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Empire strikes out at JV partner
Published: 12 Jul 18
Junior gold miner Empire Resources has terminated its joint venture agreement with Brimstone Resources over the Penny’s Find mine, in Western Australia. Empire holds a 60% interest in the project area, with the receiver appointed to Brimstone holding the remaining 40% interest.
Platina finds site for Owendale plant
Published: 12 Jul 18
ASX-listed Platina Resources has signed a lease for the site of its proposed Owendale scandium processing facility, in New South Wales. The site, a former abattoir, is some 70 km from the mine site and has road system capable of handling the trucks that will be used to transport ore from the mine to the plant.
World's oil cushion could be stretched to the limit, IEA warns World's oil cushion could be stretched to the limit, IEA warns
Published: 12 Jul 18
The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency (IEA) said on Thursday. The expected drop in Iranian crude exports this year due to renewed US sanctions, coupled with a decline in Venezuela's production and outages in Libya, Canada and the North Sea have driven oil prices to their highest since 2014 in recent weeks.
Superior Lake fast-tracks mine restart
Published: 12 Jul 18
Junior base metals developer Superior Lake Resources has announced plans to fast-track the restart of its Superior Lake metals project, in Canada. The ASX-listed company said that following the completion of a maiden Joint Ore Reserves Committee compliant resource of 2.1-million tonnes, grading 17.7% zinc, 0.8% copper, 0.4 g/t gold and 33.5 g/t silver, the company has also completed an extensive review of historical information at the project, that has given it the confidence to fast-track a restart.
WPG sets production record despite Challenger issues
Published: 12 Jul 18
Junior gold miner WPG Resources has reported record quarterly production of 17 818 oz, with the month of June also producing a record 7 155 oz. The June quarter production was up from the 14 124 oz produced in the previous quarter.
New Century sets August start date
Published: 12 Jul 18
The Century zinc mine, in Queensland, is on track to start production in August this year, ASX-listed New Century Resources said on Thursday. The company has completed the commissioning of the slurry concentrate pipeline, which is now filled and ready to receive first concentrate.
Resolute beats production guidance, sets bar higher for FY19
Published: 12 Jul 18
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 Syama operation, in Mali, delivering 194 142 oz in the full year, and the Ravenswood operation, in Queensland, producing 89 985 oz.
Caledonia reports fatality, flat Q2 production at Zim mine
Published: 12 Jul 18
Caledonia Mining Corporation’s 49%-owned Blanket mine, in Zimbabwe, produced 12 657 oz of gold in the quarter ended June 30. Output was 2% lower quarter-on-quarter, but 1% higher year-on-year.
Hurting for buyers, US coal miners are learning to love India Hurting for buyers, US coal miners are learning to love India
Published: 12 Jul 18
The big bright spot for US coal miners is located halfway around the world. India almost tripled its imports of the rock from America in the first quarter from a year earlier, helping fuel its fast-growing economy and making it the largest foreign buyer of US coal, according to the US Energy Information Administration.
BHP makes contract offer to union at Escondida mine in Chile
Published: 12 Jul 18
BHP Billiton handed in a proposal for a new labor contract to the union at its Escondida copper mine in Chile that includes a salary readjustment linked to inflation and a $23 000 bonus per worker, the company said on Wednesday. The offer falls short of fulfilling some of the demands laid out by the union previously.
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