Atlas Shuts Down Production in Response to Low Iron Ore Price

[SMM Gold Flash] Xtra-Gold reports that an independent Mineral Resource Estimate for Ghana’s Kibi project, effective 1 October, raised Indicated resources 33% to 1.4049 million oz. The estimate comprises 39.007 million tonnes grading 1.12 g/t gold, plus 5.693 million tonnes at 0.99 g/t containing 180,800 Inferred oz, using a 0.5 g/t cut-off. It incorporates 123 additional diamond holes totalling 27,384.5 metres since the 2024 estimate. Mineral Resources are not Mineral Reserves and do not establish mine economics or production. The headline total includes 156,100 Indicated oz in a buffer zone between the existing Apapam mining lease and forest-reserve boundary; Xtra-Gold said formal approval of its lease-extension application remains outstanding and is not assured. Within the current licence area, the estimate contains 1.2488 million Indicated oz and 180,800 Inferred oz.

[SMM PGM Flash] Tharisa reported on 13 October that its South African mine produced 41,000 oz of six-element PGMs in Q4 FY2026, up 3.5% from the previous quarter. Full-year output reached 153,700 oz, 11% above FY2025 and within guidance. Its average contained-metal basket price was US$2,607/oz for the year, 61% higher year on year, although the Q4 average eased 5.4% quarter on quarter to US$2,535/oz. Rising annual output and a substantially higher basket price strengthen the revenue backdrop for the PGM-and-chrome operation, while the quarterly price decline shows continuing volatility. Tharisa set FY2027 PGM guidance at 150,000–170,000 oz. It also still targets first ore to the Karo mill in Zimbabwe for Q4 2027; that date and Karo’s planned output remain forecasts, not achieved production.