Base metals producer Taseko’s British Columbia-based Gibralter mine has been temporary idled owing to uncontrolled wildfires in the mine’s immediate vicinity. In response to the severe wildfire conditions, the company had already scaled back mining and milling operations at the mine. An evacuation order has been issued for Williams Lake and several other smaller communities in the region.
The two remaining components of Randgold Resources’ Kibali gold mine – its underground shaft system and a third hydropower plant – are both on track. The underground shaft system is expected to be commissioned this quarter, with the underground mine to produce about 2.2-million tonnes of ore this year.
Dual-listed Platinum Group Metals (PTM) has suspended active mining at its Maseve mine, in the North West province, as it transitions the operation to a more hybrid mining method with a smaller labour force. Over the next few weeks, PTM will be focused on restructuring the mine’s contractor activity and labour and undertaking equipment and mobile machinery maintenance and underground infrastructure improvements.
Second-quarter production at Turquoise Hill Resources’ Oyu Tolgoi gold/copper mine, in Mongolia, proceeded as planned and remained steady quarter-on-quarter, the Vancouver-based miner revealed on Monday. Ore treated in the quarter was impacted by a scheduled five-day maintenance shutdown in May, which was successfully completed, said Turquoise Hill CEO Jeff Tygesen in a statement.
ASX-listed gold developer Bassari Resources has told shareholders that the company had negotiated a term sheet with the Senegal division of Coris Bank International to bring the Makabingui gold project into production.
The $12-million funding facility will have an interest rate of 9% a year.
Lithium developer Pilbara Minerals has reported significant shareholder support for a recent share purchase plan (SPP), with the miner raising more than A$25-million.
This was significantly more than the A$15-million initially targeted by the SPP, which was launched in June this year.
In the two decades since billionaire mining investor Robert Friedland founded Ivanhoe Mines, his small team has made some of the biggest mineral discoveries in the world. In the Democratic Republic of Congo, it has done so while trading and contracting with companies controlled by one of President Joseph Kabila’s brothers, searches of thousands of pages of Congolese corporate records obtained by Bloomberg show.
Vitol Group, the world’s largest independent oil trader, walked away from a deal to buy a stake in the Richards Bay Coal Terminal from a company controlled by South Africa’s Gupta family. “The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the commodities-trading house said in a statement on Monday.
If the Northern Territory town of Jabiru, near Kakadu National Park, is to stay afloat after the Ranger uranium mine ceases to operate, decisions will need to be made soon to avoid the loss of essential services, infrastructure and people, a report commissioned by Energy Resources of Australia warns.
TORONTO–(BUSINESS WIRE)–Americas Silver Corporation (TSX: USA) (NYSE “MKT”: USAS) (“Americas Silver” or the “Company”) is pleased to provide a construction update on its 100% owned and fully funded San Rafael development project located in Sinaloa, Mexico. Budget & Timeline Construction commenced in early Q4, 2016 with an estimated initial capital expenditure of US $22 million based on the March 30, 2016, San Rafael pre-feasibility study. The initial capital estimate was subsequently redu
DENVER–(BUSINESS WIRE)–Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) today announced it retired $575 million of principal under its 1.625% convertible senior notes due July 15, 2017. Since 2013, Newmont has streamlined its balance sheet and reduced its gross debt by over 30% and its net debt by nearly 70%. “The full repayment of our Convertible Notes continues the deleveraging and simplification of our balance sheet we began in 2013,” said Nancy Buese, Executive Vice Preside
RENO, Nev.–(BUSINESS WIRE)–#diatomaceousearth–EP Engineered Clays, an affiliate of EP Minerals, acquires bleaching clay and activated clay catalyst assets from BASF
DUBLIN–(BUSINESS WIRE)–The “China Cobalt (Metal/Salt/Powder) Industry PEST Analysis and Top 12 Manufacturers in-depth Survey, 2017 to 2020 Forecast” report has been added to Research and Markets’ offering. The gloomy nickel price in past 5 years resulted in a poor production expanding desire for global major copper and nickel mining companies, which indirectly caused the passive reduction of cobalt ore. It is rarely to find existing main cobalt mines releasing plan of production expanding. In
An independent review has projected an “encouraging” price tag of $1.78/lb of nickel-in-concentrate delivered to Ulak rail station, located on the Baikal Amur rail line, from the potential Kun-Manie nickel-copper sulphide project, in Russia, said Aim-listed Amur Minerals on Monday. The appointed mining consultancy RPMGlobal Asia (RPM) projected all-in operating costs of $24/t of ore to deliver concentrate to the planned Ulak rail station, lower than Amur’s estimated cost of $26/t in the first quarter of 2015.
TSX-listed Giyani Gold has changed its name to Giyani Metals. Giyani Metals will begin trading its shares on the TSX Venture Exchange on Monday and the common shares of Giyani Gold will be delisted.
BHP Billiton’s plan to enter the potash market with a contentious $13-billion project in Canada is adding to challenges facing the incoming chairman of the world biggest mining company.
Ken MacKenzie, a 53-year-old board member who takes up the role in September, currently is on a global tour to meet investors in the wake of an activist campaign in recent months spearheaded by Elliott Management. Issues of concern for some shareholders include the producer’s US onshore oil and gas assets and its plans to accelerate the Jansen potash venture.
Aim-listed gold, copper and silver producer Anglo Asian Mining on Monday reported a decline in production, from 36 729 gold-equivalent ounces in the first half of 2016, to 28 554 gold-equivalent ounces in the first half of this year. The Azerbaijan-focused miner produced 23 218 oz of gold – 18 389 oz contained within gold doré, 9 oz from sulphidisation, acidification, recycling and thickening (Sart) processing and 4 820 oz from flotation – down from the 33 837 oz produced in the prior corresponding period.
TULSA, Okla.–(BUSINESS WIRE)–Alliance Resource Partners, L.P. (NASDAQ: ARLP) and Alliance Holdings GP, L.P. (NASDAQ: AHGP) will report their second quarter 2017 financial results before the market opens on Monday, July 31, 2017. Alliance management will discuss these results during a conference call beginning at 10:00 a.m. Eastern that same day. To participate in the conference call, dial (888) 317-6016 and request to be connected to the Alliance Resource Partners, L.P. and Alliance Holdings
Aim-listed Firestone Diamonds’ Lesotho-based Liqhobong diamond mine treated 925 000 t of material in the quarter ended June 30. This brings the total for the financial year to 1.97-million tonnes, the company said in a statement on Monday.
NEW YORK–(BUSINESS WIRE)–Macquarie Group (“Macquarie”) (ASX:MQG; ADR:MQBKY), today announced the appointment of David Lipschitz as a Senior Analyst in Equities Research within its Commodities and Global Markets group. Mr. Lipschitz will be based out of Macquarie’s New York office. Mr. Lipschitz has more than 15 years of experience covering metals, mining and related areas. He joins from CLSA where since 2009, he led coverage of metals, mining, steel and North American rails. Prior to CLSA, Da
Close on the heels of India’s Mines Ministry propagating private-public-partnership (PPP) model contracts to boost private capital into mineral exploration, the government is now looking to invite international mining juniors to fill the void in private investment. The Mines Ministry is preparing to invite about 30 to 40 mining juniors to submit proposals, after which a shortlist will be drawn up. Provincial governments will then select international companies to float PPP special purpose vehicles for exploration projects, senior government officials have said.
YELLOWKNIFE, Northwest Territories & MISSOULA, Mont.–(BUSINESS WIRE)–Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the “Company” or “Dominion”) and The Washington Companies (“Washington”), a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis R. Washington, today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which an entity affiliated with Washington
Encouraged by the recently published resource estimate for the Nezhdaninskoye gold deposit, in Yakutia, Russia, LSE-listed Polymetal has decided to increase its shareholding in the joint venture (JV) project to 24.7%, with an option to acquire the remaining stake.
A new shareholder agreement has been negotiated, under which Polymetal will acquire an additional 7% share from its partner, Ivan Kulakov, for $8-million, which increases its interest to 24.7%.
Mining companies in Australia, the world’s biggest exporter of iron-ore and coal, are poised to approve fresh investments in projects, driven by rallying commodity prices and the need to replace depleting deposits, according to global equipment supply giant Komatsu.
“They’re looking at new fleets of equipment,“ Sean Taylor, CEO of Komatsu’s Australian unit, said in an interview in Sydney. The miners have to reinvest in output “because otherwise they can’t maintain production at the levels that they’re at,” he said.
The agreed suspension of the implementation of the controversial Mining Charter Three may present an opportunity for the parties to negotiate a revised version that reflects terms acceptable to all parties. If so, the renegotiated charter should contain at least nine improvements, say Herbert Smith Freehills lawyers Peter Leon and Patrick Leyden.
In the mysterious world of diamond mining, it turns out that some stones are too big to sell. Canada’s Lucara Diamond Corp will have to cut its tennis ball-sized rough diamond to find a buyer, industry insiders say, following Sotheby’s failed auction for the world’s largest uncut stone last summer.
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–In a historic milestone, El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced today that its first-ever payment on the sale of precious metals recovered from its El Capitan mine site has been issued to the Company. The payment is for the initial shipment of precious metals pursuant to a recently-announced contract with a U.S.-based refinery. According to John F Stapleton, Chairman and CEO, this initial transaction established the procedures and protocol f
Two employees at the Tenke copper mine in Democratic Republic of Congo suffered minor injuries in an electrical fire at the weekend, majority owner China Molybdenum Co said on Monday, disputing media reports the workers had died. France’s Le Figaro and Congolese media had reported that the two employees were killed in the fire.
Close of heels of India’s Mines Ministry propagating private-public-partnership (PPP) model contracts to boost private capital into mineral exploration, the government is now looking to invite international mining juniors to fill the void in private investment.
The Mines Ministry is preparing to invite about 30 to 40 mining juniors to submit proposals, after which a short list will be drawn up. Provincial governments will then select international companies to float PPP special purpose vehicles for exploration projects, senior government officials have said.
Platinum group metals miner Eurasia said on Monday it would submit a mining licence application for its Monchetundra project, in the “near future”, after the Russian State Agency for Suboil use granted a discovery certificate for the project.
The certificate, which is a prerequisite for a production licence, was awarded less than a month after the company submitted its application.
Aim-listed Kefi Minerals has signed the terms for $135-million in funding with Oryx Management to finance and operate all the on-site infrastructure at its Tulu Kapi gold project, in Ethiopia. This latest mandate letter and heads of terms with the infrastructure specialist followed Kefi’s signing of terms with the Ethiopian government to fund the building of all off-site infrastructure for the project.
Dual-listed Botswana Diamonds has been granted a prospecting licence over an additional 1 000 ha immediately east of and contiguous to its Frischgewaagt project, in South Africa. The explorer’s current drilling programme, which is expected to start within weeks, will be extended into the new area, after geophysics studies indicated that the kimberlite dyke/pipe system being studied extended into the adjacent property.
Lithium miner Galaxy Resources has reported a 41% increase in production during the three months to June, compared with the previous quarter at its Mt Cattlin operation, in Western Australia.
During the quarter under review, the Mt Cattlin operation transitioned into commercial production with the ramp-up and commissioning of the plant completed by the end of April.
Centrica and Stadtwerke Muenchen agreed to combine assets to set up a new European exploration and production company and may sell shares in the venture after two years.
The UK’s biggest energy supplier to homes will own 69% of the business and the transaction is expected to close in the fourth quarter, Centrica said Monday in a statement. The organisation allows for further consolidation and joint ventures, potentially through an initial public offering in two to five years.
Privately held Capricorn Copper has secured a A$45-million senior facility agreement with BNP Paribas to fund the refurbishment and restart of its namesake mine, in Queensland.
The senior facility agreement includes A$40-million for project development, commissioning and ramp-up, as well as a A$5-million revolving capital facility once the mine has become operational.
