Mining News
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Vast Resources plc has concluded an agreement that will see a US family office invest £5 million in the company to enable it to progress its Romanian projects. Vast has issued 156.25 million new share units (including 156.25 million warrants) at a price of GBp0.8 per share to the investor for the first tranche of […]
Randgold Resources has decided not to proceed with a proposed investment in a joint venture with AngloGold Ashanti to redevelop and operate AngloGold’s Obuasi gold mine, in Ghana. In terms of an agreement announced on 16 September, Randgold planned to undertake due diligence on the mine and the redevelopment plan that is the subject of […]
Following the news earlier this week that Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, the company has now raised £420,000 to advance the project through to the completion of a feasibility study by the end of the year. The company placed 14.0 million new shares at […]
The Oyu Tolgoi joint venture, in which Rio Tinto owns 34%, has signed a US$4.4 billion project financing agreement to develop the Oyu Tolgoi copper-gold underground mine, in Mongolia. The mine has been producing copper concentrates (with gold included) since 2013 from an open pit, which was developed at a cost of US$6.4 billion. All […]
Hummingbird Resources plc has declared a maiden reserve at its 85%-owned, Yanfolila gold project, in Mali. The reserve (100% basis) is 6.82 Mt at a grade of 3.03 g/t for 666 koz of gold contained, which represents a 20% increase from the in-pit resources in an optimisation study published in June this year. 100% of […]
Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, which has confirmed the proposed two-phase processing route to recover gold from the oxide ores initially, with a further second phase to treat the transition and fresh rock. Metallurgical testwork on two bulk samples of oxide ore has confirmed […]
Armadale Capital has updated metallurgical work at its 80%-owned Mpokoto project in the DRC’s Katanga Province, which has confirmed the proposed two-phase processing route to recover gold from the oxide ores initially, with a further second phase to treat the transition and fresh rock. Metallurgical testwork on two bulk samples of oxide ore has confirmed […]
Multi-commodity mining giant, Glencore, yesterday briefed investors on its preparedness for a lower price environment. The company has reduced 2015 capex from US$6 billion to US$5.7 billion, and expects to reduce 2016 capex to US$3.8 billion. For its main mineral products it expects low cost profiles of US$1.10/lb copper, US$0.33/lb zinc, US$2.95/lb nickel and US$39/t […]
Dalradian Resources has reported good infill drilling results from a programme designed to convert Inferred resources to Indicated at its 100%-owned Curraghinalt gold project, in Northern Ireland. Highlights include 2.53 m at a grade of 10.82 g/t gold from the Mullan vein; 2.01 m at a grade of 33.52 g/t gold from the Slap Shot […]
UK-based precious metal consultancy group, Metals Focus, reports that global gold mining total cash costs (TCC) have fallen to their lowest level since 2011 but despite this the basic producer margin (gold price less total cash cost) is at the lowest level since the Metals Focus series began in 2010. In the Q3 2015, TCC […]