Orvana Produces First Doré Bar as Don Mario Plant Restart Advances
Event summary
- Orvana's Bolivian subsidiary EMIPA produced its first doré bar from legacy sulfide ore processed through the Au-Ag circuit as part of the Don Mario plant restart.
- The milestone confirms successful restart of the Au-Ag circuit following upgrades, with completion of Cu circuits remaining the key near-term milestone.
- Oxide stockpile processing is expected to begin in Q2 FY2026, with ramp-up through Q3 and target full operating capacity in Q4 FY2026.
- The Don Mario operation was temporarily suspended in Q1 FY2020 following depletion of mineral reserves.
The big picture
Orvana's successful production of the first doré bar marks a critical step in the restart of the Don Mario plant, which is designed to process oxide material stockpiled during previous years of mining. The project includes significant upgrades to the processing plant to optimize the recovery of copper, gold, and silver. This development comes at a time of strong commodity prices, underscoring the strategic importance of bringing the operation back into full capacity. The restart is part of Orvana's broader strategy to leverage its multi-mine portfolio, which includes producing mines in Spain and Argentina.
What we're watching
- Execution Risk
- Whether Orvana can sustain the pace of restart milestones and achieve full operational capacity by Q4 FY2026.
- Commodity Prices
- How sustained strong gold and silver prices will impact the strategic importance of the Don Mario restart.
- Operational Integration
- The phased integration of all processing circuits and the commencement of oxide stockpile processing.
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