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Australasia News

Clash over Trump tariffs heats up with barrage of WTO litigation

By: Reuters     19th October 2018 Disputes over US tariffs and retaliatory moves by other states have sparked 12 requests for adjudication at the World Trade Organization, signalling an escalation in global trade tensions. The agenda for an Oct. 29 meeting of the WTO's dispute settlement body on Friday confirmed the legal moves,... 

Gold merger will create industry 'superpower'

By: Rebecca Campbell     19th October 2018 The merger between Barrick Gold (domiciled in Canada and dual-listed on the New York and Toronto stock exchanges) and Randgold Resources (domiciled in Jersey and dual-listed on the London and Nasdaq stock exchanges), announced last month and still awaiting shareholder and regulatory approvals,... 

Sheffield warns of A$115m Thunderbird cost blowout

By: Esmarie Iannucci     19th October 2018 Mineral sands developer Sheffield Resources has warned of a cost blow-out at its Thunderbird project, in Western Australia, of some A$115-million. The company on Friday said that the Stage 1 capital cost for the Thunderbird project was expected to be some A$463-million, compared with the... 

Sheffield warns of A$115m Thunderbird cost blowout

Arc exits Indonesia JV to focus on Ontario project

By: Esmarie Iannucci     19th October 2018 ASX-listed junior Arc Exploration has inked a binding sales agreement to divest of its joint venture (JV) interest in the Trenggalek copper/gold project, in East Java, Indonesia. The company has sold its interest to JV partner PT Sumber Mineral Nusantara for A$100 000, saying on Friday that the... 

Paladin revenue drops sharply as Namibia mine shuts down

By: Esmarie Iannucci     19th October 2018 ASX- and TSX-listed Paladin Energy has reported $6.6-million in revenue for the quarter ended December, from the sale of 267 423 lb of uranium oxide (U3O8). The quarterly sales results compared with the $23.6-million in revenue generated from the sale of 1.14-million lb U3O8 in the previous... 

Wolf Minerals UK to be wound up

By: Creamer Media Reporter      19th October 2018 Embattled tungsten miner Wolf Minerals UK will be wound up under the UK Insolvency Act, while all directors of the company have resigned, with immediate effect. Wolf went into voluntary administration last week after failing to secure funding to meet its short-term working capital requirements... 

Alkane reconsiders Peak Hill

By: Esmarie Iannucci     18th October 2018 ASX-listed Alkane Resources is considering the development of an underground operation at its Peak Hill gold mine, some 15 km from its Tomingley gold project, in New South Wales. The junior company said on Thursday said that an inferred mineral resource of 1.02-million tonnes, grading 3.29 g/t... 

Pacton mulling milling options

By: Esmarie Iannucci     18th October 2018 ASX-listed junior Artemis Resources has entered into a strategic processing alliance with TSX-V listed Pacton Gold, leveraging opportunities at Artemis’ Radio Hill operations, in Western Australia. Pacton told shareholders on Thursday that the Radio Hill processing facility provided the... 

Sales and production soar at Woodside

By: Esmarie Iannucci     18th October 2018 Australia’s Woodside Petroleum has seen an increase in both production and sales revenues for the third quarter, as its Wheatstone liquefied natural gas (LNG) project continued to contribute strongly to operations. “Production at Wheatstone LNG continued ahead of plan, underpinning a 13.8% rise... 

Falling grades bring down Mt Cattlin production - Galaxy

By: Esmarie Iannucci     18th October 2018 Lithium miner Galaxy Resources has seen a 35% fall in production during the September quarter, as grades at the Mt Cattlin operation, in Western Australia, declined. Lithium concentrate production during the third quarter reached 31 156 t, down from the 47 901 t produced in the previous quarter. 

Volt granted graphite mining licence in Tanzania

By: Esmarie Iannucci     18th October 2018 ASX-listed Volt Resources has been granted two mining licences covering the Stage 1 and Stage 2 developments of its Bunyu graphite project, in Tanzania. The Stage 1 development is based on a mining and processing plant throughput rate of 40 000 t/y of ore to produce on average 23 700 t/y of... 

Santos revenue jumps on higher oil price, volume growth

By: Esmarie Iannucci     18th October 2018 Oil and gas major Santos has reported a 6% increase in production during the third quarter ended September, while sales revenue increased by 10%. “Santos’ third-quarter results serve to highlight the benefits of a cash generative core asset portfolio and our low-cost, disciplined operating... 

Kwale expansion delivering results for Base

By: Esmarie Iannucci     18th October 2018 Minerals sands miner Base Resources has reported a 35% increase in mined tonnes during the three months to September, following the successful implementation of the Kwale Phase 2 mine optimisation project, at its operation in Kenya. The Kwale project produced a record 25 125 t of rutile and 9 683... 

Perseus on track for full-year production

By: Esmarie Iannucci     18th October 2018 Dual listed gold miner Perseus Mining is on track to achieve its full year production targets after another strong quarter in the three months to September. The ASX- and TSX-listed company produced 72 477 oz of gold in the quarter under review, compared with the 83 881 oz produced in the June... 

Vital pulls the plug on Bouli

By: Esmarie Iannucci     18th October 2018 ASX-listed Vital Metals on Thursday announced its withdrawal from an earn-in agreement into the Bouli gold project, in Niger, citing concerns over the ‘geopolitical situation’ in the region. Vital in July this year announced that it would proceed with A$5-million earn-in over a two-year period,... 

South32 reports strong manganese and coking coal performance 

By: Esmarie Iannucci     18th October 2018 Diversified miner South32 on Thursday reported a record quarter at its Australian manganese operations, while metallurgical coal production was up 39% on the previous quarter. “Annual production guidance is maintained for all our operations, with Australia manganese achieving another quarterly... 

South32 reports strong manganese and coking coal performance
South32 CEO Graham Kerr

Xanadu achieves dual-listed status

By: Creamer Media Reporter      18th October 2018 Mongolia-focused Xanadu Mines will list on the TSX on Thursday, as part of the company’s efforts to develop a broader awareness of its porphyry copper/gold discovery in Mongolia’s south Gobi. 

Indian potash import prices surge 21%

By: Ajoy K Das     17th October 2018 Indian potash import prices have surged 21% to about $290/t for deliveries contracted between September 2018 and July 2019. Importers have warned that higher prices, coupled with a sharp depreciation of the Indian rupee below the Rs73 a dollar mark, would sharply increase the landed price of... 

Gulf cornerstone investor pulls out over mining moratorium risk

By: Esmarie Iannucci     17th October 2018 Manganese ore and alloy developer Gulf Manganese has lost a cornerstone investor in the midst of uncertainty around a moratorium on all mining activities in East Nusa Tenggara, Indonesia. Gulf Manganese in August this year announced a A$10.8-million investment from Indonesian businessman Bapak... 

Berkeley plunges on Spain permit uncertainty

By: Mariaan Webb     17th October 2018 The stock of triple listed Berkeley Energia plunged on Wednesday, after news reports that the Spanish government has decided not to issue the permits needed for its Salamanca uranium mine. Berkley, which on Monday alerted investors to a delay in receiving an urbanisation licence, traded nearly... 

Berkeley plunges on Spain permit uncertainty

Alkane takes a stake in Calidus

By: Esmarie Iannucci     17th October 2018 The board of ASX-listed Alkane Resources has approved a A$3.6-million investment into fellow-listed Calidus Resources. Alkane will subscribe for 125-million shares in Calidus, priced at 2.95c a share, giving the diversified junior a near 8.8% interest in Calidus at the close of the transaction. 

Openpit mining starts at Wiluna

By: Esmarie Iannucci     17th October 2018 Openpit mining has started at the Wiluna gold mine, in Western Australia. ASX-listed Blackham Resources said on Wednesday that the restart of mining at Wiluna was expected to increase plant feed grade, reduce haulage costs and significantly reduce mine sequencing risks due to more mining areas. 

Vector secures $35m in additional debt

By: Esmarie Iannucci     17th October 2018 ASX-listed junior Vector Resources has secured a $35-million debt funding for its Adidi-Kanga gold project, in the Democratic Republic of Congo. Dubai-based FT General Trading will provide the funding, which will be used for payments relating to the acquisition of the Adidi-Kanga project, the... 

Brazilian assets start to deliver for Oz

By: Esmarie Iannucci     17th October 2018 Copper/gold producer Oz Minerals has reported an increase on copper production for the three months to September, following the addition o f the Antas copper project, in Brazil. Copper production in the September quarter was up to 31 919 t, up from the 27 131 t produced in the previous quarter,... 

Troy reports wall failure at Karouni’s Smart 3 pit

By: Esmarie Iannucci     17th October 2018 Gold miner Troy Resources has suspended operations in the Smarts 3 pit, at its Karouni operation, in Guyana, following a geotechnical event which resulted in a small failure of the northern wall of the pit. Troy said that while no injuries or damages were reported as a result of the wall... 

BHP iron-ore output up, FY copper guidance trimmed

By: Esmarie Iannucci     17th October 2018 Diversified giant BHP has reported increases in copper and iron-ore production during the three months to September, while petroleum and coal production fell. Iron-ore production for the three months to September was up by 10% on the previous corresponding period, to 61-million tonnes of ore,... 

BHP iron-ore output up, FY copper guidance trimmed
Photo by Bloomberg
BHP CEO Andrew Mackenzie

Lynas raises storage red flag

By: Esmarie Iannucci     17th October 2018 ASX-listed Lynas could well be faced with another dilemma if the Malaysian government is lax to respond to a request to extend the company’s permission to store NUF at the Lynas Advanced Materials Plant (LAMP). NUF is one of the two solid residues produced at LAMP. NUF is not a radioactive... 

Oyu Tolgoi underground production delay announced

By: Mariaan Webb     16th October 2018 The $5.3-billion underground project at the Oyu Tolgoi copper/gold mine, in Mongolia, remains on schedule to be completed by 2022, but operator Rio Tinto has flagged a nine-month delay in achieving sustainable production. Rio Tinto-owned Turquoise Hill, which holds the giant mine in a 66:34... 

Strandline to decide Coburn fate in 2019

By: Esmarie Iannucci     16th October 2018 Mineral sands developer Strandline Resources is expecting to take a development decision on its Coburn project, in Western Australian, during the first half of 2019, with the project potentially starting production by the second half of 2020. Strandline is in the midst of conducting a definitive... 

Northern Star sinks funding into Pogo

By: Esmarie Iannucci     16th October 2018 ASX-listed gold miner Northern Star will spend between A$15-million and A$20-million on exploration and drilling activities at its newly acquired Pogo project, in Alaska. The company on Tuesday reported a Joint Ore Reserves Committee (Jorc) compliant resource of 8.8-million tonnes, grading 14.7... 

Whitehaven production dips

By: Esmarie Iannucci     16th October 2018 Coal miner Whitehaven Coal has reported a 37% drop in production during the September quarter, compared with the previous corresponding period, reflecting a longwall change-out at the Narrabri operation. Managed run-of-mine (ROM) production reached 3.61-million tonnes in the three months to... 

Saracen strikes record quarter

By: Esmarie Iannucci     16th October 2018 Gold miner Saracen Mineral Holdings has reported record production in the three months to September, on the back of record group mill throughput and higher ore grades at all of its operations. Gold production in the quarter reached 88 940 oz, with the Carosue Dam operation delivering 51 753 oz... 

Lynas still waiting on clarity

By: Esmarie Iannucci     16th October 2018 Rare earths miner Lynas was still seeking clarity from the Malaysian government over the details of a reported review committee established to review the company’s operations in that country. Lynas on Tuesday said that local media outlets in Malaysia had announced the members of the review... 

BHP doubles stake in Ecuador copper project

By: Esmarie Iannucci     16th October 2018 Mining major BHP has subscribed for a further £45-million worth of shares in copper developer SolGold, which is the majority owner and operator of the Cascabel porphyry copper-gold project, in Ecuador. BHP will be issued an additional 100-million shares, at a price of 45p each, taking its... 

BHP doubles stake in Ecuador copper project

Rio Tinto copper output jumps; iron-ore, aluminium production slip

By: Esmarie Iannucci     16th October 2018 Diversified major Rio Tinto has reported lower production across nearly all its commodities, besides copper, in the three months to September. “We have delivered consistent operational performance in the third quarter, highlighted by strong production from the group’s copper assets,” Rio CEO... 

Rio Tinto copper output jumps; iron-ore, aluminium production slip

Global steel body hikes demand forecasts, but says risks remain

By: Reuters     16th October 2018 The World Steel Association on Tuesday doubled its 2018 and 2019 forecasts for growth in global demand for the material used in everything from cars to construction, but said that trade tensions were clouding the outlook for the sector. The caution over trade from a body that represents 85% of... 

Global steel body hikes demand forecasts, but says risks remain

Orion expects updated Prieska resource estimate by mid-December, BFS by Q2 2019

By: Marleny Arnoldi     15th October 2018 ASX- and JSE-listed Orion Minerals will publish an updated resource estimate for its Prieska zinc/copper project, in the Areachap Belt in South Africa’s Northern Cape province, in mid-December, which will underpin a bankable feasibility study (BFS) that is set for completion in the second quarter... 

Berkeley to reduce costs citing uncertainty over key licence

By: Mariaan Webb     15th October 2018 Despite reporting “strong and growing support” for the Salamanca uranium project in Spain, Australian mining firm Berkeley Energia on Monday reported that it was unlikely to imminently receive a key permit that would allow for construction to start. As a result, the triple-listed uranium project... 

Berkeley to reduce costs citing uncertainty over key licence
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