Russia coming back to life
Sky-high inflation, debilitating economic sanctions, plummeting oil prices and ruble depreciation are just some of the obstacles the country has faced since 2013. This has seen the Russian government...
View ArticlePolymetal gets development bank backing
The EBRD loan – maturing at the end of 2022 – will go towards the $400 million start-up cost for Kyzyl. This follows Polymetal’s extension of a previous $400 million loan earlier this month, which will...
View ArticlePeter Hambro loses board fight
The stoush was driven by major shareholders Renova Group, Sothic, M&G Investments and DE Shaw. The group (minus DE Shaw) announced last month it would push for a new chairman and representatives...
View ArticleRichland boosts sapphire sales prospects
Royal Touch, which has close relationships with certain television sales networks, and China Stone have been confirmed as Capricorn sightholders. This makes them the only authorised bulk purchasers of...
View ArticleAIM mining arrivals fall way behind TSX
This pales in comparison to the 29 new companies that have listed on Toronto’s in the first five months of the year. Brian McMahon, executive director of Jangada Mines (LN:JAN) one of the two...
View ArticleCAML keeps up Kounrad consistency
The company produced 7,027t of copper in the first half, up 2% from the 6,908t produced a year earlier, and sold 6,870t of cathode, up 8% from the first half of 2016. The June quarter, in particular,...
View ArticleVolvo goes all-electric
While cynics might see this a marketing coup more than anything else – BMW, Mercedes and Volkswagen all offer or will soon offer their best-selling models in plug-in hybrid variants – it has set a...
View ArticlePotash explorer coming to AIM
The former Elemental Minerals raised US$50 million last year from the sovereign wealth fund of the Sultanate of Oman, chemical fertiliser giant SQM and Mauritius-based private equity firm Summit....
View ArticleGolden overburden for KB
The project has gold oxide zones above the copper sulphide deposit, which are the subject of the latest resource calculation. The indicated and inferred resource for gold zone two is 2.29 million...
View ArticlePetropavlovsk CEO out the door
Maslovskiy ran the Russian gold miner from 1994 to 2011, when he stepped down for three years to join the Russian upper house before coming back to the job. Major investors pushed Hambro out at June’s...
View ArticleOrtac back at Slovakia project
The permit for Ortac’s Kremnica-based project had been tied up in legal action but a small-scale licence was reissued last month so the underground resource at the historic mine can be extracted....
View ArticleGeorgian keeps eyes on big prize
Georgian was set up – or rather renamed and repositioned from Austria-focused Noricum Gold – to chase the rich copper-gold potential of Kvemo Bolnisi and the area around it, but the gold oxide...
View ArticleChallenges continue for Wolf Minerals
Hemerdon, in Devon, England, has had several plant issues since the company produced its first concentrate almost two years ago, and it is still battling to rectify them. In the June quarter, Wolf...
View ArticleAnother setback for Eldorado Gold
After already cutting guidance before the results came out, Eldorado dropped 2017 expectations further because of a delay in getting its Olympias mine, in Greece, to commercial production. Eldorado...
View ArticleKarelian’s rough Lahtojoki diamond PEA
Lahtojoki is a diamondiferous kimberlite pipe in the Kuopia-Kaavi district which, if developed, would be the first diamond mine in Europe outside of Russia, according to Karelian. The PEA indicates the...
View ArticleAlacer finds Çöpler expansion savings
The company produced 25,113 ounces of attributable gold in the June quarter, down 4.6% from the previous quarter (26,334oz), but 4.5% higher than the same quarter of 2016 (25,113oz). This was produced...
View ArticleBacanora’s early Zinnwald option
Lithium explorer Bacanora has a joint venture with SolarWorld aimed at developing the historic Zinnwald underground mine into a hard rock lithium project. The deal allowed Bacanora to buy out...
View ArticleEight miners missing at Alrosa mine
The Russian miner managed to pull out 134 miners but its rescue teams have been looking for the missing men for two days without success. Reuters reported the shafts had been flooded by water coming...
View ArticleExplorer IPOs slowly ticking along
While the supposed summer lull has come along in the UK, there wasn’t any great momentum for it to halt. Project generator Altus Strategies (LN:ALS) raised £1.11 million (US$1.44 million) last week on...
View Article“Anything substantive and you’ll have to pay”
But the research game will be shaken up come January 3. European Union rules saying banks must charge for research will see everyone sending out what is determined to be ‘substantive’ research, from...
View ArticlePolyus battles with stronger rouble
The miner restarted mining activity at Natalka in Russia’s Magadan region in January and has completed successful trial runs at the project’s primary crusher, main SAG mill and main ball mill, as well...
View ArticleNevsun’s ‘conservative approach’ bites
So it really wasn’t a surprise when investors had the same reaction last week when the company made another cut with the purpose of keeping Timok on course, this time redirecting capital from its...
View ArticleSirius aiming for offtakes by year-end
In its report of the first six months of the year, Sirius outlined infrastructure work and £121 million (US$156 million) in spending, leaving £491 million in cash on the books. “Site preparation at...
View ArticleKaz twin ramp-up strategy on track
The Kazakhstan-based copper miner’s three operations produced 118,000 tonnes of the metal in the six months to June 30, a 34% increase the previous six months and 52% up from the same period last year....
View ArticleSilver Bear drops PEA figures
The changes come from Silver Bear’s decision to include the Mangazeisky North deposit in the mine plan for the Vertikalny deposit, meaning the resource estimate of the former had to be brought in line...
View ArticleContractor killed by tree
The Vancouver-based company said an investigation was underway and extended its condolences to the individual’s family, friends and colleagues. “Safety is our top priority at Eldorado Gold and we are...
View ArticleVast waits on Romanian licence
Vast bought Baita Plai in 2015 and has been working since then to get the mining licence transferred from the state body that took it when the mine shut in 2013 due to previous owner Mineral Mining’s...
View ArticleEldorado gives up on Greece
Canadian miner Eldorado has been frustrated by years of delays from government and local opposition to two major expansion projects in the north of Greece. Eldorado had expected to declare commercial...
View ArticlePetropavlosk boosts production, profits
Production for the first half of the year rose 19%, year-on-year, to 232,400 ounces at an all-in sustaining cost of US$965 per ounce, up from $762/oz in the previous year. Total cash costs were also...
View ArticleIronbark proves Citronen economic case
The miner now hopes to have financing for the project in Greenland sorted in the next three to six months. That timeframe assumes Chinese banks backing the project, with Ironbark’s long held...
View ArticleCarshares could halt cobalt rise
A trend alongside the move to electric vehicles and automated cars is declining car ownership, with more options around for those not keen to buy. Speaking at the Women in Mining UK battery metals...
View ArticleEldorado to stay in Greece
The Vancouver, Canada-based company threatened about two weeks ago to cut its losses in the country, frustrated by local opposition and delays in permitting for its Olympias and Skouries projects....
View ArticleThe big Russian buy
These were the words Freeport-McMoRan’s vice president of exploration for Eurasia, Vertrees Canby, used when asked by Mining Journal in 2015: ‘Which parts of the Pacific Rim will we hear more about in...
View ArticleDrivers, start your vacuums
Dyson told staff in a letter, the battery technology already in the company’s cordless vacuums and hairdryers could be re-purposed. “Some years ago, observing that automotive firms were not changing...
View ArticleGalantas gets Omagh UG approval
Galantas says the development will be the first underground gold mine of any scale in Northern Ireland. CEO Roland Phelps said the company had a detailed plan to accelerate progress in line with the...
View ArticleSASA one in 150
It has cast its eye over many opportunities to find something that can both make the company a much bigger entity – allowing larger funds to buy its shares – and provide competition with its Kounrad...
View ArticleEuropean Metals joins with Czech gov
The agreement includes maximising downstream processing options within the Czech Republic, investigating suitable locations for processing facilities and co-operating to meet all permitting and...
View ArticleTime to buy Highland Gold
The visiting analysts, Jonathan Guy and Justin Chan, also gave the miner a £2.20 (US$2.90) per share target price, which compares favourably to its current share price of £1.50/share. They noted that...
View ArticleEU EV sales forecast to double by 2020
EU Energy Union Commissioner Maros Sefcovic called for the step-change at a conference in Germany on Monday. Moscow-based head of metals and mining research with VTB Capital Dmitry Glushakov said the...
View ArticleHigh times for Highland
The miner produced 71,767 ounces of gold equivalent from its Mnogovershinnoye (MNV), Novoshirokinskoye (Novo) and Belaya Gora operations in Russia during the quarter, up 14.6% year-on-year. This...
View ArticleCold and tough, is Greenland worth it?
Projects moving towards production include the massive zinc-lead prospect at the top of the country, Citronen, the recently renamed Dundas mineral sands project (formerly Pituffik) and the Kvanefjeld...
View ArticleRecord output for Polymetal
The miner, which has operations in Russia, Kazakhstan and Armenia, produced 470,000 ounces of gold equivalent during the quarter, rising 26% year-on-year. By comparison, its output for the first six...
View ArticleBeowulf hit by Kallak concession delay
The government of Sweden has requested that the County Administrative Board of Norrbotten provide additional information considering matters regarding Laponia and national interests. Laponia is a large...
View ArticlePolyus posts production record
The miner produced 642,000 ounces of gold during the period, up 16% year-on-year, which brought output for the January-September period to 1.58 million ounces. It aims to produce 2.075–2.125Moz in...
View ArticleKisladag in recovery struggle
Vancouver-based Eldorado Gold identified the problem in the second quarter, but said at the time that it expected recovery rates to rebound, and that the ounces not produced this year would be produced...
View ArticleRough quarter for Eldorado
The mid-tier gold producer’s quarterly production fell 5% year-on-year to 70,053 ounces at an all-in sustaining cost of US$925 per ounce, up from $777/oz a year ago. The lower output was mainly...
View ArticleWolf ups RCF funding
Resource Capital Fund has a 56.1% interest in Wolf, holding 609.7 million shares in the company. The funds will be used to progress the Drakelands openpit tungsten and tin mine in the UK, where Wolf...
View ArticleMcMaster and co launch ‘trust me’ firm
Contango Holdings’ (LN:CGO) offering right now is its board: chairman McMaster, Philip Richards of RAB Capital fame and Neal Griffith and Oliver Stansfield from Brandon Hill Capital. McMaster is...
View ArticleAnother challenge for Galantas
Galantas has advised an appeal has been lodged against Belfast High Court’s confirmation in September of the mine’s 2015 planning consent. However it is continuing with accelerated development works at...
View ArticleShefa Yamim to sparkle in London
In relation to the listing, VSA Capital will act as financial advisor and broker to the company. No timeline was given for when the listing will take place. The anticipated net proceeds from the...
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