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Mining News

Bunker Hill lease terminated

By: Creamer Media Reporter Updated 57 minutes ago Toronto-headquartered Bunker Hill Mining on Monday confirmed that the lease with option to purchase agreement for the Bunker Hill mine had been terminated, owing to a missed property payment. The CSE-listed company warned earlier this month that it was in default of its lease agreement with... →

Galileo hits high zinc mineralisation in Phase 2 drilling programme

By: Marleny Arnoldi Updated 3 hours ago Aim-listed Galileo Resources has completed its Phase 2 diamond drilling programme and reported positive assay results so far for the first eight holes analysed, at its 80.75%-owned Star Zinc project, in Zambia. Phase 2 comprised 24 holes totalling about 1 000 m to depths, from surface, of... →

Polymetal obtains controlling stake in noncore Veduga

By: Creamer Media Reporter Updated 3 hours ago Gold miner Polymetal International has obtained a controlling interest in the Veduga deposit in Russia’s Northern Yenisey belt, opening the door for “multiple strategic options” for the noncore asset. The miner has agreed to increase its stake in the Veduga deposit to 74.3% through the... →

Consultants confirm at least 1Moz potential at Cora Gold’s Mali prospect

By: Marleny Arnoldi Updated 3 hours ago A report compiled by SRK Consulting has confirmed that gold explorer Cora Gold’s Sanankoro project, in Mali, has the potential to delineate between one-million and two-million ounces of gold to a depth of 100 m, also indicating the potential for significant further upside at depth. SRK derived an... →

Orion expects updated Prieska resource estimate by mid-December, BFS by Q2 2019

By: Marleny Arnoldi Updated 3 hours ago ASX- and JSE-listed Orion Minerals will publish an updated resource estimate for its Prieska zinc/copper project, in the Areachap Belt in South Africa’s Northern Cape province, in mid-December, which will underpin a bankable feasibility study (BFS) that is set for completion in the second quarter... →

Cradle Arc’s Thakadu mining licence extended to May 2020

By: Marleny Arnoldi Updated 3 hours ago Aim-listed copper and gold miner Cradle Arc has been granted an extension on its mining licence by the Botswana Ministry of Mineral Resources, Green Technology and Energy Security. The licence is now valid until May 31, 2020, and covers 28.5 km2, which includes the Thakadu openpit and adjacent... →

Premier to initiate legal action should RHA restructure not finalise by end-October

By: Marleny Arnoldi Updated 3 hours ago Aim-listed Premier African Minerals CEO George Roach confirmed on Monday that the company would consider other legal processes to secure the remaining equity in the RHA tungsten mine, in which the company holds a 49% interest, should the equity restructuring process not be complete by the end of... →

Berkeley to reduce costs citing uncertainty over key licence

By: Mariaan Webb Updated 4 hours ago Despite reporting “strong and growing support” for the Salamanca uranium project in Spain, Australian mining firm Berkeley Energia on Monday reported that it was unlikely to imminently receive a key permit that would allow for construction to start. As a result, the triple-listed uranium project... →

Australia's Atlas Iron names ex-Hancock executive CEO in board overhaul

By: Reuters Updated 4 hours ago Australian Atlas Iron on Monday named Sanjiv Manchanda as chief executive in a board overhaul, replacing Cliff Lawrenson amid an acquisition by billionaire Gina Rinehart's Hancock Prospecting. Manchanda has earlier served as Head of Project Development for Hancock Prospecting. →

NAIF takes a closer look at Sconi

By: Esmarie Iannucci Updated 4 hours ago The Sconi cobalt/nickel/scandium project, in Queensland, will come under the microscope after the Northern Australia Infrastructure Facility (NAIF) board indicated it would move to investigate the potential to provide support for the project. The NAIF provides access for up to A$5-billion of... →

Arafura finds possible buyer for Nolans product

By: Esmarie Iannucci Updated 4 hours ago ASX-listed rare earths developer Arafura Resources has signed a memorandum of understanding (MoU) with magnet producer JingCi Material Science Co to supply neodymium-praseodymium (NdPr) from the Nolans project, in the Northern Territory. The MoU envisaged the long-term supply of up to 900 t/y... →

Kazatomprom may sell 25% stake in London/Astana float

By: Reuters Updated 4 hours ago Kazakhstan's Kazatomprom, the world's biggest uranium producer, said it plans to float up to a 25% stake in an initial public offering (IPO) in London and Astana, but did not confirm whether the listing was still on track for this year. The global market for IPOs has been hit by recent turmoil... →

Azure has received strong interest in Mexico zinc project

By: Esmarie Iannucci Updated 4 hours ago The Oposura zinc/lead/silver project, in Mexico, would cost some A$69.9-million to develop, a scoping study has revealed. ASX-listed Azure Minerals on Monday revealed that the project could produce 19 000 t/y of zinc, 10 000 t/y of lead and 145 000 oz/y of silver, over an initial mine life of... →

Stonewall reveals South Africa gold project numbers

By: Esmarie Iannucci Updated 4 hours ago A scoping study into the Theta Hill opencut gold project, in South Africa, has shown that the project could support a production of 67 000 oz/y over a near eight-year mine life. ASX-listed Stonewall Resources said that the scoping study was based on a Joint Ore Reserves Committee compliant... →

Orosur loss widens on restructuring costs

By: Creamer Media Reporter Updated 4 hours ago South America-focused Orosur Mining posted a pre-tax loss of $6.1-million in the quarter ended September 30, a significant increase from a year earlier loss of $384 000, as restructuring costs ballooned following the closure of the company’s Uruguay operations. Orosur has been restructuring the... →

Highfield ups capital cost estimate for Spain potash project

By: Esmarie Iannucci Updated 4 hours ago An optimised feasibility study into the Muga potash project, in Spain, has increased the project capital cost requirements, ASX-listed Highfield Resources reported on Monday. A 2015 definitive feasibility study estimated a capital investment of $256-million would be required to deliver... →

Thiess wins A$1.2bn mining contract

By: Esmarie Iannucci Updated 4 hours ago Mining major BHP has awarded project house Cimic’s global mining services provider, Thiess, with a A$1.2-billion contract at the Mt Arthur coal operation, in the Hunter Valley. The new five-year contract builds on Thiess’ existing agreement, and expands the scope of the contract to include... →

Northern Minerals secures A$27m from Browns plant

By: Esmarie Iannucci Updated 5 hours ago Heavy rare earths producer Northern Minerals has secured a further A$27-million in funding to progress the development of the Browns Range pilot plant, in Western Australia, and to accelerate enhancement initiatives at the project. The company has entered into a subscription agreement with NRE... →

Mining at Gruyere to start in November

By: Esmarie Iannucci Updated 5 hours ago The Gruyere gold project, in Western Australia, remains on schedule to produce its first gold in the June quarter of next year. Joint venture (JV) partners Gold Road Resources and Gold Fields on Monday revealed that the overall project engineering was about 96% complete at the end of the... →

Glencore’s Hail Creek restructuring hits 400 jobs

By: Esmarie Iannucci Updated 5 hours ago Diversified miner Glencore has announced plans to ‘reconfigure’ its Hail Creek coal mine, in Queensland, resulting in nearly 400 job losses. The miner announced that the two-dragline operation would be reconfigured into a truck-and-shovel mine, with a seven-day on, seven-day off roster. The... →

Evolution’s quarterly gold output dips, costs rise

By: Esmarie Iannucci Updated 5 hours ago Gold miner Evolution Mining has reported another solid quarter, producing 200 218 oz during the three months to September. The September quarterly production was slightly below the 202 254 oz produced in the June quarter. →

Osisko’s acquisition of Beaufield to close by end of the week

By: Creamer Media Reporter Updated 5 hours ago The takeover of Beaufield Resources by Osisko Mining is likely to close on Friday, following last week’s shareholder approval, in which 98% of shareholders present at a meeting voted in favour of the transaction. The completion of the arrangement, announced in August, remains subject to the... →

Centerra sells Mongolia mine and project for $35m

By: Mariaan Webb Updated 6 hours ago Canada-based Centerra Gold has sold its Mongolian business unit to private equity firm OZD Asia for $35-million, in a move that CEO Scott Perry describes as a portfolio enhancement. The company’s Mongolia assets include the Boroo mine and processing plant, as well as the Gatsuurt project. →

Chile environmental court orders Barrick to close Pascua-Lama gold mine

By: Reuters Updated 6 hours ago Chile's environmental court on Friday ordered Canada's Barrick Gold to definitively close the Chilean side of its stalled Pascua-Lama mining project, a final procedural step that draws a line under a long-running saga. The court, sitting in the northern Chilean city of Antofagasta, approved by... →

B2Gold delivers record Q3 production despite production shortfalls in Nicaragua

By: Marleny Arnoldi 12th October 2018 Canadian miner B2Gold had record-consolidated gold production of 242 040 oz in the third quarter – a 78% increase on the 106 412 oz produced in the third quarter of 2017. Fekola mine, in Mali; Masbate mine, in the Philippines; and Otjikoto mine, in Namibia, were the strongest contributors to... →

Exxaro looks to fill Eskom coal shortage

By: Reuters 12th October 2018 Exxaro Resources said on Friday it was looking to supply coal to state-owned power utility Eskom, which has been hit by supply shortages, posing a threat to the power supply in Africa's most industrialised economy. Eskom, which has fewer than 20 days of coal supply at 10 of its power stations,... →

Desert Lion announces maiden mineral resource estimate for Namibian project

By: Simone Liedtke 12th October 2018 TSX-V-listed Desert Lion Energy has completed a maiden mineral resource estimate for its Namibian lithium project, the company announced on Friday. The maiden mineral resource estimate comprised the Rubicon, Rubicon Slimes, Helikon 1, Helikon 2, Helikon 3, Helikon 4 and Helikon 5 deposits, and... →

Thabazimbi mine transfer to AMSA finalised

By: Simone Liedtke 12th October 2018 The transfer of ownership of the Thabazimbi iron-ore mine, from Kumba Iron Ore to steel producer ArcelorMittal South Africa (AMSA) has been finalised, Kumba said on Friday. Kumba in early 2017 agreed to transfer the mine, in Limpopo, to AMSA, for R1, plus the assumed liabilities. →

Equinox Gold raises $75m for Mesquite acquisition

By: Creamer Media Reporter 12th October 2018 Canadian firm Equinox Gold has raised $75-million through private placements to fund part of its acquisition of the Mesquite gold mine, in California. The company is buying the 135 000 oz/y mine from New Gold for $158-million. →

Atalaya evaluating strategic options

By: Mariaan Webb 12th October 2018 Copper miner Atalaya Mining is undertaking a review to evaluate its strategic options, the dual-listed miner confirmed on Friday, sending its shares in London up 15%. Atalaya, which owns the Proyecto Riotinto mine and Proyecto Touro development project in Spain, confirmed the strategic review in... →

Atalaya owns the Proyecto Riotinto mine in Spain.

Chilean court freezes sale of stake in lithium giant SQM to Tianqi

By: Reuters 12th October 2018 SANTIAGO – A Chilean court on Thursday suspended the sale of a coveted stake in lithium producer SQM to China's Tianqi Lithium, saying it will consider a lawsuit filed by the Chilean company's controlling shareholders, who oppose the deal. The lawsuit, filed on Wednesday, alleges a previous... →

Court says Colombia votes cannot block mining, oil projects

By: Reuters 12th October 2018 Colombia's constitutional court on Thursday ruled that local referendums that ban mining and oil extraction cannot halt energy projects, after a raft of votes spooked multinational companies. A wave of environmentally focused anti-mining referendums over the past 18 months have worried... →

Euro Manganese lists in Frankfurt

By: Creamer Media Reporter 12th October 2018 Canadian explorer Euro Manganese (EMN) has listed on the Frankfurt Stock Exchange, in response to growing interest from European investors. The Canadian company, which owns the Chvaletice manganese project in the Czech Republic, also appointed Deutsche Gesellschaft für Wertpapieranalyse as its... →

Rusoro accepts Venezuela settlement proposal

By: Mariaan Webb 12th October 2018 Mining junior Rusoro, which has won a major victory in its international arbitration complaint against Venezuela, has agreed on the terms of a settlement proposal with the South American nation’s government. Rusoro said that Venezuela would pay more than $1.28-billion to acquire the company’s... →

Copper Mountain production in line with expectations

By: Creamer Media Reporter 12th October 2018 The Copper Mountain mine, in southern British Columbia, performed in line with expectations in the quarter ended September 30, producing 18.3-million pounds of copper 7 500 oz of gold and 64 900 oz of silver. The company has guided that the third-quarter copper production would be 10% lower than... →

TomaGold creates executive chair position

By: Creamer Media Reporter 12th October 2018 Canadian explorer TomaGold, which is in joint ventures with Iamgold and Goldcorp, has created a new role of executive chairperson and appointed Robert Rosner to the position. Rosner will be primarily responsible for overseeing, promoting and facilitating the company’s strategic plans and... →

Golden Arrow branches out into Chile

By: Creamer Media Reporter 12th October 2018 TSX-V-listed Golden Arrow is expanding into Chile with the acquisition of the 3 450 ha advanced Atlantida copper/gold project. Atlantida combines mineral rights from two separate owners and includes an extensively drilled copper/gold deposit with an historic resource estimate. By consolidating... →

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