Tag: Barminco

Sunrise Dam: strong finish

Sunrise Dam: strong finish

ANGLOGOLD Ashanti’s assets have performed well in 2019, with overall production ncreasing by 7pc in the first quarter from 801,000oz from 752,000oz – despite a drop in production at Sunrise Dam in WA. At Sunrise Dam, production was 11pc lower at 136,000oz for the first six months ended une 30, 2019, compared to 153,000oz during the same period last year. The drop in production was due to a lower mill feed grade and lower metallurgical recovery from the ore mined. The drop at Sunrise Dam, plus lower grades and plant throughput from the company’s Siguiri asset and a planned production decrease at the Cerro Vanguardia site, was partially offset by strong improvements from Kibali, Iduapriem, Geita and Tropicana. Chief executive…

Ausdrill bolsters market share with Barminco acquisition

Ausdrill bolsters market share with Barminco acquisition

Image: Barminco. BY REUBEN ADAMS AUSDRILL’s “compelling” $271.5 million acquisition of underground mining contractor Barminco would create Australia’s second largest mining services company. Ausdrill will acquire Barminco – its current partner in the lucrative African Underground Mining Service (AUMS) joint venture – in exchange for 150.7 million Ausdrill shares and $25.4m in cash; equivalent to an equity acquisition price of $271.5m. Once the transaction is completed, Barminco vendors will own about 22.1 per cent of the enlarged Ausdrill, with experienced company director and current Barminco non-executive chairman Keith Gordon to join the Ausdrill board. The acquisition announcement accompanied a set of outstanding full year results from diversified mining services company Ausdrill, including a year-on-year net profit increase of 95.7 per…