Otmane El Rhazi : Iron Road pushes CEIP resource to 4.5bt

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Junior developer Iron Road has increased the mineral resource estimate at its Central Eyre iron project, in South Australia, by 22%, to some 4.5-billion tonnes, grading 16% iron. The ASX-listed company noted that some 3.5-billion tonnes, or 77% of the mineral resource was classified as measured and indicated.

Otmane El Rhazi : Iron Road pushes CEIP resource to 4.5bt

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Junior developer Iron Road has increased the mineral resource estimate at its Central Eyre iron project, in South Australia, by 22%, to some 4.5-billion tonnes, grading 16% iron. The ASX-listed company noted that some 3.5-billion tonnes, or 77% of the mineral resource was classified as measured and indicated.

Otmane El Rhazi : Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

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The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a decline in demand from the Chinese steel mills during 2014, which unfortunately, coincided with a massive upsurge in global iron production.

Otmane El Rhazi : Australian iron-ore juniors hurting, some majors reviewing expenditure plans as prices slump

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The recent free fall in the iron-ore price to its lowest level in six years has struck a deathblow to a number of Australian juniors operating in the sector, while the majors have been forced to cut back costs. Commodity analyst Wood Mackenzie (WoodMac) blamed the lagging commodity price on a decline in demand from the Chinese steel mills during 2014, which unfortunately, coincided with a massive upsurge in global iron production.

Otmane El Rhazi : Vale shares down after reporting Q4 loss, missing analyst forecasts

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The NYSE-listed stock of the world’s largest producer of iron-ore, Brazil’s Vale, on Thursday trended lower after the diversified miner reported a significant fourth-quarter net loss, as the collapse the steelmaking commodity’s price weighed on the bottom line. Despite narrowing the net loss for the three months ended December 31, to $1.85-billion, compared with a loss of $6.5-billion in the comparable period of 2013, investors were disappointed with the company’s reported underlying earnings of negative $251-million, or $0.05 a share for the quarter.

Otmane El Rhazi : Aquila Resources takes govt to court over overlapping mining rights

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Steel producer Aquila Resources on Thursday instituted legal proceedings against the South African government in the Pretoria High Court to resolve an alleged overlapping prospecting right over its Avontuur manganese project, in the Northern Cape. The company said in a statement that its decision followed the expiry of several deadlines for the Mineral Resources Minister to decide on Aquila’s internal appeal – a procedure prescribed under the relevant South African legislation – to set aside the alleged overlapping prospecting right.

Otmane El Rhazi : Orissa mines hit classification roadblock towards auction

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Iron-ore mines across the eastern Indian province of Orissa would not be ready for auction for a number of years year, despite the federal government’s intentions to start the process by mid-2015. According to a provincial government official, the Mines, Minerals Development and Regulation Ordinance 2015, issued by the government last month providing the legal framework for auctioning of all mineral resources, stipulated that quantum of mineral deposits of each mine had to be assessed and determined before each block was put up for auction.

Otmane El Rhazi : Ferrex raises funds for Togo manganese project

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Aim-listed manganese development and iron-ore exploration company Ferrex has raised £835 000, before expenses, through the placing of 127-million new ordinary shares to provide working capital to finalise the construction of its flagship Nayega manganese project in Togo, West Africa. Ferrex had finalised an accelerated start-up production plan for the 250 000 t/y project, which would deliver manganese ore production and near-term cash flow within eight months of commissioning. "We are delighted to have received such strong support from our shareholders for this placing. With these funds. . . initial production [is] currently anticipated at the beginning of 2016, subject to finalis[ing] the mining convention and secur[ing] the mining permit,” Ferrex CE Dave Reeves said.

Otmane El Rhazi : Centaurus raises cash for DSO projects

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Metals developer Centaurus Metals has raised A$1.1-million through a share placement to professional and sophisticated investors, with the miner also announcing plans to raise a further A$3.5-million through a non-renounceable rights issue. Centaurus placed some 44-million shares, priced at 2.5c each, and a further 14.67-million options to raise the initial funding.

Otmane El Rhazi : South32 catalyst for next wave of productivity gains – BHP Billiton

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Mining giant BHP Billiton, which pulled a free cash flow rabbit out of the thrashed commodity price hat in the six months to December 31, intends the spinoff of South32 to be the catalyst for the new wave of productivity gains in the period ahead “because if you keep doing the same thing, you eventually run out of options”, the company said on Tuesday. In South32, BHP Billiton intends is spinning off some of its aluminium, coal, manganese, nickel and silver ...

Otmane El Rhazi : BC profits fall as Nullagine strikes clay

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ASX-listed BC Iron has reported a net loss after tax of A$96.3-million during the six months ending December, as the price of iron-ore continued to decline and the miner was faced with difficult operating conditions at its Nullagine joint venture (JV), in Western Australia. The first half earnings compared with a net profit after tax of A$69.6-million in the previous corresponding period.

Otmane El Rhazi : Atlas aims to save extra A$20m in 2015

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Iron-ore miner Atlas Iron on Tuesday flagged further cost savings for 2015, with MD Ken Brinsden saying that the company was demonstrating significant skills and resilience to deal with the volatility in the iron-ore market. The miner had previously targeted cost savings of between A$75-million and A$100-million for the financial year; however, Brinsden has now widened this estimation to between A$90-million and A$120-million by the end of June.

Otmane El Rhazi : Posco seeks PM intervention to keep investment plans alive

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South Korean steel major Posco is hoping to meet with Indian Prime Minister Narendra Modi for an intervention to secure iron-ore resources for its $12-billion steel plant project in India, hanging fire for over a decade. A decision on the allocation of iron-ore linkage for the proposed steel plant would be key to whether Posco India would renew the memorandum of understanding (MoU) signed with the provincial government of Odisha in 2005.

Otmane El Rhazi : EY’s Canadian Mining Eye index falls 12% in Q4, lower oil prices provide some respite

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Global professional services firm EY’s ‘Canadian Mining Eye’ index fell 12% during the fourth quarter ended December, compared with a 15% decline in the prior period. The index underperformed the S&P/TSX Composite index, which fell 2% during the last quarter of 2014, while the London Metal Exchange index (LMEX) decreased 6% during the quarter.

Otmane El Rhazi : Bauba’s chrome play clears last regulatory hurdle

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The Department Water and Sanitation has granted Bauba Platinum subsidiary, Bauba A Hlabirwa Mining Investments, a general authorisation of water use for the farm Moeijelijk, in the North West, fulfilling the last legislative condition required before the start of full-scale mining. The authorisation followed the granting of a small-scale mining permit for the chrome project in 2014, after which an operational impact initial site establishment was conducted and detailed planning of the opencast mining operation finalised.

Otmane El Rhazi : IFM swings to H1 loss

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Interruptions in production, lower sales volumes, higher production costs and one-off items impacted negatively on International Ferro Metals’ (IFM’s) results for the six months ended December 31, resulting in a net loss of R175.6-million, compared with a net profit of R32.3-million in the prior comparable period. IFM CEO Chris Jordaan added that market conditions had also negatively impacted results, with the benchmark ferrochrome price having fallen by more than 6% in the period under review.

Otmane El Rhazi : Port study lowers Hawsons transport costs

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Junior developer Carpentaria Exploration on Monday flagged a near 20% reduction in the estimated supply chain costs for its proposed Hawsons iron project, in New South Wales. The company announced the successful completion of a supply chain prefeasibility study for the Hawsons project, which increased confidence in the project’s economic and technical delivery by bringing the supply chain solution from the conceptual to the prefeasibility stage.

Otmane El Rhazi : Exxaro says to fall into FY loss on impairment

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South African mining house Exxaro said on Friday its full-year earnings would fall to a loss mainly due to a R5.8-billion ($500-million) impairment on its iron ore project in the Congo Republic. The company said in a statement attributable losses for the year to end-December are expected to be between R830-million and R998-million.

Otmane El Rhazi : New block on iron play targeted

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Junior miner, and Toronto-listed, Tsodilo Resources has moved into the next phase of its flagship Xaudum Iron Formation (XIF) project’s exploration programme, targeting Block 2 of the resource. The block is located to the south of Block 1 and is a larger area than Block 1, for which the company defined a large inferred mineral resource estimate in September 2014, Tsodilo president and COO Dr Mike de Wit tells Mining Weekly.

Otmane El Rhazi : Petmin expects 49% increase in H1 earnings

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JSE-listed diversified miner Petmin expects its basic earnings a share for the six months ended December 31 to increase by up to 49% to 84.45c. Headline earnings a share for the six months were expected to be between 8.35c and 8.45c, up 24% to 26% form the 6.71c recorded in the first half of the prior financial year.

Otmane El Rhazi : Cliffs Natural Resources finalises energy agreement in Michigan’s Upper Peninsula

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NYSE-listed Cliffs Natural Resources has finalised an interim power agreement with We Energies for its Michigan operations. The US coal and iron-ore producer on Wednesday said it was one critical step in a series of expected short and long-term agreements that were essential to the viability of its iron-ore mines in the Upper Peninsula (UP).

Otmane El Rhazi : Centaurus hunts for new funding

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Metals developer Centaurus Metals was on the hunt for funding to implement a revised development strategy at its Candonga direct shipping ore (DSO) project, n Brazil, after resource financier RMB Resources abandoned ship. The ASX-listed company has now appointed Canaccord Genuity as lead manager in this hunt, the fruits of which would underpin the advancement of the Candonga DSO project and would fund exploration work at the nearby Conquista project to establish a maiden Joint Ore Reserves Committee compliant resource.

Otmane El Rhazi : Mines are development engines for host countries – ICMM

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Mines are proven engines of economic development for the host countries, which benefit significantly from the foreign direct investment (FDI) that mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country study, which attests to the need strengthen the contribution of mining to economic and social well-being. While the focus of host governments was generally on taxes and royalties, the study showed that a strong new focus needed to be placed on the invaluable long-term benefits of FDI and export earnings.

Otmane El Rhazi : Mines are proven economic engines for host countries – ICMM

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Mines are proven engines of economic development for the host countries, which benefit significantly from the foreign direct investment (FDI) mines attract as well as the export earnings that they generate, the International Council for Mining & Metals (ICMM) has found in a unique 214-country study, which attests to the need strengthen the contribution of mining to economic and social well-being. While the focus of host governments was generally on taxes and royalties, the study showed that a strong new focus needed to be placed on the invaluable long-term benefits of FDI and export earnings.

Otmane El Rhazi : Iron-ore price slump hits Fortescue’s interim profit

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Iron-ore major Fortescue Metals on Tuesday reported a significant slump in after-tax net profit for the half-year ended December on the back of decreased revenue caused by a fall in the iron-ore price. Fortescue’s realised price for the half-year nearly halved to $66/t, compared with the $124/t reported in the 2013 six-month period.

Otmane El Rhazi : Rio confirms rail issues in the Pilbara

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Diversified miner Rio Tinto on Tuesday confirmed a rail bride failure in the Pilbara, prompting the miner to temporarily halt rail haulage from the Brockman 2 and Brockman 4 iron-ore mines. A spokesperson for the company said a structural failure of a small section of a rail overpass, which was currently under construction, had resulted in dirt falling on the rail line below.

Otmane El Rhazi : Impairment dents Mt Gibson profits

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ASX-listed Mount Gibson Iron has swung into the red during the six months ending December, with the miner reporting a net loss after tax of A$869.8-million, compared with a net profit of A$78.3-million in the first half of 2014. The net loss comes after Mount Gibson previously flagged a non-cash impairment charge of A$946.3-million, which came on the back of the declining market conditions, as well as recent development at Mount Gibson’s Koolan Island project, which was idled in December last year.

Otmane El Rhazi : Opposition calls on President to back Minister on developmental pricing issue

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Amidst apparent disagreement in his Cabinet about mining policy, President Jacob Zuma needed to step in and provide leadership so that potential mining investors had certainty about South Africa’s mining policy, Shadow Democratic Alliance (DA) Mineral Resources Minister James Lorimer said on Monday. Great concern had been caused in the mining industry owing to Mineral Resources Minister Ngoako Ramatlhodi reopening of the debate about developmental pricing, the Opposition MP and DA mining spokesperson said in a media release

Otmane El Rhazi : Good governments assume lower commodity prices – O’Neill

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The governments of resource-rich countries should base their financial planning on commodity prices that are lower than the year prior. Should actual commodity prices eventuate that are higher than those assumed, the additional revenue from the higher prices should be treated as a bonus and spent on pursuits that ensure long-term economic sustainability like education, health and technology.

Otmane El Rhazi : African Minerals CEO quits six months into the job

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African Minerals said CE Alan Watling had stepped down with immediate effect, just six months after he was appointed to head the troubled iron ore miner. The company did not give a reason for his departure.

Otmane El Rhazi : Depreciation, restructuring costs to dent Merafe's FY earnings

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JSE-listed Merafe Resources expects its headline earnings a share for the year ended December 31 to drop by between 19% and 26% year-on-year to between 8c and 8.8c. The decrease in earnings was primarily attributable to the accelerated depreciation arising from the scrapping of certain assets, as well as additional depreciation arising from Project Lion II and an increase in borrowing costs expensed as a result of the project’s completion.

Otmane El Rhazi : Mt Gibson ups output expectations

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Iron-ore miner Mount Gibson Iron on Monday has increased its expected sales for the 2015 financial year by an additional 200 000 t, to between 5-million and 5.4-million tonnes, after securing additional rail haulage from its Extension Hill project, in the Mid West. The miner noted that the Extension Hill project’s nominal annual export capacity has been increased by 17%, to 3.5-million tonnes, with the addition of an extra train path from the Perenjori rail siding.

Otmane El Rhazi : Global supply glut, low prices force LIM to stare down bankruptcy filing

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The collapse of iron-ore pricing since the start of 2014 was making life difficult for smaller producers, as the major miners pushed out more of the steelmaking ingredient to leverage economies of scale in the low-price environment. As a result of the down market, Eastern Canada-focused miner Labrador Iron Mines (LIM) on Friday said it would be forced to file for protection under the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act, should it fail in securing additional financing and completing a restructuring.

Otmane El Rhazi : Anglo American reports 25% drop in underlying earnings, $3.9bn in impairment

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Dual-listed mining giant Anlgo American on Friday reported group underlying earnings before interest and taxes (Ebit) of $4.9-billion for the year ended December 31. This was 25% lower year-on-year, owing to sharply weaker commodity prices, partially offset by weaker producer country currencies and higher production and sales volumes.

Otmane El Rhazi : AMSA in formal talks with government on new steel pricing model

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Steel producer ArcelorMittal South Africa (AMSA) has set up four bilateral working groups with various government departments and State entities in a bid to deal decisively with what current CEO Paul O’Flaherty describes as debilitating “legacy issues”, including the highly contentious issue of domestic steel pricing. The regular meetings, chaired by O’Flaherty personally, were being conducted with officials from the Department of Trade and Industry, the Economic Development Department, the Industrial Development Corporation (IDC) and the Competition Commission and cover various themes with the intention of resolving a range of disputes over a three- to six-month horizon.

Otmane El Rhazi : Mining output dips in December

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South Africa’s mining output declined 2% year-on-year in December, as poor performance from the diamonds, iron-ore and platinum-group metals (PGMs) sectors weighed on overall production. The latest data from Statistics South Africa (Stats SA) showed negative growth rates of -27.9% and -15.6% for diamonds and iron-ore, which respectively contributed -3.5 percentage points and -1 percentage point.

Otmane El Rhazi : Assore’s H1 headline earnings down nearly 60%

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JSE-listed mining holding company Assore’s headline earnings for the six months ended December 31, had declined by 59.2% to R990-million, mainly owing to the lower headline earnings recorded by its 50%-owned iron-ore and ferroalloy subsidiary Assmang. The subsidiary’s headline earnings fell by 60.5% to R1.7-billion in the six months under review.

Otmane El Rhazi : Miners urge Indian govt to scrap iron-ore export tax

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The scrapping of the export duty on iron-ore, rather than a reduction in levy or a dual rate, was the only option of reviving India’s share in the global iron-ore export market, local miners said. In a communication to the government just ahead of India’s federal budget later this month, the miners noted that only by scrapping the 30% export tax on iron-ore would India be able to improve its market share in global trade, which slumped to 2% in 2013 compared to 20% in 2008.

Otmane El Rhazi : Kumba could close, sell Thabazimbi mine

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In light of low iron-ore prices, JSE-listed Kumba Iron Ore was reviewing options for its Thabazimbi mine. Speaking at the company’s year-end results, in Sandton, on Tuesday, Kumba CE Norman Mbazima said that, under the circumstances, the mine was “just not making money”, adding that the company was not expecting iron-ore prices to recover this year.

Otmane El Rhazi : Mining industry is ‘basically bust’ – Bristow

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The mining sector is in a sorry state even at current prices and cannot be seen as a viable industry unless it undergoes a major reinvention, says Randgold Resources CEO Mark Bristow. “The harsh reality is that the mining sector has inflicted debt and write-downs on itself without making provision for its long-term future,” he told delegates at the Mining Indaba, in Cape Town, on Tuesday.

Otmane El Rhazi : Guinea Simandou rights auction to start within months – Minister

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Guinea expects to start an auction of the mining rights to half of one of the world's largest untapped iron ore resources in the next two months irrespective of arbitration with previous holder BSG Resources (BSGR), the country's mining minister said. BSGR, a unit of Israeli billionaire Beny Steinmetz's business conglomerate, was stripped of its license to develop part of the Simandou deposit following a Guinean investigation. The company is seeking arbitration and has threatened to sue companies that invest in its former license area.

Otmane El Rhazi : Kumba exceeds FY production target, but feels export price crunch

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JSE-listed iron-ore miner Kumba Iron Ore exceeded the 35-million-tonne production target at its Sishen mine in 2014, owing to the successful implementation of a recovery plan for the mine. Output was 15% higher than the 30.9-million tonnes produced in the prior year and the Anlgo American subsidiary was now aiming for the mine to produce 36-million tonnes of iron-ore this year.

Otmane El Rhazi : African Minerals says no funds to meet $17m coupon payment

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African Minerals Ltd said it did not have money for a $17-million coupon payment on its $400 convertible bonds due February 10, two months after a cash crunch forced it to shut down its Sierra Leone operations. The miner, which was battered by a slump in iron-ore prices and the impact of the Ebola epidemic in West Africa, said its Tonkolili project remained shut even as long-term funding talks with Shandong continued.

Otmane El Rhazi : Iron-ore doomed to 2015 price doldrums, Indaba hears

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The iron-ore market will remain oversupplied in 2015 and iron-ore will sell in the low $70/t price range this year, which has begun even worse than 2014, Wood Mackenzie principal metals and mining consultant Roger Emslie told the Mining Indaba on Monday. Emslie, who sketched how iron-ore had last month hit its lowest level since May 2009, outlined how the metal had slumped to $62/t by the end of January, resulting in a $67/t monthly average.

Otmane El Rhazi : Winmar takes bigger stake in Hamersley

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ASX-listed junior Winmar Resources has taken a bigger slice of the Hamersley iron project, in Western Australia, increasing its interest from 51% to 70%. Winmar’s increased stake in the project formed part of the farm-in agreement with owner Cazaly Resources, which has now diluted its own interest from 49% to 30%. In addition, Cazaly, through its wholly-owned subsidiary Lockett FE has also agreed to transfer its interest of the northern portion of a separate exploration license adjacent to the Hamersley project.

Otmane El Rhazi : African growth tied to trade, not mining – consultant

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Mineral commodities would become less relevant to the development of African countries in the long term as they diversified their economies away from raw resource extraction, said local mining consultancy The MSA Group MD Keith Scott during a panel discussion at research and investment advisory firm Frontier Advisory’s 2015 Africa Outlook conference, held in Johannesburg last month. Fellow panellist and fleet management services provider Skais SPRL MD Salim Dewji concurred with Scott, adding that African countries that could not decouple themselves from commodity dependency would find 2015 very challenging. “If countries like Angola can stop depending on oil and focus. . . on increasing trade with neighbouring countries, such as the Democratic Republic of Congo (DRC), there are incredible opportunities to be had,” Dewji asserted.

Otmane El Rhazi : Chinese slowdown affecting viability of new West African iron-ore projects

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The slowdown in the growth of Chinese steel production has resulted in large-scale reductions in its iron-ore requirements, which has had a significant impact on the viability of new West Africa-based iron-ore projects and the expansion of existing projects, says international research firm Wood Mackenzie. Wood Mackenzie’s gross domestic product outlook for China this year is 7.1%.

Otmane El Rhazi : West African Minerals publishes favourable Sanaga maiden resource

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The maiden mineral resource estimate of Aim-listed West African Minerals’ Cameroon assets has revealed a high-quality iron-ore resource with the potential to be developed into a low-cost, low stripping ratio openpit mining operation. The Sanaga licence recorded a Canadian Institute of Mining, Metallurgy and Petroleum- (CIM-) compliant inferred mineral resource of 82.9-million tonnes at 32.1% iron (Fe) at a 25% Fe cutoff grade to a depth of 150 m below surface.

Otmane El Rhazi : More Chinese iron ore mines seen shutting in 2015-executive

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About a third of China's iron ore mines have halted production and this could rise as high as 45 percent by the end of the year if the price of the steelmaking raw material stays below $70 a tonne, a local mining executive said on Thursday. "I think this is going to get worse and worse," Pan Guocheng, president of the China Hanking Group, told an industry conference in Beijing.

Otmane El Rhazi : India may cut iron ore export duty for Goa state

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India is considering cutting the export duty for the low-quality iron ore produced by the country's biggest exporting state Goa, the mines and steel minister said, a move that could boost shipments to China and put more pressure on global prices. The idea was welcomed by top private miner Sesa Sterlite Ltd, though some steel companies were critical.

Otmane El Rhazi : US investor stakes claim in Fortescue

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US investment firm The Capital Group Companies has taken a 5.02% shareholding in iron-ore major Fortescue Metals, announcing on Thursday that it had paid an average price of A$2.34 a share. Fortescue shares were trading at a high of A$2.55 on Thursday.

Otmane El Rhazi : Sable lifts Nimba resource to 205Mt

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Following the completion of further exploration drilling, the Joint Ore Reserves Committee-compliant resource at Aim-listed Sable Mining Africa’s Nimba project, in south-east Guinea has increased to 205.2-million tons. The resource had been updated from the previously estimated 181.8-million tons.

Otmane El Rhazi : Around 12mt of iron ore stuck at Indian ports -officials

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Around 12-million tonnes of low-grade iron ore has been stuck at Indian ports for months, stranded as hefty export taxes and plunging prices make higher quality ore more appealing to buyers, said industry and government officials. Indian steel producers, many of which have been buying iron ore overseas amid short supply at home, are unable to use the low-grade material, which is typically shipped to top market China.

Otmane El Rhazi : Technical value of Sula’s Sierra Leone project rises 50%

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Work undertaken by London-listed Sula Iron & Gold on its Ferensola iron project, in Sierra Leone, over the past year has increased the technical value of the asset by more than 50%. The iron, gold and coltan miner on Tuesday said a review by SRK Exploration Services showed an increase in the technical value of the licence area to $56-million, with the maximum potential value of the exploration asset reaching $210-million.

Otmane El Rhazi : Corizon delivers maiden resource at Yarraloola

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ASX-listed junior Corizon Resources has declared a maiden mineral resource of 73.1-million tonnes, grading 53.9% iron at its Yarraloola project, in Western Australia. The resource estimate included an inferred resource of 20-million tonnes, grading 55.7% iron, which was open at the north, east and west in most areas. Corizon said on Tuesday that further drilling would be required to close the envelope.

Otmane El Rhazi : Cliffs Natural stock rises on Q4 profit trumping analyst prospects

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The NYSE-listed stock of US iron-ore and coal producer Cliffs Natural Resources on Monday rose after the company beat earnings expectations despite shuttering its Eastern Canadian operations and grappled with sluggish demand and prices for both commodities. Excluding one-off items such as negative Eastern Canadian iron-ore operating margins and asset impairment charges totalling $1.2-billion, Cliffs reported net income of $166-million, or $1 a share, beating average Wall Street analyst expectations of earning $0.13 a share for the three months ended December.

Otmane El Rhazi : African Minerals secures another $6.7m

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Another $6.7-million has been released from the Tonkolili iron-ore project’s restricted bank account in Hong Kong to pay January salaries and taxes due in Sierra Leone, embattled miner African Minerals said on Monday. The company’s partner and 25% owner of the Tonkolili project, Shandong Iron and Steel Group (SISG) earlier this month agreed to release $12.96-million of the funds to pay December salaries and accumulated taxes due in Sierra Leone.

Otmane El Rhazi : Centaurus ticks another box at Candonga

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The Brazilian Department of Mines ahs approved a trial mining license application over ASX-listed Centaurus Metals’ Candonga direct shipping ore (DSO) project. The approval, which was subject to the receipt of an operating license from the state environmental agency, represented the penultimate approval required before the issue of the formal trial mining license, Centaurus said on Monday.