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New miner Orminex is weighing new gold mining and processing opportunities in Western Australia’s Goldfields region after strategic partner Mineral Ventures locked in a deal to acquire the Burbanks gold mill near Coolgardie.
The company aims to conclude commercial processing arrangements with Mineral Ventures – jointly owned by Orminex shareholders Michael Foulds and Ross Graham – once the $A5.2M acquisition is complete...
Police in Delhi have arrested and charged a mining contractor with attempted murder over an attack on Anil Kumar Chaudhary, chairman of the Steel Authority of India.
Police told local media the attack on Chaudhary, initially blamed on a road rage incident, was an organised plot to kill him over a business dispute.
The Hindustan Times reported police alleged contractor Ashok Kumar Singh hired four contract killers after Chaudhary rejected a valuable coal...
Centaurus Metals has completed a $A10M raising to underpin an aggressive exploration/development program at the recently acquired Jaguar Nickel Sulphide Project in Brazil from iron ore major Vale.
The $0.01cps placement was taken up by a number of small-cap institutional investors in Australia and overseas, including clients/affiliates of global assets manager Sprott Group.
Jaguar has a resource of...
The international miner that supplies some 75% of the natural graphite imported by dominant world consumer China has slashed production by about two-thirds following a drastic fall in spot prices and concerns about growing inventories.
The unexpected downturn has come after six months of increasing imports by China to meet the demand from the raw material battery sector.
Syrah Resources announced it would reduce production to about 5,000t per month at its Balama...
The maiden PEA for Integra Resources’ DeLamar Gold-Silver Project, in Idaho, US, envisages an initial 10-year LoM, $C365M ($US277M) capex heap leach operation producing 1.03Moz Au and 16.6Moz Ag for a gold equiv 1.24Moz.
The study ascribes the project an after-tax NPV5% of $472M ($358M) and a 43% after-tax IRR, generating a LoM $697M ($528M) after-tax cumulative cash flow.
The maiden PEA for Integra Resources’ DeLamar Gold-Silver Project, in Idaho, US, envisages a 10-year LoM, $C365M ($US277M) capex heap leach operation producing 1.03Moz Au and 16.6Moz Ag for a gold equiv 1.24Moz.
The study ascribes the project an after-tax NPV5% of $472M ($358M) and 43% after-tax IRR at $US1,350oz Au and $16.90oz Ag, with an after-tax payback period of 2.4 years.
The production scenario is focused primarily on...
Alarm bells are ringing in the natural flake graphite sector after a sudden drop in spot prices in China driven primarily by currency depreciation and concerns over the level of inventory.
Graphite producer Syrah Resources has slashed Dec qtr (Q4) output at its Balama operation in Mozambique to 5,000tpm due to the impact on price negotiations and contract renewals, with potential for further weakening of prices in the...
Maximus Resources has a new $A5.2M buyer for its Burbanks Gold Mill, near Coolgardie in Western Australia, superceding an earlier offer from Perth-based privateer Adaman Resources.
The new deal with Mineral Ventures P/L, is an initial $2.8M to be followed by another $2.4M. Maximus has also secured a minimum 2-years milling capacity at the plant for 5,000tpa from January 2020, with an option to extend....
Matador Mining is eyeing the potential for a 100,000ozpa operation at its 100%-owned Cape Ray gold project in Newfoundland, Canada in a development study launched with the aim of continuing the momentum of its environmental permitting process.
The study will initially target shallow mineralisation hosting an indicated resource of 810,000oz @ 2.6g/t at Cape Ray’s Central Zone.
With the study results due in the March 2020 qtr, the...
NZ coal miner Bathurst Resources has lowered expectations, predicting EBITDA of $NZ78.4M for the year to June 2020 from its $106.6M result in the past 12 months. The FY19 result compared to $93.7M a year earlier.
FY19's growth was built on revenue of $286.9M (FY18: $237.1M) that was boosted by a full 12-months input from its 65%-owned BT Mining assets acquired in Sept 2017.
NPAT rose to $45M ($5.5M) and operating cash-flow to $90.7M ($54.6M).
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