Новости за 05.08.2019

The completion of the preliminary economic assessment (PEA) of the Coringa gold project, in north-central Brazil, had been delayed to the end of month, Aim- and TSX-listed Serabi Gold reported on Monday. The company initially aimed to release the results of the PEA this week, but consultants Global Resource Engineering (GRE) had requested further time to complete their work, owing to a decision to switch to dry stacking and to do away with a conventional dam. This impacted on the process flowsheet design.

The board of JSE-listed Merafe Resources has decided against declaring an interim dividend owing to prevailing market conditions; however, CEO Zanele Matlala on Monday noted that a final dividend would be considered based on the full-year results. “In the absence of any opportunities, we will continue returning cash to shareholders in line with dividend policy,” she explained in a conference call following the release of the company’s results for the six months to June 30.

JSE-listed Merafe Resources produced a “subdued” set of financial results for the six months ended June 30, as a result of a challenging operational environment, characterised by weak demand and prices. Merafe’s revenue and operating income are primarily generated from the Glencore-Merafe Chrome Venture, which has a total installed capacity of 2.3-million tonnes of ferrochrome a year.

ASX-listed junior Mincor Resources has inked a binding ore tolling and concentrate purchase agreement with mining major BHP’s Nickel West division. The two companies in March this year signed an offtake term sheet, under which Nickel West would process a minimum of 200 000 t/y and a maximum of 600 000 t/y of Mincor’s nickel ore through the Kambalda concentrator, with the contract to conclude on the earliest of the fifth anniversary of first delivery, or by the end of December 2025.

AltX- and Aim-listed metals processing company Jubilee Metals achieved a 75% increase in combined revenue for the six months ended June 30, reflecting the company’s focus on increasing and diversifying its earnings base. CEO Leon Coetzer in a statement on Monday said revenue increased to R263-million, as a result of a considerable uplift in production figures across the portfolio, both in chrome and platinum group metals.

ASX- and JSE-listed Orion Minerals’ joint venture partner Independence Group has started diamond drilling to test several highly prospective intrusive nickel/copper and volcanic massive sulphide copper/zinc targets in Western Australia. The drill target at the North West Passage prospect, in the Fraser Range Belt, was initially identified by Orion in 2014.

North America-focused Phoenix Copper has completed a new economic model for the Idaho-based Empire mine, which the company will now use as a basis for the feasibility study that it aims to deliver before the middle of next year. The economic model, which was prepared by Hard Rock Consulting of Lakewood, Colorado, is based ore production of 1.6-million tons a year over an initial nine-year mine life, with a further two years of low-grade ore processing at the end of mining.

ASX- and LSE-listed Danakali has obtained formal credit approval from the Africa Finance Corporation and African Export Import Bank to provide the Colluli Mining Share Company with $200-million in senior debt finance. The facility will be part of the overall project funding package for the development and construction of the Colluli potash project, in the Danakali Depression region of Eritrea.

Iron-ore has gone from high-flier to sinking star in a matter of weeks. The commodity that lit up the first half with a stunning rally dropped back below $100/t as supplies pick up, mills’ profitability falls and investors dump raw materials amid the escalating trade war. Most-active futures in Singapore, which retreated 10% last week, lost as much as 7% to $95.96/t, while the contract on the Dalian Commodity Exchange sank further after dropping into bear market territory. Miners’ shares fell.

The world’s biggest miners, including BHP Group and Glencore, are finally firm believers in the electric vehicle battery revolution – what they don’t agree on is which metals will deliver the best long-term exposure to the developing global market. BHP has revived a declining nickel unit in Western Australia to target the sector, while Rio Tinto Group is accelerating work to enter the lithium market. Glencore is focusing on cobalt and copper and Anglo American Plc is examining prospects for platinum... Читать дальше...

Australian Energy Minister Angus Taylor has established an inquiry into the nuclear fuel cycle, and the potential use of nuclear energy in Australia. “The Committee will be asking a range of questions to establish whether nuclear energy would be feasible and suitable for Australia with account for economic, environmental and safety issues,” said committee chair Ted O’Brien.

Diversified miner South32 has flagged the possible closure or divestment of its manganese alloy operations in South Africa and Australia. Speaking at Diggers and Dealers, in Kalgoorlie, Australia, South32 chief developing officer Simon Collins said on Monday that the manganese alloy industry had fundamentally changed in recent times, putting South32’s operations in a "precarious position".

Battery producers and electric automakers, including Tesla Inc., are concerned over longer-term supplies of nickel, a key material in their supply chain that’s forecast to fall into deficit, according to an Australian miner that’s held recent talks with the sector. The need for the high-purity material used in batteries, known as class-one nickel, is likely to outstrip supply within five years, fueled mainly by rising consumption in the EV industry, according to BloombergNEF.

Potash developer Salt Lake Potash has mandated Taurus Funds Management to provide a staged $150-million project finance facility to fund the Lake Way sulphate of potash (SOP) project, in Western Australia. The Stage 1 facility will consist of $30-million, and will provide Salt Lake with funds for early construction works at the Lake Way project, and to fund the completion of a bankable feasibility study (BFS).

ASX-listed Coronado Global Resources has unveiled plans worth between $80-million and $108.5-million to increase production at the Curragh coal mine, in Queensland, to 15-million tonnes a year by 2023. The US-based Coronado acquired Curragh in a A$700-million deal with ASX-listed Wesfarmers in 2018.