Proactive weekly mining round-up: Rio Tinto, Greatland Gold, Kavango Resources…

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Greatland Gold PLC (LON:GGP) has commenced drilling under the Juri joint venture with partner Newcrest Mining Ltd (ASX:NCM). The Juri joint venture is in the highly prospective Paterson province of Western Australia.


Rio Tinto PLC (LON:RIO) said production in the first quarter was in line with guidance despite significant rainfall hampering iron ore output in Australia. The international mining group also retained its output expectations for the year and continued to show contrition for the destruction of a 46,000-year-old Aboriginal heritage site in Juukan Gorge.


Polymetal International PLC (LON:POLY) said revenue in the first quarter increased 20% year-on-year to US$593mln (GBP426mln) as a result of higher gold and silver prices and improved production.


Anglo American PLC (LON:AAL) said its coal production fell in the first quarter and reduced its full-year output guidance for both metallurgical and thermal coal. Thermal coal production dropped 20% from the year-earlier quarter to 4.9 million tonnes (Mt), with guidance for the year cut to about 14 Mt, from about 24 Mt, reflecting the diversified miner’s plans to spin off its thermal coal operations in South Africa.


Kavango Resources PLC (LON:KAV) identified an electro-magnetic anomaly in Target Area A in the Hukuntsi section of the company’s Kalahari Suture Zone project in Botswana.


BHP Group PLC (LON:BHP, ASX:BHP) said total iron ore production grew 4% to 188 million tonnes (Mt) in the nine months to end March 2021, helped by record output at Western Australia Iron Ore (WAIO) and expects volumes for the year to come in at the upper half of the 244 Mt to 253 Mt guidance range.


Antofagasta PLC (LON:ANTO) said its copper production and costs in the first quarter were in line with guidance as it reported a 5.7% decline in output due to anticipated lower grades at its Los Pelambres mine. The Chilean miner produced 183,000 tonnes of copper in the first quarter and conditionally retained its full-year guidance of 730-760,000 tonnes.


Tirupati Graphite PLC (LON:TGR) said it has opened its second mine in Madagascar at the Vatomina project, where it remains on track to start commissioning the first 9,000 tonnes per annum (tpa) processing plant in the second quarter.


Anglo Asian Mining PLC (LON:AAZ) said the government of Azerbaijan has approved the first of two five-year extensions of the production sharing agreement for its Gedabek contract area.


Shanta Gold Ltd’s (LON:SHG) gross debt of US$11.1mln (GBP8.0mln) has been reduced to US$1.4mln following the repurchase of all outstanding convertible loan notes and early repayment of an Exim loan facility, the East Africa-focused gold producer said in a first-quarter update.




Caerus Mineral Resources PLC (LON:CMRS) said a phase 2 drill programme has been approved for the Troulli project to broadly define the limits of the gold mineralisation and to drill deeper into the Volcanogenic Massive Sulphide (VMS) deposit.


Trident Royalties PLC (LON:TRR) noted a significant increase in indicated resources at the Lake Rebecca gold project in Western Australia. Apollo Consolidated Ltd (ASX:AOP), owner of the project, said indicated resources had jumped 50% from the maiden JORC estimate last February to 815,000 ounces of gold.


IronRidge Resources Ltd (LON:IRR) reported additional high-grade lithium pegmatite drill intersections, including multiple drill intersections over 2% lithium oxide, at new targets adjacent to the Ewoyaa lithium project in Ghana.


Landore Resources Limited (LON:LND) has reported another bonanza gold intersection from its drilling programme at the BAM Deposit, Junior Lake, Ontario


Petropavlovsk PLC‘s (LON:POG) gold production slumped 49% in the first quarter mainly due to a previously flagged issue with a lack of third-party concentrates. Total gold production sank to 95,600 ounces, from 186,200 ounces in the year-earlier quarter


BlueRock Diamonds PLC (LON:BRD) reported higher production, grades and prices from its Kareevlei diamond mine in South Africa in the first quarter.


Metal Tiger PLC (LON:MTR) has subscribed for just over seven million shares in Antipa Minerals Ltd (ASX:AZY) at an issue price of A$0.042 per share, for a total consideration of approximately A$300,000.


NQ Minerals PLC (LON:NQMI) announced first-quarter net income of A$4.8mln (GBP2.7mln) from its flagship Hellyer mine in Tasmania.


Galantas Gold Corporation (LON:GAL) increased the ceiling on its proposed private placing to C$8mln from C$6mln, due to strong investor demand. Earlier this week the company said it would raise at least C$5.1mln to bring its gold mine up to commercial production volumes


Panther Metals PLC (LON:PALM) announced it raised GBP200,000 in a private placing. The company sold 1.66mln new shares priced at 12p each, marking a 20% premium to the last placing price in December.


ECR Minerals PLC (LON:ECR) announced high-grade drilling results from the Bailieston gold project in the Victoria Goldfields, Australia.


Savannah Resources PLC (LON:SAV) said the Environmental Impact Assessment (EIA) of the Mina do Barroso Lithium Project in Portugal is now ready for public consultation. Earlier in the week, Savannah raised GBP10.3mln through an oversubscribed placing and direct subscription.


Bezant Resources PLC (LON:BZT) has unveiled another significant copper intercept in its second drill hole at the Minemba prospect within the Kalengwa area in Zambia. The copper-gold exploration and development company has a 30% interest and acts as operator in the project.


W Resources PLC (LON:WRES) announced a new hire, plant manager for the La Parrilla project, and also updated on recent concentrate shipments from the mine. The company noted that it has made three shipments in the quarter to date and a fourth is scheduled later this month.


Chaarat Gold Holdings Ltd (LON:CGH) said Sandra Stash is to join the board as an independent non-executive director at the beginning of May.


Power Metal Resources PLC (LON:POW) said it has completed an earn-in for a 40% direct project interest in Kalahari Key Mineral’s Molopo Farms project in LON:POW) said it has completed an earn-in for a 40% direct project interest in Kalahari Key Mineral’s Molopo Farms project in Botswana.” target=”_blank”>Botswana.

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