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The full story: In-depth news and analysis

MANDALAY FLAGS BIG FY20 IMPROVEMENT FROM FY19 FALL

Mandalay Resources is expecting a big improvement in FY2020 gold production after an Aussie-led fall in FY19

RIO TINTO BACKS MORE GLOBAL STABILITY TO SUPPORT HIGHER FY2020 IRON ORE FORECAST

World iron ore leader Rio Tinto predicts 3% increase in Pilbara shipments after first-half weather and operational challenges restrict FY2019 production.

IAMGOLD FY19 PRODN PLUNGE, WITH COSTS UP

IAMGOLD sees some new light after FY19 gold prodn fall to 762,000oz, with 2020 expecting about the same, but 2021 hoping for the top end of 760,000oz-840,000oz

RESOLUTE MINING TIGHTENS FOCUS ON AFRICA AFTER $300M RAVENSWOOD MINE SALE

Specialist Australian resources-focused private equity group EMR Capital has added a third Queensland mine to its international portfolio of eight major mines and projects with its up to $A300M acquisition of the Ravenswood gold mine in north Queensland from Resolute Mining.

2020 VISION SEES HALF-MILLION-OUNCE BREAKTHROUGH FOR RESOLUTE MINING

After a disappointing 2019, Resolute Mining is ready to cash in on strong production growth, lower operating costs and reduced capital demands in the coming 12 months. John Feary reports

CONZINC PREPARES FOR COMPLEX $1.3M FIGHT OVER SACKING OF MEXICAN CONTRACTOR

Consolidated Zinc admits it has been blindsided by the launching of complex legal proceedings launched by contractor Ganti over the termination of its mining contract at the Plomosas zinc-lead-silver mine in northern Mexico.

SIEMENS TO HONOUR AUSSIE ADANI COAL DEAL

Big German engineer Siemens says that while it will honour its contract to participate in the Adani Group’s controversial Carmichael thermal coal project in Australia, it should have been wiser at the outset.

‘LOST’ RESOURCES LEAVE EVOLUTION FACING 25,000oz GOLD SHORTFALL AT MT CARLTON MINE

Australian miner Evolution has drastically worsened production and cost forecasts at its Mt Carlton gold mine in North Queensland after drilling significantly reduced ore resources it had expected to be mining over the next six months.

€52M LOAN ALLOWS GULF MANGANESE TO BRING KUPANG SMELTER INTO PRODUCTION THIS YEAR

The long wait for funding is over, with the finalisation of a €52M structured loan facility allowing Gulf Manganese to complete development of the first two smelters at its Kupang Smelting Hub project in the West Timor province of Indonesia.

DFS HIGHLIGHTS POTENTIAL MUNGLINUP ROLE IN GLOBAL GRAPHITE SUPPLY STRATEGY

Australian-based miner Mineral Commodities advances a vertically integrated strategy supplying graphite concentrate to key battery markets through its Munglinup project in Western Australia and Skaland project in Norway. John Feary reports

CONTRACTOR SWITCH TO ASSIST TURNAROUND AT PANORAMIC’S NICKEL SAVANNAH MINE

Resources expects to name the preferred underground mining contractor for its Savannah nickel project in Western Australia after identifying the switch from owner mining as a key to overcome the equipment reliability issues that have dogged the mine over the past year. John Feary reports

SUPER PIT SALE TAKES NEWMONT 2019 PROCEEDS TO TARGETED $1.4B+

The conclusion of the $800M sale of Western Australia’s big super pit gold project has taken Newmont to the top of its 2019 $1.5B cash target

PRESS RELEASE DELIVERS MORE BAD NEWS FOR PRAIRIE MINING’S POLISH STAND-OFF

A media statement by a neighbour and rival mining company spells more trouble for Australian-based Prairie Mining in its dispute with the Polish government over its two coal development projects.

NORTHERN STAR TO LEAD ALL-AUSTRALIAN TEAM IN CHARGE OF THE KALGOORLIE SUPER PIT

Australian gold miner Northern Star Resources is set to make the leap to the 1Moz annual production level with its $800M deal to take management control of the Kalgoorlie Super Pit in WA, making up an all-local ownership team with Saracen Mineral Holdings. John Feary reports

EQUINOX LAUNCHES $580M BID FOR LEAGOLD

Equinox Gold has launched a $580M all-share bid for fellow Canadian gold miner Leagold that’s targeting an average 1Moz pa during 2021

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
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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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