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Denison buys out Cameco in Wheeler River JV

By: Mariaan Webb     5th September 2018 Uranium explorer and developer Denison Mines has increased its interest in the Wheeler River uranium project to 90% buy buying out Cameco Corp’s minority interest in the undeveloped high-grade project in the eastern Athabasca basin. Denison will acquire Cameco’s interest in the joint venture... 

Phoenix Global Mining seeks New York funds after London disappoints

By: Reuters     29th August 2018 Phoenix Global Mining, which is reopening a US copper mine abandoned during World War II when its workforce left to fight, plans to list in New York in September after a disappointing launch on London's AIM market. The London market is dominated by institutional investors and junior miners... 

Denison to showcase Canada uranium project with release of PFS next month

By: Mariaan Webb     10th August 2018 Canada-based Denison Mines is gearing up for the release of a prefeasibility study (PFS) focusing on largest undeveloped high-grade uranium project in the eastern Athabasca basin. Following two years of exploration and project development work, the PFS for the Wheeler River project will be... 

Rising profits meet trade fears as commodity producers report

By: Bloomberg     24th July 2018 Investors will probably like most of what they see when energy, mining and farm-products companies report earnings for the most recent quarter. It’s the rest of the year they’re worried about. Commodity bellwethers including Exxon Mobil, Freeport-McMoRan, and Archer-Daniels-Midland are among a... 

Newmont’s $69m Northwest Exodus expansion project complete

By: Simone Liedtke     17th July 2018 US gold miner Newmont Mining has completed a $69-million expansion at its Exodus operation, adding ten more years of operations to the underground mine at the integrated Carlin mining operation in Nevada. The Northwest Exodus project was completed ahead of schedule and within budget, Newmont... 

Indonesia reaches preliminary deal with Freeport on Grasberg

By: Bloomberg     12th July 2018 Indonesia has struck an “initial agreement” to take majority ownership of Freeport-McMoRan’s giant Grasberg copper and gold mine, President Joko Widodo told reporters in Jakarta on Thursday. State-owned PT Indonesia Asahan Aluminium, also known as Inalum, will end up with a 51% stake,... 

Trump started the metals rally, now he's the reason it's ending

By: Bloomberg     11th July 2018 The US election of Donald Trump lit a fire under metals markets in 2016 as investors took a liking to his pro-business agenda. Now, copper and other metals are tanking as Trump’s trade war against China threatens to derail economic growth. Copper sunk to an almost one-year low and has fallen 16%... 

Indonesia extends permit for giant Freeport copper mine as talks continue

By: Reuters     4th July 2018 Indonesia has extended a temporary operating permit for Freeport McMoRan's Grasberg project, the world's second-biggest copper mine, until the end of the month while discussions continue over long-term rights. Freeport's local unit, PT Freeport Indonesia (PTFI), has been given a temporary... 

Newmont Declares Commercial Production at Twin Creeks Underground in Nevada

3rd July 2018 Newmont Mining Corporation (Newmont or the Company) has achieved commercial production at its Twin Creeks Underground expansion project, adding higher-grade, lower-cost gold production at its Twin Creeks operation in Nevada. The project was completed on schedule for $42 million, slightly below... 

Big metal is conspicuously tight-lipped on US-China rift

By: Bloomberg     16th June 2018 If mining companies are as bothered by Trump’s tariffs as investors appear to be, they’re not saying. A full-out trade war between the US and China could negatively affect the metals and mining sector in several ways. China could respond to Friday’s US tariffs by cutting imports of raw... 

Phoenix raises funds for Idaho copper mine BFS

By: Creamer Media Reporter      29th May 2018 Aim-quoted, North American-focused Phoenix Global Mining on Tuesday announced that it would raise £3-million to further advance the historically producing Empire mine in Idaho, in the US. Phoenix would deploy the proceeds of the raising to build on the April 2018 preliminary economic assessment... 

Kirkland Lake looks towards Australian Union Reefs revival; visible gold near Fosterville

By: Henry Lazenby     1st May 2018 Triple-listed Canadian miner Kirkland Lake Gold has reported strong drill results from the Union Reefs project, located in Australia’s Northern Territory, the company announced on Monday. Four holes for 4 287 m were drilled from surface to test the potential of the Prospect, Crosscourse and the... 

Freeport stock tanks on disappointing Q1 earnings, Indonesia fears

By: Henry Lazenby     25th April 2018 US diversified miner Freeport McMoRan’s (FCX’s) NYSE-listed stock lost as much as 17% on Tuesday following disappointing first-quarter financial results and a lowered copper production outlook. Phoenix, Arizona-based Freeport’s president and CEO Richard Adkerson expressed shock and disappointment... 

Denison outlines more high-grade mineralisation at Gryphon

By: Henry Lazenby     19th April 2018 Uranium explorer and development company Denison Mines has discovered more high-grade uranium ore 600 m and 1 km to the northeast of the Gryphon uranium deposit, on the company’s 63.3%-owned Wheeler River project, in northern Saskatchewan, the company reported on Wednesday. With the 21 153 m... 

US uranium mining industry seeks court review to overturn mining ban

6th April 2018 US mining industry trade groups have asked the US Supreme Court to review the executive department of the Interior Department’s 20-year ban on new uranium mining claims on one million acres of public land adjacent to the Grand Canyon. The Interior Department is responsible for the management and... 

Athabasca exploration juniors reveal voluminous resource increases

By: Henry Lazenby     20th February 2018 Junior explorer Fission Uranium has reported an increase of about 30% in the total compliant indicated and inferred resources at its flagship Triple R deposit, in North-Western Saskatcewan. The Kelowna, British Columbia-based company on Tuesday said the resource estimate for the Triple R deposit... 

Rio Tinto exercises option over Saskatchewan uranium assets

By: Creamer Media Reporter      14th February 2018 Diversified mining major Rio Tinto has agreed to make a final cash payment of C$1-million to TSX-V-listed junior Pistol Bay to gain the remaining 25% interest in uranium properties in the Athabasca basin of Saskatchewan. The C block of uranium properties is under option to Rio Tinto, which has... 

Freeport-McMoRan reinstates quarterly dividend

By: Henry Lazenby     7th February 2018 The world's largest publicly listed copper producer Freeport-McMoRan has reinstated a cash dividend of $0.05 on its common stock, citing an improved balance sheet, stronger market conditions and a positive outlook for cash flow generation. That would add up to a yearly dividend of $0.20 a share,... 

Phoenix acquisition bolsters Sylvania’s December quarter output

By: Natasha Odendaal     30th January 2018 Aim-listed Sylvania Platinum’s Sylvania dump operations (SDO) achieved a 4% increase in production to 17 302 oz of platinum, palladium, rhodium and gold (4E) platinum group metals (PGMs)  during the quarter ended December 31. This followed the acquisition and integration of Phoenix Platinum... 

Rio Tinto talks loom as a lifeline for Freeport in Indonesia

By: Bloomberg     26th January 2018 When it comes to finally reaching a deal to secure Freeport-McMoRan’s long-term right to keep mining in Indonesia, the ball appears to be firmly in Rio Tinto Group’s court. Over an almost two-hour conference call Thursday, CEO Richard Adkerson made it clear that the company’s efforts to get a... 

Freeport rises on Q4 earnings beat

By: Henry Lazenby     25th January 2018 The world's largest publicly listed copper producer Freeport-McMoRan has reported a better-than-expected headline profit for the three months ended December, as its focus on productivity, cost and capital discipline dovetailed with an improved market for copper. The Phoenix, Arizona-based miner... 

New shaft key to transforming Kirkland Lake into 1Moz/y producer

By: Mariaan Webb     18th January 2018 Gold miner Kirkland Lake has set its sights on producing one-million ounces a year in the next five to seven years, a target which is built on transforming the Fosterville and Macassa mines into 400 000 oz/y producers. At Fosterville, in Australia’s Victoria, Kirkland Lake is aiming to achieve... 

Phoenix Global embarks on ambitious plan to restart Empire copper mine, Idaho

By: Henry Lazenby     8th November 2017 Aim-listed copper junior Phoenix Global Mining has formulated an ambitious growth strategy to restart mining at the brownfields Empire copper mine, in Idaho, by 2020. The company made its debut on the LSE's Aim market late in June, with the aim of bringing the historic mine back into production,... 

Sylvania dump production down 8% in Q1

By: Ilan Solomons     30th October 2017 Platinum group metals (PGMs) processor Sylvania Platinum’s Sylvania Dump Operations (SDO) produced 16 589 oz of PGMs in the quarter to September 30 – an 8% decrease on the previous quarter's output of 17 954 oz. Commenting on the results on Monday, Sylvania CEO Terry McConnachie said the decrease... 

Freeport trades lower on earnings miss as production falls

By: Henry Lazenby     25th October 2017 The NYSE-listed equity of the world’s second-largest publicly traded copper miner by market capitalisation traded as much as 3.87% lower on Wednesday, despite confidently beating earnings forecasts as lower-than-expected output weighed on investor sentiment. For the three months ended September... 

Pan African rolling out vibrant internal growth projects 

By: Martin Creamer     21st September 2017 Midtier gold mining company Pan African is rolling out vibrant internal growth projects involving the revival of Evander Mines’ 7 Shaft and the alleviation of congestion at Barberton Mines’ Fairview operation, which will provide the flexibility needed to better exploit what is arguably the... 

Pan African poised for growth, proposes R185m final dividend

By: Martin Creamer     20th September 2017 Precious metals mining company Pan African, which on Wednesday proposed a R185-million final dividend, reports that it is poised for growth as remedial action regarding its operational challenges in the 12 months to June 30 delivers expected results. The London- and Johannesburg-listed company,... 

World's richest mines slipping from hands of multinationals

By: Bloomberg     5th September 2017 Outnumbered and outflanked, Freeport-McMoRan CEO Richard Adkerson made an about-face. Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials... 

Denison hits high-grade unconformity uranium mineralisation at Gryphon

By: Henry Lazenby     30th August 2017 Uranium explorer Denison Mines has for the first time found unconformity uranium mineralisation at its Gryphon deposit, on the 60%-owned Wheeler River project, in the Athabasca Basin region of northern Saskatchewan. TSX- and NYSE MKT-listed Denison said on Wednesday drill hole WR-689D3... 

Freeport stock slides on Indonesian Grasberg copper/gold mine divestment plan

By: Henry Lazenby     29th August 2017 The world’s largest publicly traded copper miner Freeport-McMoRan (FCX) has agreed, in principle, to divest its flagship asset, giving Indonesia a 51% stake of the massive Grasberg copper/gold mine. The Phoenix, Arizona-based miner's announcement sent the company’s NYSE-listed stock falling... 

Sylvania lifts FY profit amid another year of record production

By: Creamer Media Reporter      21st August 2017 Platinum group metals (PGMs) processor Sylvania Platinum has posted a net profit of $8.87-million for the year ended June 30, compared with a profit of $3.73-million in the 2016 financial year. The company’s Sylvania Dump Operations (SDO) had achieved a fourth consecutive year of record... 

Freeport-McMoRan redeems five series of senior notes

By: Henry Lazenby     18th August 2017 The world’s largest publicly traded copper producer Freeport-McMoRan (FCX) has redeemed five series of senior notes with a total value of $543-million. The Phoenix, Arizona-headquartered company advised that it had issued notices to redeem on September 18, with two series of FCX senior notes and... 

Pan African warns of lower FY earnings

By: Creamer Media Reporter      18th August 2017 JSE- and Aim-listed Pan African Gold expects to report earnings per share (EPS) of between 18.3c and 21.32c in the year ended June 30. This represents a 29% to 39% decrease on the EPS of 30.2c reported in the prior financial year. 

Sylvania achieves record FY17 PGM output

By: Natasha Odendaal     31st July 2017 Aim-listed Sylvania Platinum has achieved a new yearly production record after another strong quarter pushed output from the Sylvania Dump Operations (SDO) beyond the upper end of the revised 65 000 oz guidance for 2017 to 70 869 oz. The low-cost platinum-group metal (PGM) processor and developer... 

Pan African sharpens gold focus as Sylvania buys Phoenix for R89m

By: Martin Creamer     31st July 2017 Gold-focused mining company Pan African has successfully concluded a conditional agreement with Sylvania Platinum for the disposal of all of its shares and loan accounts in its wholly-owned subsidiary Phoenix Platinum to Sylvania for R89-million cash. The disposal of Phoenix, which for some time... 

Newmont stock jumps as output rises and costs fall

By: Henry Lazenby     26th July 2017 US gold major Newmont Mining's operations across its portfolio outperformed for the three months ended June, pushing the company's NYSE-listed stock up by 8% on Tuesday. The Denver, Colorado-based miner has comfortably beaten analysts' earnings forecasts of $0.26 a share, posting an adjusted net... 

Canadian Nuclear Safety Commission OKs another ten years of McCLean Lake mill ops

By: Henry Lazenby     6th July 2017 A uranium mill processing high-grade uranium ore from Saskatchewan’s Athabasca basin has been granted a new ten-year licence to operate. The McClean Lake mill is one of the most technologically advanced uranium mills in operation and is the only facility in the world designed to process... 

Electra Mining Botswana attracting top names and industry support

26th June 2017 Leading local and international suppliers to the mining, industrial and power generation sectors have embraced the business growth opportunity that Electra Mining Botswana presents in the region. Komatsu Botswana, Atlas Copco Botswana, Hansen & Genwest, Cummins SA, Phoenix Contact, Worley Parsons... 

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