Evraz PLC (LSE:EVR) said it is preparing for a “severe downside scenario” as the situation in Eastern Europe worsens.
The steel giant with a listing in London said in its financial report released today that the “situation related to Ukraine has further increased economic uncertainty and the risk of the imposition of sanctions.”
Ferrexpo PLC (LSE:FXPO) has issued force majeure notices to certain customers following the invasion of Ukraine by Russia.
The world's third-largest exporter of high-grade iron ore pellets said export activities at the port of Pivdennyi, located in southwest Ukraine, have been temporarily suspended following notification from the port authorities. Ferrexpo uses the port to ship pellets to customers.
Bens Creek said all remedial work on the preparation and wash plant at its US-based metallurgical coal mine has been completed and it will undergo two weeks of final testing before full operations start.
The remediation work included substantial repairs and upgrades including an evaluation and replacement of conveyors, dryers and screens.
Power Metal Resources PLC (AIM:POW) has highlighted that it has exposure to multiple commodities listed on the United States Geological Survey's List of Critical Minerals, published earlier this week.
The company, in a statement, noted that the list is updated every three years and that the 2022 edition has included nickel and zinc.
Jangada Mines PLC (AIM:JAN) has received the fifth tranche of 500,000 shares in ValOre Metals (TSX-V:VO), relating to the sale of its Pedra Branca platinum project in Brazil.
AIM-quoted Jangada agreed in 2019 to sell its interests in Pedra Branca to ValOre in a cash and shares deal, payable in several tranches.
Cloudbreak Discovery PLC (LSE:CDL) has inked an option agreement for the Rizz Project, in Canada, spanning some 5,415 hectares of mineral titles in north western British Columbia.
The company will divest to a vehicle known as BCCo (1311516 BC Ltd) which can earn a 75% interest in Rizz by spending C$750,000 on exploration over a three-year period.
Horizonte Minerals PLC (AIM:HZM, TSX:HZM, OTC:HZMMF) has awarded the contract to build the furnace at its Araguaia ferronickel project to Hatch Ltd.
Hatch has a strong track record in South America, Horizonte said, which includes both Anglo American's and Vale's nickel operations in Brazil and South 32's Cerro Matoso operation in Colombia.
Kavango Resources PLC (LSE:KAV, OTC:KVGOF) has been granted an extension on its exclusive option to acquire 85.23% of Kalahari Key Mineral Exploration Proprietary Limited (KKME).
Kavango now has until close of business on Monday 28 February 2022 to exercise the option.
Eurasia Mining PLC (AIM:EUA) has reiterated that it expects no impact on its operations from western sanctions imposed on Russia.
The miner, which has operations in Russia producing palladium, platinum, rhodium, iridium and gold, has seen its share price tumble 60% over the past week as the hostilities have escalated.
It’s an ill wind that blows nobody any good and if you are heavily invested in gold, today is a good day for your portfolio.
Unless you are invested in Russian mining companies but we’ll get to them in a minute.
Anglo American PLC (LSE:AAL) was the latest of the large diversified mining companies to report record earnings for 2021 due to strong commodity prices.
READ: Rio Tinto posts record full-year results, highest ever dividend
Empire Metals Ltd (AIM:EEE) said it started drilling at the Gindalbie gold project in Western Australia after signing an agreement with Maher Mining Contractors Pty Ltd.
The agreement gives Empire the exclusive right to explore, develop and mine within a granted area on Maher Mining's 100% owned mining lease M27/158, which is adjacent to the eastern border of Empire’s Eclipse licence area and extends the current exploration area by more than 200%.
Mila Resources PLC (LSE:MILA) said gold mineralisation was intersected by the first hole drilled at the Kathleen Valley gold project in Western Australia.
The drill hole intersected about 7.35 metres (m) of sulphide mineralisation from a depth of 178.1m.
W Resources PLC (AIM:WRES) said fundraising talks are progressing well and that it expects to announce details in the next few days.
The AIM-traded company said the documentation was being finalised.
Caerus Mineral Resources PLC (LSE:CMRS) and Bezant Resources PLC (AIM:BZT) announced encouraging results from dump sampling and drilling at their Troulli, Kokkinapetra and Anglisides joint venture projects in Cyprus.
At Troulli, the average copper grade from stockpile sampling was 1.2%; tailings sampling returned an average grade of 0.4% copper and 0.2 grammes a tonne (g/t) gold, double the projected grade; while drilling results showed copper and gold mineralisation outside main Troulli deposit area.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) has signed an exclusive UK marketing and distribution agreement with Minralis for a range of graphite-based flame retardant products.
The products have been developed by TSG, over which Tirupati has a binding option to acquire 100%, which is targeting the UK where there is need for new flame retardant technology following the Grenfell Tower tragedy.
Ora Banda Mining Ltd (ASX:OBM) has completed a A$5 million institutional placement and a A$7.7 million institutional entitlement offer.
The company received firm commitments of A$5 million for its placement of new fully paid ordinary shares to sophisticated and professional investors and around A$7.7 million for the institutional component of its 4-for-13 accelerated non-renounceable pro-rata entitlement offer.
Two Russian-affiliated mining companies saw shares rise after saying they will not be affected by new sanctions imposed on Russia.
Eurasia Mining PLC (AIM:EUA) and Amur Minerals Corporation (AIM:AMC, OTC:AMMCF), which are both heavily invested in Russian mining, alerted investors that latest sanctions would not have an impact on their operations, saying no individual or entity were linked in any way.
Power Metal Resources PLC (AIM:POW) said Australian arm First Development Resources has been granted three exploration licences at the Selta uranium project.
The formal grant of the licences triggers the issue of FDR stock to the vendors of URE, which sold the Northern Territory-based project to the Power Metal subsidiary in November.
Rio Tinto PLC (LSE:RIO) reported record full-year results and its highest ever dividend, including a special payout, as the world’s largest mining companies continued to reap the benefits of strong commodity prices.
READ: BHP posts better-than-expected interim dividend, underlying earnings
Alien Metals Ltd (AIM:UFO, OTC:ASLRF) said it issued 50 million new shares to Windfield Metals Pty Ltd as part of a joint venture agreement relating to the Hamersley iron ore project in Western Australia.
Alien Metals met the first performance target under the agreement, which will eventually see it acquire a 51% stake in the project, last September when it announced a maiden inferred resource estimate of more than 10 million tonnes.
Great Western Mining Corp PLC said the results of recent spoil heap material sampling at the Mineral Jackpot claim in Nevada were ‘highly encouraging’.
Several high-grade gold and silver veins had been worked at surface and underground in historic mining activity, resulting in a substantial quantity of waste material remaining at surface around these workings in the form of spoil heaps.
Technology Minerals PLC (LSE:TM1) said it received copies of five exploration permits in Cameroon that were applied for by Technology Minerals Cameroon Ltd (TML), a subsidiary of Onshore Energy Ltd (OEL), and that it is verifying the validity of the permits.
Technology Minerals had agreed to buy the cobalt and nickel exploration licences from OEL under a share deal and reserved 84 million of its shares to issue to OEL providing the permits were granted no later than 31 December 2021.
Sunstone Metals Ltd (ASX:STM) has confirmed the existence of a large, mineralised copper-gold porphyry system at the El Palmar Project in Ecuador after receiving strong assay results from two more exploratory drill holes.
In light of this, Sunstone has moved to increase its interest in the project to 70% from 51% by paying US$300,000 to the project vendor under the Staged Acquisition Agreement.
Evolution Energy Minerals Ltd (ASX:EV1) has been accepted as a member of the European Battery Alliance (EBA), a platform for key stakeholders across the European battery anode material value chain.
The EBA was launched in October 2017 by the European Commission to bring together key groups in the battery material, technology and financing sectors covering the battery value chain.
Perseus Mining Ltd (ASX:PRU, TSX:PRU, OTC:PMNXF) has achieved the target of annual gold production of 500,000 ounces and increased half-year revenue by 90% to A$545.7 million compared to the corresponding half year period of FY21.
The company made solid financial gains across the board during the half year to December 31, 2021, increasing earnings before interest, taxes, depreciation and amortization (EBITDA) by 101% to A$252.4 million and profit after tax 159% to A$126.9 million.
Sipa Resources Ltd (ASX:SRI) will increase focus on its extensive Western Australian portfolio of gold and base metal projects after arranging the sale of Akelikongo Nickel-Copper Project in Uganda to London Stock Exchange listed Blencowe Resources PLC (LSE:BRES).
The terms of the staged option agreement will see Sipa receive US$1.5 million in Blencowe shares staged over four separate milestones, assuming successful advancement through all four stages.
(Please note, this article was originally published on Tuesday)
A lot of stocks with Russian connections were getting hammered on the London stock market on Tuesday.
Tensions in Ukraine intensified further in the last 24 hours, with Vladimir Putin ordering troops into two Russian supporting areas of the country.
Gold bullion, traditionally a haven for money in times of crisis jumped on the news and briefly moved above US$1,900 on 21 February and within reach of the US$2,000 an ounce landmark.
IGas Energy Plc (AIM:IGAS), an energy company and the parent of geothermal heat developer GT Energy UK Ltd, and Cornish Lithium struck a deal to explore commercially viable geothermal heat generation sites in Cornwall.
Cornish Lithium has created 3D models of the sub-surface geology and mineral potential of the area and has secured extensive land and mineral rights agreements in the South West of England.
Antofagasta PLC (LSE:ANTO) reported record earnings for 2021 as higher copper and molybdenum prices outweighed a dip in production.
The FTSE-100 miner posted a 77% jump in underlying earnings (EBITDA) to a record US$4.84bn (£3.5bn) even amid higher operating costs. Revenue grew 46% to US$7.47bn.
Shares in John Wood Group PLC plummeted after the company said it expects to report a US$100mln exceptional charge in its full-year results for 2021 on the Aegis Poland project.
The project, which involves the construction of buildings to house the Aegis Ashore anti-missile defence facility for the US Army Corps of Engineers, is a legacy from Wood Group's acquisition of Amec Foster Wheeler.
Tirupati Graphite PLC (LSE:TGR, OTCQX:TGRHF) said Tirupati Graphene and Mintech Research Centre (TGMRC) has successfully delivered its first commercial contract with the development of a mineral processing technology solution for Optiva Resources Ltd.
The two-stage process will enhance Optiva’s extraction of vanadium, titanium, magnetite from its Marela project in Guinea and enable it to process these into saleable concentrates and end products.
Galileo Resources PLC (AIM:GLR) said it made a second payment to secure an initial 75% interest in the Luansobe copper project in Zambia.
The US$200,000 (£147,000) payment and the issue of 5mln shares to Statunga Investments is part of a joint venture agreement covering the project.
PYX Resources Ltd (LSE:PYX, NSX:PYX) told investors it performed strongly in the fourth quarter thanks to a boost in premium zircon production, sales volume growth, and ongoing price increases.
The company, in a statement, said it produced 2,192 tonnes in the three months ended December 31, marking a 33% increase in production volumes year-on-year, whilst total volumes for the year was up 10% to 7,233 tonnes.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has reported that one of its employees at the Blanket Mine in Zimbabwe was killed in an underground loading accident.
Andrew Clydon Phiri (aged 35), died in the incident on 21 February 2022 and that involved a LHD loader in one of Blanket's underground haulages.
Technology Minerals PLC (LSE:TM1) announced the results of 27 rock samples collected at the Oacoma project in South Dakota, confirming the presence of rare earth oxide minerals.
Two samples showed total rare earth oxide values of 0.22% and 0.34%, with associated neodymium oxide and praseodymium oxide values respectively of 0.034% and 0.037% NdPr.
Blencowe Resources PLC (LSE:BRES) bought the right to earn in to the Akelikongo nickel sulphide and copper project, which is located near to its Orom-Cross graphite project in Northern Uganda.
The project was previously jointly owned by Rio Tinto and Sipa Resources until May 2020.
Thor Mining PLC (AIM:THR, OTC:THORF, ASX:THR) reported positive results from the first phase of drilling at the Alford East copper-gold project in Australia.
Drilling on the northern portion of the Alford East deposit intercepted higher copper and gold grades than found in the resource estimate which used historic drill hole information.
Ora Banda Mining Ltd (ASX:OBM) has launched an equity raising campaign for up to A$20 million comprising an institutional placement of up to A$5 million and a 4 for 13 accelerated non-renounceable entitlement offer to raise approximately A$15 million.
Proceeds together with the company’s existing cash balance will be used for exploration costs, drilling, operational improvements and working capital and offer costs.
Ora Banda Mining Ltd (ASX:OBM) has delivered strong operational and drilling progress, including first pass regional aircore (AC) and reverse circulation (RC) drilling, across its portfolio of gold assets in Western Australia
The company produced 5,185 ounces of gold in January, after milling more than 90,000 tonnes of ore – progressing towards a nameplate capacity of 100,000 tonnes per month.
Anglo American PLC (LSE:AAL) has resumed operations at its Grosvenor metallurgical coal mine in Queensland, Australia, more than 20 months after a methane explosion injured personnel and prompted a suspension of longwall mining.
The FTSE 100 miner said it received confirmation on February 16 from Resources Safety and Health Queensland that longwall mining operations could now resume.
Rio Tinto PLC (LSE:RIO) looks set to keep its crown as the dispenser of mega dividends when it releases full-year results on Wednesday.
Based on payments over the last year, the mining giant and despoiler of Aboriginal heritage sites is already the king of London's dividend payers, coughing up £5.5bn over the last year, putting it a cool half a billion ahead of Shell PLC (LSE:SHEL, NYSE:SHEL, EURONEXT:SHELL), the oil titan.
W Resources PLC (AIM:WRES) said a previously announced fund raising is expected to be completed early this week.
Discussions regarding the fund raising, which is expected to be in the form of debt, are at a very advanced stage, said the tungsten, tin and gold mining company.
Oriole Resources PLC (AIM:ORR) has received notice from its partner IAMGOLD Corporation confirming that IAMGOLD has duly exercised the first of the options it holds on the Senala gold joint venture project in Senegal.
IAMGOLD has the option to spend up to US$8mln on Senala to earn a 70% interest.
Emmerson PLC (AIM:EML) has named Jim Wynn as chief financial officer with immediate effect.
Wynn recently held the CFO position at Moxico Resources, and before that Rainbow Rare Earths.
Savannah Resources PLC (AIM:SAV, ETR:SAV, OTC:SAVNF) has finalised its process flowsheet for the production of spodumene concentrate at its 100%-owned Barroso lithium project in Portugal.
Minsol Engineering, a leading metallurgical consultant, is satisfied that the flowsheet, which has been tested and refined over the past eight months, is now finalised and ready to be adopted for detailed engineering studies as part of a definitive feasibility study.
Conroy Gold and Natural Resources PLC (AIM:CGNR, OTC:CGDNF) said results from two holes drilled at the Clontibret gold deposit in Ireland by Demir Export AS confirmed previous exploration work and made a new discovery.
Demir Export, a Turkish mining company, drilled the holes as part of its due diligence and validation programme prior to entering into a joint venture agreement with Conroy Gold. The two companies signed the joint venture agreement last month.