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JAKARTA - Copper miner Freeport-McMoRan Inc must pay Indonesia 460 billion rupiah ($32 million) in royalties for thousands of hectares of protected forest it used without a permit, Indonesia's Supreme Audit Agency (BPK) said on Wednesday.A 2017 state audit of operations at Freeport Indonesia's Grasberg copper mine, the world's second largest, pointed to the miner's use of more than 4,000 hectares...Read More
It was a great year for Africa-focused Gem Diamonds (LON:GEMD), as the company recovered a record number of huge precious stones from its flagship Let??eng mine in Lesotho.With the two latest, a high quality 101 carat and 71 carat white Type IIa diamond, both recovered within a 24-hour period, the number of stones over 100 carats dug up at the mine reached a record 14, the company said Wednesday...Read More
After five years of negotiations, Havilah Resources (ASX: HAV) has signed a Native Title Mining Agreement for its Kalkaroo copper-cobalt-gold project, northeast of Adelaide in South Australia.Kalkaroo is believed to be the largest undeveloped open pit copper-gold deposit in Australia on a copper-equivalent ore reserve basis. The signing of the new deal increases Havilah's chances of being granted...Read More
Following months of speculation on its ability to buy new assets, Canadian miner Hudbay Minerals (TSX, NYSE: HBM) announced today it has completed the acquisition of all of the issued and outstanding common shares of Mason Resources (TSX:MNR) it did not already own. Each common share was bought at a price of C$0.40.The transaction was closed for about C$31 million, as Hudbay took over the remainin...Read More
MELBOURNE - Australia's Kidman Resources has signed a preliminary deal to supply lithium hydroxide to LG Chem Ltd of South Korea, Kidman said on Wednesday, as suppliers to the electric vehicle industry rush to secure raw materials for a boom in demand.Kidman will supply 12,000 tonnes of lithium hydroxide a year to the diversified chemicals company for 10 years A final deal is expected by July 31,...Read More
The Marac??s Menchen MineLargo Resources (TSX: LGO; US-OTC: LGORF) drilled 24 holes totalling 4,223 metres during phase two drilling at its Novo Amparo Norte (NAN) vanadium deposit. The deposit lies 6.5 km north of Largo's Campbell pit at its Maracas Menchen vanadium mine in Bahia State, Brazil. NAN is the northernmost zone of known mineralization at the project.Highlights from the program's first...Read More
JOHANNESBURG - A South African union has filed an appeal to overturn a mining deal in which Sibanye-Stillwater intends to acquire rival Lonmin , Sibanye said on Wednesday.The Association of Mineworkers and Construction Union (AMCU), protesting to job cuts related to the deal, launched an appeal with the Competition Appeals Court. The union's action comes almost a month after the Competition Tribun...Read More
ONTARIO - Toronto-based North American Palladium has signed a major mine development contract with Redpath Canada of North Bay, Ont. Redpath. The expansion will double the capacity of the mine and mill to 12,000 t/d from 6,000 t/d. The project is 85 km northwest of Thunder Bay.The contractor will conduct underground development for a major expansion at the Lac des Iles palladium mine. To access or...Read More
SPOKANE, WA - The American Exploration & Mining Association (AEMA) honored NOVAGOLD Resources Inc. with AEMA's Platinum Award for Corporate Excellence at its 124th Annual Meeting earlier this month in Spokane, WA. The award was presented to NOVAGOLD for designing the Donlin Gold project to incorporate a strong culture of safety, environmental stewardship, and community engagement with the potentia...Read More
Preliminary results from a bulk sample taken at its Windfall Lake deposit in Quebec delivered an average head grade of 9.7 grams gold per tonne and 5.5 grams silver per tonne, Osisko Mining (TSX: OSK) reports.The sample head grade from Zone 27 is 39% higher than indicated in the resource block model for the area, a "strong result" and "an early Christmas gift to our shareholders," John Burzynski,...Read More
Pretium Resources Inc. (TSX,NYSE:PVG) has closed on the previously announced $480 million debt facility to refinance its existing construction credit facility.The company has also repurchased 100% of the callable 8% gold and silver stream that was sold as part of the construction financing package for the development of the Brucejack gold-silver mine in British Columbia.Last week, Pretium reported...Read More
Scotgold Resources (LON: SGZ), the company aiming at opening Scotland's first commercial gold and silver mine, said Wednesday that it was ready is to start rock-breaking in the new year after receiving the green light.The company, which completed 19 permitting conditions and other related obligations for its Cononish project, near Tyndrum, said the Loch Lomond and the Trossachs National Park Pla...Read More
SASKATCHEWAN - UEX Corporation has released the maiden resource estimate for its 60% owned Christie Lake uranium joint venture. JCU (Canada) Exploration Co. is the 40% owner of the project located 9 km northeast of and along strike of the McArthur River uranium mine in the Athabasca Basin.The project is still in the early stages, and the drill holes were widely spaced, but the inferred resource is...Read More
The news that President Trump and his administration are willing to negotiate with China over trade barriers means that a trade war could be averted, boosting the optimism surrounding the outlook for the world economy. While some economists and analysts are predicting a global slowdown heading into 2019, if a trade war between the world's two largest economies is avoided, then growth should impro...Read More
Nighthawk Gold is eagerly awaiting the construction of a 97 km all weather, gravel road from about 40 km south of Behchoko to the community of Whati. The company's flagship Indin Lake exploration project would benefit from a shortened ice road to the site.The Indin Lake property includes the former Colomac gold mine that produced more than 525,000 oz. of gold in the 1990s. Nighthawk acquired the m...Read More
Bravada Gold (TSXV: BVA) (OTCQB: BGAVF) today announced an option/joint venture agreement has been fully executed with OceanaGold, giving the company the option to earn up to a 75% interest in Bravada's Highland gold-silver project in Nevada's Walker Lane Gold trend.The Highland project consists of 102 Federal lode claims for a total of approximately 825 hectares and is located along the Walker...Read More
Precious gemstones miner Gemfields (JSE: GML) has announced that the Zambia Revenue Authority (ZRA) has cleared its Kagem emerald mine following a probe into alleged tax evasion.During an unannounced visit in August, the ZRA seized documents and files including those allegedly used to evade payment of Value Added Tax (VAT), income tax, with-holding tax and other taxes.Probe was part of a wider eff...Read More
Junior explorer Supreme Metals (TSXV: ABJ) has identified a large magnetic anomaly on its Bloom Lake East property in Labrador, about 2.5 km to the east of Champion Iron Mines' (TSX: CIA) flagship Bloom Lake open-pit mine and mill near Fermont in Quebec.The 2.5 km long magnetic anomaly, defined in a recent magnetometer survey done by drone, is about 15 km from the Wabush mines of Iron Ore Compa...Read More