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MBAC stock surges on loan maturity extensions, liquidity update

By: Henry Lazenby     Updated 2 hours 21 minutes ago The TSX-listed stock of Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday jumped by as much as 157%, or C$0.11, after the struggling company reported that it had signed final agreements with its senior lenders to extend the maturity of its loans and defer related interest and... 

Second drill hole at Lac Dinga confirms potash mineralisation

By: Natalie Greve Sub-Saharan Africa-focused African Potash has intersected multiple potash seams at the second exploration drill hole at its Lac Dinga potash project, in the Republic of Congo. The latest drill hole, which was completed at one of two delineated target locations, intersected a 112-m-thick salt... 

PFS drilling at South Boulder’s Colluli completed ahead of schedule

By: Leandi Kolver ASX-listed South Boulder Mines on Wednesday announced that prefeasibility study (PFS) level drilling at its Colluli potash project, in Eritrea, had been completed ahead of schedule. This early completion of the PFS section of the drilling programme enabled the finalisation of the mining study and... 

DuSolo permitted to start production from Brazil flagship

By: Henry Lazenby Brazil-focused DuSolo Fertilizers on Tuesday announced that it had received the final mining permit required to start mining and processing high-grade phosphate, discovered at the Santiago target of its Bomfim project, into direct application natural fertiliser (DANF). The company explained that... 

DuSolo permitted to start production from Brazil flagship

Eritrea potash project primed to service budding market, says developer

By: Natalie Greve Sydney-listed South Boulder Mines MD Paul Donaldson says the company’s developing Eritrea-based Colluli potash project is well positioned to supply what he believes will be a likely increase in global demand for potassium chloride and potassium sulphate, which are chiefly used as fertilisers.... 

Eritrea potash project primed to service budding market, says developer

Noble agrees to fund Australian Bauxite’s Tasmania project

By: Esmarie Swanepoel ASX-listed Australian Bauxite has secured up to A$8-million in financing for the development of its Tasmanian project, from commodities group Noble Resources. Under the terms of the agreement, Noble would provide Australian Bauxite with A$6-million in project finance, as well as a A$2-million... 

Australian Bauxite hunts for Bald Hill funding

By: Esmarie Swanepoel ASX-listed junior Australian Bauxite said on Tuesday it was in negotiations with a number of parties to finance its Bald Hill mine, in Tasmania. The negotiations were currently focused on clarifying key terms for a number of agreements on offer, the company stated. 

South Boulder improves plant design efficiency at Eritrea project

By: Natalie Greve Following the successful completion of metallurgical testwork that eliminated certain grinding and thickening infrastructure from the initial process design, Sydney-listed South Boulder Mines has finalised the feasibility study processing plant design for the Colluli potash project in Eritrea.... 

South Boulder improves plant design efficiency at Eritrea project

Potash Ridge secures potential acid offtake and marketing partner

By: Henry Lazenby Canadian potash project developer Potash Ridge on Friday reported that a subsidiary of the company had signed a nonbinding memorandum of understanding (MoU) regarding a potential offtake and marketing arrangement with a third-party marketer for the sulphuric acid output from its Blawn Mountain... 

Sirius signs Tanzania fertiliser MoU

By: Leandi Kolver Potash development company Sirius Minerals and Tanzania State-owned business Tanzania Fertilizer Company (TFC) have signed a memorandum of understanding (MoU) to establish and formalise a joint venture (JV) to blend and distribute polyhalite-based fertiliser products in Tanzania and the... 

Sirius signs Tanzania fertiliser MoU

Once more Karnalyte Resources shuffles CEO

By: Henry Lazenby Saskatchewan-focused potash project developer Karnalyte Resources on Wednesday announced a second change in top management this year, adding that it had launched a search for a permanent president and CEO, which it expected to appoint in the next two months. TSX-listed Karnalyte, which is looking... 

Once more Karnalyte Resources shuffles CEO

Moderate global economic growth outlook forces miners to keep promises

By: Henry Lazenby The most critical challenge miners needed to deal with during the next 12 months was to deliver on their promises of cost savings and regain the confidence of the capital markets, professional services firm KPMG Canada’s mining industry leader Lee Hodgkinson said on Thursday. Speaking to Mining... 

Moderate global economic growth outlook forces miners to keep promises

MBAC’s Itafós operation achieves new daily SSP output record

By: Creamer Media Reporter Brazil-focused fertiliser producer MBAC Fertilizer on Wednesday reported that it had reached a new daily record production of 1 700 t of single super phosphate (SSP) fertiliser at its Itafós operation. This also exceeded the expected daily production amount that the operation had been designed for. 

MBAC restarts SSP production after working capital drought

By: Henry Lazenby Brazil-focused fertiliser producer MBAC Fertilizer this week announced that it had restarted continuous single super phosphate (SSP) production at its Itafós operations, in Brazil, after receiving funds from the Santander working capital facility at the end of August. MBAC last month reported... 

MBAC restarts SSP production after working capital drought

African Potash to issue new shares following exercise of $200 000 convertible security

By: Leandi Kolver Aim-listed African Potash on Friday announced that it had received notice of exercise in respect of $200 000 of convertible security issued last month, pursuant to which 4.89-million ordinary shares now had to be issued. The $200 000 security exercised was part of the $3.75-million in convertible... 

African Potash to issue new shares following exercise of $200 000 convertible security

The quest for improved agricultural productivity spurs investor interest

By: Henry Lazenby Rising demand for protein and more sophisticated diets in developing countries are spurring investors to get excited about investing in fertilisers. The ‘protein story’ was still providing a good thesis for investment, as the developing world continued to consume more meat and dairy products,... 

The quest for improved agricultural productivity spurs investor interest

DuSolo gets operational licence for part of Bomfim project, Brazil

By: Henry Lazenby Brazil-focused DuSolo Fertilizers has received an operating licence for a part of its Bomfim project, in Brazil, allowing it to extract phosphate at the Santiago target. The TSX-V-listed project developer on Thursday noted that Naturatins, or the Environmental Agency of Tocantins state, granted... 

DuSolo gets operational licence for part of Bomfim project, Brazil

MBAC extends debt maturity dates, secures $18.2-million working capital

By: Henry Lazenby Brazil-focused fertiliser producer MBAC Fertilizer made strides in addressing its liquidity position after successfully reprofiling its debt obligations and securing an $18.2-million working capital loan. The TSX-listed company had been struggling with lower-than-expected working capital levels,... 

MBAC extends debt maturity dates, secures $18.2-million working capital

MetroCoal funding to keep Bauxite Hills going

By: Esmarie Swanepoel Bauxite developer Cape Alumina has secured A$250 000 debt financing from major shareholder MetroCoal to progress its Bauxite Hills project, in western Cape York, Queensland. The junior company reported on Wednesday that the loan would enable Cape Alumina to preserve its existing cash resource,... 

MetroCoal funding to keep Bauxite Hills going

FIRB approves Metallica JV

By: Esmarie Swanepoel The Foreign Investment Review Board (FIRB) has approved a joint venture (JV) between ASX-listed Metallica Minerals and China’s Ozore Resources. Under the JV, Ozore would provide about A$7.5-million in funding to develop Metallica’s Urquhart Point heavy mineral sands (HMS) project, in Cape York,... 

FIRB approves Metallica JV

Verde Potash reports ‘clear sight’ on available lines of credit

By: Henry Lazenby Brazilian potash project developer Verde Potash on Wednesday reported that the Brazilian Development Bank (BNDES) had briefed it on its available lines of credit to construct the 330 000 t/y ThermoPotash (TK) plant that would start as soon as all required permits were in hand. Verde in March... 

Verde Potash reports ‘clear sight’ on available lines of credit

AMEC Americas to undertake Ethiopia potash project design

By: Creamer Media Reporter TSX-listed Allana Potash has appointed engineering and project management company AMEC Americas to undertake the front-end engineering design (Feed) on its one-million-tonne-a-year muriate of potash (MoP) Danakil project in Ethiopia. This comes as preparatory work gets under way in anticipation... 

AMEC Americas to undertake Ethiopia potash project design

K+S Potash Canada appoints ABB to supply Legacy automation solution

By: Henry Lazenby Germany's K+S Potash Canada, the world's fourth-largest potash miner, has awarded a contract to supply a modern automation solution for its greenfield Legacy mine, in Saskatchewan, to power and automation technology group ABB. The C$4.1-billion Legacy project, near Bethune, Saskatchewan, would be... 

K+S Potash Canada appoints ABB to supply Legacy automation solution

Despite gaining less in 2013, EY's Canadian Mining Eye outpaces global indices

By: Henry Lazenby Despite professional services firm EY’s quarterly ‘Canadian Mining Eye’ index having gained only 9% in the three months ended June 30, the index outperformed the S&P/TSX composite index, which gained only 6% during the second quarter, and the London Metal Exchange (LME) index, which gained 7%... 

Despite gaining less in 2013, EY's Canadian Mining Eye outpaces global indices

Cape Alumina eyes DSO operation at Bauxite Hills

By: Esmarie Swanepoel Bauxite developer Cape Alumina has reported a 19.85-million tonne direct shipping ore (DSO) inferred resource at its Bauxite Hills project, in Queensland. The inferred DSO resource was in addition to the previously announced beneficiated bauxite inferred resource of 15.1-million tonnes, and an... 

Cape Alumina eyes DSO operation at Bauxite Hills

M&A deals to continue in H2 as companies take advantage of perceived low prices

By: Henry Lazenby The market can expect continued unsolicited merger-and-acquisition (M&A) activity during the second half of the year, driven by companies trying to take advantage of what they perceive to be lower target valuations and prices, Fasken Martineau partner and global mining group leader John Turner... 

M&A deals to continue in H2 as companies take advantage of perceived low prices

African Potash secures $3.7m to support Lac Dinga development

By: Natasha Odendaal Aim-listed African Potash has secured up to $3.75-million in convertible securities to support the development of its Lac Dinga potash project, in the Republic of Congo. The exploration company entered into a convertible securities issuance deed with Bergen Opportunity Fund, an institutional... 

African Potash secures $3.7m to support Lac Dinga development

African Potash starts drilling at Lac Dinga

By: Leandi Kolver Aim-listed exploration company African Potash has started drilling the first hole at its Lac Dinga project, in the Republic of Congo. The initial hole, which is planned to a depth of about 500 m below surface, is the first of a two-hole rotary/core drilling programme that will test two... 

African Potash starts drilling at Lac Dinga

PotashCorp lifts profit outlook, Q2 earnings beat expectations

By: Henry Lazenby Canadian fertiliser producer Potash Corp of Saskatchewan (PotashCorp) this week reported a near 27% drop in second-quarter profit at $472-million, or $0.56 a share, as lower potash prices dragged revenue down. However, the results for the period ended June 30 beat analyst expectations and... 

PotashCorp lifts profit outlook, Q2 earnings beat expectations

Brazil-based potash project in development phase

By: Jonathan Rodin Brazil-based fertiliser development company Verde Potash is focusing on securing an environmental licence for its Cerrado Verde potash project, which is currently in the development stage, in Brazil’s Minas Gerais province. Verde Potash CEO Cristiano Veloso tells Mining Weekly that the company... 

Brazil-based potash project in development phase
Photo by Verde Potash
POSITIVE RESULTS Verde Potash published a positive update in March on Cerrado Verde’s measured and indicated resource

Arianne Phosphate lifts Quebec resource base

By: Henry Lazenby TSX-V-listed Arianne Phosphate, which is developing the Lac à Paul project, in Quebec, this week reported that its 2014 drilling programme had enabled it to significantly lift its flagship project’s compliant inferred resources. The Saguenay, Quebec-based firm on Wednesday said it had added... 

Arianne Phosphate lifts Quebec resource base
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