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Aquila receives federal water discharge permit for Michigan mine

By: Henry Lazenby     6th April 2017 Canadian project developer Aquila Resources has received the National Pollutant Discharge Elimination System (NPDES) permit for its Back Forty zinc/gold project, in Michigan, representing a major milestone for the company. The NPDES was issued on Wednesday, following a comprehensive public... 

Aquila’s Back Forty gains two more final permits before year-end

By: Henry Lazenby     29th December 2016 TSX-listed project developer Aquila Resources has picked up two further final permits for its flagship Back Forty gold/zinc project, in Michigan, the company announced Thursday. The Michigan Department of Environmental Quality has issued the final ‘nonferrous metallic mineral mining’ permit and... 

Aquila rises on obtaining draft mining, pollution permits

By: Henry Lazenby     3rd September 2016 The TSX-listed stock of base metals project developer Aquila Resources has jumped 27% on Friday after it announced receipt of draft mining and pollution permits for its Back Forty gold/zinc project, located in Michigan's Upper Peninsula. The Michigan Department of Environmental Quality (MDEQ) has... 

Aquila improves recoveries at Michigan-based Back Forty project

By: Henry Lazenby     11th April 2016 After completing comprehensive and integrated metallurgical testwork, TSX-listed project developer Aquila Resources on Monday reported that it had improved recoveries and the potential for increased production of its flagship Back Forty project's two main metals, gold and zinc. Gold recoveries... 

Aquila undertakes feasibility study on Michigan flagship

By: Henry Lazenby     14th January 2016 TSX-listed Aquila Resources on Wednesday announced that Toronto-based project management and engineering firm Lycopodium Minerals Canada would undertake a feasibility study on its Back Forty base metals project, located in Michigan's Upper Peninsula. The study would run in parallel with the... 

Iron-ore slump halts work on Australia's last big mine project

By: Reuters     24th December 2015 Slumping iron-ore prices have brought down the shutters on the last of Australia's mining boom-era projects still on the drawing board, with partners calling time on the planned $5-billion West Pilbara Iron Ore project. The proposed mine, a four-way partnership led by two of Asia's biggest steel... 

Aquila appoints interim chairperson as Mark Burridge looks to new opportunities

By: Henry Lazenby     15th December 2015 Project developer Aquila Resources has appointed director Edward Munden as its board’s new interim chairperson, after Mark Burridge stepped down with immediate effect to pursue other opportunities. Having been appointed a director of the company since 2001, Munden had more than 35 years... 

EPA recommends approval of West Pilbara iron-ore project changes

By: Esmarie Swanepoel     1st December 2015 The Western Australian Environmental Protection Authority (EPA) has approved amendments to the West Pilbara iron-ore project, being developed by joint venture (JV) partners Aurizon and Baosteel Resources. The West Pilbara project was granted environmental approval in November 2011, but in July... 

Aurizon disputes Wiggins Island financial exposure reduction notices

By: Esmarie Swanepoel     5th October 2015 Freight and infrastructure heavyweight Aurizon was disputing notices from seven of the eight Wiggins Island rail project customers to reduce their financial exposure to the rail project. Aurizon said on Monday that the notices detailed that the seven customers had exercised their right under a... 

Ramatlhodi mired in new mine rights row – newspaper

By: RDM News Wire      28th August 2015 Aquila Resources‚ a subsidiary of China’s state-owned Baosteel‚ which has had a long-running battle with the Department of Mineral Resources over a manganese deposit‚ is poised to approach the courts to seek a judicial review if a resolution is not reached‚ Business Day reported. If the legal... 

Aquila Resources confirms intent to apply for Michigan project permits

By: Henry Lazenby     12th June 2015 The proponent of the Back Forty project in Michigan expects to apply for regulatory permitting before year-end. To this end, TSX-listed Aquila Resources confirmed on Friday that it had filed a letter of intent with the Michigan Department of Environmental Quality (MDEQ). 

Aquila Resources closes $20.75m financing

By: Henry Lazenby     1st April 2015 TSX- and Frankfurt-listed Aquila Resources has closed a private placement and a silver purchase agreement for total funding of $20.75-million with Orion Mine Finance. The development-stage company, which was focused on developing the 100%-owned Back Forty gold/zinc project, in Michigan's Upper... 

Aquila Resources takes govt to court over overlapping mining rights

By: Natalie Greve     26th February 2015 Steel producer Aquila Resources on Thursday instituted legal proceedings against the South African government in the Pretoria High Court to resolve an alleged overlapping prospecting right over its Avontuur manganese project, in the Northern Cape. The company said in a statement that its decision... 

Aquila Resources to enter proposed ‘transformational’ financing with Orion Mine Finance

By: Henry Lazenby     28th January 2015 Project developer Aquila Resources has entered into an exclusivity agreement with Orion Mine Finance on a multilevel financing transaction that includes a private placement and a silver stream in exchange for funding $20.75-million. TSX- and Frankfurt-listed Aquila said on Tuesday that it would... 

Potential funding lined up for West Pilbara iron-ore project

By: Esmarie Swanepoel     18th November 2014 China’s Baosteel and its partner Aurizon have signed a memorandum of understanding (MoU) with Australian financial institution ANZ and the China Development Bank for the potential development of the West Pilbara iron-ore project. Baosteel and freight transporter Aurizon acquired the West Pilbara... 

Global mining M&A rebounds, but Canada takes the cake

By: Henry Lazenby     17th September 2014 The three months ended June 30 saw global mergers and acquisitions (M&A) activity rebound from disappointing lows in the first quarter, but Canada was host to the most significant gold deals by a large margin, professional services firm KPMG said. The firm’s ‘Mining M&A Quarterly Newsletter’... 

Aquila Resources reports positive results for new Michigan project PEA

By: Henry Lazenby     23rd July 2014 Great Lakes-focused Aquila Resources on Wednesday reported the positive results of a new preliminary economic assessment (PEA) on its flagship Back Forty gold/zinc project, in Michigan, US. Completed by consulting engineering firm Tetra Tech, the new PEA considered various trade-off studies that... 

Baosteel, Aurizon move to wrap up Aquila takeover

By: Esmarie Swanepoel     9th July 2014 The joint bidders for Australian diversified junior Aquila Resources would move to wrap-up the takeover, after gaining control of more than 90% of the company’s issued capital. China’s Baosteel and its partner Aurizon Operations said in a joint statement on Wednesday that the companies would... 

Baosteel, Aurizon gain control of Aquila

By: Esmarie Swanepoel     3rd July 2014 China’s steel giant Baosteel and its business partner Aurizon Operations have gained control of diversified miner Aquila Resources. Aquila on Thursday signed a bid implementation agreement with the two companies, which allowed for an accelerated payment of the takeover offer within five business... 

Aquila cofounder Bass to accept Baosteel-Aurizon offer

By: Esmarie Swanepoel     26th June 2014 Joint bidders Baosteel and Aurizon Operations could claim a major stake in takeover target Aquila Resources, after the company’s cofounder Charles Bass said that he intended to accept the offer. Bass holds nearly 10.7% of Aquila’s issued capital. 

Baosteel offer for Aquila reasonable, but not fair – expert

By: Esmarie Swanepoel     23rd June 2014 An independent expert has concluded that while the joint bid by China’s Baosteel and freight operator Aurizon Holdings for ASX-listed Aquila Resources was not fair, it was reasonable. Aquila has previously urged shareholders to accept the takeover offer from Baosteel and Aurizon, which were... 

WA details plans for deep-water Anketell port

By: Esmarie Swanepoel     18th June 2014 The Western Australian government on Wednesday revealed its master plan for the proposed Anketell port, detailing the plans for the multi-user and multi-commodity deep-water port. At full development, the Anketell port would have capacity of about 350-million tonnes a year, around 20% more than... 

Aquila advises to accept Baosteel bid as Mineral Resources talks fail

By: Esmarie Swanepoel     18th June 2014 The board of takeover target Aquila Resources has urged shareholders to accept the joint offer by China’s Baosteel and freight transporter Aurizon Holdings, after the company was unable to negotiate a deal with fellow-listed Mineral Resources. The diversified developer on Wednesday confirmed... 

Aquila and Mineral Resources go on trading halt

By: Esmarie Swanepoel     16th June 2014 Speculation arose on Monday that ASX-listed takeover target Aquila Resources and fellow-listed Mineral Resources were on the cusp of a corporate deal after both companies went into a trading halt. Aquila was currently the target of a A$1.4-billion joint bid by China’s Baosteel Resources and... 

Mineral Resources confirms Aquila investment, eyes West Pilbara project

By: Esmarie Swanepoel     12th June 2014 ASX-listed Mineral Resources on Thursday confirmed that it had acquired more than 52.6-million shares in takeover target Aquila Resources, saying it had been investigating a development plan for Aquila’s West Pilbara iron-ore project since before the Baosteel-Aurizon takeover offer was launched.... 

Aquila jumps Native Title hurdle at West Pilbara

By: Esmarie Swanepoel     11th June 2014 Takeover target Aquila Resources has secured a Native Title agreement with the Kuruma Marthudunera native title claim group over its West Pilbara iron-ore project, in Western Australia. The Native Title agreement was a necessary step for Aquila towards the grant of a mining lease for Stage 1 of... 

FIRB approves Baosteel, Aurizon bid for Aquila

By: Esmarie Swanepoel     29th May 2014 The Foreign Investment Review Board (FIRB) has approved Chinese steel giant Baosteel and freight operator Aurizon’s A$1.4-billion bid for ASX-listed Aquila Resources. FIRB approval was one of the conditions of the A$3.40-a-share offer for all Aquila shares on issue. The offer still remained... 

Deal pipeline building but backdrop of caution remains

By: Esmarie Swanepoel     22nd May 2014 Australia’s merger and acquisition (M&A) activity declined during the first quarter of the year, advisory firm Ernst & Young (EY) reported on Thursday, with deal value and volumes down 15% and 79%, respectively. Only 45 M&A transactions were concluded during the first quarter, with a combined... 

Baosteel and Aurizon bid $A1.4bn for Aquila

By: Esmarie Swanepoel     5th May 2014 Chinese steel giant Baosteel and Australian freight operator Aurizon have made a A$1.42-billion play for ASX-listed Aquila Resources. Boasteel Resources chairperson Zhihao Dai said on Monday that the A$3.40-a-share offer provided Aquila shareholders an opportunity to realise certain value for... 

New mining plan to boost Washpool output – Aquila

By: Esmarie Swanepoel     15th April 2014 A supplementary study for ASX-listed Aquila Resources’ Washpool hard coking coal project, in Queensland, has introduced a new mining plan for the operation that would increase output. The supplementary study to the definitive feasibility study (DFS) was undertaken to investigate the blending of... 

Aquila settles Eagle Downs dispute with Vale

By: Esmarie Swanepoel     14th April 2014 Junior diversified miner Aquila Resources on Monday reported that it had reached an agreement with Brazilian major Vale around the Eagle Downs hard coking coal project, in Queensland. In the middle of last year, Aquila and Vale delayed the completion of Eagle Downs from November 2016 to the... 

Aquila to take action if no DMR overlapping prospecting right decision by May

By: Leandi Kolver     11th March 2014 Should the South African Department of Mineral Resources (DMR) not finalise diversified junior Aquila Resources’ internal appeal by May to set aside an alleged overlapping prospecting right regarding its Avontuur manganese project, in the Northern Cape, and its mining right application over the... 

Canadian juniors close merger, consolidate Back Forty interest

By: Henry Lazenby     17th January 2014 Canadian miner Hudbay Minerals on Friday announced that it had completed the sale of its 51% controlling stake in the Back Forty zinc/gold exploration property, located in Menominee county, Michigan, to its fellow TSX-listed joint venture (JV) partner, Aquila Resources. Through the deal, Hudbay... 

Shares spike at Aquila after Baosteel lifts stake

By: Reuters     19th December 2013 Shares of Australia's Aquila Resources briefly rose more than 6% on Thursday after the company said one of China's largest steelmakers, Baosteel, had raised its stake to almost 20%. The stock climbed as high as A$2.25, or by A$0.13 before falling back. At 03:00 GMT it stood 2% higher at A$2.16. 

Former Gindalbie MD joins Aquila board

By: Creamer Media Reporter      8th November 2013 The former MD of emerging magnetite producer Gindalbie Metals, Tim Netscher, has joined the board of junior diversified mining company Aquila Resources as an independent nonexecutive director. The company said that Netscher, who is also currently the chairperson of ASX-listed uranium explorer... 

Canadian juniors announce merger, to consolidate Back Forty interest

By: Henry Lazenby     8th November 2013 TSX-V-listed gold juniors Aquila Resources Inc and REBgold on Thursday announced a definitive agreement to combine their businesses, after which the merged entity would buy the remaining 51% interest from Hudbay Resources in the Back Forty gold/zinc project, located in Menominee county,... 

Aquila considering legal action to ‘protect’ rights at Avontuur

By: Esmarie Swanepoel     20th September 2013 Diversified junior Aquila Resources is considering legal action to ensure its rights over a portion of the Gravenhage manganese deposit, which forms part of the Avontuur project in South Africa. Aquila has been in contact with lawyers from Pan African Mineral Development Company (PAMDC), which... 

Global iron-ore oversupply unlikely – Aquila

By: Natalie Greve     17th September 2013 ASX-listed Aquila Resources CEO Tony Poli expects the continued growth in steel production in China to underpin the price of iron-ore – its key input – and does not believe that the largely anticipated oversupply of the mineral will materialise to any great extent. Poli, whose diversified junior... 

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