Proactive’s Post

Dundee processes 188,800 tonnes of complex concentrate in 2023 Dundee Precious Metals Inc. says it processed approximately 188,800 tonnes of complex concentrate in 2023, an 8% increase from 174,122 processed in 2022 at the Tsumeb Smelter. The company says the increase is despite the facility facing unexpected hurdles encountering unplanned downtime and extended Ausmelt furnace maintenance. The challenges, notably repairs to the off-gas system, led to processing figures below the annual guidance range as the smelter had aimed at 200,000 to 220,000 tonnes of complex concentrate smelted. "Despite the challenges faced in 2023, we remain committed to delivering strong results and maintaining our track record of sustainability performance," said David Rae, President and Chief Executive Officer of Dundee Precious Metals. https://lnkd.in/dBe_b9U4 #namibia #mining #gold Dundee Precious Metals Tsumeb Chamber of Mines Namibia

Dundee Precious Metals considers sale of Tsumeb Smelter Dundee Precious Metals Inc. (DPM) has announced that it is considering a possible sale of its Tsumeb smelter, as the Namibian business is no longer seen as strategic to DPM's asset portfolio. The miner’s decision comes as the Namibia-based smelter will no longer be expected to process any concentrate from DPM’s Chelopech mine in Bulgaria, commencing in 2024. “As a result, it is no longer seen as strategic to DPM's asset portfolio. Consequently, the assets and liabilities of Tsumeb have been presented as held for sale in the consolidated statement of financial position as of December 31, 2023, and the operating results and cash flows of Tsumeb have been presented as discontinued operations in the consolidated statements of earnings (loss) and cash flows for the years ended December 31, 2023, and 2022,” the Canadian-based mining company said. https://lnkd.in/dDj4ejKV #namibia #tsumeb #smelter #mining #busines Osino Resources Corp. Chamber of Mines Namibia David Rae

Today's Top Mining Stories: 1. The silicon metal and ferro alloys producer Ferroglobe PLC and the solar technology company LONGi Solar announced a long-term silicon supply agreement which took effect on January 1, 2024. 2. MP Materials plans to offer $500 million in Convertible Senior Notes due in 2030 to qualified institutional buyers, with an option to purchase up to an additional $75 million in notes. 3. Cleveland-Cliffs announced plans to offer $750 million in senior unsecured guaranteed notes due in 2032, exempt from the Securities Act's registration requirements. 4. BHP signed non-binding agreements for all potash production in both phases of the mine it is building in Jansen, Saskatchewan. The company will convert the agreements to firm offtakes within 12 to18 months. BHP CEO Ragnar Udd also said the company is not looking to acquire the idle Cobre Panama copper mine from First Quantum Minerals. 5. Newmont Corporation and its wholly owned subsidiary, Newcrest Finance Pty Limited, initiated a private offering of their notes due in 2026 and 2034, guaranteed by Newmont USA Limited. The proceeds from this offering will primarily be used to repay all outstanding borrowings under Newmont's revolving credit facility, with any remaining funds allocated for general corporate purposes.

Key Factors for Selecting Industrial Processes in Gold Mining Selecting the right industrial process for gold mining is a critical decision that can significantly impact the success of a project. There are a number of factors to consider when making this decision, including: ·        Ore type: The type of ore being mined will determine the most suitable industrial process. For example, ores with high levels of gold will require different processing techniques than ores with low levels of gold. ·        Ore grade: The grade of the ore will also determine the most suitable industrial process. High-grade ores can be processed using more expensive and complex methods, while low-grade ores may require more efficient and cost-effective methods. ·        Environmental impact: The environmental impact of the industrial process is an important consideration. Some processes are more environmentally friendly than others. ·        Economic factors: The economic factors of the industrial process must also be considered. The cost of the process, the energy requirements, and the amount of gold that can be recovered are all important factors. ·        Safety: The safety of the industrial process is also a critical consideration. Some processes are more hazardous than others. Once these factors have been considered, a number of different industrial processes can be used to extract gold from ore. These processes include: ·        Cyanidation: This is the most common method of gold extraction. It involves using cyanide to dissolve the gold from the ore. ·        Gravity separation: This method uses gravity to separate the gold from the ore. It is often used for high-grade ores. ·        Flotation: This method uses air bubbles to float the gold to the surface of the ore slurry. It is often used for low-grade ores. ·        Amalgamation: This method uses mercury to amalgamate with the gold. It is a hazardous process and is no longer widely used. ·        Bioleaching: This method uses bacteria to extract the gold from the ore. It is a relatively new process and is still being developed. The choice of industrial process will ultimately depend on the specific circumstances of the gold mining project. By carefully considering the factors listed above, mining companies can select the most appropriate process for their operations. #goldmining #feasibilitystudy #miningindustry #investments #riskmanagement #sustainability

Today's Top Mining Stories: 1. Cleveland-Cliffs is increasing spot market base prices for all carbon hot-rolled, cold-rolled and coated-steel products. The minimum base prices for hot-rolled steel is $840 per net ton, effective immediately for all new orders. 2. Ramaco Resources, Inc. announced fourth-quarter and full-year 2023 financial results. In the fourth quarter, Ramaco reported $58.5 million in adjusted EBITDA, up from $45.4 million in Q3 2023, and a yearly adjusted EBITDA of $182.1 million, down from $204.6 million in 2022. Net income for Q4 was $30.0 million, up from $19.5 million in Q3, and annual net income was $82.3 million, compared to $116.0 million in 2022. The fourth quarter marked the strongest financial performance of the year, with a shipment rate of 4 million tons per annum in H2, notably exceeding the 3 million tons per annum rate in H1. Ramaco also repaid its final $10 million debt from the 2022 Ramaco Coal acquisition, reducing its term debt by $55 million in 2023. The company closed the year with $48 million in term debt, $42 million in cash and a record $91 million in liquidity, which was significantly higher than $49 million at the end of 2022. 3. AngloGold Ashanti announced that Ms. Maria Ramos, the independent non-executive director and chairman of the Board of Directors, will not seek re-election at the shareholder's annual general meeting on 28 May 2024. The Board unanimously decided to appoint Mr. Jochen Tilk as the new Chairman, effective from 28 May 2024, contingent on his re-election at the AGM. Ms. Ramos has been a director since June 1, 2019 and Chairman since December 5, 2020, while Mr. Tilk has served as an independent non-executive Director since January 1, 2019 and is currently the Chairman of the Investment Committee. 4. KeyBanc Capital Markets analyst Phil Gibbs maintained his Overweight rating of Universal Stainless & Alloy Products Inc and raised the price target from $22 to $26. 5. H.C. Wainwright & Co., LLC analyst Heiko Ihle, CFA reiterated US GoldMining Inc with a Buy and maintained a $23 price target.

Congratulations to Ok Tedi Mining Limited (OTML) and its exceptional team on achieving a remarkable production milestone in the first quarter of 2024! Let's celebrate the collective effort that made this achievement possible through: 1. Teamwork and Collaboration: OTML's success is a testament to the collaborative spirit among employees, partners, suppliers, and the local community. Working together, you've achieved outstanding results. 2. OTML's Core Values: OTML's unwavering commitment to environmental stewardship, health, safety, and social responsibility shines through in this record production. Responsible practices and positive community relationships are at the heart of your achievements. 3. Optimization and Innovation: The strategic improvements across the entire production chain—from mine to port—demonstrate OTML's dedication to optimization. The "restore, reset, and reinvigorate" strategy has clearly paid off. Your commitment to excellence, innovation, and responsible mining practices sets an inspiring example for the industry. Here's to a bright future for OTML!

📢 Exciting news! Adam Estelle has just published a compelling article on MINING.com, outlining a comprehensive strategy to secure the future of the U.S. copper supply. By implementing an all-of-the-above approach—boosting domestic mining, enhancing smelting and refining, increasing recycling efforts, and trading with reliable partners—the U.S. can ensure a secure copper supply. Don't miss out on this insightful read! Check it out below ⬇️ #CopperIsCritical #CopperIsSecure

#Copper has become the new #oil, and no big mining house can prosper without the #metal considered critical to the transition to a low-carbon future. Everyone wants copper and the price is soaring as supply proves incapable of meeting demand. BHP leaked proposal, valued at US$39-billion, tried to use its shares as the currency to buy Anglo, chiefly to get at its thriving copper mines in Chile and Peru. #criticalminerals #ev #building #buildings #construction #steel #mining #exploration #prospecting #ores #mines #minerals #battery #batteries Mining Association of Canada Mining Association of BC Ontario Mining Association Prospectors & Developers Association of Canada (PDAC) BC Regional Mining Alliance CIM | Canadian Institute of Mining, Metallurgy and Petroleum The Northern Miner Canadian Association of Petroleum Producers (CAPP) Canadian Energy Executive Association Saskatchewan Mining Association AME - Association for Mineral Exploration Canadian Fuels Association - Association canadienne des carburants Canadian Natural Resources Limited (CNRL) Canadian Manufacturers & Exporters Canadian Hydrogen and Fuel Cell Association Canadian Hydrogen Association (CHA) Manitoba Prospectors and Developers Association (MPDA) The Mining Association of Manitoba Inc. Canadian Heavy Oil Association NWT & NU Chamber of Mines Canadian Mineral Processors CMP BC/YK

Eagle Mountain Mining Limited (ASX:EM2) is pleased to provide shareholders and investors with an exploration and operations overview to accompany the Appendix 5B for the quarter ended 31 December 2023. Activities during the Quarter focused on advancing the Oracle Ridge Copper Project towards a restart of mining. Commenting on the activities during the Quarter, Eagle Mountain Mining’s CEO, Tim Mason, said: “The Company made great progress during the December Quarter, with both a significant increase in Mineral Resources and a simplified processing pathway for the Project identified. The new MRE reflects a 27% increase in contained copper on a like-for-like basis from the previous resource. This new resource estimate contains 380,000 tonnes of contained copper and will underpin mining studies for longer mine life and increased annual throughput compared to previous operations. We also identified a far simpler processing method for mineralisation at Oracle Ridge with a raft of cost and environmental benefits. Excellent copper recovery from rougher flotation alone paves the way for direct tankleaching of the concentrate which in turn feeds to an SX/EW plant on site that produces LME grade copper sheet. There is no need for filtering and shipping of concentrate to smelters and refiners. Additional feedstock to the SX/EW could come from a low grade heap leach process which is currently in the testing phase. If viable, this has potential to negate the need for a tailings storage facility, eliminating those capital and operating costs for the Project. Glycine leaching is currently being tested on a run of mine ore and low grade material. Results received to date are very encouraging and the next stage involves testing the rougher concentrate and the existing tailings. I am very excited by developments during the Quarter which support our goal to become a mid-tier copper producer in the USA and would like to thank shareholders for their support to date.“ Read more: https://lnkd.in/g7h2PHsh $EM2 #Copper #Gold #EagleMountain #OracleRidge #Arizona Tim Mason Rick Crabb Roger Port

TNR Gold Corp. (TSX-V:TNR, OTC:TRRXF) reported the latest developments in the Los Azules copper, gold, and silver project in San Juan, Argentina, through an update provided by #McEwenMining Inc (TSX:MUX, NYSE:MUX). TNR Gold holds a 0.4% net smelter returns royalty on the Los Azules copper project, which was ranked in the top 10 largest undeveloped copper deposits in the world by Mining Intelligence in 2022. McEwen Mining's recent update indicated 18 drill rigs on site and over 18,000 meters of drilling completed, representing over a third of the planned meters for the current campaign. McEwen Copper, a subsidiary of McEwen Mining, aims to develop Los Azules as one of the world's largest undeveloped copper projects. More at #Proactive #ProactiveInvestors #TSXV #OTC #TNR #TRRXF http://ow.ly/ZNZX105624o