Polyus ups profit in March quarter

MINEX Forum | May 31, 2018
img0 Russia gold producer Polyus (LSE:PLZL) saw profit rise year-on-year in the March quarter, although revenue, EBITDA and net debt were all mostly steady. Adjusted net profit for the quarter was 10% higher than a year ago at US$223 million, while revenue edged up 1% to $743 million. Its adjusted EBITDA was also 1% higher on ...

Russia’s Severalmaz testing drones for surveying

MINEX Forum | May 31, 2018
img0 Russian diamond mining company Severalmaz, a subsidiary of State-owned Alrosa, is testing unmanned aerial vehicles (UAVs) for mine surveying of land objects at Europe’s largest primary diamond deposit at Lomonosov. Preliminary results from the UAV testing, which involved a quadcopter and an aeroplane, indicate that mine surveying could be done faster, safer and at a ...

Newly-minted Infinity Lithium advances San Jose

MINEX Forum | May 29, 2018
img0 Newly-minted Infinity Lithium Corp (ASX: INF) is on a pathway to take the company and the advanced San Jose lithium-tin project in Spain to the next level. In this RESOURCEStocks Q&A, managing director Adrian Byass gives an update on the new name and current trajectory. RESOURCEStocks: It’s been less than a month since the company, previously ...

European Lithium chairman buys more shares

MINEX Forum | May 29, 2018
img0 European Lithium chairman buys more shares. He recently received pre-feasibility study valued Wolfsberg at $441.9 million. European Lithium Ltd (ASX:EUR) chairman Tony Sage has recently increased his shareholding in the company. Sage recently purchased 509,181 shares increasing his total interest in the company to over 7.1 million shares. by

Scientists one step closer to producing more efficient lithium-ion batteries

MINEX Forum | May 29, 2018
img0 Scientists from the U.S. Department of Energy’s Ames Laboratory discovered a first-of-its-kind copper and graphite combination that, they say, could have implications for improving the energy efficiency of lithium-ion batteries. The discovery took place after they bombarded graphite in an ultra-high vacuum environment with ions to create surface defects. Copper was then deposited on the ...

Jet engines help power cobalt to 10-year highs

MINEX Forum | May 25, 2018
img0 The spotlight in the cobalt market has been fixed on electric vehicles but shrinking supply and robust demand from traditional sectors such as jet engine makers are helping fuel a price rally that shows no signs of fading. Cobalt in recent years has become synonymous with electric vehicles as it is used in rechargeable lithium-ion ...

Kazakhstan starts export of uranium to Brazil

MINEX Forum | May 25, 2018
img0 Kazakhstan’s national company Kazatomprom delivered the first batch of uranium to Brazil, the company’s press service said in a message. “The National Atomic Company of Kazakhstan is expanding the geography of its products supply in the world nuclear fuel market. Kazatomprom JSC won an international tender for the supply of natural uranium concentrates for the ...

Siberia’s mining potential grows due to global warming

MINEX Forum | May 24, 2018
img0 Russia’s Siberian region, which is rich in coal, gold and many other minerals, remains relatively unexploited, as its challenging landscape and harsh weather conditions hamper the exploration. However, melting ice and permafrost are potentially easing the mining process, so the situation is likely to change. As the Siberian land becomes more accessible because of global ...

Nordgold reports lower Q1 production, Gross mine construction on track

MINEX Forum | May 24, 2018
img0 Aim-listed gold miner Nordgold produced 225 100 gold-equivalent ounces in the first quarter of this year – a 6% year-on-year and 10% quarter-on-quarter decrease. Revenue increased by 2% year-on-year to $300-million for the period, as a result of of the higher average realised goldprice, but decreased by 6% quarter-on-quarter, owing to lower sales volumes. Nordgold’s ...