Mining News
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Amara Mining has increased M&I gold resources at its Yaoure project, in Côte d’Ivoire, by 17% (739 koz) to 5.2 Moz at a 19% higher grade of 1.54 g/t gold (using a cut-off of 0.5 g/t). Furthermore the company has increased the confidence in resources at the project by increasing the percentage of M&I resources […]
Central Asia Metals plc has received regulatory approvals to exploit the Western dumps at its Kounrad SX-EW copper recovery operation, in Kazakhstan. The company currently extracts copper from the Eastern dumps and earlier this year expanded the plant to a capacity of 15,000 t/y of copper cathode. As the Eastern dumps become exhausted, the company […]
Shareholders in Lonmin plc, have approved a financial restructuring to enable the platinum miner to weather the low PGM price environment. Lonmin said about 88% of its shareholders approved the US$400 million rights issue at a meeting in London yesterday. The share issue was deeply discounted – at just GBp1/share, a 94% discount to the […]
The World Gold Council (“WGC”) reported some good news for gold this morning in its quarterly “Gold Demand Trends” publication for Q3 2015. Gold demand climbed 8% to 1,121 t from Q3 2014 as demand for jewellery grew 6% year-on-year with lower prices during July and early August attracting consumers. The quarter under review was […]
Centamin has reported EPS of USc0.55 for Q3 15, down significantly from the USc1.39 posted in the corresponding quarter of 2014, and the EPS of USc2.50 in Q1 15 and USc1.65 in Q2 15. Despite a 13% increase in gold production in Q3, to 105 koz, and cash costs that were generally in line with […]
Stratex International plc’s 45%-owned Altintepe gold project, in Turkey, has poured its first gold. Under Stage 1 of the operation, which focuses on exploitation of the Camlik East zone, the mine is expected to deliver a minimum of 30 koz/y of gold over 34 months for a total of 110 koz of gold. Bahar will […]
Randgold Resources reported earnings of US$0.45/share in Q3 15, against EPS of US$0.63 in the corresponding quarter of 2014, despite record gold production of 305 koz. Attributable income fell 10% as the gold price received fell from US$1,277/oz to US$1,122/oz. Cash costs were marginally higher at US$699/oz. For the first nine months of 2015, the […]
Lonmin plc has guided that it will more than halve its asset value and take an impairment charge of between US$1.85-2.05 billion when it releases it results for the financial year ended 30 September 2015, on 9 November. This follows the company’s adoption of a new business plan and financial restructuring that concentrates on lower […]
Aureus Mining Inc has recommenced operations at its New Liberty gold mine, in Liberia, after the failure of the secondary crusher in mid-October, which has now been repaired. Meanwhile, the company has installed a temporary 200 t/hr mobile crushing unit, which enabled crushing and processing to recommence at the end of October. The company will […]
According to its latest quarter report, after spending almost A$12 million in the September quarter in commissioning its Drakelands open pit mine at the Hemerdon tungsten/tin project, in Devon, Wolf Minerals reports that it has fully drawn down the £75 million senior debt finance. Drakelands is the first new metal mine to be built in the […]