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Allegiance's Tenas project proves up
Published: 18 Mar 19
A definitive feasibility study (DFS) into the Tenas coal project, in British Columbia, has found that the project could produce some 750 000 t/y of saleable coal. ASX-listed Allegiance Coal on Monday reported that the DFS estimated a 22-year mine for the project, extracting just 15% of the entire resource of the grater Telkwa coal resource, with the Tenas project projected to deliver some A$121.3-million in annual revenues.
Kingsgate signs A$82m HoA with insurer
Published: 18 Mar 19
The share price of ASX-listed Kingsgate Consolidated increased by more than 53% on Monday, on news that the company had settled for more than A$82-million in its legal dispute with its political risk insurer. The company had political risk insurance in place in 2016 when the government of Thailand expropriated its Chatree gold mine.
Chaarat teams up with Turkey contractor
Published: 18 Mar 19
Gold mining company Chaarat has formed a joint venture (JV) with Turkish mining and mine construction contractor Çiftay to collaborate on the Tulkubash and Kyzyltash projects in the Kyrgyzstan, the Aim-quoted firm announced on Monday. Çiftay, which has been Chaarat’s partner since 2017, and mobilised equipment to the Tulkubash site last year, would be appointed as construction and long-term mining contractor for the project.
Thiess wins A$1.7bn Botswana contract
Published: 18 Mar 19
ASX-listed Cimci’s mining services provider subsidiary Thiess has been awarded a A$1.7-billion contract at the Jwangeng diamond mine, in Botswana. Thiess, through its 70%-held joint venture Majwe, will provide a full scope of mining services for Debswana Diamond Company, over a period of nine years, including drill and on-bench services, mining planning, equipment maintenance, load and haul, and mining operations.
MCA calls for tax reform, says ‘excessive’ burden is hurting investments MCA calls for tax reform, says ‘excessive’ burden is hurting investments
Published: 18 Mar 19
A new report by the Minerals Council of Australia (MCA) has warned that Australia’s continued lack of tax reforms will make it much harder for the country to compete for investment, as other countries continue to cut tax rates. The report, by the MCA’s international tax expert Dr Jack Mintz, notes that Australia’s tax competitiveness for investment continues to decline, with the country in 2019 slipping from having the equal fifth-highest headline company income tax rate across the Organisation for Economic Development (OECD) countries, to having the second highest, only behind Portugal.
Avenira hoping for FID by 2020
Published: 18 Mar 19
Phosphate developer Avenira is targeting a final investment decision on its Baobab project, in Senegal, in the first half of 2020, following the release of a positive feasibility study. Based on a one-million-tonne-a-year phosphate rock concentrate capacity, the feasibility study estimated that the project would require an investment of A$254-million, and would have a pay-back period of 3.3 years. The study estimated a post-tax net present value of A$294-million and an internal rate of return of 25.5%, with a free cash flow of A$756-million and earnings before interest, taxes, depreciation and amortization of A$1.4-billion over the initial 13.4-year mine life.
At least 30 people die after Angola mine collapse
Published: 18 Mar 19
A deadly mine collapse in Angola has left at least 30 people dead.  The incident occurred in Chipindo municipality in Angola’s south-west Huila Province as illegal gold miners mined for gold, the state media reported on Sunday.
Continental obtains $175m for Colombia gold mine
Published: 18 Mar 19
TSX-listed project developer Continental Gold has obtained a $175-million funding package to complete the construction, commissioning and start-up of its Buriticá gold project, in Colombia. The package consists of $75-million of unsecured convertible debentures issued to certain investors, including gold major Newmont Mining, and a $100-million gold and silver stream from Triple Flag Mining Finance Bermuda.
SANDF personnel deployed to help in flood-ravaged Malawi and Mozambique
Published: 18 Mar 19
South African National Defence Force (SANDF) personnel have been deployed to support humanitarian efforts in Malawi and Mozambique, "currently facing serious floods", the SANDF said on Saturday. The SANDF had committed air assets and personnel to supplement the joint inter-departmental, inter-agency, and multi-national efforts as authorised by President Cyril Ramaphosa, spokesperson Brigadier Mafi Mgobozi said in a statement 
Alrosa expects Mir mine restoration only after 2024 Alrosa expects Mir mine restoration only after 2024
Published: 18 Mar 19
Mine restoration at the Mir diamond mine, which flooded about a year-and-a-half ago, is only expected to start after 2024, Russian miner Alrosa reported on Monday, detailing the timelines for the potential restart of the Siberian underground operation. To decide on the mine’s fate, Alrosa would start embark on exploration down to 1 300 m to confirm the operation’s reserves. Budgeted to cost two-billion ruble, these activities were scheduled to be completed by early 2022.
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