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It’s taken slightly longer than expected, but South African diamond miner BlueRock is preparing to move to continuous working at its Kareevlei mine in the Kimberley region after gaining permits for 365-day operations.
The delay is not expected to stop it reaching the top end of its March qtr (Q1) production guidance of 35,000-45,000t.
CEO Adam Waugh says the change is a significant step in UK-based BlueRock’s drive to increase production volumes...
The value of the contract dispute between Australian miner Heron Resources and EPC contractor Sedgman has risen to over $A50M following the rejection of revised progress claim on the construction of the Woodlawn copper-zinc mine plant in NSW.
After previously rejecting a $49.9M additional costs claim on its fixed price $109M contract, Heron says Sedgman’s revised submission takes the total in dispute to $53M.
Apart...
Kingsrose Mining credits the sale of 5,874oz project development gold from its 2 southern Sumatra operations in Indonesia for restricting its loss to $A5.4M for the Dec half (H1FY19), down from its $3.16M NPAT a year earlier.
The result comes after significant investment in pre-production works at the Talang Santo and Way Linggo mines and enabled Kingsrose to end with cash, bullion and receivables of $8.4M, from $9.65M at H1FY18.
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Major mine operational issues and $US39.7M of non-cash write downs on several of the company’s non-core assets, has seen Mandalay Resources’ Dec 2018 year (FY/CY18) net loss blow out to $US63.7M from 2017’s $42.7M loss.
The issues included underground trucking problems at the Björkdal Gold Mine in Sweden and the delayed start-up of the Brunswick on-vein development at Costerfield, Victoria, Australia, that cut revenue...
Major mine operational issues and $US39.7M of non-cash write downs on several of the company’s non-core assets, has seen Mandalay Resources’ Dec 2018 year (FY/CY18) net loss blow out to $US63.7M from 2017’s $42.7M loss.
The issues included underground trucking problems at the Björkdal mine in Sweden and the delayed start-up of the Brunswick on-vein development at Costerfield, Victoria, Australia, that cut revenue to $112.2M from $162.9M...
Australian explorer Laneway Resources has confirmed it’s expecting mining to commence in early April for its 100%-owned Agate Creek gold project in Qld after the region’s rainstorms in Feb delayed progress.
The mining fleet is due for mobilisation to site within 2 weeks and road repairs on the route to Maroon Gold’s 340,000tpa Black Jack CIL plant at Charters Towers are nearing completion.
With $A gold prices at a...
Partners Merdeka Copper Gold (66.7%) and Lion Selection Group (33.3%) have reached another milestone at their Pani JV gold project in Sulawesi with the award of a key processing and refining tenement close to their mining permit.
Lion says the Indonesian govt approval covers sites for dumps, leach pads, recovery and operations infrastructure for the 2.37Moz (89.5Mt @ 0.82g/t) gold resource.
The JV is continuing key...
Well-publicised issues with the transition to owner-operation at its Uitkomst thermal and metallurgical mine in KwaZulu Natal have lowered South African miner MC Mining’s ROM coal production to 237,715t for the 6 months to Dec 2018 (H1FY19), from 265,699t a year earlier.
Coal sales fell to 163,487t (H1FY18: 308,275t), comprising 157,452t ROM coal and 6,035t third party purchases.
Favourable coal prices assisted Uitkomst generate...
MC Mining is aiming for a Sept qtr construction start on the first phase of its 69%-owned Makhado hard coking and thermal coal project in South Africa’s Limpopo province.
After a 12-month delay due to land access issues, Australian-based MC has adopted a phased development approach starting with the mining of 3Mtpa ROM coal from Makhado's west pit for processing at the modified Vele processing plant to deliver saleable product of 0....
A company described “transformational year” with gold production from its 2 West African operations up 179% has only managed to cut Avesoro Resources’ Dec 2018 year (FY/CY18) after tax loss to $US26.86M from 2017’s $27.4M loss.
Gross profit jumped to $22.97M from a $7.95M loss on revenues up 189% to $282.8M, driven by gold sales up 186% to 220,998oz at an average realised price 1% better to $1,275oz. The result saw EBITDA jump 348% to $77.5M and cash...