Foran Mining Corporation
FOM.V
Toronto Stock Exchange Ventures3.23
CAD
+0.12
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Foran Mining Corporation
FOM.V
(Toronto Stock Exchange Ventures)
Recent
price
3.23
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Foran Mining Corporation is a Canadian-based exploration and development company specializing in copper, zinc, gold, and silver resources. The company primarily focuses on advancing its flagship McIlvenna Bay Project in Saskatchewan, which is the only environmentally permitted copper-zinc development project under construction in North America. Foran’s core products and services include the mining and development of copper-zinc-gold-silver deposits, leveraging advanced underground long-hole mining methods and conventional processing techniques including crushing, grinding, and flotation to produce copper and zinc concentrates. The company also operates the Bigstone Project, a resource-development stage deposit located near McIlvenna Bay. Founded in 1987 and headquartered in Vancouver, British Columbia, Foran targets critical minerals essential for the green economy and serves markets involved in clean energy, digital technology, and sustainable industrial applications. Recent major developments include a formal construction decision for Phase 1 at McIlvenna Bay, with commercial production expected by mid-2026. Foran secured significant strategic investments totaling approximately CAD 315 million from cornerstone investors including Fairfax Financial and Agnico Eagle Mines, advancing its construction and development plans. The company has also entered into a strategic agreement with G Mining Services to provide integrated project management, ensuring on-time and on-budget delivery. Additionally, Foran has obtained environmental assessment approvals and operational permits facilitating advanced exploration and development activities. It has positioned itself as North America’s first carbon-neutral copper development project by implementing carbon offset purchases and investing in sustainable technologies such as battery-electric equipment, ventilation-on-demand, and water recycling systems. Foran leverages innovative exploration programs in its Tesla and Bridge zones to expand resource potential within its extensive Saskatchewan landholdings exceeding 103,000 hectares. Through these initiatives, Foran Mining explicitly commits to responsible mining practices, community collaboration particularly with Indigenous groups, and sustainability leadership in the critical minerals sector. This strategic positioning reinforces Foran’s role as a key supplier of copper, zinc, gold, and silver critical for the transitioning global clean energy and digital economies.
Eldorado Gold to acquire Foran Mining in C$3.8B deal