The Briefing on Mining
The latest news, trends and data from the mining industry
Mining in Numbers
Most of the world’s production of uranium is centred in Kazakhstan, which was responsible for 39% of the world’s production in 2017, ahead of Canada, which accounted for 22% of global production in the same year.
Electricity consumers in Slovakia currently pay around €115m every year to support coal mining in the country; however, households are expected to stop supporting the industry by 2023, according to the country’s economy minister.
Saudi Arabia’s King Salman w ill inaugurate the Waad Al-Shamaal project, which is a city for mining industries in the country’s northern region. The project will cost over $22bn and will create 10,000 jobs.
Analysis of action results by EY suggest that the value of the Australian mining fleet had increased by 7.5% over the past 18 months, as the buoyant resources sector breathes life back into the mining services sector.
UK-based Sirius Minerals, the company behind a £3.2bn polyhalite mine in Yorkshire, is creating 50 apprenticeships. The four-year long apprenticeships will provide skilled and long-term opportunities for young people across the local area.
Kentucky bill to empower doctors to assess black lung
The bill will empower more doctors to diagnose cases of black lung in miners
Lawmakers have filed a bill to be considered at next year’s session of the Kentucky Legislature that aims to empower more doctors to treat cases of black lung disease, a respiratory condition affecting coal miners.
The bill, filed by Democrat Angie Hatton and Republican Robert Goforth, would remove the condition that a doctor must be a certified pulmonologist to have their opinions heard in relation to miner compensation.
Hatton said: “At a time when we’re seeing a spike in black lung, especially in Eastern Kentucky, many legislators unfortunately decided to make it tougher for miners in these cases to qualify for the workers’ comp benefits they deserve.”
Read the original article on the Herald-Leader.
In the News
Top Project News This Month
Kodal Minerals hits mineralisation at Bougouni project
Kodal Minerals has encountered lithium mineralisation during diamond drilling at the Bougouni lithium project in Southern Mali. The company reported intersections from the first two diamond drill holes at the Sogala-Baoule and Boumou prospects on the project. During the next campaign, Kodal will target the Boumou prospect in an effort to expand the mineralised zone.
Alrosa starts production at Verkhne-Munskoye diamond mine
Alrosa has commenced commercial diamond production at its Verkhne-Munskoye diamond field in Yakutia, Russia, in an effort to increase the group’s production and compensate for the decreased output at other projects. The company noted that the new diamond field has enough reserves to support mining operations for at least 20 years, with an annual production of 1.8 million carats.
Xanadu reports resources upgrade at Kharmagtai project
Xanadu Mines has reported a significant increase to the mineral resource estimate at its Kharmagtai copper-gold project in the South Gobi region of Mongolia. The new estimate represents a 400% increase in contained copper and a 249% increase in contained gold within the open cut mine. It includes results from diamond core drilling and reverse circulation percussion drilling.
This Month's Top Deals
Zijin gets approvals for Nevsun acquisition
Chinese firm Zijin Mining Group has secured approvals from Chinese and Canadian authorities for its proposed $1.4bm acquisition of Nevsun Resources. Under the terms of the offer, the Chinese firm will pay $4.55 per Nevsun share, which represents a 26% increase over the $3.59 per share hostile acquisition bid made by Lundin Mining in July.
Source: The Citizen
Stanmore receives $175.78m takeover bid
Stanmore Coal has received an off-market takeover offer from Golden Investments (Australia), a joint venture company owned by Golden Energy and Resources and Ascend Global Investment Fund. Under the terms of the offer, Golden Investments intends to acquire up to 100% of Stanmore Coal in return for $0.95 in cash per share.
Source: Universe Today
Golden Reign acquires Marlin Gold
Golden Reign Resources has completed the acquisition of Marlin Gold Mining and renamed itself as Mako Mining. Mako’s primary focus will be on Golden Reign’s San Albino gold deposit in northern Nicaragua and Marline’s La Trinidad gold mine in Sinalao, Mexico. Both companies are based in Canada.
Source: New York Times
Silver Lake, Doray Minerals enter merger
Silver Lake and Doray Minerals have entered a merger agreement to form a mid-tier gold producer. Silver Lake shareholders will own a 62.7% interest of the entity, while Doray shareholders will hold the remaining 37.3% interest. The agreement will combine the companies' Mount Monger and Deflector high-grade gold operations.
Source: Science Alert
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