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Mining Bulletin

The full story: In-depth news and analysis

ADRIATIC SEES 2022 START FOR $178M VARES POLYMETALLIC PROJ

Scoping study shows Adriatic Metals will need another $180M to get its $178M Vareš polymetallic project into production by targeted mid-2022

LITHIUM MARKET SLOW-DOWN FORCES 2020 CUTBACKS AT GALAXY’S MT CATTLIN MINE

Lithium producer Galaxy Resources is slowing production at its operating Mt Cattlin mine and reformatting the development plans for its Sal de Vida brine operation in Argentina as another victim of lithium’s slow customer uptake and falling prices. John Feary reports

KENNECOTT $30M EARN-IN TO ADVANCE ALDERAN RESOURCES’ FRISCO COPPER SEARCH

Rio Tinto’s copper giant Kennecott signs $30M earn-in deal to follow up the Alderan Resources vision of a major copper opportunity by combining old-time copper mines in the Frisco Mineral System of Utah, USA.

IGO DEMANDS ANSWERS FROM TAKEOVER TARGET PANORAMIC OVER FAILING SAVANNAH MINE

Australian miner Independence Group is demanding immediate access for due diligence work after its takeover target Panoramic Resources disclosed the woeful performance of its Savannah nickel mine and its deteriorating financial position. John Feary reports

BIG SIERRA METALS TURNAROUND FROM PROFIT-TO-YTD19 $103,000 LOSS

Sierra Metals eyes more capital expenditure cuts for the rest of FY/CY19 after falling from profit to a YTD19 $103,000 loss

IMPAIRMENT-STUNG HUDBAY FROM PROFIT TO $342M YTD19 LOSS

Lower production, higher costs and a to be appealed $242M impairment, push Hudbay from profit to $343M YTD19 loss

MINING CHANGES LIFT RESOURCES/RESERVES AT OZ MINERALS’ CARRAPATEENA MINE

First concentrate production has been delayed by vendor supply errors, but OZ Minerals says its evaluation of possible changes to the underground mining techniques have enabled significant increases in resources and reserves at its Carrapateena copper-gold project.

REVISED DFS RAISES SAYONA’S AUTHIER LITHIUM GAME

New study lifts Sayona Mining’s Canadian lithium project production taking NPV8% up to $216M from $184.8M and pre-tax IRR up to 33.9% from 33.7%

RENASCOR MULLS LOW-COST STAGED DEVELOPMENT OF SA GRAPHITE PROJECT

DFS outlines low-cost development strategy to offset falling graphite prices, maintaining strong forecast profit margins for Renascor Resources’ Siviour project on South Australia’s Eyre Peninsula.

GOLD FIELDS Q3 19 PRODN DOWN, REVENUE UP

Gold Fields now eyeing the top end of FY/CY19’s 2.13Moz-2.18Moz guidance, despite Q3 19 gold production fall

DROUGHT RESTRICTIONS THREATEN OPERATIONS OF AERIS RESOURCES’ TRITTON COPPER MINE

Major Australian copper producer Aeris Resources has been left with just three months of water supply for its Tritton mine in central NSW due to new drought management clampdowns.

FOSTERVILLE TRIGGERS RECORD KIRKLAND YTD19 134% PROFIT JUMP

A big Q3 19 production jump from Kirkland Lake’s Fosterville gold operation in Australia has topped a record YTD19 with profit up 134% to $390M

KINROSS $193M YTD19 PROFIT JUMP

Higher prodn, lower costs steer Kinross to $197M YTD19 profit and heading for FY/CY19 2.5Moz AuEq

IAMGOLD PLUNGES TO $58.7M YTD19 LOSS, PRODN FROM ALL MINES DOWN

Prodn falls at all of its mines have pushed IAMGOLD from profit to a $58.7M YTD19 loss

MERGER ENHANCED BARRICK Q3 19 GOLD FALL ON $2.27B PROFIT

The recently merged Barrick Gold has posted a massively increased $2.27B Q3 19 profit, despite gold output falling to 1.3Moz

RNC YTD19 GOLD FALL GENERATES SMALL LOSS CUT

Despite a fall in YTD19 gold production, RNC has managed a small loss cut to $19.8M

RAINEY RIVER LEADS NEW GOLD TO YTD19 LOSS CUTTING PRODN RISE

Higher Rainey River production and lower costs have been the drivers for New Gold to cut its YTD19 loss by $269M to $74M

SOUTH32 TRANSACTION SETS SERITI ON COURSE TO BE SOUTH AFRICAN COAL ‘CHAMPION’

Australian-based international miner South32 says its conditional agreement to sell its South African Energy Coal business to black majority-owned Seriti will substantially strengthen its balance sheet and improve operating margins.

NEWMONT GOLDCORP CUTS FY/CY19 GOLD EXPECTIONS TO 6.3Moz

An expected big Newmont Goldcorp profit jump on equally large merger-induced YTD19 gold production has failed to avoid a cut in FY/CY19 expectations to 6.3Moz from 6.5Moz

LEAGOLD CUTS Q3 19 LOSS, DESPITE LOWER PRODN, HIGHER COSTS

Leagold is expecting better things in Q4 19, mainly from its Los Filos Gold Mine in Mexico, after cutting its Q3 19 loss by $67M on lower production, higher costs
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START THE WEEK: COMMODITIES (Nov 15, 2019)

LME ($US), Nov 15 –
Aluminium 1,741.00
Copper 5,812.00
Zinc 2,427.00
Nickel 14,990.00
Lead 2,004.00
Tin 16,275.00
Cobalt 35,500.00
Gold 1,467.80
Silver 16.995

LBMA price data ($US), pm Nov 15 –
Gold 1,466.90
Silver 16.87000
Platinum 883.00
Palladium 1,725.00

NYMEX ($US) 62% Fe CFR China, Nov 15 -
Iron ore 82.80

START THE WEEK: CALENDAR (Nov 17, 2019)

Companies –
Nov 21: Galaxy Resources strategy briefing, Perth (Australia)

DATADIGGING: SEPT 2019 QUARTERLIES/YTD

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START THE WEEK: COMMODITIES (Nov 8, 2019)

LME ($US), Nov 8 –
Aluminium 1,827.50
Copper 5,951.50
Zinc 2,507.00
Nickel 16,190.00
Lead 2,101.00
Tin 16,675.00
Cobalt 35,500.00
Gold 1,462.40
Silver 16.875

LBMA price data ($US), pm Nov 8 –
Gold 1,464.15
Silver 16.81000
Platinum 888.00
Palladium 1,768.00

NYMEX ($US) 62% Fe CFR China, Nov 8 -
Iron ore 80.36

START THE WEEK: CALENDAR (Nov 10, 2019)

Conferences –
Nov 12-13:  NewGenGold 2019, Perth (Australia)

START THE WEEK: COMMODITIES (Nov 1, 2019)

LME ($US), Nov 1 –
Aluminium 1,766.00
Copper 5,797.00
Zinc 2,541.00
Nickel 16,750.00
Lead 2,176.00
Tin 16,575.00
Cobalt 35,500.00
Gold 1,509.10
Silver 18.050

LBMA price data ($US), pm Nov 1 –
Gold 1,508.80
Silver 18.12000
Platinum 935.00
Palladium 1,801.00

NYMEX ($US) 62% Fe CFR China, Nov 1 -
Iron ore 83.55

START THE WEEK: CALENDAR (Nov 4, 2019)

Conferences –
Nov 4: World Coal Association 21st Century Coal, Katowice (Poland)

Companies –
Nov 6: Covia Holdings Corp Q3, Independence OH (USA)
Nov 6: Albemarle Q3, Charlotte NC (USA)

START THE WEEK: COMMODITIES (Oct 25, 2019)

LME ($US), Oct 25 –
Aluminium 1,710.50
Copper 5,867.50
Zinc 2,544.00
Nickel 16,890.00
Lead 2,244.50
Tin 16,600.00
Cobalt 35,500.00
Gold 1,503.20
Silver 17.945

LBMA price data ($US), pm Oct 25 –
Gold 1,513.45
Silver 18.12500
Platinum 931.00
Palladium 1,778.00

NYMEX ($US) 62% Fe CFR China, Oct 25 -
Iron ore 90.22

START THE WEEK: CALENDAR (Oct 27, 2019)

Conferences –
Oct 27-Nov 1: LME Week, London (UK)
Oct 28-31: IMARC Conference, Melbourne (Australia)
Oct 28-29: Future of Mining Americas, Denver (USA)

Companies –
Oct 31: Alamos Gold Q3,Toronto (Canada)

START THE WEEK: COMMODITIES (Oct 18, 2019)

LME ($US), Oct 18 –
Aluminium 1,729.00
Copper 5,751.00
Zinc 2,489.00
Nickel 16,475.00
Lead 2,211.00
Tin 16,875.00
Cobalt 35,500.00
Gold 1,490.40
Silver 17.540

LBMA price data ($US), pm Oct 18 –
Gold 1,490.00
Silver 17.43500
Platinum 886.00
Palladium 1,763.00

NYMEX ($US) 62% Fe CFR China, Oct 18 -
Iron ore 90.76

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Mining Billboard

Insights and analysis from leading industry commentators

WAGE DEALS PROMISE 3 YEARS OF WORKFORCE SECURITY FOR SA PLATINUM MAJORS

(INDUSTRIAL RELATIONS) South Africa’s major platinum producers have averted fears of a repeat of the disruptive strikes of five years ago with the signing of new three-year wage settlements with their representative unions.

CHINESE-BACKED TENDER WINNERS FACE TIGHT DEVELOPMENT TARGETS FOR SIMANDOU PROJECT

(DEVELOPMENT) Fortescue Metals Group misses out as Chinese-backed consortium wins international tender for mining rights over Guinea’s massive Simandlou Block 1 and 2 iron ore deposits.

MINER WARNS SHUTDOWN COULD UNDERMINE COMMUNITY SUPPORT FOR TOLIARA PROJECT

(COMMUNITY) Base Resources warns a Madagascar government order suspending work on its Toliara mineral sands project could undermine its efforts to build community support for one of the world’s most exciting development projects.

US COAL GIANT MURRAY ENERGY FILES FOR BANKRUPTCY OVER $1.7B LIABILITIES

(USA) Largest private coal miner Murray Energy highlights the pressures facing the US sector, becoming the eighth coal company in the country to file for bankruptcy protection within a year.

NEW DATA GATHERING/BLOCK CAVING TAKING NEWCREST DEEPER

A new mining method to take miners deeper at acceptable costs is already being used by gold major Newcrest Mining at its recently acquired Red Chris mine in Canada.

VALE'S AUTONOMOUS TRUCK REVOLUTION REACHES LARGEST IRON ORE OPENPIT

(TECHNOLOGY) World No 1 iron ore miner is beginning the progressive transition to fully autonomous haul truck operations at the Carajás mine in the latest stage of its digital transformation program for the Industry 4.0 era.
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Mining Brokers

START THE WEEK: COMMODITIES (Nov 15, 2019)

    START THE WEEK: CALENDAR (Nov 17, 2019)

      DATADIGGING: SEPT 2019 QUARTERLIES/YTD

        START THE WEEK: COMMODITIES (Nov 8, 2019)

          START THE WEEK: CALENDAR (Nov 10, 2019)

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