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Mining Bulletin

The full story: In-depth news and analysis

MANDALAY FLAGS BIG FY20 IMPROVEMENT FROM FY19 FALL

Mandalay Resources is expecting a big improvement in FY2020 gold production after an Aussie-led fall in FY19

RIO TINTO BACKS MORE GLOBAL STABILITY TO SUPPORT HIGHER FY2020 IRON ORE FORECAST

World iron ore leader Rio Tinto predicts 3% increase in Pilbara shipments after first-half weather and operational challenges restrict FY2019 production.

IAMGOLD FY19 PRODN PLUNGE, WITH COSTS UP

IAMGOLD sees some new light after FY19 gold prodn fall to 762,000oz, with 2020 expecting about the same, but 2021 hoping for the top end of 760,000oz-840,000oz

RESOLUTE MINING TIGHTENS FOCUS ON AFRICA AFTER $300M RAVENSWOOD MINE SALE

Specialist Australian resources-focused private equity group EMR Capital has added a third Queensland mine to its international portfolio of eight major mines and projects with its up to $A300M acquisition of the Ravenswood gold mine in north Queensland from Resolute Mining.

2020 VISION SEES HALF-MILLION-OUNCE BREAKTHROUGH FOR RESOLUTE MINING

After a disappointing 2019, Resolute Mining is ready to cash in on strong production growth, lower operating costs and reduced capital demands in the coming 12 months. John Feary reports

CONZINC PREPARES FOR COMPLEX $1.3M FIGHT OVER SACKING OF MEXICAN CONTRACTOR

Consolidated Zinc admits it has been blindsided by the launching of complex legal proceedings launched by contractor Ganti over the termination of its mining contract at the Plomosas zinc-lead-silver mine in northern Mexico.

SIEMENS TO HONOUR AUSSIE ADANI COAL DEAL

Big German engineer Siemens says that while it will honour its contract to participate in the Adani Group’s controversial Carmichael thermal coal project in Australia, it should have been wiser at the outset.

‘LOST’ RESOURCES LEAVE EVOLUTION FACING 25,000oz GOLD SHORTFALL AT MT CARLTON MINE

Australian miner Evolution has drastically worsened production and cost forecasts at its Mt Carlton gold mine in North Queensland after drilling significantly reduced ore resources it had expected to be mining over the next six months.

€52M LOAN ALLOWS GULF MANGANESE TO BRING KUPANG SMELTER INTO PRODUCTION THIS YEAR

The long wait for funding is over, with the finalisation of a €52M structured loan facility allowing Gulf Manganese to complete development of the first two smelters at its Kupang Smelting Hub project in the West Timor province of Indonesia.

DFS HIGHLIGHTS POTENTIAL MUNGLINUP ROLE IN GLOBAL GRAPHITE SUPPLY STRATEGY

Australian-based miner Mineral Commodities advances a vertically integrated strategy supplying graphite concentrate to key battery markets through its Munglinup project in Western Australia and Skaland project in Norway. John Feary reports

CONTRACTOR SWITCH TO ASSIST TURNAROUND AT PANORAMIC’S NICKEL SAVANNAH MINE

Resources expects to name the preferred underground mining contractor for its Savannah nickel project in Western Australia after identifying the switch from owner mining as a key to overcome the equipment reliability issues that have dogged the mine over the past year. John Feary reports

SUPER PIT SALE TAKES NEWMONT 2019 PROCEEDS TO TARGETED $1.4B+

The conclusion of the $800M sale of Western Australia’s big super pit gold project has taken Newmont to the top of its 2019 $1.5B cash target

PRESS RELEASE DELIVERS MORE BAD NEWS FOR PRAIRIE MINING’S POLISH STAND-OFF

A media statement by a neighbour and rival mining company spells more trouble for Australian-based Prairie Mining in its dispute with the Polish government over its two coal development projects.

NORTHERN STAR TO LEAD ALL-AUSTRALIAN TEAM IN CHARGE OF THE KALGOORLIE SUPER PIT

Australian gold miner Northern Star Resources is set to make the leap to the 1Moz annual production level with its $800M deal to take management control of the Kalgoorlie Super Pit in WA, making up an all-local ownership team with Saracen Mineral Holdings. John Feary reports

EQUINOX LAUNCHES $580M BID FOR LEAGOLD

Equinox Gold has launched a $580M all-share bid for fellow Canadian gold miner Leagold that’s targeting an average 1Moz pa during 2021

ENDEAVOUR MINING MERGER TALKS WITH CENTAMIN

Weekend merger talks follow gold-miner Centamin’s rejection of a $1.9B all-scrip takeover bid from Endeavour Mining

GHANA MINE CONTRACT LOSS DELIVERS 16% CUT IN PERENTI’S FY20 NET PROFIT GUIDANCE

Challenges keep mounting for African Mining Services with the termination of its ongoing surface mining, load and haul contract at the Nsuta manganese mine in Ghana forcing a 16% cut in its FY20 net profit forecast.

TASMAN $15M TO RESTART NZ GOLD MINE

Tasman Mining is looking for more cash after securing $15M from the NZ Govt to restart the 695,000oz Blackwater Gold Project on NZ’s South Island. By Mark Mentiplay

FLOODS/POWER CUTS HIT SA MINING PRODUCTION

Widespread flood-generated power cuts are shutting down mining operations across South Africa

TERANGA BUYS 90% OF SENEGAL GOLD PROJ FOR UP TO $430M

In another big sale, Barrick Gold and its J/V partner are selling 90% of their Senegalese gold project to Teranga Gold for up to $US430M
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START THE WEEK: COMMODITIES (Jan 10, 2020)

LME ($US), Jan 10 –
Aluminium 1,771.50
Copper 6,157.00
Zinc 2,382.00
Nickel 14,050.00
Lead 1,922.00
Tin 17,275.00
Cobalt 32,500.00
Gold 1,558.70
Silver 18.080

COMEX ($US), Jan 10 –
Gold 1,563,20
Silver 18.13
Copper 2.81
Platinum 983.9
Palladium 2,073.6

LBMA price data ($US), pm Jan 10 –
Gold 1,553.60
Silver 17.91500
Platinum 969.00
Palladium 2,110.00

NYMEX ($US) 62% Fe CFR China, Jan 10 -
Iron ore 93.56

START THE WEEK: CALENDAR (Jan 13, 2020)

Public holidays –
Jan 13: Coming of Age Day (Japan)
Jan 13: Constitution Day (Mongolia)
Jan 14: Lohri (India)
Jan 14: Revolution and Youth Day (Tunisia)
Jan 14: Defenders of the Motherland Day (Uzbekistan)
Jan 14: Orthodox New Year
Jan 15: John Chilembwe Day (Malawi)
Jan 16: Anniversary of President Laurent Kabila’s Assassination (DR Congo)
Jan 17: Anniversary of Prime Minister Patrice Emery Lumumba’s Assassination (DR Congo)

START THE WEEK: COMMODITIES (Jan 3, 2020)

LME ($US), Jan 3 –
Aluminium 1,758.00
Copper 6,077.00
Zinc 2,284.00
Nickel 13,740.00
Lead 1,889.50
Tin 16,750.00
Cobalt 32,000.00
Gold 1,549.70
Silver 18.100

COMEX ($US), Jan 3 –
Gold 1,555,20
Silver 18.095
Copper 2.7805
Platinum 988.50
Palladium 1,957.50

LBMA price data ($US), pm Jan 3 –
Gold 1,548.75
Silver 18.21000
Platinum 983.00
Palladium 1,977.00

NYMEX ($US) 62% Fe CFR China, Jan 3 -
Iron ore 93.41

START THE WEEK: CALENDAR (Jan 6, 2020)

Public holidays –
Jan 6: Army Day (Iraq)
Jan 6: Three Wise Men Day (Peru)
Jan 6-8: New Year Holiday Week (Russia)
Jan 7: Orthodox/Coptic Christmas
Jan 7: Victory over Genocide Day (Cambodia)
Jan 7: Constitution Day (Ghana)
Jan 7: Pioneers Day (Liberia)
Jan 9: Martyr’s Day (Panama)
Jan 9: Peace Agreement Day (South Sudan)
Jan 10: Duruthu Full Moon Poya Day (Sri Lanka)
Jan 11: Anniversary of the Independence Manifesto (Morocco)
Jan 11: Eugenio María de Hostos Birthday (Puerto Rico)

START THE WEEK: COMMODITIES (Dec 27, 2019)

LME ($US), Dec 27 –
Aluminium 1,789.00
Copper 6,211.00
Zinc 2,296.00
Nickel 14,000.00
Lead 1,910.00
Tin 17,100.00
Cobalt 32,500.00
Gold 1,513.30
Silver 17.870

COMEX ($US), Dec 27 –
Gold 1,515.60
Silver 17.83
Copper 2.8245
Platinum 953.10
Palladium 1,875.40

LBMA price data ($US), pm Dec 27 –
Gold 1,511.50
Silver 17.82500
Platinum 916.00
Palladium 1,853.00

NYMEX ($US) 62% Fe CFR China, Dec 27 -
Iron ore 91.55

START THE WEEK: CALENDAR (Dec 30, 2019)

Public holidays –
Dec 29: Independence Day (Mongolia)
Dec 30: New Year Special Holiday (Thailand)
Dec 31: World Solidarity Day (Azerbaijan)
Jan 1: New Year’s Day
Jan 1: Restoration Day (Czechia)
Jan 1: Establishment Day (Slovakia)
Jan 1: Independence Day (Sudan)\
Jan 1: Republic Day (Taiwan)
Jan 2: Public Holiday (Botswana)
Jan 2: Heroes’ Day/Ancestors’ Day (Haiti)
Jan 2: Berchtold Day (Switzerland)
Jan 3: Popular Uprising Day (Burkina Faso)
Jan 4: Independence Day (Myanmar)

START THE WEEK: COMMODITIES (Dec 20, 2019)

LME ($US), Dec 20 –
Aluminium 1,770.50
Copper 6,155.50
Zinc 2,341.00
Nickel 14,220.00
Lead 1,909.00
Tin 17,260.00
Cobalt 32,500.00
Gold 1,477.30
Silver 17.085

COMEX ($US), Dec 20 –
Gold 1,482.40
Silver 17.265
Copper 2.8035
Platinum 918.90
Palladium 1,822.30

LBMA price data ($US), pm Dec 20 –
Gold 1,479.00
Silver 17.03500
Platinum 936.00
Palladium 1,930.00

NYMEX ($US) 62% Fe CFR China, Dec 20 -
Iron ore 91.74

START THE WEEK: CALENDAR (Dec 23, 2019)

Public holidays –
Dec 23: Unity Day Observation (Zimbabwe)
Dec 23-29: Hannukah (Israel)
Dec 24: Independence Day (Libya)
Dec 24: Additional Special Non-Working Day (Philippines)
Dec 24: Cuti Bersama (Indonesia)
Dec 25: Christmas
Dec 25: Family Day (Mozambique)
Dec 25: Quaid-e-Azam Day (Pakistan)
Dec 26: Boxing Day
Dec 26: Kayin New Year Day (Myanmar)
Dec 26: Family Day (Namibia)
Dec 26: Independence and Unity Day (Slovenia)
Dec 26: National Day of Thanksgiving (Solomon Id)

START THE WEEK: COMMODITIES (Dec 13, 2019)

LME ($US), Dec 13 –
Aluminium 1,763.50
Copper 6,154.00
Zinc 2,279.00
Nickel 14,145.00
Lead 1,934.00
Tin 17,200.00
Cobalt 34,500.00
Gold 1,476.40
Silver 16.945

LBMA price data ($US), pm Dec 13 –
Gold 1,446.60
Silver 16.93500
Platinum 933.00
Palladium 1,971.00

NYMEX ($US) 62% Fe CFR China, Dec 13 -
Iron ore 92.27

START THE WEEK: COMMODITIES (Dec 6, 2019)

LME ($US), Dec 6 –
Aluminium 1,750.50
Copper 5,867.50
Zinc 2,250.00
Nickel 13,420.00
Lead 1,881.00
Tin 16,875.00
Cobalt 35,000.00
Gold 1,461.10
Silver 16.575

LBMA price data ($US), pm Dec 6 –
Gold 1,459.65
Silver 16.94000
Platinum 898.00
Palladium 1,872.00

NYMEX ($US) 62% Fe CFR China, Dec 6 -
Iron ore 88.56

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Mining Billboard

Insights and analysis from leading industry commentators

SCOPING STUDY POINTS TO 50% EXPANSION PLAN FOR S AFRICA'S TSHIPI BORWA MANGANESE MINE

(DEVELOPMENT) JV partners Ntsimbintle Mining and Jupiter Mines will begin feasibility studies following positive base case scoping study outcome for expansion of South Africa’s largest manganese mine.

DESPITE RECORD FALL IN COAL POWER, ASIAN ENERGY DEMAND IS STILL KEY TO GLOBAL DEMAND

(COMMENTARY) Coal faces a perfect storm with public opposition continuing to grow, many countries mulling stronger climate and environmental policies, and renewables and natural gas becoming more competitive, but the International Energy Agency says it’s too early to suggest it’s the start of a lasting trend.

THACKARINGA COBALT FEUD ADDS TO BROKEN HILL’S COLOURFUL MINING HISTORY

(COMMENTARY) Renowned mining journalist, author and commentator Ross Louthean reports on the end of a feud at Broken Hill, the historic home of many of Australia’s most colourful mining characters and events – the belated resolution of the confrontation between the partners in the Thackaringa cobalt prospect.

LYNAS SIGNS OPTION OVER KALGOORLIE SITE FOR MT WELD RARE EARTHS PROCESSING PLANT

(DOWNSTREAM) The long mining and processing history of the Australian outback city of Kalgoorlie nears a new step with the selection of a development site for a major rare earths downstream facility by Lynas Corporation alongside a proposed lithium hydroxide project.

AUSSIE SEPT QTR GOLD PRODUCTION EASES

Analyst flags Dec 2019 qtr Australian gold output rise after Sept qtr fall as local gold mine control doubles to 60% from 2002

TRANSFORMATION LOOMS FOR NRW WITH $310M ACQUISITION OF BGC CONTRACTING

(ENGINEERING) Australian engineer NRW is set for a significant step up in the range, geographical spread and scale of its operations with the $310M agreement to acquire BGC Contracting, the national mining and construction arm of the giant private business left by WA entrepreneur Len Buckeridge. John Feary reports
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Mining Brokers

START THE WEEK: COMMODITIES (Jan 10, 2020)

    START THE WEEK: CALENDAR (Jan 13, 2020)

      START THE WEEK: COMMODITIES (Jan 3, 2020)

        START THE WEEK: CALENDAR (Jan 6, 2020)

          START THE WEEK: COMMODITIES (Dec 27, 2019)

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