Eagle Mountain and Nittetsu Mining Sign MoU to Jointly Assess Lead, Zinc and Other Mineral Projects

【SMM Flash】According to SMM communication, as of this Thursday (July 23), the total inventory of SMM zinc ingots across seven major regions was 270,400 mt, an increase of 2,700 mt from July 16 and 1,400 mt from July 20, indicating a rise in China’s inventory.

Kazakhstan and Iran have signed a 27-year cooperation agreement to build a dedicated logistics terminal at Shahid Rajaee Port. The facility is scheduled to be completed within two years and commence commercial operations in the third year. The project opens an outbound shipping route connecting to the Persian Gulf, South Asia, Southeast Asia and East Africa, strengthens the International North–South Transport Corridor (INSTC), and expands export channels for Kazakh sulphur. In the medium to long term, it is expected to unleash Kazakhstan’s sulphur export capacity and reshape regional sulphur trade flows. Notes: The project is currently at the agreement signing stage and construction has not yet started. At least two years remain before commissioning; impacts will materialise over the long run with no immediate supply disruption. Geopolitical risks: Uncertainties surrounding the Strait of Hormuz and the situation in Iran may affect project progress. Transport route: Sulphur will need to be transported via the Caspian Sea or overland across Central Asia and inland Iran to reach the port. Customs clearance and freight stability along the entire cross-border overland corridor remain subject to variables.

EDM Resources announced on July 21 that it has received an amended industrial approval from Nova Scotia’s Department of Environment and Climate Change for the planned restart of the Scotia Mine. The approval covers revisions to the mine plan, processing facilities, site layout, waste-rock and tailings management systems, and related environmental measures, aligning the project with the company’s updated pre-feasibility study. The Scotia Mine is targeting a restart in 2027 following the completion of remaining permitting, financing and construction activities. Once operational, it is expected to become Nova Scotia’s only primary zinc producer and create approximately 150 direct jobs. However, the restart remains subject to Fisheries Act Authorisation. EDM Resources is also updating the mineral resource estimate, completing the PFS, advancing financing initiatives and holding discussions with potential zinc concentrate offtake partners.