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Mining Bulletins

The full story: In-depth news and analysis

MMG’s FY/CY20 copper production is expected to fall still further as the blockade spectre hangs over Las Bambas as a 14% FY19 zinc jump puts Aussie operations in the spotlight

Australian gold miner AuStar has withdrawn from its proposed acquisition of under-administration Centennial Mining, ending its hopes of consolidating a portfolio of mining and exploration assets in Victoria’s historically prolific alpine gold belt.

TMAC Resources has launched a strategic review that will consider its sale/merger, a J/V on its Hope Bay Mine and a new major shareholder

Anglo American’s £404.9M cash bid for Sirius Mines’ world class UK potash project comes with a warning that failure could lead to bankruptcy. By MBM’s UK correspondent

Mandalay Resources is expecting a big improvement in FY2020 gold production after an Aussie-led fall in FY19

World iron ore leader Rio Tinto predicts 3% increase in Pilbara shipments after first-half weather and operational challenges restrict FY2019 production.

IAMGOLD sees some new light after FY19 gold prodn fall to 762,000oz, with 2020 expecting about the same, but 2021 hoping for the top end of 760,000oz-840,000oz

Specialist Australian resources-focused private equity group EMR Capital has added a third Queensland mine to its international portfolio of eight major mines and projects with its up to $A300M acquisition of the Ravenswood gold mine in north Queensland from Resolute Mining.

After a disappointing 2019, Resolute Mining is ready to cash in on strong production growth, lower operating costs and reduced capital demands in the coming 12 months. John Feary reports

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

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