Underground conversion drilling at Lundin Gold’s Fruta del Norte South deposit in Ecuador has intercepted 5.2 metres grading 491.62 g/t gold from 40.6 metres depth, confirming locally bonanza-grade mineralisation near existing workings. The shallow intercept, from underground drilling rather than surface, suggests potential for rapid incorporation into the current mine plan with limited additional development. For geotechnical and mine planning teams, the result supports tighter stope design around high-grade shoots and may justify re-optimising ground support and sequencing in this sector of the orebody.

The US Defense Logistics Agency has reopened a $500 million tender to buy up to 7,500 tonnes of cobalt after benchmark prices more than tripled since mid-August. The agency first sought offers in August but is now reissuing the procurement as spot market volatility and tight supply complicate long-term contracting. For miners and refiners, the move signals sustained US strategic demand for cobalt metal and intermediates, with potential upside for projects able to deliver secure, traceable supply into government stockpiles.

Ivanhoe Mines has signed a memorandum of understanding with the Qatar Investment Authority under which Qatar’s sovereign wealth fund will back Ivanhoe’s management in pursuing existing and new critical minerals projects in Africa. The collaboration targets large-scale copper, nickel and other battery-metal deposits across Ivanhoe’s pipeline, building on assets such as Kamoa-Kakula in the DRC. For engineers and project developers, the deal signals potential acceleration of feasibility studies, project financing and infrastructure build-out on African critical minerals hubs.