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Australian-based construction, mining, engineering, operation and maintenance services company CIMIC Group has confirmed it is in advanced talks to sell 50% of its mining services business, Thiess, to an affiliate of activist hedge fund Elliott Management, Reuters reports.
The exclusive talks with Elliot, backed by billionaire Paul Singer, are expected to conclude in “coming weeks.” the company said. No value has been put on...
West Australian explorer Classic Minerals is a step closer to starting on-site processing at its Kat Gap gold project 120km SE of Southern Cross with delivery of a Gekko gravity concentration processing plant due next month.
The modular plant has 30tph capacity and is scalable to 250tph, giving flexibility for Classic to increase throughput based on resource definition, metallurgical testing and exploration data.
Classic says the...
South Africa’s Kumba Iron Ore expects to begin pit establishment and waste stripping this year after giving the go-ahead for the R7B development of the new Kapstevel South pit and associated infrastructure at its Kolomela mine near Postmasburg in Northern Cape province.
The Anglo American unit expects first high-quality direct shipping ore production in 2024 from the conventional truck and shovel operation, which will contribute significantly to...
Australian explorer Malachite Resources will sell its 55% stake in the Lorena gold project near Cloncurry in NW Qld under a commercial agreement to resolve its long-running dispute with its privateer JV partners Lorena Gold Mine and Ore Processing Services.
In addition to the $A180,000 consideration, Malachite will gain a 2% net smelter return on future underground gold production at Lorena.
The...
West Australian explorer Redstone Resources is targeting the potential for short to medium-term revenue after reaching agreement for a majority interest in a gold tailings reprocessing project on the historic Hannans South mill site 15km S of Kalgoorlie.
Redstone will issue 4M shares and spend $A150,000 to earn up to 80% of the privately owned HanTails project, containing about 6.3Mcum of primary, oxide and transitional ores from...
South Australian explorer Rex Minerals is confident it has established a pathway to development with state government approval of its environment protection and rehabilitation plan for its 100%-owned Hillside copper-gold project on the Yorke Peninsula.
MD Richard Laufmann says Rex has appointed advisor Grant Samuel to seek expressions of interest for funding the 2Mt copper and 1.4Moz gold project, one of Australia’s largest undeveloped...
The discovery by Rio Tinto of an additional zone of gold-dominant mineralisation just 2km away from newly announced maiden resource at the Winu copper-gold project has encouraged hopes for the large-scale development of multiple orebodies in the Paterson province exploration “hot zone” in Western Australia.
But, as a first step, Rio Tinto is eyeing a smaller initial development that focuses initially on a higher-grade...
The long-awaited disclosure of a maiden resource at Rio Tinto’s 100%-owned Winu copper-gold project has been accompanied by the discovery of a new zone of gold-dominant mineralisation just 2km away in Western Australia’s Paterson Province.
Rio posted an inferred resource of 503Mt @ 0.45% copper equivalent (cutoff 0.2% CuEq), including a higher-grade component of 188Mt @ 0.68% CuEq (cutoff 0.45% CuEq), in a potential relatively shallow...
Continued market uncertainty due to COVID-19 impacts has seen further declines in production by Australian-based international mineral sands miner Iluka Resources, lowering June qtr (Q2) output to 42,100t zircon (Q1: 50,100t), 34,800t rutile (49,300t) and 58,300t synthetic rutile (53,200t). Ilmenite production was 106,7800t (108,900t).
Despite improved performance in June, rutile production at its Sierra Leone...
Kenyan mineral sands producer Base Resources is facing a 5% reduction in mined volumes in the coming year as well as a 22% decline in mineral resources for the South Dune deposit at its 100%-owned Kwale project.
Australian-based Base achieved revised Kwale production targets in the June year (FY20) after mining transitioned to the South Dune from the depleted Central Dune in mid-2019.
FY20 production totalled 78,920t rutile, 355,093t ilmenite and...