MINEX Forum

Tag: Copper Discovery

  • Serbia’s Timok Discovery Poised to Reshape Global Copper and Gold Markets

    Serbia’s Timok Discovery Poised to Reshape Global Copper and Gold Markets

    Serbia’s Timok district, a region with a long mining tradition, has drawn international attention after Zijin Mining announced the discovery of extensive copper and gold deposits at the Malka Golaja site. With identified resources of 2.81 million tonnes of copper at an average grade of 1.87% and 92 tonnes of gold at 0.61 g/t, the find is considered highly significant and could elevate Serbia’s role in global commodity supply.

    The geological setting of the Timok district is key to its potential. Located within a metallogenic belt, the area hosts porphyry copper systems—large, lower-grade deposits—and high sulfidation zones, where both copper and gold are concentrated in higher grades. This dual mineralisation makes the region attractive for large-scale copper mining as well as high-value gold extraction.

    While the results are promising, analysts caution that the figures represent resources rather than proven reserves. Resources indicate estimated mineral quantities, whereas reserves are confirmed to be economically extractable under current market conditions. Further drilling, feasibility studies, and economic assessments will be needed before production can be confirmed.

    Economically, the copper grade of nearly 1.9% is considered high for such a large system, making the project particularly valuable in a world where copper demand is surging due to its central role in electric vehicles, renewable energy, and digital infrastructure. Gold, meanwhile, continues to serve as both a financial hedge and an essential input in electronics. The co-location of the two metals presents a cost-efficient mining opportunity.

    If developed, the Timok project could have far-reaching implications. Copper supply remains tight globally, with new high-quality projects in short supply, while gold continues to attract investors as both an industrial metal and a store of value. Serbia’s entry into the global copper and gold supply chain would not only reshape its domestic mining industry but could also influence long-term price dynamics.

  • Pallas Resources Unveils Thick Copper Outcrop at Merke and Launches Drilling at Glubokoe

    Pallas Resources Unveils Thick Copper Outcrop at Merke and Launches Drilling at Glubokoe

    London, 3 September 2025 — Pallas Resources has announced the discovery of a substantial outcropping copper zone at its Merke and Lugovoe licences in southern Kazakhstan, alongside the commencement of first drilling at the Glubokoe Project in the western Chu-Sarysu Basin. Both developments mark significant milestones in the company’s strategic alliance with Ivanhoe Mines.

    Fieldwork at Merke has revealed a 20-metre-thick copper-bearing horizon within fractured carbonate rocks, exposed in a historic pit. The discovery confirms visible surface mineralisation, including malachite and azurite, and strongly supports the structural model guiding exploration. According to the company, the mineralisation is thought to be structurally controlled, with fractures and faults serving as conduits for copper-bearing fluids.

    The Lugovoe licence, recently granted to the Pallas–Ivanhoe partnership, extends prospective stratigraphy by a further 40 kilometres to the west. Early reconnaissance has already identified surface copper mineralisation, with fold zones appearing to act as structural traps. Upcoming work will focus on detailed structural mapping, complemented by high-resolution magnetic surveys to trace mineralisation beneath cover.

    Meanwhile, drilling has commenced at Glubokoe, a 2,500 km² project in the western Chu-Sarysu Basin. The programme will comprise five diamond drill holes, each between 800 and 1,000 metres deep, totalling around 4,200 metres. The first hole is targeting extensions of mineralisation first recorded by Soviet geologists in the 1980s, where three copper-bearing intervals were intersected over a total of 26 metres, with grades ranging from 0.12% to 3% copper.

    Simon Cooper, Chief Executive of Pallas Resources, described the start of drilling as a “key milestone,” coming less than a year after the partnership with Ivanhoe Mines was formalised. Results from the current campaign are expected by late December and will help inform a planned 15,000-metre drilling programme in 2025.

    The Chu-Sarysu Basin is recognised as the world’s third-largest sediment-hosted copper province, already hosting more than 27 million tonnes of discovered copper, with the US Geological Survey estimating a further 25 million tonnes yet to be found.

    Pallas holds over 16,000 km² in the basin, making it the leading explorer in this emerging copper district. Under the terms of the alliance, Ivanhoe Mines will sole-fund $18.7 million during the initial phase, with the option to invest up to $115 million over four years.

  • Anglo Asian Mining Unveils Major Copper Discovery in Azerbaijan

    Anglo Asian Mining Unveils Major Copper Discovery in Azerbaijan

    Anglo Asian Mining (AAM), a leading British mining entity operating in Azerbaijan, has disclosed a substantial copper finding at the Kharhar site, marking a significant milestone in the nation’s mining landscape.

    In adherence to Joint Ore Reserve Committee (JORC) standards, the revelation delineates a copper mineralization zone estimated at 24.9 million tons with an average copper content of 0.48%. Notably, from 22 million tons of ore, approximately 106,000 tons of copper have been identified, contributing to a total mineral reserve estimate of 119,000 tons.

    Scheduled for copper production initiation in 2026, AAM aims to extract approximately 9,000 tons annually over a span of seven years, leveraging open-pit mining methodologies due to the site’s favorable terrain.

    The original contract inked between Anglo Asian Mining and Azerbaijan in 1997 entailed the development of six sites, with Azerbaijan holding a 51% stake and Anglo Asian Mining possessing 49%. A revised agreement in September 2021 expanded this contract to cover eight areas, granting AAM rights to three additional blocks while ceding rights to one site.

    Industry analysts foresee substantial revenue streams stemming from the Kharhar site and other contract zones, underscoring the pivotal role of the mining sector in diversifying Azerbaijan’s economy away from oil dependence. Azerbaijan, in alignment with global standards, is actively exploring innovative techniques, seeking investments, and concentrating efforts on recently liberated territories known for their significant mineral reservoirs.

    Azerbaijan’s mineral resource base, as outlined in the State Programme for Geological Exploration and Efficient Utilization of Mineral Resources Base for 2020-2024, is undergoing comprehensive exploration and development, particularly in liberated territories rich in gold, mercury, copper, and other minerals.