VANCOUVER, British Columbia, April 16, 2026 (GLOBE NEWSWIRE) — USANewsGroup.com News Commentary — Copper inventories are draining faster than the industry can replace them. ING projects a 600,000 tonne refined deficit for 2026, driven by persistent mine disruptions and a supply chain that simply cannot keep pace. The math gets worse when you dig into the geology: global ore grades have collapsed 40% since 1991[1], and new projects now take an average of 17 years from discovery to first production. That timeline mismatch is forcing institutions to look earlier in the development curve, toward names like Salazar Resources (TSXV: SRL) (OTCQB: SRLZF), Foran Mining (TSX: FOM) (OTCQX: FMCXF), Solaris Resources (NYSE-A: SLSR) (TSX: SLS), Faraday Copper (TSX: FDY) (OTCQX: CPPKF), and ATEX Resources (TSXV: ATX) (OTCQB: ATXRF) , are advancing projects positioned to fill the supply vacuum.
Analysts see copper reaching $12,000 per tonne by mid-2026, with tight inventories and accelerating demand from AI infrastructure and grid expansion keeping pressure on prices. The bottleneck is structural: concentrate availability faces a projected 300,000 tonne shortfall[2], which means discovery-stage assets with clear development pathways are commanding a value premium that would have seemed aggressive two years ago.
Salazar Resources (TSXV: SRL) (OTCQB: SRLZF) has identified a high-priority copper-gold porphyry target at its wholly owned Monja Project in Ecuador, marking the asset as a cornerstone of the company’s exploration strategy. Surface mapping has defined a two-kilometer by one-kilometer mineralized core within a metallogenic belt known to host multiple significant copper deposits in southern Ecuador.
Rock chip sampling returned encouraging results, with the best sample grading 4.77% copper, 1.12 g/t gold, 19.5 g/t silver, and 74 ppm molybdenum. Field crews documented hydrothermal breccias with pyrite-chalcopyrite matrix, quartz-sulphide stockwork veining, and traces of bornite, all considered strong indicators of porphyry fertility. The 9,088-hectare concession benefits from year-round exploration access and sits in close proximity to Sunstone Metals’ Bramaderos porphyry project.
“We are very pleased to be advancing our 100%-owned Monja concession,” said Fredy Salazar, CEO of Salazar Resources. “The identification of a complete copper-gold porphyry system through our own fieldwork highlights the strength of Salazar’s exploration team. With clear fertility indicators including bornite and tourmaline breccias, and a sizeable alteration footprint already mapped, Monja represents an exciting new greenfields discovery with strong discovery potential.”
The Monja announcement follows Salazar’s recent acquisition of four copper-gold exploration properties from Silvercorp Metals (NYSE-A: SVM) (TSX: SVM), giving the company full ownership of the Santiago, Pijilí, Tarqui, and Quimi projects. Silvercorp transferred its subsidiary interests in exchange for a 1.5% net smelter return royalty on each property. At Santiago, historical drilling by Newmont intersected 323 metres grading 0.25% copper and 0.40 g/t gold. Tarqui and Quimi sit within the Zamora Metallogenic Belt alongside the producing Mirador Mine and Fruta del Norte Mine.
On the development side, Salazar retains a 25% carried interest in the El Domo copper-gold mine, where Silvercorp is funding construction on a US$284 million budget with production targeted for July 1, 2027. Over 2.6 million cubic metres of material have been moved, a 600-bed construction camp is commissioned, and an improved flowsheet delivered a 5.4% increase in copper recovery and a 6.2% increase in gold recovery over the original feasibility design.
With Monja now prioritized for mapping and geophysics, drilling planned at Santiago and Tarqui later this year, and El Domo’s production date less than sixteen months away, Salazar is running parallel value tracks built on both discovery potential and a mine already taking shape.
Read this and more news for Salazar Resources at: https://usanewsgroup.com/2026/03/18/a-3-billion-partner-is-building-this-copper-gold-mine-salazar-keeps-25/
Other industry developments and happenings in the market include:
Foran Mining (TSX: FOM) (OTCQX: FMCXF) reported mill commissioning progress at its 100%-owned McIlvenna Bay copper-zinc-gold-silver project in Saskatchewan, with overall construction reaching approximately 91% completion at the end of February 2026, on schedule and within budget for mid-2026 commercial production. The company has built a surface ore stockpile of approximately 271,000 tonnes, completed cold commissioning activities including the first idle run of the ball mill, and successfully energized an 85 km, 110 kV transmission line connecting the project to renewable hydroelectric power ahead of schedule.
“February marked a pivotal milestone for Foran, with McIlvenna Bay surpassing 90% completion and entering cold commissioning on schedule,” said Dan Myerson, Executive Chairman and CEO of Foran Mining. “We are now in the final stages of operational readiness as we prepare to introduce first ore to the mill, a milestone strategically timed with the recent energization of our renewable hydropower line.”
Underground development advanced approximately 505 metres in February, with bulk mining blasting of the second stope underway and backfilling processes initiated. The McIlvenna Bay deposit holds an indicated mineral resource of 38.6 Mt grading 2.02% CuEq, positioning Foran Mining as a near-term critical minerals producer supporting the global energy transition.
Solaris Resources (NYSE-A: SLSR) (TSX: SLS) received the technical approval of the Environmental Impact Assessment for the Warintza Project in southeastern Ecuador following a comprehensive multi-year review by the country’s Ministry of Environment and Energy, a major permitting milestone that significantly de-risks the copper project. This milestone also triggers the second US$50 million tranche under Solaris Resources‘ existing US$200 million financing agreement with Royal Gold, further strengthening its balance sheet.
“This approval is a critical milestone for the Warintza Project and an important validation of the technical quality, environmental stewardship and responsible development approach undertaken by our team,” said Matthew Rowlinson, President and CEO of Solaris Resources. “The EIA review involved rigorous technical evaluation and close collaboration with regulators over an extended period.”
Following the EIA technical approval, the Warintza Project will advance through Ecuador’s remaining environmental licensing steps including the government-led Free, Prior and Informed Consultation process, with final permits expected by year-end 2026. Solaris Resources is advancing permitting, infrastructure development, and district-scale exploration at Warintza, positioning it as a globally significant near-term copper development project.
Faraday Copper (TSX: FDY) (OTCQX: CPPKF) released results from eight drill holes in its Phase IV program at the Copper Creek Project in Arizona, with six holes in the American Eagle area confirming near-surface copper mineralization above open pit cutoff grade, including 93.05 metres at 0.44% copper from 122.00 metres in FCD-25-136 (including 16.15 metres at 1.24% copper) and 67.00 metres at 0.40% copper in FCD-25-143. A northeast extension of Keel returned 551.00 metres at 0.34% copper, including 18.00 metres at 0.72% copper and 34.00 metres at 0.56% copper.
“The results from our Phase IV drill program continue to increase our confidence in expanding the near surface mineralization in the American Eagle area,” said Paul Harbidge, President and CEO of Faraday Copper. “In addition, the drill hole at Keel, which was also intended for hydrological data gathering, demonstrates that the underground mineralization remains open for expansion with further drilling.”
Phase IV drilling is ongoing and focused on increasing open pit potential, testing district exploration targets, and collecting hydrogeological and geotechnical data for future technical studies. Faraday Copper is advancing Copper Creek toward a potential open pit resource above the existing American Eagle underground resource while testing district-scale targets across the broader Arizona project area.
ATEX Resources (TSXV: ATX) (OTCQB: ATXRF) reported drill results from its Phase VI program at the Valeriano Copper-Gold project in Chile’s Atacama Region, significantly expanding the B2B mineralized footprint by at least 135 meters to the east. Hole ATXD34 returned 172 meters of 0.80% CuEq within a broader 834-meter interval grading 0.66% CuEq, while regional holes ATXD33 and ATXD30 confirmed porphyry-style mineralization extending southeast and north, establishing a mineralized corridor now spanning 1.8 km north to south.
“Today’s drill results represent another important step forward in our understanding of the structural controls and orientation of the higher-grade breccia within a broader mineralized system that has now been significantly expanded to the east,” said Chris Beer, Interim CEO of ATEX Resources. “This horizon lies above the high-grade Valeriano porphyry trend and remains open for further expansion into untested areas.”
The Phase VI program has completed approximately 24,000 meters across six active diamond rigs and is now expected to exceed 30,000 meters by season’s end. Valeriano hosts an Indicated Resource of 475 Mt at 0.88% CuEq and an Inferred Resource of 1,511 Mt at 0.75% CuEq, with multiple holes currently in progress targeting B2B extensions and new magnetic anomalies to the northeast.
FURTHER READING: https://usanewsgroup.com/2026/03/18/a-3-billion-partner-is-building-this-copper-gold-mine-salazar-keeps-25/
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SOURCES:
- https://www.iea.org/commentaries/copper-prices-have-hit-record-highs-but-smelters-face-mounting-strategic-pressures
- https://www.fastmarkets.com/insights/copper-key-takeaways-from-webinar-on-2026-market-outlook/
