RTG Mining is advancing swiftly towards a near-term start-up of its high-grade Mabilo Copper and Gold Project in the Philippines, supported by a full financing agreement with Glencore. Meanwhile, promising exploration results from the Chanach Project in Kyrgyzstan and ongoing engagement in Bougainville signal a diversified growth pipeline.
- Mabilo Project development targeted for Q2 2026 with 9-month timeline
- Glencore to finance 100% of Stage 1 capital expenditure for Mabilo DSO
- High-grade supergene chalcocite ore averaging 21% copper
- Strong exploration results at Chanach Project with multiple high-grade gold and copper intercepts
- RTG holds A$12.5 million in cash and maintains active engagement in Bougainville redevelopment
Mabilo Project Poised for Rapid Development
RTG Mining Inc. is making significant strides towards operationalising its Mabilo Copper and Gold Project in the Philippines, with a targeted development start-up in the second quarter of 2026. The project’s first phase is a Direct Shipping Operation (DSO), which notably reduces capital expenditure and accelerates the timeline to production. With an estimated nine-month development schedule, the project is expected to commence operations by the end of this calendar year, generating early cash flow from a high-grade supergene chalcocite ore averaging approximately 21% copper.
Backing this development is a binding financing and offtake agreement with global commodities giant Glencore International AG. Glencore has committed to funding 100% of the Stage 1 capital expenditure, providing up to US$30 million in tranches to cover land acquisition, development, and working capital. This partnership not only secures the necessary capital but also affirms confidence in the project’s economics and strategic value.
Strong Commodity Prices Enhance Project Viability
The timing of the Mabilo Project is particularly advantageous given the current and forecasted strength in copper prices. RTG’s management highlights that the project’s short development cycle and high-grade ore position it well to capitalise on these favourable market conditions. The low-risk nature of the initial stage, requiring no plant construction and primarily involving a pre-strip program, further mitigates execution risks.
Exploration Momentum at Chanach Project
Beyond the Philippines, RTG’s majority-owned Chanach Gold and Copper Project in the Kyrgyz Republic continues to deliver encouraging exploration results. The 2025 drilling campaign, which concluded due to seasonal weather, yielded multiple high-grade gold intercepts, including standout assays such as 3.4 metres at 15.3 grams per tonne gold. These results reinforce the potential for a large, high-grade porphyry-skarn system combined with epithermal gold mineralisation.
With over 200 geochemical samples assayed and further interpretation underway, RTG plans to resume exploration activities in the March 2026 quarter. The project benefits from a recently renewed three-year exploration licence, securing tenure in a prolific metallogenic belt known for world-class deposits.
Bougainville Engagement and Corporate Position
RTG remains actively engaged as the nominated development partner for the Panguna Copper-Gold Project in Bougainville, Papua New Guinea. This initiative is led by local landowners and supported by the Autonomous Bougainville Government, which recently saw the re-election of President Ishmael Toroama. RTG is exploring how best to support the region’s redevelopment plans, reflecting its commitment to sustainable and community-aligned mining development.
Financially, RTG reported cash and liquid assets of A$12.5 million as of 31 December 2025, providing a solid foundation to advance its projects. The company continues to manage expenditures prudently while progressing key milestones across its portfolio.
Looking Ahead
With the Mabilo Project’s development financing secured and a clear path to start-up, RTG Mining is positioning itself as a near-term copper and gold producer with a compelling asset base. The unfolding exploration results at Chanach and ongoing engagement in Bougainville add layers of potential growth. Investors will be watching closely as permitting, drilling, and development activities unfold in the coming months.
Bottom Line?
RTG’s imminent Mabilo start-up backed by Glencore financing sets the stage for a pivotal year ahead in copper and gold production.
Questions in the middle?
- Will RTG secure all necessary permits, including coconut tree felling approvals, to meet the Q2 2026 development timeline?
- How will ongoing exploration results at Chanach influence RTG’s strategic focus and capital allocation?
- What role will RTG play in the evolving Bougainville mining landscape amid political and community developments?