News

After 10 years of trying to develop an iron ore mine in Brazil has prepared Centaurus Metals for what could be a company-making project – in nickel (reports Tim Treadgold on MiningNews).

After 10 years of trying to develop an iron ore mine in Brazil has prepared Centaurus Metals for what could be a company-making project – in nickel (reports Tim Treadgold on MiningNews). The switch can be put down to two issues. It's hard to be a small iron ore miner in a country better known for the world-class projects operated by Brazil's national mining champion, Vale, and it helps that Vale is keen to see its smaller base metal discoveries developed as "mini-mines".

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Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets

Just as one swallow does not a summer make, according to an old proverb, neither does one week of falling gold and rising copper signal a sea-change in investment markets – but it could, and that’s interesting. The switch, so modest that not many people noticed, saw gold slip by $64 an ounce to around $US1491/oz and copper rise by US10 cents a pound to $US2.62/lb. In percentage terms, those moves look a little more thought-provoking because they are both roughly 4% - gold down by 4%, copper up by 4%.

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Fresh from a $2.2m capital raising and a 1-for-60 share consolidation, Marindi Metals (ASX:MZN) is ready to hit the ground running with a maiden drill program about to begin at its flagship Forrestania gold project in WA (reports Stockhead). Led by former Northern Star Resources (ASX:NST) chief geologist Simon Lawson, Marindi has been quietly working up a series of targets at the Kit Kat gold prospect, located within its extensive 700sqkm tenement package in the Forrestania belt.

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Long time Brazil-focused Centaurus Metals (ASX: CTM) has attracted A$10 million in new funding for its new Jaguar nickel sulphide exploration project, including headline North American capital markets firm Sprott (reports MiningNews). The investors are paying 1c per share for the new equity, with the funding going towards resource drilling, other exploration activities, metallurgical and environmental study work, and vendor payments. 

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13th September 2019

There was a time there back in 2016 when it looked as if the Australian nickel industry would wither away to nothing (reports Barry FitzGerald on MiningNews). he industry was in survival mode in response to the crash in nickel prices from 2011's magical annual average peak of US$10.36/lb to 2016's miserable $4.35/lb. At the big end of town, BHP wanted out of Nickel West and was no longer investing in the metal, First Quantum was a year away from mothballing Ravensthorpe, and there were question marks over the ability of Glencore's Murrin Murrin to survive.

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6th September 2019

Tiddler Valor Resources is turning its gaze towards the Western Australian Goldfields with an agreement to acquire an interest in the high-grade Radio mine near Southern Cross in Western Australia (reports MiningNews). Valor's Berenguela copper-silver-manganese project in southeast Peru was recently joint ventured out to Rio Tinto's Kennecott Exploration Company, and with that project in hand it is looking to establish a gold revenue stream by early 2020.

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Sandfire chief says this longer-term outlook means now is the time to get set for the next cycle. Plus, African minister’s appearance at local conference fuels hopes that its Mining Right is imminent.

Copper producers are rightly feeling a bit glum, most of them anyway. Prices for the bellwether of global economic activity have slipped in recent months to an uninspiring $US2.56/lb. That compares with the average price for the first half of the calendar year of $US2.80/lb and the 2018 calendar year average of $US2.96/lb. As noted recently by BHP’s VP of markets analysis and economics, Huw McKay, copper is being heavily influenced by the whipsawing of expectations with respect to the US–China trade confrontation.

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Kambalda-area miner Mincor Resources has delivered a substantial increase in tonnes at its greenfields Cassini nickel sulphide discovery at the southern end of the Widgiemooltha Dome, as it continues to refocus on the metal after its dalliance with gold (reports MiningNews). Cassini now hosts 37,800t of the metal, an increase of 33%, with a high-grade 9300t averaging 4.5% nickel confirming the discovery is "one of the largest and highest grade deposits" in Western Australia's Kambalda district.

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