R/€ = 16.76 Change: 0.00
R/$ = 14.64 Change: 0.01
Au 1184.72 $/oz Change: 7.82
Pt 786.75 $/oz Change: 5.92


Gascoyne raises funds for Dalgaranga

By: Esmarie Swanepoel     17th August 2018 Gold developer Gascoyne Resources was hoping to raise up to A$15-million through the issue of around 50-million shares to fund the final stages of development at its Dalgaranga gold project, in Western Australia. The shares will be priced at 30c each, representing a 16.7% discount to the... 

Ausdrill raises first A$175m

By: Esmarie Swanepoel     17th August 2018 Mining services provider Ausdrill has raised some A$175-million from the institutional component of its 1-for-2.13 pro-rata non-renounceable entitlement offer. The completion of the institutional offer is the first stage of the company’s fully underwritten entitlement offer, which is expected to... 

Infinity launches scoping of lithium hydroxide option

By: Esmarie Swanepoel     17th August 2018 ASX-listed Infinity Lithium Corporation has launched a lithium hydroxide scoping study at its San Jose resource, in Spain. The lithium hydroxide scoping study will start in direct response to the increased demand and supply chain considerations in the evolving battery chemicals market, the... 

Qld jobs on the rise

By: Esmarie Swanepoel     17th August 2018 The Queensland Resources Council (QRC) on Friday said that a plethora of positions were still available in the state’s resources sector. The state government this week revealed that some 4 400 new jobs were created in July across Queensland, the 22nd straight month of jobs growth. 

Nkwe recommends Zijin offer aceptance

By: Esmarie Swanepoel     17th August 2018 The independent directors of South Africa-focused Nkwe Platinum have unanimously recommended a 10c a share takeover offer from shareholder Zijin Mining Group. The 10c a share takeover offer was a 25% improvement on the 8c a share offer launched in March this year, and provided shareholders with... 

Evolution's profits surge in 2018

By: Esmarie Swanepoel     17th August 2018 Gold miner Evolution has reported a 21% surge in underlying net profits after tax for the 2018 financial year, on the back of a 4% increase in sales revenues. Underlying net profits after tax for the full year ending June reached A$250.8-million, while statutory net profit after tax also... 

Kangaroo shares jump on deal

By: Esmarie Swanepoel     17th August 2018 The share price of junior Kangaroo Resources surged by more than 40% on Friday on news of a takeover offer from major shareholder PT Bayan Resources. Kangaroo on Friday reported that it had entered into a binding scheme implementation agreement with PT Bayan under which the shareholder would... 

BP signs up for PNG LNG

By: Esmarie Swanepoel     17th August 2018 The joint venture partners of the Papua New Guinea liquefied natural gas (PNG LNG) project have entered into a mid-term LNG sales and purchase agreement with BP Singapore. Under the terms of the agreement, BP will be supplied with around 0.45-million tonnes of LNG a year over an initial... 

Poseidon gets conditional proposal

By: Esmarie Swanepoel     17th August 2018 ASX-listed Poseidon Nickel has received a conditional proposal from Perth-based Black Mountain Metals. Poseidon told shareholders on Friday that while no formal bid price per share has been offered or agreed upon, Black Mountain has made an informal proposal of 6c a share 

Iluka's H1 earnings surge

By: Esmarie Swanepoel     16th August 2018 Mineral sands miner Iluka has reported an 80% increase in the underlying group earnings before interest, tax, depreciation and amortization (EBITDA) for the half-year to June. Underlying EBITDA reached A$278.5-million in the interim period, compared with the A$154.6-million in the previous... 

New assets deliver turnaround for Yancoal

By: Esmarie Swanepoel     16th August 2018 ASX-listed Yancoal Australia has reported significantly improved numbers in the six months ended June, after the acquisition of mining major Rio Tinto’s Coal & Allied assets in 2017. Yancoal on Thursday reported that revenue for the interim period had reached A$2.3-billion, compared with the... 

Origin swings to profit

By: Esmarie Swanepoel     16th August 2018 Energy major Origin Energy has swung into profit for the financial year ended June, following a full year of operations from both the liquefied natural gas (LNG) trains at its Australia Pacific LNG operation, as well as higher commodity prices. Statutory profit for the full year to June was... 

Neometals to separately list titanium and vanadium business

By: Esmarie Swanepoel     16th August 2018 The board of ASX-listed Neometals has approved the demerger of the Barrambie titanium/vanadium project, in Western Australia, along with the associated technology assets, into a newly listed company. Neometals told shareholders on Thursday that the move would allow the company and the newly... 

Oz Minerals profit jumps 59%, completes review of new Brazil assets

By: Esmarie Swanepoel     16th August 2018 Copper/gold miner Oz Minerals has reported a 59% increase in net profit after tax for the interim period ended June, with underlying earnings before interest, tax, deprecation and amortisation (Ebitda) increasing by 33%. Net profit after tax for the six months to June was reported at... 

Rio reports fatality in the Pilbara

By: Esmarie Swanepoel     16th August 2018 Mining major Rio Tinto has reported a fatality at its Paraburdoo mine, in the Pilbara. A spokesperson for the company told Mining Weekly Online that the incident is being investigated by the relevant authorities, with the full cooperation of the company. 

Ausdrill adds underground expertise with Barminco deal

By: Esmarie Swanepoel     15th August 2018 Mining services provider Ausdrill has made a takeover offer for joint specialist underground hard-rock mining contractor Barminco in a deal valued at A$271.5-million. The transaction will create Australia’s second-largest mining services company. 

Woodside posts A$541m half-year profit

By: Esmarie Swanepoel     15th August 2018 Oil and gas producer Woodside has reported an interim net profit after tax of A$541-million for the six months to June, with operating cash flows for the period up by 25% on the first half of 2017. Woodside said on Wednesday that the increased operating cash flows was driven by higher production... 

Gold Mountain boosts its exploration efforts in PNG

By: Esmarie Swanepoel     14th August 2018 ASX-listed Gold Mountain has completed the assembly and commissioning of a large-capacity mobile plant to process coarse gold and platinum bulk samples. Gold Mountain holds a number of exploration tenements in Papua New Guinea, with its flagship Crown Ridge project in the final stage assessment... 

Terramin refinances standby term facility

By: Esmarie Swanepoel     14th August 2018 ASX-listed Terramin Australia has struck a refinancing deal with shareholder Asipac Group to restructure a standby term facility. The existing unsecured facility has now been increased from A$3.25-million to A$5.25-million on similar terms and will be secured in accordance with the terms of the... 

Balama fines circuit gets an upgrade

By: Esmarie Swanepoel     14th August 2018 The commissioning of attrition cells for the fines graphite circuit at the Balama graphite project, in Mozambique, has been successfully completed, ASX-listed Syrah Resources said. The company told shareholders that initial assessment was showing significant improvement in fines graphite fixed... 

Western Surat gas project receives final enviro nod

By: Esmarie Swanepoel     14th August 2018 ASX-listed Senex Energy has been given commonwealth environmental approval for its Western Surat gas project, bringing the project one step closer to development. Along with the previously granted state environmental approvals and petroleum lease, Senex has received all primary approvals to... 

Boonanarring on track and budget - Image

By: Esmarie Swanepoel     14th August 2018 Commissioning and first production from the Boonanarring mineral sands project, in Western Australia, remained on track for the fourth quarter of this year, owner Image Resources said. The company on Tuesday said that construction of the opencut mine started in April, with the exposure of first... 

APA takes up A$13bn offer

By: Esmarie Swanepoel     13th August 2018 The directors of energy infrastructure business APA Group have unanimously recommended a near A$13-billion takeover offer from a consortium led by CK Infrastructure Holdings. The A$11 a share offer was first flagged in June this year, with the consortium, which also includes CK Asset Holdings... 

Santos expands drilling in Cooper basin

By: Esmarie Swanepoel     13th August 2018 Oil and gas major Santos has started operation of a fourth rig in the Cooper Basin, as part of a drive to produce more natural gas to supply the east coast domestic market. The company on Monday said that the rig will drill eight wells by the end of this year, starting with the Big Lake field,... 

Minnovare and Northern Star Resources Announce New ‘Technology Collaboration’.

13th August 2018 Minnovare’s ongoing collaboration with industry leading gold miner Northern Star Resources, has led to the announcement of an official ‘Technology Collaboration’ that sees the development and implementation of Minnovare technology across Northern Star’s operations in Western Australia. The... 

Lithium and copper tipped as major Australian export drivers

By: Esmarie Swanepoel     13th August 2018 The Reserve Bank of Australia (RBA) has tipped lithium and copper to be the major drivers for commodity exports in Australia, in the next few years. In its August Statement on Monetary Policy, the RBA noted that mineral exploration and mining activity for commodities used in the rechargeable... 

GR Engineering settles Davyhurst dispute

By: Esmarie Swanepoel     13th August 2018 Perth-based GR Engineering and fellow-listed Eastern Goldfields have struck a settlement agreement relating to the 2017 refurbishment contract of the Davyhurst processing plant. GR Engineering said on Monday that while the terms of the settlement deed were confidential, the company could... 

Century produces first zinc concentrate

By: Esmarie Swanepoel     13th August 2018 The Century zinc mine, in Queensland, has produced its first zinc concentrate, owner New Century Resources reported. The company on Monday said that the start of tailings slurry flotation at Century presented an important milestone, demonstrating the initial proof of concept for the large-scale... 

Metro signs more offtake deals

By: Esmarie Swanepoel     13th August 2018 Bauxite miner Metro Mining has signed two additional binding offtake agreements for 2018 and 2019, for an accumulative 780 000 t of product. The miner said on Monday that 580 000 t of this offtake was due for delivery in 2018, with the remainder, at Metro’s option, in either 2018 or 2019. 

South32 completes Arizona buy

By: Esmarie Swanepoel     13th August 2018 Diversified miner South32 has completed the $1.3-billion acquisition for the remaining 83% share in TSX-listed Arizona Mining. The Canadian firm has now been delisted from the TSX, and will cease to be a reporting issuer under the Canadian securities law. 

Aurora walks away from Molopo Energy

By: Esmarie Swanepoel     10th August 2018 Suitor Aurora Funds Management has withdrawn its takeover bid for ASX-listed Molopo Energy, saying the company had made a number of transactions that are considered to be defeating conditions of the bid. The transactions saw Molopo not only take full ownership of the Orient oil and gas project,... 

Consolidated Zinc moves forward Mexico mine plans to this year

By: Esmarie Swanepoel     10th August 2018 ASX-listed Consolidated Zinc has flagged the start of production from its Plomosas zinc/lead/silver mine, in Mexico, before the end of 2018. The company had initially targeted a large production facility to start in 2019/20; however, Consolidated Zinc said on Friday said that the results from... 

Mining restarts at Deflector

By: Esmarie Swanepoel     10th August 2018 Gold miner Doray Minerals has restarted mining operations at its Deflector underground gold/copper mine, in Western Australia. The miner on Friday said that mining was resumed after a thorough safety inspection of the area where a remote controlled loader had caught fire on Wednesday. 

MOD adjusts T3 feasibility

By: Esmarie Swanepoel     10th August 2018 Copper developer MOD Resources has incorporated a lager process plant for its T3 resource, in Botswana, into the project’s feasibility study, following a 44% increase in the project’s resource estimate. The feasibility study will now be based on a plant throughput rate of 3-million tonnes a... 

Watershed changes hands

By: Esmarie Swanepoel     10th August 2018 ASX-listed Vital Metals’ A$15-million sale of its Watershed tungsten project, in Queensland, has been completed. The company in May this year struck a deal with fellow-listed Tungsten Mining to divest of the asset. 

Arafura raising funds for Nolans

By: Esmarie Swanepoel     10th August 2018 Rare earths developer Arafura Resources will raise A$11.5-million through a one-for-four non-renounceable entitlement offer, to progress the development of its Nolans neodymium-praseodymium (NdPr) project, in the Northern Territory. The company said that some 143.9-million new shares will be... 

Alt eyes future production

By: Esmarie Swanepoel     10th August 2018 Mineral explorer Alt Resources on Friday told shareholders that the potential for near-term gold production existed within the tailings dam operations at the Bottle Creek project, in Western Australia. Preliminary testing on the Bottle Creek tailings dams have estimated an average grade of 0.16... 

Australian gold exploration progressing

By: Donald Makhafola     10th August 2018 Exploration and development company West Wits Mining’s (WWI’s) Australian projects, which show similarity to South Africa’s Witwatersrand (Wits) gold deposits, plans to leverage its geology team’s experience of South Africa’s Wits basin to rapidly understand the geology of its two Pilbara assets... 

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