It has been a busy week in the mining sector, with news on several fronts. First up, Central Copper Resources Limited has confirmed its intention to list on AIM. The company is focused on the development of a high grade copper project and exploration assets in the Democratic Republic of Congo (DRC) and the Republic of Zambia.
Pembridge Resources PLC (LON:PERE) has announced record quarterly production and sales at its Minto mine in the Yukon Territory. It produced 8,323 wet tonnes of concentrate in the second quarter, up from 7,023 in the first quarter.
W Resources PLC (LON:WRES) has announced its highest quarterly production of tungsten concentrate at its La Parrilla mine in Spain in the second quarter at 106.4 tonnes. The company completed construction of its first dam during the quarter, restoring access to high-grade tungsten ore after heavy rains hampered production in the previous quarter.
Horizonte Minerals PLC (LON:HZM, TSX:HZM) has reported “significant progress” at its Araguaia nickel project in Brazil. Bids for the main processing equipment, electric furnace and project management services (EPCM) have been completed and financing negotiations are well advanced.
Premier African Minerals Ltd (LON:PREM) said drilling is underway at its Zulu lithium and tantalum project in Zimbabwe and a second rig is expected to arrive this weekend. The AIM-quoted company also said pegmatite, the main source of lithium, has been encountered as expected in hole ZDD55.
Bradda Head Holdings Limited, the lithium exploration company, said it was raising £6.2 million through a placing on AIM. The company, formerly listed on AIM Life Science Developments Limited and formerly Copper Development Corporation, expects to have a market capitalization of £16.1 million in the placing, based on an offer price of 5.5 pence.
Ariana Resources PLC (LON:AAU) has announced the launch of a fund to evaluate potential investments in discovery stage mineral exploration companies. The wholly owned fund, Asgard Metals Fund, is being developed as part of Ariana’s proprietary Project Catalyst strategy.
CEO of Greatland Gold (LON:GGP) @shaun_day_ is currently visiting the Havieron Project. Pictured here at the official opening of the mine’s portal, which has proudly been named Karlajartu.
$GGP $GGP.L #GreatlandGold #Gold #Exploration #Havieron #Martu pic.twitter.com/uFpcmcHl9X
— Greatland Gold (@GreatlandGold) July 16, 2021
Base Resources Limited (LON:BSE, ASX:BSE) was buoyed by comments from a government official at the conference who said the Kwala special mining license extension (SML 23) has already been approved. The license will be issued shortly, according to a statement from the Cabinet Secretary of the Ministry of Petroleum and Mines at the Kenya Chamber of Mines conference, Base said in a statement.
Anglo Asian Mining PLC (LON:AAZ) increased production slightly in the latest quarter, but kept its current-year forecast of between 64,000 and 72,000 gold equivalent ounces unchanged. The mining company also said it expected to have an initial resource estimate for the new Zafar deposit in Azerbaijan by the end of this month or early next month.
Oracle Power PLC (LON:ORCP) has told investors it believes its two gold projects in Western Australia, Northern Zone and Jundee East, could deliver significant value to shareholders over the medium term. CEO Nahid Memon highlighted the excitement of the company’s results and plans in Western Australia in a statement.
Alien Metals Limited (LON:UFO) said its planned drilling program at the Donovan 2 copper-gold project in Mexico remains unchanged after reviewing new data.
Shares in Castillo Copper Ltd (LON:CCZ) (FRA:7OR) (ASX:CCZ) were up 29% on the day after drilling revealed significant visible copper mineralization at the Big One deposit in the Mt Isa copper belt in Queensland. Hole BO_318RC encountered visible copper mineralization in two distinct zones: 11 metres from 89 to 100 metres and 34 metres from 153 to 187 metres (apparent thickness).
Rio Tinto PLC (LON:RIO) said it expects iron ore and copper supply to remain weak after production of both metals fell in the last quarter.
Costs are also rising, according to the mining company. Iron production costs have increased 4% this year due to higher diesel and labor prices, costs related to mine waste management and the coronavirus (COVID-19).
Pan African Resources PLC (LON:PAF) has announced a 12.3% increase in gold production to 201,608 ounces for the year to the end of June 2021, driven by subway operations at its Barberton and Evander mines in South Africa. Gold production also exceeded the revised production guidance of approximately 195,000 ounces given in May 2021 by 3.4%.
Caerus Mineral Resources PLC (LON:CMRS) and Jubilee Metals Group (LON:JLP) have agreed to immediately commence a pilot sampling and exploration program at Caerus’ copper-gold portfolio in Cyprus. This program is part of an option agreement under which Jubilee can elect to convert one of the many waste sites in the Caerus portfolio into a joint venture.
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