COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company announced second quarter 2017 financial and operating results.
Vedanta Resources, the UK-listed Indian mining and energy group, is marketing a new issue of US dollar bonds to refinance outstanding debt. Vedanta is offering seven-year bonds, callable after four years, to yield around 6.375%, according to a term sheet.
A trade union said on Wednesday that it will press Indonesia’s government to reinstate thousands of striking workers at Freeport-McMoRan Inc’s Grasberg mine when union officials visit the Southeast Asian country next week. IndustriALL Global Union said in an emailed statement that it would formally announce plans on Thursday for its mission to support striking workers at Grasberg, the world’s second-largest copper mine, and a smelter jointly owned and operated by Freeport and Mitsubishi Materials.
Calls for Western Australia to be given more than $300 million in federal funding set aside for the failed Oakajee port and rail project almost a decade ago are rejected by Treasurer Scott Morrison, who says the money is “not transferable”.
Uranium miner Energy Resources of Australia (ERA) has narrowed its loss during the half-year ended June, compared with the previous corresponding period.
The ASX-listed miner on Wednesday reported a loss of A$0.5-million for the interim period, compared with a loss of A$196.5-million in the first six months of 2016.
Rare earths developer Hastings Technology Metals has signed its first offtake memorandum of understanding (MoU) for its Yangibana project, in Western Australia.
Under the MoU with Baotou Sky Rock Rare Earths New Material, Hastings could sell some 2 500 t/y of mixed rare-earth carbonate.
Gold miner Saracen Mineral Holdings has reported a 40% growth in its reserves, underpinning a mine life of seven years at its Western Australian assets.
The company on Wednesday announced a total ore reserve of 2.1-million ounces, despite a depletion of 293 000 oz from mining.
ASX-listed Crusader Resources has entered into a conditional sales agreement to divest of its Posse iron-ore mine, in Minas Gerais.
Crusader on Wednesday told shareholders that Inter Invest would pay some A$3.2-million for the asset over a 17-month period, with the sale conditional on Crusader receiving a first payment of A$400 000 by August 10.
Diversified major Rio Tinto has nearly doubled its half-year net profit and announced a total cash return of $3-billion to shareholders.
The group’s net earnings soared 95% from $1.7-billion to $3.3-billion and the miner generated operating cash flow of $6.3-billion.
Gold developer Azumah Resources has inked a term sheet with private equity group Ibaera Capital worth A$17-million, over its Wa gold project, in Ghana.
Under the terms of the agreement, Ibaera will invest the funds to acquire a 47.5% interest in the Wa project area.
SCHAUMBURG, Ill.–(BUSINESS WIRE)–GLOBAL BRASS AND COPPER HOLDINGS, INC. REPORTS INCREASE IN DIVIDEND AND SECOND QUARTER 2017 FINANCIAL RESULTS
COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company provides an update on its exploration programs for the second quarter 2017.
COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company announced it has reached an agreement to lease the Velardeña mill for an additional 24 months.
ASX-listed Yancoal on Wednesday announced a $2.5-billion capital raise to fund the acquisition of mining major Rio Tinto’s Coal & Allied assets.
Yancoal told shareholders that the company would launch a 23.6-for-1 pro-rata renounceable entitlement offer, priced at 10c each, to raise the funds.
SX-listed Energia’s rights offer to raise A$3.13-million has closed oversubscribed, which CEO Alexander Burns said on Wednesday showed that its shareholders endorsed the company’s strategy for the Gorno project, in Italy.
“The rights issue proceeds will leave us well positioned to advance this high-value zinc project with the added benefit of the latest encouraging exploration results and in time for a forecast global supply shortage of the metal,” he commented in a statement.
Zimbabwe has filed a court application to enforce a previous notice to seize more than half of platinum producer Zimplats’ mining land, the company said on Wednesday. Zimplats, which is majority controlled by Impala Platinum in January said President Robert Mugabe’s government had made a fresh bid to compulsorily acquire 27 948 ha of its mining ground, which the company opposed.
The most-expensive diamond ever polished in Russia will be shown in Moscow as part of a collection of gems named after the dynasties of the Romanov-era Imperial Court.
In 2015, Alrosa discovered a giant, 179-ct rough diamond in a mine in the northeast region of Sakha, naming it Romanov after the family that ruled for more than 300 years before the Russian Revolution.
Mexican miner and metals processor Industrias Penoles on Tuesday posted a more than 400% year-on-year jump in its second-quarter profit, helped by better metals prices, higher sales and far lower financial costs. The company, which runs the world’s largest primary silver producer, Fresnillo, made 3.22-billion pesos ($177.64-million) in profit during the three-month period, up from 639.3-million pesos in the same quarter of 2016.
West Africa-focused Endeavour Mining produced 310 923 oz of gold in the first six months of this year, a 19% year-on-year increase, mainly as a result of increased output at the Karma mine, in Burkina Faso, and asset optimisation work undertaken at the Tabakoto mine, in Mali, and the Nzema mine in Ghana. The Karma mine produced 56 000 oz of gold in the first half of this year, compared with 12 000 oz in the prior comparable period, while the Tabakoto mine’s output increased to 84 000 oz from 78 000 oz in the prior comparable period.
TSX- and NYSE-listed silver miner and explorer Great Panther Silver has appointed Jim Bannantine president and CEO, following the resignation of Robert Archer, who announced his intention to step down this year in April. “Jim brings a record of exceptional leadership, growing companies and deep experience in Latin America,” stated Great Panther board chairperson Bob Garnett, who added that he was looking forward to working with Bannantine as Great Panther executes its near-term growth strategy to become a midtier producer.
Dual-listed Pallinghurst Resources on Wednesday confirmed the closing of acceptances for its acquisition of coloured gemstones mining and marketing company Gemfields. The diversified mining company will now seek to contact any Gemfields shareholders who have not yet accepted the offer in terms of Pallinghurst’s right to acquire all remaining Gemfields shares.
TSX-listed explorer Fission Uranium has intersected the widest mineralisation and some of the strongest radioactivity to date at its Patterson Lake South property in Canada’s Athabasca basin, following the results of an additional two holes drilled to test the recently discovered, land-based R1515W zone – 1.5km west of the Triple R deposit. Hole PLS17-564 (line 1545W) intersected 135.5 m total composite mineralisation, including 8.25 m total composite.
TSX-V-listed exploration company Radius Gold has completed the sale of its Tlacolula property, in Mexico, to TSX-listed Fortuna Silver Mines for $150 000 cash, about 240 000 Fortuna common shares and a 2% net smelter return royalty on the property.
TSX- and NYSE-listed Osisko Gold Royalties has acquired a high-quality precious metals portfolio of assets comprising 74 royalties, streams and precious metal offtakes from Orion Mine Finance Group, in exchange for $675-million and about 31-million shares in Osisko. Osisko now holds a total of 131 royalties, streams and precious metal offtakes, including its cornerstone 5% net smelter return (NSR) royalty on long-life Canadian Malartic gold mine – Canada’s largest producing gold mine – and a 2% to 3.5% NSR royalty on the world-class Éléonore gold mine.
India’s top court has directed the government to revise the National Mineral Policy by December at the latest to more effectively regulate the mining industry and stop illegal activity.
A two-judge Supreme Court panel, led by M.B. Lokur, said the policy effective from 2008 “seems to be only on paper and is not being enforced perhaps due to the involvement of very powerful vested interests or a failure of nerve”.
DUBLIN–(BUSINESS WIRE)–The “Global Metal Heat Treatment Market 2017-2021” report has been added to Research and Markets’ offering. The analysts forecast the global metal heat treatment market to grow at a CAGR of 5.77% during the period 2017-2021. Global Metal Heat Treatment Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a
De Beers has appointed Ann Cormack executive head of human resources, David Prager executive VP of corporate affairs and Nancy Liu COO of Forevermark. Cormack will succeed Arthur Hewett as human resources executive head, as of October 2017.
The South African government must introduce stringent anti-emission legislation as well as press for the platinum equivalent of the gold Kruger Rand, Royal Bafokeng Platinum CEO Steve Phiri insists. Phiri expressed dismay at the government, as custodian of the world’s major platinum endowment, taking zero steps to do what the rest of the world is doing in fields of platinum-catalysed vehicle emission control and platinum coin minting at a time when 70% “or more” of the South African platinum industry is unprofitable.
Australia may need to consider delaying its goals to combat global climate change in order to prioritise energy security and economic prosperity, according to a senior executive at Glencore.
The country’s emerging energy crisis, in conjunction with government-imposed clean-energy targets, has undermined investor confidence and may force businesses to shut or move offshore, the commodity giant’s global coal head, Peter Freyberg, said in a speech Wednesday in Sydney.
DENVER–(BUSINESS WIRE)–Solitario releases robust economics from the Preliminary Economic Assessment on the Florida Canyon Zinc Project in Peru.
Miner Rio Tinto is making good progress in the deal to sell its stake in the Simandou project in Guinea, Chief Financial Officer, Christopher Lynch said on Wednesday. Citing the complexity of the deal due to three parties being involved, he said discussions were still underway.
Kosmos Energy, which is exploring for gas offshore Senegal and Mauritania with oil major BP, will list on the LSE by the end of September in a bid to attract more European investors, it said on Wednesday. Kosmos, which has been listed in New York since 2011, announced a major gas find in partnership with BP off the coast of Senegal in May, boosting the area’s reputation as one of the world’s hotbeds for gas exploration.
IRVING, Texas–(BUSINESS WIRE)–#mining–Fluor Selected for BHP’s South Flank Mining Project in Australia
TUCKER, Ga.–(BUSINESS WIRE)–GMS Inc. (NYSE:GMS), a leading North American distributor of gypsum wallboard and suspended ceiling systems, announced today the acquisition of the Michigan-based ASI Building Products, LLC. (“ASI”). Founded in 1988, ASI is a leading provider of ceilings and other quality building products serving the Eastern Michigan market through three locations: Saginaw, Southfield and Detroit. ASI distributes interior building products for residential and commercial projects o
The increased production of higher-value ore, improved recoveries and improved metal pricing has positively impacted on Canadian company Sierra Metals’ Corona subsidiary’s results for the half-year. Corona, which is 80% owned by Sierra Metals and which mines for copper, lead, zinc, silver and gold at the Yauricocha mine, in Peru, earned net income of $21.6-million, or $0.60 a share for the six months ended June 30, a 1 046% rise on the net income of $1.9-million, or $0.05 a share, earned in the first half of 2016.
