Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

$40M+ of deferred tax/write downs, along with lower copper/silver production, have pushed Hudbay’s Q2 19 loss out to $54.1M

Six months after the Brumadinho dam rupture that killed at least 248 people, with another 22 still missing, Brazilian mining giant Vale has restored nearly a third of the 93Mt capacity lost due to safety-driven mine closures.

Orvana has slumped from profit to a Q2 19 loss with prodn down and costs well up, but holding to FY19 guidance

Argonaut lifts FY 19 costs in the wake of a 25% H1 19 profit fall, despite increased gold equivalent production from its 3 Mexican mines

A bad start to the phase-2 expansion of its Chile copper project has seen Amerigo Resources’ Q2 19 loss grow to $6.6M on lower than expected production

Glencore has announced plans to suspend its Mutanda Mining copper-cobalt operation in DRC as part of a comprehensive program including management changes and operational reviews to tackle issues that led to a 92% fall in attributable net income for the June half-year.

IAMGOLD has had a bad H1 19 resulting in a $55.7M loss now followed by the cutting of its FY19 production expectations and higher costs

International miner AngloGold Ashanti says its return to positive cash-flow driven by improving gold prices in the June quarter won’t change its focus on strict capital discipline.

The profit gauging fall-out from Avesoro’s switch to contract mining is raising questions on maintaining the recently cut FY/CY19 guidance after 38% production fall to 79,436oz

With two of Australia’s biggest gold producers in its portfolio and both still growing, South African-based international miner AngloGold Ashanti confirms its strong focus on grassroots exploration in the West Australian and northern Queensland goldfields. Ross Louthean assesses AngloGold executive Andrea Maxey’s presentation to the Diggers & Dealers in Kalgoorlie.

The discovery of healthy drill intercepts near the old Mt Edwards nickel mine in Western Australia’s Kambalda region creates new links back to the great nickel boom. Ross Louthean, co-author of the authoritative account of the sector, Australia’s Nickel Adventure, reports from the Diggers & Dealers forum in Kalgoorlie.

Centaurus has completed an innovative $7M cash and copper-gold project swap option agreement to acquire Vale’s advanced Jaguar Nickel Project in Brazil. By Mark Mentiplay

Yuzheng Xie’s Gold Valley Group adds to its near-production Australian iron ore project portfolio after signing a three-year DSO iron ore mining agreement with GWR at Wiluna West in WA.

Equinox Gold has suffered a double setback with FY/CY19 output expectations cut and a Q2 19 loss doubled to $10.7M

Leagold is looking to its Los Filos expansion and Santa Luz restart to restore profit and lift full year gold production to a top-end 700,000oz pa after Q2 19 $70M loss

Lower global steel demand, lower prices and higher costs have seen steel major ArcelorMittal plummet from a $414M profit to a $447M loss for Q2 19

Red 5 prefeasibility study outlines the potential for a long-term bulk mining operation that could transform its King of the Hills project into Western Australia’s next significant gold mine.

A strike at Sierra Metal’s Peru mine has been a major contributor to a big production fall, but not stopping the company rebounding to a $6.45M Q2 19 profit

Big silver and gold output falls have cut Fresnillo’s FY19 production expectations and sent its H1 19 profit spiralling down 69% to $71M

The new Alaskan Pogo mine has added to an excellent FY19 that, along with Northern Star’s other 2 gold mines, has lift total production over 266,000oz to 900,270oz

West Australian miner Silver Lake Resources moves quickly to its next expansion step following the quick success of its acquisition of the Deflector mine. John Feary reports

New study ascribes Aura Energy’s ready to go Tiris Uranium Project a $90M NPV8 on initial production of 12.4Mlbs U3O8 over 15-years

New study envisages Alt Resources’ low cost/risk Mt Ida operation producing 191,600oz AuEq over an initial 6-years and capable of much more. By Mark Mentiplay

Yamana Gold’s Q2 19 loss-to-$14M profit turnaround comes with increased AuEq production expectations out to 2023

The 1st full qtr of prodn from the recently acquired Tucano mine has more than doubled Q2 19 prodn, with the restarting Coricancha mine in the wings

Record production and costs performances by the Cadia mine in NSW have helped Australian gold leader Newcrest Mining beat its gold and copper targets at its best recorded unit costs in the year to end June.

Fired by a 46% H1 19 profit jump to $1.9B, Anglo American is quietly confident of more out to 2022. By MBM’s European correspondent

The underground return road to profit from the big Grasberg mine’s transition from open pit mining has hit a major snag in lower production and higher costs, pushing Freeport-McMoRan to an H2 19 $41M loss from H2 18’s $1.56B profit

Despite an easing of Q4 19 gold production, Regis Resources has managed another full year 363,420oz record. By Mark Mentiplay

Despite substantial falls in Q2 19 iron ore fines/pellet production, Vale has been able to call on offshore inventories to lift sales 4.5%, underpinning its recovery


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