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Mining Bulletin

The full story: In-depth news and analysis

PURE ALUMINA $27M BID FOR HIGH PURITY ALUMINA PRODUCER POLAR SAPPHIRE

Pure Alumina could be producing high purity alumina this year if its $27M acquisition of Canadian producer Polar Sapphire is successful. By Mark Mentiplay

STUDY POINTS BASE RESOURCES TO POSSIBLE 2021 PRODUCTION START AT TOLIARA SANDS MINE

Base Resources has already begun work on a DFS after completing a preliminary study that confirms its Toliara project in Madagascar as one of the world’s best mineral sands development opportunities.

AERIS RES $812M BID FOR GLENCORE’S CSA COPPER MINE

Australia-based Aeris Resources is in late stage discussions with Glencore to buy its CSA copper mine for $812M. By Mark Mentiplay

ANTOFAGSTA FY18 PROFIT PLUNGE, DESPITE RECORD COPPER

Lower grades/copper price and higher inputs have pushed Antofagasta’s bottom line profit down $320M to $880M, despite record copper output.

MINCOR SIGNS NEW BHP DEAL TO REVIVE KAMBALDA NICKEL PRODN

A new deal to fast track the restart of Mincor Resources’ WA nickel operations envisages up to 600,000tpa nickel ore through BHP’s Kambalda concentrator. By Mark Mentiplay

STUDY BACKS CANADIAN METALLURGICAL COAL MINE CHALLENGE TO AUSTRALIAN DOMINANCE

Shorter rail haulages and an uncongested port emerge as key factors that could assist British Columbian project to overcome the costs advantage of Australia’s Hunter Valley mines.

FEARS FOR SAFETY OF TAILINGS DAM FORCE CLOSURE OF ANOTHER VALE IRON ORE MINE

A day after its tailings dam was given an official clearance, Vale has ceased operations of another of its Brazilian iron ore mines by order of a local civil court.

MINE PROBLEMS, WRITE DOWNS BLOW MANDALAY FY18 LOSS TO $63.7M

Mandalay is hoping its loss-making FY18 problems are behind it as the company targets increased near future production to cut its latest $63.7M loss

$30M K92 PNG GOLD MINE EXPANSION TO DOUBLE CAPACITY

On the heels of 1st year of commercial production from its PNG gold mine, K92 to spend $30M doubling capacity for 120,000oz AuEq pa over initial 13-years

BARRICK, NEWMONT UNITE IN JV TO CREATE WORLD’S BIGGEST GOLD COMPLEX IN NEVADA

Hostile takeover attempt ends with joint venture agreement to unite Tier 1 mines and 48Moz of gold reserves into a single giant JV operation.

PFS BACKS DUAL OPEN PIT/UNDERGROUND AVESORO LIBERIAN GOLD OPERATION

An 89% jump in gold reserves, including 461,000oz underground, has PFS backing a dual open pit satellite/underground operation at Avesoro’s Liberian project

GOLDEN GATE CENTRE OPENING UP A BRIGHTER FUTURE FOR MILLENNIUM AT NULLAGINE

Strong drilling results underpin new mine developments that are expected to deliver a strong uplift in head grades at Millennium Minerals’ Nullagine gold project in Western Australia.

REJECTED BARRICK WANTS US J/V TALKS WITH TAKEOVER TARGET NEWMONT

Barrick Gold wants to talk J/V on Newmont Mining’s Nevada, US, operations, despite having its Newmont takeover rejected and plans to go directly to Newmont shareholders on a full takeover

NEWMONT REJECTS HOSTILE $18B BARRICK GOLD TAKEOVER BID

The Newmont Mining board has unanimously rejected the Barrick Gold bid saying it’s not as good as the previously announced Newmont-Goldcorp get together

NEW NUMBERS LIFT KALIUM’S POTASH PROJ PRODN/FINANCIALS

A string of new increased production/financials are already flowing from completion of FEED work on Kalium Lake’s WA potash project, head for prodn next year

VALE ACCEDES TO OFFICIAL PRESSURE FOR DEPARTURE OF CEO AND TOP EXECUTIVES

Brazilian mining giant Vale promises continued transparency with authorities over investigations and remediation of the Feijao mine disaster.

Gt PANTHER 880% COLLAPSE TO $10M FY18 LOSS

Great Panther Silver is now looking to its acquisition of Aussie gold miner Beadell to restore its fortunes after a FY18 profit-to-$10M loss

OZ MINS FY18 PROFIT SLIDE DESPITE INCREASED COPPER/GOLD

Increased copper-gold production from OZ Minerals’ Prominent Hill operation continues to underpin OZ Minerals’ other advanced asset developments, but unable to offset FY18 $9M profit fall

CHINESE DEVELOPER CHENGTUN SET TO TAKE KALONGWE PROJECT LEAD THROUGH NZURI TAKEOVER

Nzuri Copper directors urge shareholders to accept $110M cash bid from DR Congo development powerhouse Chengtun Mining Group.

FRESNILLO FY18 PROFIT PLUNGES 73% TO $350M

Higher costs, lower commodity prices and a $22.5M Silverstream loss have trumped increased silver/gold production to cut Fresnillo’s FY19 profit 73%

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Bulletin - STUDY POINTS BASE RESOURCES TO POSSIBLE 2021 PRODUCTION START AT TOLIARA SANDS MINE

Published: 21 Mar, 2019, Relevance: 1

African mineral sands miner Base Resources now sees the end of 2021 as a possible operational start date for its 100%-owned Toliara project in Madagascar after a prefeasibility study supported its development as a long life mine delivering annual revenue of $US250M and $110M profit over more than 30 years.
A little over a year after its $US92M acquisition from World Titane Holdings, the study estimates Toliara’s net...

Breaks - BASE RESOURCES: PFS BACKS WORLD-CLASS HOPES FOR TOLIARA

Published: 21 Mar, 2019, Relevance: 1

Australian-based Base Resources is targeting a final investment decision in the March 2020 qtr on its Toliara project in Madagascar after its PFS confirmed it as one of the world’s best mineral sands development opportunities.
The PFS outlines capex cost of $US439M for the 13Mtpa first stage development, with the option for a $67M second stage expansion to 19Mtpa.
It’s forecast to produce an average 806,000tpa ilmenite, 54,000tpa...

Breaks - VIMY RESOURCES: NEW SEARCH TOOLS BACK NT URANIUM HOPES

Published: 20 Mar, 2019, Relevance: 1

Australian uranium explorer and developer Vimy Resources is talking up the potential of its 75%-owned Alligator River project in the NT following the success of its 2018 exploration field season.
CEO Mike Young said reviews of the work program were delivering convincing evidence of the region’s enormous potential.
Vimy holds 75% of the King River-Wellington Range joint venture with 25% partner Rio Tinto.

...

Billboard - VIMY NT URANIUM SEARCH SUCCESS DRAWS ON ATHABASCA EXPLORATION TOOLKIT

Published: 20 Mar, 2019, Relevance: 1

Growing recognition of “significant similarities” with the high-grade uranium endowment of Canada’s Athabasca Basin is creating more excitement for Australian explorer and developer Vimy Resources at its Alligator River project in the Northern Territory.
Uranium mining has a significant history in the NT although its only currently operating project, Energy Resources Australia’s Ranger mine, is now processing stockpiled...

Breaks - PARINGA RES: $56M FACILITY TO FUND POPLAR GROVE EXPANSION

Published: 20 Mar, 2019, Relevance: 1

Coal producer Paringa Resources will be funded to immediately begin the expansion of its Poplar Grove mine in the USA to 2.8M tons pa after executing a $US56M debt facility term sheet with Tribeca Global Resources Credit.
After commencing mining in the March qtr, Poplar Grove’s first sales to cornerstone customer LG&E are expected next week.
At steady state production, the mine is forecast to generate EBITDA of...

Breaks - CRUSADER RESOURCES: ASSET SALE TO ADVANCE BORBOREMA

Published: 20 Mar, 2019, Relevance: 1

Crusader Resources has opted for a cash injection while it focuses on bringing its Borborema gold project in Brazil into production, agreeing to sell its two next-in-- line projects for $A3M - $1M cash and the rest shares in fellow explorer Meteoric Resources.
While it considers the Juruena and Novo Astro projects prospective, Crusader has chosen the cash injection and reduced expenditure commitments while retaining an...

Breaks - CALEDONIA MINING: FY18 PROFIT UP SLIGHTLY ON LOWER GOLD PRODN

Published: 20 Mar, 2019, Relevance: 1

Canada-based Caledonia Mining has lifted Dec 2018 year (FY/CY18) profit to $US10.7M from 2017’S $9.38M, despite a fall in gold production from its 49%-owned Blanket Mine in Zimbabwe and gross profit down to $21.58M from $26.3M primarily due to the lower production, higher costs and a lower realised Q4 18 gold price.
Net cash from operating activities plunged to $17.66M from $24.5M due to an increase in working capital and gold...

Breaks - AERIS RES: $812M BID FOR CSA MINE AT LATE STAGE

Published: 20 Mar, 2019, Relevance: 1

Copper miner Aeris Resources has confirmed it's in late-stage discussions to buy the CSA underground copper mine in Australia’s central New South Wales from global miner/trader Glencore for $US575M ($A812M) cash, shares and a royalty.

AERIS RES $812M BID FOR GLENCORE’S CSA COPPER MINE
READ THE FULL STORY IN BULLETIN. ...

Bulletin - AERIS RES $812M BID FOR GLENCORE’S CSA COPPER MINE

Published: 20 Mar, 2019, Relevance: 1

Copper miner Aeris Resources has confirmed it's in late-stage discussions to buy the CSA underground copper mine in Australia’s central New South Wales from global miner/trader Glencore for $US575M ($A812M) cash, shares and a royalty.
The offer mix is about $525M cash and $50M Aeris shares, with funding yet to be finalised, but proposed to be a combination of $250M- $300M debt, an equity capital raising of $185M- $240M...

Breaks - INDIORE: WA TRIAL FOR IRON ORE BENEFICIATION PROCESS

Published: 20 Mar, 2019, Relevance: 1

Australian miner IndiOre has made its first major move since the collapse of its major project in India triggered a business restructure, reaching agreement to trial its iron ore beneficiation process at the Ridges project in WA.
IndiOre cancelled the $A11M expansion of its Kurnool mine in Andhra Pradesh in Jan after failing to find the ore it needed to support the operation.
It now plans to use the wet magnetic separation process...

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Mining Billboard

Insights and analysis from leading industry commentators

ST BARBARA OPTS TO STAY WITH THE TRUCKS AS IT GOES DEEPER AT WA’S GWALIA GOLD MINE

(TECHNOLOGY) St Barbara feasibility study rejects hydraulic hoisting options and will stick with an optimised truck-haulage system for the planned extension of mining at its Gwalia mine below 2,000m. John Feary reports

VIMY NT URANIUM SEARCH SUCCESS DRAWS ON ATHABASCA EXPLORATION TOOLKIT

(EXPLORATION) There are no alligators in the Athabasca Basin, just as there aren’t in the Alligator River (they’re crocodiles). But there’s growing realisation that the huge wilderness area in the Arnhem Land region of Australia’s Northern Territory shares another characteristic with the Athabasca Basin region in northern Saskatchewan, Canada – monster uranium deposits.

SOARING TIN PRICES PROMPT AUSSIES TO ACCELERATE DEVELOPMENT PLANS

(BATTERY MINERALS) LME tin prices hitting $A30,000t have stimulated plans to accelerate development planning for two of Australia’s most significant potential producers, both within the vicinity of the producing Renison project in NW Tasmania. John Feary reports

CHINA TOP RARE EARTHS IMPORTER/EXPORTER

In a sudden and surprising development, China has become both the world’s biggest rare earth elements importer/exporter

INNOVATIONS BRING AMRUN BAUXITE PROJECT ON LINE SAFELY, QUICKLY AND UNDER-BUDGET

(CONSTRUCTION) The commissioning ahead of schedule and under budget of the 28Mtpa Amrun bauxite development on Australia’s Cape York Peninsula is being credited to an innovative construction approach by Rio Tinto.

NORTHERN STAR PROJECT AWARD BRINGS BGC CONTRACTING BACK TO WA GOLD OPERATIONS

(CONTRACTING) The award of the initial infrastructure and mining contract for the Ramone deposit at Northern Star Resources’ Jundee mine marks a significant return to West Australian gold mining by the up-for-offers BGC Contracting. John Feary reports

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