Russian gold miner Polyus profit dented by currency losses

MINEX Forum | November 8, 2018
img0 Polyus, Russia’s largest gold producer, on Wednesday reported third-quarter net profit down 61 percent from a year ago to $144 million due to foreign exchange losses and other non-cash items. The company controlled by Said Kerimov, son of Russian tycoon Suleiman Kerimov, has not been targeted by the U.S. sanctions against Moscow. Washington included Suleiman ...

Sweden’s Epiroc invests in autonomous mining solutions business

MINEX Forum | November 8, 2018
img0 Epiroc, a Sweden-based productivity partner for the mining, infrastructure and natural resources industries, has acquired part of ASI Mining, LLC, a U.S.-based company that provides technology solutions for the autonomous operation of mining vehicles. Epiroc has acquired 34% of ASI Mining, which is based in Mendon, Utah, United States, and is a subsidiary of Autonomous ...

Adriatic Metals strikes highest-grade polymetallic intercept at Rupice

MINEX Forum | November 5, 2018
img0 UK-based explorer Adriatic Metals (ASX: ADT) has made its highest-grade intercept to date during an ongoing drilling campaign at the Rupice zinc, lead, silver, gold, copper and barium deposit within the Vareš project in Bosnia and Herzegovina. Assay results from two new drill holes have confirmed the continuity of thick, high-grade mineralisation and precious metals ...

ArcelorMittal remains upbeat as US steel tariffs drive up prices

MINEX Forum | November 2, 2018
img0 ArcelorMittal, the world’s largest steelmaker, expects its financial results to improve in the coming months as global economic growth drives demand and U.S. tariffs lead to higher prices for the metal. Arcelor reported a 42 percent year-on-year increase in third-quarter core profit (EBITDA) to $2.73 billion, roughly in-line with analyst expectations, while sales rose 5 ...

Chaarat Gold says Centerra refused C$2B offer for firm, not just Kumtor

MINEX Forum | November 2, 2018
img0 Chaarat Gold Holdings (LON:CGH), the company that tried and failed to buy Centerra Gold’s (TSX:CG) Kumtor mine in Kyrgyzstan, revealed Wednesday the Canadian miner turned down an unconventional takeover offer, valued at about C$2 billion (roughly $1.52B), for the entire company. The Central Asia-focused gold miner last month proposed buying the Toronto-based company in an ...

Chaarat Gold buys Armenian mine from Russia’s Polymetal for $55m

MINEX FORUM | November 1, 2018
img0 Chaarat Gold Holdings (LON:CGH), the company that tried buying Centerra’s Kumtor mine in the Kyrgyz Republic, has agreed to acquire Kapan gold mine in Armenia from Polymetal, one of Russia’s largest gold and silver producers. The $55 million deal is part of Chaarat’s intention of becoming a major regional player in Central Asia, with an ...

Russia’s Nornickel boosts Q3 output at its copper project

MINEX Forum | November 1, 2018
img0 Production at Russia’s Norilsk Nickel (Nornickel) Bystrinsky copper project near the Chinese border surged in the third quarter, the company said on Wednesday, indicating that it was making progress fixing a problem with equipment. Nornickel, controlled by Russian billionaire Vladimir Potanin and aluminium giant Rusal, launched the mine a year ago with an aim to ...

Rio Tinto developing new chemical procedure to process jadarite in Serbia

MINEX Forum | November 1, 2018
img0 Research and development in Melbourne’s outer suburbs is paving the way for a unique new mineral with the potential to supply a significant portion of global demand for lithium and borates. Rio Tinto’s Technical Development Centre in Bundoora, in collaboration with the company’s team of global experts, is developing a new chemical procedure to process ...

Mundoro Announces Drill Program at Two of Its Licenses in Timok Serbia

MINEX Forum | October 31, 2018
img0 Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) (“Mundoro” or the “Company“) is pleased to announce two drill rigs have been mobilized to commence a drill program at the Savinac and Bacevica exploration licenses. The drill program is being sole funded by Freeport-McMoRan Exploration Corporation (“Freeport“) as part of an earn-in agreement (“Agreement“), in which Mundoro has granted Freeport ...