Mining news for August 14, 2026 includes a revised copper outlook from Antofagasta after severe weather in Chile, second-quarter operating updates from silver and gold companies, an updated Dominican Republic gold resource, a rare-earth project financing and the start of construction at a major Canadian uranium project. The roundup below focuses on company-reported developments from August 13–14 and recent announcements that remain timely for natural-resource investors.
Mining news highlights
- Copper: Antofagasta reported strong first-half earnings but lowered its 2026 production range after disruption at Los Pelambres.
- Silver: Americas Gold and Silver reported Q2 revenue growth, Cosalá production gains and progress on the Galena shaft upgrade.
- Gold and copper: Rio2 reported Q2 production from Fenix and Condestable while deferring the balance of its 2026 Fenix guidance.
- Gold exploration: NexGold expanded drilling at Goldboro and reported selected high-grade Goliath and Goldboro intercepts.
- Gold resource: Unigold reported 2.291 million ounces of measured and indicated gold resources at Candelones.
- Rare earths: Ucore closed a C$69 million bought-deal offering to fund development of its Louisiana Strategic Metals Complex.
- Uranium: NexGen marked the start of construction at the Rook I project in Saskatchewan.
Antofagasta lowers 2026 copper outlook after Los Pelambres disruption
Antofagasta’s 2026 half-year results showed first-half EBITDA of $2.8405 billion, up 27% from the prior-year period, and operating cash flow of $2.7729 billion, up 53%. Copper production was 285,000 tonnes in the first half, down 9% year over year.
The company said operations at Los Pelambres had resumed after an orderly shutdown linked to severe weather in Chile, but repairs are needed for some pipeline platforms and water-management systems. Antofagasta now expects 2026 group copper production of 625,000–655,000 tonnes. It also said its Centinela Second Concentrator and Los Pelambres infrastructure projects continue to advance toward commissioning in 2027.
Americas Gold and Silver reports Q2 revenue growth and Galena upgrade progress
Americas Gold and Silver’s Q2 release reported consolidated revenue of $46 million, up 71% from Q2 2025, and consolidated silver production of 665,000 ounces. Cosalá produced approximately 337,000 ounces of silver, up 26% year over year, while the Galena Complex produced approximately 328,000 ounces.
The company said Phase 2 of the Galena No. 3 Shaft modernization was complete, increasing total hoisting capacity by approximately 150% and skip payloads by 40%. Americas reiterated 2026 silver production guidance of 3.2–3.6 million ounces and said it remained on track for its $30–$35 per-ounce AISC guidance; Q2 production was affected by the shaft-upgrade shutdown and a minor electrical fire.
Rio2 reports Fenix ramp-up and defers the balance of 2026 gold guidance
Rio2’s Q2 results included consolidated production of 13,539 ounces of gold, 75,437 ounces of silver and 9.30 million pounds of copper. Fenix Gold produced 9,088 ounces of gold, while the Condestable mine produced 9.30 million pounds of copper, 4,451 ounces of gold and 74,374 ounces of silver.
Rio2 said Fenix remains on track for commercial production in Q4 2026, but it deferred its 2026 gold guidance because of the ongoing ramp-up and extreme winter weather. The company said roughly 265,000 tonnes of ore mining was deferred during snow events, corresponding to approximately 5,000 ounces of deferred gold production. At Condestable, Rio2 continues to evaluate ore sorting and a potential plant expansion to 10,000 tonnes per day.
NexGold expands drilling ahead of a planned Goldboro feasibility update
NexGold’s Q2 update said work on an updated Goldboro Feasibility Study remains on track for completion in 2026. The company expanded its Goldboro reverse-circulation infill program from 30,000 to approximately 40,000 metres; about 62% of the expanded program had been completed as of June 30.
At the Goliath Complex, NexGold completed 9,173 metres in 23 holes during Q2. Selected reported intercepts included 15.21 grams per tonne gold over 20.1 metres at Goldlund, while Goldboro drilling included 61.22 grams per tonne over 12.0 metres. These are exploration results and require the company’s technical disclosures and further work for resource-planning significance.
Unigold reports 2.291 million ounces of measured and indicated gold resources
Unigold reported an updated mineral resource estimate for the Candelones Project in the Dominican Republic, effective August 6, 2026. The combined open-pit and underground measured and indicated resource totals 69.1 million tonnes grading 1.03 grams per tonne gold and containing 2.291 million ounces of gold, along with 4.3 million ounces of silver and 131.9 million pounds of copper.
The estimate incorporates 475 drill holes totaling 120,000 metres. Unigold said roughly 93% of the known resource is measured and indicated and approximately 96% of the tonnage falls within an optimized open pit. The company also noted that the resource is not a mineral reserve and does not demonstrate economic viability; the Candelones area still requires an exploitation concession.
Ucore closes C$69 million rare-earth financing
Ucore Rare Metals said it closed a bought-deal public offering for gross proceeds of C$69.0 million, including the full exercise of the over-allotment option. The company sold 24,644,500 common shares at C$2.80 per share and said net proceeds are intended for development of its Louisiana Strategic Metals Complex, working capital and general corporate purposes.
Ucore’s Louisiana project is part of its planned North American rare-earth separation network. The financing remains subject to final approval of the TSX Venture Exchange, according to the release, and the company’s development plans remain subject to financing, permitting, construction, technology scale-up and commercial execution.
NexGen begins construction at Saskatchewan’s Rook I uranium project
CBC News reported that NexGen Energy has begun construction at the Rook I uranium project in northern Saskatchewan. The company expects to spend approximately C$2.2 billion over a four-year construction phase; surface infrastructure work has started, with shaft development expected to begin in 2027.
CBC reported that NexGen estimates Rook I could produce up to 30 million pounds of uranium annually, though the project will still require an operating licence from the Canadian Nuclear Safety Commission. The project’s construction milestone is significant for the uranium market, but the production estimate is a company projection and remains subject to construction, commissioning, permitting and operating execution.
Closing note
Today’s developments span operating performance, project construction, resource definition, exploration and financing. Investors should review the underlying releases, technical reports and regulatory filings, and distinguish measured resources from reserves, company guidance from actual production and exploration results from an economic project determination.
This article is for informational purposes only and is not financial advice.
