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Proactive weekly mining highlights: BHP, Shanta Gold, BlueRock Diamonds…


BHP PLC (LON:BHP) has restarted operations at the Samarco mine where a tailings dam collapse killed 19 people and destroyed a complete village. Samarco’s operations were suspended when the Fundao dam failed on 5 November 2015.

Shanta Gold Ltd (LON:SHG) has settled all outstanding gold forward sale commitments, leaving the company unhedged. As of early 2020, the company had sold forward 40,000 ounces to January 2021 at an average price of US$1,244 per ounce.

BlueRock Diamonds PLC (LON:BRD) has recovered two gem-quality exceptional stones from its Kareevlei mine in the Kimberley region of South Africa. The diamonds measure 14.8 carats and 8.7 carats respectively.

Mkango Resources Ltd. (LON:MKA) (CVE:MKA) appointed Bacchus Capital as strategic and financial adviser, encompassing mergers and acquisitions, takeover defence, strategic and other financial advice. Bacchus Capital has played a key role in many of the metals and mining industry’s most significant transactions in recent decades.

Power Metal Resources PLC (LON:POW) said its joint venture at the South Ghanzi Project in the Kalahari copper belt has identified concentrations of zinc in soil samples. Zinc is a recognised pathfinder element for the less mobile copper ions in the soil with elevated levels of zinc a potential indicator of shallow strata-bound copper mineralisation.

W Resources PLC (LON:WRES) said it shipped 20 tonnes of tungsten concentrate from the La Parrilla mine in Spain in December. The company also reported record concentrator recovery rates in December of 58.7% tungsten trioxide, increasing from 40% in November.

Bezant Resources PLC (LON:BEZ) has agreed to acquire Metrock Resources and the Kanye Manganese Project in Southern Botswana. The initial consideration payable by Bezant at completion is GBP405,000 by the issue of 150mln Bezant shares.

Asiamet Resources Limited (LON:ARS) said it has signed an agreement to sell its subsidiary Indokal, the owner of the BKM copper project in Indonesia, to private company PT Wasesa Indo Nusa (PT WIN) for US$163.4mln. Asiamet said it will continue to manage the copper project for up to 12 months following PT WIN’s IPO through a management services contract,

Cobra Resources PLC (LON:COBR), the gold exploration and mining company focused on the Wudinna Gold Project in South Australia, has announced significant gold intercepts at the Baggy Green deposit. The company noted that the Baggy Green JORC resource is currently estimated at 94,000 ounces and occurs as two deposits.

Oriole Resources PLC (LON:ORR) said that Thani Stratex Djibouti, a company in which it has an 11.8% stake, has completed phase one of its drilling programme at the Hesdaba gold project in Djibouti. Previously reported intersections from Hesdaba have included up to 15 metres grading 4.08 grammes gold per tonne.

Galileo Resources PLC (LON:GLR), the exploration and development mining company, has said it is better placed after an “operationally difficult but extremely positive” year. The Star Zinc Project in Zambia has been fully evaluated and is now ready to commence production as a small mining operation, Bird told investors.

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) has satisfied all remaining conditions precedents under the Syndicated Facility Agreement (SFA) to achieve financial close and has received debt funds from the first drawdown of US$105mln.

Metal Tiger PLC (LON:MTR) has subscribed for 142,857 shares in Catalyst Metals Ltd (ASX:CYL) at a price of A$2.10 each, for a total investment of approximately A$300,000. The investment comes as part of a wider A$18mln fundraise from Catalyst.

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