Indonesia Construction Equipment Market Sales to Reach by 25.43 Thousand units by 2030, Backed by Infrastructure Investments and Smart Tech Adoption
The Industry Analysis Report Provides Market Trends, Drivers, Opportunities, Competitive Outlook, Market Size, Sales, and Growth Forecast for 2025-2030.
Arizton's latest research reveals that Indonesia's construction equipment market is set to reach 25.43 thousand units by 2030, growing at a CAGR of 4.12% during 2024–2030. Supported by rising infrastructure investments, a shift toward digital and sustainable machinery, and stable economic growth, the market is gaining strong traction across sectors including construction, mining, and manufacturing.
In Q1 2025 alone, the Indonesian economy grew by 4.8% year-over-year, with the construction sector expanding by 2.1%, reinforcing demand for earthmoving and material-handling equipment.
Report Summary:
Market Size- Volume (2030): 25.43 Thousand Units
Market Size- Volume (2024): 19.96 Thousand Units
CAGR- Volume (2024-2030): 4.12%
Market Size- Revenue (2030): USD 1.79 Billion
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Equipment Type: Earthmoving Equipment, Road Construction Equipment, Material Handling Equipment, and Other Equipment
End-Users: Construction, Mining, Manufacturing, and Others
Indonesia's Construction Equipment Market Advances with Surge in Smart, Automated Machinery
Indonesia's construction equipment market is undergoing a steady shift toward digitalization, with increasing adoption of advanced technologies such as IoT, artificial intelligence (AI), and automation. These innovations are being integrated into modern machinery to enhance operational efficiency and uptime.
Real-time performance monitoring and predictive maintenance are helping manufacturers reduce equipment downtime and optimize productivity. Automated machinery, like smart excavators and loaders is also being deployed in large-scale infrastructure projects, improving both efficiency and on-site safety. In 2025, major players are responding to this shift with next-gen equipment launches. PT Indotruck Utama introduced the Volvo EC210 excavator, designed with the latest digital features and an ergonomic build. This model enhances fuel efficiency and performance, meeting the market's growing demand for smarter, high-output equipment.
Key Highlights – Indonesia Construction Equipment Market 2024
Earthmoving equipment accounted for the largest share in 2024, led by high demand for 20-ton and 4.5-ton excavators.
Infrastructure investment remains a key growth driver, especially in toll roads, airports, ports, and housing.
Major distributors include United Tractors, PT Hexindo Adiperkasa, Intraco Penta, and Traktor Nusantara.
Earthmoving remains the most in-demand segment, with wheel loaders, dump trucks, and concrete mixers also showing strong performance.
Indonesia Launches $12.3 Billion Infrastructure Drive, Boosting Construction Equipment Demand
The Indonesian government is launching a major infrastructure program valued at nearly $12.3 billion, inviting global investors to take part in key projects across roads, housing, food, and renewable energy. As part of this initiative, 46 priority projects have been opened to foreign investment, including major toll road developments. This growing public investment is expected to increase demand for construction equipment, as the national strategic program involves building toll roads, ports, airports, and other essential public facilities that rely on heavy machinery throughout the construction process.
Projects like the Trans Sumatra toll road and the development of the new national capital in Kalimantan are already driving the need for equipment such as excavators, bulldozers, and cranes. Additionally, upcoming renovation projects, aimed at upgrading homes and infrastructure to meet 2050 energy standards are set to further support market growth in the years ahead.
Competitive Dynamics Shift as Digital Services and Cost-Efficiency Drive Equipment Choices in Indonesia
Indonesia's construction equipment market is witnessing a shift in competitive dynamics, driven by demand for cost-effective machinery and improved after-sales service. Chinese OEMs are gaining ground by offering affordable equipment and accessible financing, meeting the rising demand for budget-friendly solutions in large-scale infrastructure projects.
At the same time, leading global and regional manufacturers such as Komatsu, Caterpillar, Hitachi, and Hyundai are enhancing customer experience through digital platforms and localized support. These include real-time equipment monitoring, digital maintenance tools, and online spare parts access, aimed at strengthening customer relationships and operational uptime. As the market grows more competitive, OEMs are also tailoring machines to regional needs, offering models optimized for housing and road construction, at more accessible price points.
Prominent Vendors
Caterpillar
Komatsu
Volvo Construction Equipment
Hitachi Construction Machinery
Liebherr
SANY
Xuzhou Construction Machinery Group Co. Ltd. (XCMG)
JCB
Kobelco
Zoomlion Heavy Industry Science & Technology Co. Ltd
Hyundai Construction Equipment
Other Prominent Vendors
Kubota
CNH Industrial
Yanmar
LiuGong
SAKAI HEAVY INDUSTRIES, LTD
Takeuchi
Toyota Material Handling
Manitou
Sumitomo Construction Machinery
KATO WORKS CO., LTD.
Terex Corporation
Toyota Material Handling International
Distributor Profiles
PT Indotruck Utama
United Tractors
Multicrane Perkasa
PT. Airindo Sakti
PT. Badak Prima Lestari
PT. United Equipment Indonesia
Market Segmentation and Forecast
Segmentation by Type
Earthmoving Equipment
Excavator
Backhoe Loaders
Wheeled Loaders
Other Earthmoving Equipment (Other loaders, Bulldozers, Trenchers, Motor Graders)
Road Construction Equipment
Road Rollers
Asphalt Pavers
Material Handling Equipment
Crane
Forklift & Telescopic Handlers
Aerial Platforms (Articulated Boom Lifts, Telescopic Boom lifts, Scissor lifts)
Other Construction Equipment
Dumper
Tipper
Concrete Mixer
Concrete Pump Truck
Segmentation by End Users
Construction
Mining
Manufacturing
Others (Power Generation, Utilities, Municipal Corporations, Oil & Gas, Cargo Handling, Power Generation Plants, Waste Management)
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What Key Findings Will Our Research Analysis Reveal?
How big is the Indonesia construction equipment market?
What is the growth rate of the Indonesia construction equipment market?
Who are the key players in the Indonesia construction equipment market?
What are the trends in the Indonesia construction equipment market?
Which are the major distributor companies in the Indonesia construction equipment market?
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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The Transaction will require approval of at least: (i) 66 2 / 3 % of the votes cast by the shareholders of Prime Mining; (ii) 66 2 / 3 % of the votes cast by the shareholders of Prime Mining and the holders of options ('Options'), restricted share units ('RSUs'), deferred share units ('DSUs'), and warrants ('Warrants'), voting together as a single class; and (iii) a simple majority of the votes cast by the shareholders of Prime Mining, excluding those votes attached to Prime Mining Shares held by persons required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'), at a special meeting of Prime Mining securityholders expected to be held in September 2025. The Transaction does not require a vote of Torex shareholders. Pierre Lassonde as well as the directors and senior officers of Prime Mining, who collectively own 23% of the Prime Mining Shares, have entered into voting support agreements, pursuant to which, subject to the terms and conditions set forth therein, they will vote their securities held, as applicable, in favour of the Transaction. In addition to securityholder and court approvals, the Transaction is subject to applicable regulatory approvals (including approvals of the TSX and clearance under Mexican antitrust laws) and the satisfaction of certain other closing conditions customary for a transaction of this nature. The Arrangement Agreement includes customary deal protections, including fiduciary-out provisions, non-solicitation covenants, and the right to match any superior proposals. Additionally, a termination fee payable in an amount of US$12.5 million is payable to Torex by Prime Mining in certain circumstances if the Transaction is not completed. 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Full details of the Transaction will be included in the meeting materials to be prepared by Prime Mining in connection with the special meeting of securityholders, which are expected to be mailed to such securityholders in September 2025. None of the securities to be issued pursuant to the Transaction have been or will be registered under the United States Securities Act of 1933, as amended (the 'U.S. Securities Act'), or any state securities laws, and any securities issued pursuant to the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities. BOARD OF DIRECTORS' AND SPECIAL COMMITTEE RECOMMENDATIONS The Arrangement Agreement has been unanimously approved by the Board of Directors of Torex (the 'Torex Board'), with Rick Howes not participating in deliberations of the Torex Board or voting on the Transaction given his role as CEO of Gold Candle Ltd., which has major shareholders in common with Prime Mining. Additionally, the Torex Board received a fairness opinion from CIBC World Markets Inc., which states that as of the date of such opinion and based upon and subject to the assumptions, limitations and qualifications set forth therein, the Consideration payable by Torex pursuant to the Arrangement Agreement, is fair, from a financial point of view, to Torex. The Board of Directors of Prime Mining (the 'Prime Mining Board') appointed a special committee of independent directors (the 'Special Committee') to, among other things, consider and make a recommendation to the Prime Mining Board with respect to the Transaction. After consultation with its financial and legal advisors, and on the unanimous recommendation of the Special Committee, the Prime Mining Board unanimously determined that the Transaction is in the best interests of Prime Mining and approved the Arrangement Agreement. Accordingly, the Prime Mining Board and the Special Committee recommend that Prime Mining securityholders vote in favour of the Transaction. The Prime Mining Board and the Special Committee received a fairness opinion from BMO Nesbitt Burns Inc., which states that as of the date of such opinion and based upon and subject to the various assumptions, limitations, qualifications and scope of review set forth therein, the Consideration to be received by Prime Mining shareholders (other than those Prime Mining shareholders whose votes are required to be excluded from the vote pursuant to Section 8.1(2) of MI 61-101), pursuant to the Transaction, is fair, from a financial point of view, to such Prime Mining shareholders. ADVISORS AND COUNSEL CIBC World Markets Inc. is acting as exclusive financial advisor to Torex. Cassels Brock & Blackwell LLP is acting as Torex's legal advisor. Trinity Advisors Corporation is acting as financial advisor to Prime Mining and its Board of Directors, and BMO Nesbitt Burns Inc. provided a fairness opinion to the Special Committee and the Prime Mining Board. Blake, Cassels & Graydon LLP is acting as Prime Mining's legal advisor. CONFERENCE CALL AND WEBCAST Senior management from Torex and Prime Mining will host a conference call and webcast on Monday, July 28, 2025 at 8:00 AM (ET) for members of the investment community to discuss the Transaction. Telephone Access For expedited access to the conference call, registration is open to obtain an access code in advance, which will allow participants to join the call directly at the scheduled time. Alternatively, dial-in details are as follows: Toronto local or International: 1-647-846-8914 Toll-Free (North America): 1-833-752-3842 Please join the conference call approximately ten minutes prior to the scheduled start time if using the dial-in details above. Webcast Access A webcast will be available on the Company's website at The webcast will also be archived on the Company's website. ABOUT TOREX GOLD RESOURCES INC. Torex Gold Resources Inc. is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City. The Company's principal asset is the Morelos Complex, which includes the producing Media Luna Underground, ELG Underground, and ELG Open Pit mines, the development stage EPO Underground Project, a processing plant, and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016 and an updated Technical Report for the Morelos Complex was released in March 2022. Torex's key strategic objectives are: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and industry leader in responsible mining. In addition to realizing the full potential of the Morelos Property, the Company is seeking opportunities to acquire assets that enable diversification and deliver value to shareholders. FOR FURTHER INFORMATION, PLEASE CONTACT: ABOUT PRIME MINING CORP. Prime Mining is managed by an ideal mix of successful mining executives, strong capital markets personnel, and experienced local operators all focused on unlocking the full potential of Los Reyes. Prime Mining has a well-planned capital structure with a strong management team and insider ownership. Prime Mining is targeting a material resource expansion at Los Reyes through a combination of new generative area discoveries and growth, while also building on technical de-risking activities to support eventual project development. FOR FURTHER INFORMATION, PLEASE CONTACT: PRIME MINING CORP. Scott Hicks Chief Executive Officer and Director Indi Gopinathan Vice President, Capital Markets & Business Development Tel: (604) 238-1659 info@ TECHNICAL INFORMATION (1) Prime Mining's current mineral resource estimate is comprised of 49.0 million tonnes Indicated Resources (1,491,000 ounces contained Au at 0.95 g/t and 54.00 million ounces contained Ag at 34.2 g/t) and an additional 17.2 million tonnes (538,000 ounces contained Au at 0.97 g/t and 21.56 million ounces contained Ag at 39.0 g/t) of Inferred material and has an effective date of October 15, 2024. Additional information is available in Prime Mining's technical report (the 'Prime Mining Technical Report') entitled 'The Los Reyes Project, México' with report date November 27, 2024 and effective date October 15, 2024, and amended report date of June 27, 2025 on SEDAR+ at (2) The mineral resource estimate for Torex's Morelos Complex can be found in the table below. Additional information is available in Torex's technical report (the 'Torex Technical Report') entitled the 'Morelos Property, NI 43-101 Technical Report, ELG Mine Complex Life of Mine Plan and Media Luna Feasibility Study, Guerrero State, Mexico', dated effective March 16, 2022, which was filed on March 31, 2022, and in Torex's annual information form dated March 21, 2025, each filed on SEDAR+ at Mineral Resource Estimate – Morelos Complex (December 31, 2024) Tonnes Au Ag Cu Au Ag Cu AuEq AuEq (kt) (gpt) (gpt) (%) (koz) (koz) (Mlb) (gpt) (koz) Media Luna Underground Measured 2,994 3.95 40.0 1.30 380 3,855 86 6.55 630 Indicated 26,120 2.83 30.2 1.05 2,374 25,385 603 4.90 4,114 Measured & Indicated 29,114 2.94 31.2 1.07 2,754 29,240 689 5.07 4,744 Inferred 7,675 2.38 22.8 0.90 587 5,632 152 4.12 1,017 ELG Underground Measured 3,164 5.04 7.4 0.27 512 751 19 5.56 566 Indicated 5,287 4.42 8.9 0.28 752 1,521 33 4.99 848 Measured & Indicated 8,451 4.65 8.4 0.28 1,264 2,272 51 5.20 1,414 Inferred 1,961 3.86 7.8 0.21 243 490 9 4.30 271 EPO Underground Measured - - - - - - - - - Indicated 7,060 2.66 31.2 1.28 604 7,082 200 5.18 1,176 Measured & Indicated 7,060 2.66 31.2 1.28 604 7,082 200 5.18 1,176 Inferred 6,883 1.76 39.3 1.24 390 8,690 188 4.31 954 ELG Open Pit Measured 189 3.89 7.0 0.20 24 43 1 3.97 24 Indicated 865 2.46 9.0 0.43 69 251 8 2.62 73 Measured & Indicated 1,054 2.72 8.7 0.38 92 294 9 2.86 97 Inferred 6 3.56 5.9 0.24 1 1 0 3.65 1 Total Morelos Complex Measured 6,347 4.49 22.8 0.75 916 4,649 105 5.98 1,220 Indicated 39,332 3.00 27.1 0.97 3,798 34,239 844 4.91 6,211 Measured & Indicated 45,679 3.21 26.5 0.94 4,714 38,888 949 5.06 7,431 Inferred 16,526 2.30 27.9 0.96 1,222 14,813 349 4.22 2,243 Notes to accompany the mineral resource table: Mineral resources were prepared in accordance with the CIM Definition Standards (May 2014). The effective date of the estimates is December 31, 2024. Mineral resources are depleted above a mining surface or to the as-mined solids as of December 31, 2024. Gold equivalent ('AuEq') of total mineral resources is established from combined contributions of the various deposits. Mineral resources for all deposits are based on an underlying gold ('Au') price of $1,650/oz, silver ('Ag') price of $22/oz, and copper ('Cu') price of $3.75/lb. Mineral resources are inclusive of mineral reserves (ex-stockpiles). Mineral resources that are not mineral reserves do not have demonstrated economic viability. Numbers may not add due to rounding. Mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The estimate was prepared by Mrs. Rochelle Collins, (Ontario), Principal, Mineral Resources. Notes to accompany Media Luna Underground mineral resources: Mineral resources for Media Luna Underground are reported above a 2.0 gpt AuEq cut-off grade. The assumed underground mining methods are a combination of long-hole open stoping and mechanized cut-and-fill. Mineral resources were estimated using ID 3 methods applied to 1.0 m capped downhole assay composites within lithology domains and internal grade domains. Block model size is 5 m x 5 m x 5 m with 2.5 m x 2.5 m x 2.5 m sub-blocks. Metallurgical recoveries at Media Luna Underground average 90% Au, 86% Ag, and 93% Cu. The dataset allowed the bulk density to be directly estimated into the domains with an average bulk density of 3.2 g/cm 3. Media Luna Underground AuEq = Au (gpt) + (Ag (gpt) * 0.0127) + (Cu (%) * 1.6104), accounting for underlying metal prices and metallurgical recoveries. Notes to accompany ELG Underground mineral resources: Mineral resources for ELG Underground are reported above a cut-off grade of 2.2 gpt AuEq. The assumed underground mining method is mechanized cut-and-fill. Mineral resources were estimated using ID 3 methods applied to 1.0 m capped downhole assay composites within lithology domains and internal grade domains. Block model size is 5 m x 5 m x 5m with 2.5 m x 2.5 m x 2.5m sub-blocks. Average metallurgical recoveries are 90% Au, 86% Ag, and 93% Cu, accounting for recoveries with planned copper concentrator. The dataset allowed the bulk density to be directly estimated into the domains with an average bulk density of 3.4 g/cm 3. ELG Underground AuEq = Au (gpt) + (Ag (gpt) * 0.0127) + (Cu (%) * 1.6104), accounting for underlying metal prices and metallurgical recoveries. Notes to accompany EPO Underground mineral resources: Mineral resources for EPO Underground are reported above a 2.0 gpt AuEq cut-off grade. The assumed mining method is from underground methods, using long-hole open stoping. Mineral resources were estimated using ID 3 methods applied to 1.0 m capped downhole assay composites within lithology domains and internal grade domains. Block model size is 5 m x 5 m x 5m with 2.5 m x 2.5 m x 2.5 m sub-blocks. Metallurgical recoveries at EPO average 87% Au, 85% Ag, and 92% Cu. The dataset allowed the bulk density to be directly estimated into the domains with an average bulk density of 3.5 g/cm 3. EPO Underground AuEq = Au (gpt) + (Ag (gpt) * 0.0130) + (Cu (%) * 1.6480), accounting for underlying metal prices and metallurgical recoveries. Notes to accompany the ELG Open Pit mineral resources: Mineral resources for ELG Open Pit are reported above an in-situ cut-off grade of 0.78 gpt Au. Mineral resources were estimated using ID3 methods applied to 1.0 m capped downhole assay composites within lithology domains and internal grade domains. Block model size is 5 m x 5 m x 5m with 2.5 m x 2.5 m x 2.5 m sub-blocks. Mineral resources are reported inside an optimized pit shell, underground mineral reserves at ELD within the El Limón pit shell have been excluded from the open pit mineral resources. Average metallurgical recoveries are 89% Au, 30% Ag, and 15% Cu. The dataset allowed the bulk density to be directly estimated into the domains with an average bulk density of 3.4 g/cm 3. ELG Open Pit AuEq = Au (gpt) + (Ag (gpt) * 0.0045) + (Cu (%) * 0.2627), accounting for underlying metal prices and metallurgical recoveries. About the Los Reyes Gold and Silver Project Los Reyes is a high-grade, low-sulphidation epithermal gold-silver project located in Sinaloa State, Mexico. On October 15, 2024, Prime announced an updated multi-million-ounce high-grade open pit and underground resource based on exploration drilling up to July 17, 2024. Since acquiring Los Reyes in 2019, Prime has spent more than $64 million on direct exploration activities and has completed over 221,000 metres of drilling to date. On January 28, 2025, drilling was paused in response to a deterioration in the security situation in parts of Sinaloa, including the Los Reyes area. Drill rigs remain on site and drill contractors are on standby to resume drilling as soon as security improves. Prime will continue to work with local authorities to monitor the current situation. Open Pit Resource estimates are based on economically constrained open pits generated using the Hochbaum Pseudoflow algorithm in Datamine's Studio NPVS and the following optimization parameters (all dollar values are in US dollars): $1,950/ounce gold price and $25.24/ounce silver price. Mill recoveries of 95.6% and 81% for gold and silver, respectively. Heap leach recoveries of 73% and 25% for gold and silver, respectively. Pit slopes by area ranging from 42-47 degrees overall slope angle. 5% ore loss and 5% dilution factor applied to the 5 x 5 x 5m open pit resource block models. Mining costs of $2.00 per tonne of waste mined and $2.50 per tonne of ore mined. Milling costs of $16.81 per tonne processed. Heap Leach costs of $5.53 per tonne processed. G&A cost of $2.00 per tonne of material processed. 3% royalty costs and 1% selling costs were also applied. A 0.17 g/t gold only cutoff was applied to ex-pit processed material (which is above the heap-leaching NSR cutoff). Underground Resource estimates are based on economically constrained stopes generated using Datamine's Mineable Shape Optimizer (MSO) algorithm and the following optimization parameters (all dollar values are in US dollars): $1,950/ounce gold price and $25.24/ounce silver price. Mill recoveries of 95.6% and 81% for gold and silver, respectively. Mechanized cut and fill mining with a $60.00 per tonne cost. Diluted to a minimum 4m stope width with a 98% mining recovery. G&A cost of $4.00 per tonne of material processed. Milling costs of $16.81 per tonne processed. 3% royalty costs and 1% selling costs were also applied. Where mentioned, 'residual open pits' assumes that any underground stopes are backfilled with zero grade material at two-thirds of the original rock density. Economic-constrained open pits are then estimated with this mined-out, backfilled material in the open pit block selective mining unit ('SMU') model and assuming the resource parameters above. Mineral Resources are not Mineral Reserves (as that term is defined in the CIM Definition Standards) and do not have demonstrated economic viability. Refer to the Additional Notes section for further information. Drilling and geological interpretation suggests that the three known main deposit areas (Guadalupe, Central and Z-T) are larger than previously reported. Potential also exists for new discoveries where mineralized trends have been identified outside of the currently defined resource areas. Historic operating results indicate that an estimated 1 million ounces of gold and 60 million ounces of silver were recovered from five separate operations at Los Reyes between 1770 and 1990. Prior to Prime's acquisition, recent operators of Los Reyes had spent approximately US$20 million on exploration, engineering, and prefeasibility studies. QA/QC Protocols and Sampling Procedures Drill core at the Los Reyes project is drilled in predominantly HQ size (63.5 millimetres 'mm'), reducing to NQ (47.6 mm) when required. Drill core samples are generally 1.50 m long along the core axis with allowance for shorter or longer intervals if required to suit geological constraints. After logging intervals are identified to be sampled, the core is cut and one half is submitted for assay. Sample QA/QC measures include unmarked certified reference materials, blanks, and field duplicates as well as preparation duplicates are inserted into the sample sequence and make up approximately 8% of the samples submitted to the laboratory for each drill hole. Samples are picked up from the Project by the laboratory personnel and transported to their facilities in Durango or Hermosillo, Mexico, for sample preparation. Sample analysis is carried out by Bureau Veritas and ALS Labs, with fire assay, including over limits fire assay re-analysis, completed at their respective Hermosillo, Mexico laboratories and multi-element analysis completed in Vancouver, Canada. Drill core sample preparation includes fine crushing of the sample to at least 70% passing less than 2 mm, sample splitting using a riffle splitter, and pulverizing a 250 gram split to at least 85% passing 75 microns. Gold in diamond drill core is analyzed by fire assay and atomic absorption spectroscopy of a 30 g sample (code FA430 or Au-AA23). Multi-element chemistry is analyzed by 4-Acid digestion of a 0.25-gram sample split (code MA300 or ME-ICP61) with detection by an inductively coupled plasma emission spectrometer for a full suite of elements. Gold assay techniques FA430 and Au-AA23 have an upper detection limit of 10 g/t. Any sample that produces an over-limit gold value via the initial assay technique is sent for gravimetric finish via method FA-530 or Au-GRA21. Silver analyses by MA300 and ME-ICP61 have an upper limit of 200 g/t and 100 g/t, respectively. Samples with over-limit silver values are re-analyzed by fire assay with gravimetric finish FA530 or Au-GRA21. Both Bureau Veritas and ALS Labs are ISO/IEC accredited assay laboratories. Additional Notes Prime's MRE as of October 15, 2024 is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (' CIM ') 'CIM Definition Standards - For Mineral Resources and Mineral Reserves' adopted by the CIM Council (as amended, the ' CIM Definition Standards ') and in accordance with the requirements of NI 43-101. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Metres is represented by 'm'; 'etw' is Estimated True Width and is based on drill hole geometry or comparisons with other on-section drill holes; 'Au' refers to gold, and 'Ag' refers to silver; 'g/t' is grams per metric tonne; some figures may not sum due to rounding; Composite assay grades presented in summary tables are calculated using a Au grade minimum average of 0.20 g/t or 1.0 g/t as indicated in 'Au Cut-off' column of Summary Tables. Maximum internal waste included in any reported composite interval is 3.00 m. The 1.00 g/t Au cut-off is used to define higher-grade 'cores' within the lower-grade halo. Additional details are available in the associated Technical Report with effective date of October 15, 2024, filed on November 27, 2024 with amended filing on June 27, 2025. QUALIFIED PERSONS The mineral resource estimate for Torex's Morelos Complex was prepared by Rochelle Collins, Principal, Mineral Resource Geologist with Torex, who is a 'qualified person' as defined by NI 43-101. The scientific and technical information in this press release pertaining to the mineral resources of Prime Mining has been reviewed and approved by Scott Smith, Executive Vice President of Exploration with Prime Mining, who is a 'qualified person' as defined by NI 43-101. CAUTIONARY NOTES ON FORWARD-LOOKING STATEMENTS This press release contains 'forward-looking statements' and 'forward-looking information' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation, including statements regarding the plans, intentions, beliefs and current expectations of Torex and Prime Mining with respect to future business activities and operating performance. Forward-looking statements are statements that are not historical facts which address events, results, outcomes, or developments that Torex or Prime Mining expect to occur. Forward-looking statements are statements that are not historical facts and are often identified by words such as "expect", "plan", "anticipate", "project", "target", "potential", "schedule", "forecast", "budget", "estimate", "intend" or "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur, and include information regarding: the Transaction, including the timing, satisfaction of closing conditions, consummation and terms of the Transaction, including the consideration thereunder and benefits derived therefrom; the perceived merit of Prime Mining's properties, including additional exploration potential of Los Reyes; the anticipated significant free cash flow generation as Media Luna continues to ramp up operations; the proposed acquisition of Reyna Silver; potential quantity and/or grade of minerals; the potential size of the mineralized zone; metallurgical recoveries; Torex's and Prime Mining's exploration and development plans in Mexico; and Torex's key strategic objectives, which are: deliver Media Luna to full production and build EPO; optimize Morelos production and costs; grow reserves and resources; disciplined growth and capital allocation; retain and attract best industry talent; and industry leader in responsible mining. Forward-looking statements are based on the beliefs, estimates and opinions of Torex and Prime Mining management on the date the statements are made. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding the price of gold, silver and copper; the accuracy of mineral resource estimations; that there will be no material adverse change affecting Prime Mining or its properties; that all required approvals will be obtained, including concession renewals and permitting; that political and legal developments will be consistent with current expectations; that currency and exchange rates will be consistent with current levels; and that there will be no significant disruptions affecting Prime Mining or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements also involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of mineral resource estimates, including but not limited to changes to the cost assumptions, variations in quantity of mineralized material, grade or recovery rates, changes to geotechnical or hydrogeological considerations, failure of plant, equipment or processes, changes to availability of power or the power rates, ability to maintain social license, changes to interest or tax rates, changes in project parameters, delays and costs inherent to consulting and accommodating rights of local communities, environmental risks, title risks, including concession renewal, commodity price and exchange rate fluctuations, risks relating to COVID-19 and other future pandemics, delays in or failure to receive access agreements, on-going receipt of amended and/or operating permits, risks inherent in the estimation of mineral resources; and risks associated with executing Torex's and Prime Mining's objectives and strategies, including costs and expenses, physical access to the property, security risks, availability of contractors and skilled labour, as well as those risk factors discussed in the Torex Technical Report, Prime Mining Technical Report, Torex's and Prime Mining's respective annual information forms, Torex's financial statements and related MD&A for the financial year ended December 31, 2024, and Prime Mining's financial statements and related MD&A for the financial year ended December 31, 2024, all filed with the securities regulatory authorities in certain provinces of Canada and available under each of Torex's and Prime Mining's respective profile at The risk factors are not exhaustive of the factors that may affect Torex's and Prime Mining's forward-looking statements. Torex's and Prime Mining's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management of Torex and Prime Mining at such time. Torex and Prime Mining do not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements. Neither Torex nor Prime Mining undertakes to update any forward-looking information, whether as a result of new information or future events or otherwise, except as may be required by applicable securities laws. The Torex Technical Report, AIF, and financial statement and related MD&A are filed on SEDAR+ at and on Torex's website at The Prime Mining Technical Report, AIF, and financial statement and related MD&A are filed on SEDAR+ at and on Prime Mining's website at This news release has been prepared in accordance with the requirements of the securities laws in effect in Canada, which differ from the requirements of the U.S. securities laws. In particular, and without limiting the generality of the foregoing, the terms 'mineral reserve', 'proven mineral reserve', 'probable mineral reserve', 'inferred mineral resources,' 'indicated mineral resources,' 'measured mineral resources' and 'mineral resources' used or referenced in this presentation are Canadian mineral disclosure terms as defined in accordance with NI 43-101 under the guidelines set out in the CIM Standards. The CIM Standards differ from the mineral property disclosure requirements of the U.S. Securities and Exchange Commission (the ' SEC ') in Regulation S-K Subpart 1300 (the ' SEC Modernization Rules ') under the U.S. Securities Act of 1933, as amended (the ' Securities Act '). As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multijurisdictional disclosure system, Prime Mining is not required to provide disclosure on its mineral properties under the SEC Modernization Rules and will continue to provide disclosure under NI 43-101 and the CIM Standards. Accordingly, Prime Mining's disclosure of mineralization and other technical information may differ significantly from the information that would be disclosed had Prime Mining prepared the information under the standards adopted under the SEC Modernization Rules.
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4 hours ago
- CTV News
World shares advance after EU strikes trade deal with Trump
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, July 28, 2025. (AP Photo/Ahn Young-joon) BANGKOK — Stock markets in Europe and Asia shot higher Monday after the European Union worked out a trade deal with the Trump administration ahead of this week's deadline. U.S. futures and oil prices were higher ahead of trade talks in Stockholm between U.S. and Chinese officials. Germany's DAX gained 0.6% to 24,359.81, while the CAC 40 in Paris advanced 0.8% to 7,900.48. Britain's FTSE 100 picked up 0.3% to 9,148.34. The agreement between the EU and U.S. President Donald Trump calls for 15% tariffs on most EU exports to the U.S. Before Trump began ramping up tariffs, the level was 1%. The deal was announced after Trump and European Commission chief Ursula von der Leyen met briefly at the president's Turnberry golf course in Scotland. It staves off far higher import duties on both sides that might have sent shock waves through economies around the globe. Tokyo's Nikkei 225 index lost 1.1% to 40,998.27 after doubts surfaced over what exactly last week's trade truce between Japan and Trump entails, especially Japan's $550 billion pledge of investment in the U.S. Terms of the deal are still being negotiated and nothing has been formalized in writing, said an official who insisted on anonymity to detail the terms of the talks. The official suggested the goal was for a $550 billion fund to make investments at Trump's direction. Hong Kong's Hang Seng index gained 0.7% to 25,563.32, while the Shanghai Composite index edged 0.1% higher to 3,597.94. Taiwan's Taiex rose 0.2%. CK Hutchison, a Hong Kong conglomerate that's selling ports at the Panama Canal, said it may seek a Chinese investor to join a consortium of buyers in a move that might please Beijing but could also bring more U.S. scrutiny to a geopolitically fraught deal. CK Hutchison's shares fell 0.6% on Monday in Hong Kong. Elsewhere in Asia, South Korea's Kospi climbed 0.4% to 3,209.52, while Australia's S&P/ASX 200 rose 0.4% to 8,697.70. India's Sensex slipped 0.3%. Markets in Thailand were closed for a holiday. On Friday, the S&P 500 rose 0.4% to 6,388.64, setting an all-time for the fifth time in a week. The Dow Jones Industrial Average climbed 0.5% to 44,901.92, while the Nasdaq composite added 0.2%, closing at 21,108.32 to top its own record. Deckers, the company behind Ugg boots and Hoka shoes, jumped 11.3% after reporting stronger profit and revenue for the spring than analysts expected. Its growth was particularly strong outside the United States, where revenue soared nearly 50%. But Intell fell 8.5% after reporting a loss for the latest quarter, when analysts were looking for a profit. The struggling chipmaker also said it would cut thousands of jobs and eliminate other expenses as it tries to turn around its fortunes. Intel, which helped launch Silicon Valley as the U.S. technology hub, has fallen behind rivals like Nvidia and Advanced Micro Devices while demand for artificial intelligence chips soars. Companies are under pressure to deliver solid growth in profits to justify big gains for their stock prices, which have rallied to record after record in recent weeks. Wall Street has zoomed higher on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. Trump has recently announced deals with Japan and the Philippines, and the next big deadline is looming on Friday, Aug. 1. Apart from trade talks, this week will also feature a meeting by the Federal Reserve on interest rates. Trump again on Thursday lobbied the Fed to cut rates, which he has implied could save the U.S. government money on its debt repayments. Fed Chair Jerome Powell has said he is waiting for more data about how Trump's tariffs affect the economy and inflation before making a move. The widespread expectation on Wall Street is that the Fed will wait until September to resume cutting interest rates. In other dealings early Monday, U.S. benchmark crude oil gained 40 cents to $65.56 per barrel. Brent crude, the international standard, added 40 cents to $68.06 per barrel. The dollar rose to 147.85 Japanese yen from 147.71 yen. The euro slipped to $1.1719 from $1.1758. Elaine Kurtenbach, The Associated Press
