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NSW proposes change to mining project assessment policy

By: Esmarie Swanepoel The New South Wales government on Tuesday released a proposed amendment to the Mining State Environmental Planning Policy (SEPP), which Planning Minister Rob Stokes said would remove a provision making the significance of the resource the principal consideration when determining mining... 

Aurelia unveils Hera expansion plan, but warns of impairment

By: Esmarie Swanepoel Despite warning of a full-year impairment of between A$60-million and A$90-million, gold miner Aurelia Metals on Tuesday announced plans to expand production at its Hera gold/lead/zinc mine, in New South Wales. The Hera project poured its first gold in September last year, but the project was... 

Iron-ore to boost Australia economy by A$600bn in next decade – report

By: Esmarie Swanepoel New research commissioned by the Minerals Council of Australia (MCA) has revealed that despite the severe fall in iron-ore prices, the Australian iron-ore sector is expected to contribute more than A$600-billion to the economy over the next decade. In the new report, titled ‘Iron Ore; The Bigger... 

Reed finalises Metals X deal

By: Esmarie Swanepoel ASX-listed Neometals on Tuesday announced that its 70%-held subsidiary Reed Industrial Minerals had completed a deal with fellow-listed Metals X over the Mt Marion lithium project, in Western Australia. In January this year, the two companies signed a memorandum of understanding that would see... 

Saracen beats production expectations

By: Esmarie Swanepoel Gold miner Saracen Mineral Holdings on Tuesday reported that gold production for the year ended June exceeded expectations, following record production in the month of June. Gold production during the full year reached 167 531 oz of gold, compared with a previously announced guidance of 160 000... 

Pilbara makes a play for Tabba Tabba

By: Esmarie Swanepoel Strategic minerals company Pilbara Minerals has announced plans to acquire full ownership of the Tabba Tabba tantalum project, in Western Australia. Pilbara currently holds a 50% interest in a joint venture with Valdrew Nominees, trading as Nagrom & Co, over the Tabba Tabba project. 

Silver Mines reveals growth strategy

By: Esmarie Swanepoel The share price of ASX-listed Silver Mines increased by 50% on Tuesday after the company announced that it would continue with an acquisition drive. Last month, Silver Mines acquired the Conrad silver project, in New South Wales, from fellow-listed Malachite for A$350 000 and the issue of A$125... 

Graphite price index falls 3 percentage points

By: Henry Lazenby Weak end-markets had caused finer mesh grades of graphite to slip further as summer sales failed to see a seasonal upswing, London-based research house Benchmark Mineral Intelligence said in a new report on Monday. The Benchmark Graphite Index fell a further three percentage points in June, down... 

Greece, China woes trigger fresh rout, led by oil, copper

By: Reuters Commodities prices dropped to their lowest in nearly three months on Monday, dragged lower by a fresh rout in oil and copper as Greece's rejection of debt bailout terms and China's stock market woes unleashed a fresh round of selling. Gold eked out small gains, one of only five commodities to... 

China Molybdenum says ready to make $2.15bn mine acquisition

By: Reuters China Molybdenum Luoyang Co is poised to make an offer for an overseas mining project costing up to $2.15-billion, the latest push by a Chinese enterprise to acquire resource assets beyond its borders. Officials from China Moly, as it is known, could not be immediately contacted for further... 

China Molybdenum says ready to make $2.15bn mine acquisition

Glencore confirms production halt at NSW underground coal mine

By: Esmarie Swanepoel Diversified miner Glencore has confirmed that production at its West Wallsend underground coal mine, in New South Wales, has been halted, owing to longwall issues. Glencore in May announced that mining at West Wallsend would be completed next year, consistent with the life-of-mine planning. The... 

Glencore confirms production halt at NSW underground coal mine

AGL to sell Hunter Valley CSG project, other noncore assets

By: Esmarie Swanepoel Energy major AGL Energy has warned of about A$435-million in after-tax asset impairments for the 2015 financial year as it divests of its noncore assets. The company told shareholders on Monday that the decision to divest of its noncore assets followed a comprehensive review of its upstream gas... 

Gryphon ‘significantly’ enhances Burkina Faso project economics

By: Esmarie Swanepoel An updated scoping study into the Banfora gold project, in Burkina Faso, has significantly increased the project’s economics, owner Gryphon Minerals reported on Monday. The optimised study has increased the project’s after-tax net present value from a 2014 estimate of A$90-million to... 

African Energy to sell Botswana coal and power project to SA developer 

By: Esmarie Swanepoel ASX-listed African Energy has signed a term sheet with a South African project developer to divest of its Mmamantswe coal and power project, in Botswana. Subject to certain conditions precedent, African Energy would sell the Mmamantswe project for an initial sum of $10-million to the developer,... 

Poseidon declares reserve at Maggie Hays

By: Esmarie Swanepoel Nickel miner Poseidon Nickel has reported a maiden reserve estimate for the Maggie Hays deposit, within the Lake Johnston project, in Western Australia, of 1.9-million tonnes, grading 1.19% nickel for 22 600 t of contained nickel. The miner reported on Monday that the ore reserve represented an... 

Northern Iron subsidiary gets a lifeline

By: Esmarie Swanepoel Iron-ore junior Northern Iron on Monday announced that its Norwegian subsidiary Sydvaranger Gruve AS (SVG) has instigated a number of initiatives to improve the company’s financial position and to ensure the continuation of the group’s operations. SVG earlier this year admitted to its economic... 

Portia hitting targets - Havilah

By: Esmarie Swanepoel ASX-listed gold junior Havilah Resources will add a second fleet of mining equipment at its Portia gold mine, in South Australia, to double excavation capacity after hitting production targets in June. The ASX-listed miner said on Monday that some 400 000 m3 of material was moved during June... 

Oil, steel, base metals fall on Greek 'no' vote, China market turmoil 

By: Reuters Most commodity prices suffered falls on Monday, compounding worries about oversupply, after Greece rejected terms for a bailout and top consumer China unleashed emergency measures over the weekend to prevent a full-blown stock market crash. Brent crude fell below $60 per barrel on Monday, to... 

Rhodium slides to its lowest in more than a decade

By: Reuters Rhodium prices slid to their lowest level in more than a decade on Friday, suffering along with other platinum group metals from perceptions that the metal, widely used in the car industry, is in plentiful supply. Rhodium fell to $790 an ounce on Friday, its weakest since March 2004, extending... 

Bohm to join Tawana board, expects to add value to Mofe Creek

By: Megan van Wyngaardt JSE-listed Tawana Resources appointed Michael Bohm to its board as an independent nonexecutive director, effective August 1. “We are delighted that Bohm has joined the board and recognise the extensive corporate and project development skills he brings to the role, with the particular emphasis of... 

Strata-X Energy appoints Greg Hancock nonexecutive director

By: Creamer Media Reporter TSX-V- and ASX-listed Strata-X Energy has appointment Greg Hancock as a nonexecutive director effective immediately, following the resignation of Don Schurman on Wednesday. Strata-X president Tim Hoops said on Thursday that Hancock’s extensive knowledge of corporate finance and capital markets in... 

Supply of quality copper concentrate shrinks, sows seeds of price support

By: Reuters Supply of high quality copper concentrate shrank more than expected in the first half of this year due to output delays in top miner Chile, squeezing the pipeline for metal producers and likely supporting prices later in 2015, traders said. Production from two of four mines in Chile that churn... 

Supply of quality copper concentrate shrinks, sows seeds of price support

Western Areas debt free as it retires convertible bonds

By: Esmarie Swanepoel Nickel miner Western Areas has become debt free for the first time since 2004, after repaying some A$125-million of convertible bonds from existing cash reserves. MD Dan Lougher told shareholders on Friday that the repayment of the final convertible bonds on their maturity was an important... 

Resources industry welcomes Unesco's Great Barrier Reef decision

By: Esmarie Swanepoel The Australian government and resources industry have welcomed a decision by the United Nations Educational, Scientific and Cultural Organisation (Unesco) World Heritage Committee not to place the Great Barrier Reef on the ‘in-danger’ list. The 21-member committee this week took a final decision... 

Resources industry welcomes Unesco's Great Barrier Reef decision

Centennial’s Springvale life extension plan receives planning approval

By: Esmarie Swanepoel The mine life at the Springvale coal mine, in New South Wales, has been extended by 13 years after the state’s Planning Assessment Commission (PAC) approved owner Centennial Coal’s extension plans. The existing mine produces 4.5-million tonnes a year of run-of-mine coal from the Lithgow seam,... 

Geopacific raises cash for Cambodia exploration

By: Esmarie Swanepoel Junior metals explorer Geopacific Resources would raise some A$23-million through a share placement and rights issue to fund exploration work at its Kou Sa project, in Cambodia. The ASX-listed company on Friday announced that it would raise an initial A$9-million through the placement of... 

Vogel to step down as EPA chair

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) has announced that chairperson Paul Vogel would step down from his position at the end of his term in November. Vogel, who was appointed in 2007, is the second longest serving chairperson in the EPA’s 44-year history. 

Padbury granted mining lease for Telecom Hill

By: Esmarie Swanepoel ASX-listed Padbury Mining has had the mining lease over its Telecom Hill iron project, in Western Australia, approved. Over the past four years, the company has completed multiple exploration and evaluation programmes at the Telecom Hill project, defining a Joint Ore Reserves Committee... 

Australia mining shares tumble as iron ore price at two-month low

By: Reuters Shares in Australia's biggest iron-ore miners tumbled on Friday, after the price of the steel making raw material hit the lowest in more than two months amid further evidence of growing shipments to China. Iron ore for immediate delivery to China stood at $55.80/t, its weakest since late April,... 

Glencore is latest firm talking with Iran over future oil business

By: Reuters Global mining and commodity trading firm Glencore met with Iranian officials in Tehran to discuss possible business deals should economic sanctions be lifted, industry sources said on Thursday. Iran is negotiating with the US and five other big powers - Britain, China, France, Germany and Russia... 

Anglo plans major job cuts, sources say, as investors push for bolder overhaul 

By: Reuters Anglo American is planning to cut between 5% and 20% of staff at head offices around the world, sources close to the matter said, in an effort to keep shareholders on side and respond to a commodity price rout that has hit profits. The mining company, which employs some 151 200 staff globally, is... 

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