Daily mining update for Aug. 28, 2026: Mining and natural-resource companies reported a major zinc-and-silver transaction, new copper project financing, strategic exploration capital, gold resource growth and fresh surface exploration results. The roundup below focuses on announcements published Aug. 27–28, 2026, with a separate U.S. critical-minerals policy item.
Key mining news
Boliden agrees to acquire controlling stake in Nexa Resources
Boliden AB and Votorantim S.A. signed a definitive agreement under which Boliden would acquire Votorantim’s entire stake in Nexa Resources, representing 64.68% of Nexa’s shares and votes. Votorantim would receive 0.250 newly issued Boliden shares for each Nexa share, leaving it with about 7% of Boliden. Nexa is a zinc and silver producer with operations in Brazil and Peru.
Boliden said it plans to launch a voluntary cash tender offer for Nexa shares not acquired in the transaction after closing. Completion is expected in the first quarter of 2027, subject to shareholder and regulatory approvals. The deal would broaden Boliden’s Latin American base-metals exposure, but the proposed transaction remains conditional. Read Boliden’s transaction announcement.
McEwen Copper closes US$240 million Los Azules term loan
McEwen Inc. (NYSE: MUX; TSX: MUX) said its 46.3%-owned subsidiary McEwen Copper closed a US$240 million senior secured four-year term loan. Sprott Natural Resource Investment Partners provided US$112 million, Chairman Rob McEwen provided US$85 million, and other lenders supplied the remaining US$43 million.
Proceeds are intended to support engineering and early works at the Los Azules copper project in San Juan, Argentina, as well as general corporate purposes. McEwen Copper expects a final investment decision and full project financing in mid-2027 and has targeted commercial copper cathode production for 2030, subject to financing and approvals. The loan is a funding step, not a final investment decision. Read McEwen’s release.
Rio Tinto investment closes in Mogotes Metals
Mogotes Metals (TSXV: MOG) announced the closing of Rio Tinto Canada’s strategic investment. Rio Tinto subscribed for 30,387,857 units at C$0.70 per unit for gross proceeds of about US$15 million, or C$21.27 million. The units include one-half of a warrant; each whole warrant is exercisable at C$1.00 for 18 months.
The placement gives Rio Tinto an initial interest of approximately 5% in Mogotes. The companies also formed a strategic and technical alliance focused initially on Mogotes’ Filo Sur copper-gold-silver project in the Vicuña district of Argentina and Chile. Proceeds will fund work programs at Filo Sur. Read the Mogotes announcement via Newsfile.
Thesis Gold & Silver completes C$58.46 million offering
Thesis Gold & Silver (TSXV: TAU; OTCQX: THSGF) completed a private placement with aggregate gross proceeds of C$58,462,111. The offering included C$28.46 million of hard-dollar common shares and C$30 million of charity flow-through shares. AngloGold Ashanti increased its strategic investment from approximately 5% to 9.7% of Thesis’s issued common shares.
The flow-through proceeds are designated for eligible Canadian exploration expenses related to the Lawyers-Ranch gold-silver project in British Columbia, while the common-share proceeds are for working capital and general corporate purposes, including technical studies. The securities remain subject to applicable statutory restrictions. Read the Aug. 27 CNW release carried by Yahoo Finance.
Caledonia reports gold resource growth at Motapa and Blanket
Caledonia Mining (NYSE American: CMCL; AIM: CMCL; VFEX: CMCL) reported a maiden mineral resource estimate for its 100%-owned Motapa property in Zimbabwe of 379,000 ounces of measured and indicated gold in 7.8 million tonnes at 1.51 grams per tonne, plus 131,000 inferred ounces in 2.7 million tonnes at 1.48 grams per tonne. The estimate is based principally on drilling at Motapa North and excludes the company’s 2026 exploration campaign.
In a separate Aug. 28 release, Caledonia said measured and indicated underground resources at its Blanket mine increased 22% to 2.178 million ounces of gold in 17.7 million tonnes grading 3.83 grams per tonne. These are mineral-resource estimates, not mineral reserves, and the company said further technical and economic work is required before development decisions. Read the Motapa release and the Blanket resource release.
Tocvan expands surface targets at Gran Pilar
Tocvan Ventures (CSE: TOC; OTCQB: TCVNF) reported additional surface exploration results from its 100%-owned Gran Pilar gold-silver project in Sonora, Mexico. The company said rock-chip samples from an expanded Bojorquez target and a newly defined Central Corridor zone returned values of up to 2.4 grams per tonne gold, 67 grams per tonne silver and 1.6% copper. The Central Corridor has been traced for more than 1,000 metres of strike, according to the release.
Sampling and mapping remain in progress, with follow-up trenching and drilling planned as targets are refined. Tocvan also said its fully permitted 50,000-tonne pilot facility is advancing, but the company’s stated fourth-quarter 2026 first-production target is forward-looking and remains subject to execution and other risks. Read Tocvan’s Aug. 28 release.
U.S. DOE selects seven early-stage critical-minerals projects
The U.S. Department of Energy’s Office of Critical Minerals and Energy Innovation said its Critical Materials Innovation Hub selected seven projects for US$10 million in early-stage research and development. The work is intended to advance technologies relevant to domestic supply chains, including recovery and refining of heavy rare earths, gallium, copper and other materials.
This is a policy and technology-development signal rather than a mine financing announcement. The DOE notice describes selected projects and research priorities; it does not by itself establish commercial production or project economics. Read the DOE announcement.
What investors should watch
The day’s announcements point to three recurring themes: large miners using transactions and partnerships to secure future base-metal supply, junior developers relying on strategic or flow-through capital to fund exploration, and governments supporting processing and technology development alongside traditional mining. Resource estimates and exploration samples are important milestones, but they do not establish reserves, project economics or commercial production on their own.
This article is for informational purposes only and is not financial advice.
