Indonesia Slashes Its Nickel Quota, Orla's Mexican Mine Comes Back Online, Pan American Silver Bets $146 Million on Timmins, and Sunshine Silver Closes Its IPO at $310 Million

Today on The Mining Insider: Story 1 — Indonesia Cuts Nickel Ore Quota: Indonesia's energy ministry cut the 2026 nickel ore production quota to 260-270 million metric tonnes — below last year's 320 million tonnes produced and far short of FINI's 340-350 million tonne demand estimate. FINI chairman Arif Perdana Kusuma confirmed smelter capacity utilization has dropped to 76% nationally (from 84%), with some lines in South Sulawesi and Central Sulawesi below 50%. Weda Bay Nickel (Eramet) halted ore production after exhausting its quota at end of May. LME nickel hit $20,000/t on May 6, its highest since May 2024. National Economic Council member Septian Hario Seto: government targets $18,000-$20,000/t range. Story 2 — Orla Mining Camino Rojo Restart: Orla Mining (NYSE: ORLA) filed a 6-K confirming the illegal labor blockade at Camino Rojo in Zacatecas, Mexico has ended and operations have resumed. Bonus negotiations with employees and union are ongoing with Mexican federal labour authority support. 2026 gold production guidance reaffirmed at 110,000-120,000 ounces. Orla is under Equinox Gold's $5.1B acquisition. Story 3 — Pan American Silver Timmins $146M Shaft Extension: Pan American Silver (NYSE/TSX: PAAS) approved a $146M investment for a 625m shaft extension at Bell Creek mine in the Timmins Camp operation in Ontario. New mineral resource discovery also announced. 118,000m drilling program planned in 2026. Updated mineral reserves expected by June 30, 2026. Project reduces haulage distances, ventilation requirements, and CO2 emissions. Story 4 — Sunshine Silver IPO Closes: Sunshine Silver Mining & Refining (NYSE: SSMR) closed its NYSE IPO including full exercise of over-allotment option: 23 million shares at $13.50/share = $310.5M gross proceeds. Trading since June 4. Bookrunners: Morgan Stanley, Scotiabank, BMO, Canaccord, Citi, RBC. Proceeds fund 2028 restart of Idaho Sunshine Mine (Coeur d'Alene District, 360M+ oz historical production, 7.6M oz/year target). Electrum Group retains 50%+. Sources: Mining.com — Indonesia nickel quota (https://www.mining.com/web/indonesian-smelters-cut-production-on-lower-nickel-ore-quota/), Orla Mining 6-K via Stock Titan (https://www.stocktitan.net/sec-filings/ORLA/6-k-orla-mining-ltd-current-report-foreign-issuer-60fb277becee.html), Financial Post on Pan American Silver Timmins (https://intellectia.ai/news/monitor/pan-american-silver-announces-new-mineral-resource-discovery-and-investment-plan), PR Newswire — Sunshine Silver IPO close (https://www.prnewswire.com/news-releases/sunshine-silver-mining--refining-announces-closing-of-initial-public-offering-including-full-exercise-of-over-allotment-option-302792995.html)