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BASE METALS

Freeport-McMoRan stock on the up despite 21% Q1 profit drop

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Grasberg, Indonesia. Despite reporting a 21% drop in first-quarter earnings, base metals miner Freeport-McMoRan’s NYSE-listed stock was on Thursday rising after it beat analyst expectations. For the three months ended March 31, the Phoenix, Arizona-based miner...
24th April 2014
 
 
IRON-ORE

Record shipments for Atlas despite Pilbara weather disruptions

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Iron-ore miner Atlas Iron on Thursday reported record shipments during the three months to March, despite weather disruptions in the Pilbara. MD Ken Brinsden said on a conference call that the company, which owns projects in Western Australia,...
24th April 2014
 
 
COAL

Whitehaven lowers output expectations

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New South Wales-focused Whitehaven Coal on Thursday downgraded its full-year production target, following operational issues at its Narrabri mine and geotechnical challenges at the Rocglen operation. Whitehaven was now expected to produce between...
24th April 2014
 
 
IRON-ORE

Sphere to build $900m iron-ore mine in Mauritania

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The board of junior Sphere Minerals on Thursday approved the $900-million development of the Askaf North iron-ore project, in Mauritania. The board approval followed a confirmation of key fiscal terms by the Mauritanian government, and the...
24th April 2014
 
 
PORT PROJECT

Native Title Agreement provides certainty to 350 Mt/y Anketell port project

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The Western Australian government this week reached a Native Title Agreement over the proposed site for the Anketell multi-user port facility. The state government was planning a multi-user deep-water port with an ultimate capacity of at least...
24th April 2014
 
 
URANIUM

Berkeley gets mining licence in Spain

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ASX-listed junior Berkeley Resources has been granted a mining licence over its Retortillo deposit, which forms part of the flagship Salamanca uranium project, in Spain The company said on Thursday that the grant of a mining licence was a major...
24th April 2014
 
 
CAPITAL RAISING

RNI raises cash for Grosvenor exploration

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ASX-listed Resource and Investment (RNI) will raise up to A$6.22-million in a share placement and share purchase plan (SPP), the company announced on Thursday. RNI would issue about 13-million fully paid shares to sophisticated investors, at an...
24th April 2014
 
 
GOLD

Beadell production steady despite heavy weather

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Gold miner Beadell Resources has reported only a slight increase in gold production during the three months to March, but saw a spike in sales, compared with the previous corresponding period. In the period under review, Beadell produced 32 507...
24th April 2014
 
 
GOLD

Barrick-Newmont tie-up could create new top flight Australia gold producer

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Australia could spawn a new mega gold producer if Barrick Gold Corp and Newmont Mining Corp spin off their Asia-Pacific assets, heating up competition with the country's underperforming market leader Newcrest Mining Ltd. Barrick and Newmont have...
23rd April 2014
 
 
COPPER/GOLD

Sumatra to restart Tembang work by mid-2014

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An updated definitive feasibility study (DFS) for ASX-listed Sumatra Copper & Gold’s flagship Tembang project, has increased forecast gold production. The updated DFS forecast a total production of 168 794 oz of gold and about 1.8-million...
23rd April 2014
 
 
NICKEL

Mincor ups full-year expectations

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Nickel miner Mincor on Wednesday told shareholders that it expected to exceed its production forecast for the full year, after another strong quarter of production. During the three months to March, Mincor produced 2 203 to of nickel-in-ore,...
23rd April 2014
 
 
MINING FINANCE

Padbury reveals name of mysterious benefactor

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ASX-listed Padbury Mining has revealed the source of its $6.5-billion funding to build the Oakajee port and rail project, but its shares remained in suspension. Earlier this month, Padbury announced that private Australian equity investors would...
23rd April 2014
 
 
 
 
 
 
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