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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... 

Having hit potential ‘tail of the tiger’, reinvigorated Northern Superior gathers momentum 

By: Henry Lazenby     1st June 2017 Junior exploration company Northern Superior Resources is building on the strong momentum gained in recent months, making two new gold discoveries at its Croteau Est project, in Quebec, and gearing up for further exploration at its key assets. “It’s very exciting to get back to exploration... 

FCX stock rises on interim Indonesia export deal despite earnings miss

By: Henry Lazenby     26th April 2017 The NYSE-listed stock of US-based diversified miner Freeport-McMoRan (FCX) on Tuesday closed 7.11% higher despite the miner reporting earnings below analyst forecasts, as investors were pleased with the company reporting resumed copper concentrate exports from Indonesia following a three-month... 

Pan African CEO accuses union of ‘blatantly false’ safety statements 

By: Martin Creamer     22nd February 2017 The CEO of the London Aim- and Johannesburg-listed precious metals and coal mining company Pan African Resources on Wednesday accused the National Union of Mineworkers (NUM) of making statements that were “blatantly false” on safety practice at the Evander gold mine in Mpumalanga. “I will not say... 

Freeport stock dives on threatening Indonesian mine cuts, lower guidance

By: Henry Lazenby     26th January 2017 The NYSE-listed stock of US diversified miner Freeport-McMoRan (FCX) on Wednesday nosedived after the company threatened to reduce output and cut staff at its Grasberg mine, in Indonesia. The Phoenix, Arizona-based miner said that if it had not obtained approval to export concentrate by... 

DRC drops objection to $3.8bn Freeport, Lundin sales

By: Bloomberg     18th January 2017 The Congolese government has dropped objections to Freeport-McMoRan and Lundin Mining’s $3.8-billion combined sales of one of the country’s biggest mines to Chinese companies, bringing an end to an eight-month dispute. Minister of Mines Martin Kabwelulu said by text messages that he had written... 

Bathurst buys into more NZ coal

By: Esmarie Swanepoel     2nd November 2016 ASX-listed Bathurst and its joint venture (JV) partner Talleys Energy, through JV vehicle Phoenix Coal, have moved to acquire coal mining assets in New Zealand. Bathurst told shareholders on Wednesday that Phoenix had struck a deal with Solid Energy New Zealand to acquire the Buller Plateau... 

Freeport reports weaker Q3 results, lowers sales guidance

By: Henry Lazenby     25th October 2016 The world’s largest publicly traded copper producer Freeport-McMoRan on Tuesday announced third-quarter results weaker that analyst predictions, saying it now also expects to sell less copper, gold and molybdenum in 2016. Phoenix-based Freeport now expects to sell about 4.8-billion pounds of... 

Teck’s diversified business model poised to drive cash flow, profit as commodities rise

By: Henry Lazenby     27th September 2016 Canada’s largest diversified miner Teck Resources is positioned to benefit from rising commodity prices owing to its exposure to stronger steelmaking coal and zinc markets, as well as from the weaker Canadian dollar. VP of investor relations and strategic analysis Greg Waller told the Deutsche... 

Freeport investors in DRC limbo as Tenke mine sale drags on

By: Bloomberg     24th September 2016 Freeport-McMoran investors have been learning the difficulties of doing business in the Democratic Republic of Congo, where even trying to leave can be an exercise in frustration. On May 9, the world’s largest publicly traded copper producer announced it would sell its 56% stake in the Tenke... 

Pan African investigating R1.7bn gold tailings project 

By: Martin Creamer     21st September 2016 Gold mining company Pan African Resources is investigating a large gold tailings retreatment project at its Evander mines in Mpumalanga. Underwritten proposals have been received for the full financing package for the Elikhulu project, which will require an estimated capital expenditure of... 

$900m engineering, procurement contract for copper smelter awarded

     2nd September 2016 Engineering, procurement and construction management and consultation company Chiyoda Singapore, a subsidiary of integrated engineering company Chiyoda Corporation, has been awarded a $900-million offshore engineering and procurement contract for mining and processing company PT Freeport... 

Pan African expects H1 earnings to soar

By: Megan van Wyngaardt     2nd August 2016 Pan African Resources expects its earnings a share for the financial year ended June 30, to be between 157% and 177% higher than the 11.48c it reported for the previous financial year, owing to robust operational performances from its Mpumalanga-based mines. The gold miner expects headline... 

DRC's Gecamines plans Chinese joint venture at main asset

By: Bloomberg     16th June 2016 Gecamines, the Democratic Republic of Congo’s (DRC's) State-owned miner, is in talks to give China Nonferrous Metal Mining Group a majority stake in its most prospective copper asset. CNMC will finance, build and operate a copper-processing facility at the Deziwa concession in return for a 51%... 

Freeport withdraws oil and gas business IPO

By: Henry Lazenby     20th May 2016 Freeport-McMoRan Oil & Gas, a unit of US-based copper producer Freeport-McMoRan, has withdrawn its initial public offering (IPO) in the wake of a collapse of oil and gas prices that wreaked havoc on company valuations. Since the unit filed for an IPO with the US Securities and Exchange Commission... 

Geochemical mapping of KZN leads to discovery of new target zones

By: Ilan Solomons     8th April 2016 The Council for Geoscience (CGS) has carried out a semiregional geochemical survey of the Tugela Terrane, in KwaZulu-Natal, which has resulted in the delineation of several new target areas for follow-up studies and a few geological anomalies near to known mineral occurrences, which warrant... 

Denison reports strong returns on Wheeler River project at current prices

By: Henry Lazenby     6th April 2016 TSX- and NYSE MKT-listed Denison Mines has reported a strong pre-tax internal rate of return (IRR) of 20.4% at current uranium prices on its 60%-owned Wheeler River project, including a net present value (NPV) on a 100% basis of C$513-million, according to a preliminary economic assessment (PEA)... 

Maptek technology helps secure optimum mining outcomes

     22nd February 2016 All facets of mining increasingly rely on capturing and using quality data. Effective data management and analysis improves production and increases profitability. Mining technology specialist Maptek develops robust systems that apply mining data to more accurately design and model an operation.... 

Evolution board approves Edna May underground project

By: Mariaan Webb     18th February 2016 The board for Evolution Mining has given its approval for the Phase 1 development of the Edna May underground project, which is expected to materially improve production at the Western Australia-based mine. The midtier gold producer, which owns mines in Queensland, New South Wales and Western... 

Indonesia allows Freeport to resume copper exports for another six months

By: Reuters     10th February 2016 Indonesia on Wednesday granted Freeport-McMoRan a new six-month export permit for shipments from one of the world's largest copper mines, ending a near two-week stoppage due to a dispute over payment for a new metal smelter. The deal is a relief for both sides as a lengthy halt in exports would... 

Freeport asks Indonesia to cut or postpone $530m smelter bond – mining minister

By: Reuters     2nd February 2016 Freeport McMoRan Inc has asked Indonesia to reduce a $530-million smelter bond the local unit of the US copper mining giant must set aside before receiving an extension of its export permit, Indonesia's mining minister said on Tuesday. Freeport's 6-month copper concentrate export permit expired... 

ZEISS Launches MinSCAN Mine-site Automated Mineralogy Solution at SME Annual Conference & Expo 2016

     27th January 2016 ZEISS announces it will be launching the MinSCAN mine-site automated mineralogy solution at SME Annual Conference & Expo (ACE) 2016, which takes place February 21-24, 2016, at the Phoenix Convention Center, in Phoenix, Arizona. Also on display at Booth # 411 will be ZEISS Axio Imager.A2m... 

Evolution takes Phoenix board

By: Esmarie Swanepoel     18th December 2015 ASX-listed Evolution Mining’s executive chairperson and CFO have been appointed to the board of takeover target Phoenix Gold, after Evolution’s takeover of Phoenix breached the 90% acceptance point. Evolution earlier this week announced that it had gained a 90.03% shareholding in Phoenix,... 

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