News Archive


IAMGOLD prepares for drilling at Dalafin

It has almost finished mobilising drilling equipment on the site and then will start a 5,750m drilling programme at the project’s Madina Bafé prospect.

The company has completed reviewing all historical drill core and reverse circulation (RC) chips and said regolith mapping was also being digitalised.

Kingston commences major drilling program at 2.8Moz Misima Gold Project

Kingston commences major drilling program at 2.8Moz…


RESOURCEStocks QA: John Mair, Greenland Minerals and Energy

RESOURCEStocks QA: John Mair, Greenland Minerals and…


Southern Silver keeps hitting goals

Southern Silver keeps hitting goals


RESOURCEStocks QA: Christian Easterday, Hot Chili

RESOURCEStocks QA: Christian Easterday, Hot Chili…


Country Investment Profile - Greenland

Country Investment Profile – Greenland


MICROMINE to issue latest version of 3D modelling  mine planning software

MICROMINE to issue latest version of 3D modelling …


Valor Resources identifies significant high grade mineralisation at surface

Valor Resources identifies significant high grade mineralisation…


Alt sees new fizz in Bottle Creek

Alt sees new fizz in Bottle Creek


Capricorn moves fast to launch

Capricorn moves fast to launch


Metals X powers up

Metals X powers up


The drilling programme will include 3,000m of air core drilling for 570 holes, 2,000m of RC drill holes, and 750m of diamond core drilling to test previous results.

Exploration at the project is part of an initial US$4 million earn-in to 51% of Dalafin signed in March, with the property currently 85%-owned by Stratex International.

After the initial four-year exploration period, IAMGOLD has the option to increase its interest to 70% by spending a further $4 million over two years. The Madina Bafé prospect is contiguous with its Boto gold project.

Stratex’s previously undertook trenching, mapping, and sampling programmes at Madina Bafé, which  confirmed a north-east-striking mineralised zone in the south-east of the prospect, with mineralisation comprising sheeted tourmaline-quartz veins and quartz-tourmaline breccias.

Its own RC and diamond core drilling intersected 15m at 6.1g/t gold, 9.6m at 16.08g/t gold and 1.5m at 2.84g/t gold, indicating depth-continuity of the zone.

Stratex CEO Tim Livesey said IAMGOLD was working quickly towards its earn-in and it expected strong news flow on Dalafin in the coming months.

Article source: http://www.mining-journal.com/feasibility/news/1339382/iamgold-prepares-for-drilling-at-dalafin

Exclusive: Russia’s Deripaska empire bets on mid-summer plan to escape U.S. sanctions

LONDON (Reuters) – The aluminum empire of Russian magnate Oleg Deripaska is in close contact with the U.S. Treasury, but needs until mid-summer to come up with a plan to meet U.S. requirements to escape sanctions, the chairman of its holding company told Reuters.

FILE PHOTO: Oleg Deripaska, En+ Group’s major shareholder, attends an agreement signing ceremony with the Krasnoyarsk region’s government, in Moscow, Russia December 12, 2017. REUTERS/Sergei Karpukhin/File Photo

The U.S. Treasury in April imposed sanctions against billionaire Deripaska and the eight companies in which he is a large shareholder, including giant aluminum exporter Rusal, in response to what it called “malign activities” by Russia.

Following pressure to soften its stance from business groups, Washington suggested it might lift the sanctions against Rusal and parent En+ if Deripaska cut his En+ stake to below 50 percent and introduced independent board members.

Under the current sanctions, U.S. businesses need to wind down aluminum trading with Rusal by October, while trading in Rusal’s and En+’s shares and debt should be discontinued by June 5.

En+ chairman Greg Barker told Reuters he had asked the U.S. Treasury to extend the license to carry on trading the shares until September while he works on fleshing out a plan to get En+ and Rusal off the sanctions list.

“We are seeking an extension of the general license to allow us the time to put together the remaining building blocs in order to present a finalised proposal to the U.S. government by mid summer,” Barker said in a phone interview.

Deripaska controls 66 percent of En+, which in turn controls 48 percent of Rusal. Discussions over reducing Deripaska’s stake could be complicated by the fact his ex-wife Polina also controls 5.8 percent of En+.

Barker, who met Irish business minister Heather Humphreys on Thursday, is seeking the support of Ireland to persuade the Treasury to back the plan.

“The Irish government has been very engaged with Rusal to find ways in which they can mitigate the impact of sanctions. I will be going (to Dublin) with a very clear message,” he told Reuters on Wednesday.

Rusal is the parent company of Aughinish Alumina in County Limerick, Ireland, which employs around 450 workers. The Askeaton company refines imported bauxite into alumina which is a major ingredient in the manufacturing of aluminum.

Additional reporting and writing by Dmitry Zhdannikov; Editing by Mark Potter

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/onZAZSAkTaI/exclusive-russias-deripaska-empire-bets-on-mid-summer-plan-to-escape-u-s-sanctions-idUSKCN1IW1BK

Maiden JORC ore reserve for Mowana

The probable and proved ore reserve estimate announced Thursday was 31.8 million tonnes at 1.17% copper for 370,000 tonnes of contained copper metals, based on a DMS mine plan.

The planned integration of DMS will enable the plant to produce an average of about 21,000t per annum of copper, peaking at 27,000tpa in the third year, at average all-in sustaining costs of US$5,038 per tonne over a newly extended 14-year life of mine.

RESOURCEStocks QA: Mustang's Christiaan Jordaan

RESOURCEStocks QA: Mustang’s Christiaan Jordaan


RESOURCEStocks QA: Australian Mines' Benjamin Bell

RESOURCEStocks QA: Australian Mines’ Benjamin Bell…


RESOURCEStocks QA: Southern Gold's Simon Mitchell

RESOURCEStocks QA: Southern Gold’s Simon Mitchell…


Nevada Copper re-stocked, reloaded

Nevada Copper re-stocked, reloaded


Kin lays the foundations for Growth

Kin lays the foundations for Growth


The reserve gives the project a post-tax net present value (8%) of $272.8 million taking into account a copper price of $3 per pound ($6,613.86 per tonne).

Cradle has also updated its April measured and indicated mineral resource estimate by 37% to 55Mt at 1.17% Cu for 640,000t of contained copper, while a portion of the inferred resource was also transferred into the indicated resource category.

It noted that inferred resource material of 3.7Mt at 0.93% Cu for 34,500t of contained copper was being treated as waste in the LOM schedule and could provide further potential upside if the resource confidence was ultimately improved into the measured and indicated categories.

Cradle CEO Kevin van Wouw said the completed reserve estimate and mineral resource upgrade showed the scale and long-term commercial value potential of Mowana. 

He said the recently implemented accelerated development plan should allow Mowana to reach steady-state production and positive cash flows quicker and would also enable management to make a final decision on the implementation of the DMS upgrades.

Looking at current operations, Van Wouw said Mowana mining operations had been ramping up over the past six weeks, with two mining units operating full time in the openpit, giving access to ores below the 960 level.

Cradle noted the first 40,000t blast of transitional ore was produced in mid-May and demonstrated process recoveries in-line with the mining reserve plan.

“The company is pleased to confirm that the recoveries are within the range expected. Whilst it is too early to perform a more detailed reconciliation to the mining reserve and detailed mining schedules, the company intends to carry out such reconciliations next month and thereafter provide a more detailed report in an operational update for the quarter,” the company said.

Cradle Arc’s shares were up 12.5% after the announcement to 9p (US12c).

 

Article source: http://www.mining-journal.com/resource-definition/news/1339381/maiden-jorc-ore-reserve-for-mowana

U.S. Commerce Department to announce section 232 tariff changes

WASHINGTON (Reuters) – U.S. Commerce Secretary Wilbur Ross will hold a news briefing at 9 a.m. (1300 GMT) to announce “Section 232” national security-related tariff modifications, the U.S. Commerce Department said in a statement on Thursday.

FILE PHOTO: U.S. Commerce Secretary Wilbur Ross testifies before a Senate Commerce, Justice, Science, and Related Agencies Subcommittee holds a hearing on the FY2019 funding request and budget justification for the Commerce Department on Capitol Hill in Washington, U.S., May 10, 2018. REUTERS/Yuri Gripas

The announcement comes after two sources said Washington will announce plans to impose tariffs on EU steel and aluminum imports as early as Thursday. A magazine separately reported that President Donald Trump wanted to push German cars out of the United States.

Reporting by Susan Heavey and Tim Ahmann; Editing by Chizu Nomiyama

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/qsfKc3NkfTA/u-s-commerce-department-to-announce-section-232-tariff-changes-idUSKCN1IW1PN

Workers to vote on ‘micro union’ at Boeing South Carolina plant

NORTH CHARLESTON, S.C. (Reuters) – A small group of workers at Boeing Co’s South Carolina jetliner factory is voting on Thursday on whether to form a “micro union,” despite efforts by Boeing to challenge the election.

FILE PHOTO: A Boeing logo is pictured during the European Business Aviation Convention Exhibition (EBACE) at Geneva Airport, Switzerland May 28, 2018. REUTERS/Denis Balibouse/File Photo

The National Labor Relations Board said last week that 178 Boeing flight-line readiness technicians and technician inspectors could lawfully take a vote on whether to join the International Association of Machinists and Aerospace Workers, and set the election for Thursday.

In a motion filed last week to the labor regulators, Boeing called the proposed bargaining unit “an artificially gerrymandered sub-set of employees.”

Boeing asked them either to stay the election or impound the ballots pending a decision on whether the small bargaining unit is lawful. On Wednesday, the NLRB denied Boeing’s request, according to a copy of the board’s order sent to union organizers.

Boeing did not immediately respond to a request for comment. The go-ahead for the vote came five months after the labor board in another case made it easier for companies to challenge micro unions, reversing an Obama-era decision that had been sharply criticized by companies.

Forming smaller bargaining units can be a key organizing strategy for unions, particularly when they lack support from a majority of an employer’s workforce. But business groups say that smaller bargaining units fracture workplaces.

This is the machinists’ third attempt to organize Boeing workers at the company’s only jetliner assembly plant outside Washington state. Boeing employs about 6,800 people at the North Charleston plant, which makes 787 Dreamliners and is the only site that assembles the largest version, the 787-10.Boeing workers voted 2,097-731 last year to reject the union, Boeing said in documents filed with the NRLB.

In 2015, the union withdrew a vote petition, citing “a toxic environment and gross violations of workers’ lawful organizing rights.” South Carolina is a “right-to-work” state, one of 28 states that bar unions from requiring workers to join up as a condition of employment.

Some workers at the factory want the union to help with pay, the lack of opportunity to become managers, sudden schedule changes and mandatory weekend overtime work.”There’s a large contingent on the flight line that asked IAM to come back this year and organize us,” Curtis Williams, 52, a flight-line readiness technician, said on Wednesday.

Workers received a raise last year, but flight-line technicians at the plant earn about 30 percent less than their counterparts in Washington state, Williams said.The machinists’ union represents about 30,000 workers at Boeing’s factories in Washington state and has 600,000 members, including active retirees.

Reporting by Harriet McLeod; Editing by Alwyn Scott and Peter Cooney

Article source: http://feeds.reuters.com/~r/reuters/businessNews/~3/URc5HIkM0jQ/workers-to-vote-on-micro-union-at-boeing-south-carolina-plant-idUSKCN1IW1DH

Big deals next as mining investment cycle turns

First production, and a loss, for Northern Vertex in…


Profit Loss

31 MAY 2018

Article source: http://www.mining-journal.com/events-coverage/news/1339376/big-deals-next-as-mining-investment-cycle-turns

FMG kicks off new era in the Pilbara

First production, and a loss, for Northern Vertex in…


Profit Loss

31 MAY 2018

Article source: http://www.mining-journal.com/bulks/news/1339375/fmg-kicks-off-new-era-in-the-pilbara

High-grade lithium hit at Kodal’s Bougouni

It said the intersections from follow-up and extension drilling were deeper than previously seen, but were likely to come to or near the surface.

The intersections included 21m at 1.6% lithium from 87m, 14m at 1.53% Li2O from 92m, 11m at 1.42% Li2O from 151m, and 10m at 1.59% Li2O from 189m.

It's back to the future for North Carolina lithium developer

It’s back to the future for North Carolina lithium…


Butcherbird poised for development

Butcherbird poised for development


Neo Lithium takes the fast track to success

Neo Lithium takes the fast track to success


RESOURCEStocks QA: John Mair, Greenland Minerals and Energy

RESOURCEStocks QA: John Mair, Greenland Minerals and…


eCobalt's primary cobalt solution

eCobalt’s primary cobalt solution


RESOURCEStocks QA: Australian Mines' Benjamin Bell

RESOURCEStocks QA: Australian Mines’ Benjamin Bell…


The company noted the pegmatite veins intersected were spodumene rich, (20-30% content) low mica pegmatite bodies, with spodumene the main lithium bearing mineral in most hard rock lithium deposits. 

Kodal said the intersections had been estimated using a 1% Li2O lower-cut and had consistently high mineralisation throughout the pegmatite bodies.

“The high-grade lithium mineralisation returned in the assays compares favourably with other hard rock spodumene mineralised pegmatite veins under development around the world where grades range from 1.1% Li2O through to 1.4% Li2O,” it said. 

The drilling also confirmed and extended previous intersection and the mineralisation remained open at depth and along strike.

Kodal was waiting for results from the next 25 drill holes that are pending assay.

Kodal CEO Bernard Aylward said the intersections continued to highlight the potential of the Sogola-Baoule prospect. 

“We are awaiting the assay results of drill holes testing the eastern extension that has initially outlined a consistent, wide pegmatite vein on multiple sections and we will report these as soon as received,” he said.

SP Angel said further drill holes of over 5m intersection showed consistently good grades and indicated the project’s economic potential when compared with other hard-rock pegmatite lithium projects globally.

Kodal has returned the exploration drill rig to Sogola-Baoule and Aylward said its was remaining active on site with step-out drilling continuing and maximising the time left of the field season to complete drilling of key prospects.

It is targeting the eastern extension of the main pegmatite vein with drilling in 50m intervals over another 400m of strike length.

“This work will be very important in our assessment of future development potential as we look to develop our maiden resource estimate over the wet season,” he said.

Kodal previously reported that tests by large lithium carbonate producer by Shandong Ruifu Lithium had produced a high-quality, low impurity battery grade lithium carbonate from Bougouni’s spodumene concentrate.

 

Article source: http://www.mining-journal.com/energy-minerals/news/1339370/high-grade-lithium-hit-at-kodals-bougouni

BlueRock raises funds for Kareevlei’s K1 development

It issued 29.2 million ordinary shares at 1.2p per new share to be admitted to trading on AIM on or around June 6. After the placement, the company’s share capital will comprise 202.3 million ordinary shares.

The company said it expected to start mining at Pipe 1 in the September quarter and its development was ahead of schedule, with 107,000 tonnes of waste already mined and the first kimberlite blast expected in the next month.

RESOURCEStocks QA: Southern Gold's Simon Mitchell

RESOURCEStocks QA: Southern Gold’s Simon Mitchell…


eCobalt's primary cobalt solution

eCobalt’s primary cobalt solution


RESOURCEStocks QA: Australian Mines' Benjamin Bell

RESOURCEStocks QA: Australian Mines’ Benjamin Bell…


Digging Deep: A closer look at underground mining ventilation and services

Digging Deep: A closer look at underground mining ventilation…


Geobank 2018 is now available for download

Geobank 2018 is now available for download


Pipe 1 is similar in geology and size to Pipe 2, where mining operations began in 2015, but its inferred grade was 40% higher at 6.3 carats per hundred tonnes.

BlueRock’s last fundraising for £500,000 in March allowed it to upgrade its crushing and processing plants to increase efficiencies and reliability.

It said the crushing circuit was averaging around 1,350t per day — equivalent to over 28,000t a month — and daily volumes were expected to increase further once the company completed the final changes to the crushing plant in June.

BlueRock CEO Adam Waugh said the company was continuing to look for ways to increase production levels.

“We are excited about beginning to mine K1 with the prospect of a significant increase in grade,” he said.

BlueRock kept its 2018 guidance unchanged at 275,000t at an average grade of 3.5-4.5cpht and revenue of US$362 per carat.

The Kareevlei mine has five known diamondiferous kimberlite pipes, with the inferred mineral resource based on three of the pipes, K1, K2 and K3, while the remaining two pipes were smaller.

BlueRock’s shares were down 18.03% Thursday to 1.25p.

Article source: http://www.mining-journal.com/project-finance/news/1339364/bluerock-raises-funds-for-kareevleis-k1-development