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Mining Bulletin

The full story: In-depth news and analysis

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Mining Bulletins

The full story: In-depth news and analysis

Australian mineral sands miner MZI Resources has announced a debt restructuring program backed by major shareholder Resource Capital Fund VI aimed at delivering a robust, transparent financial and capital structure. John Feary reports

Prefeasibility study finds a robust case for opencut development of a typical Hunter Valley large-scale, low-cost mine at Australian Pacific Coal's Dartmouth project.

Petropavlovsk is looking to cut FY18 costs while at least maintaining a 20% jump in FY17 gold production that saw profit up $10M to $41.5M

Castillo Copper appoints mining title consultant to gain early cash-flow from stockpiles following its rediscovery of the historic Cangai copper mine in NSW, Australia.

Ardea Resources is evaluating larger, longer term production options after a positive PFS flags base case $599M, $1.43B NPV nickel-cobalt operation. By Mark Mentiplay

Rio Tinto has completed the divestment of its Queensland coal assets in Australia with the $US2.25B sale of its 80% interest in the Kestrel mine to private equity manager EMR Capital and Indonesian miner Adaro Energy.

Hexagon Resources will focus on future downstream processing options after Mineral Resources agreed to fund feasibility and development of its McIntosh graphite project in Western Australia. John Feary reports

Increases everywhere have seen a 42% jump in copper production carry Atalaya Mining to an improved 1st full year production FY17 €18.2M profit

OZ Minerals' search for diversification that will allow it to become a multi-asset global miner while retaining copper as its core commodity has led it to an agreed $418M offer for Brazil-focused miner and developer Avanaco Resources.

A swing to SWNG for Pacific Bauxite in the Solomon Islands, after exploration identifies the South West New Georgia project as its focus for a large-scale potential bauxite development.

Boss Resources is seeking to raise $65M through Tribeca Investment Partners to advance its Honeymoon project as Australia's next uranium producer.

Stornoway Diamond Corp’s starter pit has produced a 1st-up $186M worth of diamonds, not enough to offset $171M impairments for a FY17 $114.6M loss

The Rincon lithium project in Argentina moves into the processing of lithium brine concentrate this week as Argosy Minerals advances its fast-track development strategy.

Bass Metals is within days of first production from the fully refurbished Graphmada process plant in Madagascar, positioning itself as one of four publicly listed graphite producers in the world.

A 2017 of lower gold production and a major asset acquisition and sale, has seen gold miner Eldorado cut its net loss to $9.9M from a $344.2M loss

Cypriot company Karo Resources has signed a $4.2B deal to have an ultimately 1.4Moz pa PGM operation up and running in Zimbabwe in 2020

DRC’S mines minister has pre-empted govt-company mining code negotiations, rejecting proposals to soften some of code’s the provisions

Condor Gold raises £2.5M to fund the final permitting stages for its revised minesite design at the La India gold project in Nicaragua.

Increased copper, lead, zinc prices have helped cut Sierra Metals’ FY17 loss 60% to $4.64M

Galaxy Resources is expecting much more from its restarted, upgraded Mt Gattlin lithium project in 2018 following a FY17 costs hit profit slide to $166,000 from $123M

MD Tony James and chairman John Fitzgerald have both quit after Carbine Resources pulled the pin on its four-year battle to redevelop the abandoned Mount Morgan gold-copper mine in Queensland, Australia.

Australian developer Broken Hill Prospecting has attracted the world's No 4 electric vehicle battery maker to back its Thackaringa cobalt project.

The sale of Winchester project to Australian independent miner Whitehaven Coal brings Rio Tinto close to completing its strategic withdrawal from its Australian coal business.

Australian miner Tawana to spin-off its exploration assets to focus on the ramp-up of its new lithium producer Bald Hill mine.

The BFS for Aguia Resources Brazilian phosphate project has outlined a high quality phosphate/aglime operation with a significant cost advantage over what’s being supplied to the S Brazil market

Ironbark Zinc is planning to charter a ship that will deliver fuel and equipment to the remote NE corner of Greenland in August to allow initial construction work to start on its 200,000tpa Citronen zinc metal project.

Glencore is buying Rio’s majority stakes in the Hail Creek Coal Mine and Valeria coal resource in Australia for up to $2.04B

Fellow Canadian gold miners Alio Gold and Rye Patch Golds are getting together in a $128M all-shares merger expected to produce 165,000oz in 2018

An optimisation study for a current revised PFS is already finding ways to cut Birimian's Mali lithium project transport, handling, power, fuel costs and ultimately previous capex estimates up to $126M+

Hecla Mining has launched a mutually agreed, $462M cash/shares bid for Klondex Mines and its burgeoning Nevada, US, operations. By MBM’s North American correspondent


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