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Australasia News

Newfield enters into sales agreement with DelGatto Diamond Finance Fund

By: Tasneem Bulbulia     Updated 6 hours ago ASX-listed Newfield Resources has entered into an asset purchase and sales agreement with DelGatto Diamond Finance Fund (DDFF) for an initial amount of $1.2-million (before costs), payable within 12 months from future diamond sales, to assist with the continued development of the company’s Tongo... 

R4-trillion needed for South Africa’s hydrogen economy, PIC declares 

By: Martin Creamer     Updated 6 hours ago South Africa’s State-owned Public Investment Corporation (PIC) stated on Monday that more than R4.3-trillion is required for the development of the hydrogen economy, which it declared positive for people, planet, and client portfolios. The hydrogen investment strategy of the PIC, which has... 

Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications.
Photo by Siemens
Hydrogen promises to be the next frontier in clean energy technology due to its extensive value chain applications.

TECH feasibility proves positive for QPM

By: Esmarie Iannucci     28th November 2022 The advanced feasibility study into the Townsville Energy Chemicals Hub (TECH) base metals project, in Queensland, has confirmed the Stage 1 economics, prompting owner Queensland Pacific Metals (QPM) to start formal debt funding negotiations with potential lenders. The Stage 1 TECH project is... 

Australian gold production falls - Surbiton

28th November 2022 Australian gold production declined by 7 t in the third quarter of 2022, new data from Melbourne-based gold mining consultants Surbiton Associates found. Output for the September 2022 quarter totalled 76 t, down nine percent from the high of 83 t produced in the June 2022 quarter. It brings... 

Resolute receives final payment for Bibiani mine sale

By: Tasneem Bulbulia     28th November 2022 Dual-listed Resolute Mining has received the third and final tranche of $10-million from Canadian miner Asante Gold for the sale of the Bibiani gold mine, in Ghana. The two companies are in commercial discussions regarding payment of the environmental bond and interest. 

Warrego continues to throw support behind Beach transaction

By: Esmarie Iannucci     28th November 2022 The directors of takeover target Warrego Energy on Monday confirmed that they would accept the takeover bid from fellow listed Beach Energy for their own shares in the company. Beach and Warrego earlier this month entered into a scheme implementation deed, under which Beach is offering 20c a... 

Critical Resources raises cash for Ontario exploration

By: Esmarie Iannucci     28th November 2022 ASX-listed Critical Resources will raise A$6.7-million under the flow-through shares provision under the Canadian tax law to advance drilling at the Mavis Lake project, in Ontario. The company has received firm commitments for the placement of more than 84.3-million shares, at a price of C$0.71,... 

Copper mining grows at last but now smelters can't keep up

By: Bloomberg     28th November 2022 Copper miners are boosting output at last after several years of anemic performance. But it may not be enough to meaningfully lift stockpiles from historically low levels, keeping supplies tight in a market critical to the energy transition. The reason is a bottleneck in capacity at the world’s... 

Group 6 Metals raises cash to fund Dolphin production

By: Esmarie Iannucci     28th November 2022 Tungsten developer Group 6 Metals will raise A$20-million through a share placement o bring its Dolphin tungsten mine, in Tasmania, into production. The ASX-listed company has received binding commitments for the issue of more than 117.6-million shares, at a price of 17c each, representing a... 

Pilbara and Calix solidify JV ambitions

By: Esmarie Iannucci     28th November 2022 Lithium miner Pilbara Minerals and fellow listed Calix have executed a formal joint venture (JV) agreement for a decarbonised lithium refining project in the Pilbara. The formal JV agreement followed on from an earlier memorandum of understanding (MoU) to support the development of a Mid-Stream... 

WA provides funds for miner health and safety initiatives

By: Esmarie Iannucci     28th November 2022 The Western Australian government has committed A$1.2-million in funding to further strengthen its commitment to the safety of Western Australian mine workers. Mines and Petroleum Minister Bill Johnston said that the new funding packages underline the government’s commitment to eliminate... 

Woodside answers Europe's energy call

By: Esmarie Iannucci     28th November 2022 Oil and gas major Woodside has expanded its liquified natural gas (LNG) trade to include Europe, with the ASX-listed company delivering gas from the North West Shelf to Uniper Global Commodities SE in Rotterdam. The cargo of approximately 75 000 t of LNG, or 100-million cubic meters of natural... 

BHP working towards GHG targets at Olympic Dam

By: Esmarie Iannucci     28th November 2022 Mining major BHP has unveiled a fully electric Jumbo at its Olympic Dam operations, in South Australia, to support the company’s target to reduce operational greenhouse gas (GHG) emissions, including by minimising reliance on diesel. The 28.7 t, 14.5-m long battery-electric Epiroc Boomer M2... 

Rio creates Juukan Gorge legacy foundation

By: Esmarie Iannucci     28th November 2022 Mining major Rio Tinto has joined forces with the Puutu Kunti Kurrama and Pinikura (PKKP) Aboriginal Corporation to create the Juukan Gorge Legacy Foundation after signing a remedy agreement regarding the tragic destruction of two ancient rock shelters at Juukan Gorge in the Pilbara region of... 

Image shows Rio Tinto logo on building

South Africa’s mining market is dynamic and fast-moving, Siemens Large Drives finds  

By: Martin Creamer     25th November 2022 South Africa is a super dynamic and super fast-moving market, says Siemens Large Drives global solutions head Oliver Beck, who has just completed a week of discussions with customers to highlight sustainability solutions for mining. From his perspective, South African mining economy is at the... 

Siemens Large Drives global solutions head Oliver Beck.
Siemens Large Drives' Oliver Beck, Tim Walwyn talk to Mining Weekly's Martin Creamer. Video: Nicholas Boyd, Shadwyn Dickinson. Video Editing: Darlene Creamer. Pictures: Donna Slater.

Australia court blocks giant coal mine on human rights grounds

By: Bloomberg     25th November 2022 An Australian court has blocked a proposal for a huge coal mine, saying the emissions produced by the fuel would threaten human rights. The Galilee Coal Project would add 1.58-billion tons of carbon dioxide to the atmosphere over its lifespan -- more than triple Australia’s annual domestic... 

International Graphite opens pilot processing plant in Western Australia

By: Reuters     25th November 2022 Australia's International Graphite opened a test graphite processing plant in Western Australia on Friday, as the state moves to add value in the battery processing chain. It comes as Australia seeks to develop its critical minerals processing industry, with Treasurer Jim Chalmers on Friday... 

Austral sells Pinguino in Argentina

By: Esmarie Iannucci     25th November 2022 ASX-listed Australia Gold has struck a deal with fellow-listed E2 Metals to divest of its Pinguino project, in Argentina. Under the terms of the agreement, Australia will receive $5-million in cash, of which $2.5-million will be paid on closing of the transaction and the remaining balance in... 

Bankers pour cold water on red hot coal

By: Reuters     25th November 2022  It's the best of times, it's the worst of times. At least when it comes to mining coal. After years of decline, demand for the polluting fossil fuel has surged this year as Europe scrambles to replace Russian gas, and coal miners are making money hand over fist. With coal prices hitting record... 

Workers at BHP's Escondida mine in Chile reject offer, threaten strike

By: Reuters     25th November 2022 Some 2 000 workers at Chile's Escondida mine, the world's largest copper deposit, have turned down BHP's offer to settle a labor dispute and could stop work on November 28 and 30 if their demands are not met, their union said on Thursday. BHP announced earlier this week that it had reached a... 

Musgrave raises cash for Cue

By: Esmarie Iannucci     25th November 2022 Junior Musgrave Minerals will raise A$10-million to fund resource growth at its Cue gold project, in Western Australia. The ASX-listed company on Friday said it had received firm commitments for the placement of 40-million fully paid ordinary shares in the company, at an issue price of 20c each,... 

Higher costs for Tumas and a new plan for Mulga Rock - Deep Yellow

By: Esmarie Iannucci     25th November 2022 Uranium hopeful Deep Yellow has flagged a cost-blow out at its Tumas project, in Namibia, where a definitive feasibility study (DFS) is currently under internal review. The company told shareholders on Friday that the DFS, which had been completed, had indicated that the project remained... 

Peninsula completes A$32m placement

By: Esmarie Iannucci     25th November 2022 Uranium developer Peninsula Energy has completed the institutional placement of its planned A$35-million capital raise, raising an initial A$32-million. The company earlier this week announced a final investment decision (FID) on its Lance uranium project, in the US, announcing a A$35-million... 

Qld on critical minerals trail in the UK

By: Esmarie Iannucci     25th November 2022 The Queensland government is heading to the UK and Europe to promote opportunities in critical minerals to global investors. “Queensland is blessed with some of the best deposits of critical minerals in the world. We want investors across the globe to know the huge opportunities in our... 

Rio acknowledges federal heritage plans

By: Esmarie Iannucci     25th November 2022 Diversified major Rio Tinto has taken note of the federal government’s efforts to co-design stronger laws to give better protection to Aboriginal cultural heritage sites, noting that the company had been working hard to restore its relationship with Traditional Owners. “Since the tragic events... 

Miners welcome Australia's critical mineral support

By: Esmarie Iannucci     25th November 2022 Federal Resources Minister Madeleine King has outlined the Commonwealth government’s measures to assist in developing the critical minerals industry in the country, among which was the development of a new Critical Minerals Strategy. Speaking at the Australian Critical Minerals Summit, in... 

Chalmers warns of narrow critical mineral supply chains

By: Esmarie Iannucci     25th November 2022 Federal Treasurer Jim Chalmers has warned of the dangers of a constrained supply chain for the critical minerals sector, warning that the sector could become hostage to geopolitical competition and conflicts. Speaking at the Australian Critical Minerals Summit, in Sydney, Chalmers said that as... 

Image shows an aluminium refinery

WGC members paid $57.1bn to host economies in 2021

By: Donna Slater     24th November 2022 World Gold Council (WGC) member companies directly contributed $57.1-billion to host economies in 2021, says the WGC’s ‘Social and Economic Contribution of Gold Mining’ report that was released this month. Of the total, $35.4-billion (62%) of payments were made to in-country suppliers,... 

Platinum’s hydrogen economy role is just transition enabler, Mapungubwe highlights 

By: Martin Creamer     24th November 2022 The strategic role of platinum group metals (PGMs) in the creation of a hydrogen economy is the key supporting element of the Just Energy Transition Investment Plan (JET-IP) unveiled by President Cyril Ramaphosa at the 2022 United Nations Climate Change Conference, Mapungubwe Institute for... 

Mapungubwe Institute for Strategic Reflection researcher Dr Nqobile Xaba.
Mapungubwe Institute for Strategic Reflection researcher Dr Nqobile Xaba.

BHP sees 2-3 years of elevated costs, near-term copper oversupply

By: Reuters     24th November 2022  BHP Group, the world's largest listed miner, is bracing for rising costs into the middle of the decade, adding to headwinds facing the copper market which is facing short-term oversupply, an executive said on Wednesday. "We've seen some substantial cost inflation. We don't think we've seen the... 

BHP sees 2-3 years of elevated costs, near-term copper oversupply

Higher copper treatment charges needed to ensure copper supply – smelters

By: Reuters     24th November 2022 Smelter executives on Thursday called on miners to pay higher treatment and refining charges (TC/RCs) to incentivise them to expand capacity and ensure long-term copper supply to the market. Copper demand from the renewable energy and electric vehicles sectors is expected to rise sharply amid the... 

Higher copper treatment charges needed to ensure copper supply – smelters

Thor inks farm-in in the NT

By: Esmarie Iannucci     24th November 2022 Triple-listed Thor Mining has struck an A$8-million farm-in agreement over its Molyhil polymetallic project, in the Northern Territory. The company on Thursday reported that it had signed a heads of agreement (HoA) with ASX-listed Investigator Resources to fund an accelerated exploration... 

Kingston adds to Mineral Hill resource

By: Esmarie Iannucci     24th November 2022 Junior Kingston Resources has announced a 114% increase in the mineral resource estimate at the Southern ore zone (SOZ) at its Mineral Hill gold/copper mine, in New South Wales. The resource estimate for the SOZ now stands at 3.8-million tonnes, a 1.29 g/t gold, 19.2 g/t silver, 0.9% copper,... 

Downstream processing could add A$40bn to Aus economy - PwC

By: Esmarie Iannucci     24th November 2022 Modelling undertaken by advisory firm PwC has shown that value-added industries in the critical minerals sector could contribute more than A$40-billion to the Australian economy by 2025. The value-added industry, which includes processing, refining and manufacturing, could also deliver as many... 

OreCorp working on Nyanzaga financing

By: Esmarie Iannucci     24th November 2022 Gold developer OreCorp has received indicative debt funding proposals for the development and construction of its Nyanzaga gold project, in Tanzania. The ASX-listed company on Thursday said that discussions with major European, African and Tanzanian banks have delivered non-binding expressions... 

Woodside commits another A$65m to community support

By: Esmarie Iannucci     24th November 2022 Oil and gas major Woodside has committed up to A$65-million in funding over the next five years to support community development in regional Western Australia. CEO Meg O’Neill said the social contribution would include new opportunities as well as extending current partnerships in the... 

NAL restart gathers pace

By: Esmarie Iannucci     24th November 2022 Restart activities at the North American Lithium (NAL) operation, in Quebec, is gathering steam, with ASX-listed Sayona Mining nearing completion with both its procurement and permitting processes. “NAL is progressing rapidly towards next year’s restart, and our recent move to expand NAL’s... 

Bill passes to give ERA more time at Ranger

By: Esmarie Iannucci     24th November 2022 ASX-listed Energy Resources of Australia (ERA) has welcomed the passing of the Atomic Energy Act Amendments Bill, which would allow the company to extend its existing authority of the Ranger uranium mine, in the Northern Territory, beyond the current 2026 deadline. The federal government in... 

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