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Mining Bulletins

The full story: In-depth news and analysis

Lucara Diamond Corp has cut FY17 diamond production after reduced Q2 17 output from its Botswana operation halved H1 17 net income to $30.6M.

Despite lower gold/silver production yielding a Q2 17 $1.7M loss, America’s miner McEwen Mining is expecting steady FY/CY17 output of 144,000oz AuEq

Squeezed out of the Philippines by the anti-mining policies of President Rodrigo Duterre, miner Red 5 has outlaid $35M to acquire two projects with the aim of establishing a West Australian mining and processing hub. John Feary reports

With H1 17 production steady for a big net earnings jump to $167.7M, Kinross Gold is treading a profitable path to 2.5Moz-2.7Moz AuEq in FY/CY 2017

Terramin has done another J/V deal on another of its S Australian projects – $6M exploration for up to 75% of its Kapunda copper operation. By Mark Mentiplay

Corruption charged major Braziian engineer Odebrecht has sold its 16.4% stake in a big Angolan diamond mine for an estimated $300m in pursuit of its £2.9B asset sale goal.

Investment group Ibaera has signed to outlay up to $19M, primarily for a near 50% stake in Azumah’s advanced Ghana gold project

Ramping San Julian and Fresnillo mines underpin a cashed-up Fresnillo lifting H1 17 profit 87.2% to $310M

Despite easing gold production and increased costs, Alacer Gold has more than doubled Q2 17 net profit to $23M

The expansion study for Millennium’s W Australian gold operation has come up with a new production line to lift production and prolong mine life. By Mark Mentiplay

Beadell Resources is maintaining FY2017 gold production guidance at 140,000oz despite its first half output dipping to just over 52,000oz.

Financially impaired Weatherly Int’l secures another $10M as Q2 17 copper production limps upwards, but FY17 falls

A ramping San Julian project and revival of its namesake mine have fuelled an improved Q2 17 putting Fresnillo on track for top end FY/CY17 61Moz silver and 900,000oz gold

1st half 2017 bad weather has cut Millennium Minerals’ FY2017 gold expectations, with costs flagged to rise as new mining strategy pursued

Mill and production records see Detour Gold nicely on track for FY/CY17 550,000oz-600,000oz

Major gold miner Goldcorp is still targeting 2.5Moz in FY/CY17, despite an easing in Q2 17 production

Lower silver and gold production from its 5 mines has seen Coeur Mining plunge $30M from a Q1 17 profit to an $11M loss in Q2 17.

A $230M sales jump and $1.13B asset sale has seen global miner Lundin Mining turn a previous $803M loss into an H1 17 $191.5M profit

Fortescue Metals Group is targeting a further 5% improvement after pushing C1 cash costs on its Pilbara iron ore exports to a new low of $US12.16/wmt in the June quarter. John Feary reports

Despite falls in FY17 gold-zinc-nickel production from its WA operations, Independence Group has posted a $76M turnaround to profit.

Independence Group has outlined plans to extend the life and enhance the productivity of its Jaguar zinc-copper-silver-gold project in Western Australia after the definition of maiden resources and reserves for the Triumph deposit just 6km from its existing processing plant.

Better nickel prices see Australia’s highest grade, lowest cost producer cashed up to $140M+ despite FY17 production/sales fall.

OZ Minerals relies on increasing underground production in the second half to achieve its full year guidance for the Prominent Hill copper and gold mine in South Australia.

Newcrest faces another quarter of below-par output after the Cadia East seismic event that cut gold production and raised costs in FY18.

Acacia Mining sets end-September deadline to suspend operations at its Bulyanhulu gold mine if it cannot convince the Tanzanian government to lift the export ban on its gold-copper concentrate.

The rapid growth of production from its S11D mining expansion is enabling Vale to push forward its global marketability and profitability strategies.

Despite the Tanzanian concentrate export ban taking big chunks out of Acacia Mining’s cash, it has produced an H1 record 428,299oz of gold in H1 17

A steady 135,000oz gold FY17 for an expansive Silver Lake Resources has it shooting for up to 145,000oz in FY18. By Mark Mentiplay

A strike by workers belonging to 56 mining unions across Peru have gone on strike over proposed labor reforms to little initial affect.

BHP is predicting a strong rebound in the coming year from its copper business, the poorest performer in a strong year of production and productivity gains that saw it achieve record output from its Pilbara iron ore operations in Western Australia.


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