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Australasia News

Australia Federal Court narrows BHP's suits over Samarco disaster

By: Reuters     Updated 6 hours ago The Federal Court of Australia on Tuesday ordered that the number of class-action lawsuits against BHP Group over a Brazilian mine collapse be narrowed to one from three. BHP is facing legal challenges over the 2015 collapse of the Fundao tailings dam, which stored mining waste at a mined owned... 

Kidman in talks to sell lithium to LG Chem

By: Mariaan Webb     Updated 7 hours ago Lithium developer Kidman Mining has potentially found another buyer for lithium hydroxide production from the Mt Holland lithium project, in Western Australia. The ASX-listed company revealed on Wednesday that it had signed a memorandum of understanding (MoU) with LG Chem in terms of which it... 

The world's most controversial coal mine is set to break ground

By: Bloomberg     18th December 2018 The world’s most contentious coal project is edging closer toward development, potentially unlocking one of the biggest untapped resources even as a debate rages around the fuel’s future. Indian billionaire Gautam Adani’s Carmichael is located in Australia’s huge Galilee Basin, which covers... 

The world's most controversial coal mine is set to break ground

Sweetened Ramelius offer wins over Explaurum

By: Mariaan Webb     18th December 2018 Gold Ramelius Resources’ sweetened takeover bid has won over fellow ASX-listed Explaurum, with the takeover target on Tuesday recommending that shareholders accept the offer. Ramelius last week improved its offer by adding 2c a share in cash in addition to one of its own shares for every four... 

Santos turns to solar for Cooper basin pumping

By: Creamer Media Reporter      18th December 2018 Oil and gas major Santos will reduce its production emissions with an Australian-first roll out of 100% renewable energy to power its oil well operations in the remote Cooper basin in South Australia and Queensland, following a grant from the Australian Renewable Energy Agency (Arena). The... 

Mitsubishi exits thermal coal sector, sells stakes in Australia mines

By: Reuters     18th December 2018 Japan's Mitsubishi said on Tuesday it will sell its stakes in two Australian thermal coal mines for A$750-million, a move that means its exit from upstream thermal coal amid growing pressure from environmental activists. The stake sales comes as a growing number of companies and pension funds... 

OceanaGold receives preliminary approval for Waihi life extension

By: Mariaan Webb     18th December 2018 Mining at the Waihi operation in New Zealand will continue for at least another decade, adding to a long history of gold mining that dates back to the 1800s, Melbourne-headquartered OceanaGold has confirmed, announcing that it has received preliminary approval for its Martha project. OceanaGold... 

Fortescue expects to produce up to 10Mt of new mid-grade iron-ore in 2019

By: Reuters     18th December 2018 Australia's Fortescue Metals Group on Monday announced the first shipment of its new mid-grade iron ore and said it expected to produce 5-million tonnes to 10- million tonnes of the commodity next year. The shipment of 60.1% West Pilbara Fines iron ore went to customers in China, but Fortescue... 

Newcrest raises stake in Ecuador copper/gold developer SolGold

By: Reuters     18th December 2018 Australian gold miner Newcrest Mining Ltd has raised its holdings in Ecuador gold and copper developer SolGold, nudging further ahead of the company's second biggest investor BHP Group . Newcrest International paid 11.148-million pounds for 27.87-million shares of SolGold at 0.40 pound a share,... 

Newcrest raises stake in Ecuador copper/gold developer SolGold
SolGold's CEO Nick Mather

Metal bulls cheer end to 'horrid' year; Goldman touts copper

By: Bloomberg     18th December 2018 As China goes, so goes industrial metals. That’s the message from anxious investors rolling out of a rough 2018, when Trump trade tensions, Federal Reserve rate hikes, a strong dollar and an economic slowdown in China all combined to push the London Metal Exchange Index to its first annual loss... 

Mineral Resources and Albemarle agree $1.15bn lithium deal

By: Reuters     14th December 2018 Albemarle said on Friday it had finalized an agreement to form a lithium joint venture with Australia's Mineral Resource for $1.15-billion. The deal, announced last month, will give US-based Albemarle a 50% stake in Mineral Resource's Wodgina lithium project in Western Australia which exports... 

Australian rail workers postpone coal haulage strikes as cyclone looms

By: Reuters     14th December 2018 Coal railway workers at Australian hauler Aurizon Holdings have postponed some planned strikes in Queensland, a union official said, as a cyclone is forecast to bring poor weather near some of the affected railways. Aurizon's four major railways in the Bowen Basin of Queensland, the world's... 

MOD granted renewals on all its Botswana prospecting licences

By: Marleny Arnoldi     14th December 2018 ASX- and Aim-listed MOD Resources reported on Friday that all its prospecting licences across the joint venture (JV) landholdings in the Botswana copperbelt have been granted two-year extensions. Additionally, a new licence has been issued for three years. 

Global uranium supply sufficient to meet future demand – NEA 

By: Marleny Arnoldi     14th December 2018 Intergovernmental agency, the Nuclear Energy Association (NEA), says the world’s supply of uranium is more than adequate to meet projected requirements for the foreseeable future, regardless of the role that nuclear energy will play in meeting future electricity demand and global climate... 

Global uranium supply sufficient to meet future demand – NEA
Cameco's Inkai mine in Kazakhstan

Western Australia’s domestic gas market seen tightening in 2021

By: Esmarie Iannucci     14th December 2018 New data by the Australian Energy Market Operator (AEMO) has shown that new gas resources might be required to ensure that Western Australia had sufficient supply to serve its domestic gas market beyond 2020. “Our findings highlight a tightening of the domestic gas market in 2021 as supply... 

Northern Territory opens A$800m gas pipeline

By: Esmarie Iannucci     14th December 2018 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the opening of the Northern gas pipeline between Tennant Creek, in the Northern Territory, and Mt Isa, in Queensland. Infrastructure developer Jemena has completed the construction of the A$800-million, 622 km... 

Northern Territory opens A$800m gas pipeline

Australian oil and gas producers' tax revealed

By: Esmarie Iannucci     14th December 2018 Australian oil and gas producers had reported their worst operating result in the 2016/17 financial year. In a new survey by the Australian Petroleum Production and Exploration Association (Appea), Australian oil and gas producers reported a combined net operating loss of A$7.6-billion for... 

Resources keep Queensland in the black

By: Esmarie Iannucci     14th December 2018 In its mid-year fiscal and economic review (MYFER), the Queensland government has increased its projected net operating surplus in 2018/19 to A$524-million, up by A$376-million in the June Budget. Deputy Premier and Treasurer Jackie Trad said this week that the state Budget surpluses totaled... 

West African completes A$43m share placement

By: Esmarie Iannucci     14th December 2018 ASX-listed West African Resources has completed a A$43.2-million share placement, issuing some 172.7-million shares, at a price of 25c each. The share placement formed part of the company’s funding package to support the start of gold production at its Sanbrado project, in Burkina Faso. 

Explaurum updates Tampia economics, holds off on Ramelius decision

By: Esmarie Iannucci     14th December 2018 Takeover target Explaurum has released the results of an updated feasibility study for its Tampia gold project, which has increased the project’s estimated net present value from A$125-million to A$156-million, while the internal rate of return has increased from 47% to 70%. Explaurum said on... 

Resolute starts production from Syama underground

By: Esmarie Iannucci     14th December 2018 Gold miner Resolute Mining has started ore production from the new Syama underground mine, in Mali. MD and CEO John Welborne said on Friday that the successful development of the Syama underground mine represented a pivotal moment in the history of the company. 

Bass raises cash for Graphmada

By: Esmarie Iannucci     14th December 2018 ASX-listed Bass Metals will raise A$3.3-million through a share placement to fund resource drilling and part of the Stage 2 expansion at its Graphmada large flake graphite project, in Madagascar. Shares for the placement will be issued at a price of 1.25c each, with subscribers to the placement... 

Synthetic diamonds hogged media attention in 2018

By: Nadine James     14th December 2018 Media coverage of the diamond industry in 2018 has been dominated by the progression of laboratory-created diamond production, distribution and pricing dynamics, according to independent diamond expert Paul Zimnisky. He commented that several new players have entered the synthetic diamond space,... 

Synthetic diamonds hogged media attention in 2018
Photo by Bloomberg
TALK OF THE TOWN Laboratory-grown diamonds have held media and industry attention throughout 2018

Orion Minerals to restart Prieska production in 2021 

By: Simone Liedtke     13th December 2018 Polymetallic minerals exploration and development company Orion Minerals’ flagship Prieska zinc/copper mine, in the Northern Cape, is expected to start production by 2021. This is notwithstanding any potential challenges and delays, Orion COO Walter Shamu said during a media briefing on Thursday. 

Orion Minerals to restart Prieska production in 2021
Orion Minerals COO Walter Shamu speaks to Mining Weekly Online about the miner's flagship Prieska project, located in the Northern Cape. Video & Editing: Nicolas Boyd

Gold supply to increase 2.2% for 2018 – Refinitiv

By: Marleny Arnoldi     13th December 2018 Total gold supply is set to increase by 2.2% year-on-year this year, led by mine production, says the GFMS team at Refinitiv. Refinitiv predicts this year will finish as another year of net de-hedging, albeit at a forecast 29 t, which will be 29% lower than in 2017.  

Japanese trading giant Mitsubishi throws weight behind platinum 

By: Martin Creamer     13th December 2018 The Japanese trading giant Mitsubishi has thrown its weight behind technologies that harness the high-performance characteristics of platinum group metals (PGMs) by joining Anglo American Platinum (Amplats) and South Africa’s Public Investment Corporation (PIC) as an investor in AP Ventures,... 

Japanese trading giant Mitsubishi throws weight behind platinum
Photo by Creamer Media
AP Ventures managing partner Andrew Hinkly

BHP and ExxonMobil push button on A$400m development

By: Esmarie Iannucci     13th December 2018 Mining major BHP and its joint venture partner Exxonmobil have pulled the trigger on the West Barracouta gas project, in the Bass Strait, offshore Victoria. BHP said on Thursday that its share of investment would amount to some $200-million, which was in line with the company’s commitment to... 

Australian rail workers plan strikes that could hit key coal haulage tracks

By: Reuters     13th December 2018 Coal railway workers at Australian hauler Aurizon Holdings are planning strikes after a breakdown in pay negotiations, their trade union said, a move that could delay shipments from the world's largest coking coal export region. Miners including BHP Billiton, Glencore, Anglo American and... 

Ramelius sweetens Explauraum deal

By: Esmarie Iannucci     13th December 2018 Gold miner Ramelius Resources has increased its offer for fellow-listed Explaurum, by 2c a share in cash. Ramelius is now offering Explaurum shareholders one of its own shares for every four Explaurum shares held, as well as 2c a share in cash for every Explaurum share held. 

Western Australia lowers rental rates for potash projects

By: Esmarie Iannucci     13th December 2018 The Western Australian has announced a suite of measures to assist in developing potash projects in the region. Mines and Petroleum Minister Bill Johnston on Thursday said that due to the unique nature of potash projects, the state government would introduce a new rental rate for potash projects... 

Western Australia lowers rental rates for potash projects

Platina DFS proves positive

By: Esmarie Iannucci     13th December 2018 A definitive feasibility study (DFS) into the Platina scandium project, in New South Wales, has delivered attractive financial returns to project owner Platina Resources. The DFS estimated that the project would have a post-tax net present value of $166-million, and after tax internal rate of... 

Capricorn secures funding for Karlawinda development

By: Esmarie Iannucci     13th December 2018 Metals developer Capricorn Metals has secured a A$107-million funding package to develop its Karlawinda gold project, in Western Australia. The project finance facility, secured from Macquarie Bank, include a senior project finance facility of A$81-million, a bank guarantee facility of... 

Koolan Island on track for March sales

By: Esmarie Iannucci     13th December 2018 First iron-ore sales from the Koolan Island restart project, in the Kimberley region of Western Australia, is expected by the end of March next year, ASX-listed Mount Gibson Iron reported. The company has told shareholders that site ramp-up activities were progressing well, with dewatering... 

Matsa acquires more ground around Red October

By: Esmarie Iannucci     13th December 2018 ASX-listed Matsa Resources has struck a deal with fellow listed GME Resources to acquire the Devon gold mine, in Western Australia, for A$100 000. Under the terms of the agreement, Matsa will pay GME A$50 000 in cash, with the balance of the payment to be made in either cash or Matsa shares. 

Flinders to de-list from ASX

By: Esmarie Iannucci     13th December 2018 Emerging iron-ore junior Flinders Mines has applied for a de-listing from the ASX, saying it would be in the best interest of shareholders. The decision to de-list from the ASX followed a strategic review of the available options to maximise shareholder value, on the back of a number of... 

Pure Alumina extends gold sale process

By: Esmarie Iannucci     13th December 2018 Junior Pure Alumina has extended the sales process for its Hill End gold assets, which were put up for sale earlier this year, to allow bidders to secure funding. The company in June this year announced its decision to test the market for its gold assets, choosing to focus its attention on its... 

Musgrave raises cash for Cue exploration

By: Esmarie Iannucci     13th December 2018 ASX-listed Musgrave Minerals will raise A$5.5-million through a share placement to institutional, professional and sophisticated investors to advance drilling at its Lake Austin project, as well as other targets at the Cue project, in Western Australia. Some 59.78-million shares will be placed,... 

TNG mandates German bank for Mt Peake funding

By: Esmarie Iannucci     13th December 2018 ASX-listed TNG has mandated Germany’s KfW IPEX Bank to arrange a $600-million finance package for the Mt Peake vanadium/titanium/iron project, in the Northern Territory. Under the mandate, KfW IPEX-Bank will structure, coordinate, lead, arrange and manage a syndicate to raise the targeted amount... 

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