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Newmont’s $69m Northwest Exodus expansion project complete

By: Simone Liedtke     17th July 2018 US gold miner Newmont Mining has completed a $69-million expansion at its Exodus operation, adding ten more years of operations to the underground mine at the integrated Carlin mining operation in Nevada. The Northwest Exodus project was completed ahead of schedule and within budget, Newmont... 

First Majestic production hits record, 2018 production guidance hiked

By: Simone Liedtke     17th July 2018 Total production from dual-listed First Majestic’s seven operating silver mines reached a new company record of 5.1-million ounces of silver equivalent in the second quarter, comprising 2.8-million ounces of silver, 25 449 oz of gold, 3.9-million pounds of lead and 1.4-million pounds of zinc. The... 

Equinox Gold sees California project as second cornerstone mine

By: Simone Liedtke     17th July 2018 TSX-V-listed Equinox Gold will significantly increase its future gold production if it develops its project in California, with output from the company’s two cornerstone mines – Castle Mountain, in the US, and Aurizona, in Brazil – estimated at almost 200 000 oz/y by 2020, increasing to 350 000... 

Mustang to focus on graphite/vanadium assets following gemstones deal

By: Esmarie Swanepoel     17th July 2018 The A$10-million merger of Mustang Resources’ ruby assets with that of TSX-V listed Fura Gems will allow the Australia-listed company to focus on its graphite/vanadium assets in Mozambique. Under the agreement, Fura will issue Mustang with A$10-million in shares over a 20-month period, giving... 

NT govt reveals fracking framework

By: Esmarie Swanepoel     17th July 2018 The Northern Territory government has unveiled plans to implement the recommendations from an independent scientific inquiry into unconventional hydraulic fracturing, in a bid to unlock reserves. “This is a plan to protect our environment, create local jobs and ensure the actions of government... 

Minotaur terminates Leinster deal

By: Esmarie Swanepoel     17th July 2018 ASX-listed Minotaur Exploration has terminated an April agreement to divest of its Leinster tenements, in Western Australia. Under the original agreement, Minotaur would have received A$1.55-million in a mixture of cash, shares and a milestone payment from the private investment firm acquiring... 

Saracen sets higher target for 2019

By: Esmarie Swanepoel     17th July 2018 Gold miner Saracen Mineral Holdings has a beaten its production expectations for the 2018 financial year, and set itself a higher target in 2019. Saracen on Tuesday reported record gold production of 316 453 oz during the full year ended June, which was above the 310 000 oz to 315 000 oz target... 

Laramide buys Rio tenements

By: Esmarie Swanepoel     17th July 2018 Dual listed uranium developer Laramide Resources will spend A$450 000 to purchase the Murphy uranium tenements, in the Northern Territory, from major Rio Tinto’s exploration arm. The purchase agreement replaces an existing farm-in and joint venture agreement between the two companies. 

Bacanora raises cash to start Sonora construction

By: Mariaan Webb     16th July 2018 London-listed Bacanora Lithium on Monday announced significant progress in the raising of the construction capital needed to build Stage 1 of its Sonara lithium project, in Mexico, announcing a conditional $90-million investment from blue chip investors and a $100-million placing of ordinary... 

New mining fund raising R750m to co-finance ancillary mine projects 

By: Martin Creamer     16th July 2018 In an economic environment of tight capital allocation and bank pull back from mining finance, the new tax-incentivised CCP 12J Mining Fund is going all out to raise R750-million for co-investment in ancillary project opportunities on existing mine sites. On the list of targeted project... 

McEwen’s operations on track to meet full-year guidance

By: Marleny Arnoldi     16th July 2018 Dual-listed precious metals producer McEwen Mining produced 36 959 oz of gold and 772 432 oz of silver, or 47 258 gold-equivalent ounces (GEOs), for the second quarter of this year.  

Kodal reports positive assay results from Mali projects

By: Anine Kilian     16th July 2018 Aim-listed Kodal Minerals has reported encouraging assay results from its Mali-based Boumou, Ngoualana and Sogola-Baoule prospect. The lithium mineral exploration and development company said in a project update on Monday that the Boumou prospect was continuing to develop, with northern zone... 

Panthera completes initial RC drilling at Burkina Faso project

By: Marleny Arnoldi     16th July 2018 Aim-listed gold exploration and development company Panthera Resources has completed 1.07 km of reverse circulation (RC) drilling over eight holes at its Naton project in southern Burkina Faso.  

Major Beadell shakeup targets $100m cost savings

By: Esmarie Swanepoel     16th July 2018 Gold miner Beadell Resources has implemented major management changes and cost reductions at its Tucano mine, in Brazil, that could save more than $100-million. CEO and MD Simon Jackson and COO Peter Holmes will step down from their current positions, with Dr Nicole Adshead-Bell taking over as... 

Symbol secures offtake and financing for Macy

By: Esmarie Swanepoel     16th July 2018 ASX-listed Symbol Mining has inked an offtake and marketing agreement with Noble Resources international for its Macy zinc project, in Nigeria. The offtake and marketing agreement also secured the final funding requirements for the development of the Macy project, with a short-term $3-million... 

MGX to earn into Belmont’s Nevada lithium property

By: Mariaan Webb     13th July 2018 Diversified miner MGX Minerals has entered into an option agreement to earn into the Kibby Basin lithium brine project, in the western portion of the Great basin in Nevada, the Canadian firm announced on Friday. MGX will acquire an initial 25% interest in Kibby Basin from TSX-V-listed Belmont... 

David Price steps down from Lionsgold board

By: Creamer Media Reporter      13th July 2018 London-listed gold exploration, production and retail firm Lionsgold has appointed a new interim chairperson, following the resignation of David Price as nonexecutive chairperson with immediate effect to focus on his CEO role at Aim-listed Rockfire Resources. Corporate lawyer Michael Corcoran,... 

AfriTin remains focused on Uis development

By: Creamer Media Reporter      13th July 2018 Aim-listed AfriTin Mining remains focused producing the first tin concentrate at its Uis mine, in Namibia, in the second half of this year. CEO Anthony Viljoen noted in a statement on Friday that there are many initiatives the company plans to complete at the mine in the short to medium term. 

W confirms thick gold intersections at Portugal project

By: Creamer Media Reporter      13th July 2018 Exploration company W Resources is continuing to get strong gold intersections from the 15-hole drilling campaign at its São Martinho gold project in Portugal, chairperson Michael Masterman reported on Friday, announcing assay results from the first seven holes. Among the results are a 25 m... 

Dacian raises A$40m in oversubscribed placement

By: Esmarie Swanepoel     13th July 2018 Junior gold miner Dacian Gold has raised A$40-million in an institutional share placement, to accelerate the exploration at its Mt Morgans operation, in Western Australia, and to extinguish a life-of-mine royalty obligation. The ASX-listed miner earlier this week launched the placement, priced... 

Pronounced growth for compressed air systems specialist

13th July 2018 South African turnkey air compressor services supplier Integrated Air Solutions has seen a notable increase in demand for highly customised compressors, adapted specifically to the customer’s individual need. Air compressor manufacturer ELGi’s comprehensive compressor range available from... 

SA halts oil exploration permits to revamp licensing

By: Bloomberg     13th July 2018 South Africa’s Department of Mineral Resources has issued a moratorium on new applications for petroleum exploration and development in order to change its licencing process. The restriction won’t affect applications received before the date of publication of the notice, which appeared in the... 

Mozambique moves closer to becoming LNG producer

By: Bloomberg     13th July 2018 Mozambique moved a few steps closer to becoming a player on the fast-growing global market for liquefied natural gas, eight years after the first major deep-water discovery there. The development of hydrocarbon resources is crucial for the southern African country, which has struggled this year... 

Angolan companies looking to find and exploit local gold and diamond reserves

By: Rebecca Campbell     13th July 2018 The Angolan Government has granted four new prospecting concessions for gold, the Macauhub news agency has reported. All four concessions have gone to partnerships formed by the State-owned Empresa Nacional de Ferro de Angola (Ferrangol – the National Iron Company of Angola) with various private... 

Record gold production at Jaguar’s Pilar mine during Q2

By: Marleny Arnoldi     12th July 2018 TSX-listed Jaguar Mining produced 18 819 oz of gold during the quarter ended June 30, including record output from the Pilar gold mine, in Brazil.  

Bluejay's Dundas may be attractive to Rio Tinto – analysts

By: Mariaan Webb     12th July 2018 The closure of Rio Tinto's South African subsidiary Richards Bay Minerals (RBM) as a result of violent protests this week, may play into the hand of London- and Frankfurt-listed Bluejay Mining, which is developing the Dundas ilmenite project, in Greenland. The project is said to be the... 

Ecuador attracting mining interest, political risks weigh on Latin America outlook

By: Mariaan Webb     12th July 2018 The South American country of Ecuador is attracting interest among foreign mining companies, as a low-risk, high-reward market, where government remains supportive of mining, despite the February referendum restricting mining in protected areas. Market intelligence firm BMI, which publishes a... 

Resolute beats production guidance, sets bar higher for FY19

By: Esmarie Swanepoel     12th July 2018 Gold miner Resolute Mining is targeting 300 000 oz of production in the 2019 financial year, after 2018’s output exceeded expectations. The miner told shareholders on Thursday that gold production in the 2018 financial year reached 284 127 oz, which exceeded the guidance of 280 000 oz, with the... 

Exploration at Botswana Diamonds JV project delivers encouraging results

By: Creamer Media Reporter      11th July 2018 The first exploration programme undertaken by Botswana Diamonds’ geologists at the Sunland Minerals joint venture (JV), in Botswana, has revealed “encouraging quantities” of kimberlitic indicator minerals (KIMs) identified at all eight anomalies sampled. A total of 267 KIMs were discovered,... 

Ounces continue to stack up at Deflector

By: Esmarie Swanepoel     11th July 2018 Gold miner Doray Minerals will spend A$10-million on exploration activity at its Deflector gold project, in Western Australia, during 2019. The miner on Wednesday reported that the mineral resource at the Deflector project had increased by 34% after mining depletion, to 762 000 oz of gold, while... 

Canadian firm joins Impact on Broken Hill hunt

By: Esmarie Swanepoel     11th July 2018 ASX-listed junior Impact Minerals has signed a letter of intent with TSX-V Listed BlueBird Battery Metals Incorporated over its Broken Hill silver/lead/zinc project, in New South Wales. Under the terms of the farm-in, BlueBird could earn a 75% interest in the five exploration licenses that... 

Dacian unveils A$37m raising to accelerate Mt Morgan exploration

By: Esmarie Swanepoel     11th July 2018 Junior gold miner Dacian Gold will raise A$37-million through an institutional placement to accelerate exploration programmes at its Mt Morgans project, in Western Australia. Some 13.7-million shares will be offered at a price of A$2.70 each, with the ability to take oversubscriptions to raise... 

Mining offers private equity opportunities despite recovery - Denham

By: Reuters     11th July 2018 Private equity still has significant opportunities to invest in mining as companies cut debt and rebuild their balance sheets even as the sector recovers, mining specialist Denham Capital said. Denham, which closed a new $550-million mining fund sooner than expected on Monday, has already... 

Brazil's Petrobras nears $1.3bn sales of African venture stake – paper

By: Reuters     10th July 2018 Brazilian State-controlled oil company Petróleo Brasileiro SA is close to agreeing the sale of its stake in an African venture for around $1.3-billion, newspaper Valor Econômico said on Tuesday. Petrobras, as the company is known, owns 50% of Petrobras Oil & Gas BV, or Petrobras Africa. Grupo BTG... 

Orosur to issue shares for advancement of Anzá project

By: Marleny Arnoldi     10th July 2018 TSX- and Aim-listed gold producer Orosur Mining continues to advance discussions to finance the next stage of exploration at the Anzá project, in Colombia.  

Turnaround under way for Miranda Mineral Holdings

By: Marleny Arnoldi     10th July 2018 JSE-listed Miranda Mineral Holdings narrowed its headline loss a share for the year ended August 31, 2017, by 76% to 1.26c, compared with 5.34c in August 2013.  

Jim Gowans joins New Gold board

By: Creamer Media Reporter      10th July 2018 Intermediate gold miner New Gold has recruited Arizona Mining CEO James Gowans to its board of directors with immediate effect. Gowans has more than 30 years of experience in mineral exploration, mine feasibility studies, mine construction and commissioning and the development of best practices... 

Kalahari Metals, Metal Tiger start exploration programme in Botswana

By: Marleny Arnoldi     10th July 2018 Aim-listed resources investor Metal Tiger announced on Tuesday an exploration programme at Kalahari Metals’ (KML’s) projects in the Kalahari copperbelt, in Botswana, has started and is aimed at identifying copper/gold mineralisation.  

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