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Australasia News

South Africa falls to small percentage of AngloGold output 

By: Martin Creamer     Updated 57 minutes ago South African gold mines now represent around 13% of the AngloGold Ashanti portfolio, AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) said on Tuesday. Stronger year-on-year operating performance from the international operations helped to more than offset a lower output from South Africa. 

After 2017 consolidation, mining to pre-empt future metals demand – EY

By: Schalk Burger     Updated 3 hours ago With stronger balance sheets across the mining and metals sector, miners are increasingly returning to an investment-led strategy, which is driving a renewed focus on building portfolios that deliver sustainable shareholder returns, says multinational consultancy Ernst & Young (EY). The focus... 

After 2017 consolidation, mining to pre-empt future metals demand – EY

Greatland to start exploration programme at Australian project

By: Creamer Media Reporter      Updated 4 hours ago The Western Australian Mines, Industry Regulation and Safety department has approved London-listed Greatland Gold’s programme of work applications for drilling at the Ernst Giles project. The precious and base metals exploration and development company said on Tuesday that its exploration... 

Peel spin-out Saturn's IPO closes early, oversubscribed

By: Creamer Media Reporter      Updated 4 hours ago Perth-headquartered Peel Mining on Tuesday announced that the initial public offering (IPO) for its subsidiary Saturn Metals had closed early with firm commitments leaving the offer oversubscribed. The company said that it had received bids beyond the maximum A$7-million subscription amount.... 

New Toyota magnet cuts dependence on key rare earth metal for EV motors

By: Reuters     Updated 5 hours ago Toyota Motor Corp has found a way to reduce the amount of a key rare earth metal used in magnets for electric car motors by around 20%, which could tame the cost of producing electric cars and reduce the risk of a supply shortage of materials needed for their production. The Japanese automaker... 

Australian minerals sector calls for workplace relations, education reform to build future workforce

By: Creamer Media Reporter      Updated 5 hours ago Australia’s higher education system should be reformed and outdated workplace relations laws that discourage investment and stifle innovation and efficiency should be fixed to build the future Australian minerals workforce, said Minerals Council of Australia (MCA) interim executive director David... 

Northern Star boosts exploration spend, unveils 'game changer' discovery

By: Simone Liedtke     Updated 5 hours ago ASX-listed Northern Star Resources has increased its total exploration budget for the 2018 financial year by A$10-million to A$45-million, owing to a series of exploration results showing that the gold producer is set to establish a ten-year life at its 10-million-ounce endowed Jundee gold... 

Northern Star boosts exploration spend, unveils 'game changer' discovery
Northern Star executive chairperson Bill Beament

Sandfire delivers 66% increase in interim net profit

By: Simone Liedtke     Updated 6 hours ago Low-cost production and a rising copper price have driven Sandfire Resources' sales to a record and enabled the ASX-listed miner to increase its dividend and strengthen its balance sheet to fund growth opportunities. High grades and strong operating margins at DeGrussa, combined with Sandfire's... 

Record production at Saracen underpins A$46m interim net profit

By: Simone Liedtke     Updated 6 hours ago Gold miner Saracen Mineral Holdings on Tuesday reported a big jump in half year profit to A$46-million, on the back of record production in the six months ended December 31. This strong performance is said to be a direct result of the investment that Saracen has made in exploration and... 

BHP to open data rooms for US shale fields, deals may be announced before year-end

By: Mariaan Webb     Updated 7 hours ago Mining giant BHP will open the data rooms for its onshore US assets next month, the group said on Tuesday, as it confirmed that deals may be announced before the end of this year. Under pressure from activist investors, including Elliott Management, to get out of the shale business that it... 

BHP to open data rooms for US shale fields, deals may be announced before year-end
BHP has opened the data room for the Fayetteville field (pictured).

Australian Mines shares surge 60% on offtake deal

By: Reuters     Updated 7 hours ago Shares of battery and technology metals developer Australian Mines Ltd surged on Tuesday after the company signed an offtake agreement with South Korean battery maker SK Innovation for nickel and cobalt from its Sconi project. The commodity off-take agreement, which is for an initial period of... 

BHP CEO says to meet activist investor Elliott this week

By: Reuters     Updated 7 hours ago BHP Billiton CEO Andrew Mackenzie said he will be meeting with activist investor Elliott Advisors this week, among others, and will be discussing their call for BHP to scrap its dual listing in the UK. Mackenzie said he wants to hear all investors' views on the dual listed structure and is open... 

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell 

By: Martin Creamer     19th February 2018 The Mogalakwena platinum mine lived up to its reputation of being the most profitable platinum group metals (PGM) mine on the planet when it gushed cash and elevated a modernising, community supporting, environment protecting, growth studying and fuel-cell marketing Anglo American Platinum... 

Mogalakwena gushes cash as Amplats modernises, studies growth, advances fuel cell
Anglo American Platinum CEO Chris Griffith delivers 2017 results covered by Mining Weekly Online’s Martin Creamer. Photographs: Duane Daws. Video and Video Editing: Nicholas Boyd.

Emmerson and Evolution restructure Tennant Creek JV

By: Schalk Burger     19th February 2018 Joint venture (JV) partners Emmerson and Evolution Mining have agreed to restructure the Tennant Creek JV gold project, in the Northern Territory, to better align assets with the respective companies. Emmerson MD Rob Bills said on Monday that the company would retain a significant exploration... 

West Wits aims for higher gold production in South Africa

By: Simone Liedtke     19th February 2018 ASX-listed exploration and development company West Wits Mining is in the process of applying for two mining permits, which should enable the company to significantly increase gold production from its Witwatersrand Basin project (WBP) in the fourth-quarter of the calendar year. The company... 

Whitehaven achieves record first-half profit

By: Schalk Burger     19th February 2018 New South Wales-based miner Whitehaven Coal has increased its sales revenue by 39% year-on-year to $1.15-billion and its net profit after tax by 63% year-on-year to $257.2-million in the six months ended December 31, 2017. Operating earnings before interest, taxes, depreciation and amortisation... 

Black Mountain to sell Uganda mine as part of strategic restructuring

By: Simone Liedtke     19th February 2018 Vermiculite miner Black Mountain Resources on Monday updated shareholders on restructure initiatives that have been agreed to by the company and its major lender Richmond Partners Masters. These initiatives, which are subject to shareholder approvals, formal documentation and regulatory sign off,... 

Millennium goes underground at Nullagine, awards Bartons contract

By: Simone Liedtke     19th February 2018 Gold miner Millennium Minerals has awarded its first-ever underground mining contract at the Nullagine operation, in Western Australia, naming GBF Underground Mining Company as the contractor for the new Bartons underground mine development. The underground development will access high-grade,... 

Po Valley declares maiden reserve for Teodorico

By: Creamer Media Reporter      19th February 2018 Australia’s Po Valley Energy, which is in the process of selling its Italian operations to Aim-listed Saffron Energy, has declared a maiden 2P reserve of 36.5-billion cubic feet of gas at the Teodorico gasfield, offshore Italy. Teodorico has the largest gas in place of all of Po Valley’s... 

Mincor starts preproduction activities at WA gold project

By: Simone Liedtke     19th February 2018 The board of ASX-listed Mincor Resources has approved preproduction activities at its Widgiemooltha gold project (WGP), in Western Australia. The start of the preproduction activities will ensure that the company remains on track to be able to progress to full-scale mining operations at... 

Red 5 steps up Eastern Goldfields consolidation plans

By: Simone Liedtke     19th February 2018 ASX-listed gold mining junior Red 5 on Monday announced that it intended to make a hostile takeover offer for all the fully-paid ordinary shares in Western Australian company Bullseye Mining. Bullseye is an unlisted public company, whose gold portfolio includes the Laverton project, about 30 km... 

Red 5 steps up Eastern Goldfields consolidation plans

Australian Mines signs offtake deal with Korea's SK Innovation

By: Reuters     19th February 2018 Battery and technology metals developer Australian Mines said on Monday it signed a deal with Korea's SK Innovation to supply cobalt sulphate and nickel sulphate from its flagship Sconi project. The commodity off-take agreement, which is for an initial period of seven years, is for SK... 

Cyclone Kelvin lashes West Australia, no damage reported to mines, gas projects

By: Reuters     19th February 2018 Tropical Cyclone Kelvin hit the resource-rich north coast of Western Australia on Sunday, lashing it with strong winds and causing floods that could cut the main highway for up to two weeks. The storm crossed the coast 165 km south-southwest of Broome early on Sunday morning with destructive... 

Mining sector unloved as investors find it hard to trust

By: Reuters     17th February 2018 Investors are shunning the mining sector, data from Thomson Reuters shows, as they struggle to forget the string of multi-billion dollar takeovers and expensive development projects that left them empty handed. A decade-long commodity boom coincided with years of economic growth when China took... 

South32 appoints chief technology officer

By: Simone Liedtke     16th February 2018 Vanessa Torres, who has over 25 years of experience in the mining and metals sector, has been appointed chief technology officer at diversified miner South32. "We see technology as a key enabler in driving safety and production improvements at our operations, and Vanessa's knowledge and... 

Alrosa reviews submissions for Mir reopening

By: Simone Liedtke     16th February 2018 Diamond miner Alrosa has opened a contest with a 1.5-million-rouble reward for the best solution to resume underground mining at its Mir deposit, where operations were suspended in August last year owing to a flood that killed eight people. The company said this week that it had received and... 

Latin Resources secures lithium projects in San Luis, Argentina

By: Simone Liedtke     16th February 2018 ASX-listed mineral exploration company Latin Resources has secured 100% ownership of Condor lithium concessions in San Luis, Argentina, through the signing of a terms sheet with Kontrarian Resources Fund No 1. The concessions are in the vicinity of historic lithium mines. Smaller scale pegmatite... 

Test results support Cadoux project’s HPA flowsheet

By: Schalk Burger     16th February 2018 Metallurgical tests conducted as part of the prefeasibility study (PFS) at ASX-listed FYI Resources’ Cadoux Kaolin project, in Western Australia, have validated the high-purity alumina (HPA) flowsheet for the project. The outstanding metallurgical test results returned excellent leach extractions... 

Galantas planning appeal hearing concluded

By: Simone Liedtke     16th February 2018 An appeal brought by a third party against Aim- and TSX-V-listed gold producer and explorer Galantas Gold's planning consent for the Omagh gold mine development has completed the hearing stage. The Court of Appeal at the Royal Courts of Justice in Belfast, Northern Ireland, heard the appeal... 

Fortescue's Aboriginal programme hits A$2bn mark

By: Simone Liedtke     16th February 2018 Iron-ore major Fortescue Minerals' 'billion opportunities programme' has reached the A$2-billion-mark, with 250 contracts and sub-contracts having been awarded to 110 Aboriginal businesses and joint ventures in the seven years since its inception. CEO Nev Power said on Friday that the programme... 

Birimian settles tax issues through full disclosure

By: Schalk Burger     16th February 2018 ASX-listed lithium and gold exploration company Birimian has settled with the Australian Tax Office (ATO), which waived all penalties in relation to tax obligations after the Mali-focused company made voluntary disclosures of all its financial statements since August. The penalties were in... 

Newcrest expects output to grow as shakes off disruptions

By: Bloomberg     16th February 2018 Australia's top gold miner, Newcrest Mining, expects output to grow in the coming months as its flagship site gradually ramps up after operations there were hit by an earthquake last year, its chief executive said on Friday. That comes a day after the company reported a 58% slide in underlying... 

Sweden hunts for cobalt as electrical vehicle race boosts demand

By: Bloomberg     16th February 2018 Sweden will step up efforts to find precious minerals such as cobalt and lithium, key battery components that are increasingly in demand among makers of electric vehicles. The government will invest 10-million kronor ($1.26-million) over the next two years to map the existence of minerals... 

Sweden hunts for cobalt as electrical vehicle race boosts demand

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 Gobal equity markets have been extremely volatile in recent weeks, extending a frantic sell-off of US stocks, which culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Rio Tinto considering power options for Oyu Tolgoi

By: Mariaan Webb     16th February 2018 Global miner Rio Tinto is considering its options for domestic power generation for the Oyu Tolgoi mine, including building an on-site power station, the company said on Friday, as it confirmed that the government of Mongolia had terminated a framework agreement for an energy plan for the South... 

Rio Tinto considering power options for Oyu Tolgoi
Rio Tinto has to find a domestic power source for Oyu Tolgoi within four years.

Sound policy, low risk key to attracting mining investment

By: Henry Lazenby     16th February 2018 The global equity markets have been extremely volatile in recent weeks, extending a frantic selloff in US stocks that culminated in the steepest plunge for the Dow Jones Industrial Average in six-and-a-half years. While commodities were not spared from the rout, American multinational investment... 

Sound policy, low risk key to attracting mining investment

Contract duration key to hybrid-power-for-mines investment case

By: Terence Creamer     15th February 2018 Alignment between a mine’s life and the tenor of a power purchase agreement (PPA) has been held up as the main consideration for those mining operations considering investments into hybrid power solutions, which combine renewable energy and battery storage with gas or diesel generators. Speaking... 

Contract duration key to hybrid-power-for-mines investment case
The hybrid installation at the DeGrussa copper-gold mine in Western Australia

South32 announces special dividend after stronger-than-expected H1

By: Simone Liedtke     15th February 2018 Diversified miner South32 will return more money to shareholders, after reporting a stronger-than-expected $543-million underlying profit for the first half of the 2018 financial year. This meant that dividends to shareholders would be doubled. 

South32 announces special dividend after stronger-than-expected H1
Photo by Duane Daws
South32 CEO Graham Kerr
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