Evolution Mining climbs to 4-year high on upbeat Q2 production, bullion prices
The company reported a quarterly group gold production of 194,793 ounces, compared with 161,073 ounces a year earlier.
Fortescue Metals Group has discovered more than one billion tonnes of iron ore in Western Australia’s Pilbara and aims to develop it rapidly. Sydney Morning Herald reports:
The new project, named Nyidinghu, is about 35 kilometers south of Fortescue’s first mine, Cloudbreak, and contained an inferred resource of 1.032 billion tonnes of ore at a grade of 58 per cent iron, the company said.
In a statement to the stock exchange issued several hours after the market closed, Fortescue said the 1.03 billion tonnes of high-grade Brockman ore was in the inferred category of Australia’s mineral reporting code, the least proved-up category.
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