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Mining Bulletin

The full story: In-depth news and analysis

NEW CENTURY MULLS TOP 10 GLOBAL FUTURE FOR STRUGGLING PACIFIC PROJECT

New Century Resources eyes the potential to transform Vale’s faltering Goro nickel project in New Caledonia into a long-term world-scale producer after being granted 60-day exclusivity to negotiate the acquisition of a 95% stake.

WESTERN AREAS' $28M PANORAMIC DEAL OPENS DOORS TO NEW ENERGY VEHICLES GROWTH

Western Areas sees its new strategic shareholding and partnership with Panoramic Resources as it works towards the reopening of the Savannah nickel project increasing its exposure to the emerging new energy vehicles global market. John Feary reports

$84M IMPAIRMENT, COVID-19 CLOSURES HAMMER MCEWEN BOTTOM LINE

McEwen Mining’s Q1 20 loss has blown out to $99.2M, hit by an $84M impairment and 3 COVID-19 mine shutdowns

ELEMENT 25 EYES EARLY START ON LOW-COST DEVELOPMENT STRATEGY FOR BUTCHERBIRD

Element 25 has confirmed the potential for its Butcherbird project to be Australia’s next significant manganese mine with a PFS identifying the opportunity for a low-cost, long-life development that will deliver first concentrate much earlier than previously anticipated. John Feary reports.

HUDBAY Q1 20 HIT BY LOWER PRICES, HIGHER COSTS AND MAJOR MINE SUSPENSION

A range of issues across its Americas base/precious metals operations has seen Hudbay Minerals Q1 20 loss blow out to $76M

TAKEOVER TARGET SEMAFO KICKS OFF 2020 WITH DOUBLED Q1 20 PROFIT

SEMAFO has overcome the COVID-19 virus bite to double Q1 20 profit on increased gold production from its Burkina Faso operations

SSR LAUNCHES $1.72B ALL-SHARE BID FOR ALACER GOLD

SSR Mining $1.72B bid for Alacer gold to create $4B market cap, 780,000oz AuEq pa producer

Gt PANTHER MINING Q1 20 LOSS UP ON PRODN FROM ALL 3 MINES DOWN

All 3 of Great Panther Mining’s operations have posted Q1 20 output losses, taking its net loss out to $40.5M

NEW 740,000oz UNDERGROUND DISCOVERY AT EQUINOX’ AURIZONA

Equinox Gold has found an additional 740,000oz underground gold resource at its Aurizona open pit capable of generating an extra $1B revenue over a 10-year LoM

A DOUBLED Q1 20 LOSS SEES HECLA CUT FY/CY20 GUIDANCE

Hecla Mining’s Q1 20 loss blowout to $17.2M on lower production of all its commodities sees FY/CY20 gold/silver expectations cut

BARRICK GOLD EXPECTS Q1 20 GOLD-COPPER SLIDE TO CONTINUE THROUGH FY20

Q1 20 gold-copper production falls have prompted Barrick Gold to cut its FY/CY20 gold expectations by 200,000oz

COVID RUCTIONS FORCE SIGNIFICANT CUTBACKS AT TERRACOM’S BLAIR ATHOL THERMAL COAL MINE

TerraCom is taking “decisive action” to reduce operations and unit costs at its Blair Athol thermal coal mine in Queensland, Australia to cope with the market volatility resulting from the global COVID-19 pandemic.

COVID-19 BITES TAIL END OF IAMGOLD’S Q1 20, CUTTING OUTPUT BY 22,000oz

IAMGOLD has cut its Q1 20 loss back to $34.4M from $303.8M, despite reduced gold production and resultant revenues

CHINESE LITHIUM GIANT YIBIN TIANYI OFFERS NEW $10.7M BACKING FOR AVZ’S DRC PROJECT

After a previous deal failed the Australian foreign investment hurdle, AVZ Minerals has attracted a new $10.6M equity investment from prospective Chinese lithium chemical producer Yibin Tianyi for its flagship Manono lithium-tin project.

CENTERRA BACK FROM FY/CY19 LOSS WITH $20M Q1 20 PROFIT

Despite easing gold production, increased copper output has seen Centerra Gold post a $30M turnaround to Q1 20 $20M profit

ALAMOS $50M TURNAROUND TO Q1 20 $12.3M LOSS

Mulatos and Island Gold shine, despite Alamos’ Q1 20 production slide and turnaround from profit to $12.3M loss

BIG LUNDIN Q1 20 LOSS PROMPTS FY2020 PRODN GUIDANCE CUTS

Diversified global miner Lundin Mining has cut FY2020 guidance after big Q1 20 swing from profit to $111.5M loss

TASEKO MINES Q1 20 LOSS BLOWOUT TO $49M, PRODN DOWN

Taseko Mines’ Q1 20 loss increased by $40M to $49M with moly output nearly halved, but copper less badly affected

FIRST QUANTUM CUTS Q1 20 LOSS, DESPITE LOWER PRODUCTION

Despite lower COVID-19 affected copper-gold output, First Quantum has cut its Q1 20 net loss by $53M to $62M

ST BARBARA Q3 20 OUTPUT DOWN TO 91,550oz ON HIGHER COSTS

2 of St Barbara’s 3 mines have posted production losses in Q3 20, with costs up, the exception being Simberi in PNG with higher output and lower costs
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W RESOURCES: LA PARRILLA DELIVERS FIRST CONCENTRATE

 

Seville, Nov 28

UK-based W Resources remains on track towards its target 2Mtpa ROM production with first production of tungsten and tin concentrate for sale at its flagship La Parilla mine in the Extremadura region of SW Spain, an important stage in the T2 ramp-up phase heading towards production of 2,700tpa WO3 concentrate.
Completion of the new concentrator allows W to produce tungsten and tin concentrate in line with La Parrilla’s standard concentrate specifications. First shipments to customers from the new concentrator are scheduled for Dec.
Throughput is expected to significantly increase when it moves from day shifts to 24-hour operation next month.

W Resources Plc

Exchange Code: 
AIM:WRES
Website: 
http://www.wresources.com

UK-based tungsten explorer/developer with projects in Portugal and Spain.
Formerly Caspian Holdings

Mining Brokers

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