79Gold
Au
4,194.50
US$/oz
Day+1.50%
Week≈ +1.3%
52W≈ +4.5%
One-week high near US$4,200 as oil and long-end yields eased
47Silver
Ag
60.70
US$/oz
Day+2.77%
Week≈ +0.7%
52W≈ +20.9%
Rebounded from a midweek two-month low
29Copper
Cu
6.71
US$/lb COMEX
Day+2.17%
Week≈ +2.5%
52W≈ +38.9%
Chile strikes, a Panama quake and a US$135 Yangshan premium; LME 3-month official US$14,570
92Uranium
U
90.00
US$/lb futures, 9 Oct
Day+0.17%
Week≈ +0.1%
52W≈ +14.1%
Long-term price at a record US$97.00 in one newsletter; ASX uranium stocks fell 6-10%
78Platinum
Pt
1,685.00
US$/oz, 17:00 New York
Day+3.06%
Week≈ -0.3%
52W≈ +6.1%
Jumped 3% with the wider metals rebound
46Palladium
Pd
1,132.00
US$/oz, 17:00 New York
Day+1.98%
Week≈ -1.9%
52W≈ -19.5%
Recovered further from near a one-year low
60/59Rare earths
NdPr
738,000-741,000
RMB/t NdPr oxide, 30 Sep
Dayn/a
Weekn/a
52Wn/a
SMM says Pr-Nd oxide and alloy held steady on 9 Oct while terbium eased
What mattered this week
- 1
Gold back near US$4,200 as oil and yields ease. Spot gold rose 1.50% to about US$4,194.50 on Friday, a one-week high, and silver 2.77% to US$60.70 after President Trump said there would be no attack on Iran before the 3 November midterms, which took the edge off oil, and the 10-year yield held near 5.24%. A weak University of Michigan sentiment reading of 46.3, with one-year inflation expectations up to 4.7%, kept about 84% odds of a Fed hike by December.
- 2
Copper tightens as Chile strikes spread and a quake hits Panama. COMEX copper rose 2.17% to US$6.71/lb and LME three-month copper 1.1% to US$14,570 in the official session as Centinela strikers began a hunger strike, Escondida supervisors moved closer to a strike from 13 October and a magnitude 7.7 earthquake struck Panama. The Yangshan import premium ended the week at US$135/t, a four-year high, and LME stocks fell to a six-week low.
- 3
Stocks end the week higher, but uranium names slump. The Dow rose 0.83%, the S&P 500 0.59% to 7,811.54 and the S&P/TSX 1.48%. The S&P/ASX 200 gained 0.64% to 8,716.6, up 0.4% on the week and back to flat for 2026, but ASX uranium stocks fell 6-10% with no company news, Boss down 9.9% and Peninsula 10.8%, and the Small Ordinaries lost 1.3% over the week.
Explorer market pulse
Neutral
Equities, gold and copper rose into the weekend as oil and yields eased, but the uranium sell-off and a deadly Saturday strike on Riyadh airport leave risk appetite fragile for Monday.
Macro drivers
US Fed funds
3.75-4.00%
Next decision 28 Oct; about 19% priced for an October hike and about 84% for a hike by December
US 10-year yield
5.24%
Little changed on Friday and about 5 basis points lower on the week
US consumer sentiment
46.3
Preliminary October Michigan reading, below forecasts; one-year inflation expectations 4.7%
Brent crude
US$104.72
Up 0.4% on Friday and 2.4% on the week; Riyadh airport struck on Saturday
RBA cash rate
4.60%
Next decision 3 Nov; minutes on 13 Oct; about 30% priced for a November hike
NBK base rate
16.25%
Next decision 23 Oct; 85% of surveyed experts expect a cut; tenge 453.93
The week in one chart Weekly change, best to worst
Platinum+3.06%Silver+2.77%COMEX copper+2.17%Palladium+1.98%Henry Hub gas+1.6%Gold+1.50%S&P/TSX Composite+1.48%LME zinc (3-month)≈ +1.2%FTSE 250+1.13%FTSE 100+1.06%LME copper (3-month)≈ +1.1%FTSE AIM All-Share≈ +0.9%Dow Jones+0.83%LME nickel (3-month)≈ +0.8%TSX Venture≈ +0.7%Nasdaq Composite+0.64%S&P/ASX 200+0.64%S&P 500+0.59%Russell 2000+0.46%Brent crude+0.42%TTF gas+0.40%WTI crude+0.39%Australian dollar+0.37%ASX Small Ordinaries+0.36%Uranium futures+0.17%US Dollar Index+0.07%LME aluminium (3-month)≈ 0.0%LME tin (3-month)≈ 0.0%Euro vs US$-0.13%Iron ore≈ -0.3%Newcastle coal≈ -0.4%Tenge vs US$≈ -1.1%
Equity indices Friday closes
| Index | Close | Day | Week | 52 weeks |
|---|---|---|---|---|
| Australia | ||||
| S&P/ASX 200 | 8,716.6 | +0.64% | ≈ +0.4% | ≈ -2.7% |
| ASX Small Ordinaries | 3,281.9 | +0.36% | ≈ -1.3% | n/a |
| United Kingdom | ||||
| FTSE 100 | 10,552.05 | +1.06% | ≈ +0.9% | ≈ +11.9% |
| FTSE 250 | 24,213.78 | +1.13% | ≈ +0.1% | n/a |
| FTSE AIM All-Share | 777.53 | +0.89% | ≈ -0.8% | n/a |
| United States | ||||
| Dow Jones Industrials | 51,654.95 | +0.83% | ≈ +0.9% | ≈ +13.6% |
| S&P 500 | 7,811.54 | +0.59% | ≈ +1.2% | ≈ +19.2% |
| Nasdaq Composite | 27,366.17 | +0.64% | ≈ +0.6% | n/a |
| Russell 2000 | 2,806.98 | +0.46% | ≈ -0.9% | n/a |
| Canada | ||||
| S&P/TSX Composite | 35,664.62 | +1.48% | ≈ +0.5% | ≈ +19.5% |
| S&P/TSX Venture | 874.03 | +0.72% | ≈ -0.7% | n/a |
Currencies Latest rates
| Pair | Last | Day | Week | 52 weeks |
|---|---|---|---|---|
| AUD/USDTrading Economics; first weekly gain in five weeks | 0.6983 | +0.37% | ≈ +0.4% | ≈ +7.9% |
| EUR/USDTrading Economics late quote | 1.1196 | -0.13% | ≈ -0.5% | n/a |
| USD/KZTNational Bank official rate for 10-12 Oct; week change against the 5 Oct KASE average of 454.98 | 453.93 | ≈ +1.1% | ≈ -0.2% | 2026 range 439-512 |
| USD/CNYPBOC reference rate for 9 Oct | 6.7330 | ≈ -0.1% | n/a | n/a |
| US Dollar IndexTrading Economics; Kitco had about 102.10 late in New York | 102.21 | +0.07% | ≈ +0.3% | n/a |
| AUD/KZTNational Bank official cross rate for 10-12 Oct | 316.57 | ≈ +1.6% | n/a | n/a |
Gold, copper and uranium
Au
Gold
Gold price
GlobalSpot gold rose 1.50% to about US$4,194.50/oz late on Friday, a one-week high after testing US$4,200, and ended the week about 1.3% higher. Oil eased after President Trump said there would be no attack on Iran before the midterms and long-end yields came off two-decade highs, which outweighed a weak Michigan sentiment reading with higher inflation expectations and St Louis Fed President Musalem saying rates need to rise further. Silver rose 2.77% to US$60.70.
Why it matters Gold is holding above US$4,000 even with a December Fed hike about 84% priced, which keeps producer margins wide and funding open for gold juniors.
Kitco PM reportKitco: sentiment dataBusiness Recorder (Reuters)
Forecasters lean bullish
GlobalIn the Kitco weekly survey 7 of 14 Wall Street analysts were bullish and 2 bearish, and 45% of retail voters were bullish. At the LBMA conference in Sorrento delegates expected gold near US$5,000 within a year, and Bundesbank President Nagel said gold is now nearly a quarter of central bank reserves, mostly because of price gains rather than new buying.
Why it matters Professional forecasts point higher, but recent support has come from price momentum more than fresh central bank demand.
ASX gold names lead Friday
AustraliaGenesis Minerals rose 3.9% and Vault Minerals 3.6% on Friday. Among explorers, Astral Resources roughly doubled its Spargoville resource to 281,000 oz, mainly on a higher A$4,500/oz pit-shell price, and Lunnon Metals reported 16 m at 9.14 g/t gold at Lady Herial near St Ives.
Why it matters Higher Australian dollar gold prices are lifting resource estimates, which supports valuations of advanced Western Australian gold juniors.
Market Index: evening wrap, 9 OctDiscovery Alert: AstralDiscovery Alert: Lunnon
Cu
Copper
Copper ends the week higher
GlobalLME three-month copper settled at US$14,570 in the official session on Friday, up about 1.1% on the day and 1.7% on the week, with cash at US$14,689 and LME stocks down to 233,025 t, a six-week low. COMEX copper rose 2.17% to US$6.711/lb while COMEX stocks sat at a record 711,609 t, and the Yangshan import premium reached US$135/t.
Why it matters Tight physical markets and a cash premium favour copper developers looking to fund projects.
Westmetall: LME official pricesKitco (Reuters): copperInvesting.com: COMEX copper
Chile strikes escalate
LSE:ANTO and BHP, ChileThree Centinela strikers began a hunger strike on Friday. The 709 strikers are about 22% of the workforce; Antofagasta has offered a 2% real pay rise and a bonus of almost US$23,000 and keeps its guidance. At Escondida about 1,020 supervisors are in mandatory mediation with BHP, and a strike could begin on 13 October if talks fail.
Why it matters Labour action at two large Chilean mines at once adds to the supply risk already in the price.
Panama earthquake spares Cobre Panama
TSX:FM, PanamaA magnitude 7.7 earthquake struck Herrera province on 9 October, followed by a 6.6 aftershock. No deaths were immediately reported, the canal kept operating and First Quantum said the production facilities and infrastructure at Cobre Panama remained stable.
Why it matters The mine is not producing, so supply is unchanged, and the focus stays on the talks with the government over its future.
U
Uranium
ASX uranium stocks slump again
AustraliaUranium stocks fell 6-10% on Friday with no company news: Boss Energy fell 9.9%, Peninsula 10.8%, Bannerman 7.3%, Deep Yellow 7.1% and Paladin 3.6% to its lowest since December 2025. Market Index pointed to momentum and risk appetite rather than any catalyst.
Why it matters Equity selling is running well ahead of the commodity price, which makes new equity expensive for ASX uranium developers.
Prices steady, term at a record
GlobalUranium futures rose 0.17% to US$90.00/lb, and one newsletter put spot at US$89.80 and the long-term price at a record US$97.00. The Sprott Physical Uranium Trust made no purchases, holds 81.70 million lb and trades at about an 11.6% discount to net asset value. Cameco rose 1.08% to US$88.06.
Why it matters With the trust at a discount it cannot raise money to buy, so utility term contracting remains the main support for prices.
Trading EconomicsUranium SpeculatorSprottstockanalysis.com: Cameco
Kazatomprom vote splits on China and Russia
AIX/LSE:KAP, KazakhstanShareholders approved the spot and term uranium sales contract with China's SNURDC with 88.63% of votes, but the U3O8 supply contract with the Rosatom-linked Uranium One failed, with 5.39% for, 6.27% against and 88.34% withheld. No volumes or values were disclosed. The GDRs fell 3.24% to US$62.80 in London on the day and recovered 1.75% to US$63.90 on Friday.
Why it matters More Kazakh supply is committed to China while the Russian-linked contract stalls, which keeps Western utilities focused on other sources.
Small-cap gauges Day, week and 52 weeks
S&P/TSX Venture9 Oct
874.03
Day ≈ +0.7%Week ≈ -0.7%52W n/a
Up 6.27 points on Friday but lower for the week; Canadian markets are closed on Monday
ASX Small Ordinaries9 Oct
3,281.9
Day +0.36%Week ≈ -1.3%52W n/a
Lagged the ASX 200 for the week as uranium and lithium names sold off
FTSE AIM All-Share9 Oct
777.53
Day ≈ +0.9%Week ≈ -0.8%52W n/a
Rose with London miners on Friday but ended the week lower
Russell 20009 Oct
2,806.98
Day +0.46%Week ≈ -0.9%52W n/a
Small caps lagged large caps over the week
Resources IPO pipeline Australia, Canada, UK, US and Kazakhstan
35
ASX listings in 2026 to 31 August
3
ASX resources listings scheduled for October, down from 5 in September
C$1.8bn
Raised by Canadian IPOs in 2026, the busiest year since 2021
| Market | Company | Focus | Raise | Price | Listing | Status | Source |
|---|---|---|---|---|---|---|---|
| Australia | GlencoreASX:GLC | Diversified miner and trader (secondary listing of CDIs)CDIs start trading at 11am AEDT; large cap; may draw index and super fund buying | No new shares | n/a | Wed 14 Oct | Confirmed | Glencore RNS |
| Australia | Jacaranda Natural ResourcesASX:JRL | Gold-copper, White Cockatoo (Qld); also holds Botswana projectsMining.com.au says about A$8m with the offer closing 9 Oct; the ASX page shows A$10m and a 2 Oct close; not underwritten; Botswana licence transfers still need approval | A$8-10m | A$0.20 | Thu 22 Oct | Offer closed | Mining.com.au |
| Australia | Wiluna Mining CorporationASX:WMC | Gold, Western AustraliaPriced at the bottom of the 65-85c range; no result of the offer released by 11 Oct; larger than the small-cap band | A$180m | A$0.65 | Mon 26 Oct | Offer closed 9 Oct (scheduled) | ASX |
| Australia | Aventine ResourcesASX:ARE | Gold-copper, Paterson and East Pilbara, WAOnMarket shows a pay-by date of 16 Oct; not yet on the ASX float page | A$15m | A$0.20 | TBC | Offer open | OnMarket |
| Australia | Super MineralsASX:S88 | Gold, south-east NSW (Yambulla)September offer close and listing dates slipped | A$5-7m | A$0.20 | TBA | Delayed | ASX |
| Australia | Matrix Critical MineralsASX:MTX | Rare earths, Narraburra NSW (Godolphin spin-out)Offer closes 30 Oct | A$12m | A$0.20 | Mon 23 Nov | Scheduled | ASX |
| Australia | Europa MetalsASX:EUZ | Mineral exploration (JSE listed)Moving its main listing from the JSE; still completing the Antimony Ventures takeover | A$5m | A$0.20 | TBA | Scheduled | ASX |
| Australia | M Battery MaterialsASX:MBM | Graphite and vanadium, QueenslandOffer closes 17 Nov; not underwritten | A$25m | A$0.50 | Thu 3 Dec | Scheduled | ASX |
| Canada | Kay CopperTSXV | Copper, Arizona (Kodiak Copper and Teck vehicle)Subscription receipts financing closed | C$5.37m | n/a | By Oct (target) | Listing application filed | Nasdaq / Kodiak |
| Canada | Sun Valley MineralsTSXV | Gold, Uruguay (Kinross holds 14.9%)Listing applied for, not yet approved | About C$10.3m already raised | n/a | TBC | Preliminary prospectus | Webull / Access |
| United Kingdom | Meantime ResourcesAIM | Investing company targeting gold and base metal acquisitionsAbout £15m market cap on admission; Berenberg is nominated adviser; holders include Capital Union Bank, Argentem Creek and Schroders | £15.0m | 1,000p | Tue 13 Oct | Admission 13 Oct, 8am | TradingView (RNS) |
| United Kingdom | Axies VenturesAIM | Copper and gold, Cyprus and OntarioNominated adviser Allenby | TBC | TBC | Mid Oct (expected) | Schedule One filed 30 Sep | Stockopedia |
| United States | Barrick North AmericaNYSE / TSX | Gold (minority carve-out)Chief executive says it may slide into January; large cap | TBC | TBC | Year end or January | In preparation | MINING.COM |
| United States | Gunnison CopperNYSE American:GUNN | Copper, Arizona (already listed as TSX:GCU)Depositary receipts of 35 shares each; subject to SEC effectiveness | TBC | n/a | Late Oct (expected) | Pre-cleared | Investing News |
| United States | Kaz ResourcesNasdaq:KAZR | Tungsten, KazakhstanCombination with Cove Kaz now expected to close by year end or early 2027 | TBC | TBC | Year end 2026 or early 2027 | Merger pending | StockTitan |
| United States | WestinghouseUS (TBC) | Nuclear fuel and reactors (Cameco owns 49%)Bloomberg reports a possible IPO valuing it above US$50bn, with a filing as soon as October; large cap | TBC | TBC | TBC | Reported | Mining.com.au |
| Kazakhstan | Kazakhstan Temir Zholy (KTZ)Local exchange + LSE + HKEX | Railways (state-owned)Triple listing, pushed back from 2026 | TBC | TBC | Q1 2027 | In preparation | Interfax |
| Kazakhstan | QazaqGazKASE / AIX (expected) | Gas (state-owned)Tied to gas price reform | TBC | TBC | 2026-2027 | Planned | Caspian Post |
Recently listed resources companies
- Normandy Minerals ASX:NMD October 2026 A$12m at A$0.20; closed its first day at A$0.29, up 45%
- Parbo Resources ASX:PRB September 2026 A$5m underwritten IPO; Murchison gold and copper
- Axiant Resources ASX:AXR September 2026 A$8m at A$0.20; Core Lithium gold spin-out
- Cadillac Mines TSX:CADY August 2026 About C$500m at C$6.90, including a secondary sale
- Amapá Minerals TSX:AMAP July 2026 Brazil gold restart; fell 5.3% on debut
- Phoenix Metals TSX:PCA July 2026 C$1.25 IPO, 34m shares
- GoldInxs Mining TSXV:INXS July 2026 C$1.54m at C$0.10
- Rare Earths Americas NYSE American May 2026 US$63.3m at US$19, top of range
- Jaguar Uranium NYSE American:JAGU Feb 2026 US$25m at US$4.00
- Halo Minerals AIM Mar 2026 £4m raise, about £20m market cap
- AK Altynalmas AIX 2026 First direct listing on AIX
Small-cap announcements Resources companies up to about US$500m market cap
- 10 OctTSXVSilver X Mining TSXV:AGX Development
Processed 54,681 t at Nueva Recuperada in Peru in the September quarter, up 63% on a year earlier, for 322,822 oz of silver equivalent.
Mining.com.au - 9 OctTSXVScottie Resources TSXV:SCOT Placement
Closed C$21.38m from a brokered offering and a first non-brokered tranche at C$2.90 a share (C$3.10 flow-through), with about C$2.6m more due around 14 October, for studies and permitting at the Scottie gold mine in British Columbia.
Junior Mining Network - 9 OctTSXVGetty Copper TSXV:GTC Placement
Closed C$15.02m of flow-through financing for exploration at its 82%-owned Getty copper project in the Highland Valley, British Columbia.
Mining.com.au - 9 OctTSXVBarksdale Resources TSXV:BRO Placement
Closed a first tranche of C$13.2m at C$0.18 a unit, with up to C$14m more due in mid-October, to fund 16,000 m of core drilling at the Sunnyside copper project in Arizona.
Mining.com.au - 9 OctTSXVRock Tech Lithium TSXV:RCK Placement
Closed an upsized C$6.0m placement at C$0.65 a unit; a strategic investor took C$3.25m and is expected to take a stake in the Guben lithium converter in Germany.
Junior Mining Network - 9 OctTSXVElton Resources TSXV:DBAY Placement
Launched a non-brokered placement of up to C$5.0m in flow-through units at C$0.22 for critical mineral exploration at Darnley Bay, Northwest Territories.
Junior Mining Network - 9 OctTSXVBlende Silver TSXV:BAG Placement
Closed an oversubscribed C$2.67m placement, with insiders taking C$629,500, for the Blende silver-zinc-lead project in Yukon.
Junior Mining Network - 9 OctTSXVTrans Canada Gold TSXV:TTG Placement
Closed a C$2.14m first tranche of a planned C$2.5m placement to fund about 4,000 m of drilling at Harrison Lake, British Columbia.
StockTitan - 9 OctTSXVNeoTerrex Minerals TSXV:NTX Deal
Agreed to earn 100% of the Reservoir copper-gold-silver-tungsten project in James Bay, Quebec, from a Fury Gold Mines unit for C$500,000 cash and C$3m of work by 2030; Fury keeps a 2% royalty.
Junior Mining Network - 9 OctASXMetals X ASX:MLX Deal
Made a preliminary non-binding cash approach for the rest of London-listed First Tin, in which it already holds shares; no price was disclosed and the deadline for a firm offer is 6 November.
TradingView (RNS) - 9 OctAIMFocus Xplore AIM:FOX Deal
Completed the purchase of five greenfield gold properties covering about 86 km² in Ontario and Newfoundland, backed by a £508,750 placing.
TradingView (RNS) - 9 OctASXCyprium Metals ASX:CYM Development
Heap leach commissioning at Nifty in Western Australia is on track, with grade control drilling within 5% of the resource model; first copper cathode is still due in the December quarter.
Discovery Alert - 9 OctASXAlbion Resources ASX:ALB Drilling
Started the first RC drilling since 2014 at German Well South on the Gidgee gold project in Western Australia; aircore assays are due in the next few weeks.
Discovery Alert - 9 OctASXSolara Minerals ASX:SLA Exploration
Rock chips at Myrnas Hill in the Pilbara returned up to 7.05 g/t gold from a vein that has not been drilled to the east; aircore drilling is planned.
Discovery Alert - 9 OctASXAstral Resources ASX:AAR Resource
The Spargoville resource roughly doubled to 281,000 oz at 1.0 g/t, mainly on a higher A$4,500/oz pit-shell price, lifting the group total to 2.21 Moz.
Discovery Alert - 9 OctASXLunnon Metals ASX:LM8 Drilling
Lady Herial near St Ives, WA, returned 16 m at 9.14 g/t gold from 44 m, supporting a possible cut-back; a scoping study is due in December.
Discovery Alert - 9 OctASXPioneer Minerals ASX:PMM Placement
A$1.8m at 18c, level with the 5 October close, with one free option for every two shares, to fund options over the San Francisco gold-copper-silver project in Argentina.
Discovery Alert - 9 OctASXTennant Minerals ASX:TMS Drilling
Started a four-hole diamond program at the Bluebird copper-gold project near Tennant Creek, NT, with a 60 m step-out first hole.
Discovery Alert - 9 OctAIMCobra Resources AIM:COBR Exploration
The Blue Rose copper corridor in South Australia now extends beyond 2.2 km with two new skarn systems; results so far are visual and handheld XRF, with assays pending.
Mining.com.au - 8 OctASXTorque Metals ASX:TOR Placement
A$25m from institutions at 19c, a 7.3% discount to the last close, for resource drilling at Ritz and regional targets south of Kalgoorlie.
Mining.com.au - 8 OctASXBallard Mining ASX:BM1 Placement
Entered a trading halt to raise about A$45m through a placement and a share purchase plan; the price was not disclosed and trading resumes by 12 October.
Kalkine - 8 OctASXVolt Resources ASX:VRC Placement
Entered a trading halt until 13 October ahead of a capital raising, with a market value of about A$29m.
TipRanks - 8 OctASXG50 Corp ASX:G50 Drilling
Started about 1,500 m of diamond drilling at White Caps, Nevada, stepping out about 100 m from an earlier 13.5 m at 7.67 g/t gold.
Discovery Alert - 8 OctTSXVKirkland Lake Discoveries TSXV:KLDC Placement
Closed an upsized C$20.17m brokered placement led by Eric Sprott, with flow-through shares at C$0.40 and C$0.483 and hard-dollar shares at C$0.35.
Junior Mining Network - 8 OctTSXVStardust Metal TSXV:ZIGY Placement
Closed about C$14.5m, including premium flow-through shares at C$2.725 and common shares at C$1.95, for its Cadillac Break and Kirkland Lake projects in Ontario.
Junior Mining Network - 8 OctTSXVSalazar Resources TSXV:SRL Placement
Closed a C$3.5m non-brokered placement of units at C$0.35, each with half a warrant at C$0.60, for exploration in Ecuador.
Junior Mining Network - 8 OctTSXVNorthWest Copper TSXV:NWST Drilling
Kwanika in British Columbia returned 108.7 m at 0.70% copper and 1.69 g/t gold (2.53% CuEq) from 352.8 m.
Junior Mining Network - 8 OctTSXVArras Minerals TSXV:ARK Drilling
Elemes in Kazakhstan returned 574 m at 0.40% CuEq at Berezski Central and 22.8 m at 5.37 g/t gold at the new K-Ozek epithermal target.
Junior Mining Network - 8 OctTSXVEpic Gold CSE:EPG Resource
Maiden inferred resource at McKinnon on the Hawkins project, Ontario, of 14.0 Mt at 0.98 g/t for about 440,000 oz.
Junior Mining Network - 8 OctTSXVNorthern Discovery Metals CSE:NOR Deal
Buying the Cibola copper-gold porphyry project in British Columbia from Orogen Royalties for C$130,000 and 700,000 shares, staged, plus a 2% NSR.
Junior Mining Network - 8 OctAIMCleanTech Lithium AIM:CTL Deal
Took options over 100% of two lithium brine properties on the Salar de Antofalla in Argentina for US$1.925m in staged payments.
RNS - 8 OctAIMMeantime Resources AIM (new) Listing
Published its AIM admission document, with dealings due from 13 October; it plans gold and base metal acquisitions.
TradingView (RNS) - 8 OctASXCorazon Mining ASX:CZN Drilling
First holes at the Chalice gold project near Higginsville, WA, returned 4 m at 9.93 g/t from 207 m and 27 m at 1.26 g/t from 180 m, about 100 m below the old pit.
Mining.com.au - 8 OctASXPC Gold ASX:PC2 Deal
Binding deal to buy the last third-party mining leases at Spring Hill, NT, for A$6.5m (A$4.5m cash and A$2m in shares), subject to ministerial approval.
Mining.com.au - 8 OctASXAlvo Minerals ASX:ALV Deal
Signed to earn up to 80% of the Bluebush heavy rare earth clay project in Brazil for US$2.6m in milestones; best hole 19.5 m at 1,324 ppm TREO.
Discovery Alert - 8 OctASXHot Chili ASX:HCH Drilling
La Verde porphyry in Chile returned 240 m at 0.43% copper equivalent from 36 m and 188 m at 0.56% from 24 m ahead of a first resource.
Discovery Alert - 8 OctASXBlack Cat Syndicate ASX:BC8 Drilling
The Lynx lode at Paulsens returned 9.86 m at 27.38 g/t gold from 107.44 m, including 0.60 m at 186.27 g/t.
Discovery Alert - 8 OctASXAuMEGA Metals ASX:AAM Exploration
Float rock samples at the Intersection project in Newfoundland returned up to 100.5 g/t gold; these are surface samples, not drill results.
Discovery Alert - 7 OctASXBOA Resources ASX:BOA Drilling
High-grade copper in 20 of the first 23 holes at Ricci Lee, WA, including 10 m at 3.60% and 22 m at 1.74%; the shares rose 22.6% to 19c.
Discovery Alert - 7 OctASXCorazon Mining ASX:CZN Deal
Exercised its option over 80% of the Feather Cap gold project in WA for A$600,000 upfront plus A$1m deferred; Wembley drilling returned 4 m at 10.6 g/t.
Mining.com.au - 7 OctASXQMines ASX:QML Drilling
Pontoon at Mt Chalmers returned 16.7 m at 1.04% copper and 1.16 g/t gold, about 20% above the resource model; 37 holes pending.
Discovery Alert - 7 OctASXOrdell Minerals ASX:ORD Drilling
McNabs East near Mt Magnet returned 32 m at 1.08 g/t and 23 m at 1.60 g/t gold; a maiden resource is targeted for the December quarter.
Discovery Alert - 7 OctTSXVTNR Gold TSXV:TNR Deal
Received a non-binding proposal from Altius Minerals, which holds about 12.7%, to buy the rest of the company, and agreed to exclusivity; no price disclosed.
Junior Mining Network - 7 OctTSXVQ2 Metals TSXV:QTWO Drilling
Cisco lithium in James Bay, Quebec, returned 134.5 m at 1.20% Li2O from surface, extending mineralisation 100 m north.
Mining.com.au - 7 OctTSXVSkyharbour Resources TSXV:SYH Drilling
Started 3,600 m of drilling at Getty East in the Athabasca Basin under its 70/30 joint venture with Denison.
Mining.com.au - 7 OctTSXVBurrell Resources CSE:BURY Deal
Option to earn the Rainmaker copper project near Yerington, Nevada, for US$900,000 in payments, US$1.5m in milestones and US$5m of exploration over about six years.
Junior Mining Network - 7 OctTSXVNord Precious Metals TSXV:NTH Placement
Closed a C$1.6m critical-mineral flow-through placement at C$0.18 for Castle East in the Cobalt-Gowganda camp, Ontario.
The Newswire - 7 OctAIMSavannah Resources AIM:SAV Development
Appointed Sedgman as FEED contractor for the Barroso lithium project in Portugal, with US$53m in cash and treasuries; a second offtake is said to be well advanced.
Mining.com.au - 7 OctUSTitan Mining NYSE American:TII Deal
Term sheet with the US Army to lease about 97 acres at Anniston Army Depot, Alabama, for a graphite processing plant, with a 50-year term.
Junior Mining Network - 7 OctASXKalamazoo Resources ASX:KZR Placement
A$10m at 18c, a 29% premium to the last close, from two strategic holders with no fees, for drilling and the pre-feasibility study at the Ashburton gold project in WA.
Discovery Alert - 7 OctASXAuric Mining ASX:AWJ Resource
Settled the Union Jack purchase for A$6.5m cash and A$3m in shares, lifting its gold resource 51% to 301,000 oz at 1.25 g/t, about 15 km from the Burbanks mill.
Discovery Alert - 6 OctTSXVOrosur Mining TSXV:OMI Placement
Closed an upsized C$16m placement of units at C$0.32 through Red Cloud, with UK co-brokers, to advance the Anza exploration project in Colombia.
Junior Mining Network - 6 OctTSXVGoldMining TSX:GOLD Drilling
Hole YAR-45 cut 399.9 m at 0.45 g/t gold equivalent from surface at Yarumalito, Colombia, including 74.7 m at 0.61 g/t; three holes pending.
Junior Mining Network - 6 OctTSXVProvenance Gold CSE:PAU Drilling
The first two core holes at Eldorado West, Oregon, intersected numerous mineralised and altered zones; assays are pending.
Junior Mining Network - 6 OctASXSunshine Metals ASX:SHN Drilling
A 66-hole program at the Sybil epithermal gold project in Queensland returned 4 m at 11.11 g/t and found a new shoot near the Mt Moss plant; follow-up drilling starts mid-October.
Discovery Alert - 6 OctASXGreat Boulder Resources ASX:GBR Drilling
Shallow gold at Enigma, Peak Hill, including 9 m at 4.17 g/t from 6 m; a resource upgrade from 481,000 oz is due by year end.
Discovery Alert - 6 OctASXLode Resources ASX:LDR Drilling
New Moores Lode discovery at the Montezuma silver-antimony project in Tasmania, with 1.0 m at 1,241 g/t silver equivalent.
Discovery Alert - 6 OctASXAstral Resources ASX:AAR Deal
Buying the nickel rights over its Mandilla gold ground from Estrella Resources for 20 million shares at a deemed 15c (A$3m).
Discovery Alert - 5 OctASXNormandy Minerals ASX:NMD Listing
Opened at 27c and closed its first day at 29c, 45% above the 20c price of its A$12m IPO; maiden drilling at Halleys East has started.
ShareTrader - 5 OctASXOD6 Metals ASX:OD6 Placement
A$6.92m at 9.5c, a 13.6% discount, through Petra Capital for maiden drilling at the Quinn fluorspar project in Nevada.
Discovery Alert - 5 OctASXGBM Resources ASX:GBM Drilling
18 m at 12.01 g/t gold at the 309 deposit and 37 m at 2.40 g/t at Lone Sister, Twin Hills, both outside the current resource.
Discovery Alert - 5 OctASXTivan ASX:TVN Deal
Non-binding plan for Sumitomo and ETFS Capital to invest up to A$25m each in the Molyhil tungsten project in the Northern Territory, with possible full offtake to Sumitomo.
Discovery Alert - 5 OctASXSomerset Minerals ASX:SMM Drilling
Copper over 1.6 km of strike at Talisker, Nunavut, including 30.5 m at 0.71% copper with 4.6 m at 3.38%.
Discovery Alert - 5 OctTSXVONGold Resources TSXV:ONAU Placement
C$5.35m of mostly flow-through units through Paradigm Capital; closing targeted for 27 October.
Junior Mining Network - 5 OctTSXVFitzroy Minerals TSXV:FTZ Drilling
30.5 m at 2.48% copper from surface at the Buen Retiro copper project in Chile.
Junior Mining Network - 5 OctTSXVGeiger Energy TSXV:BEEP Drilling
A second hole at Apollo on the Kiggavik trend, Nunavut, cut 45 m of shallow uranium mineralisation from 40 m depth.
Junior Mining Network - 5 OctTSXVSterling Metals TSXV:SAG Drilling
44.1 m at 1.02% copper equivalent within a 187 m near-surface interval at the Soo copper project, Ontario.
Junior Mining Network - 5 OctUSGunnison Copper TSX:GCU Listing
Pre-cleared for a NYSE American listing of depositary receipts under the ticker GUNN, expected in late October.
Investing News - No qualifying US small-cap resources announcements captured in this edition.
- No qualifying AIX or KASE small-cap announcements captured in this edition. See the Kazakhstan tab for the wider news.
Kazakhstan news Newest first, with links to the original
- 10 OctNews report
Metlen eyes metal recovery from Kazakh industrial waste
A delegation from Greek group Metlen Energy & Metals met Deputy Foreign Minister Zebeshev to discuss phased recovery of copper, zinc, nickel and cobalt from metallurgical waste, with Kazakh Invest support. No agreement, capacity or cost was disclosed, and Metlen has been invited to an investment roundtable in Shymkent on 22 October.
- 9 OctNews report
Exxon blocked a deal to settle the Kashagan fine, Bloomberg says
Bloomberg, citing unnamed sources, reports that ExxonMobil blocked a proposal for the Kashagan partners to settle the roughly US$5 billion (KZT 2.3 trillion) sulphur fine and persuaded TotalEnergies to oppose it. Exxon has told the government that new Kashagan expansion investment depends on resolving the dispute; NCOC still contests the fine.
- 9 OctOfficial data
Tenge slips to 453.93 per US dollar
The National Bank's official rate for 10-12 October is 453.93 tenge per US dollar, set from Friday's KASE session, and the AUD rate is 316.57. The dollar traded between 451.06 and 455.23 on about US$421 million of volume. Over the week the tenge was little changed against the 454.98 average on 5 October.
National Bank of Kazakhstan ↗ Kapital.kz (Russian) ↗ Interfax-Kazakhstan ↗
- 9 OctOfficial data
Reserves fall 5.4% in September as the gold value drops
Preliminary National Bank data put gross international reserves at US$66.41 billion at the end of September, down US$3.80 billion in the month. Monetary gold fell 7.8% to US$51.43 billion while foreign currency assets rose 3.9%; National Fund foreign currency assets slipped 0.8% to US$66.65 billion.
- 9 OctOfficial data
Current account returns to surplus on metal exports
National Bank data show a first-half current account surplus of US$2.4 billion, or 1.6% of GDP, the first in three years, against a US$3.6 billion deficit a year earlier. Goods exports rose 27.1% to US$48.5 billion, with copper cathode exports up 58%, copper concentrate up 42.9% and uranium up 15.1%.
- 9 OctNews report
Carlyle drops its bid for Lukoil foreign assets
Reuters reports that Carlyle is no longer pursuing the sanctioned foreign assets of Lukoil after no US licence was granted. The Kazakh assets were never part of the deal; Kazakhstan says it has a priority right to buy them, and Lukoil has signalled it intends to keep them.
- 9 OctNews report
KMG drilling at Karazhanbas expected to add 3 Mt of reserves
KazMunayGas says 30 new wells in the coastal zone of the Karazhanbas field are expected to add 3 Mt of recoverable reserves. Karazhanbasmunai produced 1.549 Mt of oil in the first nine months of 2026, and four horizontal wells are planned.
- 9 OctNews report
Energy Ministry and Gazprom discuss gas for the north
A joint coordination council in Bishkek covered gas transport to northern Kazakhstan and Astana, storage and gas as a motor fuel, and QazaqGaz signed a memorandum with Gazprom Kyrgyzstan.
- 9 OctNews report
Private developer plans the Masalskoe iron ore mine
Baza Construction LLP, which won the deposit at auction in January 2025, plans an open pit at Masalskoe in Akmola region, with reserves of 729.2 Mt at 15.81% iron and titanium and vanadium by-products. Mining is to rise to 5 Mt a year, and public hearings are due in early November.
- 9 OctNews report
Qarmet starts reprocessing old iron ore sludge
Qarmet has started the OKV-150 plant at Karazhal, which will reprocess up to 1.2 Mt a year of stored iron-bearing sludge into about 30,000 t a month of concentrate at about 52% iron. The cost was not disclosed.
- 9 OctNews report
Russian diesel imports nearly triple
Russian diesel shipments to Kazakhstan rose from 28,000 t in August to 77,000 t in September, according to Reuters data, while Russia has extended its ban on diesel exports to countries without supply agreements until 31 October.
- 8 OctAnnouncement
Kazatomprom holders back the China contract and block the Uranium One deal
At the extraordinary meeting, 88.63% of votes approved the spot and term uranium sales contract with China's SNURDC. The U3O8 supply contract with Uranium One Group failed, with 5.39% for, 6.27% against and 88.34% withheld. Zhandos Kairgeldi of Samruk-Kazyna joins the board. No volumes or values were disclosed.
- 8 OctOfficial data
Prime Minister backs the Balkhash copper smelter as geology funding rises
On a visit to Balkhash, Prime Minister Bektenov reviewed the KZT 750 billion Qazaq Smelter project, designed for 300,000 t of cathode copper and 10 t of gold a year, with construction from 2027 and launch in 2030. About US$500 million is to go to geology by 2030, and Tau-Ken Samruk reported more than 8 t of gold and 150,000 t of copper in newly confirmed reserves.
Prime Minister of Kazakhstan (Russian) ↗ Kursiv (Russian) ↗ Kapital.kz (Russian) ↗
- 8 OctNews report
Lindian unit plans a US$150m rare earth investment at Stepnogorsk
Silkway Metals, a unit of Lindian Resources, will invest about US$150 million to upgrade the existing rare earth plant at Stepnogorsk in Akmola region and add a new plant producing mixed rare earth carbonate, the regional administration said. Trend reports output of about 8,000 t a year of carbonate, with work over 2026-2028.
Interfax-Kazakhstan ↗ Trend ↗ Mining Technology: Carester plan ↗
- 8 OctAnnouncement
Arras drills 574 m at 0.40% CuEq at Elemes
Berezski Central returned 574 m at 0.40% copper equivalent and a new epithermal target at K-Ozek returned 22.8 m at 5.37 g/t gold, from the 40,000 m program in north-east Kazakhstan.
- 8 OctNews report
CPC pipeline back after planned maintenance
The Caspian Pipeline Consortium returned the Tengiz-Novorossiysk line to service after a scheduled 12-hour shutdown on 6 October for defect repairs and work on valves and control systems. Further short planned stops are being agreed with shippers.
- 8 OctNews report
Kazakh bonds placed on J.P. Morgan index watch
J.P. Morgan has put Kazakhstan on positive index watch for possible inclusion of its government bonds in the GBI-EM index, the Finance Ministry said, which could draw more foreign money into tenge bonds.
- 8 OctOfficial data
Tenge eases to 448.94 per US dollar
The National Bank's official rate for 9 October is 448.94 tenge per US dollar, set from Thursday's KASE session on about US$424 million of volume, and the AUD rate is 311.70. In an Association of Financiers survey, 85% of respondents expect a base rate cut on 23 October, and the median forecast is about 456.5 tenge per dollar by early November.
National Bank of Kazakhstan ↗ Kapital.kz (Russian) ↗ Kapital.kz: survey (Russian) ↗ Interfax-Kazakhstan ↗
- 8 OctOfficial data
Tenge rallies to 447.14 per US dollar
The National Bank's official rate for 8 October is 447.14 tenge per US dollar, about 1.4% stronger than a day earlier, set from Wednesday's KASE fixing. The dollar traded between 446.10 and 450.41 on about US$469 million of volume, reversing much of its jump on 6 October. The official AUD rate is 311.08.
National Bank of Kazakhstan (Russian) ↗ KASE (Russian) ↗ Kapital.kz (Russian) ↗
- 7 OctNews report
Tokayev receives Lukoil founder Alekperov
The presidency said they discussed Lukoil's current work, plans and joint oil and gas projects. National Business suggests Lukoil's 5% of Tengizchevroil and the Kalamkas-Khazar offshore project may have been discussed; neither is confirmed.
- 7 OctInterview
Explorer warns uranium reserves need replacing
Aurora Minerals Group founder Saids Sultanov said reserves at Kazatomprom subsidiaries fell 4.9% in 2025 and put the cost of exploring new areas to 2030 at KZT 75-85 billion. Uranium found by other explorers must go into projects in which Kazatomprom holds 75%.
- 7 OctAnnouncement
Central Asia Metals keeps Kounrad guidance; Cygnus approval still awaited
Kounrad produced 3,454 t of copper in the September quarter and 9,758 t in nine months, and 2026 guidance of 12,000-13,000 t is unchanged. Drilling at Yuzhnoe found copper over more than 1 km of strike, including 311 m at 0.22%, with a 3,600 m follow-up planned. Kazakh approval for the Cygnus scheme is still expected by 12 October, with an indicative effective date of 15 October.
- 7 OctAnnouncement
Steppe Cement declares a 2p interim dividend
The shares go ex-dividend on 15 October, with a record date of 16 October and payment on 30 October. The shares rose about 10.8% to 36p on the day.
- 7 OctNews report
Private developer plans a titanium-zirconium mine in Pavlodar region
Druzhba Mining, owned by the Astana-based TZ Group, plans a 10-year open pit at the Druzhba deposit mining up to 1.5 Mt of ore a year, with estimated reserves of about 1.0-1.2 Mt of TiO2 and 0.6-0.8 Mt of ZrO2. It will spend about KZT 1.9 billion of its own funds, and public hearings are due in early November.
- 7 OctNews report
Parliament ratifies the Russian oil supply protocol
The protocol renewing the 2010 agreement on supplies of Russian oil and products passed parliament. Forbes Kazakhstan estimates savings of about KZT 30 billion in 2026 from duty-free imports, and the Energy Minister said the Shymkent refinery expansion to 12 Mt a year should have a feasibility study by the end of 2026.
- 7 OctNews report
Oil producers study a second export route across the Caspian
A working group of eight Tengiz and Kashagan shareholders has commissioned a feasibility study, due in November, comparing a subsea pipeline with a larger tanker fleet from Aktau to Baku, each sized for up to 35 Mt a year. CPC carried 64.8 Mt of the 78.7 Mt of oil Kazakhstan exported in 2025.
- 7 OctNews report
Zhanaozen gas plant modules are on their way
Three vessels carrying process modules for KazMunayGas's 900 million m³ a year gas plant at Zhanaozen are heading to Kazakhstan and a fourth is preparing to leave China. Equipment fabrication is about 61% complete.
- 7 OctNews report
Industry ministry lists four priority plants for 2028
Four priority projects worth about KZT 3.7 trillion are due by 2028, covering steel, processing of sulphide gold concentrates, potash and ferroalloys. A further 120 projects worth more than KZT 6.4 trillion are under construction.
- 7 OctNews report
Mineral extraction tax lifts budget revenue
Economists told Inbusiness that receipts from the mineral extraction tax rose by about 60-65% under the new tax code, about 178% of plan, and with VAT drove most of the growth in revenue.
- 7 OctNews report
National Bank among the leading gold buyers
World Gold Council data show the National Bank bought about 36 t of gold in January to August, including 7 t in August, taking its holdings to 377 t.
- 6 OctAnnouncement
East Star starts drilling at Rulikha
Drilling began on 5 October at the Rulikha copper project, about 1,500 m in five holes. Partner Nova pays for the drilling and East Star is carried to production for a 25-35% interest. No assays have been reported yet.
- 6 OctNews report
Karachaganak gas plant faces new delays
A dispute between QazaqGaz, now running construction of the 4 bcm a year plant, and the Karachaganak partners has pushed start-up to 2030, with costs estimated at about US$5 billion and possibly up to US$8 billion if raw gas supply rises.
- 6 OctOfficial data
Tenge firms to 453.65 per US dollar
The National Bank's official rate for 7 October is 453.65 tenge per US dollar, set at 15:30 on Tuesday on KASE. The dollar traded between 449.40 and 457.50 on US$508 million of volume, and the session average of 452.74 was 2.62 tenge below Monday's.
National Bank of Kazakhstan ↗ Kapital.kz (Russian) ↗ Interfax-Kazakhstan ↗
- 6 OctNews report
Kazakhstan and Oman sign eight agreements
During the Sultan of Oman's state visit the two countries signed eight documents, including an investment protection agreement, a US$150 million joint fund of Samruk-Kazyna and the Oman Investment Authority, and a strategic exploration agreement between KazMunayGas and OQ Exploration & Production.
- 6 OctNews report
Solidcore to build an Astana headquarters with Omani funding
The Oman Investment Authority, which holds 31.7% of Solidcore, will fund 85% of a nine-storey headquarters of more than 18,000 m² in Astana, due in 2029. Solidcore's gold equivalent output rose 71% to 210,000 oz in the first half.
- 6 OctNews report
World Bank holds its 2026 growth forecast at 4.6%
The World Bank's October update for Europe and Central Asia keeps its forecast for Kazakhstan's GDP growth in 2026 at 4.6%.
- 6 OctNews report
Swiss-backed explorer plans gold drilling near Ust-Kamenogorsk
Kaz Altyn Minerals, owned by Switzerland's ARDI Group Invest and Kazakh investor Bolat Medikhanov, plans 2,000 m of drilling in 2027 and 1,000 m in 2028 at the 248 km² Kanayka exploration area, about 50 km south-west of Ust-Kamenogorsk.
- 6 OctOfficial data
Tenge slides to 454.98 per US dollar
The National Bank's official rate for 6 October is 454.98 tenge per US dollar, set from Monday's KASE fixing, when the dollar rose 6.62 tenge. The full session averaged 455.36 on US$645 million of volume. Halyk Finance expects seasonal demand to push the rate towards 490 by the end of the year.
National Bank of Kazakhstan ↗ Kapital.kz (Russian) ↗ Kursiv (Russian) ↗
- 5 OctNews report
Dunga oilfield dispute settled
The Energy Minister and Dunga Operating signed a settlement covering historical costs and a payment to Kazakhstan, still subject to approval by the foreign partners Oman Oil and PTTEP. It clears the way for a 2026-2039 development plan targeting 67.4 million barrels.
- 5 OctOfficial data
Government reviews new uranium exploration areas
Prime Minister Bektenov chaired a meeting on the nuclear industry focused on prospective new uranium areas under the strategy to 2050, at which Kazatomprom presented its exploration plans. Absentee voting on Kazatomprom's two major sales contracts closes at 18:00 Astana time on 6 October.
- 5 OctAnnouncement
AIX trading hits a record in September
Traded value on the Astana International Exchange reached a record US$562 million (KZT 250.2 billion) in September, about US$150 million above the previous high, led by Solidcore shares.
- 5 OctNews report
US report notes progress but flags tax risk
The US State Department's 2026 Investment Climate Statement credits Kazakhstan with about US$170 billion of foreign investment, much of it in minerals and petroleum, but flags 2026 tax code changes to royalties and deductions and regulatory predictability as concerns.
- 5 OctNews report
KazMunayGas plans digital twins at 12 fields
KMG aims to build AI-driven digital models of 12 fields producing more than 90% of its oil by the end of 2028, targeting about 2.8 Mt of extra oil and an economic effect of about KZT 326 billion.
- 5 OctNews report
Private miner contracts out the Karaboulak gold deposit
Qazabulaq Gold awarded a KZT 1.26 billion mining contract on 30 September for the Karaboulak gold deposit near Stepnogorsk in Akmola region, at about 350,000 t of ore a year.
- 5 OctOfficial data
Tenge weakens to 447.73 per US dollar
The National Bank's official rate for 5 October is 447.73 tenge per US dollar, set from Friday's KASE session, when the weighted average rose 6.10 tenge on US$457 million of volume. The base rate is 16.25% and the next decision is on 23 October.
National Bank of Kazakhstan (Russian) ↗ Kapital.kz (Russian) ↗ Forbes Kazakhstan (Russian) ↗
- 4 OctNews report
OPEC+ keeps November output unchanged
Kazakhstan and the six other OPEC+ members still making voluntary cuts agreed to hold November production at September levels, with the next meeting on 1 November. At KIOGE the Energy Ministry said a fourth refinery of up to 10 Mt a year is targeted for 2033.
- 3 OctNews report
Ratification of the Russian oil supply protocol begins
A bill to ratify the protocol reviving the 2010 oil supply agreement with Russia has passed first reading. The agreement would run to 1 January 2028 and then extend automatically for five-year periods.
- 2 OctAnnouncement
Ferro-Alloy raises £4.68m and clears its 2026 bond debt
A non-brokered placing of 137.6 million shares at 3.4p, with Vision Blue taking £1.25m to hold 26.24%, funds repayment of the second tranche of the company's Kazakh bond, clearing all US$13m of debt due in 2026.
- 2 OctOfficial data
Tenge holds near its 2026 high
The National Bank set the official rate at 441.91 tenge per US dollar, about 3.6% stronger over 30 days. The base rate is 16.25% after a 50 basis point cut in September, and the next decision is on 23 October.
- 1 OctNews report
QazaqGaz to explore three new areas
QazaqGaz plans about 6,150 km of 2D seismic and 126,000 geochemical sampling points across the central Pre-Caspian, Shu-Sarysu and Tenyz basins by the end of 2026, and is seeking partners for its 28 exploration areas.
- 1 OctAnnouncement
Condor upsizes its financing to C$70m
The convertible debenture financing rose to C$70 million, a C$25 million public offering plus a C$45 million private placement at 12% interest, convertible at C$6.00. First LNG from the Kazakh modular plant is targeted for the second quarter of 2027.
- 1 OctAnnouncement
Barys extends its entitlement offer to 14 October
The renounceable one-for-one offer at A$0.01, worth about A$2.6 million, now closes at 5pm AWST on 14 October, with allotment on 21 October, after delays in sending the prospectus to offshore holders.
- 1 OctAnnouncement
Nostrum noteholders back the restructuring
Holders of the US$517.5m senior notes passed the consent resolution, helped by an amended OFAC licence. Completion still depends on the US$304.6m sale of Zhaikmunai and POSITIV Invest to Altaris Holding.
- About 1 OctNews report
ERG to develop the Taunsor bauxite deposit
Aluminium of Kazakhstan, part of the privately held ERG, plans to mine the Taunsor bauxite deposit in Kostanay region from 2028.
- 30 SepNews report
KazMunayGas to take full control of its Kashagan holding
KMG will take full ownership of KMG Kashagan B.V., which holds 16.877% of the NCOC consortium, in a related-party deal worth about 14.8% of KMG's assets that the board approved on 24 September.
- 30 SepNews report
CPC loadings down about 4 Mt this year
The Caspian Pipeline Consortium loaded nearly 50 Mt in January to September, about 4 Mt less than a year earlier. Kazakhstan's oil output fell 8.3% to 61.7 Mt in January to August, and the plan is 96 Mt for 2026 and 100 Mt in 2028.
- 30 SepNews report
Collection of the Kashagan fine resumes
After a court rejected the operator's challenge on 28 September, the Justice Ministry resumed collecting the KZT 2.3 trillion (about US$5.2 billion) sulphur-storage fine. The NCOC consortium says arbitration bars enforcement.
- 30 SepNews report
Barys Resources granted a third licence
Licence EL4907 (Zhartasty, 110.8 km²) takes the company's 100%-owned North Balkhash tenure to 445.8 km², targeting epithermal gold and porphyry copper next to an operating gold mine.
- 29 SepAnnouncement
Condor raises C$65m, partly for Kazakh LNG
Condor is issuing up to C$65m of 12% convertible debentures (conversion at C$6.00). Proceeds include completing the first module of its Saryozek LNG plant; closing is expected in the week of 12 October.
- 29 SepNews report
Kazakhstan and Germany sign about US$2bn of deals
President Tokayev's visit to Berlin produced more than 30 commercial agreements worth about US$2 billion and a joint declaration that covers critical minerals.
- Late SepNews report
Aidarly copper deposit changes hands
Aidarly Project sold the subsoil rights to Aidarly Mining for KZT 11.75 billion (about US$26.6 million). The plan is a concentrator treating up to 75 Mt a year to produce 226,000 t of copper a year to 2042.
- Late SepNews report
Solidcore looks beyond Kazakhstan
After a strong first half, Solidcore plans to grow abroad, starting with the Khabiyat copper-gold project in Oman with Minerals Development Oman.
- 23 SepAnnouncement
Central Asia Metals and Cygnus hearing moved to 14 October
The second court hearing for the scheme was adjourned while Kazakh regulatory approval is awaited, now expected by 12 October. The scheme would then take effect on 15 October.
- 23 SepNews report
56 hydrocarbon blocks go to auction in December
The blocks will be auctioned on the e-Qazyna platform on 25 December, with applications closing on 18 November. 112 blocks are planned for auction by the end of the year.
- 21 SepAnnouncement
Kazatomprom wins the Kyzyltu exploration licence
A six-year licence over the Kyzyltu block in Kyzylorda region carries a preliminary estimate of about 10,000 tU. Russian sulphuric acid suppliers will meet 2026 contracts under a new export approval regime, and the company expects no material impact on 2026 guidance.
- 16 SepOfficial data
Metals output lower in January to August
Official statistics show refined copper output of 312,284 t, down 1.7% year on year, with zinc down 13.4%, aluminium down 10.6% and gold down 12.5%.
- 16 SepAnnouncement
Delixy signs an LOI for up to 48% of Sarybulak
The Singapore oil trader signed a non-binding letter of intent for a stake of up to 48% in the Sarybulak oil field in East Kazakhstan, held by Tarbagatay Munay, which has a cross-border gas pipeline to China.
- Mid SepNews report
Mining companies flock to the AIFC
249 companies listing exploration or mining among their activities registered in the Astana International Financial Centre between January and 15 September, 32% more than in all of 2025. In total 708 AIFC companies list mining-related activities.
- SepAnnouncement
East Star and Endeavour gold JV moves to systematic exploration
Endeavour can earn 51% by funding US$5 million over two years from 15 May 2026. The JV has applied for licences over more than 930 km² targeting intrusion-related gold in northern Kazakhstan and has built an in-country team.
- 9 SepNews report
Solidcore opens a US$1.2bn buyback tender
Eligible shareholders can tender some or all of their shares at US$11.66 each between 9 September and 12 October.
- 8 SepNews report
Drone incident briefly halts CPC loadings
Loadings near the CPC terminal outside Novorossiysk stopped briefly. Officials now expect 2026 oil output of about 96 million tonnes, down from 98 million, and the Baku-Tbilisi-Ceyhan alternative to take only up to 1.6 million tonnes this year.
- 3 SepInterview
Arras doubles its 2026 drilling plan
President Darren Klinck said the company has four rigs running in 2026 and has doubled this year's plan to 40,000 metres at Elemes, taking 2024-2026 drilling to about 54,000 metres.
- 24 AugAnnouncement
Jiaxin reports first-half results
Jiaxin International published its interim results for the six months to 30 June 2026 for the Boguty tungsten mine.
- 18 AugAnnouncement
KazMunayGas reports first-half results
KMG published its 1H 2026 operational and financial results, quoting a share price of 34,800 tenge on 14 August.
- 17 AugAnnouncement
Nostrum agrees to sell its Kazakhstan operations
Nostrum Oil & Gas announced an agreement to sell its Kazakhstan operations, followed by a tender offer and consent solicitation update on 4 September.
- 5 AugNews report
Central Asia Metals updates Kounrad
Kounrad's Indicated Resource stands at 595.1 Mt at 0.07% copper (407.9 kt), supporting 74,459 t of cathode from 2026 to licence expiry in 2034. 2026 guidance of 12,000-13,000 t is unchanged.
- 30 JulNews report
Balkhash copper smelter approved
The government approved an investment agreement with the private company Qazaq Smelter for a US$1.6bn smelter producing 300,000 t of cathode copper a year, lifting national copper output by about half to more than 800,000 t.
- 29 JulAnnouncement
Barys quarterly covers two Kazakh gold licences
The June quarter report covers the Dalnee and Karakul gold projects in the North Balkhash region.
- 27 JulNews report
CPC exports resume after a week-long halt
Loadings restarted at the Black Sea terminal after a suspension that followed attacks on tankers. Kazakhstan's oil and condensate output had fallen to about one million barrels a day.
Kazakhstan watchlist Listed companies with Kazakh projects · updated 11 October 2026
21 of 21 companies · sorted by market cap · prices are the latest verified closes
| Stage | KZ commodities | Price | ||
|---|---|---|---|---|
| Barys ResourcesASX: BRYNorth Balkhash gold licences, 445.8 km² | Explorer | A$0.009ASX last, 7 Oct · source | A$2.4mUS$1.7mA$2.38m | |
| Jupiter EnergyASX: JPRThree oilfields, Mangistau Basin | Producer | A$0.015ASX last, 2 Oct · source | A$19mUS$13mA$19.2m | |
| KazatompromLSE: KAP + AIXISR uranium mines across Kazakhstan | Producer | US$63.909 Oct, LSE close · source | A$23.7bnUS$16.6bn | |
| KazMunayGasKASE: KMGZ + AIXNational oil and gas company | Producer | KZT 35,750.00KASE, 9 Oct 17:31 · source | A$68.9bnUS$48.0bn≈KZT 21,809bn | |
| Solidcore ResourcesAIX: CORETwo producing gold mines and a development project | Producer | n/aTender US$11.66 to 12 Oct; Omani-funded HQ planned · source | n/an/a | |
| Jiaxin InternationalHKEX: 3858 + AIXBoguty tungsten mine, Almaty region | Producer | HK$44.749 Oct close · source | A$3.7bnUS$2.6bn≈HK$20.38bn | |
| Central Asia MetalsAIM: CAMLKounrad SX-EW copper; Kazakh exploration subsidiaries; Cygnus scheme pending | Producer | 153.80p9 Oct, close · source | A$497mUS$347m£262.09m | |
| Condor EnergiesTSX: CDRLNG facility under construction; copper and lithium brines | Developer | C$4.385 Oct close · source | A$380mUS$265m≈C$378m | |
| Arras MineralsTSXV: ARKElemes and Tay copper-gold projects, northeast Kazakhstan | Explorer | C$1.335 Oct close; drill results 8 Oct · source | A$192mUS$134m≈C$191m | |
| Steppe CementAIM: STCMCement and clinker plants | Producer | 36.00p7 Oct · source | A$150mUS$104m£78.8m | |
| Caspian SunriseAIM: CASPBNG contract area, Mangistau | Producer | 1.90p (suspended)Suspended 1 Jul · source | A$85mUS$59m£44.8m | |
| East Star ResourcesLSE: ESTCopper and gold projects; gold JV with Endeavour Mining | Explorer | 8.73p9 Oct close · source | A$94mUS$66m≈£49.8m | |
| Ferro-Alloy ResourcesLSE: FARBalasausqandiq; processing plant | Producer | 4.30p8 Oct close; 893.0m shares · source | A$73mUS$51m≈£38.4m | |
| Nostrum Oil & GasLSE: NOGChinarevskoye field; sale of Kazakh operations to Altaris pending | Producer | 0.80p9 Oct, 16:35 · source | A$2.5mUS$1.7m£1.32m | |
| Delixy HoldingsNewNasdaq: DLXYNon-binding LOI for up to 48% of the producing Sarybulak oil field, East Kazakhstan | Producer | US$2.179 Oct close · source | A$10mUS$7.1m | |
| GlencoreLSE: GLENKazzinc (majority owned) | Producer | 584.50p9 Oct close · source | A$129.9bnUS$90.7bn≈£68.55bn | |
| Endeavour MiningLSE: EDV + TSXUS$25m gold exploration JV with East Star | Explorer | 4,126p9 Oct · source | A$18.8bnUS$13.2bn£9.94bn | |
| Ivanhoe MinesNewTSX: IVNChu-Sarysu copper JV with Pallas Resources (20%, can earn up to 80%) | Explorer | C$12.255 Oct close · source | A$16.9bnUS$11.8bn≈C$16.80bn | |
| First Quantum MineralsNewTSX: FMExploration partnership with Pallas Resources; own Kazakh exploration company | Explorer | C$39.099 Oct close · source | A$32.8bnUS$22.9bn≈C$32.6bn | |
| CamecoNYSE: CCJ + TSX40% of the JV Inkai uranium joint venture | Producer | US$88.069 Oct close · source | A$54.9bnUS$38.3bn | |
| Lindian ResourcesNewASX: LINSilkway Metals: upgrade of the Stepnogorsk rare earth plant and a new carbonate plant (about US$150m) | Developer | A$0.6324 Sep (latest verified) · source | A$1.2bnUS$810mA$1.17bn |
No companies match these filters.
Recently left Kazakhstan
On the radar Private explorers and developers in Kazakhstan
17 of 17 private companies · unlisted, so no prices
Pallas Resources
ExplorerProject More than 20,000 km² of tenure, including the Chu-Sarysu sediment-hosted copper basin and the Sarybastau, Sulukol and Alakol porphyry projects
Partners Ivanhoe Mines joint venture (20% initial stake, can earn up to 80%); exploration partnership with First Quantum
Sep 2025 Ivanhoe reported a copper zone about 20 m thick outcropping at the Merke licence, and drilling started within 10 months of the joint venture
Kulan Resources
ExplorerProject Hard-rock lithium exploration across Kazakhstan
Partners Incubated as a portfolio company of Pallas Resources
Date not stated Launched to search for world-class hard-rock lithium discoveries
Altai Resources
ExplorerProject Nickel sulphide licences, including Quryiq (32 km²)
Partners Pallas Resources portfolio company; geophysicist Dan Core on the advisory board
Date not stated Granted two new nickel sulphide licences
FQM Exploration Kazakhstan
ExplorerProject Copper exploration in the Aqtogay district, Karaganda region
Partners Set up by First Quantum's Kazakh arm and the British investment firm Skyfall
Date not stated Exploration cleared to proceed after the regional prosecutor addressed local permitting delays
Aidarly Mining
DeveloperProject Aidarly copper deposit, Abai region; planned concentrator of up to 75 Mt a year in three phases producing 226,000 t of copper a year to 2042, costed at about US$1.22bn
Partners Privately owned
Late Sep 2026 Bought the subsoil rights from Aidarly Project for KZT 11.75 billion (about US$26.6 million); construction began in July 2026
Qazaq Smelter
DeveloperProject US$1.6bn (about KZT 750 billion) copper smelter at Balkhash: 300,000 t of cathode and 10 t of gold a year; construction from 2027, launch in 2030
Partners Kursiv reports it is wholly owned by QAC Resources Ltd of the Singapore-based Dynastor Group and part of the Kazakhmys structure
8 Oct 2026 Prime Minister Bektenov reviewed the project in Balkhash and told officials to support timely commissioning
Prime Minister of Kazakhstan (Russian) ↗ Kursiv (Russian) ↗ Interfax ↗
Tarbagatay MunayNew
DeveloperProject Sarybulak oil field, East Kazakhstan: about 100 Mt of approved oil in place, heavy oil production since early 2026 and a gas pipeline to China
Partners Non-binding LOI with Nasdaq-listed Delixy Holdings for up to 48%
16 Sep 2026 Letter of intent signed with Delixy
Cove Kaz Capital GroupNew
DeveloperProject 70% of Severniy Katpar LLP, owner of the Northern Katpar tungsten project, targeting about 12,000 t of APT a year
Partners DRA, ERM and Knight Piesold on the definitive feasibility study
3 Aug 2026 Launched a definitive feasibility study running from July 2026 to the end of 2027
GLY MineralsNew
ExplorerProject Exploration and mining services company registered in the AIFC
Partners Owned by units of the Chinese group CNMC
30 Jun 2026 Registered in the Astana International Financial Centre
Tarutinskoye LLPNew
DeveloperProject East Tarutinskoye copper deposit, which extends across the Russian border; about 0.5 Mt of ore a year
Partners Linked to KM Kazakh Mining Co.
3 Sep 2026 Mining planned for 2028-2032
Aluminium of Kazakhstan (ERG)New
DeveloperProject Taunsor bauxite deposit, Kostanay region
Partners Part of the privately held Eurasian Resources Group
About 1 Oct 2026 Plans to start mining Taunsor from 2028
Qazabulaq GoldNew
DeveloperProject Karaboulak gold deposit near Stepnogorsk, about 350,000 t of ore a year
Partners Privately owned
5 Oct 2026 Awarded a KZT 1.26 billion mining contract for Karaboulak on 30 September
Dostyq MineralsNew
ExplorerProject Araltobe gold exploration licence 1645-EL (6.88 km²), Karaganda region
Partners Owned through the AIFC-registered Kazakhstan Tianshan Mining Co., with Chinese ownership
26 Sep 2026 Hiring a field team, with work planned from the first quarter of 2027
Central Asia Kaisheng Minerals & EnergyNew
ExplorerProject 47.52 km² gold exploration licence near Zholymbet, Akmola region
Partners Registered in the AIFC in November 2025 with Chinese owners
18 Sep 2026 Plans 165-170 holes (about 10,000 m) from the third quarter of 2026 to 2028 on a licence granted in May 2026
Kaz Altyn MineralsNew
ExplorerProject Kanayka-1 gold exploration area (248 km²), East Kazakhstan and Abai regions, about 50 km south-west of Ust-Kamenogorsk
Partners Owned by ARDI Group Invest (Switzerland) and Bolat Medikhanov
6 Oct 2026 Plans 2,000 m of drilling in 2027 and 1,000 m in 2028, with exploration due to finish in 2028
Druzhba MiningNew
DeveloperProject Druzhba titanium-zirconium deposit: a 10-year open pit mining up to 1.5 Mt of ore a year, with estimated reserves of about 1.0-1.2 Mt of TiO2 and 0.6-0.8 Mt of ZrO2
Partners Privately owned through TZ Group Ltd
7 Oct 2026 Plans about KZT 1.9 billion of its own funds for the mine, with public hearings due in early November
Baza Construction LLPNew
DeveloperProject Masalskoe iron ore deposit, Akmola region: 729.2 Mt at 15.81% iron (C1+C2, 2013) with titanium and vanadium by-products
Partners None disclosed; won the deposit at auction in January 2025
9 Oct 2026 Plans an open pit rising to 5 Mt of ore a year and a first-stage plant of about 0.5 Mt a year, with public hearings due in early November
No private companies match these filters.
Calendar Listings, decisions and results ahead
- Mon 12 OctSolidcore buyback tender closes; EU ministers expected to adopt the 22nd Russia sanctions package; Ballard Mining resumes trading; Kazakh approval for Central Asia Metals-Cygnus still awaited; World Petroleum Congress energy meeting in Riyadh to 15 Oct; Canadian markets closed
- Tue 13 OctMeantime Resources joins AIM; RBA minutes; Escondida supervisors could strike if mediation fails; Volt Resources resumes trading at the latest
- Wed 14 OctGlencore starts trading on the ASX; US CPI; Central Asia Metals-Cygnus court hearing; Barys entitlement offer closes; Evolution Mining quarterly
- Thu 15 OctIndicative effective date of the Central Asia Metals-Cygnus scheme; Steppe Cement goes ex-dividend; US PPI and retail sales; EIA gas storage
- Fri 16 OctAventine Resources IPO pay-by date
- Mid OctAxies Ventures expected on AIM; IEA Governing Board meets
- Tue 20 OctBHP September-quarter operational review
- Thu 22 OctJacaranda Natural Resources lists on the ASX; Newmont third-quarter results after the US close
- Fri 23 OctNational Bank of Kazakhstan base rate decision; most surveyed experts expect a cut
- Mon 26 OctWiluna Mining lists on the ASX
- Tue 27 OctFreeport-McMoRan third-quarter results
- Late OctGunnison Copper expected on NYSE American
- 27-29 OctMines and Money at IMARC, Sydney
- Wed 28 OctFed decision; Bank of Canada decision; First Quantum third-quarter results
- Thu 29 OctEuropean Central Bank decision
- Fri 30 OctCameco third-quarter results; Matrix Critical Minerals offer closes
- Sat 31 OctASX September-quarter activity reports due
- Sun 1 NovOPEC+ meeting
- Early NovKazatomprom third-quarter operations and trading update (date not yet set)
- Tue 3 NovRBA decision; US midterm elections
- Wed 4 NovLundin Gold third-quarter results
- Thu 5 NovBank of England decision
- Fri 6 NovUS October jobs report; deadline for Metals X to make a firm offer for First Tin