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Mining Bulletins

The full story: In-depth news and analysis

Consolidated Zinc admits it has been blindsided by the launching of complex legal proceedings launched by contractor Ganti over the termination of its mining contract at the Plomosas zinc-lead-silver mine in northern Mexico.

Big German engineer Siemens says that while it will honour its contract to participate in the Adani Group’s controversial Carmichael thermal coal project in Australia, it should have been wiser at the outset.

Australian miner Evolution has drastically worsened production and cost forecasts at its Mt Carlton gold mine in North Queensland after drilling significantly reduced ore resources it had expected to be mining over the next six months.

The long wait for funding is over, with the finalisation of a €52M structured loan facility allowing Gulf Manganese to complete development of the first two smelters at its Kupang Smelting Hub project in the West Timor province of Indonesia.

Australian-based miner Mineral Commodities advances a vertically integrated strategy supplying graphite concentrate to key battery markets through its Munglinup project in Western Australia and Skaland project in Norway. John Feary reports

Panoramic Resources expects to name the preferred underground mining contractor for its Savannah nickel project in Western Australia after identifying the switch from owner mining as a key to overcome the equipment reliability issues that have dogged the mine over the past year. John Feary reports

The conclusion of the $800M sale of Western Australia’s big super pit gold project has taken Newmont to the top of its 2019 $1.5B cash target

A media statement by a neighbour and rival mining company spells more trouble for Australian-based Prairie Mining in its dispute with the Polish government over its two coal development projects.

Australian gold miner Northern Star Resources is set to make the leap to the 1Moz annual production level with its $800M deal to take management control of the Kalgoorlie Super Pit in WA, making up an all-local ownership team with Saracen Mineral Holdings. John Feary reports

Equinox Gold has launched a $580M all-share bid for fellow Canadian gold miner Leagold that’s targeting an average 1Moz pa during 2021

Weekend merger talks follow gold-miner Centamin’s rejection of a $1.9B all-scrip takeover bid from Endeavour Mining

Challenges keep mounting for African Mining Services with the termination of its ongoing surface mining, load and haul contract at the Nsuta manganese mine in Ghana forcing a 16% cut in its FY20 net profit forecast.

Tasman Mining is looking for more cash after securing $15M from the NZ Govt to restart the 695,000oz Blackwater Gold Project on NZ’s South Island. By Mark Mentiplay

Widespread flood-generated power cuts are shutting down mining operations across South Africa

In another big sale, Barrick Gold and its J/V partner are selling 90% of their Senegalese gold project to Teranga Gold for up to $US430M

While remaining bullish on nickel, Brazilian mining major Vale is looking to offload its troubled New Caledonia nickel operation by the middle of next year.

An initial 45,500oz gold over a near 4-year life has been outlined for Resources and Energy’s MacKenzie Au-Ag project, with a later expansion already under consideration

Australian-based Axiom Mining claims Solomons government has no legal right to demand fines or confiscate passports in the battle over rights to one of the Pacific region’s potentially greatest nickel projects.

Endeavour Mining has revealed details of its merger/takeover plan for fellow gold miner Centamin, valued at around $C2.5B. Centamin has rejected the offer.

Endeavour Mining has revealed details of its merger/takeover plan for fellow gold miner Centamin, valued at around $C2.5B

The outlook through 2024 for world gold major Newmont Goldcorp is good, with momentum maintained by increased production and lower costs

Miner Troy Resources is taking advantage of an ill-considered Guyana government shutdown order to demand progress on overdue mining permits and import restrictions before it resumes operations at its suspended Karouni mine.

A scoping study that exceeded expectations has prompted Allegiance Coal to being forward plans to complete the acquisition and restore production at the long-mothballed New Elk metallurgical coal mine in SE Colorado, USA.

World No 2 iron ore producer Rio Tinto aims to sustain output of its flagship Pilbara Blend product through a $749M investment program to facilitate the mining of existing and new deposits at its Western Turner Syncline Phase 2 mine.

Evolution Mining has launched a $625 plan to buy Newmont Goldcorp’s Red Lake gold operation in Canada and make it a cornerstone asset. By Mark Mentiplay

Scoping study identifies a robust stand-alone development option for Canyon Resources’ Minim Martap bauxite project in Cameroon, as the initial step towards a prefeasibility study due next year on a two-stage larger project.

US-focused explorer Eagle Mountain Mining is ready to go ahead with a potentially transformational acquisition after gaining court approval for its $6.4M acquisition of the long-idled Oracle Ridge copper mine in Arizona.

West Australian company Mineral Resources, having built its reputation as a developer of stranded or undervalued assets, is targeting a long-term 11Mtpa iron ore operation under a new strategy for its Yilgarn operations in the state’s south.

Scoping study shows Adriatic Metals will need another $180M to get its $178M Vareš polymetallic project into production by targeted mid-2022

Lithium producer Galaxy Resources is slowing production at its operating Mt Cattlin mine and reformatting the development plans for its Sal de Vida brine operation in Argentina as another victim of lithium’s slow customer uptake and falling prices. John Feary reports


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