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A strong return to profitability due to higher revenue from renegotiated off-take agreements and the impacts of efficiency improvements at its Forrestania Nickel Complex has enabled West Australian nickel miner Western Areas to turn its focus towards growth.
Western Areas finished the year to end-June (FY17) with net profit after tax of $A19.3M, a turnaround from its loss of $29.8M in FY16. EBITDA leapt to $84.9M ($24.7M).
The result was achieved...
Filo Mining has lifted indicated resource tonnes at its 100% controlled Filo del Sol copper-gold-silver deposit on the Chile-Argentina border 61% containing 6.5Moz of gold, 4.2Blbs copper and 170Moz silver when including additional inferred resources.
President/CEO Wojtek Wodzicki says the increase came from less than 9,000m of new drilling that has also defined 4 distinct gold oxide, copper-gold oxide and silver zones amenable to heap...
Filo Mining has lifted indicated resource tonnes at its 100% controlled Filo del Sol copper-gold-silver deposit on the Chile-Argentina border 61% containing 6.5Moz of gold, 4.2Blbs copper and 170Moz silver when including additional inferred resources.
President/CEO Wojtek Wodzicki says the increase came from less than 9,000m of new drilling that has also defined 4 distinct gold oxide, copper-gold oxide and silver zones amenable to heap...
Australia's Seven Group is selling the Chinese mining machinery division of its WesTrac equipment and service business, WesTrac China, to Chinese company Lei Shing Hong Machinery for $A540M ($US428.3M).
Australian media/mining equipment company Seven Group CEO/MD Ryan Stokes says in his June 2017 year presentation the deal has been sanctioned by US-based equipment major Caterpillar, demonstrating CAT’s support for dealer consolidation....
Australia's Seven Group is selling the Chinese mining machinery division of its WesTrac equipment and service business, WesTrac China, to Chinese company Lei Shing Hong Machinery for $A540M ($US428.3M).
Australian media/mining equipment company Seven Group CEO/MD Ryan Stokes says in his June 2017 year presentation that the deal has been sanctioned by US-based equipment major Caterpillar, demonstrating CAT’s support for dealer...
The Jakarta High Court in Indonesia has given Kangaroo Resources some hope of progressing exploration at its Pakar coal project in East Kalimantan, rejecting a bid by local company PT Senyiur Sukses Pratama to claim rights to overlapping concessions in the area.
The legal dispute has prevented the provincial government from granting Australian-based Kangaroo "clear and clean status" over the project.
The court ruled SSP failed to lodge its legal suit within the allowed time, a...
A strong June 2017 half (H1 17) with copper production up, costs down and better copper prices, has seen big Chilean miner Antofagasta lift its after tax net profit to $US454.6, up 186.8% on H1 16 for an interim dividend up 232.3% to 10.3cps.
Group copper production rose 7.1% to 346,300t, due to increased production at Centinela and Antucoya, with net cash costs down 1.6% to $1.24/lb, reflecting lower cash costs before by-product...
Titanium minerals/zircon miner Kenmare Resources has notched a big turnaround $US9.4M after tax net profit for the June 2017 half (H1 17) from H1 16’s $47.1M loss on all production metrics from its Moma project in N Mozambique well up.
Revenues jumped 82% to $102.4M on increased prices/sales volumes, with cash operating costs down 14% to $131t for EBITDA up to $29.8M from H1 16’s negative $10.7M.
The result was on...
Global mining giant BHP is promising another $US2B in productivity gains over the coming two years after the combination of higher commodity prices, strong operational performance and focused capital allocation helped it post a $5.89B attributable profit for the year to end-June (FY17).
The result represents a $12B turnaround from its $6.39B loss a year ago, and comes despite exceptional losses of $842M relating to the costs of the Samarco dam disaster in Brazil,...