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The Rock Creek project, located near Noxon, Montana, was acquired by Hecla Mining Company in 2015. The project is currently stalled. A 2021 U.S. District Court ruling invalidated the approval for the mine's first phase, citing violations of the Endangered Species Act related to grizzly bears and bull trout. Consequently, the Rock Creek mine has no current federal authorization to proceed, and Hecla Mining Company is not actively seeking construction permits. As of December 31, 2025, the inferred mineral resources for the project were 99,258,000 tons. The deposit contains silver and copper.

Production overview - 2025: silver 4612.3691185 t.

flotation

30-35

Underground exploration and evaluation project (formerly Montanore) to gather geological, hydrological, and environmental data for a potential future silver-copper mine. Approved work includes dewatering/rehabilitating an existing adit, extending it by approximately 4,200 feet, and constructing additional tunnels. Regulatory challenges from Montana DEQ and environmental groups are ongoing.

Expected to employ 7,500-10,000+ people during peak construction and 4,000-6,400 long-term jobs once in production.

Production overview - 2025: copper 7300000 t, gold 404 t.

The project includes processing facilities to produce a high-quality copper-gold concentrate. Construction is planned in two phases with a combined process capacity of 90 million tonnes per annum. The process involves crushing and grinding the ore.

The mine will be a truck-and-shovel operation.

The reconstitution of the Reko Diq project was completed in December 2022. The Environmental and Social Impact Assessment (ESIA) was approved by government authorities in early 2025. In April 2026, Barrick announced a slowdown in development activity to continue a project review until mid-2027, citing the need to assess the evolving security situation, capital requirements, project financing, scope, and timeline.

The mine employs a multinational workforce including Saudi, West African, Australian and Indonesian personnel.

The mine extracts approximately 3 million tonnes of ore per year using large-scale longhole open stoping methods.

Production overview - 2025: copper 32000 t; 2024: copper 65000 t.

The mine uses conventional flotation to produce copper concentrate. A cemented paste backfill system is in operation, which was commissioned in October 2017. The plant design includes the filtering of tailings to maximise water recycling due to the arid environment.

The mining fleet includes Sandvik trucks (nine TH663i and three TH663), LHDs (seven LH621i and one LH621), four Sandvik DL421 production drills, three Sandvik DD421 development rigs, and a Rhino 100HM boxhole borer.

The mine has expanded through the development of the Lode 1 orebody, located less than one kilometre from the existing lode. The extension development, which included extensive underground capital development, major upgrades to ventilation, and paste plant facilities, was completed in 2024. Stoping at Lode 1 began in the third quarter of 2023. In January 2023, Barrick and Ma'aden signed new joint venture agreements for two exploration projects, Jabal Sayid South and Umm Ad Damar, which are near the Jabal Sayid mine. Ongoing exploration around Jabal Sayid and Umm Ad Damar has identified several prospective corridors, with a focus on untested depth potential for 2025.

During peak construction, the project is expected to employ 7,500 people. Once in production, it will create 4,000 long-term jobs. As of May 2025, nearly 1,000 employees were on-site.

Production overview - 2024: copper 2.2 Mt, gold 3.9 Moz.

The project includes processing facilities to produce a high-quality copper-gold concentrate. Construction is planned in two phases with a combined process capacity of 90 million tonnes per annum. The mill is expected to process 45 million tonnes per annum starting in phase one.

The mine will be a truck-and-shovel operation. Key suppliers for processing and mining equipment include Metso, Weir, and Komatsu. The operation will use 360-ton trucks.

The reconstitution of the Reko Diq project was completed in December 2022. An updated feasibility study was approved by joint venture shareholders in April 2025. However, in an announcement on 2 April 2026, Barrick stated it was slowing development activity and extending a project review until mid-2027 due to escalating security risks. This is likely to impact the previously stated budgets and timeline, which had targeted first production by the end of 2028.

The Rock Creek project is a pre-development asset owned by Hecla Mining Company, located in Sanders County, Montana, in the United States. The proposed underground mine is situated approximately five miles northeast of Noxon, in and adjacent to the Cabinet Mountain Wilderness. Hecla Mining acquired the project in June 2015 through its acquisition of Revett Mining Company. As a proposed silver and copper mine, Rock Creek is currently not in operation. In February 2022, Hecla Mining withdrew the project's Plan of Operations from consideration by the United States Forest Service (USFS). Consequently, there are no ongoing activities at the site beyond care and maintenance, and Hecla has indicated it is focusing on its nearby Libby Exploration Project (Montanore) first. The project has a protracted history of permitting challenges and litigation from environmental and conservation groups, primarily concerning its potential impact on the Cabinet Mountains Wilderness, water resources, and threatened species such as grizzly bears and bull trout.

Production overview - 2025: silver 148291000 oz, copper 595168 t.

processing capacity of 10,000 tons of ore per day; mill

mill and a tailings storage facility

During the peak construction phase, the project is expected to employ over 7,500 people. Once operational, it will create around 4,000 long-term jobs.

The Reko Diq Project is a joint venture with Barrick Gold Corporation holding 50% ownership. It is an open-pit copper-gold mine under development in Balochistan, Pakistan, with an estimated mine life of 37 years. Development is planned in two phases with a total capital investment of $8.83 billion, targeting first production by the end of 2028.

Phase 1 processing plant with a capacity of 45 million tonnes per annum (Mtpa). This phase is expected to produce approximately 240,000 tonnes of copper and 297,000 ounces of gold annually. The peak mining rate is anticipated to reach 250 Mtpa by 2044.

Processing facilities to produce a copper-gold concentrate. The infrastructure will include two open pits, a processing plant, low-grade ore stockpiles, waste rock dumps, and a tailings storage facility.

Key suppliers for processing and mining equipment include Metso, Weir, and Komatsu.

The project's development is planned in two phases, with a total capital investment of $8.83 billion. Phase 1 is projected to have a capital cost between $5.6 billion and $6.0 billion. Early construction activities for Phase 1 commenced in the first quarter of 2025, with the first production targeted for the end of 2028.

Additional employees were being recruited in 2022 due to the commencement of capital development for Lode 1 and the construction of a second paste line.

The Jabal Sayid mine is the largest underground mine in Saudi Arabia, extracting approximately 3 million tonnes of ore per year. Exploration is ongoing around Jabal Sayid and Umm Ad Damar, focusing on untested potential at depth.

Production overview - 2025: copper 48000 t; 2024: copper 65000 t.

The mine uses large-scale longhole open stoping methods with a combination of cemented rock fill and paste fill. The processing plant includes a flotation circuit to produce a copper-gold concentrate. The plant has undergone expansion to increase production from 1.8 Mtpa to 3.0 Mtpa by the end of 2023, which included adding concentrate and tailings filters. A paste backfill system was commissioned in October 2017.

The mining contractor, Byrnecut, utilises a fleet of Sandvik machines, including nine TH663i and three TH663 trucks, seven LH621i and one LH621 LHDs, four Sandvik DL421 production drills, and three Sandvik DD421 development rigs, along with a Rhino 100HM boxhole borer.

An expansion project for the Lode 1 orebody, located less than one kilometre from the existing lode, was completed in 2024. This included extensive underground capital development, upgrades to ventilation and paste plant facilities, and supporting infrastructure. Stoping at Lode 1 began in the third quarter of 2023. The expansion added an additional 2,900 metres of capital development in 2022 and was expected to add 100,000 tonnes per annum to production.

The construction of the Quebrada Blanca Phase 2 (QB2) project generated over 30,000 jobs. The operational phase is expected to employ over 3,000 local workers. The Integrated Operations Centre in Santiago has over 200 people working in shifts.

Production overview - 2024: copper 207800 t; 2023: copper 7200 t.

The original operation used leaching and solvent extraction/electro-winning (SX/EW) to produce copper cathodes. The expanded operation, known as Quebrada Blanca Phase 2 (QB2), involves a new concentrator with a capacity of 140,000 tonnes per day for processing sulphide ore through crushing, milling, and bulk flotation. The operation is the first in the Tarapacá Region to use 100% desalinated seawater for all its production processes, transported via a 165-kilometre pipeline. Copper concentrate is also transported to the port facility through a pipeline.

The mining fleet includes Komatsu 730E and 830E haul trucks from the initial phase. For the QB2 expansion, the fleet is transitioning to autonomous trucks, including 28 Caterpillar 794 AC electric drive trucks.

The Quebrada Blanca Phase 2 (QB2) project is a major expansion to exploit the deeper sulphide resource. This expansion includes a new concentrator, a desalination plant, and port facilities, and is expected to double Teck's consolidated copper production. First copper from QB2 was achieved in the first half of 2023, and the project was officially inaugurated in October 2023. The expanded operation has an initial mine life of 27 years, using only about 18% of the 2022 reserves and resources, indicating significant potential for future expansions. A further expansion, the Quebrada Blanca Mill Expansion (QBME), is being advanced and is expected to begin production in 2026. The operation is supported by a remote Integrated Operations Centre (IOC) in Santiago.

The Libby Exploration Project, formerly known as the Montanore project, is a silver and copper exploration project in Lincoln County, Montana. It is operated by Hecla Mining Company, which acquired the project in September 2016. The deposit is categorised as a stratabound sediment-hosted silver-copper deposit. As of October 2025, a new Plan of Operations for underground exploration and evaluation activities has been authorised by the U.S. Forest Service, allowing exploration and data collection to proceed. These activities include dewatering and rehabilitating an existing adit to collect data that will inform the project's engineering and environmental requirements and overall feasibility. If the evaluation supports a feasible mine plan, a new Plan of Operations for construction and development would be submitted. The current exploration and evaluation project is expected to be conducted over approximately 16 years, a period that includes post-reclamation monitoring.

Production overview - 2024: silver 183000000 oz, copper 1500000000 lbs.

30-35 (exploration phase)

The Libby Exploration Project, formerly known as the Montanore Project, is located in Lincoln County, Montana. It is an underground exploration and evaluation project operated by Hecla Mining Company. The current phase of the project involves dewatering and rehabilitating an existing adit, followed by extending the tunnel to gather data on geology, hydrology, and copper and silver mineralisation to determine the feasibility of a future mine. The U.S. Forest Service has issued a final decision notice and a finding of no significant impact, allowing the exploration activities to proceed. However, this decision is the subject of ongoing litigation from environmental groups. The project has been designated for accelerated review under the FAST-41 program.

The project is expected to employ over 7,500 people during peak construction and create around 4,000 long-term jobs once in production. As of March 2025, 77% of permanent RDMC employees were from Balochistan province.

The Reko Diq project is a copper-gold open pit mine under development in Balochistan, Pakistan. It is a joint venture 50% owned by Barrick Gold Corporation. The project is designed as a two-phase development with a combined processing capacity of approximately 80-90 Mtpa. First production was previously targeted for 2028 but is under review and likely to be delayed due to escalating security risks in the region, impacting the project's budget and timeline.

Production overview - 2024: copper 7.3 Mt, gold 404.35 t.

The mine will be a conventional truck-and-shovel open pit operation. The processing facilities will produce a high-quality copper-gold concentrate. The development is planned in two phases, with a combined processing capacity of approximately 80 million tonnes per annum. An Asian Development Bank report mentioned a two-phase development with Phase 1 at 45 Mtpa and a combined total of 90 Mtpa for Phase 2.

A $440 million agreement was finalised with Komatsu for the delivery of primary mining equipment starting in 2026. The fleet will include Komatsu 980E-5 ultra-class haul trucks, P&H 4100XPC AC electric rope shovels, Komatsu PC7000-11 mining excavators, and WE2350-2 electric wheel loaders. The drill fleet is planned to include Sandvik DR412i and DI650i blasthole rigs.

The project is designed as a two-phase development.

The mine has a multinational workforce, including Saudi, West African, Australian, and Indonesian personnel.

Jabal Sayid is the largest underground mine in Saudi Arabia.

Production overview - 2023: copper 70000 t; 2022: copper 68418 t.

The mine uses conventional flotation to produce a copper concentrate. The processing plant includes a concentrate thickener and filter, and tailings are dewatered using tailings filters before being used for paste backfill. The project aims to extract approximately 3 million tonnes of ore per year. In 2020, the mine processed 2.6 million tonnes of ore. In 2022, it processed 2.73 million tonnes of ore.

The mining fleet includes nine Sandvik TH663i and three TH663 trucks, seven Sandvik LH621i and one LH621 LHDs, four Sandvik DL421 production drills, and three Sandvik DD421 development rigs. A Rhino 100HM boxhole borer is also used. The operation uses the LiveMine system for data recording and RCT system for remote loader activities.

An expansion project for the Lode 1 orebody, located less than one kilometre from the existing lode, was completed in 2024. This included significant underground capital development, upgrades to ventilation, a paste plant, and other infrastructure. Stoping at Lode 1 began in the third quarter of 2023. The expansion aims to enable the operation to deliver 3 million tonnes of ore per annum. Commissioning of the new paste plant began in the second quarter of 2024.

30-35 (exploration phase)

The Libby Exploration Project (formerly Montanore) is an underground silver and copper project in Lincoln County, Montana, operated by Hecla Mining Company (100% ownership). It is currently in an exploration phase, authorized by the U.S. Forest Service, to determine economic viability and inform future mining plans. This phase involves dewatering and rehabilitating an existing adit, extending and constructing new tunnels for drilling, and is expected to last approximately 16 years. The project is designated under the FAST-41 program to expedite permitting. An inferred mineral resource has been reported.

Santa Lúcia is an exploration project located in the state of Pará in the Northern region of Brazil. The project is focused on copper and gold commodities. As of 2021, a maiden mineral resource estimate was announced for the project. Santa Lúcia is envisioned as a potential open-pit mine. The project is part of the Carajás East Hub strategy, where ore from Santa Lúcia would be processed at a central facility, concurrently with ore from the Pedra Branca mine. As of early 2023, the project was in a study phase, with a Pre-Feasibility Study underway and nearing completion. Environmental studies required for the permitting process were submitted in December 2022. In 2024, it was reported that the permitting process for the Santa Lúcia project was granted by SEMAS, the environment agency of Pará State.

ore from Santa Lúcia would be processed at a central facility

part of the Carajás East Hub strategy, where ore from Santa Lúcia would be processed at a central facility, concurrently with ore from the Pedra Branca mine.

approximately 450 people

The Pedra Branca mine is an underground copper and gold project located in the Carajás Mineral District in the state of Pará, north-eastern Brazil. It is an iron oxide copper-gold (IOCG) type deposit, split into east and west zones. Ore is processed at the Antas processing facility, 70km away, using conventional crushing, grinding, and flotation circuits.

full production capacity of approximately 1.0 Mtpa by 2022.

conventional crushing, grinding, and flotation circuits. An ore sorting plant was planned for construction at Pedra Branca.

The mine operates on a fly-in, fly-out basis. During the construction phase, 11% of the labour force was sourced from the local Port Augusta community through employment programs with the Kokatha People.

The mine produces copper concentrate which also contains gold and silver. The mining method is sub-level caving. Development of the mine decline progressed in 2024 to support a future block cave for the lower half of the orebody. Crusher Station 2 was commissioned in March 2024 to increase operational efficiencies for the sub-level cave.

Production overview - 2025: gold 99000 oz; 2024: gold 91000 oz.

Ore is collected from underground and processed using conventional crushing, grinding, and flotation methods to produce copper concentrate. An underground crusher reduces the ore size before it is conveyed to the surface processing facility. The processing plant includes a concentrator, and the process involves three stages of cleaner flotation before the concentrate is filtered and packed. Hydrofloat technology was commissioned in the fourth quarter of FY25 to increase processing throughput.

large-scale underground mining fleet with 21-tonne capacity loaders; 6 kilometres of conveyor belts; central crusher; raise bore services

An expansion is underway to develop the bottom half of the Carrapateena orebody into a block cave, which aims to make the operation multigenerational with low cash costs.

Production overview - 2023: copper 59091 t; 2020: copper 68291 t.

The mine employs large-scale longhole open stoping methods with a combination of cemented rock fill and paste fill. A cemented paste backfill system was commissioned in October 2017. The operation utilises a conventional flotation process and extracts approximately 3 million tonnes of ore per year. The processing plant was planned to be upgraded to a capacity of 3.0 Mtpa by the end of 2023.

The mining fleet is composed of Sandvik machines, including nine TH663i and three TH663 trucks, and seven LH621i and one LH621 LHDs. The fleet also includes four Sandvik DL421 production drills, three Sandvik DD421 development rigs, and a Rhino 100HM boxhole borer. The mine utilises the RCT system for remote loader activities and is implementing the LiveMine system for data recording. Due to the commencement of additional capital development for Lode 1, a new DD421-60C Jumbo was scheduled to arrive on site in late Q3 2022. There was also consideration of upgrading the load and haul fleet with a new LH621i loader and a TH663i truck in the latter half of 2022.

An expansion project for the Lode 1 orebody, located less than a kilometre from the existing lode, was completed in 2024. This project included significant underground capital development and major upgrades to the ventilation and paste plant facilities. Stoping in the new lode began in the third quarter of 2023. The Lode 1 expansion is expected to enable the operation to deliver 3 million tonnes per annum. Exploration is ongoing, with a focus on untested potential at depth. Barrick and Ma'aden have also signed new joint venture agreements for two additional exploration projects, Jabal Sayid South and Umm Ad Damar.

337 contractors

The Guayabales project is an exploration-stage asset in the Middle Cauca belt, Colombia, focused on gold, silver, copper, and tungsten mineralisation. Exploration has identified several target zones, including the Apollo, Olympus, Donut, and Trap targets. The Apollo system is described as a large-scale, bulk-tonnage, high-grade gold-silver-copper-tungsten deposit.

The Anza Project is no longer operated by Agnico Eagle Mines Limited. As of November 2024, the project is 100% owned by Orosur Mining Inc., a minerals explorer and developer. This follows Orosur's acquisition of the joint venture company, Minera Monte Aguila, previously owned by Newmont Corporation and Agnico Eagle Mines. The project is currently at an exploration and resource definition stage. It is located in the Municipality of Anzá, in the Department of Antioquia, Colombia, approximately 82 kilometres west of Medellín. The primary commodity is gold, with some occurrences of copper. A maiden Mineral Resource Estimate (MRE) has been completed for the Pepas deposit, assuming a conventional open-pit mining method and a conceptual processing flowsheet including gravity concentration and cyanidation.

Preliminary metallurgical test work has been conducted, and a conceptual processing flowsheet has been developed. This includes crushing and grinding, followed by a combination of gravity concentration and cyanidation to recover the gold.

Other prospects within the Anza Project, including APTA and El Cedro, are subject to ongoing exploration.

The San Nicolás project is a 50/50 joint venture between Agnico Eagle Mines Limited and Teck Resources Limited, held by Minas de San Nicolás, S.A.P.I. de C.V. (MSN). It is currently in the permitting and engineering phase, with a feasibility study expected in the first half of 2025. An Environmental Impact Assessment and Permit application was submitted in the first half of 2023. Engineering is advancing with a target to complete 50% by mid-2026. First production is expected in 2026.

The mine is expected to produce 63 thousand tonnes per annum of copper and 147 thousand tonnes per annum of zinc in concentrate over its first five years of production.

The project's pre-feasibility study assumes a conventional flotation plant to produce copper and zinc concentrates.

The Upper Beaver Project is located in the Gauthier and McVittie townships, approximately 5 km northeast of Dobie, Ontario. Agnico Eagle is planning to develop, operate, and eventually reclaim a combined underground and open-pit gold-copper mine. As of July 2024, the project entered the advanced exploration phase. A positive internal evaluation for a standalone mine and mill scenario was completed in mid-2024. The company is now intensifying efforts on the impact assessment for the potential production phase.

Production overview - 2025: gold 400000 oz, copper 10649 t; 2024: gold 2770000 oz, copper 54930 t.

The plan includes an on-site metal mill and a tailings storage facility. The proposed maximum ore production capacity of the mine is 15,000 tonnes per day, with the mill having a maximum input capacity of approximately 10,000 tonnes per day.

In July 2024, a $200 million investment was approved to de-risk the project, with an additional $100 million allocated to accelerate site-readiness for construction. Activities in 2024 included shaft pre-sinking, foundation work, construction of site roads and water management ponds, upgrades to Beaverhouse Road, and the start of erecting the shaft headframe and hoist structures. By the end of 2025, shaft sinking had reached a depth of 155 metres. The exploration ramp is being extended to a depth of 400 metres. Construction of the mine is planned to start in 2027-2028, with production potentially beginning as early as 2029-2030. The project is subject to a federal impact assessment, which began in September 2021.