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Rockwell's fight to overturn interim liquidation orders against three of its subsidiaries in South Africa goes back to court in Kimberley next week, but it's not likely to get the chance until early May at least to challenge the allegations by contractor C-Rock Mining that have led to its baffling plight.
The Canadian-based miner says the hearing will be its first real chance to argue the merits of the case regarding Rockwell Resources RSA, HC van Wyk Diamonds and Saxendrift Mine....
Chairman Alan Broome is predicting a profitable 2017 for UK-based SMG after signing its new off-take client for its Cobre magnetite tailings operation in New Mexico, USA. The 400,000 ton deal with an unnamed private company should double Cobre sales.
It comes after SMG achieved record domestic sales of 14,264t in the March qtr (Q3FY17), up from 3,427t in Q3FY16. It says the March qtr profit margin exceeded 50% of sales.
Russian-focused miner TSG is relying on new mobile pumps and underground mining fleet to overcome the production and flooding issues that have slowed development of its Asacha gold mine on the Kamchatka Peninsula, reducing its March qtr (Q1) output to 7,664oz (Q1FY2016: 9,343oz).
TSG says increasing access to higher-grade ore should gradually increase gold production from Q3. After producing 35,366oz in FY2016, it's forecasting FY2017 production of 32,000-36,000oz.
Australian company Maximus has attracted a cornerstone toll treatment partner for its newly refurbished Burbanks plant near Coolgardie in WA. The unnamed, unrelated company is expected to deliver first ore to the ROM pad late by July.
The deal, on undisclosed terms, allows Maximus to take ore from multiple sources over an extended period.
White Cliffs has begun a mining optimisation study for an openpit operation after a new JORC resource estimate increased contained gold by 93% and gold grade by 23% at its Aucu deposit in the Kyrgyz Republic.
The Inferred resource of 1.8Mt @ 5.2g/t for 302,000oz gold includes a higher-grade zone of 244,000t @ 9.5g/t for 75,000oz gold and 608,000t @ 0.64% for 3,870t contained copper. The resources outcrop at surface and have been drilled to 100m vertical, remaining open at depth and...
West Australian iron ore junior BC is aiming for Sept 2017 approval for a revised mining proposal for its Buckland mine development in the West Pilbara envisaging a 12-20Mtpa development - its 2014 FS proposed an 8Mtpa case - to increase utilisation of the planned Cape Preston East port and deliver a more efficient cost structure.
At its Iron Valley mine, partner Mineral Resources shipped 1.8Mwmt in the March qtr (Q3FY17), down from its record Dec qtr 2.1Mt due to significant rainfall....
Strong operational performance at the Kangala Colliery and contributions from the New Clydesdale Colliery have enabled South African-focused UNV to record operating cash flow of $A9.2M for the March qtr (Q3FY17), up from $4.9M in Q2.
Total coal sales rose 7% to 729,000t (Q2: 679,000t), comprising 697,000t domestic and 121,000t export sales. UNV expects Q4 sales to reach 1Mt, achieving sustainable operating cash-flow levels.
The Waterton private equity group has closed a $US40M deal based on the acquisition of 50% of RNC Minerals’ advanced Dumont Nickel Project in the established Abitibi mining camp in Quebec, Canada, for $22.5M cash,
RNC and Waterton will now each inject $17.5M into a newly established limited partnership that will own and advance Dumont, and seek to acquire more high quality nickel assets globally.
Bluestone Resources has completed its $C80M private placement financing and signed a definitive agreement to buy Goldcorp’s initial $171M capex Cerro Blanco Gold Project in Guatamala and the Mita Geothermal Project for $US33M.
Cerro Blanco, expected to operate over 9-years producing 952,000z of gold and 3.14Moz silver at AISC costs of $490oz gold produced, will cost Bluestone $18M upfront, $15M on commercial production...