Mining Americas at Mining Forum Americas 2026: growth plan gains pace

Mining Americas Inc. (MAI) unveiled an ambitious growth plan for its gold production during the Mining Forum Americas 2026 event. The company aims to increase its annual gold output from 35,000 ounces in 2026 to over 180,000 ounces by 2029, while keeping capital spending relatively low. MAI plans to build three fully permitted mines in the U.S. and Mexico, with the Pan mine in Nevada serving as the primary cash generator.

The company has already received a permit for Cerro de Oro in Mexico, a low-water heap-leach project that could support production through at least 2030. Key milestones include the construction of Copperstone in Arizona, which began in June 2024, and a permit win in Mexico, all of which are expected to contribute to the growth plan with minimal capital investment.

MAI's three-mine buildout is projected to cost between $115 million and $125 million, making it an unusually low-cost approach for the scale of growth. The company's balance sheet currently includes $43 million in cash and access to additional bank capacity, and its market capitalization is about $450 million. Institutional investors have shown strong confidence in the company, with institutional ownership rising to 53% from 15% a year ago.