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Mining Bulletin

The full story: In-depth news and analysis

NULLAGINE GUIDANCE SLASHED AS MILLENNIUM MINERALS TACKLES ISSUES SLOWING KEY UPGRADES

Major shareholder IMC Group offers a $20M working capital lifeline as WA miner Millennium Minerals works to remedy Nullagine production shortfall. John Feary reports

NEW NUMBERS FLAG 40% CODELCO COPPER MINE FALL OVER 2-YEARS

Codelco internal forecast sees 40% prodn fall from its huge Chuquicamata Copper Mine in Chile over the next 2-years as it moves underground

PFS OUTLINES A FAST PATH TO REVENUE FOR TALGA’S VITTANGI GRAPHITE PROJECT IN SWEDEN

The PFS for Talga Resources’ Vittangi graphite project in Sweden points to early revenue from a low-cost first stage development plus NPV of over $US1B for the full-scale operation.

$9.5M NICKEL MINE DEAL BOOSTS MINCOR’S KAMBALDA RESTART STRATEGY

Hard on the heels of a big resource increase and a new off-take agreement, Mincor Resources has signed $9.5M deal to buy the 32,000t nickel resource Long Nickel mine to accelerate its Kambalda nickel restart strategy. By Mark Mentiplay

BARRICK OFFERS $285M TO BUY ACACIA MINING OUT OF ITS PEACE TALKS WITH TANZANIAN GOVERNMENT

Barrick Gold acquiesces Tanzanian government demands to exclude management of Acacia Mining from negotiations to end their damaging stand-off with the regime of President John Magufuli, proposing a hostile share-swap takeover of its subsidiary.

GLOBAL MINER VEDANTA PLUNGES FROM PROFIT TO FY19 $237M LOSS

Lower commodity prices, a smelter shutdown and a major steel acquisition have helped push Vedanta Resources from a FY18 $239M profit to a FY19 $237M loss

GLOBAL LITHIUM MAJOR GANFENG INTO BACANORA FOR £22M

World lithium major Ganfeng is buying 30% of Bacanora Lithium and 22.5% of its advanced Mexican lithium project for £22M, with options for more

BIG PEA NUMBERS IN SOLGOLD’S $10B+ ECUADOR Cu-Au-Ag PROJECT

4 scenario development options have been laid out in SolGolds’ PEA for its majority- owned Cascabel copper-gold-silver project costing up to $10.5B and generating some impressive production numbers for up to 66-years. By Mark Mentiplay

WARNINGS RAISE DANGER OF THIRD MAJOR BRAZILIAN IRON ORE DAM COLLAPSE

Monitors detect material movement in a disused Vale iron ore mine that raises alarm over the potential risk of another collapse in Brazil’s Minas Gerais state.

PEA GREEN LIGHT FOR SILVERCREST’S $150M LAS CHISPAS PROJ

New study flags $100M pa net free cash flow over an initial 8.5-year LoM from SilverCrest Metals’ $150M capex Las Chispas silver-gold project in Mexico

ORVANA BACK IN BLACK, WITH PRODN UP, COSTS DOWN

Higher production and lower costs from its Spanish/Bolivian operations has seen Orvana Minerals post a loss-$3.3M profit turnaround

PEMBROKE SEES 80-YEAR LIFE WITH STATE OKAY FOR BOWEN BASIN COKING COAL PRODUCER

Pembroke Resources expects the strong demand from Asian steelmakers for high-quality coking coal to sustain an eight-decade mine life for its Olive Downs mine in Australia’s Bowen Basin.

TIGERS REALM LIFTS FY19 RUSSIAN COAL PRODN FOLLOWING FY18 $11M PROFIT

$11M FY18 profit underpins Tigers Realm’s increase in FY19 Russian coking coal prodn expectations to its 10Mtpa target

ACACIA HITS BACK AT BARRICK OVER TANZANIAN TAX ROW

Barrick has again raised the buyout option for majority-held Acacia after Acacia hit back at claims it’s an obstacle in resolving the long running tax dispute with the Tanzanian govt

ACACIA APRIL GOLD SURGE DUE TO DISPUTED N MARA MINE PRODN

The need for an urgent settlement of the Acacia Mining/Tanzanian govt N Mara dispute underpinned by the mine’s April 54% gold jump

SOUTH AFRICAN ASSETS MAY GO IN ANGLOGOLD ASHANTI PORTFOLIO STREAMLINING

Less than a year after completing a major restructuring, AngloGold Ashanti has announced it is considering plans to divest its remaining South African assets as part of a continuing process to streamline its international gold mine portfolio.

$6.7M FX GAIN HELPS TASEKO CUT Q1 19 LOSS TO $8M

Bad weather, bad start to FY/CY19 despite FX gain-assisted Q1 19 net loss cut on revenue/cash flow plunges

PILE-UP OF PROBLEMS SLASH VALE Q1 PRODUCTION AFTER BRAZILIAN DAM DISASTER

A disastrous three month period that followed the Brumandinho tailings dam rupture in January has resulted in Vale sustaining significant reductions in output and sales of iron ore, coal, nickel and copper in the March quarter.

LEPIDICO’S DESERT LION DEAL TO SET UP INTEGRATED LITHIUM MINER-PROCESSOR

Lepidico share-swap merger deal with Desert Lion Energy sets the basis to create a global leader in the development of lithium chemicals.

KIRKLAND KICKS OFF FY/CY19 WITH RECORD Q1 19 $110.1M PROFIT

Q1 19 records in all the right places prompts Kirkland Lake Gold to lift FY/CY19 expectations to 950,000oz+, with costs down
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START THE WEEK: CALENDAR (Feb 11, 2019)

Public holidays –
Feb 10: Vasant Panchami (India)
Feb 10: Basant Panchami (Pakistan)
Feb 10: Tet Holiday (Vietnam)
Feb 11: National Foundation Day (Japan)
Feb 11: Armed Forces Day (Liberia)
Feb 11: Revolution Day (Iran)
Feb 12: Union Day (Myanmar)
Feb 14: Valentine’s Day (Various)
Feb 15-16: Statehood Day (Serbia)
Feb 16: Independence Day/National Day (Lithuania)
Feb 16: Kim Jong Il Birthdate (North Korea)
Feb 16: Archbishop Janani Luwum Remembrance (Uganda)

START THE WEEK: COMMODITIES (Feb 8, 2019)

LME ($US), Feb 8 –
Aluminium 1,865.00
Copper 6,207.00
Zinc 2,688.50
Nickel 12,735.00
Lead 2,066.00
Tin 21,050.00
Cobalt 33,000.00
Gold 1,314.80

COMEX ($US), Feb 8 -
Gold 1,318.20
Copper 2.8135
Silver 15.825

NYMEX ($US) 62% Fe CFR China, Feb 8 -
Iron ore 92.13

LBMA price data ($US), pm Feb 8 –
Platinum 799.00
Palladium 1,394.00

DATADIGGING: THE LATEST ON LITHIUM

Click on the company name to read recent reports on lithium mining, development and exploration:
• ADVANTAGE LITHIUM 
• ALBEMARLE CORPORATION 
• ALLIANCE MINERAL ASSETS  

START THE WEEK: COMMODITIES (Feb 1, 2019)

LME ($US), Feb 1 –
Aluminium 1,872.50
Copper 6,097.50
Zinc 2,732.50
Nickel 12,460.00
Lead 2,093.00
Tin 20,830.00
Cobalt 34,000.00
Gold 1,317.70

COMEX ($US), Feb 1 -
Gold 1,322.00
Copper 2.771
Silver 15.91

NYMEX ($US) 62% Fe CFR China, Feb 1 -
Iron ore 86.93 

LBMA price data ($US), pm Feb 1 –
Platinum 825.00
Palladium 1,368.00

START THE WEEK: CALENDAR (Feb 4, 2019)

Public holidays –
Feb 3: Heroes Day (Mozambique)
Feb 3-9: Tet Holiday (Vietnam)
Feb 4: Liberation Movement Day (Angola)
Feb 4: Spring Festival Eve (China)
Feb 4: Constitution Day Holiday (Mexico)
Feb 4: National Day (Sri Lanka)
Feb 4-5: Seollal Holiday (Republic of Korea)
Feb 4-9: Chinese New Year
Feb 5: Constitution Day (Mexico)
Feb 5: Kashmir Day (Pakistan)
Feb 6: Spring Festival Golden Week Holiday (China)
Feb 6: Waitangi Day (New Zealand)
Feb 6: Saami People's Day (Norway)

DATADIGGING: THE DECEMBER 2018 QUARTERLIES

Click on the company name to read our original report on its December 2018 quarterly report:

START THE WEEK: COMMODITIES (Jan 25, 2019)

LME ($US), Jan 25 –
Aluminium 1,866.50
Copper 5,901.00
Zinc 2,635.50
Nickel 11,715.00
Lead 2,085.00
Tin 20,750.00
Cobalt 36,000.00
Gold 1,298.60

COMEX ($US), Jan 25 -
Gold 1,308.70
Copper 2.733
Silver 15.75

NYMEX ($US) 62% Fe CFR China, Jan 25 -
Iron ore 74.64

LBMA price data ($US), pm Jan 25 –
Platinum 812.00
Palladium 1,331.00

START THE WEEK: CALENDAR (Jan 28, 2019)

Public holidays –
Jan 28: Australia Day Holiday (Australia)
Jan 28: Army Day (Armenia)
Jan 28: Jose Marti Birthday Memorial (Cuba)
Jan 28: Auckland/Northland Anniversary Day (New Zealand)
Jan 30: Three Holy Hierarchs (Greece)
Feb 1: Federal Territory Day, regional (Malaysia)
Feb 1: Abolition of Slavery (Mauritius)
Feb 1: National Heroes' Day (Rwanda)
Feb 2: Feast of Candelaria (Bolivia)
Feb 2: Tet Holiday (Vietnam)

Conferences –
Jan 29-31: AME Roundup 2019, Vancouver (Canada)

START THE WEEK: COMMODITIES (Jan 18, 2019)

LME ($US), Jan 18 –
Aluminium 1,851.00
Copper 6,022.00
Zinc 2,577.00
Nickel 11,610.00
Lead 1,972.00
Tin 20,900.00
Cobalt 38,000.00
Gold 1,283.10

COMEX ($US), Jan 18 -
Gold 1,281.10
Copper 2.712
Silver 15.36

NYMEX ($US) 62% Fe CFR China, Jan 18 -
Iron ore 75.15 

LBMA price data ($US), pm Jan 18 –
Platinum 801.00
Palladium 1,375.00

START THE WEEK: CALENDAR (Jan 21, 2019)

Public holidays –
Jan 20: Epiphany (Ethiopia)
Jan 20: Heroes Day (Guinea-Bissau)
Jan 20: Duruthu Full Moon Poya Day (Sri Lanka)
Jan 21: Martin Luther King Jr Day (USA)
Jan 21: Thaipusam (Malaysia regions, Mauritius)
Jan 21: Princess Ingrid Alexandra Day (Norway)
Jan 21: Our Lady of Altagracia (Dominican Republic)
Jan 22: Plurinational State Foundation Day (Bolivia)
Jan 24: Unification Day (Romania)
Jan 25: Revolution Day (Egypt)
Jan 26: Australia Day (Australia)
Jan 26: Republic Day (India)

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Mining Billboard

Insights and analysis from leading industry commentators

TUG OF WAR LOOMS AS AUSTRALIAN MINE PROFESSIONALS TACKLE FRUGAL BOSSES

(EMPLOYMENT) A survey by global professional recruiting group Hays predicts a ‘tug of war’ over salaries as the Australian mining sector emerges from its prolonged employment slump with skill shortages start to emerge.

GEMFIELDS TACKLES ZAMBIAN ROYALTY HIKES AFTER POSTING RECORD EMERALD AUCTION PRICES

(SOVEREIGN RISK) The world’s leading supplier of emeralds, rubies and other coloured gemstones continues the mining sector’s attempts to tackle the Zambian government over its demands for a greater share of mineral resource profits.

ADANI COULD BE THE BIGGEST WINNER IN AUSTRALIA’S SHOCK FEDERAL POLL RESULT

(COMMENTARY) Indian conglomerate Adani Group’s long-stalled plans for a massive thermal coal development are likely to find a much more sympathetic official ear after Australian voters swung solidly behind the jobs and development rhetoric of incumbent PM Scott Morrison at the weekend.

LOUTHEAN LINE: NZ GREEN ALLIANCE HIGHLIGHTS POLITICAL RISK FOR AUSTRALIAN MINERS

Does New Zealand offer some lessons for Australian voters as they prepare for Australia’s federal election this weekend? Veteran mining journalist and commentator ROSS LOUTHEAN has unmatched experience in covering the resources sector in both countries, and sees significant risks if Australia’s Greens win the level of influence on government as their Kiwi counterparts.

VALE COUNTS THE INITIAL FINANCIAL COSTS OF BRAZILIAN DAM BURST TRAGEDY

(FINANCIAL) Fifteen weeks after the collapse of a tailings dam wall at its Córrego do Feijão iron ore mine, Brazilian mining giant Vale has published the first comprehensive statement of the financial implications of the disaster in its March quarterly report.

BRITAIN’S 1ST COAL-FREE ELECTRICITY WEEK

Britain’s 1st coal-free electricity week sets the stage for complete alternate power generation by 2025
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Mining Brokers

START THE WEEK: COMMODITIES (May 17, 2019)

    START THE WEEK: CALENDAR (May 19, 2019)

      START THE WEEK: COMMODITIES (May 10, 2019)

        START THE WEEK: CALENDAR (May 12, 2019)

          START THE WEEK: COMMODITIES (May 3, 2019)

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