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Mining Bulletin

The full story: In-depth news and analysis

$1.9B BLOWOUT SHOCK FOR RIO TINTO DEVELOPMENT OF OYU TOLGOI UNDERGROUND

Previously unrecognised ground stability issues are forcing an urgent review of mine design that will further delay completion and increase costs by around 30% at the already long-delayed underground mine development at the Oyu Tolgoi mine in Mongolia.

EXPECTED LOW GRADES CLOBBER KENMARE’S Q2 19 OUTPUT

It was partially expected, but still tough with Q2 19 HMC, ilmenite and zircon production all well down

OZ MINS FLAGS 120,000oz pa GOLD OPERATION AT BRAZIL’S CENTROGOLD

Oz Mins is looking to create a mining/processing hub from its recently acquired CentroGold operation in Brazil also expected to produce an initial 120,000oz pa

FY 19 EVOLUTION GOLD PRODN DOWN, COSTS JUMP

A broad range of woes have seen Australia-focused gold miner Evolution’s FY19 costs jump $127oz on production down 48,000oz+ to 753,001oz.

DACIAN GOLD SEES GOLD PRODUCTION GROWTH IN NEW MT MORGANS MINE PLAN

After reducing its sights in FY19, Dacian Gold is predicting total production of 1.1Moz gold over eight years in a new mine plan for its Mt Morgans operations in Western Australia. John Feary reports

LEGEND ASSEMBLES $22M THRUST INTO BURGEONING FRASER RANGE

Legend Mining, independence Group and celebrated prospector Mark Creasy have formed a tripartite assault on Western Australia’s Fraser Range. By Mark Mentiplay

CENTAURUS MOVES TO BFS ON STRONG ECONOMICS JAMBREIRO PFS

Low cost $1B+ revenue over initial 18-years forecast in new PFS on Centaurus’ Brazilian iron ore project

OCEANAGOLD PREPARES FOR LOCAL GOVT BATTLE OVER DIDIPIO

Oceanagold has responded to a Philippines governors’ order to restrain company operations at its Didipio Gold-Copper Mine with an injunction to be heard July 10.

ORION BFS OUTLINES LONG LIFE, HIGH MARGINS FOR SOUTH AFRICA’S HISTORIC PRIESKA MINE

Orion Minerals’ bankable feasibility study confirms strong economics for a new long-life, high-margin copper and zinc operation in the footprint of South Africa’s historic Prieska mine.

MACMAHON TO TARGET MORE UNDERGROUND WORK AFTER GBF ACQUISITION

Australian mining contractor Macmahon is confident it can compete more strongly for work across the openpit and underground areas through its planned acquisition of specialist contractor GBF.

HAVILAH EYES ENHANCED OUTCOMES FOR KALKAROO COPPER-GOLD PROJECT IN NEW PFS

South Australian project developer Havilah Resources continues to explore upside scenarios for its flagship Kalkaroo project ahead of a prefeasibility study update.

RAMELIUS TURNS TO EDNA MAY PROCESSING OPTION FOR NEW TAMPIA GOLD PROJECT

WA miner Ramelius Resources sets out five-year plan to produce over 1Moz gold despite six-month delay in land clearance approval for its Greenfinch openpit development.

SARACEN SECURES LONG-SOUGHT BOOST FOR THUNDERBIRD WITH NEW BLIGH DEAL

Saracen’s comeback success in its quest for the Bundarra resource also delivers a significant return for international resources investor Zeta Resources. John Feary reports

ADANI MAKES FAST START TO $2.95B CARMICHAEL COAL MINE AFTER WINNING 8-YEAR BATTLE

The Australian arm of Indian energy giant Adani expects to start construction work almost immediately after finally winning the final state government approval for its 10Mtpa first stage Carmichael thermal coal mine.

NEWCREST AGREES MACMAHON DEMAND TO RENEGOTIATE ITS AT-RISK TELFER MINE CONTRACT

The mining services contract at Newcrest Mining’s Telfer gold mine that triggered a financial crisis for leading Australian contractor Macmahon two years ago has come back to bite it again, with warnings of significant impairment costs if the parties can’t agree to renegotiate the charges. John Feary reports

SHIFT TO CONTRACT MINING WOES CUT AVESORO FY19 GOLD PRODN

Troubles associated with the cost-cutting switch to contract mining at Avesoro’s 2 W African operations has forced the company to cut FY19 gold guidance and increase costs

HECLA TAKES $25M SWORD TO ITS AMERICAS OPERATIONS

Hecla Mining’s non-performing Nevada, US, assets will bear the brunt of a $25M cost cutting purge across all the company’s operations. By MBM’s North American correspondent

DISCOVERY SUPPORTS RNC GEOLOGICAL MODEL FOR MORE BETA HUNT BONANZA GOLD

Canadian miner RNC follows up its Father’s Day Vein bonanza with a second major discovery of coarse gold mineralisation at the Beta Hunt mine in Western Australia.

CHANGE OF CONTROL FLAGGED AS DACIAN CUTS FY19 PROJECTIONS AGAIN

Dacian Gold has flagged a potential “change of control transaction” after a strife-hit Q4 19 at Mt Morgans has forced the company to again cut FY19 production from 180,000oz to 136,000oz-143,000oz. By Mark Mentiplay

CASH-FLOW CRUNCH OVER DALGARANGA MINE WOES TRIGGERS GASCOYNE COLLAPSE

WA miner Gascoyne Resources appoints voluntary administrators after review that pointed to a lower-grade future for its struggling Dalgaranga gold mine. John Feary reports

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START THE WEEK: COMMODITIES (July 12, 2019)


LME ($US), Jul 12 –
Aluminium 1,799.50
Copper 5,950.00
Zinc 2,426.50
Nickel 13,205.00
Lead 1,972.00
Tin 18,200.00
Cobalt 27,500.00
Gold 1,410.50
Silver 15.215

COMEX ($US), Jul 12 –
Gold 1,417.80
Copper 2.694
Silver 15.25

NYMEX ($US) 62% Fe CFR China, Jul 12 -
Iron ore 120.25

LBMA price data ($US), pm Jul 12 –
Gold 1,407.60
Silver 15.14000
Platinum 818.00
Palladium 1,554.00

START THE WEEK: CALENDAR (July 14, 2019)

Companies –
Jul 16: Rio Tinto Q2, Sydney (Australia)
Jul 16: Galaxy Resources 1/4, Sydney (Australia)
Jul 17: BHP FY, Melbourne (Australia)
Jul 18: Alcoa Q2, New York (USA)
Jul 18: Perseus Mining 1/4, Perth (Australia)

START THE WEEK: COMMODITIES (July 5, 2019)

LME ($US), Jul 5 –
Aluminium 1,779.50
Copper 5,857.00
Zinc 2,404.00
Nickel 12,300.00
Lead 1,863.00
Tin 18,350.00
Cobalt 29,500.00
Gold 1,398.40
Silver 14.985

COMEX ($US), Jul 5 –
Gold 1,401.20
Copper 2.6655
Silver 15.015

NYMEX ($US) 62% Fe CFR China, Jul 5 -
Iron ore 117.10 

LBMA price data ($US), pm Jul 5 –
Platinum 825.00
Palladium 1,574.00

START THE WEEK: CALENDAR (July 7, 2019)

Public holidays –
Jul 7: Kupalle Day 2 (Belarus)
Jul 7: Saba Saba (Tanzania)
Jul 7: Independence Day (Solomon Islands)
Jul 8: Bridge Public Holiday (Argentina)
Jul 8: Day of the Capital observed (Kazakhstan)
Jul 8: Independence Day Holiday (Malawi)
Jul 8: Independence Day Holiday (Solomon Islands)
Jul 9: Independence Day (Argentina)
Jul 9: Independence Day (South Sudan)
Jul 10: Political Flag Day (Mongolia)
Jul 10: Independence Day (Bahamas)
Jul 11-13: Naadam Holiday (Mongolia)
Jul 13: Statehood Day (Montenegro)

START THE WEEK: COMMODITIES (28 June 2019)

LME ($US), Jun 28 –
Aluminium 1,773.50
Copper 5,972.00
Zinc 2,580.50
Nickel 12,665.00
Lead 1,914.00
Tin 18,805.00
Cobalt 27,600.00
Gold 1,410.70
Silver 15.305

COMEX ($US), Jun 28 –
Gold 1,412.50
Copper 2.7175
Silver 15.355

NYMEX ($US) 62% Fe CFR China, Jun 28 -
Iron ore 112.90

LBMA price data ($US), pm Jun 28 –
Platinum 818.00
Palladium 1,524.00

START THE WEEK: CALENDAR (July 1, 2019)

Conferences –
Jul 4-6: Minexpo Africa 2019, Nairobi (Kenya)

START THE WEEK: COMMODITIES (June 21, 2019)

LME ($US), Jun 21 –
Aluminium 1,743.50
Copper 5,941.00
Zinc 2,542.50
Nickel 12,135.00
Lead 1,894.00
Tin 19,130.00
Cobalt 28,000.00
Gold 1,395.80
Silver 15.275

COMEX ($US), Jun 21 –
Gold 1,403.00
Copper 2.702
Silver 15.415

NYMEX ($US) 62% Fe CFR China, Jun 21 -
Iron ore 107.54

LBMA price data ($US), pm Jun 21 –
Platinum 803.00
Palladium 1,500.00

START THE WEEK: CALENDAR (June 23, 2019)

Conferences –
Jun 24-25: Deep Mining 2019, Johannesburg (South Africa)
Jun 24-25: Metal, Mining and Metallurgy Conference 2019, Tokyo (Japan)
Jun 25-26: Investment Showcase, Gold Coast (Australia)
Jun 26-27: Mining Investment North America, Toronto (Canada)

START THE WEEK: COMMODITIES (June 14, 2019)

LME ($US), Jun 14 –
Aluminium 1,737.50
Copper 5,805.50
Zinc 2,575.00
Nickel 11,895.00
Lead 1,882.00
Tin 19,550.00
Cobalt 28,000.00
Gold 1,341.10
Silver 14.825

COMEX ($US), Jun 14 –
Gold 1,345.30
Copper 2.6305
Silver 14.85

NYMEX ($US) 62% Fe CFR China, Jun 14 -
Iron ore 104.33

LBMA price data ($US), pm Jun 14 –
Platinum 806.00
Palladium 1,447.00

START THE WEEK: CALENDAR (June 16, 2019)

Conferences –
Jun 18: Copper to the World Conference, Adelaide (Australia)
Jun 18-19: Mining Investment Europe, Frankfurt (Germany)

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Mining Billboard

Insights and analysis from leading industry commentators

STATE AGREEMENT FOR FUTURE BHP PILBARA PROJECTS SETS AUSTRALIAN PRECEDENT

(BUREAUCRACY) West Australian government promises 50% faster approval timelines for future BHP Iron Ore projects up to a century ahead in expansion strategy. John Feary reports

PROCESS TECH GIANTS METSO AND OUTOTEC MERGER TO CREATE NEW INDUSTRY LEADER

(MERGERS & ACQUISITIONS) Scandinavian process technology, equipment and services leaders look to €4B-plus annual sales from new Metso Outotec.

BRAZIL’S IRON ORE WOES DELIVER A NEW ECONOMIC BOOST FOR AUSTRALIAN COMMODITY EARNINGS

(TRADING) The massive impact of commodity exports, particularly to feed growing Chinese demand, that dragged the Australian economy through the global financial crisis of 2007-2010 has come to its aid again with record earnings from resources and energy exports in 2018-19 and once more in the coming year.

ACACIA COULD SUPPORT A BARRICK TAKEOVER DESPITE ITS ROLE IN TANZANIAN ROW

(MERGERS & ACQUISITIONS) Acacia Mining claims parent Barrick Gold’s uninvited intervention in its dispute with the Tanzanian government has made the situation worse, rather than better – but affirms it will support a fairly priced privatisation move.

CHILE TO REVAMP LITHIUM MINING RULES TO DOUBLE PRODN BY 2023

Chile will announce imminent new plans to double lithium carbonate output by 2023 to at least maintain its share of global production

US CLAIMS AUSTRALIA/CANADA SUPPORT TO REDUCE CHINA MINERALS RELIANCE

Australia and Canada have yet to respond to US claims of a joint effort to offset reliance on key Chinese resources
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Mining Brokers

START THE WEEK: COMMODITIES (July 12, 2019)

    START THE WEEK: CALENDAR (July 14, 2019)

      START THE WEEK: COMMODITIES (July 5, 2019)

        START THE WEEK: CALENDAR (July 7, 2019)

          START THE WEEK: COMMODITIES (28 June 2019)

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