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Mining Bulletins

The full story: In-depth news and analysis

Orion Minerals’ bankable feasibility study confirms strong economics for a new long-life, high-margin copper and zinc operation in the footprint of South Africa’s historic Prieska mine.

Australian mining contractor Macmahon is confident it can compete more strongly for work across the openpit and underground areas through its planned acquisition of specialist contractor GBF.

South Australian project developer Havilah Resources continues to explore upside scenarios for its flagship Kalkaroo project ahead of a prefeasibility study update.

WA miner Ramelius Resources sets out five-year plan to produce over 1Moz gold despite six-month delay in land clearance approval for its Greenfinch openpit development.

Saracen’s comeback success in its quest for the Bundarra resource also delivers a significant return for international resources investor Zeta Resources. John Feary reports

The Australian arm of Indian energy giant Adani expects to start construction work almost immediately after finally winning the final state government approval for its 10Mtpa first stage Carmichael thermal coal mine.

The mining services contract at Newcrest Mining’s Telfer gold mine that triggered a financial crisis for leading Australian contractor Macmahon two years ago has come back to bite it again, with warnings of significant impairment costs if the parties can’t agree to renegotiate the charges. John Feary reports

Troubles associated with the cost-cutting switch to contract mining at Avesoro’s 2 W African operations has forced the company to cut FY19 gold guidance and increase costs

Hecla Mining’s non-performing Nevada, US, assets will bear the brunt of a $25M cost cutting purge across all the company’s operations. By MBM’s North American correspondent

Canadian miner RNC follows up its Father’s Day Vein bonanza with a second major discovery of coarse gold mineralisation at the Beta Hunt mine in Western Australia.

Dacian Gold has flagged a potential “change of control transaction” after a strife-hit Q4 19 at Mt Morgans has forced the company to again cut FY19 production from 180,000oz to 136,000oz-143,000oz. By Mark Mentiplay

WA miner Gascoyne Resources appoints voluntary administrators after review that pointed to a lower-grade future for its struggling Dalgaranga gold mine. John Feary reports

Junior (30%) JV partner Argonaut Resources has fired up after Aeris Resources halted the long-awaited first stage drilling program on their giant Torrens IOCG project with only 20-25% of the planned work completed.

Early indications from Hummingbird’s new Yanfolila LoM plan show a 1st 3-years rise in gold output and consequent recovery from FY/CY18’s $12.8M loss

An array of issues, led by a €250M tax bill, lower copper-silver-gold prodn and higher costs, have seen Nyrstar fall from a FY/CY17 profit to a FY/CY18 €618M loss

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

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

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.

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 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.

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

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

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

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.

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

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

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.

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

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

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

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