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Coal miner New Hope swings to full-year profit

By: Esmarie Swanepoel     Updated 5 hours ago Coal miner New Hope Corporation has swung back into black during the 2017 financial year, with the miner reporting a 362% increase in net profit after tax. During the 12 months to July, net profit increased to A$140.6-million, compared with a net loss of A$53.6-million in 2016. 

Doray finds new gold at Gnaweeda

By: Esmarie Swanepoel     Updated 5 hours ago Western Australian gold miner Doray Minerals has announced a new gold discovery at the St Anne’s prospect, at its Gnaweeda project. The ASX-listed company noted that first pass reverse circulation drilling over the St Annes prospect had returned strong gold mineralisation, with 20 m at 2.4 g/t... 

Syrah aiming to raise A$110m for Mozambique project

By: Esmarie Swanepoel     Updated 5 hours ago Graphite developer Syrah Resources is hoping to raise A$110-million through a share placement and pro-rata accelerated nonrenounceable entitlement offer to fund the development of its Balama project, in Mozambique, and to provide working capital. The company said on Tuesday that some 7.4-million... 

Artemis raises A$12m

By: Esmarie Swanepoel     Updated 5 hours ago Junior Artemis Resources will raise A$12-million through the issue of some 60-million shares, at a price of 20c each, to fund its share of gold exploration in Western Australia. “These funds will allow Artemis to play a key role in working closely Novo [Resources] on the 50/50 joint venture (JV)... 

Australian Bauxite completes shipments

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed bauxite producer Australian Bauxite has delivered 30 000 t of bauxite ahead of schedule, from its Bald Hill mine, in Tasmania. The customer will pay 90% of the invoice value immediately, with the balance due on proof of weight. 

Gulf secures ore supply for Kupang smelter

By: Esmarie Swanepoel     Updated 6 hours ago ASX-listed Gulf Manganese has inked two ore supply agreements with manganese mining companies in Timor, to secure feedstock to start operations at the Kupang smelting facility, in Indonesia. A further supply agreement was expected shortly, Gulf said on Tuesday, along the Kupang start-up to take... 

Peak hopes for A$5.5m to advance Ngualla

By: Esmarie Swanepoel     Updated 6 hours ago Rare earths developer Peak Resources was hoping to raise as much as A$5.5-million in a share placement and entitlement issue aimed at progressing work at its Ngualla project, in Tanzania. The company on Tuesday announced that it will raise some A$2.8-million through a share placement to... 

Kal Tire Proving Itself in Australia

     18th September 2017 Kal Tire’s Mining Tire Group showcases growing Australian team, reach and innovation at AIMEX Sydney, Aust ralia—Kal Tire’s Mining Tire Group has never wavered in its resolve to provide customers around the world with mining tyre services and products that create a competitive advantage for their... 

Black Mountain divests of silver assets to focus on vermiculite

By: Esmarie Swanepoel     18th September 2017 ASX-listed junior Black Mountain Resources has divested of its non-core US silver assets, in a bid to focus its attention on its Namakara vermiculite mine, in Uganda. The company on Monday told shareholders that it had divested of its 70% stake in two prospective US silver mines in Montana and... 

Avanco revises Jaguar deal

By: Esmarie Swanepoel     18th September 2017 ASX-listed junior Avanco Copper has revised its agreement with TSX-listed Jaguar Mining over the CentroGold project, in Brazil. The two companies in 2016 entered into an A$8.45-million earn-in agreement under which Avanco could take full ownership of the project through various instalments. 

Research consortium to spend A$14.6m on South Australian copper

By: Esmarie Swanepoel     18th September 2017 he South Australian government will spend A$4-million over the next four years on a research consortium, led by the University of Adelaide, to develop advanced technologies to boost copper production and to develop a globally competitive mining technology services sector. The University of... 

Sumatra signs exploration deal at Tembang

By: Esmarie Swanepoel     18th September 2017 ASX-listed Sumatra Copper & Gold has formed a strategic alliance with Indonesian gold producer Merdeka Copper Gold to extend the mine life and possibly increase production from the Tembang gold-silver operation, in Indonesia. Merdeka will fund ongoing exploration work at Tembang, spending an... 

Gascoyne mandates banks for debt financing

By: Esmarie Swanepoel     18th September 2017 Gold developer Gascoyne Resources has mandated the Commonwealth Bank of Australia and the National Australia Bank to arrange a debt facility of up to A$60-million to fund the development of the Dalgaranga gold project, in Western Australia. “Mandating tier 1 Australian lenders for the debt... 

MZI approves new operating plan for WA mineral sands mine

By: Esmarie Swanepoel     18th September 2017 The board of mineral sands miner MZI Resources has approved a higher throughput operating plan for its Keysbrook mine, in Western Australia, aimed at increasing production and reducing unit cash costs. The plan will result in a throughput increase at Keysbrook from four-million tonnes a year... 

Ramelius buys Edna May from Evolution for A$90m

By: Esmarie Swanepoel     18th September 2017 Gold miner Ramelius Resources has emerged as the victor in the bid for fellow-listed Evolution Mining’s Edna May mine, in Western Australia. Evolution last week told shareholders that the company was evaluating the sale of the Edna May gold mine, after receiving a number of offers from... 

Gold miners rally against new WA gold royalty

By: Esmarie Swanepoel     18th September 2017 Western Australian gold miners on Monday rallied in Kalgoorlie to protest the state government’s plans to impose a new royalty on the gold sector. Treasurer Ben Wyatt earlier this month announced that a tiered royalty rate would be introduced from January 1, to assist the government in repairing... 

Perth-based company Process IQ, ideal partner for United States revolutionary mining technology

     15th September 2017 Process IQ Pty Ltd, a Perth-based Australian METS company, has been appointed as the exclusive commercialisation partner of new technology developed in the United States that can save energy and maintenance costs in the mining industry.   The track record of Process IQ and its international... 

Ramelius strikes deal with Newmont in Nevada

By: Esmarie Swanepoel     15th September 2017 Australian gold miner Ramelius Resources has struck a deal with US gold major Newmont Mining over its South Monitor land package, in Nevada. Under the terms of a farm-in and joint venture (JV) agreement signed this week, Ramelius could earn an 80% interest in the South Monitor gold project by... 

South32 ups stake in Arizona Mining

By: Esmarie Swanepoel     15th September 2017 Diversified miner South32 will acquire an additional 15-million shares in TSX-listed Arizona Mining, taking its share in the Canadian company to 19.9%. South32 in May this year acquired an initial 45-million shares, or a 15% interest in Arizona Mining for an investment of C$110.3-million. 

Vital raises A$2m to advance Watershed work

By: Esmarie Swanepoel     15th September 2017 ASX-listed junior Vital Metals has raised A$2-million through a share placement to progress its Watershed tungsten project, in Queensland. The company will issue 263.9-million new shares, at 75c each, to professional and sophisticated investors, under its current placement capacity. 

Predictive and Progress team up in Burkina Faso

By: Esmarie Swanepoel     15th September 2017 ASX-listed junior Predictive Discovery has signed a joint venture (JV) agreement with Canada’s Progress Minerals over its exploration permits in Burkina Faso. Predictive’s current tenement holdings in Burkina Faso cover some 100 km of strike length on the Samira Hill greenstone belt, with the... 

Ardea raises cash for WA cobalt exploration

By: Esmarie Swanepoel     15th September 2017 Junior metals explorer Ardea Resources has raised A$5.5-million in a share placement to sophisticated and professional investors, to accelerate drill programmes at its KNP cobalt project, in Western Australia. Some 7.6-million new fully paid ordinary shares would be issued under the company’s... 

Empire puts subsidiary into administration

By: Esmarie Swanepoel     15th September 2017 ASX-listed Empire Oil & Gas has placed its subsidiary Empire Oil Company into voluntary administration, after ASX-listed Mineral Resources issued a notice of default under a A$15-million loan facility agreement. Mineral Resources this week said that it took the steps in order to protect its... 

All South Africans need to work together to grow and transform mining

By: Martin Creamer     15th September 2017 Mineral Resources Minister Mosebenzi Zwane makes sure he attends foreign mining conferences but fails to engage stakeholders at home on the realities of his Mining Charter Three, which is a great pity. Unfortunately, he was not challenged at the LatAm Mining Cumbre in Santiago, but thankfully his... 

First sod turned on A$800m Northern gas pipeline

By: Esmarie Swanepoel     14th September 2017 Queensland State Development and Natural Resources and Mines Minister Dr Anthony Lynham has turned the first sod at the A$800-million Northern gas pipeline. The 622-km pipeline, being developed by Jemena, will link Tennant Creek in the Northern Territory to Mount Isa, in Queensland, with first... 

Core to buy Liontown’s Bynoe lithium project

By: Esmarie Swanepoel     14th September 2017 ASX-listed Liontown Resources has struck a deal with fellow listed Core Exploration to divest of its Bynoe lithium project, in the Northern Territory. Under the terms of the agreement, announced on Thursday, Core would acquire the Bynoe project for an up-front cash consideration of... 

Metro awards Bauxite Hills contract

By: Esmarie Swanepoel     14th September 2017 Bauxite developer Metro Mining has awarded a mining contract at its Bauxite Hills mine, in Queensland, to contractor SAB Mining. Mine construction at Bauxite Hills started in July this year, and mining operations were on schedule to start in April 2018, with Metro saying on Thursday that SAB was... 

Metminco gets go-ahead for underground ops

By: Esmarie Swanepoel     14th September 2017 Dual-listed Metminco has received approval from the Colombian environmental agency in the Department of Risaralda, to conduct underground development at its Miraflores gold project. The development approval will allow the company to expose the previously defined ore zones on multiple levels, up... 

Aurora puts in new bid for Molopo following US oil and gas deal

By: Esmarie Swanepoel     13th September 2017 ASX-listed asset manager Aurora Funds Management has revised its takeover bid for fellow listed Molopo Energy. Aurora in July announced plans to make an 18c a share takeover offer, under which Molopo shareholders will be able to elect to receive the bid consideration in either cash, capped at... 

Poseidon and Lithium Australia team up on lithium

By: Esmarie Swanepoel     13th September 2017 ASX-listed Poseidon Nickel and fellow-listed Lithium Australia have inked a lithium exploration and processing memorandum of understanding (MoU) over the Lake Johnston project, in Western Australia. The parties are planning to explore for lithium-hosted pegmatites on tenements held by both firms... 

South Johnstone work programme approved

By: Esmarie Swanepoel     13th September 2017 The Queensland Department of Natural Resources and Mines has formally approved the works programme for the South Johnstone bauxite project. The approval comes after ASX-listed project developer Queensland Bauxite received approval from the Department of Environment and Heritage Protection for... 

Explaurum ups Tampia resource estimate

By: Esmarie Swanepoel     13th September 2017 ASX-listed junior Explaurum has announced a 125% increase in the mineral resource estimate at its Tampia gold project, in Western Australia. The company on Wednesday reported that the resource estimate had increased to 11.3-million tonnes, at 1.91 g/t gold for 695 000 oz of gold, with 90%... 

Platina declares maiden reserve in NSW

By: Esmarie Swanepoel     13th September 2017 Junior metals developer Platina Resources has reported a maiden ore reserve of 3.9-million tonnes at its Owendale scandium-cobalt project, in New South Wales. Grading at 550 parts per million (ppm) of scandium, 0.9% cobalt and 0.13% nickel, the project is estimated to host a reserve of 3 359 t... 

Archer finds copper in cobalt hunt

By: Esmarie Swanepoel     13th September 2017 The share price of ASX-listed Archer Exploration increased by nearly 22% on news of a copper discovery at Broken Hill, in New South Wales. Archer on Wednesday reported the discovery of two new large copper targets at the North Broken project, some 20 km north of Broken Hill, while hunting for... 

Newcrest targets full restart of Cadia East by March

By: Esmarie Swanepoel     13th September 2017 Gold miner Newcrest Mining has restarted production at Cadia East’s Panel Cave 1 (PC1), in New South Wales, with production rates at the mine expected to be fully restored by the end of March next year. The ASX-listed miner on Wednesday said that the remediation and upgrade work required to... 

KGL raises cash for Jervois exploration

By: Esmarie Swanepoel     13th September 2017 ASX-listed KGL Resources is hoping to raise some A$12.4-million to accelerate exploration at the Jervois copper project, in the Northern Territory. The company will issue some 22.8-million new shares, priced at 30c each, to raise an initial A$6.9-million from a small group of sophisticated and... 

Evolution considering offers for Edna May

By: Esmarie Swanepoel     12th September 2017 Gold miner Evolution Mining said on Tuesday that it was evaluating the potential sale of its Edna May gold mine, in Western Australia, after receiving a “number of offers” from interested parties. The ASX-listed company reported that it was determining whether the potential sale of the Edna May... 

Work to start on WA lithium JV as Kidman and SQM finalise agreement

By: Esmarie Swanepoel     12th September 2017 ASX-listed Kidman Resources and lithium producer Sociedad Quimica y Minera de Chile SA (SQM) have finalised the joint venture (JV) agreement over the Mt Holland lithium project, in Western Australia. The transaction, first announced in July, will see SQM invest $110-million to acquire a 50%... 

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