Resources giant BHP Billiton expects to achieve a 15th straight year of record iron ore production after smashing expectations with a 20 per cent boost to annual output in 2013/14.

Analysts believe BHP could also surprise the market with stronger than expected revenues when it delivers its annual financial results in August.

BHP produced 204 million tonnes of iron ore in the Pilbara in 2013/14, the 14th consecutive year of record output, and higher than its initial guidance.

It is forecasting a further 11 per cent rise to 245 million tonnes in this financial year.

Chief executive Andrew Mackenzie said BHP was on track to achieve its target of 16 per cent production growth across all commodities for the two years to the end of June 2015.

"Our focus on productivity has resulted in a significant improvement in operating performance at each of our major businesses this year, with a nine per cent increase in group production and record output at 12 operations," he said....
http://www.sbs.com.au/news/article/2014/07/23/bhp-expects-record-production-continue

BHP expects record production to continue

Mining giant BHP Billiton smashed expectations with a 20 per cent boost in annual iron ore output, and expects more growth ahead.

Resources giant BHP Billiton expects to achieve a 15th straight year of record iron ore production after smashing expectations with a 20 per cent boost to annual output in 2013/14.

Analysts believe BHP could also surprise the market with stronger than expected revenues when it delivers its annual financial results in August.

BHP produced 204 million tonnes of iron ore in the Pilbara in 2013/14, the 14th consecutive year of record output, and higher than its initial guidance....

The Mining Hub
July 24, 2014 8:15:58 AM
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Red Mountain Mining has identified a new high-grade gold target at the Lobo prospect of the Batangas project in southern Luzon. Rock chip sample results of up to 32.7 grams/tonne gold have been returned from the Signal target, which is about 1.5km west of Lobo’s South West Breccia (SWB) deposit.

The surface rock chip sample result sits midway between previous surface rock chip sample results of 72.6 grams/tonne and 42.6 grams/tonne, forming part of a linear northeast trending zone over 500 metres-long. The structure is interpreted to then pass to the northeast under younger limestone cover then under a zone of siliceous material, or a silica cap, that is interpreted to overlay potentially the main area of gold mineralization.

The discovery of a high-grade gold lode trend at Signal coincides with the development of a new target model for the SWB high-grade epithermal gold deposit and other targets at Lobo. The target model is based on similarities between the Lobo prospect and other epithermal gold and copper-gold deposits including the large Lepanto-Far South East porphyry/epithermal gold-copper ore system 250km to the north of Lobo....
http://www.asiaminer.com/news/latest-news/5880-philippines-new-target-identified-at-lobo.html#.U9BPZfmSySo
The Mining Hub
Batangas Projects
July 24, 2014 8:12:47 AM
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Sirius Resources has announced a $189 million capital raising to help fund the development of its Nova nickel project near Balladonia.

The raising will be by way of a placement to institutional and sophisticated investors priced at a discounted $3.82 a share. No shareholder approval is required for the placement. Sirius announced last week that the development of Nova would cost about $473 million.

The mine would have an initial life of 10 years and would deliver $4.5 billion in revenue over the course of its life and net cashflow of $2.7 billion based on a nickel price of $US10 a pound....
https://au.news.yahoo.com/thewest/business/wa/a/24527339/sirius-to-raise-189m-in-placement/

Sirius to raise $189m in placement

Sirius Resources has announced a $189 million capital raising to help fund the development of its Nova nickel project near Balladonia.

The raising will be by way of a placement to institutional and sophisticated investors priced at a discounted $3.82 a share.

No shareholder approval is required for the placement.

Sirius announced last week that the development of Nova would cost about $473 million.

The mine would have an initial life of 10 years and would deliver $4.5 billion in revenue over the course of its life and net cashflow of $2.7 billion based on a nickel price of $US10 a pound....

The Mining Hub
Nova (Fraser Range)
July 24, 2014 8:09:53 AM
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Copper/gold miner Sandfire Resources on Wednesday reported that while copper production from its Western Australia-based DeGrussa mine dropped during the three months to June, production during the full year had increased compared with 2013.

During the June quarter, the DeGrussa operation delivered 17 654 t of copper and 9 288 oz of gold, compared with the 18 098 t of copper and 10 035 oz of gold delivered in the previous quarter.

However, for the year ended June, the operation delivered 67 690 t of copper and 33 893 oz of gold, which compared favourably to the 64 017 t of copper and 42 679 oz of gold delivered in the previous financial year.

Copper production in the June quarter was affected by lower ore grades compared with the previous quarter, which also resulted in C1 cash operating costs for the quarter increasing to $1.18/lb, compared with the $1.08/lb reported in the quarter ended March...
http://www.miningweekly.com/article/copper-production-drops-at-degrussa-in-june-q-2014-07-23

Copper production drops at DeGrussa in June quarter

PERTH (miningweekly.com) – Copper/gold miner Sandfire Resources on Wednesday reported that while copper production from its Western Australia-based DeGrussa mine dropped during the three months to June, production during the full year had increased compared with 2013.

During the June quarter, the DeGrussa operation delivered 17 654 t of copper and 9 288 oz of gold, compared with the 18 098 t of copper and 10 035 oz of gold delivered in the previous quarter.

However, for the year ended June, the operation delivered 67 690 t of copper and 33 893 oz of gold, which compared favourably to the 64 017 t of copper and 42 679 oz of gold delivered in the previous financial year....

The Mining Hub
DeGrussa
July 24, 2014 8:08:06 AM
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Vietnam-focused gold miner Besra has revealed that it suspended operations at its Bong Mieu site, in central Vietnam, as of last Friday and would similarly suspend operations at its nearby Phuoc Son site on Tuesday, for what it ascribed as the direct result of “coercive measures” taken by the provincial Quang Nam tax department.

Besra CEO John Seton explained that the tax department deployed “intimidatory measures” that meant that the embattled company could not, and would not, continue to operate.

“The Quang Nam tax department's actions, [which] appear to be the only case of such measures being applied in all of Vietnam, are in our view illegal and fly in the face of every stated objective of the government of Vietnam towards foreign investment,” he stated.

Besra has faced significant challenges in Vietnam, including a disputed export tax assessment at its Phuoc Son plant and suspended operations at its Bong Mieu mine owing to severe weather conditions, which contributed to the company finding itself in a financial bind. It had agreed to sell a majority stake in the company to a Swiss investor for $14.25-million....
http://www.miningweekly.com/article/besra-suspends-vietnam-ops-2014-07-23

Besra suspends Vietnam ops

TORONTO (miningweekly.com) – Vietnam-focused gold miner Besra has revealed that it suspended operations at its Bong Mieu site, in central Vietnam, as of last Friday and would similarly suspend operations at its nearby Phuoc Son site on Tuesday, for what it ascribed as the direct result of “coercive measures” taken by the provincial Quang Nam tax department.

Besra CEO John Seton explained that the tax department deployed “intimidatory measures” that meant that the embattled company could not, and would not, continue to operate....

The Mining Hub
Bong Mieu
July 24, 2014 8:06:48 AM
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Gold and copper explorer Aruma Resources Limited (ASX: AAJ) announced that its exciting new Bulloo Downs Copper Project in Western Australia has increased in area to more than 2000km2 through the addition of new leases.

--Further leases optioned around Bulloo Downs Project
--Portable XRF assays confirm results from mineralised zones
--Anomalous lead at Keep It Dark Prospect
--High-grade gold values to be resampled and magnetics reinterpreted

Bulloo Downs is considered a premier project with the potential to be a new copper district and contains many mapped deep-seated, structurally controlled potential hydrothermal copper mineralised outcrops. The area is also highly prospective for gold, silver, lead and zinc.....
http://www.commodityonline.com/coilnews/details_nws.php?title=Aruma%20Resources%20announces%20expansion%20of%20Bulloo%20Downs%20Copper%20Project&id=59405&cont=3
The Mining Hub
Bulloo Downs
July 24, 2014 7:46:56 AM
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Dominion Diamond Corp. of Whitehorse, NT, has shared its updated mineral resources and new mine plan for the Ekati diamond mine at Lac de Gras. The Misery Satellite estimate is now inferred, rather than being an exploration target. The deposit contains 3.9 million inferred tonnes containing 5.0 million ct. The material is recoverable using open pit methods.

At this time productions comes from the Misery, Pigeon and Lynx open pits as well as the Koala and Koala North underground mines. The Fox pit was exhausted earlier this year. The Misery Main pipe is being stripped for production in 2016 and lasting two years. Stripping of the Pigeon pit will begin this year, and production from it is to begin in 2016 but continue into 2020.

Dominion noted that the 4.35 t/y Ekati process plant has excess capacity. The company plans to process additional material from Koala North, Misery Northeast and coarse ore reject stockpiles to increase the volume of kimberlite passing through it...
http://www.canadianminingjournal.com/news/diamonds-dominion-updates-ekati-mine-plan/1003169688/

DIAMONDS: Dominion updates Ekati mine plan

NORTHWEST TERRITORIES – Dominion Diamond Corp. of Whitehorse, NT, has shared its updated mineral resources and new mine plan for the Ekati diamond mine at Lac de Gras. The Misery Satellite estimate is now inferred, rather than being an exploration target. The deposit contains 3.9 million inferred tonnes containing 5.0 million ct. The material is recoverable using open pit methods.

At this time productions comes from the Misery, Pigeon and Lynx open pits as well as the Koala and Koala North underground mines. The Fox pit was exhausted earlier this year. The Misery Main pipe is being stripped for production in 2016 and lasting two years. Stripping of the Pigeon pit will begin this year, and production from it is to begin in 2016 but continue into 2020....

The Mining Hub
Ekati
July 24, 2014 7:42:37 AM
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Japan’s Itochu Corporation and Sumitomo Corp are looking distance themselves from coal by selling their combined 45 per cent stake in two of Glencore’s Queensland coal operations.

Itochu has reportedly hired JP Morgan to move its 35 per cent holding, while Sumitomo has called on Rothschild to find a buyer for its 10 per cent interest as the trading companies move away from coal amid a price downturn.

Assets up for grabs include both the Newlands and Collinsville mines as well as access to a coal terminal at Abbot Point....
http://www.miningaustralia.com.au/news/glencore-s-queensland-coal-mines-up-for-sale

Glencore’s Queensland coal mines up for sale

Japan’s Itochu Corporation and Sumitomo Corp are looking distance themselves from coal by selling their combined 45 per cent stake in two of Glencore’s Queensland coal operations.

Itochu has reportedly hired JP Morgan to move its 35 per cent holding, while Sumitomo has called on Rothschild to find a buyer for its 10 per cent interest as the trading companies move away from coal amid a price downturn.

Assets up for grabs include both the Newlands and Collinsville mines as well as access to a coal terminal at Abbot Point....

The Mining Hub
Collinsville
July 24, 2014 7:39:51 AM
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The employer of a worker killed at Fortescue Metals Group’s operation in August last year has been charged for failing to provide a safe working environment.

Electrician Kurt Williams, 24, died on August 14 while working for Crushing Services International (CSI) at the Christmas Creek mine.

Williams was greasing a motor when he was fatally crushed by a ladder attached to a tripper unit at the top of the ore processing facility.

Questions surrounding work practices at the mine site were immediately raised following Williams’ death after it was revealed he was working alone on night shift....
http://www.miningaustralia.com.au/news/contractor-charged-over-death-at-fmg-s-christmas-c

Contractor charged over death at FMG’s Christmas Creek mine

The employer of a worker killed at Fortescue Metals Group’s operation in August last year has been charged for failing to provide a safe working environment.

Electrician Kurt Williams, 24, died on August 14 while working for Crushing Services International (CSI) at the Christmas Creek mine.

Williams was greasing a motor when he was fatally crushed by a ladder attached to a tripper unit at the top of the ore processing facility.

Questions surrounding work practices at the mine site were immediately raised following Williams’ death after it was revealed he was working alone on night shift....

The Mining Hub
Christmas Creek
July 24, 2014 7:37:36 AM
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Mining giant Rio Tinto (ASX, LON:RIO) is said to be fine-tuning details to begin building a new massive pit at its Yandicoogina operation in Australia’s iron ore-rich Pilbara region.

The 70 million tonne-a-year project is meant to replace other Yandicoogina’s areas that are running out of ore, The West Australian reports.

Environmental approval documents released this week by Rio suggest the new pit, known as Pocket and Billiard South, would be about 7.5km long and nearly a kilometre wide. Most importantly, it would become Australia’s biggest iron ore mine, a title currently hold by BHP Billiton's (ASX:BHP) Mt Whaleback mine, the paper adds.

The miner has slated production at the new pit to kick off in 2017, at an initial rate of 28 million tonnes a year.....
http://www.mining.com/rio-tinto-planning-australias-largest-iron-ore-mine-57176/

Rio Tinto planning Australia’s largest iron ore mine

BHP Billiton's  Mt Whaleback mine is currently Australia's biggest iron ore mine.

Mining giant Rio Tinto (ASX, LON:RIO) is said to be fine-tuning details to begin building a new massive pit at its Yandicoogina operation in Australia’s iron ore-rich Pilbara region.

The 70 million tonne-a-year project is meant to replace other Yandicoogina’s areas that are running out of ore, The West Australian reports.

Environmental approval documents released this week by Rio suggest the new pit, known as Pocket and Billiard South, would be about 7.5km long and nearly a kilometre wide. Most importantly, it would become Australia’s biggest iron ore mine, a title currently hold by BHP Billiton's (ASX:BHP) Mt Whaleback mine, the paper adds....

The Mining Hub
Yandicoogina
July 24, 2014 7:35:53 AM
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New Brunswick-based drilling contractor Major Drilling (TSE:MDI) said Monday it has agreed to buy Taurus Drilling Services's operations in a $39 million deal.

In a statement, Major Drilling said that on closing it will pay $15.9 million in cash, $7.5 million in Major Drilling shares and $4.3 million in assumption of debt, adding up to $27.7 million.

On top of this, Major Drilling will pay a maximum of $11.5 million tied to performance, according to the statement. The additional payout period lasts for three years, beginning August 1, with payments contingent on growing EBITDA run rates above current levels.

The purchase will result in Major Drilling–which operates in Canada, the US, Mexico, South America, Australia, Europe, Asia, and Africa–obtaining 39 drill rigs as well as related equipment, inventory and contracts....
http://www.mining.com/major-drilling-to-buy-taurus-drilling-ops-for-39-mln-61237/

Major Drilling to buy Taurus Drilling ops for $39 mln

New Brunswick-based drilling contractor Major Drilling (TSE:MDI) said Monday it has agreed to buy Taurus Drilling Services's operations in a $39 million deal.

In a statement, Major Drilling said that on closing it will pay $15.9 million in cash, $7.5 million in Major Drilling shares and $4.3 million in assumption of debt, adding up to $27.7 million.

On top of this, Major Drilling will pay a maximum of $11.5 million tied to performance, according to the statement. The additional payout period lasts for three years, beginning August 1, with payments contingent on growing EBITDA run rates above current levels....

The Mining Hub
July 24, 2014 7:34:04 AM
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THE BOURSE WHISPERER: Carpentaria Exploration (ASX: CAP) informed the market the Hawsons iron project Joint Venture has secured port access for up to 12 million tonnes per annum of iron ore concentrate through the existing berths at Port Pirie and has also been granted foundation customer status.

Carpentaria said Flinders Ports and the JV have agreed to jointly fund a rail-port-marine study into the best option for exporting 10 to 20mtpa of iron ore to 180,000 tonne vessels (Cape size) through Port Pirie.

Under the agreement the Hawsons JV will have a first right of refusal for export of up to 12mtpa of iron ore concentrate through the port, conditional upon further study cooperation between the parties....
http://www.resourcesroadhouse.com.au/_blog/Resources_Roadhouse/post/carpentaria-announces-hawsons-jv-port-access-deal/
The Mining Hub
July 23, 2014 6:54:39 AM
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A recent exploration program at the Metemana-Metekavil area of Papuan Precious Metals’ New Hanover project has resulted in discovery of a new gold-copper porphyry system.

Field work, including mapping, outcrop sampling and a ridge and spur soil sampling program, identified the new system in the 2km x 5km Randei prospect area, which is open to the coast. The company is awaiting the results of geochemical analysis.

There were 32 mineralized samples collected comprising both outcrop grab and 5 metre channel samples. Copper mineralization in the form of covellite, chalcopyrite, bornite, chalcocite and malachite were observed in these samples. There were 61 soil samples collected over ridges and spurs at 50 metre spacing.

Follow-up activity being considering includes a grid-based soil sampling program to define drill targets....
http://www.asiaminer.com/news/latest-news/5879-papua-new-guinea-new-system-discovered-at-new-hanover.html#.U87m6fmSySo
The Mining Hub
New Hanover
July 23, 2014 6:36:14 AM
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Australia's largest gold miner Newcrest is preparing to fight a class action by shareholders hurt by a massive financial writedown in 2013.

The move comes a month after Newcrest was fined $1.2 million by the corporate watchdog for selectively providing market sensitive information to analysts.

Newcrest Mining downgraded its production forecasts and reduced the value of its assets by more than $6 billion on June 7, 2013, partly due to the significant fall in the gold price.

Law firm Slater and Gordon on Monday filed proceedings in the Federal Court in Melbourne on behalf of investors who bought shares in Newcrest between August 13, 2012, and June 6, 2013.

The claim alleges Newcrest had no reasonable grounds to issue its August 2012 gold production forecast, and misled and deceived investors leading up to June 2013.

Newcrest on Tuesday said it would "vigorously defend" itself against the claims....
http://www.sbs.com.au/news/article/2014/07/22/newcrest-fight-court-action

Newcrest to fight court action

Newcrest says it will "vigorously" defend itself in a class action brought by shareholders after the gold miner's $6b asset writedown.

Australia's largest gold miner Newcrest is preparing to fight a class action by shareholders hurt by a massive financial writedown in 2013.

The move comes a month after Newcrest was fined $1.2 million by the corporate watchdog for selectively providing market sensitive information to analysts.

Newcrest Mining downgraded its production forecasts and reduced the value of its assets by more than $6 billion on June 7, 2013, partly due to the significant fall in the gold price....

The Mining Hub
July 23, 2014 6:32:31 AM
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Shares in Thundelarra Resources have been placed in a trading halt pending an announcement about a capital raising.

Shares in the explorer have spiked in recent weeks to a three-year high of 36 cents over high grade copper hits at its Red Bore prospect in the Doolgunna region near Meekatharra.

Thundelarra shares last traded yesterday for 23.5 cents. ...
https://au.news.yahoo.com/thewest/business/wa/a/24517579/thundelarra-flags-capital-raising/

Thundelarra flags capital raising

Shares in Thundelarra Resources have been placed in a trading halt pending an announcement about a capital raising.

Shares in the explorer have spiked in recent weeks to a three-year high of 36 cents over high grade copper hits at its Red Bore prospect in the Doolgunna region near Meekatharra.

Thundelarra shares last traded yesterday for 23.5 cents....

The Mining Hub
Red Bore
July 23, 2014 6:29:12 AM
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Blackham Resources has moved to limit fallout from an ugly battle between sacked chairman Joe Gutnick and the rest of its board by holding a shareholder showdown "as soon as possible" to settle control of the gold aspirant.

It came as it appointed 6.3 per cent shareholder Paul Murphy as chairman, replacing Mr Gutnick.

The Bryan Dixon-run Blackham yesterday also announced another group of investors, owning 19 per cent, had requisitioned a meeting of shareholders to remove Mr Gutnick from the board.

Blackham said it intended to hold the meeting on the same day as the one called by Mr Gutnick on Friday, so investors could vote on "which board members they believe are best positioned to move the Matilda gold project into production and add value for all shareholders"....
https://au.news.yahoo.com/thewest/business/wa/a/24517047/investors-set-to-axe-gutnick/

Investors set to axe Gutnick

Blackham Resources has moved to limit fallout from an ugly battle between sacked chairman Joe Gutnick and the rest of its board by holding a shareholder showdown "as soon as possible" to settle control of the gold aspirant.

It came as it appointed 6.3 per cent shareholder Paul Murphy as chairman, replacing Mr Gutnick.

The Bryan Dixon-run Blackham yesterday also announced another group of investors, owning 19 per cent, had requisitioned a meeting of shareholders to remove Mr Gutnick from the board....

The Mining Hub
Matilda
July 23, 2014 6:05:00 AM
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Gold miner Newcrest Mining is facing class action, after it admitted to breaching ASX disclosure rules.

The miner reported on Tuesday that law firm Slater & Gordon had been instructed to start representative proceedings in the Federal Court against Newcrest.

Last month, the gold miner admitted to breaching the disclosure laws after an investigation by the Australian Securities and Investment Commission (Asic).

The Asic accusations related to a series of briefings to analysts in 2013, in which Newcrest disclosed information regarding the company’s expected gold production for the 2013/14 financial year and information regarding its expected capital expenditure for the 2013/14 financial year.

The industry watchdog applied to the Federal Court seeking a declaration of two contraventions, and aggregate civil penalties of A$1.2-million, which the Federal Court granted in July....
http://www.miningweekly.com/article/newcrest-faces-class-action-over-disclosure-breaches-2014-07-22

Newcrest faces class action over disclosure breaches

PERTH (miningweekly.com) – Gold miner Newcrest Mining is facing class action, after it admitted to breaching ASX disclosure rules.

The miner reported on Tuesday that law firm Slater & Gordon had been instructed to start representative proceedings in the Federal Court against Newcrest.

Last month, the gold miner admitted to breaching the disclosure laws after an investigation by the Australian Securities and Investment Commission (Asic).

The Asic accusations related to a series of briefings to analysts in 2013, in which Newcrest disclosed information regarding the company’s expected gold production for the 2013/14 financial year and information regarding its expected capital expenditure for the 2013/14 financial year....

The Mining Hub
July 23, 2014 6:00:09 AM
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Coal developer Bandanna Energy was facing one less impediment to the development of its Springsure Creek coal project, in Queensland, after a second objection to the project was withdrawn.

In April this year, the ASX-listed Bandanna announced that only six objections had been received at the end of the public notification period for the Springsure Creek project’s three mining lease applications.

Of the six objections, three were from directly-affected landowners, two from remote landowners in relation to groundwater, and one from a community group.

Bandanna said on Tuesday that it would continue to work closely with the remaining four objectors and was seeking to resolve the objections within the coming weeks.

The company previously said that the timing of the construction of the Springsure Creek project remained uncertain, as Bandanna worked to finalise the project approvals, as well as secure the required funding....
http://www.miningweekly.com/article/bandanna-resolves-some-springsure-creek-objections-2014-07-22

Bandanna resolves some Springsure Creek objections

PERTH (miningweekly.com) – Coal developer Bandanna Energy was facing one less impediment to the development of its Springsure Creek coal project, in Queensland, after a second objection to the project was withdrawn.

In April this year, the ASX-listed Bandanna announced that only six objections had been received at the end of the public notification period for the Springsure Creek project’s three mining lease applications.

Of the six objections, three were from directly-affected landowners, two from remote landowners in relation to groundwater, and one from a community group....

The Mining Hub
Springsure Creek
July 23, 2014 5:56:34 AM
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Winnipeg-based junior miner San Gold (TSX: SGR) is merging with Toronto-based explorer and developer Kerr Mines (TSX: KER), where the former intends to transfer its turnaround plan at the Rice Lake complex to Kerr’s recently acquired Copperstone gold mine in Arizona, in a move that will put it closer to becoming a mid-tier producer.

The proposed all-share combination reflects San Gold’s new strategy of controlling costs and running high grade mines at optimum levels to “match the geometry of the orebodies,” the company’s president Gestur Kristjansson said in a release.

Not too long ago, San Gold suffered from setting its production targets too high and not being able to meet them at its Rice Lake complex near Bissett, MB. This frustrated investors as it was operating the three mines within that complex, namely 007, Hinge and Rice Lake, at a loss.....
http://www.canadianminingjournal.com/news/san-gold-to-merge-with-kerr-mines/1003169681/

San Gold to merge with Kerr Mines

Winnipeg-based junior miner San Gold (TSX: SGR) is merging with Toronto-based explorer and developer Kerr Mines (TSX: KER), where the former intends to transfer its turnaround plan at the Rice Lake complex to Kerr’s recently acquired Copperstone gold mine in Arizona, in a move that will put it closer to becoming a mid-tier producer.

The proposed all-share combination reflects San Gold’s new strategy of controlling costs and running high grade mines at optimum levels to “match the geometry of the orebodies,” the company’s president Gestur Kristjansson said in a release....

The Mining Hub
Rice Lake
July 23, 2014 5:50:42 AM
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Australia’s mining industry has been touched by the tragedy of downed flight MH17, with the untimely loss of the children of Buxton Resources managing director Anthony Maslin.

Buxton announced today that Maslin would take personal leave for an indefinite period.

Day-to-day operations of the company will be handled by chairman Seamus Cornelius and other members of the board and company officers.

Maslin’s children, 10 year-old Evie, 12 year-old Mo and 8 year-old Otis were travelling with their 68 year-old grandfather Nick Norris on Malaysian Airlines flight MH17 when the Boing 777 was shot down by Ukrainian pro-Russian separatists....
http://www.miningaustralia.com.au/news/mh17-tragedy-strikes-wa-mining-industry-md

MH17 tragedy strikes WA mining industry MD

Australia’s mining industry has been touched by the tragedy of downed flight MH17, with the untimely loss of the children of Buxton Resources managing director Anthony Maslin.

Buxton announced today that Maslin would take personal leave for an indefinite period.

Day-to-day operations of the company will be handled by chairman Seamus Cornelius and other members of the board and company officers.

Maslin’s children, 10 year-old Evie, 12 year-old Mo and 8 year-old Otis were travelling with their 68 year-old grandfather Nick Norris on Malaysian Airlines flight MH17 when the Boing 777 was shot down by Ukrainian pro-Russian separatists....

The Mining Hub
July 23, 2014 5:48:14 AM
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If you’re a junior miner in the market for quality used mining equipment, you may have missed a golden auction opportunity at Mount Isa last week.

Buyers from around Australia converged on the mining town to pick through more than 500 items no longer required by Mount Isa Mines.

The company holds a used equipment auction on site, once every 18 to 24 months.

Supply manager at Mt Isa mines Hugh Werrett said the auction enhanced the company’s sustainable development performance while presenting a valuable opportunity for buyers to secure quality items.

“The auction means our retired equipment and disused materials are given a new life elsewhere,” he said...
http://www.miningaustralia.com.au/news/mt-isa-mines-attracts-junior-miners-on-the-hunt-fo

Mt Isa Mines attracts junior miners on the hunt for auction bargains

If you’re a junior miner in the market for quality used mining equipment, you may have missed a golden auction opportunity at Mount Isa last week.

Buyers from around Australia converged on the mining town to pick through more than 500 items no longer required by Mount Isa Mines.

The company holds a used equipment auction on site, once every 18 to 24 months.

Supply manager at Mt Isa mines Hugh Werrett said the auction enhanced the company’s sustainable development performance while presenting a valuable opportunity for buyers to secure quality items....

The Mining Hub
Mount Isa (Cu orebodies)
July 23, 2014 5:45:13 AM
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Japan’s Itochu Corp (TYO:8001) and Sumitomo Corp (TYO:8053) are looking to sell a combined 45% interest in the NCA Project coal venture operated by Glencore PLC (LON:GLEN) in Australia.

According to The Wall Street Journal, Itochu has hired JP Morgan to help it find a buyer for its 35% interest and Sumitomo has enlisted Rothschild to advise it on selling its 10% stake as the Japanese trading companies move to reduce their exposure to mining amid a commodity price downturn.

The NCA Project involves central Queensland’s Newlands and Collinsville mines, which are able to produce 17 million tonnes of thermal coal and coking coal per year, the newspaper said.

But mine managers have recently cut output below peak levels to protect profits, with coal prices near multiyear lows, it said. Thermal coal is used for power generation and coking coal for steelmaking....
http://www.mining.com/itochu-sumitomo-seek-to-sell-glencore-stake-19280/

Itochu, Sumitomo seek to sell Glencore stake

Japan’s Itochu Corp (TYO:8001) and Sumitomo Corp (TYO:8053) are looking to sell a combined 45% interest in the NCA Project coal venture operated by Glencore PLC (LON:GLEN) in Australia.

According to The Wall Street Journal, Itochu has hired JP Morgan to help it find a buyer for its 35% interest and Sumitomo has enlisted Rothschild to advise it on selling its 10% stake as the Japanese trading companies move to reduce their exposure to mining amid a commodity price downturn.

The NCA Project involves central Queensland’s Newlands and Collinsville mines, which are able to produce 17 million tonnes of thermal coal and coking coal per year, the newspaper said....

The Mining Hub
Collinsville
July 23, 2014 5:39:35 AM
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Meridium®, Inc. (www.meridium.com), the global leader in asset performance management (APM) software and services, today announced that mining solutions leader Joy Global will implement Meridium’s APM software across its global Life Cycle Management (LCM) business units for both surface and underground mining equipment. Joy Global will use the Meridium tools to predict and prevent asset failures and enhance maintenance strategies, increasing equipment uptime and improving service contract performance.

“Having already realized the benefits from an earlier Meridium implementation for Joy Global Surface Mining, we are confident in Meridium’s ability to deliver outstanding value to both the Surface and Underground sides of the business,” said Matt Beaudry, Program Manager Life Cycle Management at Joy Global. “Through our partnership with Meridium, we will be able to better integrate prognostics with our maintenance strategies and optimize equipment performance for our customers.”...
http://www.mining.com/web/joy-global-picks-meridium-to-optimize-asset-performance-and-equipment-reliability/

Joy Global picks Meridium to optimize asset performance and equipment reliability

Meridium®, Inc. (www.meridium.com), the global leader in asset performance management (APM) software and services, today announced that mining solutions leader Joy Global will implement Meridium’s APM software across its global Life Cycle Management (LCM) business units for both surface and underground mining equipment.  Joy Global will use the Meridium tools to predict and prevent asset failures and enhance maintenance strategies, increasing equipment uptime and improving service contract perfo...

The Mining Hub
July 23, 2014 5:37:54 AM
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New Brunswick-based drilling contractor Major Drilling (TSE:MDI) said Monday it has agreed to buy Taurus Drilling Services's operations in a $39 million deal.

In a statement, Major Drilling said that on closing it will pay $15.9 million in cash, $7.5 million in Major Drilling shares and $4.3 million in assumption of debt, adding up to $27.7 million.

On top of this, Major Drilling will pay a maximum of $11.5 million tied to performance, according to the statement. The additional payout period lasts for three years, beginning August 1, with payments contingent on growing EBITDA run rates above current levels.

The purchase will result in Major Drilling–which operates in Canada, the US, Mexico, South America, Australia, Europe, Asia, and Africa–obtaining 39 drill rigs as well as related equipment, inventory and contracts.

http://www.mining.com/major-drilling-to-buy-taurus-drilling-ops-for-39-mln-61237/

Major Drilling to buy Taurus Drilling ops for $39 mln

New Brunswick-based drilling contractor Major Drilling (TSE:MDI) said Monday it has agreed to buy Taurus Drilling Services's operations in a $39 million deal.

In a statement, Major Drilling said that on closing it will pay $15.9 million in cash, $7.5 million in Major Drilling shares and $4.3 million in assumption of debt, adding up to $27.7 million.

On top of this, Major Drilling will pay a maximum of $11.5 million tied to performance, according to the statement. The additional payout period lasts for three years, beginning August 1, with payments contingent on growing EBITDA run rates above current levels....

The Mining Hub
July 22, 2014 1:46:02 PM
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Visible gold and copper sulphides have been identified in the first two trenches completed in this year’s field program at the Aucu deposit of White Cliff Minerals’ Chanach project in the western part of the Tien Shan Belt.

The trenches contain extensive zones of copper and gold mineralization and in some samples visible gold and chalcopyrite were identified.

Best trench channel sample results are: 10 metres @ 2.94% copper and 8 grams/tonne gold, including 3 metres @ 7l7% copper and 19.8 grams/tonne gold; and 22 metres @ 2.5 grams/tonne gold, including 4 metres @ 4.5 grams/tonne gold and 5 metres @ 5.5 grams/tonne gold.

The trenches were designed to extend and deepen the high-grade mineralization reported in January this year. They have confirmed the initial results and have extended the initial mineralization to the south. Multiple additional smaller zones of copper and gold mineralization were also identified surrounding the major mineralized zones which strike west-north-west and dip steeply to the southwest....
http://www.asiaminer.com/news/latest-news/5881-kyrgyz-republic-visible-gold-and-copper-in-aucu-trenches.html#.U82ugPmSySo
The Mining Hub
Chanach
July 22, 2014 8:22:36 AM
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Business confidence is in for a boost following the repeal of the "dead weight" carbon tax, business leaders say. Australian Chamber of Commerce and Industry (ACCI) chief executive Kate Carnell says businesses will "breathe a sigh of relief" now that the tax has gone.

"The carbon tax was a dead weight on the Australian economy and abolishing it is a win for consumers, a win for energy users and a win for business," she said on Thursday. "Abolishing the carbon tax should help stimulate business and economic growth and help restore all-important investment confidence."

The Australian Industry Group also welcomed the repeal of the tax, but said the process had been marred by political gamesmanship. "While we have a positive outcome, the process leading up to it was unfortunately chaotic and opaque," AiG chief executive Innes Willox said. "We strongly urge all parties to ensure that future legislative changes can be considered in detail and consulted with business and others who are affected well before a vote."
http://www.sbs.com.au/news/article/2014/07/17/carbox-tax-axe-boosts-investor-confidence

Carbox tax axe boosts investor confidence

Australian business leaders say the abolition of the carbon tax will help restore confidence.

Business confidence is in for a boost following the repeal of the "dead weight" carbon tax, business leaders say.

Australian Chamber of Commerce and Industry (ACCI) chief executive Kate Carnell says businesses will "breathe a sigh of relief" now that the tax has gone.

"The carbon tax was a dead weight on the Australian economy and abolishing it is a win for consumers, a win for energy users and a win for business," she said on Thursday....

The Mining Hub
July 22, 2014 8:19:27 AM
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An increasingly bitter dispute between the Indian owner of Collie's Griffin Coal mine and its main contractor could be headed for the courts.

In a potentially serious development for the security of power supplies in the South West, it is understood negotiations between Carna Civil and Min- ing and Lanco Infratech have deteriorated. Carna, the Waroona-based business that has managed Griffin since last year, suspended operations on Thursday amid a row over allegedly unpaid debts owed by Lanco.

The contractor is believed to have claimed it is owed between $20 million and $30 million, a figure Lanco disputes....
https://au.news.yahoo.com/thewest/business/wa/a/24516984/lanco-carna-talks-tank/

Lanco, Carna talks tank

An increasingly bitter dispute between the Indian owner of Collie's Griffin Coal mine and its main contractor could be headed for the courts.

In a potentially serious development for the security of power supplies in the South West, it is understood negotiations between Carna Civil and Min- ing and Lanco Infratech have deteriorated.

Carna, the Waroona-based business that has managed Griffin since last year, suspended operations on Thursday amid a row over allegedly unpaid debts owed by Lanco.

The contractor is believed to have claimed it is owed between $20 million and $30 million, a figure Lanco disputes....

The Mining Hub
Ewington
July 22, 2014 8:08:25 AM
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Nickel miner Poseidon Nickel on Monday revealed plans to pre-start engineering activities at its recently acquired Black Swan nickel plant.

The miner has placed several contracts to undertake work on the plant, including supplying key financial and technical data for an integrated operation that would include up to 600 000 t/y of Windarra ore, combined with 500 000 t/y of Black Swan ore, which would be processed through the existing plant.

The scope of the work would include a geological review, plant re-commissioning studies and an operating cost budget.

Poseidon intended to have the work completed by the end of July. The ASX-listed miner acquired the Black Swan operation, in Western Australia, from Russian Major Norilsk Nickel for an undisclosed amount. The project consists of a 2.15-million-tonne-a-year plant and an openpit mine estimated to contain about 185 800 t of nickel....
http://www.miningweekly.com/article/poseidon-reveals-plans-for-black-swan-2014-07-21

Poseidon reveals plans for Black Swan

PERTH (miningweekly.com) – Nickel miner Poseidon Nickel on Monday revealed plans to pre-start engineering activities at its recently acquired Black Swan nickel plant.

The miner has placed several contracts to undertake work on the plant, including supplying key financial and technical data for an integrated operation that would include up to 600 000 t/y of Windarra ore, combined with 500 000 t/y of Black Swan ore, which would be processed through the existing plant.

The scope of the work would include a geological review, plant re-commissioning studies and an operating cost budget....

The Mining Hub
Black Swan
July 22, 2014 8:04:11 AM
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Gold miner AngloGold Ashanti has inked an infrastructure agreement with natural gas infrastructure group APA Group for the transportation of natural gas to the Sunrise Dam and Tropicana gold mines, in Western Australia.

APA would construct a new 292 km pipeline which would connect its Goldfields Gas Pipeline through the lateral pipeline at the Murrin Murrin nickel mine, and extend it past Sunrise Dam to Tropicana. Construction would start in February next year, and first gas at Tropicana was expected in January 2016.

The pipeline and associated infrastructure would be constructed for a total capital cost of A$140-million. “Gas power generation is expected to reduce cash operating costs at both sites between A$25/oz and A$30/oz,” said AngloGold Ashanti senior VP for Australia Michael Erickson....
http://www.miningweekly.com/article/anglogold-ashanti-signs-gas-supply-for-tropicana-2014-07-21

AngloGold Ashanti signs gas supply for Tropicana

PERTH (miningweekly.com) – Gold miner AngloGold Ashanti has inked an infrastructure agreement with natural gas infrastructure group APA Group for the transportation of natural gas to the Sunrise Dam and Tropicana gold mines, in Western Australia.

APA would construct a new 292 km pipeline which would connect its Goldfields Gas Pipeline through the lateral pipeline at the Murrin Murrin nickel mine, and extend it past Sunrise Dam to Tropicana.

Construction would start in February next year, and first gas at Tropicana was expected in January 2016....

The Mining Hub
Tropicana
July 22, 2014 8:02:16 AM
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Sirius Resources NL (ASX:SIR) announced that further nickel sulphide mineralisation has been identified in the second reconnaissance hole (SPBD0047) drilled more than 1 kilometre north along strike of the high grade massive nickel sulphide mineralisation recently intersected in reconnaissance diamond drill hole SPBD0046 at the Taipan prospect.
--Disseminated and blebby nickel sulphide mineralisation in second reconnaissance hole SPBD0047 over 1km north of the Taipan discovery hole
--Several historic EM conductors confirmed on the Taipan trend
--Nickel sulphide mineralisation now identified over 5 km along the Halls Knoll-Taipan trend demonstrating the exceptional prospectivity of this underexplored region
--Drilling program being planned to follow up the massive nickel sulphide mineralisation recently intersected in hole SPBD0046 and to systematically test the trend
--Once current hole is complete, the rig will move to Nova to start precollars for diamond holes planned to test the newly identified EM conductor beneath nova
--Follow up EM surveys of Halls Knoll-Taipan trend to commence in 2 weeks

This is an outstanding result given it is located at a significant distance from the Taipan discovery hole, and that the company has now identified nickel sulphide mineralisation in numerous drillholes covering 5 kilometres of strike....
http://www.commodityonline.com/news/sirius-resources-reports-further-nickel-sulphide-discovery-at-taipan-prospect-59376-3-59377.html
The Mining Hub
July 22, 2014 7:26:16 AM
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