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The Copper Wolf project is a large porphyry copper-molybdenum system located in a significant porphyry copper belt in Arizona. Previous mapping and drilling have confirmed porphyry-style mineralisation and alteration throughout much of the project area. Drilling in 2023 at the Bobcat prospect returned an intersection of 405 metres at 0.35% copper and 0.05% molybdenum. IGO Limited is now focused on a targeted drilling program planned for the first half of 2027, the results of which will inform the next steps for the project.

IGO Limited acquired the remaining 49% of the Copper Wolf project from Buxton Resources for approximately A$6.15 million, moving to 100% ownership. This acquisition was announced in March 2026 and will terminate existing joint venture arrangements.

IGO Limited made the decision to transition the Cosmos Project into care and maintenance, a process expected to be concluded by 31 May 2024. The transition to care and maintenance was officially completed in June 2024. This decision was influenced by a significant deterioration in commodity prices, a reduction in the expected life of the mine, delays in reaching full capacity, and increases in operating and capital costs. IGO intends to preserve the option to restart Cosmos in the future if market conditions improve. During this period, the company will assess further exploration to potentially increase the mineral resource, particularly the AM5 and AM6 orebodies. The company is also exploring options to rationalise the Cosmos site and infrastructure, noting the region's prospectivity for gold and other minerals.

Production overview - 2024: nickel 1734 t.

During this period, the company will assess further exploration to potentially increase the mineral resource, particularly the AM5 and AM6 orebodies. The company is also exploring options to rationalise the Cosmos site and infrastructure, noting the region's prospectivity for gold and other minerals.

The refinery has continued to operate well below its nameplate capacity. IGO considers the refinery a high-cost asset with no pathway to appropriate returns.

Production overview - 2025: lithium 8583 t; 2024: lithium 3508 t.

The facility processes spodumene concentrate from the Greenbushes mine.

Train 1 has faced ongoing operational challenges and has been operating below its nameplate capacity of 24,000 tonnes per annum. In January 2025, the joint venture partners agreed to cease all work and activities on the construction of a second train (Train 2).

1700

Production overview - 2025: lithium 1350000 t; 2024: lithium 1420000 t.

The operation has four processing plants: three producing chemical grade lithium concentrates (CGP1, CGP2, and a Tailings Retreatment Plant) and one producing technical grade lithium concentrates. The processing method involves gravity, heavy media, flotation, and magnetic processes to upgrade the lithium mineral into concentrates. A third chemical grade plant (CGP3) commenced construction in 2023 and processed its first ore in December 2025.

A capacity expansion project is underway to meet growing global demand for lithium. This involves expanding the mine to the east and south to add a new waste rock landform, expand an existing one, and increase water storage capacity. The expansion will increase the development envelope by 28 per cent to 2826 hectares. The construction of a third Chemical Grade Plant (CGP3) was completed with first ore processed in December 2025.

approximately 400 people (in 2017)

The Nova Operation comprises two orebodies, Nova and Bollinger, which are now recognised as a single continuous deposit known as Nova-Bollinger. The mineralisation is dominated by pyrrhotite, with pentlandite and chalcopyrite. Cobalt is strongly correlated with nickel and is found concentrated in pentlandite.

Production overview - 2025: nickel 16371 t, copper 7324 t, cobalt 581 t; 2024: nickel 20806 t, copper 9922 t, cobalt 735 t.

conventional crushing, grinding, flotation, and filtration processes to produce separate nickel and copper concentrates

conventional crushing, grinding, flotation, and filtration processes; 1.5 million tonnes per year processing plant; sub-level open stoping with paste fill; longhole echelon retreat stoping

The mine is transitioning to a fully open-pit operation, with underground mining being phased out.

Production overview - 2023: gold 90363 oz, silver 22415 oz.

The Casa Berardi processing facility includes a mill with a capacity of 3,730 tonnes per day and a carbon-in-leach (CIL) circuit to recover gold.

The open-pit operations use conventional truck-and-shovel methods.

Orezone Gold Corporation plans to initiate a multi-year exploration drill program of 80,000 to 100,000 metres per year. The company is also conducting trade-off studies to evaluate the potential for increasing underground production from existing infrastructure.

The Silver Valley / Star project is an exploration-stage asset located in Wallace, Idaho, within the historically significant Silver Valley mining district. Hecla Mining Company is actively engaged in exploration activities across its extensive land holdings in the area, with the Silver Valley / Star project being a key focus. For 2025, 9% of Hecla's exploration budget has been allocated to the Silver Valley. The project is focused on silver, lead, and zinc mineralisation.

Production overview - 2025: silver 3245000 oz, lead 62810 t, zinc 61440 t.

The San Juan Silver project is located in the Creede Mining District of Colorado, a historically prolific silver-producing region. Hecla Mining Company acquired the remaining 30% interest in the project to consolidate its ownership to 100%. The project is currently in the development and exploration phase and is considered a high-impact development project by Hecla Mining. It is allocated 1% of the company's exploration budget. The project includes the historic Bulldog Mine, which produced 25 million ounces of silver between 1969 and 1985.

Production overview - 2025: silver 36760000 oz.

Hecla is strategically advancing the project to access underground infrastructure for resource confirmation and expansion.

The Republic project is an exploration-stage asset held by Hecla Mining Company. The company's website lists Republic as an exploration project for gold. A 2022 company filing with the SEC also lists the Republic mining district in Washington state as one of its project areas. Recent company disclosures regarding exploration activities have not provided specific updates on the Republic project. In February 2026, Hecla announced it would nearly double its exploration and pre-development budget to $55 million for 2026. However, the stated focus for this increased expenditure is on projects in Nevada and its producing assets at Greens Creek (Alaska), Keno Hill (Yukon Territory), and Lucky Friday (Idaho), with no mention of the Republic project. Hecla's 2025 exploration focus noted a $22 million budget, but did not specify an allocation for the Republic project. The associated, nearby Knob Hill mine, which Hecla acquired in 1981 and operated until its closure in 1995, is listed by the Washington State Department of Ecology as "Awaiting Cleanup". Hecla has dismantled the mill and many administrative buildings and continues with long-term water management and treatment at the Knob Hill site.

The Monte Cristo project is an exploration-stage asset located in the Walker Lane Trend. It features a six-mile mineralised trend with multiple targets. Hecla Mining Company is systematically advancing these targets through detailed mapping, geochemistry, and the generation of cross-sections to make them drill-ready. Surface rock chip sampling has yielded results of up to 0.46 oz/ton gold and 2.5 oz/ton silver in areas that have not yet been tested by drilling. The project is part of Hecla's Nevada portfolio, which the company considers a high-impact development opportunity.

The inferred resource for the Monte Cristo project has an estimated metallurgical recovery of 85% for gold and 85% for silver.

30 to 35 people during the project's exploration phase

The Libby Exploration Project, formerly known as Montanore, is an underground silver and copper exploration project located in Lincoln County, Montana, United States. It is operated by Montanore Minerals Corporation, a wholly-owned subsidiary of Hecla Mining Company. The project is currently in the exploration phase, with activities planned over approximately 16 years to collect data on the feasibility of a potential mine. As of December 2024, it had an inferred resource of 112.2 million tonnes grading 1.6 oz/t silver and 0.7% copper.

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

The Hollister mine is a low-sulfidation epithermal gold-silver deposit located in Elko County, Nevada. It is part of Hecla Mining Company's Nevada Operations, which also include the Fire Creek, Midas, and Aurora mines. As of early 2026, the Nevada Operations remain on care and maintenance. Production at the Hollister mine was suspended in the third quarter of 2019. Hecla's strategic focus for its Nevada properties, including Hollister, is on exploration. The company has highlighted the potential of its Nevada portfolio as a high-impact development project with near-term production potential. The pre-existing infrastructure at Hollister and its location within hauling distance of Hecla's Midas mill are considered advantageous for the development of any new discoveries, avoiding the need for a new mill on-site.

There has been no production at the Hollister mine since operations were suspended in 2019.

Hecla Mining Company significantly increased its exploration and pre-development budget for 2026 to $55 million, with a substantial portion allocated to its Nevada projects, including Hollister. The company's exploration efforts are focused on the Hatter Graben vein system, which is described as having a known inferred resource containing 141,600 ounces of gold and 1,251,700 ounces of silver. The grades for this resource are reported at 0.38 oz/ton for gold and 3.4 oz/ton for silver, with the mineralization open for expansion. These resource figures are as of 31 December 2025. A March 2026 company presentation indicated a potential development decision for a restart of the Midas mine by 2029-2030, which could create a processing hub for ore from other Nevada properties like Hollister. State and federal approvals for waste rock and underground water management are required for the development of the Hatter Graben or other potential expansions at Hollister.

2 employees

The Fire Creek mine is a low-sulphidation epithermal gold-silver deposit located in Lander County, Nevada. It was acquired by Hecla Mining Company in July 2018 and is part of their Nevada Operations. The mine was placed on care and maintenance in the second quarter of 2021 after processing the remaining non-refractory ore stockpile. Hecla Mining was conducting a strategic review of its Nevada portfolio in 2025 to re-rank priorities. The company's exploration budget for 2026 has been significantly increased compared to 2025, following positive results. Hecla anticipates incurring care and maintenance costs until sufficient exploration success and development could justify a restart of mining operations.

Production overview - 2023: gold 683 oz.

The Connaught project is a polymetallic vein-style deposit. Hecla Mining Company acquired the project through its acquisition of ATAC Resources. The property is located approximately 65 kilometres west of Dawson City. Historically, it has been explored as a high-grade silver-lead-zinc-copper-gold vein prospect. The deposit type is classified as Vein Polymetallic Ag-Pb-Zn+/-Au.

Production overview - 1966: gold 22.700000000000003 t, silver 22.700000000000003 t, lead 22.700000000000003 t.

zero (in 2021)

The Aurora mine is a gold and silver project operated by Hecla Mining Company, located in Mineral County, Nevada, United States. The project is situated in the historic Aurora mining district, near the California-Nevada border. Currently, the Aurora project is on care and maintenance, with a focus on exploration and permitting for future activities.

no production in 2023, production suspended in second half of 2021

600-ton-per-day mill, amalgamation, cyanidation

600-ton-per-day mill

significant exploration program, including the Polaris project, with federal approval for drilling activities to commence in 2026 at up to 250 sites

252 (as of 31 December 2024)

Production at Keno Hill commenced in the second half of 2023, and the mine is currently in a ramp-up phase, not yet having reached commercial production. For the first quarter of 2024, the mine produced 0.6 million ounces of silver. The operation is facing some challenges, including power curtailments from the local utility. Hecla is focused on advancing development and increasing throughput.

Production overview - 2025: silver 3020000 oz; 2023: silver 1500000 oz.

The Keno Hill mine utilises a conventional sequential flotation process to produce silver and zinc concentrates. The mill has a permitted capacity of 400 tonnes per day.

The current mining fleet includes two Caterpillar R1300 6.8-tonne payload LHDs, two Cat AD22 20-tonne class haul trucks, two Epiroc 282 twin boom jumbos, and two MacLean SSB bolters.

Capital investment in 2023 totalled $44.7 million, focusing on key infrastructure projects such as a shotcrete plant, a cemented rock fill plant, and upgrades to the mill's secondary crushing circuit. Hecla's exploration efforts are concentrated on expanding the Bermingham deposit and other high-potential targets within the district.

As of 2024, the mine employed approximately 512 people.

The Greens Creek mine is an underground operation located within the Admiralty Island National Monument, approximately 18 miles southwest of Juneau. It is one of the largest and lowest-cost primary silver mines in the world. The primary mining methods are cut and fill, and longhole stoping. The mine operates 24 hours a day, 365 days a year. Access to the site is by sea, followed by a 13-mile road. Major facilities include the underground mine, an ore concentrating mill, a dry stack tailings facility, a ship-loading facility, and camp facilities.

Production overview - 2025: silver 8700000 oz, gold 59349 oz, lead 18200 t, zinc 51300 t; 2024: silver 8500000 oz, gold 55275 oz.

The ore processing facility uses a flotation and gravity process to recover silver, gold, lead, and zinc. The mill processes approximately 2,300 tons of ore per day. A dry-stacked tailings process is utilised, and in 2024, 46% of the tailings were reused as backfill in the underground mine. Metallurgical recoveries in 2025 were 79.3% for silver, 74% for gold, 82.6% for lead, and 88.8% for zinc. In 2024, recoveries were 79% for silver, 72% for gold, 81% for lead, and 89% for zinc.

The mine uses fibre optics to tele-operate autonomous equipment from the surface.

In November 2024, the U.S. Forest Service issued a final decision approving an expansion of the mine's tailings disposal facility. This decision extends the mine's production life by 12 to 18 years, allowing operations to continue until at least 2043. The current tailings facility was anticipated to reach capacity by 2025. Copper became a payable metal for the mine in 2024, adding a new revenue stream.

536 (for Kipushi Corporation)

Production overview - 2025: zinc 203168 t; 2024: zinc 50307 t.

A new 800,000-tonne-per-annum concentrator was completed in May 2024. The plant uses dense media separation, milling, and flotation. A debottlenecking program is underway to increase the processing capacity to 960,000 tonnes per annum.

A new large-capacity Sandvik jaw rock crusher has been installed at the 1,150-metre level.

The current focus is on mining the Big Zinc and Southern Zinc zones. The 2022 feasibility study is based only on the zinc-rich resources, with potential for future development of copper and silver-rich orebodies.

The Platreef PGM-Nickel Mine is an underground operation in Limpopo Province, South Africa, which commenced production and produced its first concentrate on November 18, 2025. It is currently in a production ramp-up phase, with a Phase 1 concentrator milling capacity of 770,000 tonnes per annum. The mine is undergoing phased expansion, with Phase 2 targeted for completion in Q4 2027, aiming to significantly increase production of platinum, palladium, rhodium, gold, nickel, and copper.

The mine officially opened and produced its first batch of concentrate on 18 November 2025. The first sale of concentrate was completed in late fourth quarter 2025 to Northam Platinum.

The Phase 1 concentrator has a milling capacity of 770,000 tonnes per annum. Construction of the Phase 1 concentrator was completed in the third quarter of 2024, with first concentrate produced on 18 November 2025. The concentrator is initially processing lower-grade development ore and is expected to switch to higher-grade production ore in the second quarter of 2026.

The mine is accessed via shafts. Shaft 1 is complete. Shaft #3 is expected to be operational by April 2026, which will increase the mine's hoisting capacity five-fold to 5 million tonnes per annum. Shaft #2 is being widened to support future expansion. Primary mining methods are longhole stoping and drift-and-fill.

A phased expansion is underway. Phase 2 development is in progress and is targeted for completion in the fourth quarter of 2027; it is expected to increase production to approximately 450,000 ounces of platinum, palladium, rhodium and gold (3PE+Au), plus about 9,000 tonnes of nickel and 6,000 tonnes of copper annually. The total combined processing capacity of Phase 1 and 2 will be 4.1 million tonnes per annum. A future Phase 3 expansion is being assessed which would increase processing capacity to 10.7 million tonnes per annum and more than double production to over 1 million ounces of 3PE+Au, approximately 22,000 tonnes of nickel and 13,000 tonnes of copper annually.

approximately 6,000

Production overview - 2022: copper 333497 t.

The complex utilises multi-phase concentrator plants for flotation of copper ore. The total design processing capacity, with the completion of the Phase 3 concentrator, is 14.2 million tonnes per annum. The Phase 1 and 2 concentrators' copper recovery rate is approximately 87%, with "Project 95" underway to increase this to around 95%. A new on-site direct-to-blister flash smelter with a capacity of 500,000 tonnes per annum commenced operations in late 2025, producing 99.7%-pure copper anodes. The smelter also produces high-strength sulphuric acid as a by-product.

The underground mining operations are highly mechanised. Equipment includes underground mobile mining equipment from Sandvik, Epiroc, and Normet Oy. Specific models include Epiroc's Minetruck MT65 S haulers (65-tonne payload), Scooptram ST18 S loaders (18-tonne payload), Boomer 282 face drilling rigs, and Simba E70 S production drilling rigs.

The Phase 3 concentrator was completed ahead of schedule and began producing concentrate on 10 June 2024, reaching commercial production in the third quarter of 2024. This increases the total processing capacity to 14.2 million tonnes per annum and is expected to boost annual copper production to over 600,000 tonnes. A March 2026 technical report revised production guidance to between 290,000 and 330,000 tonnes of copper anodes in 2026, and 380,000 to 420,000 tonnes in 2027. This revision is due to a renewed focus on developing long-term infrastructure. The company targets annualised copper anode or blister production to be over 500,000 tonnes from 2028 onwards. A potential Phase 4 expansion is being studied, which would further increase processing capacity.

Production at the Forrestania Nickel Operation ceased in September 2024, and the site was transitioned to care and maintenance. IGO Limited completed the sale of the Forrestania Nickel Operation assets to Medallion Metals Limited, with the handover targeted for 27 February 2026 and completion announced on 2 March 2026. Medallion Metals has renamed the project the Forrestania Gold Project and it will serve as the company's long-term gold processing and development hub.

Production overview - 2024: nickel 7571 t; 2023: nickel 22915 t.

The sale to Medallion Metals included the Cosmic Boy processing plant and associated infrastructure. Medallion intends to utilise the infrastructure to process ore from its Ravensthorpe Gold Project.

Production overview - 2025: nickel 2089 t; 2024: nickel 4374 t.

The operation included the Cosmic Boy processing facility, which processed ore from the Flying Fox and Spotted Quoll underground mines.

Following the depletion of nickel reserves, IGO completed the sale of the Forrestania assets to Medallion Metals in March 2026 for no cash consideration. Medallion Metals intends to use the acquired infrastructure, including the Cosmic Boy processing plant, for its Ravensthorpe Gold Project.