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Australia-based SolGold’s PEA has come up with 4-mine production cases for the $US10.1B-$10.5B, 85%-owned Cascabel Project’s Alpala copper-gold-silver deposit in N Ecuador, producing an estimated average annual 207,000t of copper, 438,000oz gold and 1.4Moz silver in conc over an initial 25-years, based on the 50Mtpa mining scenario.
The study gives the project an NPV8% ranging from $4.1B-$4.5B and an IRR of 24.8%-26.5% at a pre-...
Anglo American Platinum has sacked about half of its 1,300-strong workforce at its 100%-owned Mototolo platinum mine in South Africa’s Limpopo province over an illegal strike by members of the General Industrial Workers Union.
The workers began the strike, unprotected under SA labour laws, on May 12 over changes made to their medical scheme since Amplats took 89% control of the mine last year. The company argues its scheme offers similar benefits to...
Ariana Resources has overcome a fall in Mar 2019 qtr (Q1 19) gold-silver production to lift gross J/V income from its 50%-owned Kiziltepe open pit operation in Turkey to $10.86M from Q4 18’s $10.6M.
Gold output fell to 7,296oz from 7,517oz, with silver down to 84,109oz from 90,881oz, with operating cash costs jumping to $399oz from $349oz, but an average realised gold price up to $1,311oz from $1,237.5oz. Production was severely limited...
Rare earths miner/processor Lynas has joined Texan-based processor Blue Line Corporation in an MOU to develop rare earths separation capacity in the US.
The largest producer of rare earth materials outside China, Lynas says the proposed JV would be the only large-scale non-Chinese producer of separated medium and heavy RE products used in permanent magnets, catalytic convertors, catalysts, batteries, electronics, polishing powders and...
Pan African Resources has lifted Mar 2019 9-months (9-months YTD2019) gold production from its continuing South African operations 51.4% on YTD2018 to 123,771oz, with robust performances from the Barberton complex.
Output from the Barberton underground-surface-tailings complex jumped 11.7% to 72,944oz, with the Elikhulu tailings retreatment plant producing 29,881oz of gold sold. 1st gold from the development/equipping of Evander Mines’...
World leading diamond miner, Russia-focussed ALROSA, has tripled its Mar 2019 qtr (Q1 19) net profit to RUB24B from R7.9B in Q4 18, largely due to an 18% jump in sales to 10.6M carats, which pushed revenue up 15% to R70B.
The profit was also on the low base of the Q4 2018 net profit due to one-off factors, including impairments, and the 16% growth in EBITDA to R31.4B. Sales exceeded production by 35% due to increased sales of smaller-...
Australian miner Laneway Resources remains confident of establishing a sound financial platform from the current 4-month mining campaign at its 100%-owned Agate Creek gold project 60km W of Kidston in N Qld.
After pouring its first gold mid-month, Agate Creek recovered 2,220oz by end-April from processing 5,012t @ 13.91g/t through Maroon Gold’s Black Jack plant. Recoveries averaged 99%, above expectations.
The Charters Towers plant...
Matsa Resources has done another deal with gold miner AngloGold Ashanti Australia (AGAA) for ore purchase/processing from Matsa’s 100%-owned Red October mine, S of Laverton in Western Australia, to be treated at AGAA’s nearby Sunrise Dam gold mine for up to 5 years.
The terms of the agreement remain confidential, but Matsa says they are based on the previous successful relationship and detailed MOU between the 2. 1st...
Red 5 has lifted the bulk mining mineral resource for its King of the Hills (KOTH) Gold Project, in Western Australia’s Eastern Goldfields 65% to 66Mt grading 1.5g/t Au for an estimated 3.11Moz contained gold.
76% of the resource, or 53.1Mt at 1.4g/t Au for 2.35Moz, is in the higher-confidence indicated category, the results underpinning the PFS on a stand-alone mining/2Mtpa-4Mtpa processing KOTH operation and development of the Rainbow...
Anson Resources has lined up funding support for its strategy of establishing a pilot plant to produce lithium carbonate from its Paradox brine project in Utah, USA, following completion of an $A0.6M share purchase plan with a $A15M equity facility with global energy and resources investor Long State Investment.
Strategic investor Chia Tai Xingye International has also committed to a $1.65M placement of...