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Australasia News

Lower South Deep output dents Gold Fields’ FY18 profit 

By: Tasneem Bulbulia     15th February 2019 Dual-listed Gold Fields achieved normalised profit from continuing operations of $27-million for the year ended December 31, 2018, compared with the $154-million posted for 2017.   The company’s profit was dented by a decline in output, led by its South Deep mine in South Africa. 

Nevada like Witwatersrand of 1970s – Bristow 

By: Martin Creamer     15th February 2019 Nevada is like the Witwatersrand of the 1970s, says new Barrick Gold president and CEO Dr Mark Bristow, whose Randgold Resources is now merged into Barrick to form the world’s biggest gold mining company, which is also an extractor of copper, a metal that Bristow sees as “another gold”. The brand... 

Nevada like Witwatersrand of 1970s – Bristow
Barrick Gold CEO Dr Mark Bristow

Australian miner Fortescue says 2 driverless trucks involved in low-speed incident

By: Reuters     15th February 2019 Australian iron-ore miner Fortescue said on Friday that one of its driverless trucks, travelling at low speed, ran into another that was parked at its remote Western Australian operations in an incident earlier this week. No-one was hurt or at risk of being injured in the Febuary 11 incident,... 

NRW settles RCR buy

By: Esmarie Iannucci     15th February 2019 Mining services provider NRW Holdings has completed the A$10-million purchase of RCR Mining and RCR Heat Treatment from the administrators of RCR Tomlinson. RCR Mining includes the mining technologies business which owns intellectual property across a range of products and processes, and is an... 

Whitehaven posts record profits

By: Esmarie Iannucci     15th February 2019 Coal miner Whitehaven Coal has reported a record net profit after tax for the first half of 2019, on the back of an 11% increase in sales revenue. Net profit after tax for the six months to December reached A$305.8-million, up 19% on the previous corresponding period, after revenues increased to... 

Gruyere only months away from first production

By: Esmarie Iannucci     15th February 2019 Gold miner Gold Road Resources is expecting the Gruyere joint venture (JV) with Gold Fields to produce between 100 000 oz and 120 000 oz this year, the company said on Friday. The Western Australia-located project is expected to produce its first gold during the June quarter, with commercial... 

NT moves to clarify offshore oil, gas industry’s nuclear waste obligations

By: Esmarie Iannucci     15th February 2019 The Northern Territory has passed the Nuclear Waste Transport Storage and Disposal (Prohibition) Amendment Bill, providing the offshore oil and gas industry with a blueprint of their obligations around the management of nuclear waste. The nuclear waste covered by the Bill included naturally... 

Proposed Olympic Dam expansion declared ‘major development’

By: Esmarie Iannucci     15th February 2019 Mining giant BHP’s expansion plan at its Olympic Dam project, in South Australia, has seen the project declared a major development by the state government. The proposed $3-billion expansion will increase copper production at Olympic Dam by some 75%, from 200 000 t/y to 350 000 t/y, and will... 

Proposed Olympic Dam expansion declared ‘major development’

Tin use in batteries may rise to 60 000 t by 2030 – industry group

By: Reuters     15th February 2019 Tin could see a surge of new demand from lithium-ion batteries for electric vehicles and energy storage of up to 60 000 t a year by 2030, the International Tin Association (ITA) said on Thursday. Investors have been excited about the prospects for increased consumption of other metals, such as... 

Gold Fields FY profit slumps as production drops

By: Reuters     15th February 2019 South Africa's Gold Fields Ltd said on Friday its full-year profit slumped 73%, dented by a decline in bullion production led by its South Deep operations. Headline earnings per share (HEPS) fell to $0.07 per share, for the full year ended Dec. 31, 2018, from $0.26 in the previous year. 

Gold Fields FY profit slumps as production drops
Photo by Creamer Media
Gold Fields CEO Nick Holland

Lithium Australia progresses towards producing cathode powders in Europe

By: Marleny Arnoldi     14th February 2019 ASX-listed Lithium Australia has identified a metallurgical process route which may provide security for the European renewable energy industry. The company aims to produce lithium from unconventional sources, using mine waste from the Sadisdorf lithium/tin project, in Saxony.  

Champion considers doubling Bloom Lake capacity

By: Mariaan Webb     14th February 2019 Quebec iron-ore miner Champion Iron is considering doubling the capacity of its Bloom Lake mine, near Fermont, and will complete a feasibility study before the end of the year. Pending a positive decision resulting from an economical feasibility study, construction could start in late 2019 or... 

South32 finalising preferred list of coal mine bidders 

By: Martin Creamer     14th February 2019 The complete preferred list of bidders for South32’s energy coal interests is still being finalised, South32 CEO Graham Kerr told Mining Weekly Online on Thursday, when he also provided three reasons why the company’s Australian manganese operations are doing better than its South African... 

South32 finalising preferred list of coal mine bidders
Photo by Creamer Media
South32 CEO Graham Kerr

Australia's Queensland Rail says expects to repair flooded track within 6 months

By: Reuters     14th February 2019 Australia's Queensland Rail said on Thursday that it expects a rail track hit by flooding this month that has disrupted zinc shipments from major producers like Glencore to be repaired within the next six months. The 1 000 km (620 mile) rail line is used by miners including Glencore, MMG Ltd and... 

Barrick advancing autonomous gold production – Bristow 

By: Martin Creamer     14th February 2019 Autonomous production systems and projects are being advanced across Barrick Gold as the group focuses on boosting mining efficiency, new Barrick president and CEO Dr Mark Bristow tells Mining Weekly Online. This is part of an all-out drive by Bristow to ensure that Barrick, into which Randgold... 

Barrick advancing autonomous gold production – Bristow
Barrick Gold CEO Dr Mark Bristow

Flinders shareholders get a say

By: Esmarie Iannucci     14th February 2019 The share price of Flinders Mine increased by more than 33% on Thursday after the company said that it would seek shareholder approval to de-list from the ASX, to avoid orders from the Takeovers Panel. A number of Flinders shareholders turned to the Takeovers Panel, after Flinders applied to... 

Ramelius settles Marda buy

By: Esmarie Iannucci     14th February 2019 Gold miner Ramelius Resources has completed the acquisition of the Marda gold project, in Western Australia, from the creditors of Black Oak Minerals. Ramelius in September of last year announced plans to purchase the Marda gold project from the liquidators of Black Oak Minerals, for A$13-million. 

Carnarvon raises A$50m

By: Esmarie Iannucci     14th February 2019 ASX-listed Carnarvon Petroleum will raise A$50-million through a placement to institutional and sophisticated investors to fund appraisal and exploration activities in the North West Shelf. The company will issue some 151.6-million new shares, at an issue price of 33c a share to sophisticated... 

Newcrest profits soar in first half

By: Esmarie Iannucci     14th February 2019 Gold miner Newcrest Mining has reported a 142% surge in profits for the first half of 2019, while underlying profits increased by 104% on the previous corresponding period. Newcrest on Thursday reported a statutory profit of $237-million and an underlying profit of $237-million, while cash flow... 

Liontown raises cash for lithium plays

By: Esmarie Iannucci     14th February 2019 Lithium hopeful Liontown Resources was hoping to raise up to A$7.9-million through a share placement to fast-track exploration and development activities at its Austarlian lithium projects. The ASX-listed company on Thursday said that it would undertake a one-for-five non-renounceable pro-rata... 

Technology to change the face of Australia’s mining jobs

By: Esmarie Iannucci     14th February 2019 A new report by advisory firm Ernst & Young (EY) has revealed that technological advances will have a significant impact on the Australian resources sector, with some 77% of jobs in the Australian mining sector likely to be enhanced or re-designed due to technology, within the next five years. In... 

Australia targets 24 000 jobs with new resources policy framework

By: Esmarie Iannucci     14th February 2019 The Australian federal government on Thursday released a National Resources Statement, outlining plans to attract investment, develop new resources and markets and share the benefits of success with more regional communities. This is the first such statement for more than 20 years. 

South32 hikes Illawarra guidance, posts 17% jump in H1 profit

By: Esmarie Iannucci     14th February 2019 Diversified miner South32 has reported a solid first half for the six months ending December, with increases in revenue, profit and underlying earnings before interest, tax, depreciation and amortisation (Ebitda). South32 on Thursday reported that revenue for the first half of 2018 was up 9% on... 

South32 hikes Illawarra guidance, posts 17% jump in H1 profit
South32 CEO Graham Kerr

Lower grades, higher costs contribute to lower FY18 adjusted earnings for Barrick 

By: Marleny Arnoldi     13th February 2019 Since merging with Randgold Resources six weeks ago, Barrick Gold Corporation on Wednesday said it has made progress in achieving its short-term priority goals and its full-year objectives. Barrick expects to produce between 5.1-million and 5.6-million ounces of gold and between 375-million and... 

Lower grades, higher costs contribute to lower FY18 adjusted earnings for Barrick

Bristow snaps into fast action wearing Barrick crown 

By: Martin Creamer     13th February 2019 Dr Mark Bristow has snapped into fast action wearing the Barrick crown. His Randgold Resources, which now falls under the Barrick Gold umbrella, on Wednesday bowed out with panache when it declared a 35% dividend increase to $2.69 a share, buoyed by record production of 807 000 oz of gold at the... 

Bristow snaps into fast action wearing Barrick crown
Barrick CEO Mark Bristow in the field.

Palladium supply shortfall will worsen this year – Johnson Matthey

By: Reuters     13th February 2019 A deficit in the palladium market that has driven prices of the autocatalyst metal to record highs will widen dramatically this year, specialist materials company Johnson Matthey said in a report on Wednesday. The company, a leading autocatalyst manufacturer, said the shortfall in the roughly... 

Australia flooding to disrupt lead, zinc concentrate rail shipments

By: Reuters     13th February 2019 Floods in Australia's Queensland state are set to disrupt the rail delivery of zinc exports to the northern port of Townsville, with the line likely to be out of action for at least a month, analysts said on Wednesday. The 1 000 km (620 mile) rail line is used by miners including Glencore, MMG... 

Myanmar increases resource confidence at Bawdwin

By: Esmarie Iannucci     13th February 2019 ASX-listed Myanmar Metals has reported a 50% increase in the indicated resource estimate for its Bawdwin polymetallic mine, in Myanmar, which is now estimated to host the world’s largest primary lead resource. The indicated mineral resource has now been estimated at 37.2-million tonnes, at 4.3%... 

Federal govt flags funding for critical minerals

By: Esmarie Iannucci     13th February 2019 The resources sector has welcomed the federal government’s decision to prioritise Cooperative Research Center Project (CRC-P) grants for critical minerals such as lithium, cobalt and titanium. Industry, Science and Technology Minister Karen Andrews said on Wednesday that for the first time,... 

Prairie mulls international proceedings to resolve Poland dispute

By: Esmarie Iannucci     13th February 2019 The shares in junior coal developer Prairie Mining increased by nearly 24% on Wednesday, after the company confirmed potential international legal proceedings against the government of Poland. Prairie in December 2016, applied to the Ministry of Environment to amend the 50-year concession of its... 

Prairie mulls international proceedings to resolve Poland dispute

BHP approves $696m for Gulf of Mexico expansion

By: Esmarie Iannucci     13th February 2019 Mining major BHP on Wednesday approved $696-million in funding to develop the Atlantis Phase 3 project, in the Gulf of Mexico, after project partner BP in January approved a $1.3-billion expansion of the project. The Atlantis Phase 3 development will include the construction of a new subsea... 

BHP approves $696m for Gulf of Mexico expansion

Jemena wins licence for 40 TJ/d gas plant

By: Esmarie Iannucci     13th February 2019 The Queensland government has issued infrastructure provider Jemena a licence to start construction of a domestic-only gas processing plant. The plant is part of Jemena’s A$140-million Atlas gas pipeline project, which will create 150 jobs and connect Project Atlas to the Wallumbilla Gas Hub in... 

Alaska mine boosts Northern Star financials

By: Esmarie Iannucci     13th February 2019 Gold miner Northern Star has reported increased revenue and profit for the half-year ended December on the back of the acquisition of the Pogo gold mine, in Alaska. Revenue for the six months under review was reported at A$633.5-million, up 43% on the previous corresponding period, while... 

Beach more than doubles H1 revenues

By: Esmarie Iannucci     13th February 2019 Oil and gas producer Beach Energy has reported a 147% increase in sales revenue for the first half of 2019, and a 199% increase in underlying net profits after tax. The ASX-listed company on Wednesday announced that sales revenue for the six months to December had reached A$955-million as... 

Noncash items brings down Evolution H1 profit

By: Esmarie Iannucci     13th February 2019 Gold miner Evolution Mining is expecting a stronger financial result in the second half of the 2019 financial year, after reporting a 26% fall in after-tax net profit during the six months to December. Evolution on Wednesday reported a net profit of A$91.1-million, compared with the... 

Harmony exploring Target North, Kalgold 

By: Martin Creamer     12th February 2019 Harmony Gold is currently adjudicating a tender for the drilling of the Target North greenfield exploration project in the Free State and is engaged in near mine brownfield exploration at Kalgold in the North West. Harmony Gold CEO Peter Steenkamp on Tuesday described the Target North prospect as... 

Harmony exploring Target North, Kalgold
Harmony Gold outlines exploration plans to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Creamer Media’s Darlene Creamer

Harmony cuts energy consumption, ushering in solar, mulling biofuels  

By: Martin Creamer     12th February 2019 Gold mining and exploration company Harmony Gold is intensifying its efforts to cut electricity consumption to a minimum while also looking at introducing solar power and biofuel energy. CEO Peter Steenkamp said on Tuesday when the company issued its half-year results that Eskom’s problems could... 

Harmony cuts energy consumption, ushering in solar, mulling biofuels
Harmony Gold executives talk to Mining Weekly Online’s Martin Creamer. Video and Video Editing: Creamer Media’s Darlene Creamer

Vale disaster could see Brazil’s iron-ore competitive edge slip away

By: Mariaan Webb     12th February 2019 The January 25 Brumadinho dam disaster is expected to knock Brazil’s competitiveness in the global iron-ore market and will elicit a supply response from mines in China, as well as new projects that could be brought on line in the next few years. This is according to analysts at London-based... 

Vale disaster could see Brazil’s iron-ore competitive edge slip away
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