Foran Mining Advances Construction Activities at Its McIlvenna Bay Project, Canada
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Foran Mining released details on construction activities completed during the month of October 2025 at its 100 percent owned McIlvenna Bay Project in Saskatchewan. With the project now approximately 72 percent complete, McIlvenna Bay remains on schedule for commercial production in mid-2026 and continues to track on budget.
“Reaching 72 percent completion is a very meaningful milestone for our team and speaks to the steady progress underway across the entire project. Month after month, we are delivering on our development objectives, advancing major surface and underground infrastructure, and building real momentum as we move toward first production next year,” said Dan Myerson, executive chairman and CEO of Foran.
“What we are seeing on site today is the result of many decades of hard and meticulous work, and a clear plan that is being executed with discipline, and every milestone achieved brings us closer to introducing a new copper, zinc, gold and silver asset at a pivotal moment for global metals supply. As we enter the final phases of construction, our sole focus remains on driving high quality and safe execution, while thereby positioning the mine to create lasting value for our communities, our shareholders and Canada,” added Myerson.
Overall construction reached approximately 72 percent, firmly tracking in line with monthly targets and supporting the company’s reaffirmed outlook for commercial production in mid 2026.
Key surface construction milestones in October included commencement of the installation of the tower structures for the transmission line, progress on the main on-site electrical substation, continuation of the structural steel, mechanical, piping and electrical installation in the process plant, commencement of excavation and pouring of concrete footings for the paste plant thickener, pouring of the concrete base and wall installations for the compressor building, installation of surface ore conveyor, start of tank and ore bin erection, and near completion of the assay lab.
The company said it welcomed the expanded policy announcement of the Clean Technology Manufacturing Investment Tax Credit as part of the Canadian Federal Budget. The company said this proposal is a constructive and forward-looking policy measure that underscores the federal government’s support for critical mineral development across the country.
Foran Mining is a near-term critical minerals producer, committed to supporting a greener future and empowering communities while creating value for our stakeholders. The McIlvenna Bay project is located within the documented traditional territory of the Peter Ballantyne Cree Nation, comprises the infrastructure and works related to development and advanced exploration activities of the company, and hosts the McIlvenna Bay Deposit and Tesla Zone.
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