Daily Mining Update — August 2, 2026
Selected mining and natural-resource company developments reported on July 30–August 1, 2026, spanning gold, copper, critical minerals, platinum-group metals and rare earths. The roundup focuses on disclosed transactions, operating results, exploration and project-development milestones.
1) Equinox Gold and Orla Mining complete gold-sector business combination
- Equinox Gold and Orla Mining announced on July 31 that they completed their previously announced business combination, creating what the companies describe as a new North American senior gold producer. The combined company said it expects annual gold production of approximately 1.1 million ounces based on the midpoint of the two companies’ 2026 guidance, with a path to more than 1.9 million ounces as growth projects advance.
- The release said more than 60% of production is expected to come from three long-life Canadian mines. Equinox also said it intends to pursue Orla’s delisting and reporting-issuer steps as soon as possible. (Equinox Gold and Orla Mining)
2) Capstone Copper reports Q2 production and keeps 2026 guidance unchanged
- Capstone Copper reported 51,759 tonnes of consolidated copper production in the second quarter of 2026, with revenue of $739.7 million and adjusted EBITDA of $354.0 million. Revenue was up 36% from the year-earlier quarter, according to the company.
- Capstone left its 2026 guidance unchanged at 200,000–230,000 tonnes of copper and $2.45–$2.75 per payable pound for C1 cash costs. The company also said the Mantoverde Optimized sulphide project tie-in is expected during the third quarter, with ramp-up in late Q3/Q4. (Capstone Copper)
3) Clean Air Metals and Springbok Ventures announce proposed critical-minerals combination
- Clean Air Metals and Springbok Ventures announced an amalgamation agreement dated July 31. The proposed three-cornered transaction would combine the companies and is expected to constitute a reverse takeover of Clean Air Metals for TSX Venture Exchange purposes; the resulting issuer is expected to be named Dante Metals Corp.
- The parties said the platform would bring together Clean Air’s Thunder Bay North project and Springbok’s Maude Lake property in Ontario, with exposure to PGMs, platinum, palladium, copper, nickel and cobalt. A concurrent non-brokered financing is planned for a minimum of C$5 million, subject to transaction conditions and approvals. (Newsfile release)
4) US Critical Metals completes acquisition of Arizona copper project
- US Critical Metals said it completed its acquisition of the Korn Kob Copper Project in Arizona. Consideration consisted of 15,025,000 USCM common shares issued at $0.12 per share, according to the company’s July 31 release.
- The project comprises 146 unpatented lode claims covering about 1,200 hectares on U.S. Forest Service lands. Historical work included roughly 10,600 metres of reverse-circulation drilling in 105 holes, but the company cautioned that the historical intervals are not current mineral resources or reserves and have not been independently verified. (US Critical Metals via Newsfile)
5) Lake Victoria Gold begins Phase 3 land programme at Imwelo
- Lake Victoria Gold said its Tanzanian subsidiary began the Phase 3 land valuation and compensation programme at the fully permitted Imwelo Gold Project on August 1. The phase covers about 73 acres in Imwelo A Hamlet and is intended to support site-footprint expansion and infrastructure such as accommodation camps and workshops.
- The company expects about 60 Project Affected Persons to participate in the legally prescribed process. Lake Victoria Gold also noted that it has not completed a feasibility study on Imwelo establishing mineral reserves that demonstrate economic and technical viability; readers should distinguish the permitting and site-readiness update from a construction or production decision. (Lake Victoria Gold)
6) Greenland Mines launches 2026 field season at Skaergaard
- Greenland Mines announced on July 31 that its support vessel Argus had departed Reykjavik for the Skaergaard Project in southeast Greenland. The company said the field season will include resource drilling, bulk sampling, environmental baseline studies, geotechnical and engineering work, and aerial and ground surveys.
- The release described the project as targeting rare-earth magnet materials, including neodymium-praseodymium, as well as precious metals. It said the initial field team includes more than 40 technical experts, drillers and logistics personnel, with work intended to support a resource upgrade and the next development phase. (NewMediaWire release via Yahoo Finance)
7) Lundin Mining updates share capital and buyback activity
- Lundin Mining reported that its issued and outstanding shares decreased by 2,439,976 between July 1 and July 31, leaving 851,292,591 common shares with voting rights. The company attributed the change mainly to normal-course issuer bid purchases, partly offset by employee option exercises and share-unit vesting.
- Lundin said it had acquired 6,098,494 shares under the buyback programme during 2026 at an average cost of about C$35.70 per share and remains committed to allocating up to US$150 million annually to buybacks. (Lundin Mining)
Closing note: These announcements cover different stages of the mining cycle, from completed corporate transactions and producing-asset results to exploration-stage acquisitions and development work. Investors should review the original releases, technical disclosures, transaction documents and applicable risk factors before drawing conclusions.
Disclaimer: This article is for informational purposes only and is not financial advice.
