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A higher proportion of gold concentrate sales and increase in gold doré inventory saw Azerbaijan-focused miner Anglo Asian's FY2017 operating profit fall to $US9.2M, from $11.7M a year earlier.
Gold production fell to 59,617oz (FY2016: 65,394oz) while copper rose to 1,991t (1,941t) and silver 172,853oz (165,131oz) at AISC of $604/oz ($616/oz).
Total revenue slid to $71.8M ($79.2M).
The continued strong performance of the Proyecto Riotinto project in SW Spain has lifted Atalaya's March qtr (Q1) after-tax profit to €8.8M, from €5.7M a year earlier.
A 7.2% increase in copper production to 9,441t (Q1FY2017: 8,805t) at AISC of $US2.65/lb ($2.01/lb) saw revenue double to €52.7M (€25.6M) and EBITDA improve to €15M (€12.6M).
Net cash flow from operations was €18.4M after changes in working capital (€14.3M).
South African miner Pan African is on track for annualised gold production of 21,000oz from the Barberton Mines tailings retreatment plant in the next month with commissioning of its regrind mill heading to completion on schedule and budget this week.
The 5-month construction is planned to reduce the coarseness of material from the Harper Dump and will improve material handling and recoveries.
Pan African's Elikhulu project remains...
Growing Australian miner Whitehaven will move to 100% ownership of the Winchester South coking coal project with binding agreement to buy the 25% held by retailer Scentre Group.
The deal follows its $US200M deal in March to acquire Rio Tinto's 75% interest in the undeveloped 356Mt JORC resource project in the Bowen Basin, Qld.
Consideration for the Scentre Group transaction has not been disclosed,...
Bauxite producer ABx has begun the process for development of a pilot plant to produce aluminium fluoride for aluminium smelters and lithium ion battery manufacturers.
ABx approved incorporation of wholly owned subsidiary ALCORE to fund and manage construction of a $A2.5M AlF3 pilot plant at Berkeley Vale in NSW.
The ALCORE technology converts raw bauxite worth about $50/t into AlF3 and by-products worth 20 times the value at operating cost of $400...
Gold explorer Spitfire Materials has boosted the potential of its flagship, 100%-owned, 1.26Moz resource Aphrodite Gold Project with a $A1M+ shares/cash deal to buy the remaining 49% of the Mulwarrie Gold Project, 150km NW of Kalgoorlie in Western Australia.
The company has already earned 51% of the project, 65km from Aphrodite, under a farm-in/JV agreement with Goldfield Argonaut P/L. Under the new agreement, Spitfire will issue...
Pantoro has declared a maiden underground probable ore reserve of 62,000oz @ 5.4g/t gold at the Wagtail and Rowdies deposits, the targets of its planned underground development of the Nicolsons project in Western Australia's Kimberley region.
The company has updated JORC mineral resources for the deposits to 126,000oz (574,000t @ 6.8g/t), with the mineralisation open along strike and at depth.
West Australian miner Pantoro is maintaining its forecast for an increase of nearly 66% in gold production rates at its 100%-owned Nicolsons project at Halls Creek by the end of 2018 despite delays in final approvals for its Wagtail underground mine development.
Nicolsons is on track to produce about 55,000oz for the year to end-June, but expects to produce first development from the underground development beneath the Wagtail openpit...
First Cobalt has advanced a $C5M bridging loan to enable fellow Canadian US Cobalt to continue its drilling program at the Iron Creek project in Idaho, USA ahead of the scheduled completion of their takeover about May 31.
The loan agreement comes as the BC Supreme Court approves the $150M all-shares transaction that will advance FCC's drive to become the leading North American pure-play cobalt company.
FCC says the loan will become...