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Kropz eyeing first ore through phosphates plant this year Kropz eyeing first ore through phosphates plant this year
Published: 23 Jan 18
Explorer, developer and miner of plant nutrient minerals Kropz, which has invested $120-million in its 95% complete Western Cape processing facility, is finalising plant design and mulling capital raising to take the Elandsfonten phosphates project to the next level, Kropz CEO-designate Ian Harebottle told journalists on Tuesday. “This would be a push, but we’d certainly hope to be putting some of the first ore though our plant before the end of the year,” the former Gemfields CEO told the media conference in which Creamer Media’s Mining Weekly Online took part.
Argentina, Russia ink uranium exploration, production deal
Published: 23 Jan 18
Argentina and Russia signed a memorandum of understanding to boost uranium exploration and production in the South American country that could include $250-million in investment, Argentina's foreign ministry said on Tuesday. The agreement was sealed during a visit by Argentine President Mauricio Macri to Moscow. It was signed by Foreign Minister Jorge Faurie, CEO of Russia's Uranium One Group, and chief of London-based UrAmerica, which explores for uranium in Argentina and Paraguay.
Alrosa signs 67 long-term diamond supply contracts
Published: 23 Jan 18
Diamond major Alrosa has signed 67 long-term agreements for the sale of gem quality and industrial rough diamonds, 12 of which are agreements with Russian companies. Of the eight Russian companies that are buying rough diamonds from Alrosa, three are new clients – Aives, Diapur and Kristalldiam.
New French firm Orano, formerly called Areva, says uranium price too low to invest in mines
Published: 23 Jan 18
Philippe Knoche, chief executive officer of French uranium and nuclear fuel group Orano - formerly called Areva - said current market prices for uranium are too low to invest in new uranium mines. He added that long-term contract prices for uranium are about $10/lb higher than spot prices.
Berkeley says offtake activity to intensify this year Berkeley says offtake activity to intensify this year
Published: 23 Jan 18
Uranium project developer Berkeley Energia is seeing a “notable” increase in public tender activity and says it expects offtake activity to intensify, once full construction of its Salamanca mine, in Spain, is under way. In a quarterly update on Tuesday, Berkeley said that it would participate in public and private offtake opportunities with global utilities to build its offtake book this year, noting that there was potential to increase its contracted volumes by another 1.25-million pounds a year of U3O8 concentrate.
Oyu Tolgoi reaches milestone with shaft completion, maintains force majeure
Published: 23 Jan 18
Rio Tinto subsidiary Turquoise Hill said that Oyu Tolgoi, a copper and gold mine in the southern Gobi desert, in Mongolia, has marked an early development milestone at the Hugo North Lift 1, with the completion of the sinking of Shaft 2, including reaching final depth, shaft bottom mass excavation and concrete floor installation. Turquoise Hill CEO Jeff Tygesen on Monday noted that the completion of the Shaft 2 sinking is the first of several key milestones that will lead to the production of copper and gold from Hugo North Lift 1.
Metal Tiger slashes Kingsgate stake, says ‘watching board’
Published: 23 Jan 18
Aim-listed resources investor Metal Tiger has slashed its shareholding in ASX-listed Kingsgate Consolidated from 19.43-million shares to 11.50-million shares, representing 5.5% of the share capital. The company booked gross proceeds of A$2.69-million (about £1.53-million) on the sale.
Iamgold begins Monster Lake drilling project
Published: 23 Jan 18
TSX-listed TomaGold has confirmed that an initial resource estimate is under way for its Monster Lake joint venture project, located 50 km south-west of Chibougamau, in Quebec, Canada. The estimate will be based on data from more than 80 000 m of drilling completed by TomaGold’s joint venture partner, international gold producer Iamgold, as well as TomaGold and previous explorers, including about 38 000m from the 325-Megane zone area.
Banro starts court-approved sales, investment solicitation process
Published: 23 Jan 18
Following the start of restructuring proceedings last month, Democratic Republic of Congo- (DRC-) focused miner Banro Corporation and its Barbados subsidiaries have initiated a sale and investment solicitation process (Sisp). The company, which in December filed for bankruptcy protection in Canada under the Companies' Creditors Arrangement Act (CCAA), operates the Namoya and Twangiza gold mines in the DRC. The Sisp will be conducted in conjunction with the CCAA ...
Excellon sees stable Q4 production
Published: 23 Jan 18
Having ramped up production at its Mexico-based Platosa mine, TSX-listed silver miner Excellon removed a major bottleneck and demonstrated stable fourth-quarter production despite dry mining conditions. "We have more work to do though, as we are working through normal course transitional issues as we ramp up to higher production rates,” said CEO Brendan Cahill in a statement released Tuesday. In October, the company successfully commissioned the second tailings management facility (TMF) at its mill in Miguel Auza, Zacatecas.
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