Perseus and Silvercorp are vying for OreCorp’s Nyanzaga gold project in Tanzania, slated to produce 242,000 oz./year over its first decade.

The company is seeking $20 billion from the Panama government through international arbitration.

Support has also come from a report this week that South Korea’s Young Poong Corp. cut production at its Seokpo smelter.

Dundee acquired the smelter in 2010 to secure a processing plant for the complex concentrate from the company’s Chelopech mine in Bulgaria.

Rio's Gladstone operations include its Yarwun and Queensland alumina refineries and its Boyne aluminium smelter.

Smelters compete to treat concentrate but overseas mine disruptions are curbing supply, forcing them to drop their fees.

The cobalt and nickel producer has axed or made part-time 30% of its senior corporate management roles.