Artemis completes Radio Hill buy
ASX-listed junior Artemis Resources has completed the acquisition of the Radio Hill nickel/copper/cobalt project in Western Australia, along with $2-million of overseas institutional funding.
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Universal doubles NCC reserves
South Africa-focused coal miner Universal Coal has doubled the ore reserve at its New Clydesdale colliery, in South Africa.
Universal on Thursday reported a 28.94-million tonne increase in the ore reserves at New Clydesdale, taking the ore reserve estimate to 58.24-million tonnes and confirming a mine life of more than 20-years.
Tawana raises A$15m for Bald Hill
ASX-listed Tawana Resources will raise A$15-million through a share placement to advance the Bald Hill lithium and tantalum project, in Western Australia, to commissioning by late 2017.
Tawana on Thursday said that it has received firm commitments from domestic and offshore institutional investors for the placement of 60-million new fully paid ordinary shares, priced at 25c each.
Sherritt narrows Q1 headline loss
Canadian diversified miner Sherritt International has increased headline earnings in the March quarter as significantly higher nickel, cobalt and oil prices boosted the bottom line.
The Toronto-based company reported a loss, adjusted for special items, totalling C$82.7-million, or C$0.25 a share for the first three months of the year.
India to offer coal blocks to private investors for alternative fuel production projects
To open up a larger window for commercial mining of coal by private investors, having recently decided to permit such private operators in the coal mining sector, the Indian government has started identifying additional coal blocks to be auctioned for exclusive extraction of alternative fuel.
BHP cuts coking coal, copper guidance, narrows iron-ore range
Diversified major BHP Billiton on Wednesday lowered its metallurgical coal and copper production targets, narrowed its iron-ore guidance and said that it plans to sell some noncore US shale gas acreage.
Bligh makes a U-turn on Bundarra sale
The directors of ASX-listed Bligh Resources have withdrawn their support of a bid by gold miner Saracen Mineral Holdings to acquire the Bundarra gold project, in Western Australia, after shareholder Zeta Resources increased its offer price.
Neometals looking for third-party buyer
ASX-listed Neometals is looking for a third-party buyer for its 13.8% interest in the Reed Industrial Minerals joint venture (JV), after its JV partners failed to take the bait.
Neometals in early April announced plans to divest of its stake in the JV vehicle, which owns the Mt Marion lithium project in Western Australia, for $96-million.
Jameson lowers capital cost estimate for Canada project
An updated prefeasibility study (PFS) into the Crown Mountain coking coal project, in Canada, has reduced the capital cost estimate from the $339.7-million anticipated in the original 2014 PFS, to $281-million.
Capital costs could be reduced further by leasing or using low-hour used equipment, ASX-listed Jameson Resources said on Wednesday.
Barrick earmarks $500m for Argentina mine after spill
Barrick Gold has earmarked $500-million over five years for upgrades and expansions to its Veladero mine, in Argentina, COO Richard Williams said on Tuesday, four weeks after a third cyanide solution spill at the mine.