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Unexpected problems in Australia and Chile keep H1 19 prodn/revenue flat and the underlying profit 8% lower to $3.73B, with FY18 expectations for more of the same. By Mark Mentiplay
Chinese coal traders are looking for other sources as just Australian shipments are being mysteriously held up by customs
All systems go as Pretium Resources posts 1st full-year 370,000oz+ gold, $200M cash flow and a $36.6M net profit. By MBM’s North American correspondent
Asanko Gold and its namesake Ghana gold mine J/V both suffer heavy FY18 losses
Lower production, higher costs and impairments have combined to push Kinross Gold from a 2017 $445M profit to a $23.6M 2018 loss
Newcrest Mining adopts a new openpit/underground development scenario for Fiji’s giant Namosi Waisoi copper and gold project after concluding its previous openpit proposals would not generate acceptable returns.
Having completed its $5.4B merger with Randgold last month, Barrick Gold has ushered in a new era with substantially lower gold-copper production and a $1.54B loss. By MBM’s North American correspondent
Teck Resources has overcome some Q4 18 losses in its energy/zinc-lead operations to produce a record $3.1B profit for FY18
Non-cash items and lower gold production have combined to cut Aussie miner Evolution Mining’s H1 19 profit 31.5% to $91.1M
Harmony Gold’s investment strategy pays off with the inclusion of Moab Khotsong in South Africa and Hidden Valley in PNG boosting its production and cash flow in the first half of 2019.
New mine design/updated DFS boosts EganStreet’s Rothsay production, revenues and cash flow expectations
An Oct, 2018, internal report shows global iron ore leader Vale knew the dam in Brazil that collapsed killing around 165 people was at risk of rupturing
Big Russian gold-silver miner Polymetal OKs immediate construction start for its POX-2 Gold Project, targeting 1st production Q3 2023 for 9.3Moz over 23-years.
Arafura Resources DFS outlines a robust case for its Nolans rare earths project in Australia’s NT to be the next potential scale producer of NdPr oxide to the clean energy market as China’s supply dominance fades.
Hot Chili has identified the potential to develop a top-30 global copper mine at low altitude in Chile’s coastal range by combining its large-scale Productora project with the nearby Cortadera copper-gold discovery.
It’s been a good year for global miner/commodity trader Glencore with only oil letting it down
Teck Resources has warned of a big reversal of fortunes in Q4 18, fuelled by a $92M loss for its energy business and another $23M loss for its Trail zinc-lead operation
Kyzl kicks in with 1st major production to lift Polymetal Int’l to a record 1.56Moz AuEq in FY18
SolGold may have triggered a bidding war for Cornerstone Capital Resources’ and its stake in the big Cascabel Cu-Au project from major SolGold shareholders BHP and Newcrest. By Mark Mentiplay
The start of mining at Kingsrose Mining’s 2nd Way Linggo pit in Sumatra set to pave the company’s road ahead with Q2 19 project output up to 3,556oz
(CONTRACTING) Australian miner Heron Resources says a claim by CIMIC Group contractor Sedgman for $50M in additional costs on top of a $109M processing and infrastructure contract at its Woodlawn copper-zinc project seeks to circumvent the principles of their guaranteed maximum price contract.
(LITIGATION) Australian-based Prairie Mining has signalled it will take the Polish government to international arbitration if it can’t reach an amicable resolution over development of its Jan Karski and Debiensko coal projects.
(SAFETY) 500 residents evacuated after alarm over stability of tailing storage dam at a third Vale iron ore mine in Minas Gerais
(LITIGATION) The appointment of New York-based lawyers to advise on its investigations and responses to the the January 25 disaster that has cost over 300 lives illustrates Vale is preparing for a long and difficult legal battle over the Feijão iron ore mine collapse.
(CORPORATE STRATEGY) Major Australian report calls on mining companies to broaden their strategic outlooks as they face an ever-changing and increasingly disruptive market.
(COMMENTARY) Coming just over three years after the Samarco tragedy, the even greater disaster emerging at its Feijão iron ore mine is set to create a reputational crisis for Brazilian mining giant Vale.
