Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

New report flags a golden future for SolGold's Cascabel copper-gold-silver project in Ecuador, with the possibility of its LoM going out from an initial 26-years to 50-years

Rio Tinto chief executive Jakob Stausholm has re-emphasised the need to lift the global mining giant’s operational performance after a challenging first quarter of FY2022 that saw lower production of iron ore, aluminium and copper.

Australian explorer Castile Resources is advancing its strategy of extracting maximum value of each tonne of ore mined with the addition of a new 933,000t magnetite resource at its polymetallic Rover 1 project in the NT.

Black Cat Syndicate’s ambitions to become a mid-tier Western Australian gold producer rest on a four-year schedule for development and mining its portfolio of three high-grade mines in the state’s Eastern Goldfields, Eastern Pilbara and Tanami regions. John Feary reports

US agency offers $107M loan funding under Biden critical minerals strategy to back lithium miner-processor Syrah Resources’ vertically integrated battery metal facility in Louisiana.

Poor weather through the March quarter has limited production and shipping volumes at Kenmare Resources’ Moma titanium minerals mine in Mozambique, but the world-leading mineral sands producer is confident better weather will keep it on track through FY2022.

Confirmation of up to $160M in financial assistance from the Northern Australia Infrastructure Facility supports plans by Sheffield Resources and 50-50 joint venture partner Yansteel to finalise project funding in the September quarter for development of the Thunderbird mineral sands project on WA’s Dampier Peninsula. John Feary reports

South African coal producer MC Mining is targeting the finalisation of financing arrangements and start of construction in 2022 based on a positive BFS for its 68%-owned Makhado hard coking and export-quality thermal coal mine.

Northern Star sells its Paulsens Gold Operation and Western Tanami Gold Project, both in Western Australia, to the Black Cat Syndicate for $44.5M in cash/scrip

Offtake and strategic collaboration agreement with Ford Motor Co further de-risks clean lithium developer Lake Resources’ development of the 50,000tpa Kachi lithium brine project in Argentina’s Lithium Triangle and advances its ambitious Target 100 multi-mine strategy.

Kenmare Resources posts a range of records for FY/CY 21 topped by an after tax net profit up $128.5M from $16.7M

Surging global demand for lithium for electric vehicles and appliances has seen leading Australian producer Mineral Resources convince its joint venture partners to accelerate the expansion of its two spodumene concentrate operations in WA. John Feary reports

Iluka Resources has approved a $A1B-plus refinery development at its Eneabba operation in Western Australia that is slated to become a sustainable, secure and globally competitive source of separated rare earth oxides. John Feary reports

A new prefeasibility study has outlined a revised development strategy that may end the long delay at Grange Resources’ 70%-owned Southdown magnetite mine in Western Australia. John Feary reports

Chilean copper giant Antofagasta will accept $US900M as compensation for its withdrawal from a multilateral agreement to end the 11-year-old lockdown of one of the world’s largest undeveloped copper-gold deposits, the Reko Diq project in Pakistan.

International metallurgical engineer SMS has effectively acknowledged that local knowledge is the key to mastering the supply chain, logistics and costs challenges of the pandemic-afflicted global economy, approving a revised development strategy for Australia’s potential world-class Mount Peake critical and battery metals project.

Rio Tinto launches a $US2.7B cash bid to take a direct 66% stake in the massive Oyu Tolgoi copper-gold project in the Gobi Desert to strengthen its copper portfolio and establishing a simpler and more efficient partnership structure with the Mongolian government.

AngloAmerican turns in a record financial Dec 2021 year with profit up to $8.56B from $2.08B, EBITDA 111% better to a record $20.6B and overall revenue up 63% to $41.55B

Repercussions of Russia’s military bastardry halt Ukraine mines while companies across the border fear becoming the inadvertent victims of global sanctions against the aggressor.

FY/CY 21 profit jump on a new gold stream and a continued strong performance from Costerfield, Australia, sees Mandalay well on track for 2022

Increased silver/gold production from Hochschild Mining’s 3 South American operations has lifted its Dec 31, 2021, year (FY/CY 21) net profit to $US71.1M from the previous year’s $20.42M.
The pre-tax, post-exceptional, profit jumped to $137.3M from $62.9M on revenue up to $811.4M from $621.8M and adjusted EBITDA to $382.8M from $270.9M.

Rio Tinto pays its highest ever dividend after lifting FY/CY 21 profit to $21.1B

Coeur Mining's FY/CY 21 loss blowout to $31.3M, despite best revenue haul in 10-years

Lower gold production from Kinross Gold's global operations has smacked December 2021 year's net profit down to $221.2M from the previous year's $1,342M

Barrick Gold's Dec 2021 year (FY/CY 21) net earnings fall to $US2.02B from the previous year’s 2.3B, on the back of gold output down to 4.43Moz from 4.76Moz.

Copper Mountain Mining is forecasting substantial increases in annual copper and gold production as it prepares to complete a revised life of mine plan for its Canadian flagship project.

Vista Gold’s feasibility study points to a unique development opportunity at its Mt Todd gold project in the Northern Territory of Australia.

Vale flags better FY/CY 22 after lifting FY 21 iron ore, pellets and coal output

OceanaGold concedes it is focused on rebuilding its market credibility with the release of a technical review of its key Haile gold mine in USA and a three-year outlook report demonstrating higher production and higher margins.

International diversified engineering services company Thiess has been awarded the full mining services contract for Pembroke Resources at its world-class Olive Downs coking coal mine in Australia.


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