Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

The recent Island Gold mine acquisition lights path to 520,000oz in FY18, after a record FY17 429,400oz and loss-to-$27.4M profit

Higher gold production, tighter costs and new projects have gold-copper major Newmont Mining nicely set to maybe assume the world No1 producer title this year.

With the warnings out for lower FY18 production from its 4 operations, Oceanagold has posted record FY17 production and revenue for a best ever $172M profit.

Champion Iron substantially completes the $C327M upgrade to restore the potential of the Bloom Lake iron ore mine as a major contributor to Quebec and the Canadian economy.

Increased FY17 copper, gold, silver production doubles revenue to $1.94B, lifting profit 180% to $476M

Rising production from its Kwale rutile, ilmenite and zircon project in Kenya has enabled Base Resources to lift its first-half NPAT by over 450% to $A21.49M.

It’s been a transformational year for global miner Anglo American, the highpoints including nearly doubling profit to $3.2B, a 93% jump in free cash flow and almost halving debt to $4.5B.

Hudbay Minerals has overcome declining copper-gold-silver production, buoyed by more zinc, to turn a $32.5M loss into a FY17 $163.8M profit

Despite its wildfire-driven mine shut-down, Taseko Mines has lifted FY17 copper production for a $34.4M profit from the embers of its 2016 $31.4M loss

N American Palladium flags potential complete company or equity sale on the heels of its best year yet and better expected in 2018. By MBM’s North American correspondent

OZ Minerals doubles FY2017 net profit to $231M on strong operational performance at its flagship Prominent Hill mine in South Australia.

Record production from Mandalay Resources’ Swedish operation has offset some of the damage from the company’s Chile shut-down, but couldn’t avert a near doubling of a FY17 loss to $43M

Resolute Mining expects its investments in long-term growth and mine life to deliver higher production and improved costs performance in the June half-year. John Feary reports

Tahoe Resources’ $2.45B La Arena expansion in Peru envisages an additional 149,000oz pa gold and 207Mlbs pa copper over 21-years

Perseus Mining is close to a turning point to positive cash-flow after increasing gold production and improving costs at its Edikan mine in Ghana ahead of commercial production at Sissingué gold mine in Cote d’Ivoire

Primary Gold’s major shareholder and global miner China Hanking Holdings has launched a $37.5M bid for the 1.43Moz resources near producer and developer. By Mark Mentiplay

A 1st half of production from Independence Group’s Nova mine has partly offset some big depreciation/amortisation and tax charges that pushed H1 18 profit down to $3.2M

World No 4 iron ore producer Fortescue Metals suffers an 18% fall in December half-year revenue as Chinese buyers tighten their discounts on lower quality material. John Feary reports

Top 5 global Caterpillar dealer WesTrac lifts product sales by 36% and product support revenue by 10% as Australia's mining and construction shows growing strength. John Feary reports

$254M turnaround sees AngloGold Ashanti slump from a profit to a $191M FY17 loss, despite increased gold production, but clobbered by a string of extraordinaries

BHP recommits to $2B productivity improvements after Olympic Dam and Queensland Coal issues set a negative trend.

Australian gold miner Northern Star remains on track to reach an annual production rate of 600,000oz in 2018 after lifting output in the December 2017 half-year.

Lower production costs and better copper prices have seen Sandfire Resources overcome a fall in copper-gold production for an H1 18 profit up 66% to $59.5M

A strong recovery in its core Australian resources and energy markets has helped engineer Monadelphous lift its December half-year profit by 32% to $37.6M.

Western Areas is looking for more organic growth after its value-over-volume approach delivered a return to robust profit in the December half-year. John Feary reports

New Hope Corporation is headed towards a good financial result for the December half-year after recording an 11.7% increase in coal sales in an environment of improving coal prices.

An $118M impairment, strikes and a Tanzanian n export blockade has seen Petra Diamonds fall from profit to an H1 18 loss of $117.7M

Hong Kong-based Long State Investment has signed a binding agreement for a $15M equity placement facility with Ardiden to speed the advancement of its Seymour Lake lithium project in Canada.

Big Russian miner Polymetals is paying $72M to lift its stake in the giant Prognoz silver project to 50% with the aim of getting it into production in 2024.

Millennium Minerals awards development and mining contract to GBF for the first underground operation at its flagship Nullagine gold project in Western Australia's East Pilbara.


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