Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

Integrated rare earths miner-producer Lynas has posted a $53M turnaround to a maiden full-year profit on record sales and improved market penetration.

Two years after being rebuffed, BHP succeeds with a new move to acquire a minority interest in SolGold and its world-class Ecuadorian copper-gold project at Cascabel.

BCM Investments has stepped up again to buy another Endeavour Mining asset, the producing Tabakoto Gold Mine in Mali for $60M

South American miner Orosur is in the midst of a declining gold production rescue operation with its operations either closed or near it after a FY18 $40M net loss.

Australian company Northern Star is eyeing the potential to become a 1Mozpa global gold producer with its audacious $US260M deal to acquire the giant Pogo underground mine in Alaska from Sumitomo Metal Mining.

A resurgent Perseus Mining, with the new Sissingue mine now safely ensconced, has seen record gold production cut its FY18 loss by $58M to $25M

Updated DFS flags long, profitable life for Terramin Australia's well sited $639M Algerian zinc-lead project, generating base case cash flow of $A2B

A $15M financing deal for an earlier start/cash flow for Aspire Mining’s Mongolian coal proj will lift Mongolian nationals shareholding in the company to 32%. By Mark Mentiplay

West African miner Perseus Mining will abandon current selective mining strategies and lower production rates for a stronger, smoother outcome in a new mine plan for its Edikan gold mine in Ghana.

$100M CHAARAT RAISING INCLUDES $75M BID FOR UNKNOWN GOLD MINE
Chaarat Gold has completed the 1st 25% of its $100M raising, which includes $75M for an undisclosed 50,000oz pa AuEq mine. By MBM’s UK correspondent

Chaarat Gold has completed the 1st 25% of its $100M raising, which includes $75M for an undisclosed 50,000oz pa AuEq mine

New funding sees Pilbara Minerals’ stage-2 WA lithium-tantalum expansion proj just short of the required $231M capex with about $215M committed. By Mark Mentiplay

West Australian nickel developer Poseidon shuns a potential takeover offer to pursue its $75M fund-raising plans.

Record order book and strong project pipeline deliver full year profit turnaround for Australian-based mining contractor Macmahon. John Feary reports

A reshaped, inflation conscious commodities portfolio and a stronger prices environment have lifted South32’s FY18 profit to $1.33B

As mining at Hillgrove Resources’ sole producing Kanmantoo mine approaches its end in mid-2019, the company has lifted its H1 18 bottom line 275% to $14M

Upgraded DFS sees $500M revenue from Thor Mining’s Molyhil Tungsten project over an initial 7-year LoM starting in 2020, with potential for more. By Mark Mentiplay

Australian gold leader Newcrest sees room for more expansion in a prefeasibility study at its flagship Cadia Valley mine in NSW.

Polymetal Int’l H1 18 cash flow rockets 166% on increased gold equiv prodn for $55M profit jump to $175M.

Former Gold Fields Exploration M/D to face Sept 27 sentencing after being convicted of insider trading charges relating to former Minotaur J/V

A volatile nickel market year has seen Western Areas’ FY18 production fall and costs rise, slashing its profit to $11.8M

New production from Dugald River and higher commodity prices have lifted MMG’s bottom line to $193.4M on revenue to $1.9B

Outgoing AngloGold Ashanti CEO Srinivasan Venkatakrishnan has delivered a strong production and cost performance in the final interim result before he makes way for former Barrick Gold president Kelvin Dukshinsky next month.

Record shipments and a big jump in prices received has more than doubled Kenmare Resources H1 18 profit to $26.4M

Widening discounts by Chinese steelmakers on lower grade iron ore has pushed world No 4 producer Fortescue to a 58% plunge in net profit for FY19.

Red Eagle has suspended its Colombia gold operations for restructure as $70M impairments push Q2 18 loss out to $73M. By MBM’s North American correspondent

Fine tuning sees operational cost savings offset lower gold production, to take Shanta Gold from a loss to an H1 18 $7.1M profit

Just about the only negative in Evolution Mining’s FY18 result was a fall in gold-silver production, with all the other major markers up for a 21% profit jump to $263.4M

Yancoal ponders more development and brownfield exploration options after posting a half-year profit turnaround on the strong performance of its former Rio Tinto mines.

West Australian mining services and processing company Mineral Resources secures higher profits and eyes full-cycle development opportunities.

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