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Cazaly and Lithium Australia join forces in WA

By: Esmarie Swanepoel ASX-listed Cazaly resources and fellow-listed Lithium Australia have agreed to combine their Western Australian assets and jointly hunt for pegmatite minerals, including lithium. The agreement would combine the two companies’ present and future lithium mineral interest within a 100-km radius of... 

Rio rides to Era's rescue

By: Esmarie Swanepoel Uranium miner Energy Resources of Australia (Era) has signed a A$100-million credit facility with parent company Rio Tinto to allow for the rehabilitation of the Ranger project area, in the Northern Territory. The ASX-listed Era told shareholders that at the end of December last year, the... 

Rio rides to Era's rescue

Pantoro gains full control of Nicolsons project

By: Esmarie Swanepoel ASX-listed junior Pantoro, previously known as Pacific Niugini, has reached an agreement with fellow listed Bulletin Resources to acquire the remaining 20% interest in the Halls Creek project, in Western Australia. The Halls Creek project contains the Nicolsons mine, which started operations in... 

Havilah pauses mining at Portia

By: Esmarie Swanepoel ASX-listed junior Havilah Resources on Monday announced that mining at its Portia gold mine, in Western Australia, has been temporarily suspended as the contract miner assessed safety concerns. The Portia mine produced its first gold ore in March this year, more than three months ahead of... 

Dakota raises funds for exploration

By: Esmarie Swanepoel Strategic metals explorer Dakota Minerals has raised A$12.3-million through a share placement to accelerate drilling at its Lynas Find lithium project, in Western Australia. The ASX-listed company placed 61.6-million shares, priced at 20c each, to institutional and sophisticated investors to... 

Lerala starts production - Kimberley Diamonds

By: Esmarie Swanepoel Diamond production from the Lerala mine, in Botswana, has started, with owner Kimberley Diamonds targeting first sales in June. The start of processing operations at the Lerala mine followed the start of openpit mining in April this year. 

Ausenco shares surge on possible offer

By: Esmarie Swanepoel The share price of project house Ausenco increased by nearly 12% on Monday after the company became the focus of an unsolicited, indicative and non-binding proposal from shareholder Resource Capital Fund (RCF VI). RCF VI was proposing to privatize Ausenco by way of a scheme of arrangement. 

Metals X reports strong quarter as Aditya takeover advances

By: Esmarie Swanepoel Diversified junior Metals X has reported a quarter of steady production during the three months to March, as it continued to advance its acquisition of fellow-listed Aditya Birla. Gold production during the March quarter reached 47 591 oz, which compared with the 48 134 oz produced in the... 

Doray on track to meet full-year production targets

By: Esmarie Swanepoel Another solid quarter of gold production from the Andy Well mine, in Western Australia, has placed gold miner Doray Minerals in a strong position to meet the upper end of its full-year production guidance of between 78 000 oz and 85 000 oz for the full year 2016. The Andy Well operation... 

Low rare earths prices cause drop in Lynas revenue

By: Esmarie Swanepoel Rare earths miner Lynas has reported a significant drop in revenue for the three months to March 31, owing to low rare earths prices, which also hinders the miner’s plans to fund improvements at its Lynas Advanced Materials Plant (Lamp) operation, in Malaysia, through cash flows. Sales revenue... 

Low rare earths prices cause drop in Lynas revenue

OceanaGold reports solid quarter as Didipio breaks production record

By: Esmarie Swanepoel Record production from the Didipio gold mine, in the Philippines, has resulted in dual listed OceanaGold increasing its gold production during the three months to March. The ASX- and TSX-listed miner reported on Friday that gold production for the first quarter ended March had increased to 122... 

Maxwells resource estimate upped by 400% – Silver Lake

By: Esmarie Swanepoel Junior gold miner Silver Lake Resources has reported a 400% increase in the mineral resource at its Maxwells project, within the Mount Monger project, in Western Australia. Following an accelerated exploration programme, the project was now estimated to host a resource of 1.69-million tonnes,... 

Oz backs Minotaur findings in South Australia

By: Esmarie Swanepoel Junior explorer Minotaur Exploration has identified a number of new copper-gold targets around producer Oz Minerals’ Prominent Hill operation, in South Australia, which would now be investigated further. In October of last year, the two companies signed a heads of agreement that allowed Minotaur... 

Capricorn shakes the tin to fund Karlawinda studies

By: Esmarie Swanepoel ASX-listed junior Capricorn Metals has raised A$12.6-million through a share placement to advance its flagship Karlawinda gold project, in Western Australia. The company, previously known as Malagasy Minerals, said on Friday that it had placed 97.2-million shares, at a price of 13 each to... 

APLNG pushes Origin production

By: Esmarie Swanepoel With the start of shipments from the Australia Pacific liquefied natural gas (APLNG) project in January, producer Origin Energy on Friday reported a 12% increase in production for the three months to March, compared with the previous quarter. Origin reported production of 60.9 PJe during the... 


By: Creamer Media Reporter Process industry training provider MetSkill is actively involved with the development of the new occupational qualifications for the Quality Council for Trades and Occupations under the Mining Qualifications Authority (MQA). Benoni, Gauteng-based MetSkill, 100% owned by MD Rebecca Sands, has... 

Cliffs rallies as strong Q1 performance sees it back in the black

By: Henry Lazenby The largest US iron-ore producer Cliffs Natural Resources rallied as much as 35% to $5.38 a share on the NYSE on Thursday, after swinging to a first-quarter profit amid sustained market improvement. For the three months ended March 31, Cliffs recorded net income attributable to Cliffs' common... 

Cliffs rallies as strong Q1 performance sees it back in the black

Despite Otjikoto slope failure, B2Gold gold output on course for another record year

By: Henry Lazenby Canadian gold producer B2Gold has exceeded its first-quarter production guidance by 8 966 oz of gold, for company-wide output of 127 844 oz of the yellow metal, an increase of 10% over the same period in 2015. Despite a slope failure on the pit access ramp at the Otjikoto mine, in Namibia, on... 

Beach sees 5% revenue drop despite production, sales increase

By: Esmarie Swanepoel Oil and gas producer Beach Energy has reported a 5% drop in revenue for the three months to March 31, despite an increase in production and sales volumes. On the back of a 9% decrease in oil prices between December and March, Beach’s revenue fell from A$126.4-million to A$119.7-million. 

State, Commonwealth budgets under pressure amid commodity price slump

By: Esmarie Swanepoel Advisory firm Deloitte Access Economics said on Thursday that both state and Commonwealth budgets would remain under pressure as commodity prices continued to remain low. In its latest edition of the Investment Monitor publication, the firm noted that the fall in mining investment in Queensland... 

State, Commonwealth budgets under pressure amid commodity price slump

An oil province off South Australia would be beneficial – Appea

By: Esmarie Swanepoel The Australian Petroleum Production & Exploration Association (Appea) on Thursday told a Senate hearing that the development of an oil province in the Great Australian Bight would deliver benefits to both South Australia and Australia as a whole. A Senate committee was tasked in February to... 

Bald Hill ships first cement-grade bauxite

By: Esmarie Swanepoel ASX-listed Australian Bauxite (ABx) has shipped its first 5 557 t of cement-grade bauxite from the Bald Hill mine, in Tasmania. The company told shareholders on Thursday that the customer sought a second, larger shipment of between 30 000 t and 40 000 t once the large stockpile warehouse at the... 

Northern Star's cost-cutting programme bears fruit

By: Esmarie Swanepoel Gold miner Northern Star Resources said on Thursday that an effective cost-cutting programme during the March quarter had enabled the company to maximise margins and free cash flows. MD Bill Beament said that this was evident in the A$60-million increase in cash, bullion and investments reported... 

Vivien adds ounces to Ramelius quarter

By: Esmarie Swanepoel West Australian gold miner Ramelius Resources has reported a slight drop in production during the three months to March, compared with the previous quarter, despite the Vivien operation coming online during the quarter. The Mt Magnet operation delivered 9 356 oz of gold during the quarter under... 

Vital launches scoping study in Burkina Faso

By: Esmarie Swanepoel ASX-listed junior Vital Metals has launched a scoping study at its Kollo gold deposit, in Burkina Faso, to evaluate the feasibility of an openpit project. MD Mark Strizek said on Thursday that the project provided a compelling near-term development and cash flow opportunity for Vital Metals. 

Kingsgate production tumbles

By: Esmarie Swanepoel March quarter gold production from ASX-listed Kingsgate Consolidated declined significantly compared with the December quarter, as the miner faced difficult conditions. Kingsgate on Thursday reported that group gold production for the three months to March reached 32 472 oz, compared with the 47... 

Karouni lifts Troy production

By: Esmarie Swanepoel The Karouni gold project, in Guyana, was delivering ahead of expectations, owner Troy Resources said on Thursday, with the product to date producing some 35% more ounces than predicted by the ore reserve model. The Karouni project, which poured its first gold in November last year, produced 20... 

Iron-ore, steel lead China commodities retreat as curbs bite

By: Reuters A major Chinese commodities exchange took further steps to calm volatile markets on Wednesday, hiking transaction fees and widening trade limits in a move that could make exiting futures contracts more orderly. Iron-ore and steel futures fell again in reaction to higher trading costs, brought in... 

Iron-ore, steel lead China commodities retreat as curbs bite

Adani Australian coal mine approval faces fresh court challenge

By: Reuters A green group has asked the Supreme Court of Queensland to review the environmental approval granted to Indian conglomerate Adani Enterprise Ltd to build one of the world's biggest coal mines in the Australian state. Adani, which was granted a mining lease by Queensland earlier this month, has... 

Atlas shareholders vote to restructure debt

By: Esmarie Swanepoel The shareholders of iron-ore miner Atlas Iron have voted in favour of a debt restructuring deal, allowing the company to remain afloat despite the difficult market conditions. Shareholders holding a combined 97.87% of the company voted in favour of the transaction, while those holding only a... 

APC secures funding for Dartbrook buy-out

By: Esmarie Swanepoel Junior Australian Pacific Coal (APC) has secured A$5-million in funding from cornerstone investor Trepang Services to purchase the remaining 16.67% interest in the Dartbrook joint venture (JV), in New South Wales, from Marubeni Coal. The ASX-listed company in December of last year signed an... 

Gold Road raises $74m for Gruyere

By: Esmarie Swanepoel ASX-listed Gold Road Resources on Wednesday announced plans to raise A$74-million through a share placement and accelerated entitlement offer to fund the development of its Gruyere project, in Western Australia. The company would place an initial 98-million shares, priced at 44c each, to... 

Gold Road raises $74m for Gruyere

Fortescue buys out more debt

By: Esmarie Swanepoel Iron-ore miner Fortescue Metals would repay $577-million in debt through after issuing voluntary redemption notices to holders of 2019 notes. “This debt repayment delivers on our sustained commitment to reduce all-in costs, further generating strong cash flows and continuing to reduce our debt,”... 

Beach taps into more cost savings following merger

By: Esmarie Swanepoel Australian oil and gas producer Beach Energy has revealed annual cost savings of up to A$40-million for the 2017 financial year, following an earlier merger with Drillsearch Energy. However, the ASX-listed company has warned that further job cuts were to be expected. 

Oz Minerals hedges gold bets at Prominent Hill

By: Esmarie Swanepoel Copper-gold miner Oz Minerals has hedged a portion of the gold contained within stockpiles at its Prominent Hill mine, in South Australia, to take advantage of Australian gold prices, which were at a near 15-year high. The miner told shareholders on Wednesday that the Prominent Hill stockpiles... 

PanTerra weighs options for Las Lagunas plant, eyes JV in China

By: Esmarie Swanepoel Gold producer PanTerra Gold has this week unveiled options to use its Albion/carbon in leach (CIL) processing plant in the Dominican Republic, once gold and silver extractions from the refractory tailings at the Las Lagunas project was completed in mid-2019. The plant has the capacity for... 

Indonesia estimates value of Freeport unit two-thirds below offer

By: Reuters Indonesia has proposed a value for a 10.64% stake in Freeport-McMoran's local unit that is about two-thirds below the figure the company proposed in January. Copper miner Freeport's unit is valued at about $630-million and the US-based parent has been asked to revise its offer, an Indonesian... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook

By: Henry Lazenby A 17% rally in the price of gold during the first quarter of the year to around $1 270/oz happened too rapidly according to market analysts at Thomson Reuters GFMS, as poor demand from Asia would probably see the gold price fall below $1 200/oz over the next few months. However, this price level... 

Q1 gold rally too rapid for support, as lower Asian demand weighs on price outlook
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