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Mining Bulletin

The full story: In-depth news and analysis

JUBILEE METALS EXPANSION GENERATES EARLY PRODUCTION AND COST BENEFITS

Metals recovery specialist Jubilee begins to see significant results from a bold £39.5M expansion and optimisation program at its South African platinum group metals and chrome operations and Zambian copper and cobalt tailings projects.

STRIKE/COVID-19 IMPACTS FORCE ORVANA MINERALS Q1 NET LOSS

A Spanish transport strike and continuing Covid-19 have pushed gold/copper miner Orvana Minerals from a profit to Q1 22 $5.84M loss on gold equivalent output falling to 10,600oz from 15,920oz

HUDBAY MINS: Q1 22 $74M LOSS-TO-PROFIT TURNAROUND DESPITE OUTPUT FALLS

Q1 22 loss-to-$64M profit turnaround for miner Hudbay Mins, despite a string of problems sending all production down

$87M STREAM FUNDING PACKAGE ADVANCES ORION TOWARDS PRIESKA MINE DEVELOPMENT

Major funding and technology agreements deliver pivotal steps towards the development of Orion Minerals’ major development projects in South Africa’s Northern Cape province.

IAMGOLD: FROM LOSS TO Q1 22 PROFIT ON GOLD PRODN UP TO 174,000oz

IAMGOLD out of the blocks and running with Q1 22 gold production well up and profit where there used to be loss

BROADMEADOW CONTRACT ADVANCES BOWEN TOWARDS HIGH AMBITION

Indonesian-owned BUMA Australia expects to begin site work within two weeks after being awarded the coal mining services contract for Bowen Coking Coal’s planned second producing mine, the Broadmeadow East project in Queensland.

SSR MINING: BIG Q1 22 PROFIT SLIDE TO $76M

Lower SSR Mining Q1 22 production from its 4 global operations pushes profit down to $76M, the only positive performer being lead

LUNDIN MINING: IMPRESSIVE Q1 22 DESPITE PRODUCTION FALLS

Lundin Mining has a booming Q1 22 profit run up to $378M from Q1 21's $154M, but on global production down, with the exception of nickel

SANDFIRE RES: MATSA STEPS INTO THE Q3 22 SANDFIRE FRAY

A transformational Q3 22 sees the MATSA mine in Spain join Sandfire Resources to lift copper output, with gold set to fire as the expansion locks in

NEWMONT: Q1 22 PROFIT JUMP DESPITE GOLD FALL

Despite a substantial gold hit, global major Newmont has gone from Q4 21 loss to a Q1 22 $432M profit

‘LIVING WITH COVID’ DAMAGES OZ MINERALS IN Q1 PRODUCTION DOWNTURN

COVID impacts on workforce availability and the additional disruptions of a massive rainstorm that halted road access and supplies to its flagship mine have slowed March quarter production by Australian copper and gold miner OZ Minerals.

SOLGOLD: NEW REPORT FLAGS WORLD CLASS ECUADOR PROJ

New report flags a golden future for SolGold's Cascabel copper-gold-silver project in Ecuador, with the possibility of its LoM going out from an initial 26-years to 50-years

COVID IMPACTS ON NEW PROJECTS SLOW RIO TINTO’S Q1 IRON ORE PERFORMANCE

Rio Tinto chief executive Jakob Stausholm has re-emphasised the need to lift the global mining giant’s operational performance after a challenging first quarter of FY2022 that saw lower production of iron ore, aluminium and copper.

MAGNETITE RESOURCE ADDITION BOOSTS CASTILE’S ROVER 1 TENNANT CREEK PROJECT

Australian explorer Castile Resources is advancing its strategy of extracting maximum value of each tonne of ore mined with the addition of a new 933,000t magnetite resource at its polymetallic Rover 1 project in the NT.

BLACK CAT OUTLINES 24-MONTH PATH TO FIRST MINING AT FORMER NORTHERN STAR MINES

Black Cat Syndicate’s ambitions to become a mid-tier Western Australian gold producer rest on a four-year schedule for development and mining its portfolio of three high-grade mines in the state’s Eastern Goldfields, Eastern Pilbara and Tanami regions. John Feary reports

SYRAH RESOURCES WINS $107M GOVERNMENT FUNDING PROMISE FOR US BATTERY METAL PLANT

US agency offers $107M loan funding under Biden critical minerals strategy to back lithium miner-processor Syrah Resources’ vertically integrated battery metal facility in Louisiana.

KENMARE SEES A BRIGHTER OUTLOOK AFTER WEATHER BLIGHTS ITS Q1 MOMA PERFORMANCE

Poor weather through the March quarter has limited production and shipping volumes at Kenmare Resources’ Moma titanium minerals mine in Mozambique, but the world-leading mineral sands producer is confident better weather will keep it on track through FY2022.

SHEFFIELD-YANSTEEL TARGET 2024 PRODUCTION AFTER $160M NAIF LOAN FOR THUNDERBIRD

Confirmation of up to $160M in financial assistance from the Northern Australia Infrastructure Facility supports plans by Sheffield Resources and 50-50 joint venture partner Yansteel to finalise project funding in the September quarter for development of the Thunderbird mineral sands project on WA’s Dampier Peninsula. John Feary reports

ROBUST BFS SETS MC MINING FOR EARLY START ON MAKHADO COAL PROJECT

South African coal producer MC Mining is targeting the finalisation of financing arrangements and start of construction in 2022 based on a positive BFS for its 68%-owned Makhado hard coking and export-quality thermal coal mine.

NORTHERN STAR RES: BLACK CAT BUYS WA GOLD PROJECTS FOR $44.5M

Northern Star sells its Paulsens Gold Operation and Western Tanami Gold Project, both in Western Australia, to the Black Cat Syndicate for $44.5M in cash/scrip

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HORIZONTE MINERALS: COPA NAMED FOR ARAGUAIA EARTHWORKS

 

Brasilia, May 11

The award of the bulk earthworks contract to leading Brazilian mining and civil contractor Copa Construção is an important step in the construction of Horizonte Minerals' 100%-owned Araguaia ferronickel project in Para state.
The contract covers site preparation for key process plant and supporting infrastructure, drainage, main ramp and crusher platform ready for civil construction to begin on the $US443M development.
Horizonte CEO Jeremy Martin says it’s another important milestone in the 24-month construction timeline, with next steps being the award of the civil works, 230kV powerline and electromechanical construction contracts.

Horizonte Minerals Plc

Exchange Code: 
AIM:HZM, TSX:HZM
Website: 
http://horizonteminerals.com

London-based nickel development company focused on projects in the Carajas mineral district of northern Brazil

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