Cochilco lowered its average copper price prediction for this year by $0.03 to $2.97 per pound on Thursday in its second negative projection in six months.
Ghana will seek to raise $750m through a sale of shares in a fund that will hold the West African nation’s stakes in mining companies and receive royalties.
The Germany-based fertilizer producer now forecasts earnings before interest, taxes, depreciation and amortisation (EBITDA) between 570 and 630 million euros, compared with previous forecast of 660 to 740 million euros.
Silver Range sampled the back of a collapsed stope in the Gold Chief property and the results returned 14 m at 1.93g/t gold including 4 m at 3.86 g/t gold.
The company acquired the remaining 50% in the joint venture from its previous partner and said negotiations were already advanced with an unnamed potential new associate.
The company said the expansion, to start in early 2019, would add an average 60,000 tonnes of copper a year to its production over the first 15 years of operation.