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A mergers/acquisition-driven Dec 2018 year (FY/CY18), culminating in South Africa vanadium-focussed Bushveld Minerals’ 1st year as 74% controlling stake-holder of Vametco, has seen the company lift net profit to $US49M from FY/CY17’s 10-months $892,648 loss, despite a tax bill up to $37.6M from $10.5M.
The Vametco ownership jump from 59% came with an average vanadium price up 149% to $81.2KgV, lifting revenue to $192M from $2.8M for a...
Lithium explorer and related technologies company, Lithium Australia, has come up with a maiden 185Mt vanadium resource at 0.33% V2O5, using a 0.2% cut, at part of the Youanmi complex in the mid-west region of Western Australia.
The oxide resource of 96Mt at 0.34% and fresh resources of 88M at 0.33%, are within E57/978, held by Diversity Resources P/L, over which Lithium Australia has an option to purchase. The oxidised...
Mincor Resources has taken another big step in the restart strategy for its world-class Kambalda nickel operation near Kalgoorlie in Western Australia with a $A9.5M acquisition deal for Independence Group’s high-grade, 32,000t contained nickel Long Nickel sulphide operation, lifting Kambalda’s contained nickel to 161,000t.
| $9.5M NICKEL MINE DEAL... |
Mincor Resources has taken another big step in the restart strategy for its world-class Kambalda nickel operation near Kalgoorlie in Western Australia with a $A9.5M acquisition deal for Independence Group’s high-grade, 32,000t contained nickel Long Nickel sulphide operation, lifting Kambalda’s contained nickel to 161,000t.
16-year producer, Long Nickel was put on care/maintenance by Independence in June 2018. Mincor’s M...
Australian technology minerals company Talga Resources is targeting initial production in early 2021 after a PFS delivered outstanding project economics for its wholly owned Vittangi graphite project in north Sweden.
MD Mark Thompson says the proposed $US27M first stage capital cost for a conventional openpit mining operation offers the most immediate path to significant revenue.
New exploration partner Metalicity has established a target of 230,000-510,000oz as it prepares to begin initial drilling programs under its farm-in agreement with Nex Metals at the Kookynie gold project 180km N of Kalgoorlie in Western Australia’s Eastern Goldfields.
The JORC-compliant exploration target is based on Kookynie’s historical production, drilling results and past non-compliant resource estimates.
...
International coal miner Peabody has stuck with earthmoving parts and equipment supplier PTB for its Australian operations, awarding the Ausdrill subsidiary a 3-year contract extension worth $A126M for its Hunter Valley and Bowen Basin mines.
The extension to April 2019 continues a partnership covering the rent of mining and ancillary equipment dating back to 2015. Peabody has the option to extend the...
Australian iron ore major Fortescue aims to maintain supply of its Kings Fines low-alumina sinter fines product for key customers in China as well as in Japan and Korea with the go-ahead for the $US287M development of the Queens Valley mining area in the WA Pilbara.
The Queens development is 15km from the Kings ore processing facility in Fortescue’s Solomons Hub area. Forecast mine life is 10-15 years from completion in FY22.
As part of the...
Australian advanced materials specialist Neometals will turn its attention to determining processes for extracting titanium after a revised DFS confirmed the technical and economic feasibility of producing vanadium pentoxide and ferrovanadium at its 100%-owned Barrambie project in WA.
While the DFS focused on vanadium production as its primary operation, titanium represents about 95% of contained resource metal at the...
Bulletin - BARRICK OFFERS $285M TO BUY ACACIA MINING OUT OF ITS PEACE TALKS WITH TANZANIAN GOVERNMENT
The refusal of Tanzanian government of President John Magufuli to negotiate with executives of its largest gold producer, Acacia Mining, has prompted parent company Barrick Gold to launch a hostile takeover bid aimed at settling a bitter and expensive stand-off.
Canadian-based Barrick, which currently holds 63.9% of the company it founded as a wholly owned African subsidiary in 2000, has offered 0.153 of its shares for...