Foran Mining Advances Rare Tier-One Copper Asset in Saskatchewan

Foran Mining (TSX: FOM; OTCQX: FMCXF) is preparing to bring Canada’s next copper mine online. Executive Chair Dan Myerson joins Kitco Mining at the 2025 NBF CEO Mining Conference in London to give an update on the McIlvenna Bay build in Saskatchewan. Phase one carries an $800 million capital cost and is set to produce 65 million pounds of copper per year starting February 2026. Despite port closures, airline strikes, tariff shocks, and wildfire evacuations, Myerson says the team “overcame a significant amount of adversity” and the project “has gone incredibly well.”

Foran is the only new copper mine coming online in Canada as several long-running operations close, positioning the company at the centre of a tightening supply picture. Saskatchewan’s geology continues the historic VMS belt from Manitoba, giving the Foran district-scale potential beyond first production. And with high-quality mid-tier copper assets “as rare as hen’s teeth,” Myerson sees a strong strategic window ahead.

In this interview, Dan Myerson also discusses:
• Phase two and future district expansion
• Tesla Zone exploration and the upcoming maiden resource
• Government backing, permitting efficiency, and national priority status
• Creative financing options in a high-price metals environment
• How Agnico Eagle’s technical depth supports Foran’s ramp-up
• Copper, zinc, gold, and silver market dynamics heading into 2026

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Special thanks to our sponsor, Agnico Eagle, for making this coverage possible.
 Visit https://agnicoeagle.com/ to learn more.

https://youtu.be/IZimaCPIh1Q?si=G_i8w_qUPkqARtwO

Disclaimer: The views expressed in this podcast are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this podcast do not accept culpability for losses and/ or damages arising from the use of this publication.