Mining Bulletin

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Mining Bulletins

The full story: In-depth news and analysis

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.

Avesoro Res has flagged a better H2 18 on a range of mine improvements after a Q2 18 that saw cash flow/EBITDA plunge on lower gold prod/costs

Good progress with the first underground mine has Millennium Minerals looking at an early production start and the potential for more underground developments at its Nullagine gold project in Western Australia.

The completion of the Rye Patch Gold takeover and the addition of its Florida Canyon production has lifted Alio Gold’s Q2 18 prodn and profit to $3.28M

Australian-based project developer Consolidated Zinc says it will contest a claim by a low-profile private company for a 10% free-carried share in its Plomosas project in Mexico.

Lower production and higher/extra costs have slashed Argonaut Gold’s Q2 18 net income to $400,000, but with adjusted net profit falling to $7M from $7.9M

The $11.6M deal to sell Manadalay’s Chilean asset has come with a $23.7M impairment that’s taken the company’s Q2 18 loss out to $23.7M

A review of optimal operational and financial outcomes has prompted MOD Resources to lift the planned plant throughput by 20% at its feasibility-stage T3 copper project in Botswana.

With zinc-silver up, but lead down, Trevali Mining has seen its Q2 18 profit slide $5M+ to $23.5M

Glencore’s H1 18 metals/minerals business adjusted EBITDA up $1.33B, lifting overall profit 13% to $2.77B

Mutually agreed all-share Golden Reign bid for Marlin Mining to spawn restructured Mako Mining with current and near future gold-silver production

A steady production Copper Mountain Mining Q2 18, with revenues up, has failed to offset a $7.7M profit fall to $2.9M.

The Gibraltar mines’ recovery from the 2017 summer fires sees Taseko Mines back on track with big Q2 18 production, sales, grades and recovery increases

A 60% increase in ore reserves at its Mt Weld rare earths mine in Western Australia keeps special materials company Lynas Corporation on target to retain its position as a leading non-Chinese supplier to the specialty materials market. John Feary reports

New study envisages Echo Resources’ WA gold project generating $1.2B in its 1st 8.5-years, giving it a post-tax NPV 8% of $135M and 147% IRR. By Mark Mentiplay

Record Teranga Q2 18 gold prodn for a big profit jump lifts 2019 expectations to top-end 230,000oz with Wahgnion in the wings

Despite lower Q2 18 gold production and higher costs, Endeavour is clinging to 800,000pa+ in FY/CY19 at AISC below $800oz. By MBM’s North American correspondent

A couple of asset sales have rescued Centerra Gold’s Q2 18 bottom line to $43.5M, but with adjusted net earnings down to $1M from $13.5M on lower gold production from Kumtor

Strong results from its US regional operations have helped South African-based gold and platinum producer Sibanye achieve a turnaround to R77M profit for the June half-year.

Just weeks after achieving first production from its Pilgangoora lithium-tantalum project in Western Australia, Pilbara Minerals has outlined more expansive plans to meet the growing demand for lithium raw materials in north Asia and further afield.

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