RTG Secures US$30M Glencore Financing, Targets 25,200t Copper at Mabilo
RTG Mining moves closer to production at its high-grade Mabilo Copper and Gold Project with full financing secured from Glencore, while drilling results at its Chanach Project in Kyrgyzstan reveal promising resource expansion potential.
- Glencore finances 100% of Mabilo Stage 1 development capital
- Mabilo DSO targets 25,200 tonnes of copper and 52,900 ounces of gold
- Successful 4,300m drilling campaign at Chanach confirms high-grade copper-gold mineralization
- RTG holds 90% interest in Chanach and 40% in Mabilo via Mt. Labo
- Engagement continues on Panguna redevelopment amid Bougainville political stability
Strategic Financing Unlocks Mabilo Development
RTG Mining Inc. has taken a significant step forward in advancing its Mabilo Copper and Gold Project in the Philippines, securing a binding finance and offtake agreement with global commodities giant Glencore International AG. This strategic partnership ensures full funding for the Stage 1 Direct Shipping Operation (DSO), which targets the extraction of high-grade supergene chalcocite ore averaging 20.7% copper. The operation is expected to yield approximately 25,200 tonnes of copper and an additional 52,900 ounces of gold from associated products.
The financing facility, structured in three tranches totaling up to US$30 million, provides RTG with the capital necessary to complete land acquisition, development, and working capital requirements. With key permits and mining rights secured, RTG anticipates a development commitment early in 2026, marking a transition from exploration to production.
Chanach Project Drilling Highlights Resource Expansion
Meanwhile, RTG’s majority-owned Chanach Gold and Copper Project in the Kyrgyz Republic has delivered encouraging results from its 2025 drilling campaign. The completion of 4,300 meters of diamond drilling has confirmed the presence of multiple high-grade mineralized zones, including significant gold intercepts exceeding 15 grams per tonne and broad copper mineralization. These results reinforce the project's potential to host a large porphyry-skarn system, possibly surpassing Mabilo in scale.
The project benefits from a recently renewed three-year exploration license and favorable acquisition costs, positioning RTG well to expand its resource base. The diverse mineralization styles, including epithermal gold veins and skarn deposits, offer multiple avenues for resource growth and future development.
Panguna Project Engagement Amid Political Stability
RTG continues to engage as the nominated development partner for the Panguna Copper-Gold Project redevelopment in Bougainville, Papua New Guinea. The recent re-election of President Ishmael Toroama and his administration’s commitment to advancing the Panguna redevelopment aligns with RTG’s strategic interests. The company is actively evaluating how it can support the Autonomous Region of Bougainville’s plans for economic development and potential independence, maintaining a strong presence in this politically sensitive but resource-rich region.
Financial Position and Outlook
As of 30 September 2025, RTG reported cash and liquid assets of A$13.9 million, supporting ongoing exploration and development activities. While the company continues to invest in drilling and project advancement, the secured financing with Glencore significantly de-risks the Mabilo project’s path to production. RTG’s management team, experienced in mine development across multiple jurisdictions, remains focused on delivering value through disciplined execution and strategic partnerships.
Looking ahead, RTG’s near-term milestones include finalizing land acquisitions and permitting for Mabilo’s Stage 1 start-up, interpreting assay results from Chanach’s recent drilling, and deepening engagement on Panguna’s redevelopment framework. These efforts collectively underpin RTG’s ambition to transition into a producing copper and gold company with diversified assets across the Asia-Pacific and Central Asia regions.
Bottom Line?
With Glencore’s backing and promising exploration results, RTG is poised for a pivotal 2026 as it advances multiple high-grade copper-gold projects toward production.
Questions in the middle?
- How will RTG manage the repayment of its US$27 million loan from Mabilo DSO proceeds while maintaining operational liquidity?
- What are the timelines and regulatory hurdles remaining before Mabilo’s Stage 1 development can commence?
- How might evolving political dynamics in Bougainville impact RTG’s role and prospects in the Panguna Project redevelopment?
