Sandvik has appointed Patrick Murphy as President of its Mining business area and member of Sandvik Group Executive Management, effective 1 July 2026, succeeding Mats Eriksson, who will step down ahead of his planned 2027 retirement. Murphy currently leads Sandvik’s Rotary Drilling division, giving him direct oversight of blasthole and production drilling systems that are central to large open-pit operations. The leadership change signals continuity in Sandvik’s mining equipment strategy, particularly around drill fleet technology and service models for high-production sites.

New drilling at Torex Gold Resources’ Morelos complex in Mexico has intersected high-grade zones, including 18 metres at 8.04 g/t gold, 33.9 g/t silver and 1.37% copper in hole MLLI-042 and 16 metres at 15.12 g/t gold in hole MLLI-048, both from depths around 470–565 metres. Additional intercepts such as 49 metres at 2.18 g/t gold and 95 metres at 1.5 g/t gold support continuity of mineralisation to at least 700 metres above sea level, remaining open at depth and along strike. Backed by a record US$77 million 2026 exploration budget and 148,000 metres of planned drilling, Torex aims to sustain 450,000–500,000 gold-equivalent oz. per year beyond 2030 by rapidly tying Media Luna, ELG underground and satellite deposits into existing plant infrastructure.

Lion One Metals shares fell over 30% to C$0.14 after cancelling a C$15 million private placement with Arete Capital Advisors and announcing the exit of CEO Campbell Olsen just two months into the role. The Arete deal would have issued 44.26 million units at C$0.34, each with a warrant at C$0.39, and included a master services agreement making Arete operator of the Tuvatu underground gold mine in Fiji. Tuvatu, designed for about 331,400 oz/year over five years, produced only 4,200 oz last quarter amid equipment, power and development constraints, while Lion One faces a senior loan default notice from Nebari and a shareholder move to remove directors.