Data: SHFE, DCE market movement (Oct 22)

Tivan (ASX: TVN) was awarded Exploration and Evaluation Licence MEL2025-CA-ZC004, covering about 50 km2 immediately north of its Turiscai Project in Timor-Leste, through the country's Second Minerals Tender 2025 administered by the Autoridade Nacional dos Minerais. Following formal grant the Turiscai Project expands from seven to eight licences totalling about 394 km2, consolidating the company's regional footprint. Tivan is targeting copper-gold mineralisation of porphyry and VMS style; rock-chip sampling has returned up to 23.1% Cu, 7.19 g/t Au and 6.17% Zn. The company plans geological mapping, surface geochemistry and a magnetic drone survey, with maiden drilling scheduled for the December quarter 2026.

Jubilee Metals (AIM: JLP) is scaling up an integrated mine-to-metals copper model in Zambia, with FY2026 combined output from Roan and Molefe reaching 3,739 t of copper, up 225% year on year. Roan produced 2,823 t of copper in concentrate, including 997 t of oxide concentrate (more than ten times the prior year), while Sable refinery cathode output rose 17.5% to 1,207 t. The group is building a domestic copper supply chain through three pillars: third-party feed processing at Roan, owned mining at Molefe and Project G, and refining at Sable, while its Large Waste project targets about 240 million tonnes of historical tailings. Jubilee is divesting South African chrome and PGM assets to become a pure Zambia copper producer.