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One of the highlights of last week’s Investment in African Mining Indaba in Cape Town was the frank acknowledgment by South African President Cyril Ramaphosa of the difficulties facing the mining sector when considering exploration and investments.
Ramaphosa’s speech on the second day of the conference hit all the right notes for the national Minerals Council, which noted his pledges to have the private and public sectors work together to improve...
Phosphate explorer Chatham Rock may add rare earths to the potential production range for its newly acquired Korella mine and adjacent Korella South exploration area in N Qld, Australia.
Chatham Rock has enlisted national industrial research organisation CSIRO to evaluate the potential to use biomining techniques to extract the rare earth elements that enrich the Korella phosphate.
The use of...
Canadian-based miner Copper Mountain Mining has put a dampener on “media speculation” of a possible transaction related to its 100%-owned, development-stage Eva copper and gold project in Qld, Australia.
Noting that it does not as a policy comment on speculation, and regularly reviews strategic opportunities to enhance shareholder value, CMM says there are no pending transactions for the project.
The company has...
West Australian gold explorer Torian Resources has strengthened its emergence as a multi-commodity play after new drilling results confirmed extensive cobalt and scandium mineralisation at the Yttria prospect, within its Mt Stirling project near Leonora.
Torian identified heavy rare earths elements four months ago at Yttria, 5km S of its MS Viserion and Stirling Well gold deposits.
Its first 30 auger vacuum...
Rescue teams pumping water from a flooded Burkina Faso zinc mine, in which 8 workers have been trapped for almost a month, are drawing closer to a refuge chamber where they may have sought safety, Reuters reports.
The 8 have been missing since heavy rainfall caused flash floods at Canada-based Trevali Mining's Perkoa mine. The company said that while most workers underground were able to safely evacuate, those missing were below Level 520, 520m...
Great Panther Mining has managed to cut its Mar 2022 qtr (Q1 22) net loss to $US8.88M from its Q4 21 loss of $13.8M on lower metal sales volumes due to low production, offset partially by higher realized prices for gold, lead and zinc.
Similarly, the $1.17M EBITDA loss was well down on the previous $5.22M loss, along with revenue down to $33.43M from $42.66M, mine operating losses of $3.37M from a $4,16M loss, but cash flow from operations a negative $8...
Australian copper miner OZ Minerals is again backing junior explorer Resolution Minerals, agreeing to spend $A4M over five years to earn 51% interest in the Benmara project and potentially reaching 75% by delivering a final investment decision.
Benmara is about 200km SW of Resolution’s Wollogorang project, where the two companies entered a similar JV in August 2021. Both are in the NT close to the Qld border.
CEO Christine Lawley...
Hochschild Mining plans to invest about $US200M in the construction of a gold mine in Brazil, a project it will launch in the 2nd qtr of the year, Reuters reports.
CEO Ignacio Bustamante says construction of the Mara Rosa mine, acquired last year for $120M, will be ready to start production in the 1st half of 2024 and is expected to produce about 100,000oz of gold annually.
Advanced materials innovator Neometals will be partnered by Mercedes-Benz for the design and construction of a proposed 2,500tpa lithium-ion recycling plant likely to be constructed at the carmaker’s Kuppenheim operations in southern Germany.
The planned JV between Neometals’ 50%-owned subsidiary Primobius and M-B’s recycling business LICULAR envisages long-term R&D evaluating an industrial-scale development.
Neometals says the...
Jaguar Mining has plunged to a Mar 2022 qtr (Q1 22) net loss of $US6M from Q1 21’s $6.1M profit, mainly due to a foreign exchange loss of $4.6M and a $4.9M increase in operating costs. Revenue eased to $30.6M from $31.68M.
Gross profit was halved to $6.3M, while EBITDA plummeted to $1.73M from $13M, adjusted EBITDA to $6.78M from $11.94M, but with cash from operating activities up to $7.7M from $6.46M and free cash flow to $2.65M from $197,000.
Gold...