China Allocates 62.5B Yuan from Special Bonds for Consumer Trade-Ins

Eldorado Gold announced that its McIlvenna Bay underground copper and zinc project in Saskatchewan, Canada, achieved a major milestone by producing its first copper concentrate in June 2026. The site team is now focused on ramping up operations toward commercial production, which is anticipated in Q3 2026 with a nameplate processing capacity of 4,900 tonnes per day. As of June 2026, the volcanogenic massive sulphide (VMS) deposit hosts mineral reserves of 29.7 million tonnes, grading a significant 2.17% zinc and 1.21% copper, along with 0.44g/t gold and 14.4g/t silver. Once fully operational, the 18-year mine is projected to produce an average of 54 million lbs of zinc, 41 million lbs of copper, 20,000 oz of gold, and 444,000 oz of silver annually. Eldorado acquired the project via its C$3.8 billion acquisition of Foran Mining in April 2026. The modern underground operation utilizes battery-electric vehicles (BEVs) and conventional flotation circuits to produce separate premium copper and zinc concentrates for toll smelters.

Silverco Mining announced the mobilization of underground mining contractors at its wholly owned Cusi property in Chihuahua, Mexico, marking a critical milestone in the mine's restart plan. The company has appointed local experienced firms Mafrissa and Rencer to handle underground development and production mining across the Promontorio and San Miguel zones, respectively. Located in the Sierra Madre Occidental belt, the Cusi Complex is a historically productive underground mine renowned for its rich silver, lead, zinc, and gold deposits. Silverco expects the first ore from the Promontorio zone late in Q3 2026, while a new portal and ramp will be constructed at the San Miguel zone to ramp up production in H1 2027. CEO Mark Ayranto noted that with underground work and mill rehabilitation currently underway, the company remains strictly on schedule to produce its first concentrate in Q4 2026 and exit the year with two producing polymetallic mines in Mexico.

Russia has officially extended its temporary sulphur export ban until December 31, 2026, according to Government Decree No. 785 signed on June 25, 2026. The ban was originally set to expire on June 30. The restriction continues to cover liquid, granular and lump sulphur. The Russian government stated that the move aims to prioritise domestic fertiliser production and safeguard national food security. Exemptions apply to exports destined for Eurasian Economic Union (EAEU) member states (including Belarus, Kazakhstan, etc.), as well as Abkhazia and South Ossetia. Sulphur shipments for humanitarian aid and international transit are also permitted under special licenses. The impact of the ban and broader market conditions has weighed on domestic output: Russia's industrial gaseous sulphur production fell 19% year-on-year to 1.75 million tonnes in January-May 2026.