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Sierra Metals reports flat Q4 Ebitda, production increases
Published: 15 Feb 19
TSX- and Peru-listed Sierra Metals reported adjusted earnings before interest, taxes, depreciation and amortisation of $17.4-million for the fourth quarter of 2018, compared with $17.5-million in the fourth quarter of 2017. The company processed 268 363 t, compared with 254 993 t processed in the prior comparable period.
Nevada like Witwatersrand of 1970s – Bristow
Published: 15 Feb 19
Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand new Goldrush-Fourmile discovery, which extends the footprint within Cortez district in Nevada in the US, is already at 12-million ounces at over 10 g/t.
Mantashe calls for more security at mines following Gloria coal mine incident
Published: 15 Feb 19
Mineral Resources Minister Gwede Mantashe on Friday said the priority remains to restore ventilation at the Gloria mine, in Mpumalanga, and to reduce flammable gases underground so that the search and recovery process can continue with the necessary speed. He also called for security at mines to be enhanced in order to effectively address illegal mining.
Yamana forecasts stable-to-positive production growth to 2020
Published: 15 Feb 19
TSX-listed Yamana Gold expects stable-to-positive production growth, with gold and silver output forecast to increase to 955 000 oz and 12-million ounces, respectively, by 2020. In the fourth-quarter and full-year results announcement on Thursday, the company stated that gold production would benefit from continued strong performance across the portfolio, led by production increases at Qubec-based Canadian Malartic, while silver production was expected to benefit from grade and production increases at Cerro Moro, Argentina, in line with current mine plans.
2019 to be an ‘important year’ for First Quantum
Published: 15 Feb 19
TSX-listed First Quantum Minerals is set for “another important year” as the Cobre Panama project, in Panama, is gearing up to start production, chairperson and CEO Philip Pascall said on Thursday, announcing the miner’s fourth-quarter and year-end results. He reported that the development of Cobre Panama was nearing completion, with the focus now on construction completion, commissioning of the process plant and commissioning of ramp-up of the power station.
Proposed Olympic Dam expansion declared ‘major development’ Proposed Olympic Dam expansion declared ‘major development’
Published: 15 Feb 19
Mining giant BHP’s expansion plan at its Olympic Dam project, in South Australia, has seen the project declared a major development by the state government. The proposed $3-billion expansion will increase copper production at Olympic Dam by some 75%, from 200 000 t/y to 350 000 t/y, and will increase the level of gold, silver and uranium production at the mine.
Mantashe to visit Glory coal mine where 22 men are still trapped underground
Published: 15 Feb 19
Mineral Resources Minister Gwede Mantashe is expected to pay a visit to the Gloria coal mine near Middelburg, Mpumalanga, where 22 alleged copper thieves have been trapped and are believed dead following an explosion at the beginning of February. A group of 42 men, reportedly Lesotho nationals, gained access to shafts at the Gloria coal mine near Middelburg in Mpumalanga on February 1, allegedly to steal copper cables.News24 reported that following a gas explosion, 20 members of the group ...
Fortune says Whati all-season road construction to start this year
Published: 15 Feb 19
The Northwest Territories government has signed an agreement with North Star Infrastructure to construct the Tlicho all-season road to the community of Whati, 50 km south of TSX-listed Fortune Minerals’ proposed Nico cobalt/gold/bismuth/copper mine. As part of its proposed development, Fortune plans to construct a spur road to connect with the Tlicho road in order to enable concentrates produced from the mine to be transported south for processing to value-added products.
Eagle mine, US Eagle mine, US
Published: 15 Feb 19
A copper/nickel mine located in the upper peninsula of Michigan.
South African foundry involved in product development
Published: 15 Feb 19
South Africa-based foundry and engineering company Thos Begbie is developing a critical furnace component as part of a cooperation agreement with a major Canada-based consulting firm. Thos Begbie sales engineer Esli Bantjes tells Mining Weekly that the development is “top secret” and that the component will “revolutionise” the industry by significantly lengthening the production life of a blast furnace. Design and initial testing are complete, and a full production run is under way. The Canadian consulting firm will place the component into accrual production furnaces for the ultimate tests.
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