Diamond miner De Beers on Tuesday reported that the value of its rough diamond sales for cycle two of the year was $490-million, compared with $500-million in cycle one and $563-million in cycle two of 2018. This brings the provisional total for rough diamond sales to date this year to $990-million.
ASX-listed Orion Minerals on Tuesday announced that it had signed a renewable energy generation collaboration agreement with Juwi Renewable Energies South Africa to investigate the renewable energy generation potential at the Prieska zinc/copper project, in South Africa’s Northern Cape province. The preliminary scope of the collaboration is to assess the feasibility of a dedicated 35 MW solar and wind hybrid power plant for the project.
Engineering management group DRA Global’s basic engineering services contract on the Kakula mine portion of the greater Kamoa-Kakula copper project, in the Democratic Republic of Congo (DRC), is progressing well and is anticipated to be complete by mid-2019. The mine is being developed by Kamoa Copper – a joint venture between Ivanhoe Mines, Zijin Mining Group and the DRC government.
NYSE-listed Newmont Mining Corporation’s board of directors has unanimously determined that NYSE- and TSX-listed Barrick Gold Corporation made an unsolicited, all-stock negative premium proposal to acquire Newmont, which was not in the best interest of shareholders. The Newmont board undertook a comprehensive review of the offer, in consultation with its financial and legal advisers, and found that Barrick’s proposal does not constitute a superior proposal, as is defined in the arrangement agreement between Newmont and NSE- and TSX-listed Goldcorp.
Aim-listed Hummingbird Resources has announced its third set of drilling results from the recently completed exploration campaign at the Yanfolila gold mine, in Mali. The drilling was aimed at converting resources to reserves and, in time, extending the mine life.
Aim-listed Oriole Resources on Monday confirmed that its exploration partner Iamgold would restart exploration at the Dalafin gold project, in Senegal, next month. The first results from the 2019 drilling programme are expected to be available late in the second quarter or early in the third quarter.
ASX-listed Heron Resources on Monday announced that wet commissioning had started at the process plant of its Woodlawn base metals project, in New South Wales. The only remaining step in commissioning the project was to feed ore through the plant. Once completed, the company would transition to a producer of base metal concentrates.
Natural Resources Minister Amarjeet Sohi on Sunday unveiled the Canadian Minerals and Metals Plan (CMMP), but it failed to win the support of Ontario and Saskatchewan. Sohi described the plan as a “generational initiative”, which would raise Canadians' awareness of the importance of the minerals and metals sector, respond to challenges and help position Canada to play a pivotal role in supplying minerals and metals to power a cleaner global economy.
Diversified miner African Rainbow Minerals (ARM) achieved a 13% increase in headline earning to R2.2-billion for the six months ended December 31, 2018, compared with R1.9-billion in the six months ended December 31, 2017. The company, which is led by chairperson Patrice Motsepe and CEO Mike Schmidt, on Friday reported headline earnings a share of R11.49, compared with R10.23 in the prior comparable period.
A preliminary economic assessment (PEA) conducted by TSX-V-listed Pure Gold Mining for its Fork, Russet South and Wedge deposits has demonstrated the potential to add about $51-million to the Madsen gold project’s after-tax net present value. As a result of high gold grades, near surface resources and use of existing infrastructure, mining of these zones will yield a 39% after-tax internal rate of return.