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Mining Bulletin

The full story: In-depth news and analysis

BHP IRON ORE DERAILMENT DOWN TO BRAKE FAILURE, INCORRECT OPERATIONS

BHP’s preliminary report ascribes its recent 268-car iron ore train derailment to a brake system failure and incorrect operating procedure

STANMORE COAL KEEPS ITS OPTIONS OPEN WITH NEW 5-YEAR ISAAC PLAINS EAST CONTRACT AWARD

Stanmore Coal builds more flexibility to follow market trends in new 5-year Isaac Plains East coal mining services contract extension for NRW unit Golding.

ANTOFAGASTA KICKS OFF $1.3B EXPANSION PROJECT FOR LOS PELAMBRES COPPER PROJECT

Antofagasta predicts up to 20% increase in production after giving the go-ahead for a $1.3B expansion of throughput capacity at its 60%-owned Los Pelambres copper mine in Chile.

SILVER HEAVYWEIGHT PAN AMERICAN $1.07B BID FOR TAHOE RES

Big gun Pan American Silver has launched a mutually agreed $1.07b bid for suspended Escobel mine owner Tahoe Resources

ROXGOLD ON TRACK TO TOP FY/CY18 120,000oz-130,000oz GUIDANCE

A sizable jump in YTD18 gold production from its Burkina Faso operation, fuelled by better mine and processing performances, has Roxgold set on exceeding FY/CY18 expectations

BONANZA GOLD DISCOVERY FAILS TO OFFSET RNC YTD18 LOSS DOUBLING

RNC’s Aussie bonanza grade gold discovery has cleaned up its balance sheet, eliminating $30M debt, but doubling production hasn’t stopping its YTD18 loss also doubling

AVESORO CUTS YTD18 LOSS BY $14.5M ON 247% GOLD PRODN JUMP

A $160.7M jump in gold sales to $225M+ and lower costs have been the main drivers in cutting Avesoro’s YTD18’s loss to $9.16M

$150M NORTHERN STAR BID FOR REMAINING 49% OF WA GOLD PROJ

Northern Star has launched a $150M cash bid for full ownership of the E Kundana J/V in Western Australia. By Mark Mentiplay

POLYMETAL OK FOR BIG, LOW COST RUSSIAN GOLD MINE PRODN Q4 21

Polymetal study envisages Q4 21 start for production from Russia’s 4th largest, 155,000oz pa gold over an initial 15-years Nezhda deposit

WORK CRANKS UP TO REPAIR LATEST WA IRON ORE RAIL FAILURE

Mineral Resources expects repairs from Western Australia’s latest iron ore derailment to be completed this week, but no date set for re-opening. By Mark Mentiplay

FUNDING OPTIONS UNDER SCRUTINY AS PILBARA MINS TRIGGERS PILGANGOORA EXPANSION

Pilbara Minerals plans to keep up the pace with early approval of the second stage expansion of its Pilgangoora lithium project in Western Australia. John Feary reports

ENDEAVOUR POWERING INTO 2019 WITH PRODN UP AND A PROFIT

Endeavour Mining is nicely set for a better 2019 with YTD18 gold production up, costs down, a loss to $31M profit turnaround and an even better Q4 18 flagged. By MBM's North American correspondent

SEMAFO Q3 18 PROFIT AS NEW MINE ENTERS THE FRAY

SEMAFO’S new Burkina Faso mine has added its 1st commercial production to lift Q3 18 gold production for a turnaround from a loss to a $500,000 profit

STRIKE HELPS PUSH RANDGOLD YTD18 PROFIT DOWN $50M

The recently ended 2-months Tongon gold strike has helped take-over/merger target Randgold Res to a $50M profit slump on lower gold prodn, higher costs

RECORD PRODN FAILS TO AVERT HALVING AMERIGO’S Q3 18 PROFIT

Completion of Amerigo’s MVC Chile copper proj expansion generates record copper prodn, but with lower copper prices cutting net profit in half.

RECORD ALAMOS YTD18 GOLD PRODN FAILS TO OFFSET LOSS

The inclusion of newcomer Island Gold sees record Alamos Gold YTD18 gold prodn up 23% to 379,400oz, but with a bottom line loss

PLATINUM PROGRESS HELPS SIBANYE BATTLE IMPACTS OF SOUTH AFRICAN GOLD TRAGEDIES

Continuing organisational trauma from the tragic series of mining fatalities in the first half of the year has led Sibanye to reduce forecast full year 2018 gold production for its Southern African gold operations.

KINGSROSE EXPECTS BETTER Q2 19, AFTER Q1 19 GOLD FALL, COSTS DOUBLE

Kingsrose’s Way Linggo turn-around, expansion-to-profitability strategy has suffered another setback with Q1 19 gold-silver production down and costs through the roof. By Mark Mentiplay

HUDBAY YTD18 PROFIT DOUBLES TO NEAR $90M

It’s been a good 1st 9-months 2018 for Canadian multi-mineral miner Hudbay with overall production up to double net profit to $89M

FY18 CENTERRA GOLD GUIDANCE UP, DESPITE COSTS HIT Q3 18 PROFIT

Impairments/one-off $60M charge hammer Centerra Q3 18 profit, despite Q3 18 gold jump that lifts FY/CY18 expectations
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Mining Brokers

START THE WEEK: COMMODITIES (Nov 9, 2018)

LME ($US), Nov 9 –
Aluminium 1,964.50
Copper 6,088.00
Zinc 2,556.00
Nickel 11,470.00
Lead 1,957.00
Tin 19,310.00
Cobalt 51,000.00
Gold 1,208.10

COMEX ($US), Nov 9 -
Gold 1,210.30
Copper 2.6785
Silver 14.13

NYMEX ($US) 62% Fe CFR China, Nov 9 -
Iron ore 75.58

START THE WEEK: CALENDAR (Nov 12, 2018)

Public holidays –
Nov 11: Remembrance Day (UK, France)
Nov 12: Veterans Day (USA)
Nov 15: Republic Day (Brazil)
Nov 17: Freedom and Democracy Day (Czechia)

START THE WEEK: COMMODITIES (Nov 2, 2018)


LME ($US), Nov 2 –
Aluminium 1,967.00
Copper 6,255.00
Zinc 2,653.50
Nickel 11,980.00
Lead 1,995.00
Tin 19,175.00
Cobalt 45,000.00
Gold 1,233.30

COMEX ($US), Nov 2 -
Gold 1,234.60
Copper 2.818
Silver 14.745

NYMEX ($US) 62% Fe CFR China, Nov 2 -
Iron ore 72.92

START THE WEEK: CALENDAR (Nov 5)

Public holidays –
Nov 4: Day of Unity (Russia)

Companies –
Nov 8: BHP Billiton Limited AGM, Adelaide (Australia)

START THE WEEK: COMMODITIES (Oct 26, 2018)

LME ($US), Oct 26 –
Aluminium 1,961.00
Copper 6,159.00
Zinc 2,686.00
Nickel 11,835.00
Lead 1,982.00
Tin 19,350.00
Cobalt 60,750.00
Gold 1,233.60

COMEX ($US), Oct 26 -
Gold 1,235.40
Copper 2.7485
Silver 14.705

NYMEX ($US) 62% Fe CFR China, Oct 26 -
Iron ore 72.41

START THE WEEK: CALENDAR (Oct 28, 2018)

Public holidays –
Oct 28: Foundation Day (Czechia)
Oct 29: Republic Day (Turkey)
Nov 1: All Saints Day (various)
Nov 2: All Souls Day (Brazil, Ecuador)
Nov 2: Day of the Dead (Mexico)
Nov 2: Public Holiday (Philippines)
Nov 2: Reformation Day (Chile)
Nov 3: Culture Day (Japan)

START THE WEEK: COMMODITIES (Oct 19, 2018)

LME ($US), Oct 19 –
Aluminium 2,022.50
Copper 6,191.50
Zinc 2,696.00
Nickel 12,470.00
Lead 1,966.00
Tin 19,160.00
Cobalt 60,750.00
Gold 1,225.80

COMEX ($US), Oct 19 -
Gold 1,230.00
Copper 2.7815
Silver 14.65

NYMEX ($US) 62% Fe CFR China, Oct 19 -
Iron ore 71.40

START THE WEEK: CALENDAR (Oct 22, 2018)

Public holidays –
Oct 22: Labour Day (NZ)
Oct 24: Independence Day (Zambia)

Conferences –
Oct 22-23: Mining Investment Oman, Muscat (Oman)
Oct 22-25: Greenhouse Gas Technology Conference, Melbourne (Australia)
Oct 23: Australian Nickel Conference, Perth (Australia)

Companies –
Oct 25: Northern Star Resources Q1, Perth (Australia)
Oct 25: Newmont Mining Q3, Denver (USA)
Oct 26: Yamana Gold Q3, Toronto (Canada)

START THE WEEK: COMMODITIES (Oct 12, 2018)

LME ($US), Oct 12 -
Aluminium 2,045.00
Copper 6,325.00
Zinc 2,677.00
Nickel 12,710.00
Lead 2,037.00
Tin 19,050.00
Cobalt 62,500.00
Gold 1,218.50

COMEX ($US), Oct 12 -
Gold 1,221.60
Copper 2.813
Silver 14.63

NYMEX ($US) 62% Fe CFR China, Oct 12 -
Iron ore 70.49

START THE WEEK: CALENDAR (Oct 15, 2018)

Public holidays –
Oct 14: Mwalimu Nyerere Day (Tanzania)
Oct 15: Mothers Day (Malawi)
Oct 20: Mashujaa Day (Kenya)

Conferences –
Oct 17-18: Brisbane Resources Round-Up (Australia)

Companies –
Oct 17: Alcoa Q3, New York (USA)

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Mining Billboard

Insights and analysis from leading industry commentators

CHINA ENFI DFS SHOWS HIGH POTENTIAL OF DIATREME'S CYCLONE ZIRCON PROJECT

(DEVELOPMENT) DFS lowers forecast capital costs and recommends an immediate move to development of Diatreme Resources’ shovel-ready Cyclone zircon project in Western Australia.

WA MINERS SILVER LAKE AND DORAY SEEK GLOBAL INVESTOR RECOGNITION THROUGH MERGER

(MERGERS & ACQUISITIONS) The search for scale and global visibility has driven West Australian gold miners Silver Lake Resources and Doray Minerals into a merger that will create a mid-tier regionally focused company with forecast production of over 200,000oz and a current resource base of 4.6Moz gold equivalent.

RUMOUR MILLS SPARK ENTHUSIASM FOR POTENTIAL COPPER BOOM IN WA’S PILBARA REGION

(EXPLORATION) After generations as the major source of iron ore for the global seaborne trade and last year’s excitement about a rush for conglomerate-hosted gold mineralisation, now the Pilbara region of Western Australia is generating more excitement over its potential for major copper discoveries. And it may be based to some extent on unconfirmed rumours.

SPECULATION HOLDS SWAY WHILE THE SECTOR AWAITS ANSWERS ON BHP RUNAWAY

(COMMENTARY) There’s still plenty to learn about the dramatic high speed crash of a fully laden iron ore train in the West Australian outback, about the impact on BHP’s export trade and the safety of its expensive Pilbara logistics chain.

PFS BACKS SOVEREIGN HOPES FOR LOW RISK, HIGH MARGINS AT MALAWI GRAPHITE PROJECT

(DEVELOPMENT) Preliminary feasibility study confirms Sovereign Metals’ Malingunde project in Malawi as a globally significant coarse flake graphite development with the lowest estimated unit operating cost of current and future development pipeline.

STUDY SUPPORTS UNDERGROUND OPTION FOR PERSEUS AT YAOURÉ GOLD PROJECT

(DEVELOPMENT) Scoping study supports the potential for underground development that would complement the proposed openpit operation at Perseus Mining’s Yaouré gold project in Cote d’Ivoire
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Mining Brokers

START THE WEEK: COMMODITIES (Nov 9, 2018)

    START THE WEEK: CALENDAR (Nov 12, 2018)

      START THE WEEK: COMMODITIES (Nov 2, 2018)

        START THE WEEK: CALENDAR (Nov 5)

          START THE WEEK: COMMODITIES (Oct 26, 2018)

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