PPX Mining Completes Third Tranche of Construction Loan

PPX Mining Corp. has secured the third tranche of its construction facility, receiving US$1.8 million from its main shareholder. This financial arrangement is categorized as a related party transaction under Multilateral Instrument 61-101. The company is exempt from minority shareholder approval, having assessed that the loan's terms are favorable compared to an external party. The board unanimously approved the transaction.

Recent updates reveal significant progress at the Igor Project, where major equipment from Xinhai Mineral Processing PLC has reached Peru's Port of Callao. Customs clearance is imminent, after which equipment will proceed to the construction site or undergo precision measurement in Lima for local parts manufacturing.

PPX aims to complete its 350 tpd Carbon-in-Leach and flotation plant by December 2025. The facility will process ore from the Callanquitas Mine, with construction overseen by a third-party contractor. The project remains on schedule.