Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

Despite lower COVID-19 affected copper-gold output, First Quantum has cut its Q1 20 net loss by $53M to $62M

2 of St Barbara’s 3 mines have posted production losses in Q3 20, with costs up, the exception being Simberi in PNG with higher output and lower costs

Technical problems at Perseus Mining’s Ghana gold mine have pushed Perseus’ Q3 20 output down and ASIC up

Australian coal miner Stanmore has been hit by a sudden rush of deferrals of scheduled coal deliveries due to the impacts of the global COVID-19 pandemic, forcing it to slash its earnings forecast for the June financial year.

Barrick Gold has accused the PNG of seeking to nationalise its 47.5%-owned Porgera gold mine in the Western Highlands by stealth by its refusal to approve a renewal of its special mining lease.

A combination of COVID-19 inspired South African shutdowns, power outages and a smelter explosion have hammered Anglo American Platinum’s Q1 20 output

Despite easing Q3 20 production, Evolution has racked up some impressive cash flows, with more in the wings from its recent Canadian acquisition. By Mark Mentiplay

All of Highland Gold Mining’s operations have kicked off FY/CY20 with output falls

The late Q1 20 qtr shut down of Hochschild’s 3 mines has cost it dearly, with gold-silver both down

Higher Q1 20 production and lower costs has Chilean copper major Antofagsta holding to FY/CY20 guidance, but with its flagship Los Pelambres expansion on C&M

Teck Resources Q1 20 is all about cutting losses – adjusted profit, gross profit, EBITDA, cash flow and revenues

Strandline signs 3 major mineral sands off-take deals worth $615M and accounting for an initial 66% of revenue from its upcoming WA operation. By Mark Mentiplay

Lower milled ore and a temporary suspension of underground mining at DeGrussa ease Q3 20 copper-gold production

3 of Sierra Metals’ products have weathered the initial COVID-19 fallout, but the company has shut down some operations as it prepares for more

A 12-day shutdown has only marginally affected New Gold’s Rainy River operation and offset by increased New Gold mine production

PEA flags initial 8.2-year LoM Séguéla Gold Project in Côte d’Ivoire producing 841,000oz, generating revenue of $1.2B and an after-tax net cash flow of $354M

West Australian miner Silver Lake Resources has increased its FY20 guidance for the second time in three months after posting record sales in the March quarter (Q3). John Feary reports

Yamana Gold has done a $201M deal to sell down its stake in the rapidly expanding Equinox Gold

Copper-silver offset Q1 20 gold fall as the ramp-up of K92 Mining’s Kainantu PNG underground expansion gathers pace

Lower gold, higher tax contribute to China Gold Int’l Res bottom line loss increasing $28M to $32M

Yamana Gold flagging H2 20 return to normal operations after COVID-19 restrictions throughout the Americas cut Q1 20 gold equiv output to 221,746oz

Australian-based developer Allegiance Coal has wrapped up the supply chain from coal face to customer for its planned revival of the New Elk metallurgical coal mine in SE Colorado, USA.

Golden Mins PEA flags new option for low-cost restart for the Velardeña silver-gold properties in Mexico’s to produce 20Moz AgEq over 10-year LoM

Evolution Mining is expecting 25,000oz in the June 2020 qtr from the Red Lake gold operation it has just acquired from Newmont for $375M

A FY19 that saw all its mineral products up, Sierra Metals’ has seen its net profit plummet to $4.4M on lower metal prices and higher costs

TMAC’s Hope Bay gold expansion PFS sees a $1.2B project producing an initial 3.1Moz over an initial 15-years

Lower Beta Hunt gold production, off-set by a 1st up H2 19 16,635oz from recently acquired Higginsville cuts RNC FY19 loss to $6.9M

Endeavour all-share bid for SEMAFO to create the biggest gold producer in Burkina Faso/Ivory Coast

Kirkland Lake has followed the shutdown of 2 Aussie gold projects with cuts at Detour Lake and the suspension of all exploration

New moves by gold major Newmont to offset the global COVID-19 pandemic prompts 4 temporary mine closures and an expected Q1 20 prodn fall


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