News Articles for Zijin Mining Group

Xanadu Mines has unveiled a prefeasibility study of biblical proportions at its Kharmagtai copper-gold project in Mongolia's South Gobi Desert, including a pre-tax US$1.4 billion NPV, an IRR of 31 per cent at spot commodity prices and a mine life of nearly three decades. The study confirms the project's potential as a globally-significant, low-cost, long-life mining operation.

Xanadu Mines has launched into maiden field programs at its Sant Tolgoi copper-nickel project in northern Mongolia. The company says detailed mapping and sampling programs are well underway at the site, with early indications of multiple shallow copper-nickel sulphide targets. Management believes it has multiple copper-nickel targets at Sant Tolgoi, with the potential for new district-scale copper discovery.

Xanadu Mines has revealed a significant increase in the mineral resource estimate for its flagship Kharmagtai copper-gold project in Mongolia, reporting a 463,000-tonne increase in contained copper and a 746,000-ounce rise in contained gold. The boost has been driven by both the results of new drilling at the White Hill deposit and a refined pit design generated as part of the company's current prefeasibility studies.

Strickland Metals has entered the lucrative Serbian gold game after acquiring the Rogozna project that already boasts a whopping resource of 5.44 million JORC-compliant ounces of gold equivalent. The company says advanced exploration targets at Rogozna offer near-term growth, with diamond drilling outside of the existing resource going as high as a staggering 352m at 2.1 grams per tonne gold equivalent from 240m.

AVZ Minerals has launched arbitration proceedings against its project partner, a state-owned entity in the Democratic Republic of Congo, in the latest development of an ongoing ownership dispute.

Aspiring lithium miners face challenges and opportunities as they race to turn prospects into production.

SMS Rental is suing a Norton Gold Fields-related company for almost $13 million, alleging the Kalgoorlie business has failed to pay invoices issued for mining and maintenance services.

Billionaire geologist Robert Friedland's Oyu Tolgoi copper-gold discovery in Mongolia is of biblical proportions and just 120kms to its north west, ASX-listed Xanadu Mines is onto a copper-gold discovery that has already ticked over a billion-tonne resource and counting. Xanadu's Kharmagtai deposit is now taunting the market with its potential in a region that is capable of brewing ridiculous sized mineral deposits like Oyu Tolgoi.

Adriatic Metals has drawn down the first $30m tranche from a $142.5m debt package to keep the wheels spinning on its Vares silver mine development in central Bosnia and Herzegovina. The project has passed the halfway mark of construction, is fully-funded and is on track to begin processing by September 2023. The company is also committing to legacy projects in a once-thriving nearby community.

AVZ Minerals has extended the suspension of its shares after pushing out the target completion date for a company-defining deal for its lithium project in Africa.

Junior gold and lithium explorer Kairos Minerals has appointed Klaus Eckhof and Peter Turner to lead the company.

The EPA will undertake consultation this week to determine whether or not to assess the proposed Binduli North project in the state's Goldfields.

Graphex Mining is pleased to advise that it has received subscriptions to purchase 8,750,000 fully paid ordinary shares at $0.28 cents per share to raise $2.45 million through a placement to profes

Taejin Kim has resigned as a non-executive director of Stargroup. Mr Kim had joined the board of Stargroup in 2015.

Evolution Mining appears close to finalising a protracted takeover bid for smaller rival Phoenix Gold, with both companies announcing their boards had reached an agreement after Evolution increased the cash component of its offer.

Phoenix Gold has reiterated shareholders should reject a cash and scrip takeover offer from Evolution Mining, even though a rise in Evolution's share price has boosted the value of the deal.

Phoenix Gold shareholders will be hoping for an improved takeover offer from Evolution Mining, after a proposal to acquire the business was knocked back by Phoenix directors today.

An independent expert's report has put a minimum valuation on Phoenix Gold shares of 15.6 cents, well above the two competing takeover offers for the Kalgoorlie company.

Three fast-growing gold miners have undertaken further expansion moves in Western Australia, with Evolution Mining announcing its intention to make a takeover offer for Phoenix Gold.

Gold is a rare bright light in the mining industry, with major changes during the past two years to be followed by the opening of multiple new mines and more M&A deals. Click through to find the special report, which ranks WA producers, and looks at Gold Corp, executive pay, and new gold projects.

Chinese company Zijin Mining Group has pressed ahead with its unsolicited takeover bid for Phoenix Gold, despite Evolution Mining's recent on-market acquisitions at a price 20 per cent above that which Zijin is offering.

Upwards of 130 corporate finance transactions worth more than $11 billion were announced in WA in the June quarter, but most notable was a handful of landmark M&A deals.

Phoenix Gold has taken a planned vote on an alliance with Evolution Mining off the agenda of its general meeting, being held today, after Zijin Mining Group made a play to take ownership of the company in a cash deal worth $47 million.

The tussle for control of Phoenix Gold intensified today after Zijin Mining Group struck a pre-sales agreement with one of the miner's largest shareholders, boosting its interest to 17.9 per cent ahead of announcing a cash takeover bid that values the business at $47 million.

Zijin Mining Group has increased its offer to buy all the shares it doesn't own in Norton Gold Fields to 25 cents a share, boosting the value of the deal to about $41 million.

Perth-based gold producer Norton Gold Fields says it has received a $32.7 million takeover proposal from its majority shareholder Zijin Mining Group.

China-backed Norton Gold Fields has just about wrapped up its all-scrip takeover of Kalgoorlie Mining Company, declaring its bid is now free from all conditions.

Chinese-backed miner Norton Gold Fields has opened its $40 million Enterprise base-load mine on the outskirts of Kalgoorlie.

China's second largest gold producer will invest $20 million in Perth-based explorer NKWE Platinum under a strategic partnership agreement announced today.

Competition in the state's investment banking sector is hotter than ever despite a fall-off in takeover deals and capital raisings last year.

CHINESE investment in Australia may have slowed as uncertainty continues about the value of commodities, but it has not stopped.

WITH some experienced campaigners suggesting the current mergers and acquisitions market is the worst they have ever seen, there is plenty of finger pointing to overly exuberant deals of the past f

Norton Gold Fields says it has completed a private placement to a Hong Kong-based investment group to raise $27.7 million and reduce its overall debt.