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The full story: In-depth news and analysis

CLEVELAND-CLIFFS BUYING ARCELORMITTAL US OPERATIONS FOR $1.4B

Cleveland Cliffs to become N America’s largest flat-rolled steel and iron pellet producer with the $1.4M acquisition of ArcelorMittal’s US operations

AUSTRALIAN RES EARNINGS WEATHER FY20 COVD-19, FY21/22 EXPECTATIONS HIGH

Following record $290B resources/energy earnings in FY20, the Australian Govt is flagging another strong 2-years ahead

WA GOVT MINERAL/PETROLEUM FY20 SALES RECORDS

Record $22B increase in FY20 Western Australia resources sector sales to $172B

RED 5 HEADING FOR MID-TIER GOLD STATUS ON FY 20 $4.5M PROFIT

Despite a fall in FY 20 gold production, Red-5 is heading for mid-tier production status on the back of a $7.53 turnaround to a $4.5M profit. By Mark Mentiplay

GRUYERE PROJECT PARTNERS TRIM PRODUCTION GUIDANCE AFTER MILL BREAKDOWN

Gruyere gold mine partners Gold Fields and Gold Road Resources have trimmed production guidance after the failure of a ball mill motor bearing brought an end to a strong first year of operations at the West Australian mine. John Feary reports

MINCOR TARGETS KAMBALDA NICKEL REVIVAL TO MEET GLOBAL ENERGY DEMAND GROWTH

Australian nickel specialist Mincor Resources is promising an exciting ride for Western Australia’s renowned Kambalda nickel province following board approval to end a five-year shutdown and redevelopment of its Kambalda Nickel Operations.

CALIDUS EARLY WORKS START ADVANCES WARRAWOONA GOLD PROJECT

West Australian developer Calidus Resources has named preferred contractors Macmahon (opencut mining and civil) and GR Engineering (process plant) as it begins construction work ahead of schedule on its Warrawoona gold project in the East Pilbara.

PARAMOUNT FS FLAGS OREGON’S 1st GOLD MINE

New study backs Oregon’s 1st gold mine, Paramount Gold’s $130M underground operation producing 362,000oz gold/425,000oz silver over an initial 8-year LoM

RED 5 TARGETS EARLY 2021 CONSTRUCTION START AFTER POSITIVE KING OF THE HILLS STUDY

Three years after the Philippines government’s anti-mining policies forced it to leave its Siana gold mine, completion of a strong feasibility study at King of the Hills sets Red 5 on track to become a significant mid-tier Australian gold producer. John Feary reports

$70M RAISING TO FUND MALI GOLD MINE ACQUISITION

Lithium aspirant Mali Lithium gets new major shareholder in Resolute Mining as part of a $70M raising to secure 80% of the Morila Gold Mine in Mali and is already talking strategeic partnership. By Mark Mentiplay

FUNDING AND EQUITY ISSUES KILL NEW CENTURY PLAN TO REVIVE VALE’S NEW CALEDONIA MINE

Australian miner New Century Resources rules out a binding offer to acquire and revive Vale’s struggling Goro nickel and cobalt operation in New Caledonia.

IRONBARK STUDY BACKS WORLD-LEADING FUTURE FOR GREENLAND’S ZINC-LEAD PROJECT

Mine planning optimisation study supports Ironbark Zinc’s case for its Citronen project on the remote northeast coast of Greenland to be a major zinc and lead development.

MALI LITHIUM TO PAY $27M FOR BARRICK-ANGLOGOLD 80% STAKE IN MORILA GOLD MINE

Little-known Australian explorer and developer Mali Lithium aims to find a new lease of life for the Malian gold project that was once known as Morila the Gorilla after agreeing to pay international giants Barrick Gold and AngloGold Shanti $US22M-plus for their combined 80% stake.

MORE FY 20 GOLD GUIDANCE CUTS FOR OCEANAGOLD

Gold miner Oceanagold has again cut FY 20 output expectations for its global operations in the wake of the COVID-19 pandemic

REGIS RECORD FY 20 PROFIT DESPITE GOLD FALL

A $435oz jump in the gold price has seen Regis Resources’ FY 20 profit jump 22% to $200M

STRONG GOLD ACTIVITY DRIVES CONTRACTOR MACMAHON TO RECORD FY20 PROFITS

Australian-based international mining services contractor Macmahon has ridden the increased gold and gold-copper activity to record earnings and cash-flow in the June 2020 financial year. John Feary reports

BIG PERSEUS FY 20 PROFIT JUMP TO $94.4M DESPITE GOLD FALL

Increased sales revenue and lower costs for Perseus $87M FY 20 profit jump to $94.4M, with Yaouré on the production horizon

WESTERN AREAS FY 20 PROFIT HIGHEST IN 7-YEARS

Nickel miner Western Areas more than doubles FY 20 profit in the face of lower production and higher costs. By Mark Mentiplay

NEW RECORDS AS FMG LIFTS FY 20 PROFIT 49% TO $4.7B

A string of FY 20 records, topped by a 49% profit jump to $4.7B on record shipments, has FMG expecting more of the same in FY 21. By Mark Mentiplay

ATLANTIC GOLD CUSHIONS ST BARBARA FY 20 PROFIT FALL TO $128M

Recently acquired Atlantic gold has lifted FY 20 gold production to offset lower output from St Barbara’s Australia/PNG operations and ease the FY 20 profit fall
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Canyon Resources Limited

Exchange Code: 
ASX:CAY
Website: 
http://www.canyonresources.com.au

Canyon Resources Limited

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Related Content

CANYON RES: $10M TO BRING ON CAMEROON BAUXITE PROJ

Post date: 
08/31/2020 - 12:20
 

Western Australia-based Canyon Resources has raised $A10M and secured a new cornerstone investor to bring on its 100%-owned, $US120M development capex direct shipping ore Minim-Martap Bauxite project central Cameroon.
The $A0.10cps placement brings Perth-based strategic investor and bauxite/alumina focused Peter Su to the Canyon board with a $5.6M, 9.4% stake in the company.

CANYON RES: MAIDEN RESERVE BACKS 20-YEAR MINIM MARTAP MINE LIFE

Post date: 
08/10/2020 - 09:51
 

Canyon Resources has posted a maiden probable JORC ore reserve of 97.3Mt @ 51.1% total alumina and 2.3% total silica supporting at least 20 years mine life for its 100%-owned Minim Martap bauxite project in Cameroon.
While the reserve supports nominal 5Mtpa production rates of 20 years, the Australian-based company sees significant opportunity to extend mining beyond the initial modelled period for one of the highest-grade, lowest-contaminant global bauxite producers.

CANYON RESOURCES TECHNICAL DATA BACKS HIGH QUALITY CAMEROONS BAUXITE OUTPUT

Post date: 
07/08/2020 - 17:55
 

(DEVELOPMENT)
Canyon Resources is preparing to advance offtake and strategic partnership negotiations for its Minim Martap bauxite project in Cameroon supported by newly developed technical data highlighting the high quality of its Camalco Premium Bauxite product.

CANYON RESOURCES: QUALITY KEY TO MINIM MARTAP OFFTAKE TALKS

Post date: 
07/08/2020 - 13:03
 

Canyon Resources has followed up its robust PFS by releasing technical data on its 100%-owned Minim Martap bauxite project in central Cameroon, with its targeted commencement in mid-late 2023.
Like the PFS, Canyon chief development officer Rick Smith says the technical specification sheet further validates the very high quality of the bauxite to be produced at Minim Martap. It will be used for the company’s offtake negotiations.

CANYON RES: MINER ADVANCES MINIM MARTAP LOGISTICS SOLUTIONS

Post date: 
03/30/2020 - 11:13
 

Canyon Resources continues to line up logistical solutions as it progresses towards a June qtr PFS release date on its 100%-owned Minim Martap bauxite project in central Cameroon.
The Australian-based explorer has secured potential berth and storage allocations at Douala port and progressed access talks with rail authority Camrail supporting its initial low-capex, low-opex first stage development.

CANYON RESOURCES: MINIM MARTAP PFS STILL ON TRACK

Post date: 
03/23/2020 - 08:44
 

While mining companies around the world are pulling back due to COVID-19, Canyon Resources remains confident it will complete the PFS for the proposed 3Mtpa bauxite direct shipping ore development of its 100%-owned Minim Martap project in central Cameroon on track for completion in the June qtr.
Australian-based Canyon says its in-country technical and operation team are all Cameroonian, unaffected by travel restrictions and following advice from a specialist doctor who visited the site last week.

STUDY BACKS STAND-ALONE STAGE 1 CAMEROON BAUXITE DEVELOPMENT

Post date: 
11/26/2019 - 13:27
Author Name: 
MBM Correspondent

Scoping study identifies a robust stand-alone development option for Canyon Resources’ Minim Martap bauxite project in Cameroon, as the initial step towards a prefeasibility study due next year on a two-stage larger project.

CANYON RES: STUDY POSITIVE FOR MINIM MARTAP BAUXITE

Post date: 
11/26/2019 - 09:40
 

A scoping study has supported Australian-based Canyon Resources’ plan for a 2-stage development of its 100%-owned Minim Martap bauxite project in Cameroon, demonstrating the proposed stand-alone first stage would be technically sound and financially robust.
The study outlines a $US78M capex development can produce 3Mtpa DSO bauxite at C1 costs of $43/t, which at a forecast realised price averaging $51/t would deliver free cash-flows of $27Mpa.

CANYON RES: MINIM MARTAP CONFIRMS GLOBAL BAUXITE STATUS

Post date: 
09/27/2019 - 11:53
 

African-focused explorer Canyon Resources has confirmed its Minim Martap project in Cameroon as a global tier 1 bauxite deposit with total resources increasing 62% to 892Mt @ 45.1% Al2O3 and 2.8% SiO2.
Indicated resources grew 850% to 839Mt @ 45.2% Al2O3 and 2.8% SiO2, including a high-grade 431Mt @ 48.8% Al2O3 and 2.6% SiO2 containing substantial zones of over-50% Al2O3 with very low contaminants.
Plus, there’s still substantial exploration upside with just 50% of the project’s plateaux drilled to date.

CANYON RESOURCES: $4M FUNDING FOR MINIM MARTAP STUDIES

Post date: 
07/23/2019 - 20:45
 

Bauxite explorer Canyon Resources has raised $A4M to fund prefeasibility studies on its Minim Martap project in the Adamwa region of Cameroon through an oversubscribed placement of 25M shares to sophisticated and professional investors at $0.16ps.
MD Phillip Gallagher says it will enable Canyon to move its 100%-owned global tier 1 project into the next stage of development.

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Mining Billboard

Insights and analysis from leading industry commentators

IEA DEMANDS MORE PACE AS GLOBAL MOMENTUM BUILDS FOR CARBON CAPTURE TECHNOLOGIES

(ENVIRONMENTAL) The accelerating pace of development proposals implementing carbon capture, use and storage technologies has been highlighted in a new report by the International Energy Agency, but more must be done by governments and industry to meet global targets for countering global warming and ocean acidification.

SOUTH AFRICAN MINERS SET AGENDA FOR SECTOR TO LEAD POST-COVID RECOVERY

(CORONAVIRUS) Minerals Council South Africa is ready to play its part in driving a national economic recovery from COVID-19, but first it’s up to the government to tackle the productivity issues that long pre-date the pandemic.

‘BUILDING FORWARD BETTER’ REPORT OUTLINES KEY MINING ROLE IN POST-COVID RECOVERY

(CORPORATE) COVID-19 continues to have devastating impacts on the lives, livelihoods and learning of millions of people, but the new Building Forward Better Framework published by a mining industry-business networker-international policy NGO outlines a key role for the global resources sector in long-term recovery.

RIO TINTO ACCEPTS PUBLIC’S JUDGEMENT WITH TOP LEVEL JOB LOSSES OVER HERITAGE BLUNDER

(CORPORATE) The departure of three senior managers over Rio Tinto’s legal but badly misjudged destruction of priceless heritage features to dig up more iron ore illustrates that maintaining relationships with stakeholders is becoming more important to major corporations than business performance.

LAW FIRM, RIGHTS CAMPAIGNER ALLEGE KILLINGS AND ABUSES AT PETRA DIAMOND MINE

(HUMAN RIGHTS) UK-based diamond miner Petra has pledged to investigate allegations of shootings, beatings and other human rights abuses at its Williamson mine, a 75-25% joint venture with the Tanzanian government in the northern Shinhanga province.

MINERAL EXPLORATION SURGE BACKS AUSTRALIA’S ESCAPE FROM RECESSION

(EXPLORATION) Booming expenditure on mineral exploration could be vital to helping the Australian economy to emerge from very unfamiliar territory, its first recessing in nearly 30 years.
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