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Investment in Expansion of Boliden Kristineberg in Sweden

Boliden has decided to invest SEK 1,250 m in expanding the Kristineberg mine towards the Rävliden mineralization. Most of the investment is conditional on a permit being received for an increase in production. The expansion is expected to contribute to an increase in milled volumes in the Boliden Area to 1.8 Mt.

“This is a very important step in future-proofing the entire Boliden Area. The expansion and modernization of the mine will take place in several stages, during which we will, of course, also evaluate opportunities for employing fossil-free technology. In parallel, we will continue with exploration efforts in the area,” says Stefan Romedahl, President of Business Area Mines.

Boliden has submitted an application for expanded production at the Kristineberg mine to the Swedish Land and Environment Court. At the same time, it has been decided to make preparatory investments in, among other things, infrastructure and water treatment. Conditional on the application being approved, Boliden will complete the investment, which includes a new ramp and a new crushing station. The investment amounts to SEK 1,250 m and production is expected to start in 2023. A completed expansion will mean, in addition to increased mine production, that the life of the Kristineberg mine will be extended and that capacity utilization in the Boliden Area’s concentrator will be improved.

Completed exploration of the Rävliden mineralization has resulted in 8.4 Mt of inferred and indicated mineral resources, with the possibility of additional reserves. The deposit contains copper, zinc, lead, silver and gold.

Source: Boliden

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Glencore2016 Half-Year Production Report

Production highlights

  • Production, as expected, was down period-on-period in commodities where we previously announced, and are delivering on, proactive supply reductions (copper, zinc, lead, coal and oil).
  • Own sourced copper production of 703,000 tonnes was 4% down on H1 2015, due to the previously announced curtailments at our African operations, partly offset by generally higher grades in South America.
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Excellon Resumes Operations at Platosa Mine

Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) reports that employees returned to work over the weekend and production has resumed at the Platosa Mine in Durango, Mexico following a pause in operations for a safety review. Operations were paused after two employees, Evaristo Nova Soto, a 31-year-old electrical supervisor, and Jorge Carillo Rivera, a 25-year-old general serviceman, were fatally injured during routine operations on the evening of January 9, 2014.

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Excellon Reports Net Earnings Of $3 Million During Third Quarter 2013 - "Silver Grades of almost One Kilogram per Tonne"

“During the third quarter, despite realized silver prices of $21.40 we generated positive cash flow and profits from our La Platosa Mine,” stated Brendan Cahill, President and Chief Executive Officer. “Silver grades of almost one kilogram per tonne, improved tonnage and decreased costs contributed significantly to our performance.  We took steps early in the quarter to reduce costs, particularly at our corporate office, and began the process of improving our production profile.  We are now well positioned to generate profits at current silver prices, while building our cash reserves and preparing to resume exploration early in 2014.”

Q3 Highlights

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Sandstorm Metals & Energy: 2nd Quarter Results

Sandstorm Metals & Energy Ltd. (TSX-V: SND) reported its unaudited results for the second quarter ended June 30, 2013 (all figures in U.S. dollars).

 

Second Quarter Summary

 

  • Acquired a 1.2% base metal NSR on the Prairie Creek project located in the Northwest Territories, Canada from Canadian Zinc Corporation for $6.8 million.
  • Net loss of $13.4 million primarily due to a non-cash impairment charge of $12.1 million related to the natural gas stream with Thunderbird Energy Corp.

 

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Excellon Updates Progress on La Platosa Property

Excellon Resources Inc. (TSX:EXN), Mexico's highest grade silver producer, is pleased to provide an update on the status of its agrarian legal suit against the Ejido La Sierrita, which was filed in August 2012. Excellon sued the Ejido to terminate the surface rights agreement in respect of the surface rights to 1,100 hectares of exploration ground west of the La Platosa Mine and for various damages relating to the illegal blockade of the mine last year.

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Brixton Metals Receives Additional Strategic Investment from Hecla Mining

Brixton Metals Corporation (TSXV: BBB) announces that Hecla Mining Company is exercising its pre-emptive right to maintain its pro-rata interest in the Company pursuant to the terms of an ancillary rights agreement between Brixton and Hecla dated February 26, 2013. As a result, a wholly-owned subsidiary of Hecla will subscribe for 1,700,000 common shares of Brixton at a price of $0.18 per Share and 450,000 Shares at a price of $0.16 per Share for aggregate gross proceeds of approximately $378,000. On closing, Hecla will own approximately 19.8% of the Company’s issued and outstanding common shares.

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Outotec: January-March 2013 Interim Report

  • Order intake: EUR 491.1 (425.4) million, +15% 
  • Order backlog: EUR 1,938.9 (1,991.8) million, -3% 
  • Sales: EUR 502.9 (410.4) million, +23% 
  • Services sales: EUR 103.8 (89.5) million, +16% 
  • Operating profit from business operations1): EUR 35.0 (30.6) million, +14% 
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