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Coal miner New Hope swings to full-year profit
Published: 19 Sep 17
Coal miner New Hope Corporation has swung back into black during the 2017 financial year, with the miner reporting a 362% increase in net profit after tax. During the 12 months to July, net profit increased to A$140.6-million, compared with a net loss of A$53.6-million in 2016.
Doray finds new gold at Gnaweeda
Published: 19 Sep 17
Western Australian gold miner Doray Minerals has announced a new gold discovery at the St Anne’s prospect, at its Gnaweeda project. The ASX-listed company noted that first pass reverse circulation drilling over the St Annes prospect had returned strong gold mineralisation, with 20 m at 2.4 g/t gold, including 8 m at 5 g/t gold.
Artemis raises A$12m
Published: 19 Sep 17
Junior Artemis Resources will raise A$12-million through the issue of some 60-million shares, at a price of 20c each, to fund its share of gold exploration in Western Australia. “These funds will allow Artemis to play a key role in working closely Novo [Resources] on the 50/50 joint venture (JV) for conglomerate and/or paleo placer gold at Purdy’s Reward and other targets within the mutual JV ground in the Karratha region of Western Australia,” said Artemis executive chairperson David Lenigas.
Petra’s Finsch, Kimberley Ekapa Mining JV impacted by labour disruption Petra’s Finsch, Kimberley Ekapa Mining JV impacted by labour disruption
Published: 19 Sep 17
Aim-listed Petra Diamonds’ Finsch and Kimberley Ekapa Mining joint venture operations are being affected by a labour disruption that started on Monday evening. Underground and surface mining operations are affected, but plant treatment is continuing at near normal capacity, treating surface material and available stockpiles.
Gulf secures ore supply for Kupang smelter
Published: 19 Sep 17
ASX-listed Gulf Manganese has inked two ore supply agreements with manganese mining companies in Timor, to secure feedstock to start operations at the Kupang smelting facility, in Indonesia. A further supply agreement was expected shortly, Gulf said on Tuesday, along the Kupang start-up to take place in early 2018.
Odisha to clamp down on illegal coal, nonferrous mineral extraction
Published: 19 Sep 17
Close on the heels of imposing penalties on iron-ore and manganese miners, the government of the eastern Indian province of Odisha is readying for a clampdown on coal and other nonferrous mineral miners for production beyond approved mining plans. The Odisha government is preparing notices to be issued to coal and nonferrous ore mining companies imposing hefty penalties for illegal extraction.
Pennsylvania permitting delay prompts Consol to change Bailey mine plan
Published: 19 Sep 17
A delay by the Pennsylvania Department of Environmental Protection (DEP) in evaluating the approval of the Bailey mine permit for the 4L panel has pressed Consol Energy to move the longwall to another panel to resume operations. The company expects the longwall move to last about four weeks and is implementing several measures to mitigate the production impact from this delay, including working added unscheduled shifts at the remaining four longwalls, compared with the previous five-and-a-half-day schedule.
Teck ups Red Dog guidance; outlines significant exploration target for Aktigiruq
Published: 19 Sep 17
Canada’s largest diversified miner Teck Resources has added about 50 000 t of zinc output to the full-year guidance for its Red Dog mine, in Alaska. Vancouver-headquartered Teck advised that improving recoveries in the last few months has prompted the company to lift guidance to a range of 525 000 t to 550 000 t of zinc, up from the most recent guidance range of 475 000 t to 500 000 t of zinc.
Brazil mining reform is raising costs for industry – Vale exec
Published: 19 Sep 17
Mining reforms in Brazil are raising the cost of operating without generating increased interest in investing in the sector, an executive for world's largest iron-ore producer Vale said on Monday. Brazil President Michel Temer issued decrees in July to boost mining royalties, create a new industry regulator and streamline regulations, arguing that efficient and transparent rules would bring in more investment.
Brazil's Vale to meet debt target before implementing new growth plans – exec
Published: 19 Sep 17
The new growth strategy being evaluated by Brazil's Vale would only be implemented once the company meets its debt reduction targets, an executive director for the world's largest iron ore producer said on Monday. The company is also interested in investing in the electricity sector itself or through a joint venture, including potentially bidding for Companhia Energetica de Minas Gerais hydroelectric projects, said Clovis Torres, an executive director who oversees legal issues and human resources.
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