{"id":25534,"date":"2026-03-04T22:17:08","date_gmt":"2026-03-04T22:17:08","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/25534\/"},"modified":"2026-03-04T22:17:08","modified_gmt":"2026-03-04T22:17:08","slug":"glencore-passes-on-kidd-to-discovery-silver","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/25534\/","title":{"rendered":"Glencore passes on Kidd to Discovery Silver"},"content":{"rendered":"

Discovery Silver<\/a> (TSX:DSV) has entered into a definitive agreement to acquire Glencore\u2019s<\/a> (LSE:GLEN) Kidd operations in Ontario, Canada. <\/p>\n

The Kidd operations include a metallurgical site, tailings management area and the Kidd Creek Copper-Zinc-Silver Mine. <\/p>\n

As part of the agreement, Discovery Silver will issue US$10 million shares and grant Glencore a 1% net smelter return royalty that would apply to any future mineral production from a large exploration land package that is located outside of the existing operations. <\/p>\n

The agreement also includes a deferred payment of up to US$75 million, payable either in Discovery common shares or in cash at the sole discretion of Discovery. The future payment shall be paid upon receiving of all materials permits and regulatory approvals required to deposit gold tailings at the Kidd tailings management area. <\/p>\n

SCP Resource Finance and John Tumazos acted as financial advisors to Discovery Silver. Cassel Brock & Blackwell acted as the legal advisor. <\/p>\n

\"\"\"\"<\/p>\n

CEO Tony Makuch says acquiring the Kidd operations provides an opportunity to increase the processing and tailings capacity and supports a growth trajectory that could more than double gold production in Timmins to over half a million ounces per year. <\/p>\n

\u201cIn addition, the acquisition also provides important synergies that will augment our current operations and delivers a large land package with tremendous exploration upside potential for copper, zinc and silver, the metals produced at Kidd Creek, as well as for other critical minerals and gold,\u201d Makuch says. <\/p>\n

\u201cVery importantly, the Kidd operations include valuable, well-maintained infrastructure, and come with a large, highly skilled labour force with expertise and experience in all key disciplines of our business, which we plan to leverage to support our future success in the Timmins camp.\u201d<\/p>\n

Makuch adds that among the many anticipated synergies resulting from the acquisition, haulage costs will be reduced given that Hoyle Pond and Pamour are 1km and 3km from the Kidd metallurgical site, respectively. <\/p>\n

\u201cThe Kidd surface rights will also allow for the optimal placement of potential new infrastructure for Hoyle Pond, including development related to the TVZ project, as well as improve options for waste rock deposition from the Pamour mine,\u201d he says. <\/p>\n

\u201cIn addition, we will have an opportunity to reduce reclamation costs at both Porcupine and Kidd by using Porcupine waste rock and gold tailings for Kidd tailings management.\u201d<\/p>\n

At Kidd, production started in 1966 and in 2024 totalled 40 million pounds of copper, 82 million pounds of zinc and 1.5 million ounces of silver. <\/p>\n

Kidd Creek is considered the world\u2019s deepest base metal mine, with mining operations currently at the 9,800 feet-level and the shaft extending to the 9,889-foot level. <\/p>\n

Discovery Silver is a precious metals-focused company with assets in Mexico and Canada. <\/p>\n

Write to Aaliyah Rogan<\/a> at Mining.com.au<\/a><\/p>\n

Images: Glencore & Unsplash<\/p>\n

Add to Watch List:GlencoreDiscovery Silver CorpPrecious Metals<\/p>\n","protected":false},"excerpt":{"rendered":"Discovery Silver (TSX:DSV) has entered into a definitive agreement to acquire Glencore\u2019s (LSE:GLEN) Kidd operations in Ontario, Canada.…\n","protected":false},"author":2,"featured_media":25535,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[123],"tags":[3264,563,132,15476,14958,15697,4907,14754],"class_list":["post-25534","post","type-post","status-publish","format-standard","has-post-thumbnail","category-glencore","tag-acquisition","tag-canada","tag-glencore","tag-mine","tag-minerals","tag-production","tag-silver","tag-zinc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116173225694163165","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/25534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=25534"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/25534\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/25535"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=25534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=25534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=25534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}