Ngex Minerals
NGEx Minerals Ltd. is a Vancouver-based, publicly traded copper-gold-silver exploration company advancing the 100%-owned Lunahuasi project in Argentina and the majority-operated Los Helados project in Chile, one of the world's largest undeveloped copper-gold resources, with Lundin Mining as a recent minority partner.
- Company typePublic
- Founded2019
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Ngex Minerals does
NGEx Minerals Ltd. is a Vancouver-based, publicly traded mineral exploration company (TSX:NGEX, OTCMKTS:NGXXF) focused on acquiring and developing copper, gold, and silver properties in the Vicuña District of South America. The company's asset base is anchored by two value drivers: the 100%-owned Lunahuasi copper-gold-silver project in San Juan, Argentina — a high-grade porphyry system where Phase 4 drilling has returned standout intercepts including 335.15m at 4.08% CuEq — and the Los Helados copper-gold project in Chile's Atacama Region, where NGEx operates as majority partner with Lundin Mining now holding a minority stake acquired from JX Advanced Metals in March 2026. Los Helados' indicated resources of 2.08 billion tonnes at 0.40% copper, 0.15 g/t gold, and 1.5 g/t silver place it among the largest undeveloped copper-gold resources globally, and its 17 km proximity to Lundin Mining's Caserones operation provides potential processing synergies. NGEx also holds earlier-stage exploration projects in Argentina (Valle Ancho, Interceptor, Potro Cliffs).
The business model is that of a pre-revenue exploration-stage company: NGEx monetizes optionality on its mineral assets rather than selling goods or services. Capital is raised through private placements (cumulative disclosed private placement funding exceeds C$290M, with a C$175M round in October 2025 oversubscribed and upsized due to institutional demand) and debt facilities (a US$3M credit facility from Zebra Holdings and Lorito Holdings, both Lundin-family vehicles). Distribution channels are not traditional; assets are advanced through drilling, metallurgical, and permitting workstreams and, in some cases, transferred or spun off (e.g., the October 2025 spin-out of LunR Royalties Corp., which holds NSR royalties on NGEx's projects) for separate valuation or monetization. Customers in the conventional sense do not exist; rather, the company engages with major mining companies and joint-venture partners as potential offtakers, processors, or co-developers of the underlying resources.
The company's leadership — Wojtek Wodzicki as President & CEO, with Alex Tong and Jeff Yip serving in CFO roles and Brent Bonney as VP, Corporate Development & Investor Relations — communicates with shareholders primarily through investor relations, press releases, and stock-exchange filings. Environmental approval (DIA) for the Lunahuasi exploration adit, targeted for Q4 2026 underground development, represents the next major project milestone.
Ngex Minerals firmographics
Firmographics- Name
- Ngex Minerals
- Legal name
- NGEx Minerals Ltd.
- Website
- https://ngexminerals.com
- Company type
- Public
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- NGEx Minerals Ltd. is a Vancouver-based, publicly traded copper-gold-silver exploration company advancing the 100%-owned Lunahuasi project in Argentina and the majority-operated Los Helados project in Chile, one of the world's largest undeveloped copper-gold resources, with Lundin Mining as a recent minority partner.
- Ownership category
- akta.pro rank
Ngex Minerals industry classification
Industry- Product category
- Mineral Exploration Services
- NAICS
- Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (21229)
- SIC
- Metal Mining (1000), Gold And Silver Ores (1040)
- akta.pro primary industry
- Coal Exploration & Resource Development (IMAKAIAE)
Keywords
Where Ngex Minerals is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Ngex Minerals business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Supply Chain
Marketing channels2 records
Ngex Minerals product offering
Product offeringCore offering
NGEx Minerals is a Vancouver-based mineral exploration company engaged in acquiring and developing copper, gold, and silver properties in South America. The company's primary value drivers are the 100%-owned Lunahuasi copper-gold-silver project in San Juan, Argentina, and the Los Helados copper-gold project in Chile, where NGEx is the operator and majority partner.
Product overview
NGEx Minerals is a Canadian mineral exploration company engaged in acquiring and developing copper, gold, and silver properties in South America. The company's portfolio consists of two primary value drivers: the 100%-owned Lunahuasi project in Argentina (high-grade discovery upside) and the Los Helados project in Chile (large-scale development optionality with Lundin Mining as minority partner). The company also holds several earlier-stage exploration projects in Argentina (Valle Ancho, Interceptor, Potro Cliffs) and spun out LunR Royalties Corp. in October 2025 to hold net smelter returns royalties on its projects.
Differentiator
Problem solved
Functional benefit
Products and services
- Lunahuasi Project
Quantifiable outcome
- 335.15m at 4.08% CuEq including 19.50m at 18.96% CuEq from drillhole DPDH059
- +2 more outcomes
Companies that use Ngex Minerals
Customer profileSegments2 records
Ideal customer profiles1 record
Ngex Minerals technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Ngex Minerals partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, former and flagship.
- Lundin MiningcoreLundin Mining will become NGEx Minerals' new minority partner at the Los Helados Project in Chile's Region III, acquiring JX Advanced Metals Corporation's 30.9% interest in the Joint Exploration Agreement. The Los Helados deposit is one of the largest undeveloped copper-gold resources globally. NGEx's CEO noted that proximity to Lundin Mining's Caserones operation (17 km away) could provide synergies by potentially processing Los Helados mineralization through Caserones' mill infrastructure.
- JX Advanced Metals CorporationformerJX Advanced Metals Corporation held a 30.9% interest in the Los Helados Joint Exploration Agreement, which is being acquired by Lundin Mining. NGEx Minerals was the operator and majority partner for the Los Helados copper-gold project.
- Nippon Caserones ResourcescoreNGEx Minerals is a major stakeholder in the Los Helados project in Chile, which involves a joint exploration agreement with Nippon Caserones Resources. Los Helados is operated by NGEx as majority partner and is near Caserones, a copper mine acquired by Lundin Mining.
- LunR Royalties Corp.flagshipNGEx Minerals completed a spin-out transaction creating LunR Royalties Corp., which holds net smelter returns (NSR) royalties on NGEx's projects in Chile and Argentina. Adam Lundin was appointed as President & CEO of LunR Royalties. The transaction establishes a significant new player in the royalty space within the mining sector, with NGEx distributing royalties and securities to its shareholders.
Scale indicators7 records
Recent moves8 records
Expansion highlights6 records
Ngex Minerals competitors and assessment
Company assessmentDirect peers
- Filo Corp: Copper-gold exploration company also operating in the Vicuña District of Argentina, with the Filo del Sol project adjacent to NGEx's Lunahuasi. Most direct exploration-stage peer sharing the same geological belt, same management heritage (Lundin family), and same jurisdictional exposure.
- Josemaria Resources: Copper-gold-silver developer with the Josemaria project in San Juan, Argentina — same Vicuña District and same Lundin family lineage. Comparable stage and asset profile, recently progressed toward feasibility, making it a strong like-for-like exploration/development peer.
Broad incumbents
- Lundin Mining: Diversified mid-tier base metals producer and NGEx's strategic partner at Los Helados. Operates Caserones (17 km from Los Helados) and provides processing-synergy optionality. Comparable through copper exposure and shared Lundin family ownership network.
- Capstone Copper: Mid-tier copper producer with operations across the Americas (including Chile and Mexico). Comparable through Americas-focused copper exposure and provides a benchmark for what a producing copper developer looks like at NGEx's eventual target state.
- Hudbay Minerals: Copper-gold producer with mines in Canada, Peru, and the US. Comparable through copper-gold porphyry focus and Americas-centric operating footprint, providing a peer for capex and mine-development benchmarking.
- First Quantum Minerals: Major copper producer with significant South American assets (Cobre Panamá, Sentinel, Cueva de las Llaves). Comparable as a large-scale copper miner in the region and a potential acquirer profile for NGEx's advanced assets.
- Newmont Corporation: World's largest gold miner with material copper exposure. Comparable as a benchmark for Tier 1 copper-gold asset valuations and a potential long-term acquirer profile for NGEx's development-stage assets.
- Freeport-McMoRan: Largest publicly traded copper producer globally, with major South American operations (Cerro Verde in Peru, El Abra in Chile). Comparable through copper-centric portfolio and benchmark for resource valuation in the region.
Emerging players
- Solaris Resources: Copper-gold exploration company advancing the Warintza project in Ecuador. Comparable as a well-funded, single-jurisdiction South American copper-gold explorer at a similar development stage, with similar reliance on resource expansion to drive valuation.
Regional players
- Filomena Royalties (LunR Royalties proxy): Junior royalty and streaming companies focused on South American copper-gold assets (e.g., Metalla Royalty, Gold Royalty). Relevant as comparables for the LunR Royalties vehicle spun out from NGEx in October 2025.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Ngex Minerals social profiles
Digital presenceNgex Minerals financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ngex Minerals leadership team
Management profileNumber of profiles
Profiles6 records
Ngex Minerals subsidiaries and ownership
Company hierarchySubsidiaries1 record
Ngex Minerals funding detail
Funding detailFunding overview
Funding rounds6 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ngex Minerals M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ngex Minerals
What does Ngex Minerals do?
NGEx Minerals is a Vancouver-based mineral exploration company engaged in acquiring and developing copper, gold, and silver properties in South America. The company's primary value drivers are the 100%-owned Lunahuasi copper-gold-silver project in San Juan, Argentina, and the Los Helados copper-gold project in Chile, where NGEx is the operator and majority partner.
Is Ngex Minerals a public or private company?
Ngex Minerals is a public company. It is classified as public and is currently operating.
When was Ngex Minerals founded?
Ngex Minerals was founded in 2019. It employs 11 to 50 people.
Where is Ngex Minerals based?
Ngex Minerals is headquartered in Vancouver, Canada, in the North America region.
Who are Ngex Minerals's main competitors?
Direct peers on record are Filo Corp and Josemaria Resources. Broad incumbents are Lundin Mining, Capstone Copper, Hudbay Minerals, First Quantum Minerals, Newmont Corporation and Freeport-McMoRan. Solaris Resources is listed as an emerging player. Filomena Royalties (LunR Royalties proxy) is listed as a regional player.
Does Ngex Minerals have an API?
No public API is recorded for Ngex Minerals.
What industry is Ngex Minerals in?
Ngex Minerals's product category is Mineral Exploration Services. Its primary akta.pro industry code is IMAKAIAE, Coal Exploration & Resource Development. Its NAICS code is 212230 and its SIC code is 1000.