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Perseus expects strong operating performance to continue

Published: 24 Apr 24

ASX- and TSX-listed Perseus Mining has reported gold sales of 115 648 oz in the March quarter – a 19 489 oz decrease on sales in the December 2023 quarter, owing to the timing of gold sales. The weighted average gold price realised was $2 025/oz, $62/oz more than the December 2023 quarter price of $1 963/oz.

West African on track to meet full-year guidance following solid first quarter

Published: 24 Apr 24

Unhedged gold mining company West African Resources’ Sanbrado mine, in Burkina Faso, produced 56 595 oz of gold at an all-in sustaining cost (AISC) of $1 291/oz in the first quarter of this year. The company says it is tracking well to achieve full-year guidance of 190 000 oz to 210 000 oz at an AISC of less than $1 300/oz.

Ironveld enters facility agreement with Tracarta

Published: 24 Apr 24

Aim-listed mining development company Ironveld has entered into a further working capital loan facility agreement with shareholder Tracarta, in which Ironveld chairperson John Wardle has a beneficial interest. The facility agreement enables the company to draw down up to £125 000 on equivalent terms to the existing loan facilities with Tracarta and has a term of six months.

Miner Freeport-McMoRan beats quarterly profit estimates on strong production

Published: 24 Apr 24

Copper miner Freeport-McMoRan beat Wall Street estimates for first-quarter profit on Tuesday, helped by higher production and easing costs. The mining giant said its quarterly production of copper rose to 1.1-billion pounds from 965-million pounds a year earlier, helped by a 49% jump in output from its Indonesia operations.

G Mining draws remaining $33m for TZ project

Published: 24 Apr 24

Toronto-listed G Mining Ventures (GMIN) has successfully drawn the remaining $33-million on its $75-million senior secured term loan with an affiliate of Franco-Nevada, in accordance with an announcement in July 2022. The proceeds of the term loan will be used to continue the development and construction of GMIN's 100% owned Tocantinzinho gold project currently under construction in Brazil.

rough diamonds being sorted using tweezers

Diamond council urges industry to transition to revised System Of Warranties urgently

Published: 24 Apr 24

The World Diamond Council’s (WDC’s) revised System of Warranties (SoW) is set to reach its first critical deadline on September 21, when it becomes obligatory for all rough diamond sales. “We strongly urge all companies, but especially . . . rough diamond traders, to transition to the revised SoW, if they have not done so yet, to be ready for the September 21 deadline,” WDC executive director Elodie Daguzan said on April 24.

Champion Iron eyes expansion beyond 15Mt/y at Bloom Lake

Published: 24 Apr 24

Canadian miner Champion Iron is considering a significant expansion of its production capacity at the Bloom Lake mine, in Quebec. CEO David Cataford says Champion’s technical team is assessing the investments necessary to structurally increase production beyond the current 15-million-tonne-a-year mark.

Copper 360 ships concentrate, on course to pay first dividend next year

Published: 24 Apr 24

South Africa's rapidly advancing copper producer Copper 360 has shipped copper concentrate from the Northern Cape province for the first time in 21 years, which saw its shares rise by more than 26% on Wednesday, April 24. As South Africa’s only listed pure copper producer, Copper 360 has delivered record concentrate grades during plant commissioning, and is performing way ahead of expectation as a producer of concentrate and copper cathode.

Woodside investors vote down climate plan, rebuking Australia's top gas producer

Published: 24 Apr 24

Shareholders rejected Woodside Energy's climate plan on Wednesday, marking a symbolic victory for activists who have called for Australia's biggest gas producer to stop new fossil fuel projects, but its chairman survived a push to oust him. Following a lengthy campaign by activists, 58% of the votes opposed Woodside's climate transition plan in a demonstration of the growing unease over its strategy for curbing carbon emissions which critics say is unambitious and vague.

The Greenstone mine will be one of Canada's largest and highest grade mines.

Equinox acquires full ownership of Greenstone for $995m

Published: 24 Apr 24

Vancouver-based Equinox Gold has announced the acquisition of Orion Mine Finance’s 40% interest in Greenstone Gold Mines for $955-million. This gives Equinox full ownership of what it describes as a “rare” gold opportunity. The company acquired its 60% interest in Greenstone three years ago, and chairperson Ross Beaty says it has always been Equinox’s ultimately goal to own the whole mine.