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DRILLING POINTS TO MORE NEAR-TERM GROWTH AT SANTANA’S LEADING KIWI PROJECT

Explorer Santana Resources has highlighted significant near-term potential for further resource growth at its 100%-owned Bendigo-Ophir project in New Zealand’s South Island after drilling assays consistently surpassed past average grades at its Rise and Shine deposit.

GLENCORE’S $1.1B SALE OF COBAR MINE HERALDS NEW AUSTRALIAN BASE METALS EMPIRE

Global miner/marketer Glencore has reached binding agreement on the $US1.1B-plus-royalty sale of long-lived Cobar underground copper mine in Australia to special purpose funder Metals Acquisition Corporation.

NEWCREST SEES MORE DECADES AHEAD WITH GO-AHEAD FOR NEW CADIA STAGE DEVELOPMENT

Newcrest Mining has given the go-ahead for the next stage development of its flagship Cadia gold and copper mine in NSW, Australia after completing a feasibility study on its panel cave PC1-2 development.

GASCOYNE RESOURCES’ DALGARANGA A VICTIM OF THE PRESSURES ON WEST AUSTRALIAN MINES

Battling West Australian miner Gascoyne Resources will turn its focus to a financial restructuring and progressing higher-grade exploration assets to support a long-term mining plan after the sudden shutdown of its flagship Dalgaranga mine.

FIREFINCH ABOUT-TURN ON RECAPITALISATION SPELLS DEATH FOR MALI’S ‘GORILLA’ GOLD MINE

Australian-based miner Firefinch has given up on its efforts to recapitalise its 80%-owned Morila gold mine in Mali, almost certainly sending the mine once known as “Morila the Gorilla” into insolvency.

GROWING LINDA PROJECT TARGET HIGHLIGHTS ZINC POTENTIAL AT FLINDERS RANGE

New laboratory assays have doubled the size of the zinc soil anomaly target at critical minerals explorer Stelar Metals’ Linda zinc project in South Australia’s Flinders Ranges, with the scale and DSO grade indicating its potential for economic mineralisation at depth.

FALL OF GROUND AFTERMATH TRIGGERS ADMINISTRATION FOR RED RIVER’S THALANGA MINE

Australian miner Red River Resources has appointed administrators to its Thalanga zinc-copper-lead mine to tackle threats to its solvency due to continuing performance issues following a fall of ground incident nearly three months ago.

MALLEE RESOURCES REACTIVATES AVEBURY NICKEL MINE IN SIX MONTHS

Explorer Mallee Resources has joined the ranks of Australian nickel sulphide producers after making a successful start to the commissioning of the processing plant at its 100%-owned Avebury project in Tasmania.

MINERAL RESOURCES STILL PONDERING STRATEGIC OPTIONS FOR LITHIUM BUSINESS

Australia mining and services company Mineral Resources is continuing to evaluate “strategic options” for its rapidly growing lithium hard rock operations in the Pilbara and Goldfields regions of WA.

CAVALIER LIFTS HOPES FOR LEONORA PROJECT AFTER FIRST DRILL CAMPAIGN

West Australian explorer Cavalier Resources reports encouraging results in recent drilling that targeted extensions to the existing resource area at its 100%-owned Crawford gold project at Leonora.

CANNON RESOURCES PUTS OUT THE JV SHINGLE FOR WA’S COLLURABBIE PROJECT

West Australian explorer Cannon Resources has identified 55 areas of interest including potential targets for shallow geochemistry following analysis of historical geophysical data at its Collurabbie nickel-copper-PGE and gold project.

ELEVATE IDENTIFIES BIG URANIUM TARGET AT NAMIBIA’S KOPPIES PROJECT

Elevate Uranium has raised the potential to add significantly to its maiden 20.3Mlb U3O8 inferred mineral resource at its Koppies project in Namibia with the identification of a mineralised zone extending over 10km and up to 1,000m wide.

MID-2023 TARGET FOR APPROVAL OF HIGH-GRADE FEDERATION DEPOSIT UNDERGROUND MINE

Australian miner Aurelia Minerals has outlined the starting physical and economic picture for the development of an underground mine at its high-grade, low-cost Federation polymetallic deposit in the Cobar Basin of central-western New South Wales.

WA NICKEL EXPLORER ST GEORGE MINING JOINS THE TREND TO FOCUS ON LITHIUM

The first assays of visibly mineralised pegmatite rock samples have validated the potential for significant lithium mineralisation at St George Mining’s Mount Alexander project in the NE Goldfields of Western Australia.

KINGSLAND MINERALS DRILLING BREATHES LIFE BACK INTO CLEO URANIUM PROJECT

Australian explorer Kingsland Minerals has laid the foundation to grow the footprint of the Cleo uranium mineralisation based on initial assay results from its maiden drilling program in the historic Pine Creek mining region in the NT.

EXPLORATION SUCCESSES CARRY BELARAROX TO NEW PHASE IN NSW SEARCH

Australian explorer Belararox is considering the release of a mineral resource estimate next month as it progresses metallurgical testwork on targets at the historical Native Bee mine site, part of its 100%-owned Belara project in NSW.

MAGMATIC RESOURCES' MASSIVE INTERSECTION SHARPENS ITS CORVETTE FOCUS

Australian explorer Magmatic Resources has made an impressive start to its drilling campaign on the Corvette prospect at its Myall licence in NSW, delivering the highest-grade, broadest and deepest mineralised interval. Ross Louthean reports

SAMS CREEK PROJECT EMERGES AS AN UNDERGROUND PLAY FOR SIREN GOLD

Australian explorer Siren Resources is following up the potential for an underground development of Sams Creek, New Zealand's largest undeveloped gold project.

HARMONY GOLD BUILDS COPPER STRATEGY IN $230M AUSTRALIAN PROJECT BUY

South African-based Harmony Gold Mining reached agreement on the $230M acquisition of the Eva copper-gold project from Canadian owner Copper Mountain Mining, diversifying its commodity range and risk profile.

NEW TALISMAN MINES PREPARES TO REACH THE LIGHT AT THE END OF ITS TUNNEL

New Talisman Goldmines holds meetings with a range of industry specialists as it moves into detailed preparations for its strategic plan to produce gold from its NZ mine in 2023.
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IGO Limited (Independence Group)

Exchange Code: 
ASX:IGO
Website: 
http://www.igo.com.au

IGO Limited (Independence Group)

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INDEPENDENCE LIFTS QUARTERLY PROFIT AGAIN

Post date: 
10/28/2013 - 07:39

Independence Group has maintained momentum from its turnaround year in FY 2013, recording a September quarter (Q1 2014) profit of $A9M and underlying EBITDA of $24.9M from higher production at lower costs at its 100%-owned Long nickel mine in Western Australia.
Q1 Long production was ahead of guidance at 2,991t nickel in concentrate (Sept 2102 qtr: 2,952t) at cash costs including royalties of $A3.54/lb ($3.88).
FY 2014 production guidance at Long is 9,000-10,000t at $4.30-4.40/lb.

INDEPENDENCE RETURNS TO PROFIT ON HIGHER OUTPUT

Post date: 
08/29/2013 - 08:33

Independence Group has turned around its fortunes on the back of improved revenues from its 100%-owned Long nickel mine and Jaguar copper-zinc mine in Western Australia to report a net profit after tax of $A18.3M for the year ended June 2013.
The result, compared with a $285.3M loss in FY2012, was achieved on total revenue that rose 4% to $225.9M (FY2012: $216.6M).
Net cash flow from operations doubled to $64M ($32M).

FINDERS RESOURCES BOARD CHANGES NOT A TAKEOVER: CHAIRMAN

Post date: 
08/23/2013 - 10:12
Author Name: 
John Feary

Shareholder Taurus Funds Management completes its shake-up of Indonesian project developer’s management but denies it’s taking control. John Feary reports

ANGLOGOLD BRINGS FORWARD ITS FIRST TROPICANA GOLD PRODUCTION

Post date: 
08/02/2013 - 08:54
Author Name: 
John Feary

New mines in the Australian outback and DR Congo will help to bury global miner’s older marginal producers. John Feary reports

ANGLOGOLD MINE BEATS PRODUCTION DEADLINE

Post date: 
08/01/2013 - 22:34

AngloGold Ashanti has entered commissioning of the giant Tropicana gold project 330km east of Kalgoorlie in Western Australia, up to three months ahead of the original schedule.
The mine (AngloGold 70% and manager, Independence Group 30%) is now expected to produce first gold in the September quarter.
Anglogold’s Graham Ehm says commissioning of a significant low-cost mine in an emerging gold province will improve the quality of the company portfolio.

SHIPMENT DELAY DROPS INDEPENDENCE TO Q4 LOSS

Post date: 
07/31/2013 - 09:03

A delayed copper concentrate shipment has dropped Australian miner Independence Group to a $A4.3M after-tax loss for the June quarter (Q4), down from a $15.9M profit in the previous quarter.
Independence’s unaudited underlying EBITDA for the quarter was $15.9M, but a $12M copper shipment planned for June was delayed by weather and will now be recorded in the September quarter and the June 2014 financial year.
The company ended FY2013 with $27.2M cash, down from $55.6M a month earlier.

INDEPENDENCE CUTS BACK ON STOCKMAN ACTIVITIES

Post date: 
07/05/2013 - 11:07
Author Name: 
Christine Feary

Australian miner Independence Group is slowing down work at its Stockman copper-zinc project in East Gippsland, Victoria in a bid to conserve cash.
The decision is based on managing financial resources in a tough economic climate.
Independence is ceasing all exploration at Stockman and curtailing the enhanced feasibility study activities.
The company plans to maintain sufficient personnel and resources to progress Stockman through to the approval stage.

MACMAHON ADDS ‘MILESTONE’ DRILL TO TROPICANA MINE FLEET

Post date: 
05/29/2013 - 07:31
Author Name: 
John Feary

For global manufacturer Sandvik, delivery of the 100th DR500 small track drill cements its place in surface mining technology. John Feary reports

ORION TAKES TO THE AIR IN FRASER RANGE SEARCH

Post date: 
05/27/2013 - 13:17

Orion Gold is following in the tracks of successful nickel explorers Sirius Resources and Western Areas as it begins exploration of its newly acquired Fraser Range project in Western Australia.
The tenements acquired through the all-scrip takeover of unlisted Kamax Resources are flanked to the north by AngloGold Ashanti-Independence Group’s Tropicana advanced construction gold mine and to the south by the headline-grabbing Nova nickel-copper-cobalt discovery.

ORION GOLD TRACKS A ‘NEW’ NOVA AT FRASER RANGE

Post date: 
05/27/2013 - 12:49
Author Name: 
John Feary

Gold explorer hopes to follow the Sirius Resources lead, by finding resources that it thinks may have been missed by Australia’s most successful nickel finder. John Feary reports

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US GOVERNMENT BACKS IONEER PROJECT AS KEY TO CRITICAL MINERALS SUPPLY SECURITY

(DEVELOPMENT) The US government has recognised the potential value of Ioneer’s Rhyolite Ridge lithium-boron project in Nevada to the national push for security of critical minerals supply with the offer of a $700M development loan.

SAUDI MINING GIANT SEEKS MORE GROWTH THROUGH INTERNATIONAL PARTNERSHIPS

(EXPLORATION) Saudi Arabia’s majority government-owned mining company Ma’aden has unveiled three new initiatives using partnerships with international miners and the nation’s massive investment capacity to advance a new phase of domestic and international growth.

GLOBAL COAL USE REACHING ALL-TIME HIGH ... BUT INDUSTRY TRENDS POINT TO RAPID DECLINE

(COMMENTARY) The global use of coal for electricity generation will hit record levels this year, but lack of new investment in export-driven coal projects supports the expectation that peak coal has been reached and will rapidly decline in the face of global pressure on fossil fuels.

THE YOUNG AUSTRALIANS WHO WON A HUMAN RIGHTS CASE AGAINST AN ENORMOUS COAL MINE

(COMMENTARY) A Queensland special court has made legal history by recommending refusal of a coal mine development on climate change grounds, in the first case in Australia that links human rights and climate change.

AUSTRALIAN COURT SETS NEW ‘RIGHTS’ STANDARD TO BLOCK PALMER'S THERMAL COAL MINE

(ENVIRONMENTAL) Australian natural resources court adopts climate change and human rights arguments to oppose giant thermal coal mine development.

ABB ENLISTS PERENTI FOR MINING ELECTRIFICATION PUSH TOWARDS NET ZERO EMISSIONS

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