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The Kinskuch property is an exploration project and is now part of the larger, district-scale Kitsault Valley Project. The property is covered by a five-year Exploration Permit on both Nisga'a and Gitanyow Traditional Lands. It is located in the Golden Triangle of northwestern British Columbia, adjacent to Dolly Varden's existing Kitsault Valley Project. The acquisition increased Dolly Varden's total tenure in the area to approximately 77,000 hectares.

Following the acquisition in May 2025, Dolly Varden Silver announced a fully funded exploration program for the broader Kitsault Valley Project, which includes the Kinskuch property. The 2025 program includes a minimum of 35,000 metres of diamond drilling. The exploration strategy aims to apply the geological models developed at the Kitsault Valley Trend to the newly acquired Illiance Trend on the Kinskuch property. The consolidation of the Kinskuch property is expected to allow for more efficient exploration of the region. Dolly Varden's exploration efforts for the 2025 season are focused on expanding high-grade mineralization at the nearby Wolf and Homestake Silver deposits, as well as testing other promising targets within the consolidated project area. A new mineral resource estimate for the entire Kitsault Valley Project is anticipated in May 2026.

The Connaught project is an exploration-stage property. Hecla Mining Company's official company presentations and website identify the primary commodity of interest as copper. News reports from the time of the acquisition by Hecla also describe the project as a high-grade silver-lead-zinc-copper-gold vein prospect. The property consists of a large land package of over 1,830 square kilometres, which also includes the Rackla project. As of the acquisition in July 2023, Hecla stated it was not obligated to make significant expenditures over the next decade to maintain control of the land package, allowing for flexibility in the pace of exploration spending.

Approximately 250 employees and contractors during active mine and reclamation operations

Production overview - 2025: silver 3020000 oz, lead 3295.8 t, zinc 2038.5 t; 2024: silver 2773873 oz, lead 2658.1 t, zinc 1367.1 t.

The mine has a fully permitted 400 tonne per day mill. The processing facilities produce silver, lead, and zinc concentrates.

Hecla Mining is focused on advancing permits and infrastructure projects to help Keno Hill reach its current permitted capacity. Power curtailments from the utility, Yukon Energy, were experienced in late 2024 and the first quarter of 2025 due to a turbine failure at the Aishihik hydroelectric plant. A March 2024 technical report announced proven and probable silver reserves of 55 million ounces. Exploration is ongoing, with a focus on areas northeast of the Deep Bermingham ore body and resource conversion and expansion in the Bermingham Bear Zone.

296 hourly and 101 salaried employees (as of 2022)

The Lucky Friday mine is an underground operation in Idaho, United States, owned 100% by Hecla Mining Company. It produces silver, lead, and zinc. Production was temporarily suspended in August 2023 due to a fire and restarted in January 2024.

Production overview - 2023: silver 3100000 oz; 2021: silver 3600000 oz.

The mine has a processing plant with a capacity of 1,000 short tons per day. The facility is a concentrator that produces silver-lead and zinc concentrates, which are then transported by truck to a smelter in Trail, British Columbia, Canada.

The mobile equipment fleet includes LHDs, mechanized bolters, and longhole drills. In 2022, the company planned to purchase two Cat R1600 loaders for development.

A significant recent development is the completion and commissioning of the #4 Shaft, a major project that provides access to deeper, higher-grade ore bodies and is expected to extend the mine's life. The company has also patented and implemented the Underhand Closed Bench (UCB) mining method, which is reported to have improved safety and productivity.

Approximately 512 people as of 2024.

Production overview - 2025: silver 8.7 Moz, gold 59349 oz, lead 18.2 kt, zinc 51.3 kt; 2024: silver 8.5 Moz, gold 55275 oz.

The ore processing facility utilises a SAG/ball mill grinding circuit, followed by differential flotation to produce three concentrates: a silver concentrate, a zinc concentrate, and a zinc-rich precious metals concentrate. A gravity circuit is also used to recover free gold. The mine processes approximately 2,300 tons of ore per day. In 2024, 46% of tailings were reused as backfill.

Major underground equipment includes Sandvik LH514 LHDs, capable of semi-autonomous and tele-remote operation.

Hecla is evaluating the feasibility of a pyrite concentrate circuit at the Greens Creek mill to potentially boost silver and gold recoveries. The company is also advancing a tailings reprocessing project, with metallurgical studies underway. An early cost estimate for the tailings facility expansion was in the tens of millions of dollars. Capital investment for the Greens Creek operation was $47.8 million in 2024, which was a 10% increase over the prior year, primarily due to increased mine development and mobile equipment purchases.

The South West Creek Project is a pit-to-port iron ore infrastructure solution in the Pilbara region of Western Australia, operated by Mineral Resources Limited (MinRes). The project's primary focus is the development of a new iron ore export facility at Stanley Point Berth 3 in South West Creek, within the Port of Port Hedland. This development is part of a Port and Rail agreement between MinRes, Hancock Prospecting Pty Limited, and Roy Hill Holdings Pty Limited. Under this agreement, the parties will jointly investigate and develop the new facility, with Roy Hill providing rail haulage and port services. The joint venture between MinRes and Hancock was granted a port capacity allocation for the development of the berth by the Western Australian Government. The project is intended to unlock stranded iron ore assets in the Pilbara, such as the Marillana and Ophthalmia projects, which form the basis of the South West Creek Hub. Mineral Resources has the right to earn a 50% interest in these projects from Brockman Mining Limited. The South West Creek Project could provide an additional 20 million tonnes of annual export capacity for Mineral Resources. The development is subject to further approvals, necessary agreements, and a positive final investment decision from the joint venture partners. As of early 2022, the partners were progressing with a feasibility study and the finalisation of approvals.

The project is expected to provide an additional 20 million tonnes of annual export capacity for Mineral Resources.

Investigating the development of a new iron ore export facility at the Port of Port Hedland in partnership with Hancock Prospecting and Roy Hill.

Approximately 1,000 employees were impacted by the closure under Mineral Resources. Mineral Resources aimed to redeploy as many as possible, with almost 800 vacancies available across its other operations. Over 780 employees were successfully redeployed to other projects.

Mineral Resources announced the closure of the Yilgarn Hub in June 2024 due to financial non-viability, ceasing iron ore shipments by December 2024. Operations transitioned to care and maintenance in early 2025, and the mine was sold to Yilgarn Iron Investments Pty Ltd (YII) on 30 June 2025.

Production overview - 2024: iron ore 7.6 Mt; 2022: iron ore 8.7 Mt.

In the 2023 financial year, production at the Yilgarn Hub was converted to process both lump and fines.

The assets included five digger fleets, 28 trucks, and 25 pieces of ancillary gear, which were to be redeployed across Mineral Resources' other businesses prior to the sale.

Prior to the closure announcement, Mineral Resources was exploring the transformation of the Yilgarn Hub from a hematite to a magnetite operation. Exploration drilling and environmental studies for hematite and magnetite targets were planned to continue into the 2025 calendar year.

Up to 500 people; the company is expanding its lithium workforce to support the transition to underground operations.

Production overview - 2025: lithium 203000 t; 2024: lithium 166000 t.

The processing plant uses crushing and a Dense Media Separation (DMS) concentrator. It has an annual production capacity of approximately 600,000 tonnes of spodumene concentrate (SC6 equivalent). Optimisation of the existing regrind milling circuit and repurposing of magnetic separators in FY25 improved average grade and recovery. Detailed design for a flotation plant to improve product recovery is close to being finalised as of April 2026.

Production is from open pit methods using a conventional drill, blast, load and haul mining cycle.

The mine is transitioning to a combined open pit and underground operation. The first blast for the underground exploration decline portal was fired in June 2024. After being deferred at the end of the first half of FY25, tendering commenced in April 2026 for an underground mining contractor to recommence development. An underground mining study is expected to be completed in the fourth quarter of FY26. MinRes is targeting first underground development ore in mid-2025 and first production ore by the end of 2025. A diamond drilling program in late 2023 significantly increased confidence in the underground resource. As of January 2024, the underground Mineral Resource was updated to 19.3Mt at a grade of 1.22% Li2O, a 111% increase.

Expected to employ over 7,500 people during peak construction and around 3,500 direct long-term jobs once in production.

The Reko Diq Project is owned by the Reko Diq Mining Company (Private) Limited (RDMC), which is indirectly 50% owned by Barrick Gold Corporation. The remaining ownership is held by Pakistani state-owned enterprises (25%) and the Government of Balochistan (25%). As of April 2026, Barrick announced a slowdown in development activity due to escalating security risks, extending a comprehensive project review until mid-2027. This review will assess security, capital requirements, financing, scope, and timeline, with anticipated increases to the capital budget and timeline. Despite the slowdown, Phase 1 development was approved, and an updated feasibility study and Environmental and Social Impact Assessment (ESIA) have been approved.

Production overview - 2024: gold 13000000 oz, copper 7300000 t.

Processing facilities will produce a high-quality copper-gold concentrate.

Conventional truck-and-shovel operation. Processing facilities. Key suppliers include Fluor Corporation (EPCM partner), Metso, Weir, and Komatsu.

Construction in two phases. Phase 1 development approved. Potential expansion could increase copper production to 400kt per year.

The mining activities are undertaken by a multinational workforce including personnel from Saudi Arabia, West Africa, Australia, Indonesia, Egypt, Zambia, New Zealand, the United Kingdom, Ireland, the Philippines, Tanzania, and Ghana.

Production overview - 2025: copper 64000 t; 2024: copper 65000 t.

The mine uses conventional flotation to produce copper concentrate. The facility has an annual copper concentrate production capacity of 260,000 tonnes, with a metal content ranging between 50,000 and 60,000 tonnes. The project aimed to extract approximately 3 million tonnes of ore per year. In 2025, 3.1 million tonnes of ore were hauled. The mine has switched from diesel generators to grid power after extensive works were completed in 2025.

The mining contractor, Byrnecut, uses 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, plus 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 development project for this extension was completed in 2024, which included extensive underground capital works and major upgrades to ventilation, the paste plant, and supporting infrastructure. Stoping at Lode 1 began in the third quarter of 2023. Commissioning of the paste plant began in the second quarter of 2024. Barrick and Ma'aden are also exploring for further opportunities at Jabal Sayid South and Umm Ad Damar.

New Porgera Limited (NPL) expects to employ approximately 3,200 people by the end of 2024. As of early 2024, over 2,000 people were employed, with 98 percent being Papua New Guineans.

Production overview - 2025: gold 376057 oz; 2024: gold 188082 oz.

The processing method at Porgera involves crushing and grinding the ore, followed by gravity recovery of free gold using Knelson concentrators. A flotation process is used to create a sulphide concentrate, which then undergoes pressure oxidation in autoclaves. The final stage of gold recovery is through a conventional carbon-in-pulp (CIP) cyanide leaching circuit, which produces gold doré bars. An Acacia Reactor is also used to treat the gravity concentrate.

In the first quarter of 2025, an order was placed for seven new Sandvik surface drill rigs to replace an aging fleet, with deliveries expected from June to November 2025. The order includes four Sandvik DR410i rotary blasthole drill rigs and three Leopard DI650i down-the-hole drill rigs. Two of the Leopard DI650i drills are equipped with reverse circulation sampling capabilities for ore body identification and grade control. All seven new surface drills will be connected to Sandvik's Remote Monitoring Service. This follows a partnership to supply new Sandvik trucks, loaders, and drills for the underground operations, with deliveries that began in 2024 and are expected to continue through 2028. Historically, the open pit mine utilised a fleet of Caterpillar 777 and 789 trucks, loaded by O&K shovels and other excavators and loaders. The underground mine employed a trackless fleet including Elphinstone LHDs and trucks.

After being on care and maintenance since April 2020, the Porgera mine reopened on 22 December 2023 under the new operator, New Porgera Limited (NPL). The mine is ramping up to full production, which was expected to be reached before the end of the third quarter of 2024. A Community Development Agreement (CDA) is being finalised to manage the distribution of benefits to local stakeholders. The long-term plan is to return Porgera to Tier 1 status, with a forecast production of over 600,000 ounces in 2027 and beyond. The economic benefits from the mine are to be shared 53% by PNG stakeholders and 47% by Barrick Niugini Limited over the life of the mine.

approximately 7,000 people

Nevada Gold Mines is the largest gold mining complex in the world, comprising multiple mines and processing facilities including Cortez, Goldstrike, Turquoise Ridge, Goldrush, Carlin, Twin Creeks, and Phoenix mines. The Long Canyon mine transitioned to care and maintenance at the end of 2023.

Production overview - 2021: gold 1003580 oz, silver 1444326 oz, copper 36736179 lbs.

The complex features various processing facilities such as roasters, autoclaves, oxide mills, and heap leach pads. Examples include the Gold Quarry Roaster, Goldstrike Autoclave, and Goldstrike Roaster at Carlin, and an oxide mill and heap leach areas at Cortez. Refractory ore from Cortez is shipped to Goldstrike for processing.

A new development is the Goldrush underground mine, which is expected to reach commercial production by 2026 and grow to an annual output of approximately 400,000 ounces by 2028. The company is also focused on advancing key growth projects, including the ramp-up of the Goldrush mine.

The Star Mine, also historically referred to as the Star-Morning Mine, is located in the Silver Valley of Idaho, United States, and is operated by Hecla Mining Company. The mine is situated near Burke, in Shoshone County. The operating status of the Star Mine is currently inactive. Hecla Mining shut down operations at the Star-Morning mine in 1982. The mine was subsequently salvaged and abandoned that year. Following Hecla's closure, the mine was leased by Star-Phoenix Mining Company, which operated it until it closed again in 1990. In the early 2010s, Hecla initiated pre-development and exploration activities to evaluate the potential reopening of the mine. This included the rehabilitation of the Star 2000 level to provide mine access for underground drilling. However, there is no indication from the research that the mine has resumed production.

Production overview - 2011: silver 3.15 Moz, zinc 61 kt, lead 69 kt.

Historically, the Hecla mine and mill complex was converted in 1937 to a flotation plant to process ore from the Star Mine. The Sullivan Mining Company, a joint venture between Hecla and Bunker Hill, operated an electrolytic zinc plant in Kellogg to process Star ore, which became operational in October 1928.

In the early 2010s, Hecla initiated pre-development and exploration activities to evaluate the potential reopening of the mine, including the rehabilitation of the Star 2000 level to provide mine access for underground drilling.

The San Juan Silver project is a high-impact development project located in the historic Creede Mining District, a prolific silver-producing area in Colorado. Hecla Mining Company holds a 100% interest in the project. The project is currently in the development stage, with a focus on accessing underground infrastructure for resource confirmation and expansion. The San Juan Silver project encompasses the historic Bulldog mine, which produced over 20 million ounces of silver between 1969 and 1985. Hecla's current activities are focused on pre-development, including the rehabilitation of access ramps and underground drilling to test targets at the Equity and West Amethyst veins. A conceptual study has been completed for a 500-ton-per-day operation.

Production overview - 2025: silver 1143.2 t, gold 0.8 t, lead 49270 t, zinc 40310 t.

The Republic Project is an exploration-stage opportunity for Hecla Mining Company in a historically significant gold-producing district in Washington state. Hecla has a strategic landholding of 3,583 acres that covers all major productive trends, including the past-producing Knob Hill, Golden Promise, and other mines. The project is classified as an "emerging opportunity" within Hecla's exploration portfolio, with 1% of the 2025 exploration budget allocated to it. Hecla is employing modern exploration techniques, including 3D modelling, to assess the potential for new discoveries, and recent exploration has yielded multiple high-grade gold intercepts.

The Monte Cristo project is an exploration-stage asset located in Esmeralda County, Nevada. It is situated on the Walker Lane Trend and features a six-mile mineralized trend with multiple targets. Hecla Mining Company is engaged in ongoing detailed mapping, geochemistry, and cross-section generation to advance targets to a drill-ready status. Surface rock chip sampling has shown results of up to 0.46 oz/ton gold and 2.5 oz/ton silver in untested areas.

approximately 250 employees and contractors during active mine and reclamation operations (2023)

The mine is currently in a ramp-up phase. It achieved its first profitable quarter under Hecla's ownership in Q1 2025 and has had four consecutive quarters of positive free cash flow as of Q1 2026. Production in Q1 2026 was impacted by reduced power supply and lower silver grades as mining advanced through a lower-grade zone of the Bermingham deposit.

Production overview - 2026: silver 500000 oz; 2025: silver 3020000 oz, lead 3630 t, zinc 2240 t.

The mine has a fully permitted 400 tonne per day mill. The company is implementing a phased approach to optimise throughput with a goal of expanding capacity to 600 t/d. A backfill plant was constructed and was being commissioned in early 2026.

Hecla is focused on exploration to expand mineralization, particularly in the Bermingham deposit. The company has a long-term goal to potentially increase production to over 20 million ounces of silver annually, partly driven by the gradual ramp-up of Keno Hill to 440 tons per day. Permitting for amendments is underway, with an estimated timeline for receipt around mid-2029. As of year-end 2024, proven and probable silver reserves at Keno Hill increased by almost 17% to 64 million ounces. Exploration in 2024 successfully expanded high-grade mineralization in the Bermingham Bear Zone Veins.

444 employees

The Lucky Friday mine, operated by Hecla Mining Company, is an underground silver, lead, and zinc mine in Idaho, United States. Opened in 1942, it primarily uses the Underhand Closed Bench (UCB) mining technique and processes ore through a conventional silver and zinc flotation concentrator. The mine has a projected life extending to 2038.

Production overview - 2025: silver 5.3 Moz, lead 34.28 kt, zinc 14.92 kt; 2021: silver 3.6 Moz, lead 23100 t, zinc 10000 t.

Conventional silver and zinc flotation concentrator, including primary jaw crushing, secondary and tertiary cone crushing, and ball milling. Silver and zinc concentrates are shipped by truck to the Teck smelter in Trail, British Columbia, Canada.

1-yard and 2-yard loaders and single boom jumbos

#4 Shaft extending to 9,600 feet below surface for access to high-grade ore in the Gold Hunter/Lucky Friday Expansion Area. Significant capital investment in underground development, a new tailings facility, and a surface cooling project expected to be completed by mid-2026.

approximately 512 people

Production overview - 2025: silver 8.7 Moz, gold 59349 oz, lead 18.2 kt, zinc 51.3 kt; 2024: silver 8.5 Moz, gold 55275 oz, zinc 51.5 kt, lead 18.424 kt.

The mine uses a conventional flotation concentrator to process the ore. The ore is ground and then subjected to flotation to produce a gravity gold concentrate, a silver concentrate, a zinc concentrate, and a precious metals concentrate. The mine processes approximately 2,300 tons of ore per day. In 2024, 46% of the tailings were reused as backfill in the underground mine.

The mine uses underground mining methods, specifically cut and fill and longhole stoping.

In January 2026, the U.S. Forest Service approved a five-year plan of operations for the Greens Creek Surface Exploration Project. This project aims to test existing mineralised targets and identify new ones not accessible from underground operations. A project to add a pyrite concentrate circuit is expected to enhance silver and gold recoveries.

800 (for Lynas Malaysia Sdn. Bhd.)

The Lynas Malaysia advanced materials plant is located on a 100-hectare site in the Gebeng Industrial Estate. It processes mixed rare earth carbonate (MREC) from the Kalgoorlie facility and concentrate from the Mount Weld mine.

Production overview - 2024: rare earth elements 5655 t; 2023: rare earth elements 6142 t.

The Lynas Malaysia advanced materials plant is located on a 100-hectare site in the Gebeng Industrial Estate. It processes mixed rare earth carbonate (MREC) from the Kalgoorlie facility and concentrate from the Mount Weld mine. The process involves three main stages: cracking and leaching, solvent extraction, and product finishing. In the cracking and leaching stage, the concentrate is mixed with sulphuric acid and heated to convert rare earth phosphates to sulphates. Water is then used to leach the rare earth sulphates, and impurities are removed. The solvent extraction stage uses a liquid-liquid counter-current system to separate the rare earths into individual elements or groups. Finally, in product finishing, the separated rare earth elements are precipitated as solid carbonates or oxalates and then calcined to produce the respective oxides.

In October 2023, a variation to the Malaysian operating licence was granted, allowing the continuation of cracking and leaching activities at the facility. A major works program was completed in December 2023 to increase the production capacity for the NdPr family of elements to approximately 10,500 tonnes per annum. This program also involved reconfiguring a solvent extraction circuit to enable the production of Dysprosium and Terbium, with first production targeted for the 2025 calendar year. Lynas is also planning a new heavy rare earths separation facility at the Malaysian plant with a target processing capacity of up to 5,000 tonnes per annum of HRE feedstock. The initial phase of this new facility is expected to produce Samarium from Mt Weld feedstock by April 2026.

115 direct jobs

The Kalgoorlie Rare Earths Processing Facility, operated by Lynas Rare Earths Ltd, is a first-of-its-kind downstream processing plant in Australia. It undertakes value-added processing of rare earth concentrate from the Mt Weld mine. The facility produces a Mixed Rare Earths Carbonate (MREC), which is then shipped to Lynas' Malaysian facility for final separation into individual rare earth products, and in the future will also supply a planned US facility. The plant is a key component of Lynas' 2025 growth plan. First production of MREC commenced in the June 2024 quarter, with the first shipment to Malaysia also occurring during this period. The facility was officially opened on 8 November 2024.

For the period of June 2024 to 31 December 2024, the facility processed 11,986.6 dry metric tonnes of rare earth concentrate. During this same period, the facility produced 24,738.2 dry metric tonnes of gypsum by-product and 8,613.9 dry metric tonnes of iron phosphate by-product.

The processing at the Kalgoorlie facility involves a cracking and leaching process. Rare earth concentrate from the Mt Weld mine is mixed with concentrated sulphuric acid and treated at a high temperature in a 110-metre long, 6-metre high rotating kiln. This process converts the rare earth phosphate minerals into rare earth sulphate. Water is then added in a leaching stage to dissolve the rare earth sulphates, and impurities, primarily in the form of iron phosphate, are removed. The resulting solution is neutralised to produce the Mixed Rare Earths Carbonate (MREC). The facility also includes a waste gas treatment plant to clean gases from the kiln before they are released as steam through a 65-metre tall stack.

The facility is ramping up production, which is being managed to align with increased capacity at the Mt Weld mine and the Lynas Malaysia plant, as well as market demand. In early November 2025, production was impacted by significant power supply disruptions. Lynas is developing plans for an off-grid power solution to ensure energy stability.