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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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Breaks - TANDO RESOURCES: TESTWORK BOOSTS SPD PROJECT STRATEGY

Published: 18 Mar, 2019, Relevance: 1

Results from plant simulation testwork are boosting Australian explorer Tando’s hopes for a low-cost operation that could generate early cash-flow from its 73.95%-owned SPD vanadium project in South Africa’s Gauteng province.
Tando says bulk sample testing returned concentrates grading 2.2% V2O5, among the highest reported concentrate grades.
A scoping study is nearing completion focused on Stage 1 development of a shallow, high-...

Breaks - PILBARA MINERALS: POSCO DEAL CLOSER ON DOWNSTREAM PLANT

Published: 18 Mar, 2019, Relevance: 1

Australian lithium-tantalum miner Pilbara Minerals is closer to a downstream value-adding role with the conditional decision to exercise its option with steel giant POSCO to establish South Korea’s first large-scale chemical conversion plant.
The proposed 40,000tpa lithium carbonate equivalent-capacity plant will deliver battery-ready lithium chemicals to rapidly growing battery manufacturing markets.
PLS may hold up to 30% JV...

Breaks - ALLIANCE MINERAL ASSETS: FY LOSS AS BALD HILL OUTPUT GROWS

Published: 18 Mar, 2019, Relevance: 1

New producer Alliance Mineral Assets has reported an after-tax FY2018 loss of $A42.5M after achieving commercial production in July 2018 at its 100%-owned Bald Hill lithium and tantalum mine 50km SE of Kambalda in Western Australia. The company lost $5.1M in FY2017.
Bald Hill produced 68,546dmt lithium concentrate for the year to end-Dec. Total sales were 49,899t included 8,859t sold during the development stage.
...

Broker - START THE WEEK: COMMODITIES (March 15, 2019)

Published: 18 Mar, 2019, Relevance: 1

LME ($US), Mar 15 –
Aluminium 1,868.00
Copper 6,410.00
Zinc 2,839.00
Nickel 12,845.00
Lead 2,053.50
Tin 21,340.00
Cobalt 30,000.00
Gold 1,302.30

COMEX ($US), Mar 15 -
Gold 1,302.30
Copper 2.9085
Silver 15.29

NYMEX ($US) 62% Fe CFR China, Mar 15 -
Iron ore 86.12

LBMA price data ($US), pm Mar 15 –
Platinum 831.00
Palladium 1,555.00

Broker - START THE WEEK: CALENDAR (March 17, 2019)

Published: 18 Mar, 2019, Relevance: 1

Public holidays –
Mar 17: St Patrick’s Day (various)
Mar 17: Sheikh Mujbur Rahman Birthday (Bangladesh)
Mar 18: Benito Juarez Birthday Holiday (Mexico)
Mar 18: Soldiers Day (Mongolia)
Mar 19: Father Day (Bolivia)
Mar 19: St Joseph’s Day (various)
Mar 20: Holika Dahana (India)
Mar 20: Erev Purim (Israel)
Mar 20: Full Moon Day (Myanmar, Sri Lanka)
Mar 20: International Francophonie Day (DR Congo)
Mar 20: Imam Ali Birthday (Iran)...

Breaks - TALKING POINT: STATS ADD MORE WEIGHT TO US MINING CAMPAIGN FOR PERMIT REFORMS

Published: 18 Mar, 2019, Relevance: 1

START THE WEEK: WHAT YOU NEED TO KNOW
The concern in the USA over its perceived vulnerability to foreign imports of the vital minerals needed for its economy, national defence, infrastructure and technological development can only be heightened by the annual Mineral Commodity Summaries report released by the US Geological Survey.
Domestic minerals are the foundation of America’s manufacturing and defence industries – the USGS...

Breaks - SOUTH AFRICA: LABOUR COURT BLOCKS NATIONAL GOLD-PLATINUM STRIKE

Published: 16 Mar, 2019, Relevance: 1

An attempt by South Africa’s Association of Mineworkers and Construction Union to turn its four-month strike against major Sibanye into a gold and platinum sector-wide stoppage has been blocked by the Labour Court in Johannesburg.
A court ruling on Friday that a secondary strike against companies including Lonmin, Anglo American and AngloGold Ashanti would be unprotected...

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

Published: 16 Mar, 2019, Relevance: 1

Brazilian authorities have ordered the effective shutdown of another of global mining giant Vale's Minas Gerais iron ore mines, this time the Timbopeba mine in the city of Ouro Preto 70km SE of Belo Horizonte, over safety fears for a tailings dam.
The Timbopeba mine, which produces 12.8M tons of iron ore a year, has not previously featured among the operations at risk in the aftermath of the January 25 dam collapse that killed over 300...

Breaks - VALE: NEW DAM ORDER AFFECTS IRON ORE PRODUCTION

Published: 16 Mar, 2019, Relevance: 1

Brazilian mining giant Vale says it has immediately complied with orders to halt operations affecting another of its Minas Gerais iron ore mine tailings dams, despite an official report from National Mining Agency technicians it says verifies the dam is safe.
The order effectively stops 12.8Mt of annual production from the Timbopeba mine, and comes on top of previously announced shutdowns affecting another 11 of its operations in the...

Breaks - KGHM: AUDIT EXPOSES MASSIVE CHILE COPPER LOSSES

Published: 16 Mar, 2019, Relevance: 1

Polish state-owned miner KGHM has been rapped by government auditors over the performance of its 55%-owned Sierra Gorda copper-molybdenum mine and processing plant in Chile’s Antofagasta region.
The Supreme Audit Office estimates the mine, a JV with 45% partner Sumitomo Metal Mining, lost more than PLN19.6B (over $US5B) in the years 2015-18, the Polish Daily newspaper reported.
KGHM acquired Sierra Gorda...

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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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START THE WEEK: COMMODITIES (March 15, 2019)

    START THE WEEK: CALENDAR (March 17, 2019)

      START THE WEEK: COMMODITIES (Mar 8, 2019)

        START THE WEEK: CALENDAR (Mar 11, 2019)

          START THE WEEK: COMMODITIES (Mar 1, 2019)

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