Foran Mining has released its second quarter report highlighting the construction of its McIlvenna Bay project. Despite the interruption from the evacuation, commercial production remains on track for the middle of next year.

Foran estimates a $10-12 million total impact from the regional wildfire and associated downtime. Dan Myerson, Executive Chairman and CEO of Foran, commented "The past quarter reminded us that building a greenfield copper mine, especially one of this scale and importance, is never easy. Regional wildfires tested our resilience, but our team and partners responded with focus... With more than 40% of the project now complete, we're making significant progress towards our reiterated commercial production target of mid-2026.”

Foran also announced that it has established an equity program to offer and sell up to $50 million of stock. Funds will go towards the ramp-up of commercial production at the McIlvenna Bay Project.