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Mining Bulletin

The full story: In-depth news and analysis

$2.8B IMPAIRMENTS SEE GLENCORE PLUNGE TO FY19 $404M LOSS

$2.8B of impairments has seen global major Glencore collapse from a FY/CY18 $3.4B profit to a $404M FY/CY19 loss

BIG FY19 AMPLATS PROFIT JUMP FAREWELLS CEO GRIFITH

Anglo American Platinum has emerged from power load shedding and a strike to more than double FY19 PGM production and lift its annual div from R11.25 to R52.6ps

SHEFFIELD RESOURCES SLOWS THUNDERBIRD DEVELOPMENT AFTER FUNDING STRATEGY FAILS

The proposed development of one of the world’s largest and highest-grade zircon and ilmenite-rich mineral sands ore reserves has been scaled back after the failure of Sheffield Resources to line up project funding through a strategic partner process.

BIG AGNICO TURNAROUND TO $473M FY19 PROFIT ON INCREASED PRODN

Agnico Eagle has followed up a very profitable FY19 on increased gold production by cutting FY/CY20 output expectations

INCREASED PRODN PUSHES FIRST QUANTUM TO FY19 $57M LOSS

It’s cost some money, but First Quantum is now on track to lift FY20 copper production well past 800,000t and gold past 280,000oz

PRETIUM FY19 PROFIT UP, DESPITE GOLD FALL

Pretium is expecting FY20 gold production to follow FY19’s downward trend, which managing a small increase in profit to $41M

EXPANDED BARRICK LOSS-TO-FY19 $3.97B PROFIT

Barrick Gold has gone from a big FY18 loss to an even bigger FY19 profit, while cutting debt in half and lifting Q4 19 dividend 40%

CAPSTONE FLAGS 2021 IMPROVEMENTS AFTER FY19 PRODN FALL

Capstone is predicting a 20% copper prodn jump and 10% lower costs by 2021 after lower FY19 output cuts net loss TO $16.2M

NEW CENTERRA MINE AIMING TO BOOST FY20 PRODN TO TOP-END 820,000oz

Centerra is expecting higher gold/copper prodn in FY20 after lifting FY19 output to 783,308oz and copper to 71.1Mlbs

HALF-YEAR PROFIT LEAP POINTS TO EVEN BRIGHTER FUTURE FOR NEW KCGM BOSS NORTHERN STAR

Northern Star basks in strong increases in revenue, earnings and cashflow in the December half-year, with even more to come from its acquisition of the 50% management interest in the Kalgoorlie Super Pit and the rapid improvement of its Pogo project in Alaska, USA.

WAFI-GOLPU COPPER-GOLD MINE PERMITTING PROCESS BACK ON TRACK AFTER COURT DISPUTE ENDS

PNG mines minister clears the way for JV partners Newcrest Mining and Harmony Gold to reopen negotiations with the national government on a special mining licence for the giant Wafi-Golpu gold and copper project.

DON MARIO MINE SHUTDOWN HITS Q1 20 PRODN/BOTTOM LINE

Orvana Mins has followed its FY19 losses with more in Q1 20 that came with the shut-down of its Don Mario mine in Bolivia

INCREASED FY19 PRODUCTION FAILS TO AVERT HECLA LOSS BLOWOUT

Despite increased production of all its commodities, Hecla Mining has seen its FY19 loss blow out to $100M+

BARRICK EYEING FREEPORT’S GRASBERG MINE, NOT THE COMPANY

Barrick Gold likes the big Grasberg mine in Indonesia, not all of owner Freeport McMoRan, CEO Bristow

PEABODY HAMMERED IN FY19, POSTING A $755M+ TURNAROUND TO A $211M LOSS

Coal sales down 21Mt+, impairments and write-offs have seen Peabody fall to a FY19 $211M net loss from FY18’s $544.4M profit

WINS ALL ROUND SEES ALACER’S FY19 PRODN/EARNINGS/CASH FLOW ROCKET

More than doubling FY19 gold production has seen Alacer Gold lift profit, with cash flow jumping to $255.2M from $99.3M

MIXED GLENCORE FY19 PRODN -- COPPER/NICKEL DOWN, COBALT/COAL/OIL UP

Glencore is looking for modest changes in FY20 commodity production losses, just easing out increases

TERRACOM AIMS FOR WIDE-SCOPE INTERNATIONAL THERMAL COAL BUSINESS WITH UNIVERSAL BID

Institutional shareholder undertakings give Australian-based TerraCom a 47% starting point for its unsolicited takeover offer for South African miner Universal Coal.

FORTESCUE TIPS CONTINUED CHINESE IRON ORE DEMAND TO SUPPORT EXPORT GROWTH

Fortescue Metals maintains forecasts of higher full year iron ore shipments underpinned by expectations of continued strong Chinese market demand.

NEWCREST MINING ACCEPTS $90M OFFER FOR ITS GOSOWONG GOLD MINE IN INDONESIA

Australia's Newcrest Mining chooses to end its 27-year relationship with the Gosowong gold mine rather than comply with the Indonesian government’s requirement to sell down from its current 75% shareholding to a minority interest.
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HAVILAH RES: MAJOR SHAREHOLDER STYMIES $100M GFG INVESMENT DEAL

 

Adelaide, Sep 12

Havilah Resources shareholders have rejected UK industrialist Sanjeev Gupta’s GFG Alliance’s up to $A100M proposed investment in the iron ore/copper developer’s South Australian projects that could have given GFG at 51% stake in the company.
Today’s EGM vote saw 76.4% of shareholders vote against the move and 23.6% for it. The EGM vote centred around Havilah’s Technical Director Dr Chris Giles, whose Trindal P/L is the company’s largest shareholder and who earlier supported the deal.

HAVILAH RES SHAREHOLDERS REJECT $100M GFG DEAL
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Havilah Resources NL

Exchange Code: 
ASX : HAV
Website: 
http://www.havilah-resources.com.au

Adelaide-based company with iron ore, copper, gold, cobalt, molybdenum and tin interests in South Australia

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