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FINANCE

Bellzone advanced $750 000 to continue operations until mid-September

Aim-listed Bellzone Mining would be advanced $750 000 by China Sonangol, in terms of an up to $4-million loan agreement, which was expected to allow the company to continue operations until mid-September. This advancement would bring the amount...
1st September 2014
 
GOLD

Shanta posts first operating profit

East Africa-focused gold producer Shanta Gold on Monday announced its first operating profit of $11.1-million for the six months ended June 30. The company, which started commercial production in 2013 increased its gold production 10% year-on-year...
1st September 2014
 
MAGNETITE

Major impairment affects Grange bottom line

A significant impairment over the carrying value of magnetite miner Grange Resources’ Savage River asset, in Tasmania, has resulted in the company reporting a statutory after-tax loss of A$162.2-million for the half-year ended June. The company...
1st September 2014
 
COPPER

Tiger completes institutional placement

Copper cathode producer Tiger Resources on Monday announced that it had completed the institutional component of its A$45.6-million capital raising. The institutional component comprises A$26.1-million. A further A$19.5-million will be raised...
1st September 2014
 
IRON-ORE

Roy Hill starts owner/operator mining

The Roy Hill iron-ore mine, in Western Australia, has reported another milestone with the official start of owner/operator mining, said unlisted Hancock Prospecting. The $10-billion Roy Hill project was expected to deliver its first export...
1st September 2014
 
GOLD

Australia gold output rises on higher grades

Australia’s gold production increased by 9%, or 24 t, during 2013/14, compared with the previous year, to 282 000 t, mining consultants Surbiton Associates revealed this week. At the current spot price, Australia’s gold production was worth...
1st September 2014
 
GOLD

Atlantic Gold buys Nova Scotia exploration properties

Dual-listed Atlantic Gold has entered into an agreement with Singapore-listed LionGold Corp to acquire its subsidiary Acadian Mining Corporation for a mixture of cash and shares. Atlantic Gold recently completed a merger with Atlantic Gold...
1st September 2014
 
COAL

New Hope’s Qld expansion plans open to public scrutiny

The Queensland government has opened the expansion of New Hope Coal’s New Acland project to public scrutiny. The state government on Monday invited members of the public to have their say on the environmental impact of the proposed mine...
1st September 2014
 
COPPER

Codelco output rises but lower copper price eats into profit

Codelco, the world's No 1 copper producer, on Friday reported a rise in its first-half production, largely due to the contribution of a new mine, but a slide in the market price of copper metal eroded profits. The Chilean state-run company said...
29th August 2014
 
CORPORATE ACTIVITY

Osisko Gold Royalties ups stakes in two juniors

Canadian explorer Osisko Gold Royalties on Friday announced that it had lifted its interest in gold explorer Niogold Mining and base metals explorer Falco Resources. The TSX-listed firm closed a C$4.9-million private-placement for 14-million...
29th August 2014
 
All

Makabingui gold project, Senegal Restricted

Bassari Resources has identified potential cost reductions in capital and operating expenditure at its Makabingui gold project, in Senegal.
29th August 2014
 
LEGISLATIVE ENVIRONMENT

Mineral beneficiation, industrialisation key to development – Finance Minister

Finance Minister Nhlanhla Nene The key to the development of South Africa lay in mineral beneficiation and industrialisation in joint development with its regional neighbours, South Africa’s new Finance Minister Nhlanhla Nene told the Centre for Education In Economics and...
29th August 2014
 
 
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