By Robb M. Stewart
Orvana Minerals expects doré production at its expanded plant in Bolivia to begin next month, while production at the Canadian miner's producing OroValle operation in north Spain is on track to meet guidance for the fiscal year.
Doré is a semi-pure alloy produced at mine sites before refining.
On 1Q production:
The mining company said Friday it produced 10,576 gold equivalent ounces in the fiscal first quarter at OroValle, including 9,308 troy ounces of gold, 706,000 pounds of copper and 31,007 ounces of silver. That compares with 7,587 gold-equivalent ounces the quarter before and 9,694 ounces in the same three-month period a year earlier.
Gold output for the quarter was 47% higher than in the previous quarter, thanks to an increase in tons milled, 2% higher recoveries and a higher gold grade, the company said.
Copper output was down 9% from the prior quarter, which Orvana said was mainly due to a lower copper grade and lower recoveries, partially offset by an increase in tons milled.
On guidance:
Orvana said Orovalle is on track to meet fiscal 2026 production guidance of 34,000 to 37,000 ounces of gold and between 2.7 million and 3 million pounds of copper.
In late November, the company forecast a stable operating performance in Spain, the phased restart of production in Bolivia, and the continuation of its planned exploration program in Argentina during the coming year.
On the oxides stockpile project:
Orvana said that its Don Mario plant expansion in Bolvia is advancing through final construction and commissioning activities.
Legacy ore from the Las Tojas area that remained on site from prior operations is expected to be processed beginning in February into mid-March 2026, and initial doré production should commence in February.
The company last month said it had begun performance verification of the comminution and thickening circuits, originally expected to be completed by mid-January 2026. These activities have taken longer than anticipated and are now expected to continue until early February, Orvana said. It said it is also working to enhance the desorption and smelting processes for gold and silver, and expects to complete these processes in January.
A copper circuit, part of the Don Mario plant expansion, is now expected to be completed by mid-March versus a prior schedule to be completed in January, following delays in the delivery of certain materials and services. A connection between the copper and silver-gold circuits will be made, with the processing of oxide stockpiles ore expected to begin during April, the company said.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
January 16, 2026 07:33 ET (12:33 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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