Latest Cuba News

Melbana Energy is poised to resume 100% ownership of its Cuban Block 9 after its partner Sonangol defaulted on US$23.5 million in cash calls. Fresh seismic data and well results have refined reservoir understanding, derisking future drilling plans.

Antilles Gold has ramped up construction at its Nueva Sabana gold-copper mine in Cuba, with a $35 million funding package in place and production slated for early 2027. The company is also progressing pre-development and exploration activities on multiple Cuban concessions.

Antilles Gold has secured $2 million through a share placement to a Chinese investor, strengthening funding for the Nueva Sabana mine construction in Cuba. The capital injection increases the joint venture loan and highlights ongoing financial manoeuvres ahead of mine commissioning.

Melbana Energy Limited’s March quarter report details modest crude production from the Alameda-2 well in Cuba and ongoing preparations for the Amistad-11 drilling, which remains on hold due to a joint partner’s funding default. The company holds $2 million in cash and continues to process seismic data to refine its subsurface models.

Melbana Energy’s Q4 2025 report reveals a complex quarter with drilling setbacks in Cuba due to partner payment issues, alongside significant resource upgrades offshore Australia.

Antilles Gold has officially commenced construction on its Nueva Sabana copper-gold mine in Cuba, backed by a $35 million funding package and a $29.5 million EPC contract with Shandong Xinhai Mining. Initial gold production is targeted for early 2027, promising strong financial returns.

Antilles Gold has received an interim distribution of A$3.25 million from the liquidation of a former subsidiary, directing these funds to support construction of its Nueva Sabana copper-gold mine in Cuba.

Melbana Energy has postponed drilling the Amistad-11 well in Cuba after joint venture partner Sonangol failed to meet payment obligations, triggering a formal Notice of Default.

Melbana Energy has begun mobilisation for drilling the Amistad-11 well in Cuba’s Block 9, aiming to restore and improve production after formation damage impacted a key well.

Antilles Gold has launched a substantial infill drilling program at its La Demajagua mine in Cuba, setting the stage for a Definitive Feasibility Study that could unlock enhanced resource value amid soaring gold, silver, and antimony prices.

Melbana Energy’s latest drilling at Amistad-2 in Cuba reveals excellent reservoir quality but disappointingly no oil production, prompting a strategic pivot in exploration plans.

Antilles Gold Limited has released an updated financial analysis for its Nueva Sabana copper-gold mine in Cuba, highlighting improved project economics and a construction start slated for late 2025. The study reflects higher metal prices and revised costs, underpinning a strong net profit and positive cash flow outlook.