South African mining services firm Master Drilling has identified opportunities in new international markets after challenging conditions in its home market contributed to modest revenue growth in the first six months of the year. The group reported a 3.8% increase in revenue to US$70 million in the...
ASX-listed Australian Vanadium has been given ‘major project status’ by the Australian federal government for its flagship deposit, located in Murchison Province, Western Australia. The granting of ‘major project status’ lasts for three years and provides formal recognition of the national strategic significance of the Australian...
AIM-listed miner Scotgold Resources has estimated ‘significantly improved’ returns from its Cononish gold and silver project in Scotland, in light of recent improvements in the gold price. In a project update, Scotgold said it had re-estimated its life of mine financial model for Cononish, with the...
Fortescue Metals Group (FMG) made a record $3.19 billion in profit in the 12 months to end June, enabling it to pay out a bumper dividend of AUS$1.14. Surging iron ore prices over the last year helped the Australian iron ore miner more than double its...
Mining companies operating in Mali will lose their right to value-added tax exemption during production, amongst other regulatory changes contained in a new mining code announced by the Mines Ministry. The new code in Mali will also shorten the ‘stability period’ during which miners’ existing investments...
BHP’s chief executive Andrew Mackenzie has warned that the rising tide of nationalist sentiment poses a threat to global economic growth and mining sector profitability, despite the company reporting a 2% rise in underlying profit for the full year 2019 and declaring a record dividend. The...
West African countries will drive the next gold mining boom in Africa as the industry continues to decline in Southern Africa, according to the continent’s largest asset manager Public Investment Corporation (PIC). Investor-friendly policies and low cost deposits in countries such as Ghana, Mali, Burkina Faso,...
Family-run, South African drilling company Rosond has secured a contract with Kumba Iron ore worth R2 billion, replacing larger firms Master Drilling and Geoserve Exploration Drilling at two mines in the Northern Cape. Rosond has worked on a greenfield exploration drilling programme for Anglo American-owned Kumba...
The Peruvian Ministry of Energy and Mines has temporarily suspended a construction licence given to Southern Copper for its US$1.4 billion Tía María copper project in the Arequipa region of Peru, following protests from local farmers. Energy and Mines Minister Francisco Ismodes told local TV station Canal N...
Glencore has announced it will halt production at a major cobalt mine in the Democratic Republic of Congo (DRC) after the commodities giant reported its weakest profits in three years for the first half of 2019. The decision to shutter the Mutanda project for two years...