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Mining Bulletin

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ENDEAVOUR MINING MERGER TALKS WITH CENTAMIN

Weekend merger talks follow gold-miner Centamin’s rejection of a $1.9B all-scrip takeover bid from Endeavour Mining

GHANA MINE CONTRACT LOSS DELIVERS 16% CUT IN PERENTI’S FY20 NET PROFIT GUIDANCE

Challenges keep mounting for African Mining Services with the termination of its ongoing surface mining, load and haul contract at the Nsuta manganese mine in Ghana forcing a 16% cut in its FY20 net profit forecast.

TASMAN $15M TO RESTART NZ GOLD MINE

Tasman Mining is looking for more cash after securing $15M from the NZ Govt to restart the 695,000oz Blackwater Gold Project on NZ’s South Island. By Mark Mentiplay

FLOODS/POWER CUTS HIT SA MINING PRODUCTION

Widespread flood-generated power cuts are shutting down mining operations across South Africa

TERANGA BUYS 90% OF SENEGAL GOLD PROJ FOR UP TO $430M

In another big sale, Barrick Gold and its J/V partner are selling 90% of their Senegalese gold project to Teranga Gold for up to $US430M

VALE TO OFFLOAD TROUBLED NEW CALEDONIA NICKEL ASSETS

While remaining bullish on nickel, Brazilian mining major Vale is looking to offload its troubled New Caledonia nickel operation by the middle of next year.

NEW STUDY THUMBS UP FOR RESOURCES & ENERGY’S MT MACKENZIE

An initial 45,500oz gold over a near 4-year life has been outlined for Resources and Energy’s MacKenzie Au-Ag project, with a later expansion already under consideration

AXIOM CHALLENGES SOLOMONS GOVERNMENT OVER LATEST THREATS TO ISABEL NICKEL PROJECT

Australian-based Axiom Mining claims Solomons government has no legal right to demand fines or confiscate passports in the battle over rights to one of the Pacific region’s potentially greatest nickel projects.

CENTAMIN REJECTS ENDEAVOUR’S $2.5B MERGER DEAL -- Update

Endeavour Mining has revealed details of its merger/takeover plan for fellow gold miner Centamin, valued at around $C2.5B. Centamin has rejected the offer.

ENDEAVOUR REVEALS $2.5B MERGER DEAL WITH NON-RESPONSIVE CENTAMIN

Endeavour Mining has revealed details of its merger/takeover plan for fellow gold miner Centamin, valued at around $C2.5B

OUTLOOK GOOD FOR THE NEW NEWMONT GOLDCORP

The outlook through 2024 for world gold major Newmont Goldcorp is good, with momentum maintained by increased production and lower costs

TROY DEMANDS GUYANA GOVERNMENT ACTION BEFORE REOPENING SUSPENDED KAROUNI MINE

Miner Troy Resources is taking advantage of an ill-considered Guyana government shutdown order to demand progress on overdue mining permits and import restrictions before it resumes operations at its suspended Karouni mine.

ALLEGIANCE PUSHES FORWARD WITH NEW ELK COAL PLANS AFTER FS EXCEEDS EXPECTATIONS

A scoping study that exceeded expectations has prompted Allegiance Coal to being forward plans to complete the acquisition and restore production at the long-mothballed New Elk metallurgical coal mine in SE Colorado, USA.

RIO TINTO ANNOUNCES $749M INVESTMENT TO SUSTAIN PILBARA IRON ORE CAPACITY

World No 2 iron ore producer Rio Tinto aims to sustain output of its flagship Pilbara Blend product through a $749M investment program to facilitate the mining of existing and new deposits at its Western Turner Syncline Phase 2 mine.

EVOLUTION $625M RED LAKE BUY/EXPANSION PLAN

Evolution Mining has launched a $625 plan to buy Newmont Goldcorp’s Red Lake gold operation in Canada and make it a cornerstone asset. By Mark Mentiplay

STUDY BACKS STAND-ALONE STAGE 1 CAMEROON BAUXITE DEVELOPMENT

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.

EAGLE MOUNTAIN TARGETS LONG-TERM OPPORTUNITY WITH COURT APPROVAL OF ORACLE RIDGE PROJECT

US-focused explorer Eagle Mountain Mining is ready to go ahead with a potentially transformational acquisition after gaining court approval for its $6.4M acquisition of the long-idled Oracle Ridge copper mine in Arizona.

MINERAL RESOURCES TARGETS LONG-TERM 11Mtpa IRON ORE OUTPUT IN NEW YILGARN STRATEGY

West Australian company Mineral Resources, having built its reputation as a developer of stranded or undervalued assets, is targeting a long-term 11Mtpa iron ore operation under a new strategy for its Yilgarn operations in the state’s south.

ADRIATIC SEES 2022 START FOR $178M VARES POLYMETALLIC PROJ

Scoping study shows Adriatic Metals will need another $180M to get its $178M Vareš polymetallic project into production by targeted mid-2022

LITHIUM MARKET SLOW-DOWN FORCES 2020 CUTBACKS AT GALAXY’S MT CATTLIN MINE

Lithium producer Galaxy Resources is slowing production at its operating Mt Cattlin mine and reformatting the development plans for its Sal de Vida brine operation in Argentina as another victim of lithium’s slow customer uptake and falling prices. John Feary reports
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MINERAL RESOURCES TARGETS LONG-TERM 11Mtpa IRON ORE OUTPUT IN NEW YILGARN STRATEGY

By MBM Correspondent

West Australian company Mineral Resources, having built its reputation as a developer of stranded or undervalued assets, is targeting a long-term 11Mtpa iron ore operation under a new strategy for its Yilgarn operations in the state’s south.

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Mineral Resources Limited (MRL)

Exchange Code: 
ASX:MIN
Website: 
http://www.mineralresources.com.au

Perth-based mining services and processing mining and contracting company active in crushing, general mine services, infrastructure provision and base metal concentrate recovery. Group companies are PIHA, Crushing Services International, Process Minerals International, Polaris Metals, Auvex Resources and Mesa Minerals

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