Mining News
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Tharisa Minerals (THS.L) Modifications to Voyager’s Plant chrome processing circuit in H1 FY2016 to facilitate increased production of higher value speciality grade chrome concentrates, enables Tharisa to distribute to more globally diversified markets. The average PGM basket price for quarter ended September was US$804 oz, which was US$59 an ounce higher than previous quarter. Metallurgical grade […]
Central Asia Mines has reported record quarterly copper production and sales at its Kounrad operation for the third quarter ended 30 September 2016. Kounrad produced 4,102t of copper cathode, a 38% increase on the corresponding period of 2015, including a record monthly production of 1,503t in August. Year-to-date copper production was 11,010t, a 31% increase […]
Caledonia Mining Corporation produced 13,430oz of gold from its Blanket mine in Q3 2016, a 23% increase on the corresponding quarter of 2015. Production was also up over 7% from Q2 2106. The increases come from greater ore mined at higher grade from the deeper levels of the mine, below 750m, utilising the recently-completed No […]
Gemfields, the AIM-listed emerald, ruby and sapphire producer, has reported profits for the financial year ended 30 June 2016 up 91%, to US$23.5m, from the previous year. EPS doubled to US$0.02. Revenue increased by 13%, to US$193.1m. The biggest increase came from emerald sales, rising from US$64.9m in FY2015, to US$101.2m in FY2016 with record […]
Zinc is zooming – it is up 55% since hitting a 6 year low mid-January. Prices have risen around 3% on the LME since Monday. The closing of 4 major zinc mines since 2013 has reduced supply by over 1 million tons. Glencore cut H1 2016 production by 31% to help shore up prices. Beijing […]
Baker Steel Resources Trust has announced that it has acquired a further 5.4% interest in Norwegian Copper company, Nussir ASA (Nussir), to add to the 9.8% of Nussir it already holds, for a consideration of £625k. The company says that the consideration has been satisfied through the issue to the vendors of 1,561,822 new ordinary […]
Sirius Minerals’ ambitions to build the world’s largest polyhalite mine in North Yorkshire, UK moves forward with a non-binding agreement for a US$2.6 billion debt facility for ‘Stage 2’ of mine development with six financial institutions; closing expected to take place in 2018. The agreement is subject to due diligence and securing US$ 1.09 […]
Dalradian Resources has tested part of its resource base at its 100%-owned Curraghinalt gold project, in Northern Ireland and estimates that the grade could be significantly higher than that in the May 2016 resource statement. The resource estimation released in the May 2016 and conducted by independent consultants SRK, used standard geostatistical estimation methods, […]
Copper under pressure – LME copper stockpiles have hit a 10 month high, most likely due to excess supply moving out of china and into warehouses; Commerzbank said in a report. Hedge funds moved to a net short position for the week of Aug. 23 of 4991 futures and options contracts, according to the US CFTC weekly […]
Anglo American plc has completed the sale of its 70% interest in the Foxleigh metallurgical coal mine in Queensland, Australia to a consortium led by Taurus Fund Management. The parties have not disclosed the terms of the sale. Foxleigh is an open cut coal operation which produces high quality pulverised coal injection (PCI) coal, located […]