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Mining Bulletin

The full story: In-depth news and analysis

PURE ALUMINA $27M BID FOR HIGH PURITY ALUMINA PRODUCER POLAR SAPPHIRE

Pure Alumina could be producing high purity alumina this year if its $27M acquisition of Canadian producer Polar Sapphire is successful. By Mark Mentiplay

STUDY POINTS BASE RESOURCES TO POSSIBLE 2021 PRODUCTION START AT TOLIARA SANDS MINE

Base Resources has already begun work on a DFS after completing a preliminary study that confirms its Toliara project in Madagascar as one of the world’s best mineral sands development opportunities.

AERIS RES $812M BID FOR GLENCORE’S CSA COPPER MINE

Australia-based Aeris Resources is in late stage discussions with Glencore to buy its CSA copper mine for $812M. By Mark Mentiplay

ANTOFAGSTA FY18 PROFIT PLUNGE, DESPITE RECORD COPPER

Lower grades/copper price and higher inputs have pushed Antofagasta’s bottom line profit down $320M to $880M, despite record copper output.

MINCOR SIGNS NEW BHP DEAL TO REVIVE KAMBALDA NICKEL PRODN

A new deal to fast track the restart of Mincor Resources’ WA nickel operations envisages up to 600,000tpa nickel ore through BHP’s Kambalda concentrator. By Mark Mentiplay

STUDY BACKS CANADIAN METALLURGICAL COAL MINE CHALLENGE TO AUSTRALIAN DOMINANCE

Shorter rail haulages and an uncongested port emerge as key factors that could assist British Columbian project to overcome the costs advantage of Australia’s Hunter Valley mines.

FEARS FOR SAFETY OF TAILINGS DAM FORCE CLOSURE OF ANOTHER VALE IRON ORE MINE

A day after its tailings dam was given an official clearance, Vale has ceased operations of another of its Brazilian iron ore mines by order of a local civil court.

MINE PROBLEMS, WRITE DOWNS BLOW MANDALAY FY18 LOSS TO $63.7M

Mandalay is hoping its loss-making FY18 problems are behind it as the company targets increased near future production to cut its latest $63.7M loss

$30M K92 PNG GOLD MINE EXPANSION TO DOUBLE CAPACITY

On the heels of 1st year of commercial production from its PNG gold mine, K92 to spend $30M doubling capacity for 120,000oz AuEq pa over initial 13-years

BARRICK, NEWMONT UNITE IN JV TO CREATE WORLD’S BIGGEST GOLD COMPLEX IN NEVADA

Hostile takeover attempt ends with joint venture agreement to unite Tier 1 mines and 48Moz of gold reserves into a single giant JV operation.

PFS BACKS DUAL OPEN PIT/UNDERGROUND AVESORO LIBERIAN GOLD OPERATION

An 89% jump in gold reserves, including 461,000oz underground, has PFS backing a dual open pit satellite/underground operation at Avesoro’s Liberian project

GOLDEN GATE CENTRE OPENING UP A BRIGHTER FUTURE FOR MILLENNIUM AT NULLAGINE

Strong drilling results underpin new mine developments that are expected to deliver a strong uplift in head grades at Millennium Minerals’ Nullagine gold project in Western Australia.

REJECTED BARRICK WANTS US J/V TALKS WITH TAKEOVER TARGET NEWMONT

Barrick Gold wants to talk J/V on Newmont Mining’s Nevada, US, operations, despite having its Newmont takeover rejected and plans to go directly to Newmont shareholders on a full takeover

NEWMONT REJECTS HOSTILE $18B BARRICK GOLD TAKEOVER BID

The Newmont Mining board has unanimously rejected the Barrick Gold bid saying it’s not as good as the previously announced Newmont-Goldcorp get together

NEW NUMBERS LIFT KALIUM’S POTASH PROJ PRODN/FINANCIALS

A string of new increased production/financials are already flowing from completion of FEED work on Kalium Lake’s WA potash project, head for prodn next year

VALE ACCEDES TO OFFICIAL PRESSURE FOR DEPARTURE OF CEO AND TOP EXECUTIVES

Brazilian mining giant Vale promises continued transparency with authorities over investigations and remediation of the Feijao mine disaster.

Gt PANTHER 880% COLLAPSE TO $10M FY18 LOSS

Great Panther Silver is now looking to its acquisition of Aussie gold miner Beadell to restore its fortunes after a FY18 profit-to-$10M loss

OZ MINS FY18 PROFIT SLIDE DESPITE INCREASED COPPER/GOLD

Increased copper-gold production from OZ Minerals’ Prominent Hill operation continues to underpin OZ Minerals’ other advanced asset developments, but unable to offset FY18 $9M profit fall

CHINESE DEVELOPER CHENGTUN SET TO TAKE KALONGWE PROJECT LEAD THROUGH NZURI TAKEOVER

Nzuri Copper directors urge shareholders to accept $110M cash bid from DR Congo development powerhouse Chengtun Mining Group.

FRESNILLO FY18 PROFIT PLUNGES 73% TO $350M

Higher costs, lower commodity prices and a $22.5M Silverstream loss have trumped increased silver/gold production to cut Fresnillo’s FY19 profit 73%
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Mining Brokers

START THE WEEK: COMMODITIES (March 15, 2019)

LME ($US), Mar 15 –
Aluminium 1,868.00
Copper 6,410.00
Zinc 2,839.00
Nickel 12,845.00
Lead 2,053.50
Tin 21,340.00
Cobalt 30,000.00
Gold 1,302.30

COMEX ($US), Mar 15 -
Gold 1,302.30
Copper 2.9085
Silver 15.29

NYMEX ($US) 62% Fe CFR China, Mar 15 -
Iron ore 86.12

LBMA price data ($US), pm Mar 15 –
Platinum 831.00
Palladium 1,555.00

START THE WEEK: CALENDAR (March 17, 2019)

Public holidays –
Mar 17: St Patrick’s Day (various)
Mar 17: Sheikh Mujbur Rahman Birthday (Bangladesh)
Mar 18: Benito Juarez Birthday Holiday (Mexico)
Mar 18: Soldiers Day (Mongolia)
Mar 19: Father Day (Bolivia)
Mar 19: St Joseph’s Day (various)
Mar 20: Holika Dahana (India)
Mar 20: Erev Purim (Israel)
Mar 20: Full Moon Day (Myanmar, Sri Lanka)
Mar 20: International Francophonie Day (DR Congo)
Mar 20: Imam Ali Birthday (Iran)
Mar 20: Independence Day (Tunisia)
Mar 21: Naw Roz (Afghanistan)

START THE WEEK: COMMODITIES (Mar 8, 2019)

LME ($US), Mar 8 –
Aluminium 1,848.00
Copper 6,398.50
Zinc 2,706.00
Nickel 13,040.00
Lead 2,072.00
Tin 21,410.00
Cobalt 33,000.00
Gold 1,298.90

COMEX ($US), Mar 8 -
Gold 1,298.60
Copper 2.8995
Silver 15.36

NYMEX ($US) 62% Fe CFR China, Mar 8 -
Iron ore 85.15

LBMA price data ($US), pm Mar 8 –
Platinum 818.00
Palladium 1,509.00

START THE WEEK: CALENDAR (Mar 11, 2019)

Public holidays –
Mar 11: Commonwealth Day (Canada)
Mar 11: Clean Monday (Greece)
Mar 11: Moshoeshoe's Birthday (Lesotho)
Mar 11: Independence Day/National Day (Lithuania)
Mar 12: Arbor Day (China)
Mar 12: National Day (Mauritius)
Mar 12: Youth Day (Zambia)
Mar 13: Decoration Day (Liberia)
Mar 14: Summer Day (Albania)
Mar 15: Constitution Day (Belarus)
Mar 15: 1848 Revolution Memorial Day (Hungary)
Mar 15: J. J. Roberts Birthday (Liberia)

START THE WEEK: COMMODITIES (Mar 1, 2019)

LME ($US), Mar 1 –
Aluminium 1,890.50
Copper 6,572.00
Zinc 2,839.50
Nickel 13,160.00
Lead 2,152.50
Tin 21,800.00
Cobalt 33,000.00
Gold 1,298.10

COMEX ($US), Mar 1 -
Gold 1,294.50
Copper 2.9265
Silver 15.23

NYMEX ($US) 62% Fe CFR China, Mar 1 -
Iron ore 85.98

LBMA price data ($US), pm Mar 1 –
Platinum 863.00
Palladium 1,553.00

START THE WEEK: CALENDAR (Mar 4, 2019)

Public holidays –
Mar 3: Martyrs Day (Malawi)
Mar 3: Peasants Day (Myanmar)
Mar 3-6: Carnival (Brazil)
Mar 4-6: Carnival (various, South America)
Mar 4: Labour Day (Western Australia)
Mar 4: Shivaratri (India)
Mar 4: Mahasivarathri Day (SriLanka)
Mar 5: Shrove Tuesday (various)
Mar 6: Ash Wednesday (various)
Mar 6: Independence Day (Ghana)
Mar 8: International Women’s Day (various)
Mar 8: Zhonghe Festival (China)

START THE WEEK: COMMODITIES (Feb 22, 2019)

LME ($US), Feb 22 –
Aluminium 1,890.50
Copper 6,489.00
Zinc 2,718.00
Nickel 12,930.00
Lead 2,059.00
Tin 21,650.00
Cobalt 33,000.00
Gold 1,330.70

COMEX ($US), Feb 22 -
Gold 1,330.70
Copper 2.948
Silver 15.97

NYMEX ($US) 62% Fe CFR China, Feb 22 -
Iron ore 88.16 

LBMA price data ($US), pm Feb 22 –
Platinum 830.00
Palladium 1,482.00

START THE WEEK: CALENDAR (Feb 25, 2019)

Public holidays –
Feb 24: Independence Day (Estonia)
Feb 24: Dragobete (Romania)
Feb 25: People Power Anniversary (Philippines)
Feb 27: Independence Day (Dominican Republic)
Feb 27: Special Operations Forces Day (Russian Federation)
Feb 28: Feast of Saint Vartan (Armenia)
Feb 28: Day of Andalucía (Andalusia)
Feb 28: 228 Memorial Day (Taiwan)
Mar 1: Maharishi Dayanand Saraswati Jayanti (India)
Mar 1: Martisor, First Day of Spring (Moldova, Romania)
Mar 1: Patriots' Day (Mongolia)
Mar 1: Heroes' Day (Paraguay)

START THE WEEK: COMMODITIES (Feb 15, 2019)

LME ($US), Feb 15 –
Aluminium 1,828.50
Copper 6,190.00
Zinc 2,641.00
Nickel 12,100.00
Lead 2,068.00
Tin 21,085.00
Cobalt 31,000.00
Gold 1,319.00

COMEX ($US), Feb 15 -
Gold 1,325.00
Copper 2.815
Silver 15.755

NYMEX ($US) 62% Fe CFR China, Feb 15 -
Iron ore 88.56 

LBMA price data ($US), pm Feb 15 –
Platinum 788.00
Palladium 1,437.00

START THE WEEK: CALENDAR (Feb 18, 2019)

Public holidays –
Feb 17: Revolution Day (Libya)
Feb 18: Presidents' Day (regional USA)
Feb 18: Family Day (regional Canada)
Feb 19: Maghi Purnima (Bangladesh)
Feb 19: Meak Bochea Day (Cambodia)
Feb 19: Lantern Festival (China)
Feb 19: Guru Ravidas Jayanti (India)
Feb 19: Constantin Brancusi Day (Romania)
Feb 19: Navam Full Moon Poya Day (Sri Lanka)
Feb 19: Lantern Festival (Taiwan)
Feb 19: Makha Bucha (Thailand)
Feb 21: Language Martyrs' Day (Bangladesh)
Feb 21: King Harald V Day (Norway)

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Mining Billboard

Insights and analysis from leading industry commentators

ST BARBARA OPTS TO STAY WITH THE TRUCKS AS IT GOES DEEPER AT WA’S GWALIA GOLD MINE

(TECHNOLOGY) St Barbara feasibility study rejects hydraulic hoisting options and will stick with an optimised truck-haulage system for the planned extension of mining at its Gwalia mine below 2,000m. John Feary reports

VIMY NT URANIUM SEARCH SUCCESS DRAWS ON ATHABASCA EXPLORATION TOOLKIT

(EXPLORATION) There are no alligators in the Athabasca Basin, just as there aren’t in the Alligator River (they’re crocodiles). But there’s growing realisation that the huge wilderness area in the Arnhem Land region of Australia’s Northern Territory shares another characteristic with the Athabasca Basin region in northern Saskatchewan, Canada – monster uranium deposits.

SOARING TIN PRICES PROMPT AUSSIES TO ACCELERATE DEVELOPMENT PLANS

(BATTERY MINERALS) LME tin prices hitting $A30,000t have stimulated plans to accelerate development planning for two of Australia’s most significant potential producers, both within the vicinity of the producing Renison project in NW Tasmania. John Feary reports

CHINA TOP RARE EARTHS IMPORTER/EXPORTER

In a sudden and surprising development, China has become both the world’s biggest rare earth elements importer/exporter

INNOVATIONS BRING AMRUN BAUXITE PROJECT ON LINE SAFELY, QUICKLY AND UNDER-BUDGET

(CONSTRUCTION) The commissioning ahead of schedule and under budget of the 28Mtpa Amrun bauxite development on Australia’s Cape York Peninsula is being credited to an innovative construction approach by Rio Tinto.

NORTHERN STAR PROJECT AWARD BRINGS BGC CONTRACTING BACK TO WA GOLD OPERATIONS

(CONTRACTING) The award of the initial infrastructure and mining contract for the Ramone deposit at Northern Star Resources’ Jundee mine marks a significant return to West Australian gold mining by the up-for-offers BGC Contracting. John Feary reports
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Mining Brokers

START THE WEEK: COMMODITIES (March 15, 2019)

    START THE WEEK: CALENDAR (March 17, 2019)

      START THE WEEK: COMMODITIES (Mar 8, 2019)

        START THE WEEK: CALENDAR (Mar 11, 2019)

          START THE WEEK: COMMODITIES (Mar 1, 2019)

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