its strongest annual performance since 1979 last year, silver prices continued to set new highs in 2026, fueled by rising investor interest.

According to MiningNews.net, in Q1, Australia's exploration sector was experiencing a significant downturn, with key indicators such as financing, exploration investment, and corporate cash reserves showing stagnation or substantial declines. Consulting firm BDO described Q1 as "the most disheartening quarter in recent years" in its latest report. The poor start to 2025 was reflected in a sharp 19% drop in mineral exploration investment to AUD 635 million, the lowest level since Q2 2021. The average investment per company was AUD 860,000, the worst performance since Q1 2021. The average cash surplus of exploration companies fell by 3% to AUD 9.8 million. Only 26 companies were able to raise more than AUD 10 million, collectively raising AUD 1.57 billion, compared to 57 companies raising over AUD 2.17 billion in Q4 of the previous year. This marked the worst period in six years. Additionally, due to mergers and acquisitions, executive appointments, or the delisting of entities that had been suspended for an extended period, the number of companies listed on the Australian Securities Exchange (ASX) decreased by 17, leaving only 747. There were no initial public offerings (IPOs) during this period, the first time since 2020. Sherif Andrawes, Head of Natural Resources and Energy Research at BDO, stated that the company's analysis of the data revealed a "worrying" state of the exploration sector. Signs of capital discipline and cautious spending suggest that the situation may deteriorate further in the future, especially since the federal budget in May abolished support policies such as the Junior Minerals Exploration Incentive (JMEI), which may pose greater challenges for junior exploration companies. "The significant decline in financing and exploration expenditure indicates increased investor caution and rising market uncertainty," Andrawes said. "Our quarterly analysis shows a poor start to 2025. In previous quarters, exploration companies had demonstrated some resilience in the face of weak commodity prices, particularly for uranium and lithium." Financing for lithium companies dropped by 90% to AUD 68.95 million, while financing for uranium miners came to a complete halt. As a safe-haven asset, gold mining companies emerged as a bright spot. Among the 26 companies that raised funds, 16 were gold miners, particularly Predictive Discovery and Black Cat Syndicate. Gold mining companies raised AUD 621 million, more than double the amount raised in the same period last year. Copper mining companies raised AUD 122 million, and silver exploration companies raised AUD 120 million. "M&A activity in the sector has also increased, with major transactions including Gold Fields' acquisition of Gold Road Resources and Ramelius Resources' acquisition of Spartan Resources," Andrawes said. Given the current market volatility, BDO expects gold to continue to dominate the trend in H2 2025.

On the evening of May 26, Zijin Mining announced a preliminary plan to spin off its subsidiary, Zijin Gold International Co., Ltd. (hereinafter referred to as Zijin Gold International), for listing on the Hong Kong Stock Exchange (HKEX). The assets proposed for the spin-off and listing are a major focus of market attention, comprising eight world-class large-scale gold mines located in South America, Central Asia, Africa, and Oceania. These mines are the Buriticá gold mine, Norton Gold Fields, Rosebel gold mine, Aurora gold mine, Jilau/Talo gold mine, Akim gold mine (transaction completed on April 16, 2025), Left Bank gold mine, and Porgera gold mine. The total resources amount to 1,799.79 mt, with total reserves of 696.83 mt, and a 2024 production of 46.22 mt. It should be noted that Zijin Mining's gold mine resources total 3,973 mt, with reserves of 1,487 mt, and a total gold production of 73 mt in 2024. Based on the data from the aforementioned eight gold mines, the corresponding proportions within the company are approximately 45%, 47%, and 63%, respectively. For the Buriticá gold mine in Colombia, which has long been subject to illegal mining, the company has made special arrangements. The company stated that due to ongoing international arbitration related to the mine, there is uncertainty regarding the injection of equity in the Buriticá gold mine into Zijin Gold International before the resolution of the arbitration. To ensure the smooth progress of this restructuring and spin-off, the company currently plans to indirectly restructure the gold mine through entrusted operations and yield swaps. Upon completion of these arrangements, Zijin Gold International is expected to include the Buriticá gold mine in its consolidated financial statements, thereby integrating the revenue from this gold mine asset into Zijin Gold International. The Buriticá gold mine is one of Zijin Mining's largest gold mines in terms of gold production and is the only project among the company's 16 major gold mines in 2024 with a gold production exceeding 10 mt. Financial data disclosed by Zijin Mining show that Zijin Gold International achieved revenues and net profits of 21.268 billion yuan and 4.458 billion yuan (unaudited) in 2024 (pro forma data), accounting for 7% and 14%, respectively, of the company's figures for the same period. This highlights the profitability of the assets proposed for the spin-off and listing. In the context and objectives of this spin-off, Zijin Mining mentioned that it would broaden access to high-quality international investors, reduce overseas operational risks, enhance the competitiveness and flexibility of Zijin Gold International in overseas capital market financing and M&A transactions, and, given the upward cycle of gold prices, facilitate the revaluation of the company's gold assets. According to the disclosed plan, Zijin Gold International will remain a controlled subsidiary within Zijin Mining's consolidated financial statements after listing. It is initially proposed to issue no more than 15% of the total share capital of Zijin Gold International after the issuance on the main board of the HKEX, and to grant the underwriters an over-allotment option of no more than 15% of the shares issued. The issuance targets include overseas institutional investors, enterprises, and natural persons. In terms of equity structure, Zijin Mining holds 24% and 76% of the equity in Zijin Gold International through two wholly-owned subsidiaries, Zijin Mining Northwest and Jinshan (Hong Kong), respectively. The company has not disclosed the issuance price, stating that it will consider the interests of existing shareholders of Zijin Gold International, the acceptability of potential investors, and the issuance risks, with the pricing process following internationally accepted pricing mechanisms. Established in 2007 and headquartered in Hong Kong, China, Zijin Gold International's main business is the exploration, mining, processing, and sale of gold. Its main products for sale are gold bullion, dore gold, and gold concentrate. Zijin Gold International focuses on the exploration and development of high-quality gold assets globally and integrates high-quality overseas mine resources through its leading exploration and reserve augmentation capabilities. It is worth mentioning that, as stated in the company's risk disclosure, as of the date of this announcement, the injection of the aforementioned eight gold mine assets into its subsidiary, Zijin Gold International, has not yet been fully completed. If the subsequent progress of injecting these eight gold mine assets does not meet expectations, it may have an adverse impact on this transaction.

Zijin Mining announced on the evening of January 21 that, based on preliminary estimates by the financial department, the net profit attributable to shareholders of the publicly listed firm for 2024 is expected to reach approximately 32 billion yuan, an increase of about 10.881 billion yuan compared to 21.119 billion yuan in the same period last year, up 51.5% YoY. The net profit attributable to shareholders of the publicly listed firm, excluding non-recurring gains and losses, is expected to reach approximately 31.4 billion yuan for 2024, an increase of about 9.783 billion yuan compared to 21.617 billion yuan in the same period last year, up 45.3% YoY.

48.2MW solar storage power station in Western Australia officially launched: The solar storage power station, a collaboration between Canadian energy developer TransAlta Renewables and Australian mining company BHP, was officially launched recently. The power station is located in the Northern Goldfields region and has a total output capacity of 48.2MW, including a 27.4MW and a 10.7MW photovoltaic power station, equipped with a 10.1MW/5.4MWh battery energy storage system. The power station replaces traditional diesel and gas turbine generation, providing clean energy for BHP's Nickel West nickel mining operations in Western Australia, helping the company achieve emission reduction goals and low-carbon operations.