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Mining Bulletin

The full story: In-depth news and analysis

SIRIUS MINERALS PULLS BACK FOR 6-MONTH REVIEW AFTER PROJECT FUNDING PLAN FAILS

Massive UK fertiliser development project slowed for major strategic rethink after market conditions force it to abandon a $500M key funding program.

VRX SILICA SCORES FOR THE 2ND TIME AT ARROWSMITH

VRX Silica has produced a 2nd positive BFS supporting 2 of its 3 advanced silica sand projects in Western Australia. By Mark Mentiplay

TITAN MINERALS SIGNALS NEW CORE GOLD MERGER PLAN AFTER BC COURT SETBACK

South American miners Titan Minerals and Core Gold are set to try again to pool their resources into an emerging regionally focused gold company after the British Columbia Supreme Court rejected their previous scheme of arrangement

HAVILAH RES SHAREHOLDERS REJECT $100M GFG DEAL

The reversal of a decision by developer Havilah Resources’ major shareholder to back a $100M GFG investment in the company has seen the bid rejected. By Mark Mentiplay

TNG SEES POSITIVES IN NEW CHEAPER, SMALLER MOUNT PEAKE DEVELOPMENT STRATEGY

A change to a smaller and cheaper development strategy could make it easier for developer TNG to reach a final investment decision and gain financial approvals for its Mount Peake project in Australia’s Northern Territory.

NEW POX HUB FIRES PETROPAVLOVSK H1 19 PROFIT

A good Petropavlovsk H1 19 has seen all the good things up and the bad things down for a $54M turnaround to a $14M profit underpinned by a successfully ramping POX hub

$20M SPROTT BUY INTO GALENA SILVER MINE

Americas Gold and Silver’s major shareholder Eric Sprott buying 40% of America’s Galena silver mine for $20M

SYRAH SLASHES FLAKE GRAPHITE PRODUCTION AMID PLUNGING CHINESE SPOT PRICES

Battery materials market uncertainty hits the flake graphite suppliers, with Syrah Resources cutting output from its Balama operation in Mozambique by 66% due to falling spot prices and over-supply concerns.

INTEGRA RES PEA FLAGS $365M US PROJ PRODUCING LoM 1.24Moz AuEq

New study sees Integra Res’ Idaho heap leach operation generating $697M after tax cash flow over an initial 10-year LoM from 1.24Moz AuEq ouput

TANZANIA THREATENS TO HALT INTRA ENERGY COAL SALES OVER NEW ROYALTY CHARGES

Tanzania’s Mining Commission orders major regional coal producer Tancoal to charge customers hefty new royalties on the transportation costs of thermal coal sales.

ZIMPLATS FY19 PROFIT ROCKETS TO $145M

A string of financial benefits, not big production increases or cost cuts, have fuelled a FY19 $145M net profit from a $2.6M profit the year before

RECORD FY 19 FOR INDEPENDENCE GROUP

Miner Independence Group racks up a string of records to lift its FY 19 NPAT 44% to $76M. By Mark Mentiplay

RESOLUTE MINING TAKES THE FIRST STEP ON ITS MAJOR RAVENSWOOD GOLD MINE EXPANSION

Australian international gold producer Resolute Mining expects to lift 2020 production at its Ravenswood mine to 80,000oz after pressing the go button on Stage 1 of the expansion plan at its long-lived Queensland operation. John Feary reports

H1 19 $84M PROFIT PLUNGE AS OZ MINS AWAITS CARRAPATEENA

Shipment timing and big growth investments have pushed OZ Mins’ H1 19 profit down $84m to $44M

END TO KANMANTOO MINING SEES 9.2% HILLGROVE H1 19 PROFIT FALL

The end of mining at Hillgrove’s Kanmantoo Cu-Au mine in S Australia has the operation running on stockpiles, for lower output and cutting H1 19 profit 9.2%.

GOLD FIELDS SELLS OUT OF GOLD ROAD FOR $126.3M

Gold Fields has sold its 10% stake in J/V partner Gold Road Res for $1126.3M, but is hanging on to its 50% of the Gruyere Gold Project. By Mark Mentiplay

KOOLYANOBBING DELAYS CUT MINERAL RES FY19 PROFIT 39%

Delayed acquisition/ramp up of the Koolyanobbing Iron Ore Project and the ending of Wodgina lithium DSO sales slash Mineral Res FY19 profit 39%

NEW $20M+ MINERAL RES DEAL FOR CAZALY’S WA IRON ORE PROJ

Cazaly Res has accepted a new superior $20M+ offer for its Parker Range Iron Ore Project from neighbouring producer Mineral Res. By Mark Mentiplay

MAIDEN KENMARE H1 19 DIV DESPITE PROFIT FALL

Maiden Kenmare dividend follows 17% H1 19 profit fall on HMC production down 8%, but with ilmenite, zircon and rutile all up

PROPHECY ASSETS RESHUFFLE FLAGS 2 SPIN-OFFS

Prophecy Devel is setting up to spin off its Bolivian silver and Mongolian assets as its US Vanadium operation closes on 1st production in 2022
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START THE WEEK: COMMODITIES (Aug 9, 2019)

LME ($US), Aug 9 –
Aluminium 1,746.00
Copper 5,744.00
Zinc 2,262.50
Nickel 15,620.00
Lead 2,086.00
Tin 16,900.00
Cobalt 28,500.00
Gold 1,497.90
Silver 16.975

COMEX ($US), Aug 9 –
Gold 1,508.00
Copper 2.5945
Silver 16.945

LBMA price data ($US), pm Aug 9 –
Gold 1,497.70
Silver 17.00000
Platinum 863.00
Palladium 1,432.00

NYMEX ($US) 62% Fe CFR China, Aug 9 -
Iron ore 93.61

START THE WEEK: CALENDAR (Aug 11, 2019)

Conferences –
Aug 15-17: Mining, Material and Metallurgical Engineering, Lisbon (Portugal)

Companies –
Aug 12: Aurizon Holdings FY, Brisbane (Australia)
Aug 12: Barrick Gold Q2, Toronto (Canada)
Aug 15: Gold Fields HY, Johannesburg (S Africa)

START THE WEEK: COMMODITIES (August 2, 2019)

LME ($US), Aug 2 –
Aluminium 1,749.00
Copper 5,769.00
Zinc 2,352.00
Nickel 14,520.00
Lead 1,950.50
Tin 17,300.00
Cobalt 26,000.00
Gold 1,445.40
Silver 16.260

COMEX ($US), Aug 2 –
Gold 1,452.70
Copper 2.5675
Silver 16.225

LBMA price data ($US), pm Aug 2 –
Gold 1,441.75
Silver 16.19500
Platinum 841.00
Palladium 1,389.00

NYMEX ($US) 62% Fe CFR China, Aug 2 -
Iron ore 106.51

START THE WEEK: CALENDAR (August 5, 2019)

Conferences –
Aug 4-7: Diggers & Dealers, Kalgoorlie (Australia)

Companies –
Aug 7: Albemarle Q2, Charlotte NC (USA)

START THE WEEK: COMMODITIES (July 26, 2019)

LME ($US), Jul 26 –
Aluminium 1,778.00
Copper 5,945.00
Zinc 2,423.00
Nickel 14,060.00
Lead 2,075.00
Tin 17,830.00
Cobalt 26,000.00
Gold 1,419.30
Silver 16.380

COMEX ($US), Jul 26 –
Gold 1,431.80
Copper 2.691
Silver 16.41

NYMEX ($US) 62% Fe CFR China, Jul 26 -
Iron ore 120.11

LBMA price data ($US), pm Jul 26 –
Gold 1,420.40
Silver 16.44000
Platinum 865.00
Palladium 1,531.00

START THE WEEK: CALENDAR (July 28, 2019)

Conferences –
Jul 30-Aug 2: Sprott Natural Resource Symposium, Vancouver (Canada)

Companies –
Jul 29: Red River Resources 1/4, Perth (Australia)
Jul 29: Lynas 1/4, Sydney (Australia)
Aug 1: Alacer Gold Q2, Toronto (Canada)
Aug 1: Rio Tinto HY, London (UK)

START THE WEEK: COMMODITIES (July 19, 2019)

LME ($US), Jul 19 –
Aluminium 1,833.00
Copper 6,066.00
Zinc 2,427.00
Nickel 14,425.00
Lead 2,071.50
Tin 17,780.00
Cobalt 28,500.00
Gold 1,425.70
Silver 16.175

COMEX ($US), Jul 19 –
Gold 1,426.50
Copper 2.741
Silver 16.23

NYMEX ($US) 62% Fe CFR China, Jul 19 -
Iron ore 120.99 

LBMA price data ($US), pm Jul 19 –
Gold 1,439.70
Silver 16.31500
Platinum 854.00
Palladium 1,534.00

START THE WEEK: CALENDAR (July 22, 2019)

Conferences –
Jul 25-26: Mining Investment India, New Delhi (India)

Companies –
Jul 22: Saracen Mineral Holdings Q4, Perth (Australia)
Jul 25: OceanaGold Q2, Melbourne (Australia)
Jul 25: Pilbara Minerals Q4, Perth (Australia)

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)

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Mining Billboard

Insights and analysis from leading industry commentators

MINI-BOOM TO CHALLENGE AUSTRALIAN MINING SECTOR’S SKILLS PIPELINE CAPACITY

(DEVELOPMENT) The Australian mining sector and government face significant new challenges in workforce planning strategies, skills and labour mobility initiatives to meet the forecast demand of new project developments through to 2024 – challenges they have consistently failed to meet in past booms.

NEW $2.6B BRAZILIAN IRON ORE MINE MOOTED

3 Chinese companies and others are considering a new Brazilian iron ore start-up in a J/V led by Kazakh miner Eurasian Resources

BHP CHOICE OF KOMATSU HAUL TRUCKS FOR SOUTH FLANK A NEW STEP IN MINING AUTONOMY

(TECHNOLOGY) The switch by BHP Iron Ore to ordering 41 Komatsu 930E-5 haul trucks for the autonomous haulage fleet at the largest mining and processing development in the 50-year history of WA’s Pilbara iron ore province, its $US4.6B South Flank development, underlines the rapid progress in autonomous technology systems.

COLONIAL COAL LOOMS AS LIKELY TARGET FOR RINEHART’S PUSH INTO CANADIAN MET COAL

(COMMENTARY) Could Australian entrepreneur Gina Rinehart be on the prowl for more aggressive moves into the Canadian metallurgical coal sector? Leading mining commentator Ross Louthean reports on speculation that her next target may be BC-focused Colonial Coal International.

WELBORN WARNS AUSTRALIAN FAILURES ALLOW CHINA TO SEIZE AFRICAN OPPORTUNITIES

(COMMENTARY) Australia’s failure to recognise the wider causes and impact of global trade tensions between China and the US is allowing China to snare the lion’s share of the opportunities emerging in the rapid growth of Africa, Resolute Mining chief John Welborn has warned.

GOLD FIELDS’ BOSS GIVES GOLD SECTOR A COSTS SPRAY

Global gold major Gold Fields’ CEO Nick Holland has given his fellow miners a big spray on a number of issues he says could be hiding the true state of a declining world gold sector
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Mining Brokers

DATADIGGING: BHP SOUTH FLANK CONTRACT AWARDS

    START THE WEEK: COMMODITIES (Sept 6, 2019)

      START THE WEEK: CALENDAR (Sept 8, 2019)

        START THE WEEK: COMMODITIES (Sep 2, 2019)

          START THE WEEK: CALENDAR (Sep 2, 2019)

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