Proactive weekly mining highlights: Rio Tinto, Bradda Head, Ariana Resources …


Rio Tinto PLC (LON:RIO) said it expects iron ore and copper shipments to remain at the low end of guidance after declines in output of both metals in its latest quarter.

Costs are also rising said the miner with iron production costs this year up by 4% due to rises in diesel and labour, costs related to mine heritage management and Coronavirus (COVID-19).

Bradda Head Holdings Limited, a lithium focused exploration company, said it is raising GBP6.2mln as part of its AIM flotation. The company, previously AIM-listed Life Science Developments Limited, and before that Copper Development Corporation, expects to have a market capitalisation on admission of GBP16.1mln based on the issue price of 5.5p.

Ariana Resources PLC (LON:AAU) announced the launch of a discovery fund to assess 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.

Base Resources Limited (LON:BSE, ASX:BSE) is boosted by comments made at a conference by a government official who said an extension to the Kwale Special Mining Lease (SML 23) has been approved. The licence will be issued soon according to the comments by the Cabinet Secretary for the Ministry of Petroleum and Mining at a Kenyan Chamber of Mines conference, Base said in a statement.

Anglo Asian Mining PLC (LON:AAZ) upped production slightly in its latest quarter but left its estimate for the current year unchanged at between 64,000 to 72,000 gold equivalent ounces. The miner also said it expects to produce a maiden resource estimate for the new Zafar deposit in Azerbaijan either by the end of this month or early next.

Oracle Power PLC (LON:ORCP) told investors it believes its two gold projects in Western Australia, Northern Zone and Jundee East, could each deliver significant shareholder value over the medium term. Chief executive Naheed Memon, in a statement, highlighted excitement around the company’s findings and plans in Western Australia.

Alien Metals Limited (LON:UFO) said its planned drilling programme at the Donovan 2 copper-gold project in Mexico remains little changed after reviewing new data.

Castillo Copper Ltd (ASX:CCZ) (LON:CCZ) (FRA:7OR) shares surged as much as 29% higher intra-day after drilling intersected significant visible copper mineralisation at the Big One Deposit in Mt Isa’s copper-belt, Queensland. Drill-hole BO_318RC intersected visible copper mineralisation in two distinctive zones – 11 metres from 89-100 metres and 34 metres from 153-187 metres (apparent thickness).

Central Copper Resources Limited has confirmed its intention to float on AIM. The company is focused on delivering a high-grade copper project into production and exploration of assets in the Democratic Republic of the Congo (DRC) and in the Republic of Zambia

Pembridge Resources PLC (LON:PERE) announced record quarterly production and offtake sales from the Minto copper-gold-silver mine in the Yukon territory. During the second quarter, 8,323 wet metric tonnes of concentrate were produced, up from 7,023 wet metric tonnes in the first quarter.

Pan African Resources PLC (LON:PAF) reported a 12.3% increase in gold production to 201,608 ounces for the year to end June 2021, boosted by underground operations at its Barberton and Evander mines in South Africa. Gold output was also 3.4% higher than the revised production guidance of about 195,000 ounces given in May 2021.

Caerus Mineral Resources PLC (LON:CMRS) and Jubilee Metals Group (LON:JLP) have committed to an immediate pilot sampling and investigation programme at Caerus’s portfolio of copper-gold assets in Cyprus. The programme is part of the option agreement under the terms of which Jubilee can elect to convert any of the multiple ‘Waste to Revenue’ candidate sites within Caerus’ portfolio into a joint venture.

W Resources PLC (LON:WRES) reported its highest quarterly tungsten concentrate production to date at 106.4t from the La Parrilla mine in Spain in the second quarter. During the quarter, the company completed the construction of the first water dam, enabling it to access higher-grade ore once again, after heavy rain had hampered production in the preceding quarter.

Horizonte Minerals PLC (LON:HZM, TSX: HZM) said “significant progress” has been made on its Araguaia nickel project in Brazil. Competitive tendering for the supply of key processing equipment, electric furnace and project management (EPCM) services have been completed, and financing talks remain on track.

Premier African Minerals Ltd (LON:PREM) said drilling is underway at its Zulu lithium and tantalum project in Zimbabwe and that a second drilling rig is expected on site this weekend. The AIM-listed company also said that pegmatite, the primary source of lithium, was intersected as expected in drill-hole ZDD55.


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