R/€ = 15.86 Change: 0.09
R/$ = 13.71 Change: 0.04
Au 1274.31 $/oz Change: -7.86
Pt 862.50 $/oz Change: -17.54

Australasia News

Deflector production set to rise

By: Esmarie Swanepoel     Updated 14 minutes ago Gold miner Doray Minerals was expecting record gold production from its Deflector mine, in Western Australia, during the 2019 financial year. The ASX-listed company on Wednesday told shareholders that Doray is expected to deliver between 80 000 oz and 85 000 oz during the 2019 financial year,... 

Qld releases more exploration acreage

By: Esmarie Swanepoel     Updated 17 minutes ago The Queensland government has set aside more than 44 000 km2 of land for resource exploration, Natural Resources, Mines and Energy Minister Anthony Lynham said. Speaking at a conference in Brisbane, Lynham said it was the largest amount of land released under the state’s exploration program and... 

Queensland miners promise more jobs

By: Esmarie Swanepoel     Updated 23 minutes ago New research by the Queensland Resources Council (QRC) has revealed that miners in the state were planning to increase employment on the back of a sustained lift in global commodity prices and record production. In its latest State of the Sector report, the QRC revealed that 52% of resources... 

NT govt looking for remediation partners

By: Esmarie Swanepoel     Updated 25 minutes ago The Northern Territory government has released two tenders for remediation works at abandoned openpit mines as part of its plans to develop Tennant Creek as a mining services hub. “Tennant Creek has a long mining history and many old mines pre-date the requirement for operators to leave them in... 

Capricorn improve Karlawinda economics

By: Esmarie Swanepoel     Updated 26 minutes ago An optimisation study of the Karlawinda gold project, in Western Australia, has delivered a 69% increase in the forecast pre-tax net present value, while also reducing up-front capital costs by 10%. ASX-listed Capricorn Metals on Wednesday reported that the pre-tax net present value for the... 

Hill End puts for sales sign on gold assets

By: Esmarie Swanepoel     Updated 36 minutes ago ASX-listed Hill End Gold has announced plans to divest its gold assets, following a strategic review. Hill End in May appointed PCF Capital Group to conduct a review of the company’s gold assets, in order to unlock value. 

Matsa signs gold deal with AngloGold Ashanti

By: Esmarie Swanepoel     Updated 39 minutes ago Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia. The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold... 

Xanadu raises A$10m for exploration

By: Esmarie Swanepoel     Updated 43 minutes ago Copper and gold explorer Xanadu Mines has raised A$10-million through an oversubscribed placement to accelerate resource drilling at its Kharmagtai copper/gold project, in Mongolia. The placement comprised some 58.9-million shares, priced at 17c each, to institutional and sophisticated investors. 

MinRes declines to up Atlas offer

By: Esmarie Swanepoel     Updated 44 minutes ago ASX-listed Mineral Resources (MinRes) on Wednesday announced that it will not make a counter offer for iron-ore miner Atlas Iron. MinRes had been given three business days to come up with a new offer for Atlas after Hancock Prospecting launched a 4.2c a share cash offer for Atlas, in which it... 

NSW miners deliver record royalties

By: Esmarie Swanepoel     Updated 48 minutes ago The resource sector delivered a record A$1.8-billion in royalties to the New South Wales budget in the last year, and was expected to contribute a further A$7.4-billion over the next four years to 2021-22. The New South Wales government this week predicted a surplus of A$3.9-billion for 2017-18,... 

NSW miners deliver record royalties

BHP to sell Chilean copper mine to private equity fund EMR Capital - sources

By: Reuters     19th June 2018 BHP has agreed to sell Cerro Colorado copper mine to private equity fund EMR Capital, two sources close to the deal said on Tuesday. The world's biggest listed miner had hired Citi early in 2017 to sell the asset, which was then valued at around $800-million, although one of the sources said the... 

OceanaGold ups 2018 gold guidance

By: Mariaan Webb     19th June 2018 A strong operating performance in the first half of 2018 has seen dual-listed OceanaGold increase its gold production guidance for the year to between 500 000 oz and 540 000 oz. The new guidance, announced on Tuesday, compares with the company’s previously stated production target of 480 000 oz... 

BHP offers August loading LNG cargo from Australia export plant - sources

By: Reuters     19th June 2018 Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the August 15 to 17 period and is offered on a free-on-board basis, they said. 

Argosy declares maiden resource at Rincon

By: Esmarie Swanepoel     19th June 2018 ASX-listed Argosy Minerals has reported a maiden inferred mineral resource of 207 957 t of contained lithium carbonate equivalent at its Rincon lithium project, in Argentina. MD Jerko Zuvela said on Tuesday that the resource estimate would support production targets at Rincon, which Argosy was... 

Rio takes Alloy up on Paterson offer

By: Esmarie Swanepoel     19th June 2018 ASX-listed Alloy Resources has signed a farm-in and joint venture agreement with the exploration arm of major Rio Tinto over an exploration license in the Paterson region of Western Australia. Under the terms of the agreement, Rio Tinto Exploration could earn a 70% interest in the tenement by... 

Alicanto tumbles on Barrick exit

By: Esmarie Swanepoel     19th June 2018 The share price of ASX-listed Alicanto Minerals dropped by more than 20% on Tuesday after Canadian miner Barrick Gold Corporation withdrew from the Arakaka earn-in agreement, in Guyana. Barrick had the option of earning a 65% interest in the project by spending $10-million on the project area,... 

Latin Resources secures funds for lithium expoloration

By: Esmarie Swanepoel     19th June 2018 Minerals explorer Latin Resources has secured a A$6-million convertible security funding agreement (CSFA) with an optional equity earn-in into the company’s lithium projects in Argentina, with financier Lind Asset Management XII. The funding will include an initial A$2-million, which will be... 

MinRes given tight deadline to improve Atlas bid

By: Esmarie Swanepoel     19th June 2018 Iron-ore miner Atlas Iron has given suitor Mineral Resources (MinRes) three business days to match the takeover offer Hancock Prospecting put on the table earlier this week. Hancock on Monday revealed a 4.2c a share cash offer for Atlas, in which it already holds a 19.96% interest. 

Asia's thermal coal demand poised to grow

By: Esmarie Swanepoel     19th June 2018 Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030. 

Asia's thermal coal demand poised to grow

Europa Metals starts Toral scoping study

By: Creamer Media Reporter      19th June 2018 Explorer Europa Metals has appointed UK-based Addison Mining Services to conduct an initial scoping study on the Toral lead, zinc and silver project, in Leon, Spain. Addison previously compiled the Toral project's mineral resource estimate, which states that the project has a metal content of... 

Tshipi may distribute R1.5bn to shareholders in Sept

By: Creamer Media Reporter      18th June 2018 Tshipi é Ntle Manganese Mining, in which ASX-listed Jupiter Mines owns a 49.9% stake and which operates the Tshipi Borwa mine, expects to distribute R1.5-billion to its shareholders in September. In an update on Monday, Jupiter said Tshipi’s operations continue to exceed plan with annualised... 

Lucapa, partners sell another $2m of Lulo diamonds

By: Creamer Media Reporter      18th June 2018 ASX-listed Lucapa Diamond Company and its partners Empresa Nacional de Diamantes (Endiama) and Rosas & Petalas have completed a further sale of 1 782 ct of alluvial diamonds from the Lulo project, in Angola. The parcel achieved gross sale proceeds of $2-million, or A$2.7-million, representing an... 

Correction: Independence Group nine-month output

18th June 2018 Diversified metals miner Independence Group has delivered 14 914 t of nickel in concentrate, 6 315 t of copper in concentrate and 490 t of cobalt in concentrate in the nine months to March. Mining Weekly incorrectly stated on June 14 that the nine-month production was the full-year guidance. 

Rio spending $2.2bn on iron-ore supply

By: Esmarie Swanepoel     18th June 2018 Diversified miner Rio Tinto on Monday revealed that it will be spending some $2.2-billion over the next three years on replacement mines for its iron-ore operations in the Pilbara, including initial spending on the proposed Koodaideri, West Angelas and Robe Valley developments. Rio’s iron-ore... 

Senex and Jemena strike deal to fast-track project for east coast gas supply

By: Esmarie Swanepoel     18th June 2018 ASX-listed Senex Energy has struck an agreement with infrastructure operator Jemena to partner on the accelerated development of Project Atlas, in Queensland, to deliver first gas to the domestic market by late 2019. Under the agreement, Jemena will build, own and operate a gas processing... 

High Court lifts interim order against MC Mining's Makhado project

By: African News Agency      18th June 2018 MC Mining, previously known as Coal of Africa, on Monday said it welcomed a high court decision to lift an interim order against the company's environmental authorisation for the Makhado hard coking and thermal coal project. The court had in 2014 granted the Vhembe Mineral Stakeholders Forum and... 

Australia's Port Kembla reopens after cargo ship blaze

By: Reuters     18th June 2018 A fire in the hold of a bulker ship on Monday briefly closed Australia's Port Kembla, the second-largest coal export port in New South Wales state, stopping shipping for eight hours. The port was shut soon after the blaze began before dawn on the MV Iron Chieftain as it unloaded dolomite, a... 

Red 5 divests of Mt Cattlin royalty

By: Esmarie Swanepoel     18th June 2018 ASX-listed junior Red 5 has entered into an agreement to divest of its royalty entitlement from the Mt Cattlin lithium mine, in Western Australia, to Canadian royalty company Lithium Royalty Corporation (LRC). Red 5 owns the right to receive A$1.50/t of ore processed from the Mt Cattlin mine,... 

Havilah reveals maiden reserve at Kalkaroo

By: Esmarie Swanepoel     18th June 2018 Junior Havilah Resources has reported a maiden ore reserve of 474 000 t of contained copper and 1.41-million ounces of gold at its Kalkaroo copper/cobalt/gold project, in South Australia. The ASX-listed Havilah noted that the ore reserve estimate did not include cobalt at this stage, with the... 

Rinehart’s Hancock bids $390m for Atlas, trumps MinRes offer

By: Esmarie Swanepoel     18th June 2018 Gina Rinehart’s Hancock Prospecting has solidified its intentions for ASX-listed Atlas Iron, revealing a 4.2c a share takeover offer, or A390-million, for the Pilbara iron-ore miner. Atlas told shareholders on Monday that the Hancock offer, which would open in about two weeks’ time, would be... 

South32 offers $1.3bn for rest of Arizona

By: Esmarie Swanepoel     18th June 2018 Diversified miner South32 has struck a $1.3-billion takeover deal with TSX-listed Arizona Mining, offering to acquire the remaining 83% interest in the company through an all-cash offer. South32 is offering Arizona shareholders C$6.20 a share for their interest in the TSX-listed miner, which... 

South32 offers $1.3bn for rest of Arizona
South32 CEO Graham Kerr

Pilgangoora ships first lithium DSO

By: Esmarie Swanepoel     18th June 2018 The first 85 000 t of direct shipping ore (DSO) from the Pilgangoora lithium/tantalum project, in Western Australia, has been shipped by ASX-listed Atlas Iron under a mine gate sales agreement with producer Pilbara Minerals. The lithium was exported to China under an offtake agreement under... 

Santos awards Barossa contracts

By: Esmarie Swanepoel     18th June 2018 Oil and gas major Santos has awarded three major engineering contracts on the front-end engineering and design (FEED) phase of its Barossa offshore project. Santos on Monday said that separate engineering contracts for the proposed floating production storage and offloading facility (FPSO) have... 

Finders reports wall failure at Wetar

By: Esmarie Swanepoel     18th June 2018 Copper miner Finders Resources has reported a wall failure at its Kali Kuning openpit mine, at the Wetar copper project, in Indonesia. The company on Monday said that 175 000 bank cubic meters of waste rock from the north-eastern high wall were displaced into the pit on June 14, with mining... 

Samarco is said to be nearing settlement with Brazil prosecutors

By: Bloomberg     15th June 2018 After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... 

Albemarle receives approval for WA lithium plant

By: Esmarie Swanepoel     15th June 2018 The Western Australian Environmental Protection Authority (EPA) has approved the development of a lithium hydroxide manufacturing plant, outside of Bunbury. The plant, to be developed by global producer Albemarle, will produce up to 100 000 t/y of lithium hydroxide monohydrate from five 20 000... 

Hawkstone abandons US lithium buy

By: Esmarie Swanepoel     15th June 2018 The Australian share price of Hawkstone Mining dropped by more than 22% on Friday after the company announced its withdrawal from its acquisition of USA Lithium. Hawkstone in March this year took an option over USA Lithium, which holds the Big Sandy and Lordsburg lithium projects, in Arizona and... 

Black Mountain finds partner in Uganda

By: Esmarie Swanepoel     15th June 2018 ASX-listed Black Mountain has secured a farm-in partner for its Busumbu phosphate project, in Uganda. Black Mountain has struck a deal with African Minerals Ventures (AVM), which will earn a 51% interest in the project by spending $3-million over the next three years, with Black Mountain to... 

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