EMX Royalty Partner, Zijin Mining, Provides an Update on Expanded Copper and Gold Production in Serbia
EMX Royalty announces significant production increases at the Timok/Cukaru Peki Mine in Serbia by its royalty partner Zijin Mining. In H1 2024, the mine produced 90,008 tonnes of copper and 2,894 kilograms of gold, resulting in Q2 royalty revenues of $1,586,000 for EMX. Zijin is expanding the processing plant capacity from 12,000 to 15,000 tonnes per day, with a total annual copper production capacity reaching 450,000 tonnes across their Serbian operations. EMX holds various uncapped royalty interests, including a 0.3625% NSR royalty over the Brestovac permit area.
EMX Royalty annuncia un significativo aumento della produzione nella miniera Timok/Cukaru Peki in Serbia, grazie al suo partner in royalties Zijin Mining. Nel primo semestre del 2024, la miniera ha prodotto 90.008 tonnellate di rame e 2.894 chilogrammi di oro, generando nel secondo trimestre entrate da royalties pari a 1.586.000 dollari per EMX. Zijin sta ampliando la capacità dell'impianto di lavorazione da 12.000 a 15.000 tonnellate al giorno, con una capacità totale di produzione di rame annuale che raggiunge 450.000 tonnellate nelle loro operazioni serbe. EMX detiene vari interessi in royalties senza limite, inclusa una royalty NSR dello 0,3625% sull'area del permesso di Brestovac.
EMX Royalty anuncia un aumento significativo en la producción de la mina Timok/Cukaru Peki en Serbia, gracias a su socio en regalías Zijin Mining. En el primer semestre de 2024, la mina produjo 90,008 toneladas de cobre y 2,894 kilogramos de oro, lo que resultó en ingresos por regalías de $1,586,000 para EMX en el segundo trimestre. Zijin está expandiendo la capacidad de la planta de procesamiento de 12,000 a 15,000 toneladas por día, alcanzando una capacidad total de producción anual de cobre de 450,000 toneladas en sus operaciones serbias. EMX posee varios intereses en regalías sin tope, incluyendo una regalía NSR del 0.3625% sobre el área del permiso de Brestovac.
EMX Royalty는 세르비아의 Timok/Cukaru Peki 광산에서 로열티 파트너인 Zijin Mining의 도움으로 생산량이 크게 증가했다고 발표했습니다. 2024년 상반기 동안, 이 광산은 90,008톤의 구리와 2,894킬로그램의 금을 생산하여 EMX에게 2분기 로열티 수익으로 1,586,000달러를 가져왔습니다. Zijin은 처리 공장의 용량을 하루 12,000톤에서 15,000톤으로 확장하고 있으며, 세르비아 내에서 연간 총 450,000톤의 구리 생산 용량에 도달할 것입니다. EMX는 Brestovac 허가 구역에 대해 0.3625% NSR 로열티를 포함한 다양한 비한정 로열티 이권을 보유하고 있습니다.
EMX Royalty annonce des augmentations significatives de production à la mine Timok/Cukaru Peki en Serbie, grâce à son partenaire de redevance Zijin Mining. Au premier semestre de 2024, la mine a produit 90 008 tonnes de cuivre et 2 894 kilogrammes d'or, générant ainsi des revenus de redevance de 1 586 000 $ pour EMX au deuxième trimestre. Zijin élargit la capacité de l'usine de traitement de 12 000 à 15 000 tonnes par jour, atteignant une capacité totale de production annuelle de cuivre de 450 000 tonnes dans ses opérations en Serbie. EMX détient divers intérêts de redevance non plafonnés, y compris une redevance NSR de 0,3625 % sur la zone du permis de Brestovac.
EMX Royalty kündigt bedeutende Produktionssteigerungen in der Timok/Cukaru Peki Mine in Serbien durch ihren Lizenzpartner Zijin Mining an. Im ersten Halbjahr 2024 produzierte die Mine 90.008 Tonnen Kupfer und 2.894 Kilogramm Gold, was zu Lizenzvergütungen von 1.586.000 US-Dollar für EMX im zweiten Quartal führte. Zijin erweitert die Kapazität der Aufbereitungsanlage von 12.000 auf 15.000 Tonnen pro Tag, wobei die gesamte jährliche Kupferproduktionskapazität in ihren serbischen Betrieben 450.000 Tonnen erreicht. EMX hält verschiedene unbegrenzte Lizenzrechte, einschließlich einer NSR-Lizenz von 0,3625% über das Brestovac-Genehmigungsgebiet.
- Record Q2 royalty revenues of $1,586,000
- Significant H1 2024 production: 90,008 tonnes copper and 2,894 kg gold
- Processing plant capacity expansion from 12,000 to 15,000 tonnes per day
- Uncapped royalties that cannot be repurchased or reduced
- None.
Insights
Zijin Mining's H1 2024 production update from the Timok project reveals impressive operational growth, with 90,008 tonnes of copper and 2,894 kilograms of gold produced from Cukaru Peki Mine. The expansion of processing capacity from 12,000 to 15,000 tonnes per day demonstrates strong operational execution. This production increase has directly benefited EMX Royalty, evidenced by record Q2 royalty revenues of
The development of the Lower Zone porphyry deposit through block caving and the exploration of the new MG Zone suggests significant growth potential. With Zijin's total Serbian operations now capable of producing 450,000 tonnes of copper annually, EMX's uncapped royalty structure positions it well to benefit from both current production and future expansions. The combination of increased throughput, exploration upside and EMX's favorable royalty terms makes this a compelling value driver for EMX shareholders.
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2024) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the "Company" or "EMX") is pleased to announce that its royalty partner at Timok in Serbia, Zijin Mining Group Co., Ltd. ("Zijin"), released unaudited interim results that show markedly increased levels of copper and gold production at Timok in the first half of 2024. Zijin reported 90,008 tonnes of copper and 2,894 kilograms of gold produced from Timok's Cukaru Peki Mine in H1, 2024 (see Zijin Mining Group Co., Ltd. Interim Report 2024). This aligns with the record Q2 royalty revenues of
Zijin has previously announced that the throughput of its processing plant at Cukaru Peki is being expanded from 12,000 tonnes per day to 15,000 tonnes per day1. The expansion of capacity and production at Cukaru Peki is part of an ongoing effort by Zijin to de-bottleneck their operations in Serbia, and by doing so, will unlock additional potential in the greater district. In addition to the ongoing production from the Upper Zone at Cukaru Peki, Zijin is also working to develop the underlying Lower Zone porphyry copper-gold deposit. The Lower Zone at Cukaru Peki will be developed through block caving, and EMX believes that the Cukaru Peki Mine will become one of the more important block cave development projects in the world.
On page 6 of the interim report, Zijin also highlights high grade copper gold exploration potential at its "MG Zone" in the "southern part of the Cukaru Peki Copper and Gold Mine". We do not yet know whether Zijin's exploration efforts will be successful and become material to EMX. However, it is notable that a discussion of the newly described MG Zone appeared in the interim report.
EMX congratulates Zijin on its outstanding performance in the Bor and Timok districts in Serbia. EMX currently holds a
Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX". Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com
Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements
This news release may contain "forward looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended June 30, 2024 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC's EDGAR website at www.sec.gov.
Figure 1
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1 According to the Čukaru Peki Copper-Gold Mine Operations Page on the Zijinmining.com website.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227459
FAQ
What were Zijin Mining's production figures at Timok for H1 2024?
How much royalty revenue did EMX (EMX) receive in Q2 2024 from Timok?
What is the new processing capacity at Cukaru Peki mine?
What royalty percentage does EMX (EMX) hold over the Brestovac permit area?
