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The full story: In-depth news and analysis

AuSTAR GOLD PROMISES CAUTIOUS CORPORATE STRATEGY AFTER FAILED CENTENNIAL MINING BID

Australian gold miner AuStar has significantly narrowed its full year FY20 net loss despite the extra costs of its ultimately withdrawn attempt to build on its Victorian gold portfolio through a merger with the under-administration Centennial Mining.

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
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Kinross Gold Corporation

Exchange Code: 
TSX:K, NYSE:KGC
Website: 
http://www.kinross.com

Kinross Gold Corporation

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KINROSS GOLD: 20% RISE IN AuEq PRODN OVER NEXT 3-YEARS

Post date: 
09/18/2020 - 15:15
 

Canada-based global gold miner Kinross Gold has flagged a 20% rise in annual gold equiv production to 2.9Moz (+/- 5%) over the next 3-years, along with an overall downward trend in production cost of sales and capital expenditures to drive strong free cash flow.
The estimate is also based on current gold reserves of 24.3Moz, which does not include the company’s recent addition of 6.4Moz from the Lobo-Marte project in Chile, which has measured/indicated resources of 35.5Moz Au.

KINROSS GOLD: Q2 20 PROFIT JUMP ON HIGHER PRODN, LOWER COSTS

Post date: 
07/31/2020 - 17:16
 

Increased gold equivalent production from its world-wide operations and the avoidance of any major fallout from the COVID-19 pandemic, has seen Kinross Gold lift June 2020 qtr (Q2 20) net earnings to $US195.7M from Q1 20’s $122.7M.

KINROSS Q2 20 PRODN/PROFIT UP, COSTS DOWN

Post date: 
07/31/2020 - 17:09
 

A COVID-19 unscathed Kinross Gold has lifted its Q2 20 profit to $195.7M on the back of its 3 biggest and lowest costs mines

KINROSS: $25M TO RESOLVE MAURITANA GOVT DISPUTES

Post date: 
06/17/2020 - 16:03
 

Canada-based miner Kinross Gold has reached agreement with Mauritania’s govt under which the company will pay $US25M to resolve disputes over fuel use, tax exemptions and mining licences, Reuters reports.
Under the deal, the govt will give Kinross a 30-year exploitation licence for its new project Tasiast Sud, with Mauritania receiving a 15% free carried interest and an option to purchase an additional 10% after further feasibility work is completed.

KINROSS GOLD: $283M RUSSIAN GOLD PROJ ACQUISITION DONE

Post date: 
01/17/2020 - 00:39
 

Global gold miner Kinross Gold has completed its $US283M acquisition of the high-quality Chulbatkan open pit, heap leach gold development project in Russia from N-Mining.

KINROSS GOLD: $300M LOAN TO LIFT MAURITANIA GOLD PRODN

Post date: 
12/17/2019 - 11:34
 

Canada-based global gold miner Kinross Gold has signed a definitive loan agreement for up to $US300M for its Tasiast operation in Mauritania with World Bank Group member IFC, primarily to cover the $150M, 2nd phase development to lift output to an average 563,000oz pa between 2022-2028 from a 6-months annualised 388,000oz this year.
The initial drawdown is expected in early 2020.

NEWCREST MINING: SHARE DEAL BOOSTS LUNDIN GOLD STAKE TO 32%

Post date: 
12/06/2019 - 09:01
 

Australian major Newcrest has strengthened its interest in the near-production Fruta del Norte underground gold-silver mine in SE Ecuador by building its shareholding in Canadian miner Lundin Gold from 27% to 32%.
Newcrest has purchased 11M Lundin shares from Kinross Gold for $C79.6M at $7.25ps, a 4.2% discount to its last trade price.

KINROSS GOLD: $74M ROYALTY SALES TO MAVERIX

Post date: 
12/03/2019 - 16:41
 

International miner Kinross Gold has done a deal to sell its royalty portfolio to gold-focussed streamer/royalty company Maverix Metals for $US74M, including $25M cash and 11.2M shares, giving it a 9.4% stake in Maverix.
The transaction is targeted to close by year-end 2019.

KINROSS GOLD: YTD19 PROFIT UP, PRODN UP, COSTS DOWN

Post date: 
11/08/2019 - 15:44
 

Global miner Kinross Gold’s 9-months 2019 YTD (YTD19) net earnings have jumped to $US197.1M from YTD18’s $4.1M, with adjusted net earnings to $266.9M from $114.6M, on attributable gold equiv production up to 1.86Moz AuEq from 1.84Moz and on course for the lower end of FY/CY19 guidance of 2.5Moz at AISC $995oz AuEq.

KINROSS $193M YTD19 PROFIT JUMP

Post date: 
11/08/2019 - 15:39
 

Higher prodn, lower costs steer Kinross to $197M YTD19 profit and heading for FY/CY19 2.5Moz AuEq

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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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