Quotation of galvanized slag on July 23

ACG Metals revised 2026 production guidance for Gediktepe in Türkiye to 12,000–14,000 tonnes of copper equivalent, including expected sulphide output of 4,000 tonnes of zinc and 2,200 tonnes of copper. A measured commissioning schedule shifts approximately three months of sulphide production into 2027. The updated mine plan forecasts average annual production of approximately 36,000 tonnes CuEq during 2027–2031, around 60% above the midpoint of the original 20,000–25,000-tonne target. The enriched ore treatment project now targets concurrent gold-silver doré and copper-zinc concentrate production in Q3 2027, replacing phased development and bringing copper-zinc output forward from Q1 2029. Initial capital expenditure is estimated at US$60.4 million, with planned throughput of up to 800,000 tonnes of ore annually and assumed copper and zinc recoveries of 86% and 63%, respectively

Could indium phosphide become a minor-metal issue with major implications at today’s U.S.-China summit? China introduced export controls and licensing requirements for indium-related items in February 2025, while expanding AI datacenter optical connectivity continues to lift demand for Indium Phosphide (InP) wafers, epiwafers and lasers. Following the leaders’ May summit, the White House listed indium among the critical-mineral shortages China would address, without announcing removal of existing controls. Whether today’s meeting will produce further clarity on InP export licensing remains uncertain. SMM believes an improved licensing process could ease overseas supply uncertainty; without progress, tension between rising AI optical demand and constrained material flows may persist.

Silver Bow Mining announced a non-binding term sheet with Ocean Partners UK for approximately US$88 million in funding and credit support to advance the restart of Rainbow Block, refurbishment of the Jefferson County Metallurgical Complex and working capital requirements in Montana, US. The proposed package comprises a US$40 million concentrate prepayment facility, up to approximately US$43.1 million in reclamation bond guarantees and a US$5 million lead commitment in a future equity financing. Approved replacement bonds are expected to release approximately US$42 million in cash collateral. The associated ten-year offtake would cover all future lead and zinc concentrates from Rainbow Block and ores outside Montana Tunnels’ M-Pit, plus one-third of those from M-Pit ores, with no minimum tonnage or take-or-pay obligations.