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Esmarie Iannucci
Esmarie Iannucci is Creamer Media Senior Deputy Editor: Australasia for Mining Weekly.
Vulcan marks another environmental milestone in Germany
24th February 2023 ASX-listed Vulcan Energy Resources has marked another milestone at its Zero Carbon lithium project, in Germany, receiving a preliminary environmental approval (EIA) for drilling further development wells at its core Insheim license. The preliminary EIA approval found that the environmental... →
King hosts sit-down with critical minerals stakeholders
24th February 2023 Federal Resources Minister Madeleine King this week met with key industry and community groups to discuss how to best develop Australia’s critical minerals sector. King said the roundtables discussed how governments could help attract investment and support the development of critical minerals... →
Consortium revises offer for Origin
24th February 2023 Takeover target Origin Energy this week said it would continue discussions with a consortium after receiving a revised takeover proposal from the consortium. The company in November last year received a A$9 a share non-binding indicative takeover offer from the consortium, which includes... →
BHP prices $2.75bn in US markets
24th February 2023 Major BHP has successfully priced $2.75-billion of senior unsecured bonds in the US market. The offering comprises three tranches of bonds, the first tranche of which is $1-billion in three-year bonds priced at a fixed coupon of 4.875% maturing on February 27, 2026. →
Rio extends mine life at Diavik
24th February 2023 Diversified miner Rio Tinto has extended the mine-life at its Diavik diamond mine, in the Northwest Territories of Canada, announcing a $40-million investment in the first phase of underground mining below the existing A21 openpit. “Rio Tinto’s decision to support the underground development of... →
Catalyst strikes another gold deal in WA
24th February 2023 ASX-listed Catalyst Metals is continuing with its acquisitions campaign, announcing plans to acquire TSX-V listed Superior Gold. Catalyst and Superior Gold have agreed to merge via a Canadian Plan of Arrangement which has been unanimously recommended by the Superior board. Under the terms of the... →
Fortescue plans mining in Gabon in 2023
24th February 2023 Iron-ore major Fortescue has signed a mining convention for its Belinga iron-ore project, in Gabon, with mining planned to start in the second half of 2023. The mining convention governs all the legal, fiscal and regulatory regimes for the 4 500 km2 which comprises the Belinga project, including... →
Lucapa recovers 150ct diamond in Angola
23rd February 2023 A 150 ct white diamond has been recovered from ASX-listed Lucapa Diamond’s Lulo alluvial mine, in Angola. The company on Thursday said that the stone was the fifth of more than 100 ct recovered from Mining Block 28, and was the thirty-sixth stone of more than 100 ct to be recovered at Lulo. →
Nifty's funding talks fail to deliver
23rd February 2023 ASX-listed Cyprium Metals has been forced back to the drawing board after failing to secure funding to restart its Nifty copper project, in the Pilbara. The company has called off a previously announced share placement to raise A$35-million after its negotiations with international debt capital... →
Qld's hydrogen ambitions get watered
23rd February 2023 Queensland’s budding hydrogen industry has been given a boost with the approval of the A$983-million Fitzroy to Gladstone water pipeline. The Fitzroy to Gladstone Pipeline will deliver water security to the Gladstone region , where industry currently generates A$6-billion in gross regional... →
Closer alliance needed for critical minerals development - Minister
23rd February 2023 Government and industry would need to work together to bring forward a new wave of investment to advance Australia’s critical minerals sector, federal Resources Minister Madelein King said this week. Speaking in Perth, King noted that Australia’s critical minerals major project pipeline... →
Pacific Nickel close to Kolosori start
23rd February 2023 Junior Pacific Nickel is hoping to start direct shipping ore (DSO) production at its Kolosori nickel project, in the Solomon Islands, late in the third quarter of this year, subject to financing and contractor mobilisation. The company on Thursday told shareholders that following the completion... →
MinRes and Albemarle deepen partnership
23rd February 2023 US lithium major and ASX-listed Mineral Resources (MinRes) have announced plans to restructure the MARBL lithium joint venture (JV), in Australia, and for MinRes to invest in Albemarle conversion assets in China. Under the restructuring agreement of the MARBL JV, MinRes would increase its... →
King still believes in Chevron's CCS plans
23rd February 2023 Federal Resources Minister Madeleine King has backed US energy major Chevron’s carbon capture and storage (CCS) efforts at its Gorgon liquefied natural gas (LNG) project, in Western Australia. The Gorgon project off the coast of Western Australia is Australia’s only carbon capture use and... →
Cost brings down Regis' joy
23rd February 2023 While cost pressures impacted gold miner Regis Resources’ earnings in the half-year ended December, the miner reported an increase in gold sales and gold revenues. Regis has reported that gold sales for the half year ended December had reached 227 000 oz, up from the 217 000 oz in the previous... →
Minbos flags cost cuts in Angola
23rd February 2023 ASX-listed Minbos Resources has flagged a $10-million capital cost saving at its Cabinda phosphate project, in Angola, on the back of a simplified flowsheet. The company on Thursday reported that following field trials in December last year, which confirmed that phosphate rock from the Cácata... →
Red 5 to raise A$90m
23rd February 2023 Junior gold miner Red 5 has completed a fully underwritten A$90-million capital raise to support work at the newly commissioned King of the Hills (KOTH) mine, in Western Australia. The ASX-listed miner has completed a bookbuild for a fully underwritten A$80-million two-tranche share placement,... →
Cokal raises cash to advance BBM
23rd February 2023 ASX-listed Cokal will raise A$16-million to accelerate metallurgical coal production at its Bumi Barito Mineral (BBM) project in Indonesia, where first saleable coal was recently produced. Cokal on Thursday announced that it would place some 100-million new fully paid ordinary shares to... →
BHP trials green fuel in the Pilbara
23rd February 2023 Diversified miner BHP is trialling the use of Hydrotreated Vegetable Oil (HVO) at its Yandi iron-ore operations, in Western Australia, to help power mining equipment. Supplied through a collaboration with energy major bp, the renewable diesel made from HVO will be used in haul trucks and other... →
Commodity prices take a bite out of Rio profit
22nd February 2023 Diversified major Rio Tinto has seen its profit after tax fall by 41%, while underlying earnings before interest, taxes, depreciation and amortisation (Ebitda) decrease by 30% for the full year ended December, as commodity prices fell. Profit after tax reached $12.4-billion in the full year... →
Rio's Baowu JV to kick in in March
22nd February 2023 Mining major Rio Tinto’s joint venture (JV) with China’s Baowu Steel Group is expected to become effective in March this year, with Rio reporting that all primary environmental and Australian government approvals were now in place. The two companies last year reached a JV agreement over the... →
New plan in the works for Ranger rehabilitation
22nd February 2023 A revised mine closure plan for the Ranger uranium project, in the Northern Territory, is expected in September. ASX-listed Energy Resources of Australia (ERA) in May last year launched a feasibility study to assess a lower technical risk rehabilitation methodology and to further refine the... →
Allegiance calls in administrators
22nd February 2023 Coal miner Allegiance Coal has gone into voluntary administration on Wednesday, days after announcing plans to pivot back to metallurgical coal production at both of its North American operating mines in response to a dramatic fall in thermal coal prices. The administrators on Wednesday said... →
Alkane's expansion plans approved
22nd February 2023 The New South Wales government has approved the Tomingley gold extension project, allowing for the development of the Roswell and San Antonio deposits, south of the Tomingley operation. The approval allows ASX-listed Alkane Resources to undertake opencut mining at the Roswell and San Antonio... →
A$565m investment planned at Port Hedland
22nd February 2023 The federal government has announced a A$565-million investment to expand the export and import capacity at the port of Port Hedland, with Prime Minister Anthony Albanese saying it would help unlock trade and investment opportunities, local jobs and help drive Australia's Net Zero future. “In... →
Impairments hit St Barbara hard
22nd February 2023 Gold miner St Barbara has swung into a loss for the half year ended December, after reporting significant impairments on its Atlantic and Simberi operations. The miner on Wednesday reported an underlying loss of A$9-million for the half year under review, down from a profit of A$15-million in... →
OZ Minerals feeling the impact of a tough year
22nd February 2023 Takeover target OZ Minerals has seen net profits after tax for the 2022 financial year fall by 323.4% to A$207.3-million, while earnings before interest, taxes, depreciation and amortisation fell by 469.7% to A$692.7-million. “2022 saw the OZ Minerals team end the year on a strong note after a... →
Higher oil price drives Santos to new heights
22nd February 2023 Oil and gas major Santos has reported record underlying earnings for the full year ended December, with underlying profits increasing by 160% to $2.46-billion. Net profits after tax for the year were up by 221% to $2.1-billion while earnings before interest, tax, depreciation and amortisation... →
Perseus posts record profits
22nd February 2023 Dual listed gold miner Perseus Mining has reported a record A$203-million profit after tax for the half-year ended December, as gold production increased Revenue for the half year was reported at A$665-million a 22% increase on the previous corresponding period, while earnings before interest,... →
BHP expects labour costs to remain high
21st February 2023 Major BHP is expecting the tight labour market to be the biggest inflationary concern for 2023, VP market analysis and economics Dr Huw McKay said on Tuesday. “Six months ago, at the time of our full year results for the financial year 2022, we noted that while prices in general remained close... →
Leo Lithium eyeing early cashflows from Mali
21st February 2023 Lithium developer Leo Lithium is hoping for some early cash generation from its Goulamina lithium project, in Mali, with the mining and sale of direct shipping ore (DSO) ahead of the start of commissioning in the second quarter of 2024. Leo MD Simon Hay said on Tuesday that the company is... →
Magnis to supply US-produced AAM to Tesla
21st February 2023 Vertically integrated lithium-ion battery technology and materials company Magnis Energy Technologies has inked a binding offtake agreement with electric vehicle (EV) major Tesla. Under the agreement, Magnis will supply a minimum of 17 500 t/y of active anode materials (AAM) to Tesla from a... →
Anson flags hydro potential in Utah
21st February 2023 The Paradox lithium project, in Utah, has the potential to generate up to 7 MW of ‘green energy’ during brine extraction and transportation to the lithium extraction plant, through the inclusion of hydro energy plants. ASX-listed Anson Resources told shareholders that a hydro power study at its... →
Allkem adjusts Mt Cattlin expectations
21st February 2023 Lithium miner Allkem has lowered its production forecast at the Mt Cattlin mine, in Western Australia, for the 2023 financial year. The company in its December quarterly report flagged an annual production of 140 000 t to 150 000 t at the operation, but on Tuesday downgraded this to between 114... →
Costs rise and profits fall at Ramelius
21st February 2023 Gold miner Ramelius Resources has seen production and revenue fall in the half-year ended December. The miner reported that gold production in the six months under review reached 118 000 oz, down from the 132 605 oz produced in the first half of the 2022 financial year, with net profits after... →
Iluka takes an FID amid record revenue
21st February 2023 ASX-listed Iluka has taken a final investment decision (FID) on the A$480-million Balrandald critical minerals project, in New South Wales. The development is focussed on the rutile- and zircon-rich West Balranald deposit, which also contains material quantities of rare earth minerals. →
BHP looking to divest Qld coal mines
21st February 2023 Diversified miner BHP on Tuesday flagged plans to divest of the Daunia and Blackwater coal mines, in Queensland, under the BHP Mitsubishi Alliance (BMA). The miner said in its interim results that given its strategy to focus its coal portfolio on the highest quality metallurgical coals, the BMA... →
BHP's profits tumble
21st February 2023 Diversified major BHP has reported a 16% fall in revenue for the half-year ended December, while profits after tax fell by 32% on the previous corresponding period. Revenue from continuing operations declined from $30.5-billionto $25.7-billion while profits after tax was reported at... →
Sibanye-Stillwater makes a play for New Century
21st February 2023 Global metals miner Sibanye-Stillwater has launched a A$1.10 a share takeover offer for Australian zinc miner New Century Resources, in which it already holds a 19.9% interest. Sibanye-Stillwater on Tuesday expressed concern about the change in the strategic directions of New Century under its... →
Okapi raises cash
20th February 2023 Uranium explorer Okapi Resources has completed a A$5.1-million capital raise. The company placed some 34.2-million shares, at a price of 15c each to new and existing institutional and sophisticated investors, The first tranche of 17.4-million will be issued under the company’s existing... →
Lucapa secures gas source for Merlin
20th February 2023 Diamond miner Lucapa Diamond Company has struck a gas supply heads of agreement (HoA) with ASX-listed Armour Energy for its Merlin diamond project, in the Northern Territory. Armour Energy on Monday said that the HoA contemplates the sale of gas produced from Armour’s Glyde Field discovery, in... →
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