Mining News
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Sirius Minerals Plc has increased reserves at its North Yorkshire polyhalite project by 12% following the completion of a Definitive Feasibility Study earlier this year. The probable reserve now stands at 280.2 Mt at an average grade of 88.4% for 247.7 Mt of polyhalite contained as a result of the inclusion of mineralisation previously reported […]
Randgold Resources has reported profits up 19% over the December 2105 quarter and 25% compared with Q1 2015. Earnings per share rose from US$0.52 in Q1 2015 to US$0.58. Revenue from gold sales, at US$345.8 million, was slightly up on the corresponding quarter of 2015, as gold production increased by 4% to 292.9 koz and […]
Wolf Minerals treated 310,949 t of ore during the March quarter at its Drakelands open-pit mine and produced 17,607 metric tonne units (mtu) of tungsten concentrate. Revenue from sales of concentrates was A$3.8 million (£1.9 million). The total cash expenditure for the quarter was A$16.8 million (£8.2 million), including A$3.9 million (£1.9 million) on development, […]
Randgold Resources’ 89%-owned Tongon gold mine, in Côte d’Ivoire, has commissioned its fourth-stage crushing circuit, completing an extensive capital project designed to improve throughput and recovery. The new circuit is currently being optimised. 2015 gold production at Tongon was 243 koz, up 7% on 2014, and the company is targeting production of 290 koz this […]
Wolf Minerals shareholders have approved the establishment of a standby equity facility of up to £25 million with Resource Capital Fund (RCF). The company announced the agreement with its major shareholder, which holds an interest of almost 42%, in January this year. The facility will enable Wolf to strengthen its balance sheet during the ramp-up […]
London consultancy, Metals Focus, reports that in Q4 15 gold mining total cash costs (TCC) averaged US$631/oz, a decline of 1% on the prior quarter and 7% y-o-y and the lowest level since mid-2011. The weakening of many producers’ currencies (relative to the dollar) helped lower key mine site input costs, such as labour and […]
Randgold Resources has reported attributable gold reserves at the end of 2015 of 14.6 Moz, a 3.5% reduction after depletion from the previous year. The average grade of reserves remained at 3.6 g/t using a gold price of US$1,000/oz. The largest reserve base is at Kibali, (45%-owned) in DRC, where reserves were 4.7 Moz of […]
Dalradian Resources has completed Infill drilling at its 100%-owned Curraghinalt gold project, in Northern Ireland and expects to release an updated resource estimate by the end of April. The infill drilling programme comprised 51,479 m in 181 holes and was planned to convert Inferred resources to Measured and Indicated in support of a feasibility study, […]
Wolf Minerals has reported its first financial results since commissioning the Drakelands tungsten/tin mine in September 2015. The company recorded a loss for the six months to 31 December 2015 of A$24.2 million (approximately £12.8 million), equivalent to 1.6 pence per share. The mining operation and processing plant are still ramping up to full production, […]
Aureus Mining has declared commercial production at its New Liberty gold mine, in Liberia, seven months after official opening of the mine in August 2015. Gold production in February was over 9,000 oz as the plant finally operated at 88% of design throughput capacity and recovery levels exceeded 90% The company continues to work towards […]