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Four nickel miners in the southern Philippines province of Tawi-Tawi, a significant source of high grade exports to China, have reportedly been suspended indefinitely during an industry audit ordered by the regional government.
Abdulraof Abdul Macacua, natural resources minister in the Bangsamoro Autonomous Region, told Reuters a "performance assessment and evaluation team" is reviewing the companies’ operations. No definite timeline has been...
Kinross Gold is pushed ahead with the $US150M, 2nd phase development of its Tasiast Gold Mine in Mauritania, lifting output to an average 563,000oz pa between 2022-2028 from a 6-months annualised about 388,000oz this year.
The incremental throughput capacity increase to 24,000t/d is based on the Tasiast 24k F/S, which envisages a ramp up to 21,000t/d by the end of 2021 and then to 24,000 t/d by mid-2023, extending LoM 4-years to 2033....
A market-driven non-cash impairment charge of $US246.6M driven largely by more conservative rough diamond pricing estimates has driven African-focused miner Petra Diamonds to NLAT of $258.1M for the June year (FY19).
The result, which compares with a $203.1M loss a year earlier, is based on revenue of $463.6M (FY18: $495.3M) attributed to a 5% fall in realised diamond prices. Adjusted EBITDA fell to $153M ($195.4M).
Petra credits its strong grip on...
Australian-based international explorer/developer SolGold is supporting investigations into the death of a contractor technician and the pilot in the crash of a helicopter on a regional exploration concession in N Ecuador.
It says no employees, contractors, consultants or any third parties were involved in the incident.
New majority shareholder Tserenpuntsag Tserendamba has promised further support for Mongolian developer Aspire Mining’s early development plan for its Ovoot coking coal project on top of his agreed $A33.5M placement this month.
Tserenpuntsag, who will hold 51% of Aspire following the placement, offered a corporate guarantee for up to $100M for Ovoot’s future debt or project financing.
The Mongolian businessman also confirmed he...
The near 5-month suspension of mining at Newmont Goldcorp’s Penasquito Gold Mine in Mexico will continue after govt-sponsored talks to resolve the dispute ended without a result.
The US mining major suspended operations at the mine in late April due to an illegal blockade imposed over claims over the mine’s impact on water supplies to the San Juan de Cedros community and issues with a trucking contractor.
The company says mining...
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Western Australia-based goldminer Northern Star Res is to spend $US30M ($A43M) expanding the processing plant at its Pogo gold mine in Alaska, US, 30% to 1.3Mtpa after lifting mining rates, implementation of its new mining fleet and the upgrading resources/reserves.
Expansion work on the mine, bought for $50M in Sept last year, will start this financial year and is expected to be completed in early CY2021. The $30M investment is in...
Australian-based Azure Minerals has had a rare victory over the taxman, winning a court order for the repayment of MXN10.34M in value-added tax to its 100%-owned subsidiary Minera Azure SA de CV.
The dispute relates to transactions in the 2016 financial year.
After the tax authorities declined its original claim for a refund, Azure was successful in its initial court application but had its victory overturned on appeal.
Azure’s challenge to the appeal court...
Miners Titan Minerals and Core Gold will try again to achieve a merger that will create an emerging South American-focused gold explorer, developer and producer, two months after their previously agreed transaction was blocked by a court.
Titan, the Australian-based bidder, said the strategic rationale for the merger remained compelling by combining its mining and processing assets in Peru with Canadian-based Core Gold’...