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Newcrest cuts FY forecast on Cadia tailings incident
Published: 26 Apr 18
Gold miner Newcrest Mining has lowered its full-year production guidance on the back of the tailings breakthrough at its Cadia operations, in New South Wales. Gold production for the 2018 financial year, which ends in June, has been revised from between 2.4-million and 2.7-million ounces, to between 2.25-million and 2.35-million ounces. The copper production has been revised from the previous estimate of between 80 000 t and 90 000 t, to between 70 000 t and 75 000 t.
Sanbrado gets environmental nod
Published: 26 Apr 18
The Burkina Faso Ministry of the Environment, Green Economy and Climate Change has given environmental approval to the Sanbrado gold project. Project developer West African Resources said on Thursday that the environmental approval was a key milestone towards the development of the project.
Paladin moves to mothball Namibia uranium mine
Published: 26 Apr 18
Uranium miner Paladin Energy on Thursday announced that it was unlikely to resume physical mining activities at its Langer Heinrich operation, in Namibia, and has taken preparatory steps to place the operation on care-and-maintenance. Paladin previously told shareholders that the medium-grade ore stockpiles currently being used as feed for the Langer Heinrich processing plant would be exhausted before mid-2019, necessitating a decision on the future of the project.
Southern Copper says legal dispute over Peru's Tia Maria resolved
Published: 26 Apr 18
Southern Copper's CEO said on Wednesday it had reached a settlement with a company in Peru that blocked development of its $1.4-billion Tia Maria project with a legal injunction. Southern Copper's Oscar Gonzalez told Reuters he hoped the new government of Peruvian President Martin Vizcarra would issue a permit "soon" to allow construction work on the long-delayed project to begin this year.
Miner Grupo Mexico's profit jumps 24% in Q1
Published: 26 Apr 18
Grupo Mexico, one of the world's biggest copper producers, said on Wednesday that its net profit for the first quarter was $513-million, up 24.3%. The company, which also has units in infrastructure and railways, said its revenue totalled $2.67-billion during the quarter from January to March.
Vale’s Q1 earnings slump despite record sales volumes, as price tumbles
Published: 26 Apr 18
Brazilian diversified miner Vale – the world’s largest producer iron-ore – has reported a bigger than 36% drop in profit attributable to shareholders for the three months ended March 31. The Rio de Janeiro-based multinational blamed a 12.4% slide in iron-ore prices to $66.41/t in the period for the disappointing performance, despite reporting record sales volumes for the period.
Goldcorp earnings slide on lower output, sales Goldcorp earnings slide on lower output, sales
Published: 26 Apr 18
Canadian mining major Goldcorp has reported a sharp drop in first-quarter profit, as higher gold prices failed to offset lower production, sales and rising costs. The Vancouver-based miner reported profit of $67-million, or $0.08 a share, which was far removed from the $170-million, or $$0.20 a share, the company reported in the same period a year earlier.
Sherritt narrows Q1 loss as metals prices jump
Published: 26 Apr 18
Canadian diversified miner Sherritt International has reported a narrower first-quarter headline loss of C$14.7-million, or C$0.04 a share, compared with a loss of C$82.7-million, or C$0.28 a share, for the same period of 2017, mainly as higher metals prices made up for lower output. Sherritt incurred a net loss from operations of C$600 000, or nil a share, compared with a net loss of C$72.6-million, or C$0.25 a share, in the comparable period of 2017.
Drones being used to map underground areas, saving time  and improving safety Drones being used to map underground areas, saving time and improving safety
Published: 26 Apr 18
It is inevitable that advancement in robotics, the Internet of Things and Artificial Intelligence, would impact on the mining survey industry, says surveyor Johan Weakley. He explains that, through the collaboration of Canadian geotechnical solutions provider Clickmox Solutions and Swedish drone developer Inkonova, it is now possible to map underground areas with an unmanned aerial vehicle (UAV) using scanners employing a simultaneous localisation and mapping (Slam) algorithm.
Coal production at Vale’s Moz operation hit by bad weather
Published: 26 Apr 18
Brazilian mining major Vale is maintaining its guidance that its Moatize operation in the Tete province of Mozambique will reach a production rate of 18-million tons (Mt) next year. It gave this assurance in its recently published report “Vale’s production and sales in 1Q18”. (1Q18 meaning the first quarter of 2018.) However, the production guidance for 2018 has been reviewed as a result of adverse weather and other factors, and is now forecast to be some 15-Mt for this year. Moatize is now the only coal operation owned by the group.
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