Mining Weekly
Consolidation key to Sarama’s success in Burkina Faso’s best gold belt
Tue, 27 Jun 2017 23:41:00 +0200
Asset consolidation in the southern Houndé gold belt, in Burkina Faso, is critical to Perth, Western Australia-based project developer Sarama Resources successfully establishing “a mine or two” in the region. The company, which is incorporated in Canada’s province of British Columbia and has its primary equity listing on the Toronto Venture Exchange, already has interests in 1 750 km2 in the Houndé gold belt, billed as the “most prospective gold belt” in the West African country.
Gahcho Kué prices fetch new high at $95/ct
Wed, 28 Jun 2017 00:24:00 +0200
Mountain Province Diamonds has recorded its highest average price to date for diamonds produced at its 49%-owned Gahcho Kué mine, in Canada’s Northwest Territories, as it collected $21.1-million at its June tender sale. The company on Tuesday reported that the fifth tender of rough diamonds from the company’s Gahcho Kué mine had realised $95/ct, compared with $72/ct in the first three tenders and $86/ct at the fourth.
Seabridge gets federal law amendment to use fish-bearing streams for KSM tailings storage
Wed, 28 Jun 2017 01:05:00 +0200
The Canadian federal government has passed a regulatory amendment authorising project developer Seabridge Gold to use fish-bearing streams in the tailings management facility (TMF) for its Kerr-Sulphurets-Mitchell (KSM) project, in north-western British Columbia. The company announced on Tuesday that the federal government has issued a regulatory amendment to Schedule 2 of the Metal Mining Effluent Regulations (MMER) under the Fisheries Act for KSM’s TMF, subject to strict bonding and fishery habit compensation requirements that were identified during the three-year amendment review process.
IDM reports feasible mine plan for Red Mountain gold project
Wed, 28 Jun 2017 01:29:00 +0200
Exploration and development company IDM Mining has released the positive results of a feasibility study on the Red Mountain gold project, located near the town of Stewart, in north-western British Columbia. The 2017 study confirms the positive economics for a near-term, high-grade, bulk mineable underground gold operation at Red Mountain.
New Gold’s Rainy River progresses on schedule, budget
Wed, 28 Jun 2017 02:06:00 +0200
Canadian miner New Gold on Tuesday reported that construction of its $1-billion-plus Rainy River project, in Ontario, remains on track to start operations in September, with commercial production expected to follow in November. “Through the second quarter, our team has both successfully commenced the staged commissioning of our process facility and delivered on our mining plan. As the pit has opened up, our operations team has recently delivered further increases in the mining rate, including several days over 130 000 t/d,” president and CEO Hannes Portmann said in a press release.
Biggest coal plant in US west gets another two years to live
Wed, 28 Jun 2017 07:51:00 +0200
The Navajo generating station, the biggest coal-fired power plant in the US West, will live to see another two years. On Monday, Navajo Nation leaders approved a lease with the plant’s utility owners that will keep the ailing, 2 250 MW complex operating through December 2019. The owners signaled on Tuesday that they’ll sign the deal this week, the Navajo Nation Council said by email.
Brazil's Vale shareholders approve corporate reorganisation
Tue, 27 Jun 2017 19:21:00 +0200
Shareholders of Vale on Tuesday approved a share conversion plan, its press office said, in a bid to boost transparency, give equal votes to all shares and limit the possibility of government meddling in the world's No 1 iron-ore producer. Shareholders approved all seven items on the corporate restructuring agenda, which is a first step towards giving the company dispersed share ownership - where no major shareholder controls decision making at the firm.
Iron-ore outlook cut back by Morgan Stanley over rest of year
Tue, 27 Jun 2017 14:48:00 +0200
Iron-ore forecasts at Morgan Stanley have been chopped back for the remainder of the year, with the bank flagging prospects for rising low-cost production and the likelihood that the worldwide surplus will increase every year through to 2021. The commodity will average $50 a ton in the third quarter, 23% down from an earlier estimate, and $55 in the final three months, a 15% reduction, according to a report. The 2017 forecast was pared 15% to $63, while the outlooks for next year and 2019 were left at $58 and $54.