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Aquila/Vale sign Belvedere deal

By: Esmarie Swanepoel Diversified miner Aquila Resources has reached an agreement with joint venture partner Vale on the price for its share in the Belvedere hard coking coal project, in Queensland. In December last year, the company’s 24.5% share in the Belvedere project was given a A$150-million price tag by a... 

Anketell port receives WA govt enviro nod

By: Esmarie Swanepoel The Western Australian government has given environmental approval for the development of the 115-million-ton-a-year Anketell multi-user port. The port would have an initial capacity of 115-million tons a year, and development would occur over 20 years, with the ultimate capacity expected to be... 

Aquila's Belvedere stake gets A$150m price tag

By: Esmarie Swanepoel ASX-listed Aquila Resources’ stake in the Belvedere hard coking coal project, in Queensland, has been given a price tag of A$150-million by an investment bank acting as determining valuer. Aquila has been at loggerheads with its joint venture (JV) partner Vale since 2010, with the two partners... 

West Pilbara decision by March - Aquila

By: Esmarie Swanepoel ASX-listed Aquila Resources was hopeful that an arbitrator could solve a financial quarrel with joint venture (JV) partner AMCI by the March quarter of next year, regarding the 2012/13 capital spend on the West Pilbara iron-ore project. Aquila and AMCI have been involved in a months-long dispute... 

Aquila’s West Pilbara project costs surge to A$7.4bn

By: Esmarie Swanepoel Diversified junior Aquila Resources has warned of a cost blowout at its 50%-held West Pilbara project, saying the iron-ore mine would cost A$1.6-billion more. The miner on Monday set a revised base case capital cost of A$7.4-billion, which compared with the A$5.77-billion it estimated in the... 

Aquila curbs West Pilbara spend, Hanlong's Sundance bid approved and Atlas, Brockman and QR study rail options in the Iron-Ore Roundup

By: Research Author As part of its ongoing commitment to delivering timely and useful information on mining, Creamer Media has launched a new monthly report – the Iron-ore Roundup, which is a business and information tool for decision makers involved in the sector. This report, which will be available to subscribers... 

Arbitrator brought in to resolve Aquila, AMCI dispute

By: Esmarie Swanepoel Diversified junior Aquila Resources has been unable to resolve a budget dispute with its West Pilbara iron-ore project joint venture (JV) partner, AMCI, and would now turn to an arbitrator to handle the matter. In August, the ASX-listed miner said that it would undertake an expenditure... 

Aquila reviews expenditure for West Pilbara project

By: Esmarie Swanepoel Diversified junior Aquila Resources on Monday said it would curb expenditure at its West Pilbara iron-ore project, despite reporting a 40% increase in resources. In its quarterly report for the three months to June, Aquila noted that it would undertake an expenditure optimisation process to... 

115Mt/y Anketell port gains EPA approval

By: Esmarie Swanepoel The Western Australian Environmental Protection Authority (EPA) has given its approval for the development of the multi-user Anketell Point port facility. The port proposal includes the establishment and operation of a deep-water port with iron-ore stockpiling, transfer and ship-loading... 

Aquila completes Isaac Plains sale

By: Esmarie Swanepoel Diversified junior Aquila Resources on Thursday reported that the sale of its 50% interest in the Isaac Plains coal mine to Japan’s Ocean Coal Mining has now been declared unconditional, after all conditions precedent were satisfied. At the start of April this year, Aquila agreed to sell its... 

Aquila says Hudbay suspends work at US project

TSX-listed Aquila Resources on Tuesday said its joint venture (JV) partner Hudbay Minerals had suspended development activities at the Back Forty gold and zinc project in the US, owing to other capital commitments on its key development projects and global economic conditions. The Back Forty... 

Vale's option over Isaac Plains lapses

By: Esmarie Swanepoel Diversified junior Aquila Resources has reported that the sale of its 50% interest in the Isaac Plains coal mine to Ocean Coal Mining has moved one step closer to completion, after project partner Vale failed to take up its option on the project. During April, Aquila announced that it would sell... 

Aquila declares maiden resource at Injune

By: Esmarie Swanepoel Diversified junior Aquila Resources has declared a maiden resource of 826.9-million tons for its Injune thermal coal project, in Queensland. Executive chairperson Tony Poli said on Friday that the maiden resource estimate included a measured and indicated resource of 155.5-million tons and an... 

Aquila declares maiden resource at Walton

By: Esmarie Swanepoel A maiden resource of 79.24-million tons has been declared at diversified junior Aquila Resources’ Walton coal project, in Central Queensland. The resources consist of some 20.31-million tons of coal in the measured and indicated category, as well 55.98-million tons of inferred resource. 

Aquila upgrades Thabazimbi resource

By: Esmarie Swanepoel Diversified junior Aquila Resources has reported a 43% increase in the resource estimate of its Thabazimbi iron-ore project, in South Africa. The project is now estimated to host some 67.9-million tons of resource, at 61.6% iron, with some 72% of the resource classified as measured and indicated. 

Aquila sells coal stake to Japan as it raises funds for iron-ore

By: Esmarie Swanepoel Diversified junior Aquila Resources has decided to keep its South African manganese project, but moved ahead with plans to offload Queensland coal mines to fund the development of its West Pilbara iron-ore project. The company announced on Tuesday that it had sold its 50% interest in the Isaac... 

Queensland court dismisses Vale’s Belvedere appeal

By: Esmarie Swanepoel The Queensland Supreme Court has closed off Brazilian giant Vale’s last avenue of appeal in its dispute with diversified junior Aquila Resources, regarding the value of the Belvedere hard coking coal project. The Court of Appeals has dismissed Vale’s appeal against a June 2011 verdict, which... 

Aquila increases Avontuur resource

By: Esmarie Swanepoel Diversified junior Aquila Resources has increased the manganese resource at its Avontuur property, in South Africa to some 147.8-million tons. Drilling at the newly discovered Haakdoorn and Gravenhange South manganese prospects have identified a maiden inferred resource of 28.8-million tons, at... 

Aquila and Vale set aside Isaac Plains differences

By: Esmarie Swanepoel Diversified junior Aquila Resources has reached an agreement with Brazilian major Vale to resolve a number of outstanding issues in respect of the Isaac Plains joint venture (JV), in Queensland. Vale and Aquila subsidiary IP Coal have been at loggerheads over the terms of offtake from the Isaac... 

Aquila to publish Back Forty PEA by end-May

By: Matthew Hill Aquila Resources, which has a 49% stake in the Back Forty gold and zinc project in Michigan, said on Wednesday it will publish a preliminary economic assessment (PEA) on the asset in the next 60 days. The TSX-listed exploration firm also said it formalised an agreement with Canada’s HudBay... 

Aquila confirms 'advanced discussions' for Washpool

By: Esmarie Swanepoel Diversified junior Aquila Resources on Thursday confirmed that it was in “advanced discussions” with special purpose vehicle International Coal Ventures (ICVL) regarding the sale of its Washpool hard coking coal project, in Queensland. However, the miner noted that at this time, no binding offer... 

Aquila widens loss as it ups spending on studies, exploration

By: Esmarie Swanepoel Diversified junior Aquila Resources has reported a 19% increase in its earnings before interest, tax, depreciation and amortisation (Ebitda) for the six months ended December, driven by the performance if its Isaac Plains coal mine in Australia. Ebitda increased to A$35.9-million during the... 

Merged Glencore, Xstrata would take aim at iron ore

By: Reuters An $80-billion marriage of commodities trader Glencore and miner Xstrata could lead to a new round of takeovers in iron ore, creating a goliath eager to muscle its way onto one of mining's richest and most closely guarded industries. Glencore and Xstrata, which have yet to reach a deal, would... 

Tipper appointed as new CEO to Brockman

By: Esmarie Swanepoel Iron-ore junior Brockman Resources has appointed Russell Tipper as CEO, effective from March 1. Tipper would join the Brockman board from fellow listed Aquila Resources, where he has been acting as GM for the iron-ore division for more than four years. 

Eagle Downs set for 2015 production as Aquila, Vale agree on plan

By: Esmarie Swanepoel Diversified junior Aquila Resources on Wednesday reported that its Eagle Downs hard coking coal joint venture (JV) with Brazilian major Vale could be in production as early as 2015, after the mine development was approved in late December. The A$1.3-billion Eagle Downs mine has been a bone of... 

Aquila's West Pilbara moves closer to production

By: Esmarie Swanepoel The Western Australian Environment Minister Bill Marmion has conditionally approved ASX-listed Aquila Resources’ West Pilbara iron-ore project. Marmion’s conditional approval for the construction and operation of the West Pilbara site followed shortly after the federal Department of... 

Aquila applies for Kalahari manganese licence as DFS confirms viability

By: Esmarie Swanepoel A definitive feasibility study (DFS) of the Gravenhage manganese project, in South Africa, has confirmed the technical and economic viability of a 1.5-million-ton-a-year operation, diversified junior Aquila Resources said on Wednesday. The DFS proposes an opencut operation with subsequent... 

Sentula headline earnings flat, CEO sees volatile period ahead

By: Henry Lazenby JSE-listed mining services provider and coal miner Sentula Mining on Friday reported a R230-million loss for the half-year ended September 30, despite a 10% revenue increase to R1.35-billion. Headline earnings, which strip out certain one-off costs, remained unchanged at 10.6c a share when... 

Aquila says West Pilbara project to cost more

By: Esmarie Swanepoel Diversified miner Aquila Resources on Tuesday confirmed that the development costs for its West Pilbara iron-ore project were likely to increase. In response to an article in local media, Aquila chairperson Tony Poli said that although the definitive feasibility study had not yet been completed... 

Anketell port may be 100Mt/y development – Aquila

By: Esmarie Swanepoel The executive chairperson of diversified miner Aquila Resources, Tony Poli, this week said that the latest discussions with government regarding the proposed Anketell port was suggesting an initial capacity of 100-milion tons a year. Aquila, which was one of the companies in the running for... 

Aquila signs transport agreement for Washpool project

By: Esmarie Swanepoel ASX-listed Aquila Resources’s wholly owned subsidiary Washpool Coal has signed a rail transport agreement with freight operator QR National for product transport from A$368-million Washpool project, in Queensland. The ten-year contract with QR National was for the transport of up to 1.6-million... 

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