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Newmont maintains steady reserve base as resources grow

By: Henry Lazenby     Updated 3 hours ago NYSE-listed US gold major Newmont Mining has replaced all the gold reserves it unearthed in 2017 and managed to grow its global resource base too, it announced on Wednesday. Gold reserves now total 68.5-million ounces for 2017, unchanged from 2016 as additions and revisions fully replaced... 

Rainbow puts focus on Gakara ramp-up, exploration

By: Simone Liedtke     21st February 2018 London-listed Rainbow Rare Earths has set the ramp-up of production at its Gakara mine, in Burundi, and the completion of the first phase drilling programme, as its priorities for the next six months. The company on Wednesday described the six months ended December 31, as "a busy and highly... 

Alexander Mining forms partnership with Turkish firm

By: Creamer Media Reporter      21st February 2018 Aim-listed mining and mineral processing technology company Alexander Mining has executed a commercial and technical partnership agreement with Turkey’s Proses Mühendislik, Danışmanlık, İnşaat ve Tasarım (Proses), which may result in the use of the company’s proprietary processing technologies... 

Gold, silver miner Hochschild eyes move into copper and zinc

By: Reuters     21st February 2018 Gold and silver miner Hochschild Mining, which has been scouting for early-stage mining projects, is interested in moving into other metals including copper and zinc, the company's chief executive said on Wednesday. Miners around the world have been looking to take advantage of demand for... 

Perseus reports improved financial results

By: Creamer Media Reporter      21st February 2018 West Africa-focused gold miner Perseus Mining has made an operational turnaround, which is reflected in the company’s interim financial performance. Although posting a net loss of $11.5-million, or 1.18c a share, for the December 2017 half year, Perseus reported significantly improved earnings... 

Guptas' Optimum Coal risks suspension as workers protest

By: Bloomberg     21st February 2018 South Africa’s Optimum Coal mine, linked to the politically connected Gupta family, will be suspended if managers fail to comply with the site’s social and labour plan. Workers protested Wednesday over the uncertainty at the operations. The Department of Mineral Resources conducted an inspection... 

BC extends provincial flow-through tax credit for a year; resumes fight against Canadian oil

By: Henry Lazenby     21st February 2018 The British Columbia provincial government has released its Budget 2018 plan, confirming that the provincial flow-through exploration tax incentive will be extended for another year until the end of this year. The mining flow-through share programme is seen as critical to reinforcing the... 

Athabasca exploration juniors reveal voluminous resource increases

By: Henry Lazenby     20th February 2018 Junior explorer Fission Uranium has reported an increase of about 30% in the total compliant indicated and inferred resources at its flagship Triple R deposit, in North-Western Saskatcewan. The Kelowna, British Columbia-based company on Tuesday said the resource estimate for the Triple R deposit... 

After 2017 consolidation, mining to pre-empt future metals demand – EY

By: Schalk Burger     20th February 2018 With stronger balance sheets across the mining and metals sector, miners are increasingly returning to an investment-led strategy, which is driving a renewed focus on building portfolios that deliver sustainable shareholder returns, says multinational consultancy Ernst & Young (EY). The focus... 

Greatland to start exploration programme at Australian project

By: Creamer Media Reporter      20th February 2018 The Western Australian Mines, Industry Regulation and Safety department has approved London-listed Greatland Gold’s programme of work applications for drilling at the Ernst Giles project. The precious and base metals exploration and development company said on Tuesday that its exploration... 

Peel spin-out Saturn's IPO closes early, oversubscribed

By: Creamer Media Reporter      20th February 2018 Perth-headquartered Peel Mining on Tuesday announced that the initial public offering (IPO) for its subsidiary Saturn Metals had closed early with firm commitments leaving the offer oversubscribed. The company said that it had received bids beyond the maximum A$7-million subscription amount.... 

Northern Star boosts exploration spend, unveils 'game changer' discovery

By: Simone Liedtke     20th February 2018 ASX-listed Northern Star Resources has increased its total exploration budget for the 2018 financial year by A$10-million to A$45-million, owing to a series of exploration results showing that the gold producer is set to establish a ten-year life at its 10-million-ounce endowed Jundee gold... 

Sandfire delivers 66% increase in interim net profit

By: Simone Liedtke     20th February 2018 Low-cost production and a rising copper price have driven Sandfire Resources' sales to a record and enabled the ASX-listed miner to increase its dividend and strengthen its balance sheet to fund growth opportunities. High grades and strong operating margins at DeGrussa, combined with Sandfire's... 

Record production at Saracen underpins A$46m interim net profit

By: Simone Liedtke     20th February 2018 Gold miner Saracen Mineral Holdings on Tuesday reported a big jump in half year profit to A$46-million, on the back of record production in the six months ended December 31. This strong performance is said to be a direct result of the investment that Saracen has made in exploration and... 

BHP rewards shareholders, profit jumps 25% on commodity prices

By: Mariaan Webb     20th February 2018 Higher commodity prices have helped the world’s largest diversified mining group to report a 25% increase in its underlying attributable profit and to reward shareholders with higher interim dividends. Melbourne-headquartered BHP grew its underlying attributable profit from $3.24-billion in the... 

Sibanye-Stillwater’s gold, platinum reserves decrease

By: Dylan Slater     19th February 2018 Precious metals producer Sibanye-Stillwater on Monday reported that its South African gold reserves had decreased by 10% year-on-year to 25.74-million ounces as at December 31, while its total platinum, palladium, rhodium and gold, or 4E, platinum group metal mineral reserves had declined by 4%... 

Xtract concludes Manica hard rock collaboration agreement

By: Simone Liedtke     19th February 2018 The board of London-based diversified metals and minerals producer Xtract Resources has concluded a further collaboration agreement with Omnia Mining for the exploitation of the hard rock gold deposits at Xtract's Manica mining concession in Mozambique. This, however, excludes the hard rock gold... 

Orion reveals encouraging results from drilling at Prieska project

By: Simone Liedtke     19th February 2018 ASX- and JSE-listed Orion Minerals on Monday announced further encouraging results from drilling at the company's Prieska zinc/copper project, in the Northern Cape. Drill hole OCOD087_D2, drilled on the south-west margin of the NW Trough Target, intersected 14 m of mineralised massive sulphide... 

Novatek says wins auction for Alrosa's gas assets

By: Reuters     19th February 2018 Novatek, Russia's largest non-State gas producer, said on Monday it had won an auction for Alrosa's two gas assets with a bid of 30.3-billion roubles. Novatek has been actively buying upstream assets in an effort to boost sluggish natural gas output. 

Polymetal ups its stake in undeveloped silver property

By: Mariaan Webb     19th February 2018 LSE-listed Polymetal has entered into an agreement to increase its interest in an undeveloped silver deposit in Sakha, Far Eastern Russia, which the company believes has the potential to be one of the world’s top three primary silver mines in future. Polymetal has entered into a legally binding... 

Emmerson and Evolution restructure Tennant Creek JV

By: Schalk Burger     19th February 2018 Joint venture (JV) partners Emmerson and Evolution Mining have agreed to restructure the Tennant Creek JV gold project, in the Northern Territory, to better align assets with the respective companies. Emmerson MD Rob Bills said on Monday that the company would retain a significant exploration... 

West Wits aims for higher gold production in South Africa

By: Simone Liedtke     19th February 2018 ASX-listed exploration and development company West Wits Mining is in the process of applying for two mining permits, which should enable the company to significantly increase gold production from its Witwatersrand Basin project (WBP) in the fourth-quarter of the calendar year. The company... 

Bluebird to inject new life into old South Korean gold veins

By: Reuters     19th February 2018 Asia-focused mine developer Bluebird Ventures, with venture partner Southern Gold, plans to reopen South Korean gold mines closed decades ago and is aiming for profits of around $100/t, Bluebird's CEO said. The mines closed in the late 1960s and 1970s when the gold price was less than $140/oz,... 

Black Mountain to sell Uganda mine as part of strategic restructuring

By: Simone Liedtke     19th February 2018 Vermiculite miner Black Mountain Resources on Monday updated shareholders on restructure initiatives that have been agreed to by the company and its major lender Richmond Partners Masters. These initiatives, which are subject to shareholder approvals, formal documentation and regulatory sign off,... 

Millennium goes underground at Nullagine, awards Bartons contract

By: Simone Liedtke     19th February 2018 Gold miner Millennium Minerals has awarded its first-ever underground mining contract at the Nullagine operation, in Western Australia, naming GBF Underground Mining Company as the contractor for the new Bartons underground mine development. The underground development will access high-grade,... 

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      19th February 2018 Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

Mincor starts preproduction activities at WA gold project

By: Simone Liedtke     19th February 2018 The board of ASX-listed Mincor Resources has approved preproduction activities at its Widgiemooltha gold project (WGP), in Western Australia. The start of the preproduction activities will ensure that the company remains on track to be able to progress to full-scale mining operations at... 

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

US seeks to boost output of 35 minerals, reduce import reliance

By: Reuters     17th February 2018 The United States should boost domestic production of 35 critical minerals including uranium, cobalt and lithium, to reduce its reliance on foreign suppliers, the Interior Department said on Friday. Aluminium and potash are also on the draft list of 35 critical materials used in basic... 

Yanfolila ramp-up on track - Hummingbird

By: Simone Liedtke     16th February 2018 Since first gold was poured at Aim-listed Hummingbird Resources' Yanfolila gold mine, in Mali, on December 19, the mine has steadily been ramping up towards full production, in line with the company's planned schedule. "I am pleased that activity on site is steadily progressing as per the ramp-up... 

Latin Resources secures lithium projects in San Luis, Argentina

By: Simone Liedtke     16th February 2018 ASX-listed mineral exploration company Latin Resources has secured 100% ownership of Condor lithium concessions in San Luis, Argentina, through the signing of a terms sheet with Kontrarian Resources Fund No 1. The concessions are in the vicinity of historic lithium mines. Smaller scale pegmatite... 

Beowulf is back drilling at Aitolampi, Finland

By: Creamer Media Reporter      16th February 2018 Aim-listed Beowulf has started drilling at its Aitolampi graphite project, which forms part of the Pitkäjärvi 1 exploration permit in Finland. The company has plans to drill about 2 000 m, up to 15 drill holes, with the drilling programme split into two phases. The drilling contract has been... 

Birimian settles tax issues through full disclosure

By: Schalk Burger     16th February 2018 ASX-listed lithium and gold exploration company Birimian has settled with the Australian Tax Office (ATO), which waived all penalties in relation to tax obligations after the Mali-focused company made voluntary disclosures of all its financial statements since August. The penalties were in... 

Sweden hunts for cobalt as electrical vehicle race boosts demand

By: Bloomberg     16th February 2018 Sweden will step up efforts to find precious minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles. The government will invest 10-million kronor ($1.26-million) over the next two years to map the existence of minerals... 

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

BHP Billiton expects drilling of first new Trion well to begin in October

By: Reuters     16th February 2018 Drilling of the first new exploration well in BHP Billiton's deepwater Trion project will begin in October, part of a plan approved by Mexican regulators on Thursday that also revised downward the project's estimated oil and gas resources. Australian mining and oil giant BHP Billiton won the... 

Tahoe lifts global gold reserves by 400 000 oz

By: Henry Lazenby     16th February 2018 Canadian precious metals miner Tahoe Resources has increased its global gold reserve base by about 12% or 399 000 oz in 2017, to about 3.7-million ounces of yellow metal, the company announced on Thursday. Vancouver-based Tahoe advised that, in 2017, it added 888 000 oz of new gold mineral... 

Nautilus completes production tools sea trials in PNG

By: Henry Lazenby     16th February 2018 Marine mining pioneer Nautilus Minerals has successfully completed submerged trials for its seafloor production tools (SPTs), in Papua New Guinea. "The overarching objective of the trials was to ensure that all three machines met the requirements of their respective functional design... 

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