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Mining Bulletin

The full story: In-depth news and analysis

SOUTH32 TARGETS MID-2023 FINAL INVESTMENT DECISION ON ARIZONA CRITICAL METALS MINE

South32 has laid out the potential for a multi-decade operation in studies that establish its Hermosa project in Arizona, USA as a globally significant producer of metals critical to a low-carbon future.

ENDEAVOUR ADVANCES ITS AMBITIOUS GROWTH PLANS WITH $70M DEAL FOR SSR MEXICAN PROJECT

Canadian miner Endeavour Silver has signalled plans to accelerate its vision to move from the mid-tier to a premier global position among silver producers with the $70M agreement to acquire one of the world’s largest undeveloped silver projects from SSR Mining.

REBOUNDING IRON ORE PRICES BRING HIGH-GRADE WEST AUSTRALIAN MINES OUT OF SLUMBER

The sustained rebound in iron ore prices from their late-2020 declines have encouraged the West Australian operators of two small-volume, high-grade mines to bring them back into mine production.

ST BARBARA HEADS BACK TO FULL OPERATIONS UNDER NEW SIMBERI MINE PLAN

Six-month shutdown of St Barbara’s Simberi gold mine in PNG ends with the completion of a new deep-sea tailings pipeline and plant upgrades together with a revised mine plan.

ARTEMIS GOLD RESTARTS TALKS ON BLACKWATER PLANT CONTRACT AFTER AUSENCO CONTRACT ENDS

Canadian developer Artemis Gold is confident it will still meet its capital costs and timeline forecasts for the Blackwood gold project in central BC despite the termination of its plant engineering, procurement and construction contract with Ausenco Engineering.

MERDEKA-LION TO SPEED PANI GOLD DEVELOPMENT AFTER CONSOLIDATION BATTLE WIN

Indonesian miner Merdeka Copper Gold is planning drilling and feasibility studies to advance development of what it expects to build into one of the largest gold producers in the Asia-Pacific region after achieving its long-held plan to consolidate management of the Pani project in Sulawesi.

ZIJIN MINING MEETS DEADLINE FOR FIRST PRODUCTION AT TIBETAN COPPER PROJECT

Chinese government-owned Zijin Mining has met its end-2021 deadline to commence operations at its 50.1%-owned Julong Copper operation in the precipitous mountains of Tibet, slated to become the country’s largest porphyry copper mine.

ADANI NEARS FIRST EXPORT SHIPMENT FROM VILIFIED CARMICHAEL THERMAL COAL MINE

Miners and resource industry call for stricter policing of anti-coal activists as Australia’s giant Carmichael thermal coal mine finally presents its first production to its export terminal.

SILVER LAKE TARGETS LONG-LIFE ONTARIO GOLD MINE WITH CANADIAN INSOLVENCY TRANSACTION

Inside track or stalking horse? Australian miner Silver Lake Resources completes a subscription deal it hopes will enable it to take 100% ownership of insolvent Canadian company Harte Gold and its Sugar Zone mine in Northern Ontario.

UPDATED FIREFINCH-GANFENG LITHIUM STUDY BACKS GOULAMINA PROJECT'S WORLD STATUS

A revised definitive feasibility study has increased the proposed production rate and more than doubled forecast economic outcomes for the Firefinch-Jiangxi Ganfeng joint venture’s Goulamina lithium project in Mali.

MINE STARS ELLISON, RINEHART JOIN FORCES IN PILBARA PLAN TO OPEN UP WA STRANDED ASSETS

Australian mining entrepreneurs Chris Ellison and Gina Rinehart have joined forces in a bid to resolve the logistics issues that have prevented the development of significant stranded assets in WA’s massive Pilbara iron ore province.

IMAGE SECURES NORTH PERTH BASIN GROWTH ROUTE WITH $24M ENEABBA DEAL

West Australian mineral sands miner Image Resources has secured access to identify and secure potential development projects outside its current portfolio with a $A24M deal to acquire Sheffield Resources’ non-core Eneabba project.

STUDY HIGHLIGHTS EUROPEAN MARKET ADVANTAGES FOR ALTA ZINC’S GORNO PROJECT

Alta Zinc is looking at the start of production in H2 2024 following the completion of an initial scoping study outlining robust economics for the redevelopment of the historic Gorno zinc-lead mine in northern Italy close to Europe’s industrial infrastructure and smelter network.

WA GRAINFIELDS PROJECT GROWS INTO AUSTRALIA’S LARGEST UNDEVELOPED COPPER RESOURCE

Explorer Caravel Minerals has positioned its namesake project in the WA Wheatbelt as Australia’s largest undeveloped copper project after continued drilling and a reduction in cut-off grade to reflect revised costs and higher commodity prices delivered a 53% increase in its mineral resource.

NST $95M NEWMONT ENERGY BUSINESS DEAL LOCKS IN SUPER PIT SECURITY AND COSTS

Northern Star Resources completes a series of transactions that delivered it 100% ownership of the iconic Kalgoorlie Super Pit by exercising its option to acquire the regional power business owned by former mine manager Newmont Corporation. John Feary reports

3D RESOURCES PARTIAL SCOPING STUDY BACKS VIABILITY OF HISTORIC ADELONG GOLD PROJECT

Weather issues that have delayed drilling of one of the three major deposits have forced Australian explorer 3D Resources to release a partial scoping study of the mothballed Adelong gold project in southern NSW, but the company says it’s already enough to suggest a viable project.

RINEHART BOOSTS IRON ORE PORTFOLIO WITH JV AGREEMENT OVER 1Bt-PLUS MAGNETITE PROJECT

Entrepreneur Gina Rinehart’s Hancock Prospecting will take the lead in bringing the Mount Bevan project in Western Australia’s Central Yilgarn region to development through a $9M-plus earn-in deal with current JV owners Legacy Iron and Hawthorn Resources. By John Feary

GEOPACIFIC HALTS $200M WOODLARK GOLD DEVELOPMENT OVER EARLY WORKS CONCERNS

Australian-based project developer Geopacific Resources has delayed work for up to six months at its Woodlark gold project in Papua New Guinea after delays and issues over the costs and efficiency of pre-development activities.

RIO TINTO CUTS FY IRON ORE FORECASTS AFTER COVID IMPACTS SLOW MINE DEVELOPMENTS

The impact of COVID-19 counter-measures on labour recruitment and retention in the Australian mining sector has slowed completion of global miner Rio Tinto’s Gudai-Darri iron ore mine development and forced a cut in its FY2021 export forecasts.

STRONG PANDEMIC RECOVERY BOOSTS LUCAPA CY2021 PROFIT MARGIN FORECAST

The unexpected strength of the recovery in rough diamond prices from the COVID-19 pandemic disruptions has enabled international miner Lucapa to boost its already-ambitious profit forecasts for the calendar year.
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MINCOR RES: $60M RAISING COMES WITH 16% NICKEL RESOURCES JUMP

 

Perth, Jun 25

Mincor Resources has launched a 2-tranch $A60M capital raising to underpin capital development and accelerate exploration at its 100%-owned Kambalda nickel operations in Western Australia, where its Cassini Main resources have been lifted 16%.
The raising includes a fully underwritten, 2 tranche placement of new shares at $0.72cps for $50M, of which major shareholder IGO has committed $13M to take its company stake to 8%. In addition, a non-underwritten SPP is planned to raise up to $10M.
The deals will increase Mincor’s cash reserves to over $100M, allowing it to progress to a potential final investment decision for its Kambalda operations and fund a portion of the $97M project development costs, along with resource extension and exploration programs including Cassini Main and Cassini North.
The financials came with a 16% increase in the Cassini Main resource to 58,700t within 1.5Mt @ 4% Ni with the indicated resource increased by 7,300t Ni.

Mincor Resources NL

Exchange Code: 
ASX: MCR
Website: 
http://www.mincor.com.au

Perth-based company focused on nickel mining and exploration in the Kambalda region of Western Australia

IGO Limited (Independence Group)

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

Perth-based miner with nickel, copper-zinc-silver and gold operations in Western Australia.
Jan 2020: Name change from Independence Group NL

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