RTG Secures US$30M Glencore Financing for Mabilo DSO, Advances Drilling at Chanach
RTG Mining has locked in a binding finance and offtake agreement with Glencore to kickstart Stage 1 of its high-grade Mabilo Copper and Gold Project in the Philippines, while advancing exploration at its Chanach project in Kyrgyzstan and progressing redevelopment talks for Panguna in Bougainville.
- Binding finance and offtake deal with Glencore for Mabilo Stage 1 DSO
- RTG holds 40% interest in Mabilo via Mt. Labo with US$27M loan to be repaid from DSO proceeds
- 5,000m drilling program underway at high-potential Chanach Gold-Copper Project
- RTG named development partner for Panguna Copper-Gold Project redevelopment in Bougainville
- Successful A$19.5M placement boosts cash reserves to A$17.2 million
Strategic Financing Unlocks Mabilo Development
RTG Mining Inc. has reached a pivotal milestone in advancing its Mabilo Copper and Gold Project in the Philippines by securing a binding finance and offtake agreement with global commodities giant Glencore International AG. This partnership will fully fund the capital expenditure for Stage 1 of Mabilo’s Direct Shipping Operation (DSO), targeting the extraction of exceptionally high-grade copper ore averaging 21% copper content.
RTG holds a 40% stake in Mt. Labo Exploration and Development Corporation, the entity owning Mabilo, alongside a 2% net smelter royalty and an outstanding loan of approximately US$27 million. The company expects to repay this loan early from the proceeds generated by the DSO, which is set to produce around 25,200 tonnes of copper and an additional 52,900 ounces of gold from associated products.
Exploration Momentum at Chanach Project
Meanwhile, RTG’s majority-owned Chanach Gold and Copper Project in the Kyrgyz Republic is progressing with a 5,000-metre drilling campaign aimed at delineating a potentially large porphyry skarn system. The project already boasts a JORC-compliant inferred resource of nearly 3 million tonnes grading over 5 grams per tonne gold and 17 million tonnes at 0.37% copper. The current drilling focuses on anomalies identified by advanced geophysical surveys, with assay results anticipated in August 2025.
Panguna Project – Navigating Political and Community Engagement
RTG continues its role as the nominated development partner for the Panguna Copper-Gold Project in Bougainville, Papua New Guinea, working closely with the Special Mining Lease Osikaiyang Landowners Association and Central Exploration Pty Ltd. The company is actively engaging with the Autonomous Bougainville Government and the PNG Government as the transfer of Bougainville Copper Limited shares progresses, a move expected to facilitate redevelopment efforts. Upcoming presidential elections in Bougainville add a layer of political complexity to the project’s future.
Strong Financial Position Supports Growth
RTG bolstered its financial position during the quarter through a successful placement raising approximately A$19.5 million, increasing cash and liquid assets to A$17.2 million as of June 30, 2025. This capital injection underpins the company’s near-term development plans and ongoing exploration activities across its portfolio.
With key permits secured, financing in place, and exploration programs advancing, RTG Mining is poised to transition from exploration to production, leveraging strategic partnerships and high-grade assets to create shareholder value.
Bottom Line?
RTG’s secured financing and active exploration set the stage for a transformative year, but upcoming drilling results and permitting progress will be critical to watch.
Questions in the middle?
- How will the timing and completion of land acquisition and permitting impact the Mabilo DSO start-up?
- What insights will the August assay results from Chanach drilling provide about the project's scale and grade?
- How might political developments in Bougainville influence RTG’s role and prospects in the Panguna Project?
