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Barrick Gold gets green light to resume Veladero ops after 19-day suspension


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Barrick Gold gets green light to resume Veladero ops after 19-day suspension


Barrick Gold gets green light to resume Veladero operations

After 19 days under a suspension order, Argentine authorities let Barrick Gold Corp. resume normal operations at its Veladero gold mine in San Juan province. Barrick said it would assess the impact to Veladero production, but maintained company-wide production guidance between 5 million and 5.5 million ounces of gold for the year at all-in sustaining costs in the range of US$750 to US$790 per gold ounce.

Vale eyeing iron ore supply deals with smaller Chinese customers

Vale SA is looking to expand its market share in China for the supply of iron ore as it is working on distribution deals with smaller Chinese customers in the country's interior, Bloomberg News reported, citing Humberto Freitas, the miner's Logistics and Mineral Exploration executive director.

Police clearing protesters at Goldcorp's Penasquito mine

Police started to clear trucks blocking Goldcorp Inc.'s Penasquito gold mine in Zacatecas, Mexico, Oct. 4, the company confirmed to SNL Metals & Mining. "State government and law enforcement officials commenced the orderly removal of vehicles illegally blocking roadways earlier today," Christine Marks, director of communications, said by email.


* Anglo American Plc shares rallied to over £10 per share for the first time in more than a year, recovering from a record low in January, on the back of improving commodity prices and the company's debt-reduction efforts, Bloomberg News reported.


* Antofagasta Plc reached a 36-month wage deal with unionized supervisors at its Chile-based flagship Los Pelambres copper mine, averting a possible strike, Reuters reported. The terms of the wage deal were not disclosed.

* Nevsun Resources Ltd.'s Bisha zinc-copper-gold mine in Eritrea declared commercial production for its zinc expansion, effective Oct. 1 with the successful commissioning of a new zinc flotation plant.


* Sibanye Gold Ltd. suspended all operations at the Cooke gold mine Gauteng, South Africa, after a clash between two of South Africa's rival unions left two of its employees in critical condition, Reuters reported, citing a company spokesman.

* Norton Gold Fields Ltd., controlled by China's Zijin Mining Group Co. Ltd., is set to wind up production at the Homestead gold mine within the Paddington operations in Western Australia by year's end, which will result in about 50 layoffs, ABC reported.

* Jaguar Mining Inc. entered into an earn-in agreement with Avanco Resources Ltd., pursuant to which Avanco may earn up to a 100% interest in the former's Gurupi gold project in Brazil.

* Roxgold Inc. produced 32,987 ounces of gold in the third quarter and achieved commercial production "ahead of schedule and under budget" at its Yaramoko 36130 gold mine in Burkina Faso, effective Oct. 1. The company sold 34,594 ounces in the three-month period at an average sales price of US$1,334 per ounce.

* Compañía de Minas Buenaventura SAA CFO Carlos Galvez said he expects the recent rally in gold prices to continue in the long term, Bloomberg News reported. The company aims to start development of its Peru-based San Gabriel gold mine next year, the report added.

* Kinross Gold Corp. has agreed to a new, three-year collective labor agreement with unionized employees at its Tasiast gold mine in Mauritania.

* Ariana Resources Plc expects final commissioning and the first gold pour at its Kiziltepe mine, which forms part of its Red Rabbit gold-silver property in western Turkey, late in the fourth quarter, subject to the completion of the tailings dam as well as weather.

* Kiska Metals Corp. said that Teck Resources Ltd. has terminated a participation agreement, pursuant to which it agreed to earn a 51% interest in the former's early-stage Kliyul gold-copper project in British Columbia. As a result, Kiska has regained full control of the interest in the project.

* An updated feasibility study for Silver Bear Resources Inc.'s Vertikalny deposit at its preproduction-stage Mangazeisky silver property in the Republic of Sakha, Russia, defined a posttax net present value of US$123.1 million, using a 5% discount rate, with an internal rate of return of 81.9% while initial CapEx increased slightly to US$49.9 million from US$48.6 million.


* BHP Billiton Group and Rio Tinto rejected an offer to make an upfront payment of more than A$1 billion in favor of scrapping a 25-cents-per-tonne production rental charge, The Australian reported.

* Meanwhile, Kazuo Tanimizu, managing executive officer of Nippon Steel & Sumitomo Metal Corp., expressed concern about the tax hike proposal in West Australia, saying it would present uncertainty for future investments in the mining sector and could also jeopardize Western Australia's global iron ore competitiveness, The West Australian wrote.

* Australia's biggest iron ore producers may fail to meet their full-year guidance on the back of lower-than-expected shipments in the past three months, Bloomberg News reported, referring to a note by Macquarie Group Ltd. Data from Western Australia's key iron ore terminals showed that exporters moved combined cargoes totaling about 209 million tonnes in the three months to Sept. 30, falling short of Macquarie's forecast of 216 million tonnes.

* A joint venture between state-owned Steel Authority of India Ltd. and ArcelorMittal is anticipated to start producing automotive-grade steel in two years, Reuters reported, citing Indian Steel Secretary Aruna Sharma. Officials from the two companies are scheduled to meet Oct. 6 to advance discussions on a proposed 60 billion Indian rupee plant, with a projected annual steel output of 1.2 million tonnes.

* Indonesian coal miner PT BUMI Resources Tbk. posted a record net loss of US$1.9 billion for the year ended Dec. 31, 2015, widening from a revised loss of US$370.5 million reported for 2014, Reuters reported. The loss was mainly attributed to asset impairments and write-offs for its receivables.

* Hwange Colliery Co. Ltd. Chairman Winston Chitando said the company is in the process of implementing comprehensive cost-cutting initiatives, seeking to return its operations to profitability in the next year, Business Day reported.

* Ukraine's merchant pig iron producer Donetskstal Iron and Steel Works CJSC, idled one of its two blast furnaces, which is expected to remain shut until October-end, Metal Bulletin reported, citing industry sources.

* Kazakhstan Potash Corp. Ltd. has extended the US$70 million purchase period for Satimola Ltd., which holds the namesake Satimola potash deposit in Kazakhstan, by nine months.

* Potash Ridge Corp. signed an offtake and funding agreement with Jones-Hamilton Co., under which the latter will fund the hydrochloric acid equipment of Potash Ridge's Valleyfield sulfate of potash project in Quebec, while Valleyfield will sell its hydrochloric acid production to Jones-Hamilton for a minimum 10-year period.


* Anglo American unit De Beers SA sold US$485 million worth of rough diamonds during its eighth sales cycle, down from the US$639 million posted for the seventh sales cycle of 2016.

* CGN Mining Co Ltd. entered into a mining principles agreement with CGNPC, CGNPCURC, National Atomic Co. Kazatomprom JSC and UMP, setting out key principles and terms for the parties' cooperation in fuel and mining projects. This comes after the companies inked a deal to jointly build a nuclear fuel assembly plant and mine uranium deposits in Kazakhstan in December 2015.

* Wet commissioning of the feed classification has started at Galaxy Resources Ltd.'s Mount Cattlin lithium project in Western Australia. Meanwhile, the tantalum beneficiation circuit wet commissioning, planned for the first week of October, started one week ahead of schedule.


* Indonesian Mining Minister Luhut Pandjaitan said the government is finalizing revisions to the country's mining laws, with more details on the changes expected to be released in the coming weeks. The revision could give companies up to five more years to build smelters and resume nickel ore exports, which have been banned since 2014.

* The Philippines' Environment Secretary Regina Lopez said remaining mine operators unaffected by the recently concluded mining audit in the country must prove their effectiveness in boosting socioeconomic activity in host communities before the government resumes approving new projects, BusinessWorld reported. Apart from ordering the industry-wide audit, Lopez also halted new mining applications in July.

* One of Australia's most successful mining entrepreneurs, Mark Creasy, has turned to South Africa in the hopes of finding the next big deposit, a move that could be the key to bolstering the country's image as an attractive mining jurisdiction.

The Daily Dose is updated as of 7 a.m. Hong Kong time, and scans news sources published in Chinese, English, Indonesian, Malay, Portuguese, Russian, Spanish, Thai and Ukrainian. Some external links may require a subscription.