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 production.
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 response to media speculation that the Trafigura-backed copper producer is looking for a buyer.
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 anti-trust court decision did not give shareholders adequate time to review the agreement between Tianqi and regulators, allowing the Chinese miner to purchase a 24% stake in the world's No. 2 producer of lithium... Читать дальше...
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 investors, and forced some to alter investment plans, like AngloGold Ashanti which suspended a potential $2-billion project last year.
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 mining data and for full release of the arbitral award issued in favour the miner in August 2016.
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 the second quarter, owing to lower copper grades being mined. Actual production was 8.5% lower than the second quarter, TSX- and ASX-listed Copper Mountain Mining reported on Thursday.
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 the land package, Golden Arrow believes there is potential to identify new mineralisation and define a significant copper/gold resource.
Latin American miner Fortuna Silver has reported improved third-quarter silver and gold output and is on schedule to meet its production guidance for the year, the NYSE- and TSX-listed company reported on Thursday. Compared with the third quarter of 2017, Fortuna’s silver production increased by 11% to 2.23-million ounces and gold production increased by 6% to 12 542 oz, while lead output dipped 1% to 7.56-mmillion pounds and zinc output ticked up by 2% to 11.48-million pounds.
Diversified miner Rio Tinto has warned of a $178-million impact on its financials during the first half of 2018, due to its legacy alumina contracts. The miner supplies some 2.2-million tonnes of alumina under legacy contracts, which are priced at a percentage of the benchmark aluminium price.
oal junior TerraCom on Friday revealed the potential to expand production at its Baruun Noyon Uul (BNU) coking coal mine, in Mongolia, to three-million tonnes a year. TerraCom told shareholders that following an extensive exploration programme, the company has compiled a detailed execution plan which is forecast to deliver targeted annual production of three-million tonnes a year from BNU.
Gold miner Troy Resources has reported a slight drop in gold production during the three months to September, compared with the previous quarter. During the three months under review, Troy produced 18 991 oz of gold from its Karouni operation, in Guyana, compared with the 19 510 oz produced in the June quarter.
US coal producer Peabody has issued force majeure notices to coal customers and certain of its vendors at the North Goonyella mine, in Queensland, as the company continues to work to extinguish a fire. The US miner at the start of last week started implementing a multi-tiered plan to extinguish and contain a fire at the mine, after personnel observed black smoke coming from the mine, and elevated gas levels were detected.
Gold may have finally snapped out of its inertia. On Thursday, prices posted the biggest gain since June 2016, when the UK voted to exit the European Union, after a slump in global equity markets stoked demand for the metal as a store of value. Bullion received another shot in the arm after data showing weaker-than-expected US inflation raised speculation that the Federal Reserve may slow the pace of interest rate increases.
Miners in the Democratic Republic of Congo are seeking concessions under the nation’s new industry code and holding off challenging it through arbitration, in the hope they can still wring out a compromise in the world’s main source of cobalt and Africa’s biggest copper producer. Producers including Glencore and Randgold Resources have opposed the new code that raised royalties, introduced taxes and canceled a clause that would have protected them against fiscal changes for ten years. While arbitration is still an option... Читать дальше...
Drive and automation specialist SEW-EURODRIVE South Africa has been working to establish itself as a full solutions provider for the mining industry for the past five years, says national sales and marketing manager Norman Maleka. “When the name SEW is mentioned in mining circles, one of the first things people think of is gear boxes.”
Spain-based inverter manufacturer Ingeteam highlights that its Ingedrive low- and medium-voltage, variable-speed drives (VSDs) provide compact, customisable and powerful drive system solutions for the African mining industry. Ingeteam converters and automation division commercial sales manager Per Thorn tells Mining Weekly that the company’s Ingedrive systems have been developed as specialised solutions for high-powered applications, “making them ideal for strenuous mine operations”.
Motors and controls manufacturer WEG subsidiary Zest WEG Group has launched the first phase of its WEG Motor Scan solution – a motor performance monitoring solution for electric motors. Speaking to Mining Weekly at the official product launch, held at the Electra Mining Africa exhibition last month, Zest WEG Group electric division rotating machines manager Fanie Steyn said that Phase I of the solution will facilitate the monitoring of electric motor installations and optimise access to critical information regarding motor performance.
Australian development company Ore Corp received approval from the Tanzanian Fair Competition Commission (FCC) to increase its interest in the Nyanzaga Mining Company Limited (NMCL) to 51%. However, the move remains subject to the approval of the newly established Mining Commission. The application for approval from the Mining Commission was lodged at the same time as the application was lodged at the FCC. The move is also dependent on the payment of $3-million to global investment company Acacia Group.
Early this month, London AIM-listed exploration and development group URU Metals released its final results for the 2017/2018 financial year (which ended on March 31 this year). During that year the company’s activities were focused on the exploration and development of its mineral properties in South Africa, particularly the Zebediela Nickel project. (Its other, less advanced, South African project is Burgersfort Nickel.)