Mining Press Roundup: DPM Strikes Major Gold-Copper Discovery in Bulgaria

Canadian producer DPM Metals (TSX, ASX: DPM) announced a major gold-copper discovery at its Brevene South Porphyry site in Bulgaria, with drilling yielding 713 metres grading 1.31 grams gold per tonne and 1.16% copper from 1,172 metres downhole . The discovery, located approximately one kilometre from the company's flagship Chelopech underground mine, represents what analysts are calling a potentially very high-grade porphyry system with significant de-risking advantages due to its proximity to existing infrastructure.

DPM Metals: High-Grade Porphyry Discovery Near Chelopech Mine

Within the standout hole, DPM cut 398 metres of 1.48 grams gold and 1.45% copper from 1,487 metres depth , with the hole still in progress. RBC Capital Markets mining analyst Harrison Reynolds described the results as distinguishing BSP "as a potentially very high-grade porphyry system," noting that "proximity to existing mine infrastructure de-risks the path to eventual economic extraction" .

Shares of DPM rose 3.9% to $47.75 Wednesday morning in Toronto, valuing the company at about $10.6 billion (US$7.7 billion) . Located about 75 km east of Sofia, Chelopech is one of Europe's highest-grade operating gold-copper mines and has been in commercial production for more than two decades, serving as the company's main asset .

The BSP target is located approximately one kilometre from existing Mineral Reserves and contiguous to the Chelopech mine concession, with a large phyllic alteration envelope exceeding 1,000 metres by 1,500 metres indicating a substantial hydrothermal system . DPM has mobilized five high-capacity drill rigs to the BSP target and plans up to 15,000 metres of additional drilling by the end of 2026 . The company aims to file a Commercial Discovery Certificate after exploration work ends in September, followed by a mining concession application under Bulgaria's regulatory framework.

Tintina Mines: $91M Strategic Investment for Chile Copper-Gold Project

Tintina Mines (TSXV: TTS) surged to a 17-year high after it secured a $91 million (US$65.7 million) investment backed by Japan's Sumitomo Corp. and the Gignac mining family to fund the development of its main Domeyko Sulfuros copper-gold asset as well as consolidate the project's ownership, with the Chile-focused junior announcing the parties are among the investors joining a private placement of subscription receipts priced at C68¢ each .

Sumitomo and the Gignac family are expected to create a new investment vehicle to equally fund the purchase of $48 million in receipts, all in the first tranche . The remaining C$43 million would be acquired by a broader investor group, including C$14 million from its cornerstone investor Franco-Nevada, as well as those associated with G Mining Capital (GMC), a Canadian mining investment platform backed by the Gignac family and Sumitomo, with GMC CEO Claude Dufresne describing the platform as "an origination and business development platform of Sumitomo and G Mining Services" .

Earlier this year, Tintina released a preliminary economic assessment on the project, outlining a potential 25-year mine open-pit operation producing 37,000 tonnes of copper and 57,000 oz. of gold in concentrate annually, with the after-tax net present value (at 8% discount) estimated at $328 million, compared with an initial capital requirement of $1.28 billion . The Project is a copper-gold porphyry deposit in the Atacama Region of northern Chile .

Goldman Sachs: Copper Supply Deficit Widens as Mine Output Disappoints

Goldman Sachs has raised its year-end copper price forecast by more than 10%, now expecting copper to reach $13,735 per ton compared to its previous estimate of $12,465 per ton, citing lower mine production expectations and tighter market conditions outside the United States, with the bank reducing its forecast for global mine supply in 2026 by 350,000 tons following production disruptions at the Grasberg mine in Indonesia and the Kamoa-Kakula mine in the Democratic Republic of Congo .

Neither operation is expected to return to full production capacity before 2028 , according to the bank. Stronger-than-expected US copper imports also prompted the bank to raise its estimate for the copper market deficit outside the United States to 640,000 tons, up from a previous forecast of just 60,000 tons .

The revised outlook comes as copper prices trade at approximately $13,600 per ton according to market data, reflecting growing concerns about supply constraints in a market already facing structural demand linked to the energy transition and grid expansion. The bank foresees copper prices staying near current levels over the near term, then rising above $14,000 per ton in the latter half of 2026 .

Barrick Mining: Weighing London Listing for African Assets in Endeavour Tie-Up

Barrick Mining (TSX: ABX, NYSE: B) is said to be weighing up a London listing for its African business, a move that may involve merging with Endeavour Mining (LON, TSX: EDV), Reuters reported on Monday . Discussions are at an early stage and no decision has been made, with sources saying there is no certainty a deal will materialise and no announcement is expected in the near term .

The combined entity could be worth $30 billion in market capitalization . Under one scenario being explored, the Canadian-listed miner would retain its Toronto listing as a holding company that would own shares in the North American-listed Barrick in New York and a separate Africa-focused entity listed in London .

Analysts value Endeavour's assets at roughly $15 billion, about the same as Barrick's African mines, with one source describing the potential tie-up as a merger of equals, with little or no premium changing hands . Barrick's African portfolio spans five countries: North Mara and Bulyanhulu in Tanzania, Lumwana in Zambia; Kibali in the Democratic Republic of Congo; and Tongon in Ivory Coast .

Aya Gold & Silver: Bonanza Silver Hits at Morocco's Zgounder Mine

New drilling at Aya Gold & Silver's (TSX, Nasdaq: AYA) Zgounder mine in Morocco yielded several bonanza hits near and below the limits of the current open pit, with hole ZG-RC-26-946 in the open-pit area cutting 6 metres grading 1,867 grams silver from 96 metres depth . Other notable results include hole ZG-RC-26-942 in the open-pit area, which cut 10 metres of 739 grams silver from 129 metres downhole, while nearby hole ZG-RC-26-799 cut 6 metres of 1,160 grams silver from 6 metres depth .

Zgounder is one of the world's few silver-only operations, generating all its revenue from silver doré production, with the mine's operating life projected to run until 2036 and production of 4.8 million oz. of the metal last year . Aya shares rose 2.5% to C$29.36 in early afternoon trading Tuesday in Toronto, valuing the company at about $4.2 billion (US$3 billion) .

CEO Benoit La Salle said new intersections near the Western Fault "continue to support the significant exploration potential to the west," where development of the exploration drift at the 1825-metre level is advancing ahead of planned drilling west of the fault in the second half of 2026, with Aya having finished about one-third of its planned 30,000-metre exploration program at Zgounder this year .

Iamgold: 12% Resource Boost at Ontario's Côté Mine

A resource update for Iamgold's (TSX: IMG; NYSE: IAG) main Côté operation in northeastern Ontario lifts contained gold by 12% through the integration of the nearby Gosselin zone, with measured and indicated resources at Côté now totaling 838 million tonnes grading 0.75 gram gold per tonne for contained metal of 20.34 million oz., up from an estimated 18.2 million oz. as of Dec. 31 .

Inferred resources jumped 61% to 177.1 million tonnes grading 0.61 gram gold for 3.48 million oz. gold of contained metal . The resource update comes as the company works to complete an expansion technical report and updated mine plan, which are expected by year-end, with the update based on extensive diamond drilling and refined geological interpretations to better define the geometry and continuity of mineralization across the combined Côté and Gosselin zones .

Toronto-based Iamgold is pursuing a plan to expand the Côté plant's capacity 40% to more than 50,000 tonnes . Located near Gogama, about 175 km northwest of Sudbury, Côté entered commercial production in August 2024 and quickly became one of Canada's largest new gold mines, with Iamgold operating Côté in a 70-30 joint venture with Japan's Sumitomo Metal Mining .

Elliott Investment: Activist Push at Northern Star Resources

Shares in Northern Star Resources (ASX: AU), Australia's largest gold producer, surged after activist investor Elliott Investment Management confirmed that it has taken a stake worth more than A$1 billion ($715 million) and called for the company to explore a sale alongside a broader strategic review, with the stock jumping almost 14% to A$21.03 in Sydney on Tuesday, its biggest gain in more than six years, lifting Northern Star's market value to about A$30 billion ($22 billion) .

Elliott said the company should launch a strategic review covering all options, including a sale, after underperforming peers despite record gold prices, with the activist investor also seeking an operational review, board renewal and the appointment of a new chief executive from outside the company following the planned departure of CEO Stuart Tonkin, who has led Northern Star since 2016 .

The Perth-based miner ranks among the world's top 10 gold producers by output and expanded its growth pipeline through the A$5-billion all-stock acquisition of De Grey Mining, owner of the Hemi project in Western Australia, though Northern Star's shares were down more than 30% this year before Elliott's stake became public . Elliott argued that current gold prices and strong industry cash flow create a favourable backdrop for decisive action .

What It Means

Today's announcements reveal a mining sector in transition, with capital flowing toward copper-gold assets amid tightening supply forecasts and activist investors pushing for strategic repositioning at underperforming producers. DPM's Bulgarian discovery and Tintina's Chilean financing both underscore the premium the market is placing on copper exposure, particularly in jurisdictions with established infrastructure and permitting pathways.

The Goldman Sachs supply revision—cutting 350,000 tonnes from global copper mine output and projecting a 640,000-tonne deficit outside the U.S.—provides fundamental support for the wave of copper-focused deals. With gold trading at $4,474/oz according to market data and copper supply constraints intensifying, producers with polymetallic assets in stable jurisdictions are attracting both strategic capital (as seen with Sumitomo and the Gignac family backing Tintina) and activist attention (Elliott's Northern Star campaign). The Barrick-Endeavour discussions signal that portfolio rationalization and geographic consolidation remain live themes for senior producers navigating a high-price, high-scrutiny environment.

This roundup covers press releases published on June 3, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.