ASX-listed Tungsten Mining has signed a nonbinding memorandum of understanding (MoU) with China’s Xiamen Tungsten Company (XTC) over the Mt Mulgine project, in Western Australia.
Under the MoU, the two companies will work to establish an offtake agreement under which XTC would purchase tungsten and molybdenum concentrate from the Mt Mulgine project, as well as Tungsten Mining’s potential use of XTC’s beneficiation technology.
The Nigerian Ministry of Mines and Steel Development has granted ASX-listed Kogi Iron an additional mining lease covering some 4 km2.
The lease is valid for a period of 25 years, and is renewable, Kogi told shareholders on Friday.
The Dalgaranga gold project, in Western Australia, is on scheduled for first gold production in the second quarter of 2018, with the project currently on budget, ASX-listed Gascoyne Resources said on Friday.
The design and engineering of the 2.5-million-tonne-a-year processing plant was about 91% complete, while construction of the tailings storage facility was 75% complete.
Junior Explaurum on Friday told shareholders that its Tampia gold project, in Western Australia, could require a capital investment of about A$95-million to recover 500 000 oz of gold over a six-year mine life.
A scoping study into the project found that a single openpit mining operation, processing at a rate of 1.5-million tonnes a year, could deliver 94 000 oz/y of gold in the first five years of operation.
A definitive feasibility study (DFS) into the Yaouré gold project, in Cote d’Ivoire, has estimated that the project could deliver some 1.36-million ounces of gold over an eight-and-a-half year mine life.
ASX and TSX-listed Perseus Mining on Friday announced the results of the DFS, which stated that Yaouré would produce 215 000 oz/y over its first five years of operations, with life-of-mine (LoM) average all-in site costs estimated at $759/oz.
ASX-listed zinc developer New Century Resources will raise A$52.9-million through a share placement to progress the restart of its Century zinc mine, in Queensland.
The company will place some 44-million new shares to institutional and sophisticated investors, priced at A$1.20 each, to raise the capital. The placement represents a 10.4% discount to the company’s last closing price, and a 15.7% discount to the five-day volume-weighted average price of New Century shares.
Gold miner Sibanye-Stillwater on Friday confirmed that it had received formal notification that the State investment arm, the Public Investment Corporation (PIC), has acquired a stake in the JSE-listed firm. The total interest held by the PIC amounts to just under 10.83% of the total issued shares of Sibanye.
A preliminary economic assessment (PEA) has revealed the potential for the development of an underground mine at Karowe, in Botswana, TSX-listed Lucara Diamond said on Friday. The Vancouver-based diamond producer is considering the development and commissioning of an underground mine after the depletion of the current openpit Karowe mine operations, expected in 2026.
The Kyrgyzstan government has cancelled the suspension of operations at the Bozymchak mine and full production has resumed, KAZ Minerals reported on Friday.
The London-listed company announced on Thursday that the government had suspended operations at the gold and copper mine for three months. Kaz Minerals said that it believed that Bozymchak complied with its obligations and that it was in discussions with officials to resume operations.
Diamond miner Alrosa has netted $9-million in the special-size rough diamond auction that was held at its branch in Vladivostok in late October.
The company sold 66 stones with a total weight of 1 084 ct. Alrosa said the most expensive diamond was a 40.47 ct stone that sold for more than $1-million.
The board of platinum mining company Lonmin has decided to extend the date of the publication of its 2017 financial results to afford management the opportunity to give undivided attention to the group’s operational review, which is targeting a viable business plan based on the possible raising of new debt capital, continued lender support and the potential disposal of assets. The company’s decision to extend its reporting date to beyond November 13 coincides with an improved production performance by the resilient London- and Johannesburg-listed company, which has lifted sales for the financial year to September 30 to 706 030 oz, well above guidance of between 650 000 oz and 680 000 oz.
Democratic Republic of Congo’s State mining company failed to internally register $740-million in income between 2011-2014, much of which is now untraceable, the Carter Center said in a report on Friday. The amount makes up two-thirds of the $1.1-billion that the copper producer was entitled to collect from international mining partners during that period and there is no evidence how half of it was spent, the U.S.-based democracy watchdog said.
ASX- and JSE-listed Orion Minerals on Friday issued the first tranche of shares as part of a two-tranche capital raising. The company aims to raise $5.5-million at an issue price of 2.4c an ordinary fully paid share to fund the resource drilling campaign at the Prieska zinc/copper project, to continue exploration programmes on its Northern Cape tenements and for general working capital purposes.
Encouraging third-quarter operational results have translated into an improved financial performance for dual-listed Asanko Gold. The Canadian junior miner on Friday reported a 21% quarter-on-quarter increase in cash flow from its operations to $40.7-million.
Rwandan economic growth is expected to accelerate this year and next as the outlook for industries including financial services, tourism and mining improves, President Paul Kagame said. The pace of expansion is expected to increase to 7% next year from about 6% this year, Kagame said Thursday in an interview in Dubai. That compares with 2016’s growth rate of 5.9%, which was a three-year low. Output already increased in the second and third quarters after slowing last year when infrastructure projects were completed, he said.
Argentina is seeking new markets for its aluminium exports as the US probes the national security implications of imports of the metal, an executive at Aluar Aluminio Argentino, the country’s leading producer, told Reuters.
Aluar commercial director Miroslavo Puches said the company was planning to boost shipments to Brazil to 100 000 t/y by 2019 from 60 000 t/y currently, as the neighbouring country’s economy recovers. It is also hoping to expand exports to Asia from the current 60 000 t/y, he said.
Exploration company Integra Resources has closed the cash-and-scrip acquisition of its flagship DeLamar gold and silver project, in Southern Idaho, from a subsidiary of Kinross Gold, it advised on Friday.
Under terms of the acquisition, Integra paid Kinross C$7.5-million in cash and issued 5.55-million shares, giving Kinross a 9.9% stake in the junior explorer.
The Chinese government has awarded a major contract to build a 12 MWh vanadium-flow battery as Phase 1 of a larger 40 MWh energy storage project, in Hubei province privately held clean technology innovator Pu Neng Energy.
This first phase will be installed in Zaoyang, Hubei, to integrate a large solar photovoltaic system into the grid. Following this 10 MW, 40MWh project, there will be a larger 100 MW, 500 MWh energy storage project that will be the cornerstone of a new smart energy grid in Hubei province.
Uranium explorer and development company Denison Mines has extended the new high grade unconformity-hosted mineralisation up-dip and about 250 m along strike to the northeast of the Gryphon deposit, which is part of the 60%-owned Wheeler River uranium project, in the Athabasca Basin of Northern Saskatchewan.
The Toronto-based company said it has completed a 30-hole drilling campaign over the summer months totalling 12 466 m, which has returned preliminary radiometric equivalent grades (eU3O8) from drill hole WR-670D2 of 4.3% over an interval of 4.3 m, from mineralisation occurring immediately above the sub-Athabasca unconformity.
Junior miner Metanor Resources has reported a significant intercept grading 4.6 g/t gold at its Bachelor gold mine, located 90 km northeast of Lebel-sur-Quevillon, Quebec.
The Val d’Or, Quebec-based miner started an underground drilling campaign in September on Level 11 to the south from the main mine workings. The exploration intersected the Moroy structure, and assays from the first two holes have revealed a pair of veins 50 m apart.
Quebec diamond miner Stornoway Diamond Corp has reported strong operating results for the third quarter ended September, with diamond output and the Renard mine’s grade performing above plan.
Stornoway sold a total of 405 643 ct during the quarter in two tender sales with gross proceeds of C$48.1-million at an average price of C$119/ct. These amounts exclude 32 989 ct included in the final tender of the quarter, but for which revenue will be recognised in the fourth quarter as proceeds from the sale were not received before quarter end.
After fielding more questions about her decision to step back from supporting the NAIF loan sought by Adani, in the wake of revelations her partner was involved in the application, the Premier said the election boils down to integrity.
Queensland Premier Annastacia Palaszczuk’s decision to not support a concessional Federal Government loan for the Adani coal mine could halt the multi-billion-dollar project, Northern Australia Minister Matt Canavan says.
ST. CATHARINES, Ontario–(BUSINESS WIRE)–$ALC–Algoma Central Corporation (TSX: ALC) (“Algoma” – www.algonet.com), a leading provider of marine transportation services, today announced its results for the quarter ended September 30, 2017. “We are very pleased with the results for our third quarter and particularly the sustained strength in our Domestic Dry-Bulk business,” said Ken Bloch Soerensen, Algoma CEO. “We have taken steps to position ourselves to take advantage of improving markets in our co
CHICAGO–(BUSINESS WIRE)–Coeur Mining, Inc.’s (“Coeur” or the “Company”) (NYSE: CDE) Senior Vice President and Chief Financial Officer, Peter C. Mitchell, will present at Baird’s 2017 Global Industrial Conference in Chicago, Illinois on Tuesday, November 7, 2017 at 3:30 p.m. Central Time. Baird’s Global Industrial Conference is an invitation-only investment conference. The presentation will be made available on the Company’s website at www.coeur.com. About Coeur Coeur Mining, Inc. is a well-di
LONDON–(BUSINESS WIRE)–#Automation–According to the latest market study released by Technavio, the global power transmission seals market is set to grow at a CAGR of over 3% until 2021.
DUBLIN–(BUSINESS WIRE)–The “Synthetic Quartz Market by Type (Synthetic Quartz Crystal, Synthetic Quartz Glass), Application (Electronics & Electrical, Automotive, Construction), Region – Global Forecast to 2022” report has been added to Research and Markets’ offering. The synthetic quartz market is projected to reach USD 95.0 million by 2022, at a CAGR of 5.6% from 2017 to 2022 A key driving factor for the growth of the synthetic quartz market across the globe is the increased demand for
DUBLIN–(BUSINESS WIRE)–The “Global Molybdenum Market – Segmented based on End-User and Geography – Trends and Forecasts (2017 – 2022)” report has been added to Research and Markets’ offering. Molybdenum, a byproduct of copper mining, is a silver-white shiny metal with reminiscent of tin, and light-weighted as compared to tungsten. The element is hard, tough, and strong, with a low degree of thermal expansion. Molybdenum furnace linings protect the high-temperature furnaces against heat radiat
CARNEGIE, Pa.–(BUSINESS WIRE)–Ampco-Pittsburgh Corporation (NYSE: AP) announced today that its subsidiary, Union Electric Steel Corporation (“Union Electric Steel”), will implement an electrode and refractory surcharge on all forged rolls that it and its subsidiaries produce globally. These subsidiaries include the acquired companies formerly comprising the Åkers Group (“Åkers”). This temporary surcharge is effective for all orders to be melted on or after January 1, 2018, and for all new quo
Premier Annastacia Palaszczuk drops a bombshell, announcing she will veto the Queensland Government’s involvement in the Northern Australia Infrastructure Fund, which is considering given $50 billion to the Adani Carmichael coal mine.
LIMA, Peru–(BUSINESS WIRE)–Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced that members of the local Oyon community have adopted a more aggressive negotiating position related to Buenaventura’s use of lands by its Uchucchacua mine. This act does not acknowledge an agreement previously established between the Oyon community and Buenaventura, which was
HOUSTON–(BUSINESS WIRE)–DXP Enterprises, Inc. (NASDAQ: DXPE) today announced financial results for the third quarter ended September 30, 2017. The following are results for the three and nine months ended September 30, 2017 compared to the three and nine months ended September 30, 2016 and three months ended June 30, 2017, where appropriate. A reconciliation of the non-GAAP financial measures is in the back of this press release. DXPE 2017 Third Quarter Financial Highlights: Sales increased 9
FORBACH, France–(BUSINESS WIRE)–Regulatory News: La Française de l’Energie (Paris:LFDE) annonce avoir mis à la disposition du public et déposé auprès de l’Autorité des Marchés Financiers (AMF) son rapport financier annuel pour l’exercice 2016/2017. Il comprend notamment les rapports des commissaires aux comptes ainsi que les comptes de l’exercice clos le 30 juin 2017 qui ont été définitivement arrêtés par le Conseil d’Administration du 31 octobre 2017. Lors de l’exercice 2016/2017 le Groupe a
