Escondida Supervisors Reject BHP Contract Offer, Paving Way for Potential Strike

Marimaca Copper has received grid connection authorization for its Marimaca Oxide Deposit (MOD) in Chile and has agreed key commercial terms for a power-purchase-agreement framework, advancing the project's power infrastructure planning as development progresses.​ The grid connection authorization provides a pathway for MOD to connect to Chile's electricity system, while the agreed commercial terms establish the basis for a future power supply arrangement. Marimaca said the framework is intended to support the project's access to 100% renewable electricity.​ The company described the development as an important de-risking milestone for MOD, as reliable long-term power supply is a key requirement for the planned mining and processing operation.​ Marimaca is advancing MOD as an oxide copper development project in northern Chile. The company has been progressing permitting, engineering and other project-development work as it moves the asset toward a potential construction decision.​ The power milestone strengthens the project's infrastructure readiness, but a final power-purchase agreement and full project execution remain subject to further development steps and contractual completion.​ Securing grid connection authorization reduces an important infrastructure risk for the Marimaca Oxide Deposit by providing greater clarity on how the project could access long-term electricity supply. The proposed use of renewable power could also support lower-emissions copper production. Attention will now turn to finalization of the power-purchase agreement and progress on the remaining permitting, financing and development milestones required before construction.

Generation Mining has commenced construction at its 100%-owned Marathon copper-palladium project in northwestern Ontario, Canada, following the posting of financial assurance required for the construction phase of the project.​ Early works are now underway and are expected to continue through the fourth quarter of 2026 and into 2027. The programme includes upgrades to site access roads, clearing of the plant site and initial pit footprint, early water-management infrastructure, camp expansion, bulk earthworks, temporary power installation and environmental monitoring systems.​ Generation Mining has posted a C$6.5 million bond covering rehabilitation obligations associated with the construction phase. The phased financial-assurance structure allows the company to begin site works while matching financial assurance to the level of disturbance created during each stage of development.​ The company is also advancing procurement of critical equipment, including mining equipment, the primary crushing station, grinding and regrind mills, hydrocyclones, flotation equipment, thickeners and plant buildings. Generation Mining expects to make approximately C$30 million of initial payments to secure around C$150 million of equipment and infrastructure, subject to final contractual arrangements and required approvals.​ Generation Mining said the approximately C$150 million of planned critical purchases are, in aggregate, at or below the cost allowances included in the project's feasibility study and have expected delivery schedules within the project's baseline timetable.​ The Marathon project is planned as a 13-year copper-palladium operation. According to the company's feasibility study, the mine is expected to produce approximately 532 million lb of payable copper over its operating life, alongside palladium, platinum, gold and silver.​ The start of construction represents a significant development milestone for Marathon following Generation Mining's recent announcement that it had assembled the financing required for construction. Early site works and procurement of long-lead equipment reduce execution risk as the project moves from financing and permitting into physical development. With approximately 532 million lb of payable copper expected over the planned 13-year mine life, Marathon could become a new source of North American copper supply once construction and commissioning are completed.

Outokumpu’s October 2026 North American coil alloy surcharges edged lower across several molybdenum-bearing grades. The surcharge for 316L 2.5% Moly fell 0.5% MoM to $4,291.96/t, while 316L/4404 declined 0.7% to $3,886.31/t. Duplex 2205 was broadly flat at $4,225.83/t. Surcharges for 904L and 254 SMO fell 0.8% and 0.6% to $8,236.48/t and $8,914.62/t, respectively. These are alloy surcharges rather than full steel prices and reflect nickel, chromium and other alloy inputs as well as molybdenum.