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Mining Bulletin

The full story: In-depth news and analysis

ANTOFAGSTA FY18 PROFIT PLUNGE, DESPITE RECORD COPPER

Lower grades/copper price and higher inputs have pushed Antofagasta’s bottom line profit down $320M to $880M, despite record copper output.

MINCOR SIGNS NEW BHP DEAL TO REVIVE KAMBALDA NICKEL PRODN

A new deal to fast track the restart of Mincor Resources’ WA nickel operations envisages up to 600,000tpa nickel ore through BHP’s Kambalda concentrator. By Mark Mentiplay

STUDY BACKS CANADIAN METALLURGICAL COAL MINE CHALLENGE TO AUSTRALIAN DOMINANCE

Shorter rail haulages and an uncongested port emerge as key factors that could assist British Columbian project to overcome the costs advantage of Australia’s Hunter Valley mines.

FEARS FOR SAFETY OF TAILINGS DAM FORCE CLOSURE OF ANOTHER VALE IRON ORE MINE

A day after its tailings dam was given an official clearance, Vale has ceased operations of another of its Brazilian iron ore mines by order of a local civil court.

MINE PROBLEMS, WRITE DOWNS BLOW MANDALAY FY18 LOSS TO $63.7M

Mandalay is hoping its loss-making FY18 problems are behind it as the company targets increased near future production to cut its latest $63.7M loss

$30M K92 PNG GOLD MINE EXPANSION TO DOUBLE CAPACITY

On the heels of 1st year of commercial production from its PNG gold mine, K92 to spend $30M doubling capacity for 120,000oz AuEq pa over initial 13-years

BARRICK, NEWMONT UNITE IN JV TO CREATE WORLD’S BIGGEST GOLD COMPLEX IN NEVADA

Hostile takeover attempt ends with joint venture agreement to unite Tier 1 mines and 48Moz of gold reserves into a single giant JV operation.

PFS BACKS DUAL OPEN PIT/UNDERGROUND AVESORO LIBERIAN GOLD OPERATION

An 89% jump in gold reserves, including 461,000oz underground, has PFS backing a dual open pit satellite/underground operation at Avesoro’s Liberian project

GOLDEN GATE CENTRE OPENING UP A BRIGHTER FUTURE FOR MILLENNIUM AT NULLAGINE

Strong drilling results underpin new mine developments that are expected to deliver a strong uplift in head grades at Millennium Minerals’ Nullagine gold project in Western Australia.

REJECTED BARRICK WANTS US J/V TALKS WITH TAKEOVER TARGET NEWMONT

Barrick Gold wants to talk J/V on Newmont Mining’s Nevada, US, operations, despite having its Newmont takeover rejected and plans to go directly to Newmont shareholders on a full takeover

NEWMONT REJECTS HOSTILE $18B BARRICK GOLD TAKEOVER BID

The Newmont Mining board has unanimously rejected the Barrick Gold bid saying it’s not as good as the previously announced Newmont-Goldcorp get together

NEW NUMBERS LIFT KALIUM’S POTASH PROJ PRODN/FINANCIALS

A string of new increased production/financials are already flowing from completion of FEED work on Kalium Lake’s WA potash project, head for prodn next year

VALE ACCEDES TO OFFICIAL PRESSURE FOR DEPARTURE OF CEO AND TOP EXECUTIVES

Brazilian mining giant Vale promises continued transparency with authorities over investigations and remediation of the Feijao mine disaster.

Gt PANTHER 880% COLLAPSE TO $10M FY18 LOSS

Great Panther Silver is now looking to its acquisition of Aussie gold miner Beadell to restore its fortunes after a FY18 profit-to-$10M loss

OZ MINS FY18 PROFIT SLIDE DESPITE INCREASED COPPER/GOLD

Increased copper-gold production from OZ Minerals’ Prominent Hill operation continues to underpin OZ Minerals’ other advanced asset developments, but unable to offset FY18 $9M profit fall

CHINESE DEVELOPER CHENGTUN SET TO TAKE KALONGWE PROJECT LEAD THROUGH NZURI TAKEOVER

Nzuri Copper directors urge shareholders to accept $110M cash bid from DR Congo development powerhouse Chengtun Mining Group.

FRESNILLO FY18 PROFIT PLUNGES 73% TO $350M

Higher costs, lower commodity prices and a $22.5M Silverstream loss have trumped increased silver/gold production to cut Fresnillo’s FY19 profit 73%

BARRICK GOLD LAUNCHES $17.8b BID FOR NEWMONT

After several days of confusion, Barrick Gold has launched a $17.8B bid for US rival Newmont Mining

CHALLENGING FY18 SEES CENTAMIN PRODN DOWN, COSTS UP, LOWER PROFIT

Operational challenges during FY 18 have seen just about all of gold miner Centamin’s major indicators down, with profit down over $50M to $152.6M

TITAN TARGETS LATIN AMERICAN GROWTH PROSPECTS THROUGH CORE GOLD ACQUISITION

Australian market interest in Latin America lies behind agreed merger of Titan Minerals with Canadian-based Core Gold.
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MINOTAUR EXPLN: OUT OF LEINSTER, INTO NEW NICKEL LISTING

 

Perth, Apr 16

Minotaur Exploration is selling its Leinster area tenements in Western Australia to an unnamed private purchaser, which is consolidating the area into a regional nickel play to be listed later this year.
The $A1.55M deal includes a $1M stake in the new nickel vehicle, $500,000 cash on mining within the Leinster tenements and $50,000 cash up-front, allowing the company to focus on its Saints nickel resource, 65km NW of Kalgoorlie, which has an inferred 1.05Mt resource @ 2% Ni for 21,000t of nickel, 0.2% Cu for 1,600t copper and 0.06% Co for 600t cobalt, using a 1% Ni cut, where an in-fill EM survey has just concluded.

Minotaur Exploration Limited

Exchange Code: 
ASX:MEP
Website: 
http://www.minotaurexploration.com.au

Adelaide-based company holding minerals exploration tenements in eastern Australia focused on using advanced geophysical techniques to locate buried virgin mineralisation

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