Mining Press Roundup: Surge Copper Unveils $4.7B Berg Project as Copper Majors Advance

Surge Copper unveiled a pre-feasibility study for its Berg copper-molybdenum project in British Columbia today, outlining a 28-year mine life with an after-tax net present value of C$4.6 billion and a 24% internal rate of return . The announcement marks a significant milestone for one of Canada's largest undeveloped copper projects at a time when copper prices are trading at record levels, with London Metal Exchange prices approaching $13,800 per tonne . The PFS outlines a large-scale, long-life conventional open pit mining operation feeding a concentrator process plant designed for a nominal throughput rate of 120,000 tonnes per day , positioning Berg as a cornerstone asset in British Columbia's critical minerals strategy.

Surge Copper: Berg Project Economics Shine at Record Copper Prices

Surge Copper announced the results of its Pre-Feasibility Study for the 100%-owned Berg Copper Project located in central British Columbia , delivering robust economics that reflect both the project's scale and favorable commodity price environment. According to the company's announcement, the PFS establishes the basis for a conventional, stand-alone development of the Berg copper-molybdenum-silver deposit .

The timing is strategic. Recent gains in copper have been driven by supply disruptions, tariff uncertainty and strong demand from industries linked to AI infrastructure and electrification , according to market analysts. Despite a stronger US dollar and high interest rates, copper's 2026 average price forecast remains just above $12,100/t due to concentrate shortages and limited new mine supply , S&P Global reported in April.

In February 2026, the British Columbia government accepted the Berg Project into the Critical Minerals Office, with the Province recognizing that if developed as envisioned, Berg's projected output of critical minerals, including copper and molybdenum, would rank among the largest in Canada . The project now advances into environmental assessment while maintaining momentum through Indigenous engagement and technical studies, according to the company.

Montage Gold: Koné Resources Jump 58% in Ivory Coast

Montage Gold announced an exploration update for its Koné project in Côte d'Ivoire showing Koné is now estimated to hold 269 million indicated tonnes grading 0.63 gram gold per tonne for contained metal of 5.49 million oz., a 13% increase from the 2024 feasibility study . The update gives Koné 244 million measured and indicated tonnes grading 0.8 gram gold per tonne for 6.2 million oz., according to the press release.

"The latest results demonstrate the prospectivity of the Koné land package, with significant progress already made in adding to the resource inventory in only one year of drilling," Scotia Capital mining analyst Ovais Habib said . Project construction is progressing "rapidly" while remaining on budget and on schedule, Montage said .

During a meeting with Ivorian President Alassane Ouattara, Montage Gold highlighted the Koné project as Ivory Coast's largest gold deposit, with 5 million ounces of resources expected to make it the country's largest gold mine and the third-largest in West Africa once operational . According to market data, gold traded at $4,294/oz today, up 2.0%, providing favorable economics for development-stage projects.

Triple Flag: $440M Ravenswood Gold Stream Bolsters Australian Portfolio

Triple Flag Precious Metals announced that its wholly owned subsidiary, Triple Flag International Ltd., has entered into an agreement to acquire a gold stream on the producing Ravenswood Gold Mine in Queensland, Australia for upfront cash consideration of US$440 million . The Ravenswood stream adds immediate cash flow from a large-scale, long-life operation located in a top-tier mining jurisdiction, with the Ravenswood Gold Mine ranking as one of the 10 largest gold mines in Australia by ore reserves and historical production of more than 4 million ounces of gold .

Triple Flag CEO Sheldon Vanderkooy says the Ravenswood stream is underpinned by two years of target gold deliveries , with production expected to reach in excess of 200,000oz annually by 2028 following a significant investment of A$830m aimed at expanding and upgrading its infrastructure . Shares in Triple Flag Precious Metals rose 4.5% on the acquisition, despite gold prices trading flat on the day, with the Toronto-based streaming and royalty company holding a market capitalization of C$8.42 billion ($6 billion) .

Hertha Metals: Texas Plant Targets Rare Earth Magnet Supply Gap

Hertha Metals, founded in 2022 and headquartered in Houston, plans to break ground later this summer on a plant that will produce 10,000 tonnes per year of high-purity iron used in permanent magnets , according to the company's CEO Laureen Meroueh. "We will be the first and only domestic producer of this material," Meroueh said, referring to high-purity iron used in neodymium-iron-boron (NdFeB) permanent magnets .

The timing addresses a critical supply chain vulnerability. Effective January 1, 2027, the Department of Defense will enforce a ban on Chinese-origin rare earth magnets and constituent materials in all covered defense systems, while the focus of policymakers and industry has largely been on securing domestic supplies of rare earth elements such as neodymium, with a lesser-known vulnerability remaining in high-purity iron production, where 90% is currently made in China .

Backed by roughly $20 million from Breakthrough Energy and Khosla Ventures, Hertha represents the expanding frontier of Western rare earth supply chain rebuilding , positioning the startup at the intersection of magnet security, steelmaking technology and US industrial policy.

Rinehart's $1B SpaceX Bet: Mining Meets Space Ambitions

Australia's richest person Gina Rinehart sees potential ties between its critical minerals portfolio and Elon Musk's space venture as demand grows . Hancock Prospecting, Rinehart's investment company, said in a statement Monday that it was allocated shares in SpaceX's initial public offering last week, with Dow Jones reporting Rinehart's stake was valued at more than US$1 billion .

The investment deepens ties between the mining and space sectors as governments and private companies increasingly explore how critical minerals, water and energy resources could support future activity beyond Earth, with Hancock having built one of the largest critical minerals portfolios outside China, including stakes in Lynas Rare Earths and MP Materials . "In the future, we also see the possibility of mutually beneficial arrangements between SpaceX and Hancock Prospecting's significant critical minerals investments, as demand grows for the materials and infrastructure needed to support advanced technology," Hancock CEO Garry Korte said .

Energy Fuels: Uranium Production Hits Full-Year Guidance at Midyear

Energy Fuels expects to meet its 2026 uranium production guidance by mid-year as ore processing at Utah's White Mesa Mill pauses to rebuild stockpiles, with uranium oxide production reaching 1.6 million lb. by the end of June, within the company's previously published full-year range of 1.5-2.5 million pounds . "Our uranium segment continues to differentiate Energy Fuels as the clear leading U.S. uranium producer through our strong operating performance, production and costs," CEO Ross Bhappu said .

The announcement comes as uranium markets strengthen. According to market data, the URA uranium ETF traded at $48.24 today, up 6.0%, reflecting renewed investor interest in nuclear energy. The mill is the only fully licensed and operating conventional uranium mill in the United States, with processing expected to complete its current uranium ore processing by the end of June to rebuild ore stockpiles .

Larvotto Resources: Hammer Metals Acquisition Expands Queensland Copper

Australian gold-antimony miner Larvotto Resources is expanding its exposure to copper through the acquisition of Hammer Metals to create a district-scale portfolio in Queensland, with a binding agreement to acquire 100% of Hammer in an all-share transaction, issuing one new share for every 22 Hammer shares acquired . The total equity value of Hammer is estimated at A$54 million ($37.8 million) .

The acquisition "materially expands" Larvotto's existing Queensland copper strategy and landholding with near-production potential, with Hammer's portfolio covering 3,600 km² of tenure in the Mt Isa district, anchored by the Kalman project and nearby satellite deposits with a combined JORC resource estimate of 530,000 tonnes in copper equivalent . Alongside the acquisition, Larvotto intends to launch a $15 million strategic placement to Glencore, providing capital to accelerate the planned development activities across the company's Queensland copper portfolio .

What It Means

Today's announcements underscore a sector increasingly focused on critical minerals and strategic supply chains. Copper dominates the narrative—from Surge's massive Berg PFS to Larvotto's Queensland consolidation—reflecting both record pricing and structural supply tightness. According to market data, the COPX copper miners ETF traded at $89.91 today, up 4.6%, while copper itself commands near-record premiums.

The rare earths and uranium stories tell a parallel tale: Western nations racing to secure domestic supply ahead of regulatory deadlines. Hertha Metals' Texas plant targets the 2027 DoD magnet ban, while Energy Fuels' production surge positions the company as America's uranium anchor. Rinehart's SpaceX investment signals that critical minerals strategy now extends beyond Earth's surface—a long-dated bet that today's supply chain battles will define tomorrow's industrial frontiers.

Streaming deals like Triple Flag's Ravenswood acquisition show capital flowing toward immediate production and cash flow, even as gold consolidates near $4,300/oz. The message is clear: in a world of supply constraints and geopolitical fragmentation, scale, jurisdiction, and speed to production matter more than ever.

This roundup covers press releases published on June 15, 2026. Company announcements are sourced from mining industry wire services. For corrections or updates, contact contact@stakeandpaper.com.