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Highlights
Dynacor’s Peruvian mill operations resumed at full capacity in mid-July following the lifting of road blockades, with optimization projects beginning to deliver efficiency gains.
Construction of the Senegal pilot plant remains on schedule, with delivery expected in Q4 2025 and first ore targeted for Q1 2026.
In Ecuador, Dynacor is advancing plant upgrade planning, stakeholder engagement, and government agreements to support the Svetlana processing plant acquisition.
Dynacor Group Inc. (TSX:DNG) announced that its ore processing operations in Peru have returned to full capacity following the mid-July lifting of road blockades. The company reaffirmed its focus on meeting 2025 guidance, supported by ore purchasing and the roll-out of mill optimization initiatives.
Optimization projects, launched by Dynacor’s recently strengthened teams, are beginning to yield results. Key measures implemented include reductions in reagent use, improvements in laboratory and water consumption, enhancements to tailings pond management, and new management processes. These initiatives are designed to improve mill efficiency and support second half of the year.
Expansion in West Africa and Latin America
In Senegal, progress continues on the construction of Dynacor’s pilot plant. Mobilization of construction teams has commenced, with land clearance, fencing, and development of a three-kilometer access road scheduled to begin after the rainy season ends in September. Tailings pond construction is slated for late September, while the modular pilot plant is expected to be delivered in Q4 2025. First ore processing remains on track for Q1 2026.
In Ecuador, following the July acquisition of the Svetlana processing plant, Dynacor has initiated steps to define its new corporate structure. The company is working with Ecuadorian authorities to establish banking, legal, and fiscal frameworks, and is advancing discussions with the Ministry of Production, Foreign Trade, Investment and Fisheries (MPCEIP) to finalize an Investment Protection Agreement (IPA). The IPA would provide legal, tax, and regulatory stability in return for Dynacor’s commitment to invest in the project.
Work is also progressing on plant upgrades, with immediate priorities including assessment of the active tailings pond, decommissioning of two historic ponds in compliance with international standards, and a review of the main electrical substation to enable commissioning of large motors. Retention of most plant staff is supporting operational readiness and knowledge transfer.
In parallel, Dynacor is preparing to initiate the stakeholder engagement phase of the Environmental Impact Assessment (EIA) plan. This process will involve direct dialogue with local communities to present its environmental management framework and community programs, an important step given the absence of community engagement since the plant’s closure.
West African Developments
In Ghana, the company continues to engage with government authorities, including the Ministry of Lands and Natural Resources and the Minerals Commission, to advance its business plan. In Côte d’Ivoire, Dynacor is monitoring revisions to the mining code but does not anticipate a decision until after the presidential election in October 2025.
Outlook
Dynacor reiterated its long-term target of generating more than USD 1 billion in sales by 2030, underpinned by its strategy of expanding ore processing operations across multiple jurisdictions while maintaining a responsible mineral supply chain.
About Dynacor
Founded in 1996, Dynacor Group is an industrial ore processing company producing gold sourced from artisanal miners. The company is recognized for pioneering a responsible mineral supply chain with strict traceability and audit standards across the artisanal mining industry.
