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Mining Bulletin

The full story: In-depth news and analysis

STANMORE LINKS WITH M RESOURCES TO RESTART MOTHBALLED PEABODY AUSTRALIAN COAL MINES

Australian miner Stanmore Coal seeks to take advantage of the many synergies and product blending opportunities with its existing operations after linking with M Resources to acquire the mothballed Millennium and Mavis Downs metallurgical coal mines in Australia’s Bowen Basin from Peabody Energy.

RIO TINTO AGREES FUNDING TERMS FOR OYU TOLGOI UNDERGROUND EXPANSION

Rio Tinto and its subsidiary Turquoise Hill Resources have reached a ‘constructive and equitable agreement’ to end their long dispute over the funding of the underground development of the Oyu Tolgoi copper-gold mine in Mongolia.

SYAMA MINE LIFE UPDATE BOOSTS RESOLUTE GOLD PRODUCTION AND COSTS FORECASTS

Australian-based gold producer Resolute Mining has upgraded life of mine production and costs performance at its Syama mine in Mali based on the success of its continuing exploration and mine design optimisation.

PANORAMIC SEES POSITIVE LOWER-RISK FUTURE FOR RESTARTED SAVANNAH NICKEL SULPHIDE MINE

West Australian miner Panoramic Resources is confident its recapitalisation, move to contractor mining/processing and recent developments will reduce the operating and financing risks that have previously dogged its long-life, high-grade Savannah nickel operation.

VALE PROMISES STRONG FUTURE FOR NEW CALEDONIAN NICKEL GIANT UNDER NEW OWNERS

The new owners of the giant Vale Nouvelle-Caledonia openpit nickel mining and processing complex see a significant future in servicing the growing demand for lithium-ion batteries for the global electric vehicles industry after completing the acquisition of the business from former owner Vale.

1Moz GOLD RESERVES PUT BARDOC ON TRACK TO BECOME SIGNIFICANT MID-TIER PRODUCER

A positive definitive feasibility study puts the Bardoc project on track to pour first gold in the December 2022 quarter, enabling West Australian explorer Bardoc Gold to make the transition to mid-tier producer and significant new gold sector player in the North Kalgoorlie region.

WONMUNNA DRIVES MINERAL RESOURCES TOWARDS ITS NEXT STAGE OF IRON ORE GROWTH

It’s taken West Australian company Mineral Resources just five months from breaking first ground to producing iron ore at its 100%-owned Wonmunna project, achieving the next step in the growth of its Utah Point Hub operations in the Pilbara region.

VITAL METALS SET FOR MINING START ON CANADIAN FIRST RARE EARTHS PRODUCER

Strong support from existing and new institutional investors has raised $A43M to allow Vital Metals to begin production at its Nechalacho rare earths project in Canada’s Northwest Territories in the June quarter.

PERPETUAL RESOURCES TARGETS 2021 FUNDING GO-AHEAD FOR NEW WA SILICA SANDS PROJECT

Australian silica sands project developer Perpetual Resources has underlined the potential of its Beharra project in WA’s Mid West to become the pre-eminent regional supplier of high-quality, low-impurity products to the growing Asia Pacific market.

TURQUOISE HILL CEO QUITS UNDER PRESSURE FROM RIO TINTO OVER OYU TOLGOI FUNDING DISPUTE

Turquoise Hill names ‘independent’ to pursue Oyu Tolgoi expansion funding negotiations with parent company Rio Tinto after chief executive Ulf Quellmann succumbs to pressure and resigns.

MOTHBALLED MINE BUILDS BASE FOR THOMSON RESOURCES’ INTEGRATED SILVER STRATEGY

The successful tender offer for the mothballed Texas project in SE Queensland is key to the plan by Australian explorer Thomson Resources to establish an integrated hub and spoke silver and gold operation straddling the New South Wales and Queensland border.

KIRKLAND LAKE BEATS COVID CHALLENGES WITH RECORD FY OUTPUT AND EARNINGS

Acquisition of the Detour Lake gold mine in Ontario has helped Canadian miner Kirkland Lake Gold to achieve record production, earnings and cash-flows amid the challenges of global pandemic.

FAST-ACTING RESERVES PROGRAM OPENS A DOOR TO RENEWED GROWTH FOR ANGLOGOLD

AngloGold Ashanti has established a ‘clear and credible path’ to extended, high-return growth with the identification of 6Moz in new ore reserves after the first 12 months of a multi-year investment program.

CHILEAN GIANT SQM GO-AHEAD ON INITIAL FUNDING FOR WA LITHIUM MINE-TO-REFINERY PROJECT

West Australian conglomerate Wesfarmers and Chile’s Sociedad Quimica y Minera have given their deferred final investment approval for ambitious vertically integrated lithium hydroxide development.

MALARTIC PARTNERS APPROVE THE START OF A NEW ODYSSEY FOR ICONIC CANADIAN GOLD MINE

The decades-long history of the Canadian Malartic gold mine begins its transition to a new era of underground operations with the go-ahead by JV partners Yamana Gold and Agnico Eagle Mines for the start of construction of the Odyssey mine.

ORION SEES BASE METALS MINING HOUSE OPPORTUNITY IN $18M S AFRICAN OPTION

Orion Minerals has outlined ambitions to restore the historic glory days of South Africa’s Okiep Copper Complex after signing a $16M option agreement that will transform it into a significant base metals mining house.

HERITAGE LEGISLATION CHANGES TO POSE UNKNOWN CHALLENGES FOR RIO TINTO IRON ORE

The fallout of its destruction of priceless heritage assets in Western Australia continues for Rio Tinto as it waits to see the potential impact of yet-to-be-revealed new state legislation on its mining, development and community relations.

PHILIPPINES GOVERNMENT TALKS RAISE HOPES OF REVIVING OCEANAGOLD’S SUSPENDED DIDIPIO MINE

International miner OceanaGold warns the timeline for a revival of its Didipio gold and copper mine in the Philippines remains uncertain despite a breakthrough in talks with government agencies on the renewal of its formal approval.

NEWCREST $146M EARLY WORKS APPROVAL EYES 3-YEAR PATH TO HAVIERON COMMERCIAL PRODUCTION

Newcrest Mining is advance on a potential 3-year path to commercial production at its 60%-owned Havieron gold-copper project in Western Australia’s highly prospective Paterson province after approving $A146M funding for early exploration works.

ALBEMARLE LEADS PUSH FOR US MINERALS SUPPLY SECURITY WITH $50M SILVER PEAK EXPANSION

Global specialty chemicals company Albemarle will take a lead in the US drive for security of supply of critical minerals with its planned $50M investment to double production from its Silver Peak lithium project in Nevada.
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THETA GOLD MINES: SA MINE UNDERGROUND STRATEGY ADVANCES

 

Johannesburg, Apr 8

Theta Gold Mines’ strategy of focusing on the very large underground mineral resource at its namesake project in the Eastern Transvaal goldfields in South Africa has progressed with the declaration of a 419,000oz (2.37Mt @ 5.49g/t) maiden underground mining reserve.
The Australian-based company says the reserve calculation, stemming from prefeasibility work on a group of mines in the Central Northern area of the project now tagged the TGME Underground project, highlights its potential to deliver reserve conversions from its existing resource base.
Theta still holds 3.5Moz of underground inferred resources available for conversion. The project’s combined underground and openpit reserves are now 4.53Mt @ 3.98g/t for 579,460oz.

Theta Gold Mines Limited (Stonewall Resources)

Exchange Code: 
ASX:TGM, OTCQB:TGMF
Website: 
http://www.thetagoldmines.com

Adelaide-based gold explorer, developer and producer focused on projects in South Africa and Australia.
Nov 2019: Listed for trading on US OTCQB market
Oct 2018: Name change from Stonewall Resources Limited
Previously Meridien Resources Limited (ASX: MRJ)

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