Mining Bulletin

The full story: In-depth news and analysis

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Mining Bulletins

The full story: In-depth news and analysis

Battery materials market uncertainty hits the flake graphite suppliers, with Syrah Resources cutting output from its Balama operation in Mozambique by 66% due to falling spot prices and over-supply concerns.

New study sees Integra Res’ Idaho heap leach operation generating $697M after tax cash flow over an initial 10-year LoM from 1.24Moz AuEq ouput

Tanzania’s Mining Commission orders major regional coal producer Tancoal to charge customers hefty new royalties on the transportation costs of thermal coal sales.

A string of financial benefits, not big production increases or cost cuts, have fuelled a FY19 $145M net profit from a $2.6M profit the year before

Miner Independence Group racks up a string of records to lift its FY 19 NPAT 44% to $76M. By Mark Mentiplay

Australian international gold producer Resolute Mining expects to lift 2020 production at its Ravenswood mine to 80,000oz after pressing the go button on Stage 1 of the expansion plan at its long-lived Queensland operation. John Feary reports

Shipment timing and big growth investments have pushed OZ Mins’ H1 19 profit down $84m to $44M

The end of mining at Hillgrove’s Kanmantoo Cu-Au mine in S Australia has the operation running on stockpiles, for lower output and cutting H1 19 profit 9.2%.

Gold Fields has sold its 10% stake in J/V partner Gold Road Res for $1126.3M, but is hanging on to its 50% of the Gruyere Gold Project. By Mark Mentiplay

Delayed acquisition/ramp up of the Koolyanobbing Iron Ore Project and the ending of Wodgina lithium DSO sales slash Mineral Res FY19 profit 39%

Cazaly Res has accepted a new superior $20M+ offer for its Parker Range Iron Ore Project from neighbouring producer Mineral Res. By Mark Mentiplay

Maiden Kenmare dividend follows 17% H1 19 profit fall on HMC production down 8%, but with ilmenite, zircon and rutile all up

Prophecy Devel is setting up to spin off its Bolivian silver and Mongolian assets as its US Vanadium operation closes on 1st production in 2022

Ivanhoe has secured $679M in development cash from 2 major Chinese companies to secure development of the 1st of its 3 advanced southern Africa projects

All operations move into positive cash-flow as higher production and lower costs deliver increased profits and improved balance sheet for Australian miner Newcrest Mining.

Lynas Corporation is confident the renewal of the operating licence for its advanced materials plant will end the politicisation of its rare earths processing operations in Malaysia.

Barrick Gold remains open to selling its Ivory Coast/Senegal gold operations, as sale process for its 50% of the Kalgoorlie Superpit begins

Barrick Gold’s global expansion has resulted in a Q2 19 net profit up to $194M and well set for a bright future

$40M+ of deferred tax/write downs, along with lower copper/silver production, have pushed Hudbay’s Q2 19 loss out to $54.1M

Six months after the Brumadinho dam rupture that killed at least 248 people, with another 22 still missing, Brazilian mining giant Vale has restored nearly a third of the 93Mt capacity lost due to safety-driven mine closures.

Orvana has slumped from profit to a Q2 19 loss with prodn down and costs well up, but holding to FY19 guidance

Argonaut lifts FY 19 costs in the wake of a 25% H1 19 profit fall, despite increased gold equivalent production from its 3 Mexican mines

A bad start to the phase-2 expansion of its Chile copper project has seen Amerigo Resources’ Q2 19 loss grow to $6.6M on lower than expected production

Glencore has announced plans to suspend its Mutanda Mining copper-cobalt operation in DRC as part of a comprehensive program including management changes and operational reviews to tackle issues that led to a 92% fall in attributable net income for the June half-year.

IAMGOLD has had a bad H1 19 resulting in a $55.7M loss now followed by the cutting of its FY19 production expectations and higher costs

International miner AngloGold Ashanti says its return to positive cash-flow driven by improving gold prices in the June quarter won’t change its focus on strict capital discipline.

The profit gauging fall-out from Avesoro’s switch to contract mining is raising questions on maintaining the recently cut FY/CY19 guidance after 38% production fall to 79,436oz

With two of Australia’s biggest gold producers in its portfolio and both still growing, South African-based international miner AngloGold Ashanti confirms its strong focus on grassroots exploration in the West Australian and northern Queensland goldfields. Ross Louthean assesses AngloGold executive Andrea Maxey’s presentation to the Diggers & Dealers in Kalgoorlie.

The discovery of healthy drill intercepts near the old Mt Edwards nickel mine in Western Australia’s Kambalda region creates new links back to the great nickel boom. Ross Louthean, co-author of the authoritative account of the sector, Australia’s Nickel Adventure, reports from the Diggers & Dealers forum in Kalgoorlie.

Centaurus has completed an innovative $7M cash and copper-gold project swap option agreement to acquire Vale’s advanced Jaguar Nickel Project in Brazil. By Mark Mentiplay


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