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Mining Bulletins

The full story: In-depth news and analysis

Big H1 17 profit, prodn, revenue jumps sees Russian gold miner Petropavlovsk on track for a top-end 460,000oz in FY17

The reported allegations being levelled by the Tanzanian government against the country's only important diamond producer bear many similarities to the campaign it launched earlier this year against its largest gold producer, Acacia Mining.

Tahoe Resources can avoid an extended and highly damaging shutdown of its flagship Escobal silver mine in eastern Guatemala after a Supreme Court ruling.

FS sees more gold and lower costs from Brio Gold’s refurbished Santa Luz project in Brazil, with 10-year LoM production up to 1.06M. By MBM’s North American correspondent

A new PEA sees McEwen Mining’s Argentine copper mine producing 12Blbs+ copper and 1.3Moz gold over 36-years beginning in 2022. By MBM’s North American correspondent

West Australian mines minister Bill Johnston has performed the official opening of the Nova nickel-copper-cobalt mine, Independence Group's contender to be the lowest-cost nickel producer in the country.

London-listed Petra Diamonds is the latest victim of Tanzania’s crack down on its mining sector

Positive FS flags Q2 18 start for major construction of Teranga’s 120,000oz pa Banforo Gold Project in Burkina Faso. By MBM’s North American correspondent

Doubling copper production from its new Spanish operation, trebling revenues and cutting costs has seen Atalaya post a €10.9M H1 17 net profit

New West Australian Goldfields producer Empire Resources will team up with Poseidon Nickel to examine a third processing option for gold ore from its Penny's Find mine.

Global miner AngloGold Ashanti is maintaining its backing of Orinoco Gold and its Brazilian operations with another $4M, lifting its stake in the company to $18.1%

Acacia’s flagship Tanzanian mine FY/CY17 gold production is expected to fall 100,000oz following partial shut-down and lay-offs following conc export bans

Troy Resources is banking on a change of strategy to bulk ore mining to extend the minelife and importance of its troubled Karouni gold mine in Guyana.

Doubling H1 17 gold production to 7,327oz and with all the major production parameters up, Altyn’s FY/CY17 40,000oz estimate seems unlikely

Lower ore mined, lower gold production from its Philippines mine at higher costs and $71M in impairments sees Medusa Mining turnaround from profit to $62M FY17 loss.

Despite having its prime Chatree Gold Mine asset shut down by the Thai govt for nearly 9-months now, Aussie owner Kingsgate Cons has managed a big loss-to-FY17 profit jump to $7M.

Perseus Mining is forecasting a better FY18 with a new project lifting production after a FY17 loss up 114% to $76M, despite increased production, lower costs and increased revenue. By Mark Mentiplay

Increased gold production/sales has failed to offset 28% cash cost increases, cutting Russian gold major Polymetal’s profit 27% to $120M

Australian iron ore junior Atlas has demonstrated its ability to generate strong cash flow and profit in a volatile price environment with a $197M turnaround in FY17, but it faces more hurdles in the coming year. John Feary reports

Poseidon Nickel has made a further step towards its aim of establishing a central gold processing hub at its Black Swan plant in the Kalgoorlie region after signing a non-binding pact with Northern Star. John Feary reports

Increased costs/taxes have offset gold production and revenue increases cutting gold miner Ramelius Resources’ bottom line 36% to $17.7M

Mining contractor Macmahon insists it is close to restoring profitability after losses amounting to $29M on its mining contract at Newcrest's Telfer project dragged it to a $5.5M loss for FY17. John Feary reports

Miner South32 is looking at more base metals and getting into lithium after lifting its underlying FY17 profit to $1.15B from $138M

Tasmanian iron ore mine problems cutting ore access has more than halved Grange Resource’s H1 17 net profit to $14.3M

OZ Minerals makes a significant step towards realising its strategy of becoming a multi asset miner with board approval for the $916M development of the Carrapateena copper-gold mine in South Australia.

Gold miner Silver Lake’s FY17 profit halved, despite increased production, with new projects flagging higher production in FY19-FY20.

Australian low-cost nickel producer Western Areas looks towards growth options after turnaround to $19M full year profit. John Feary reports

Latest drilling has lifted gold resources at the Filo mine on the Chile-Argentine border to 6.5Moz, copper to 4.2Blbs copper and silver to 170Moz open pittable

Top-5 Caterpillar mining equipment dealer, WestTrac, is selling its Chinese mining machinery division to Chinese major for $540M

BHP forecasts more productivity gains in the coming years on top of its return to $6B attributable profit in FY17.

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