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Australasia News

Epiroc aims to halve carbon dioxide emissions in operations as part of 2030 goals

By: Schalk Burger     3rd July 2020 Mining and infrastructure equipment multinational Epiroc this week released its 2030 sustainability goals, which include halving carbon dioxide emissions from operations, transport and major suppliers, as well as from customers’ use of Epiroc equipment. "These are challenging targets, but we will... 

Reliable connectivity essential for effective IoT

By: Schalk Burger     3rd July 2020 A global study conducted by satellite communications multinational Inmarsat found that only 15% of mining organisations consistently have access to reliable connectivity for their Internet of Things- (IoT-) enabled projects. Inmarsat’s research programme into IoT trends 'The Rise of IoT in... 

Moon metals discovery aids development of lunar formation theories

By: Rebecca Campbell     3rd July 2020 Scientists using data from the US National Aeronautics and Space Administration’s (Nasa’s) Lunar Reconnaissance Orbiter (LRO) spacecraft have discovered evidence that the Moon might, underneath its surface, be richer in metals (such as iron and titanium) than had previously been believed. Nasa is... 

Moon metals discovery aids development of lunar formation theories

Reopening of economies boosting metals prices 

By: Marleny Arnoldi     3rd July 2020 Since lockdown measures have started to ease around the world to contain Covid-19, ratings and research agency Standard & Poor’s Global (S&P Global) says the reopening of economies, combined with monetary stimulus by banks and governments, has allowed industrial metal prices to rise. However,... 

Reopening of economies boosting metals prices

Resgen extends sunset date for Boikarabelo funding agreement

By: Tasneem Bulbulia     3rd July 2020 Dual-listed Resource Generation (Resgen) has recorded changes to the common terms agreement for its mine funding package, in noted in its market update. On December 5, 2019, the company announced that, along with its majority owned subsidiary, Ledjadja Coal, it had executed principal binding... 

Turquoise Hill to defer any interim funding talks on Mongolian mine with Rio Tinto

By: Reuters     3rd July 2020 Turquoise Hill Resources Ltd said on Thursday it has decided to defer further discussions on any interim funding arrangements with Rio Tinto for its Mongolian copper project. The Mongolian state owns 34% in the Oyu Tolgoi copper project, while Rio's majority-owned Turquoise Hill has a 66% stake. 

Death toll rises above 160 in Myanmar jade mine collapse

By: Reuters     3rd July 2020 The death toll in a landslide at a jade mine in northern Myanmar has risen above 160, with more feared dead, authorities said on Friday, as search efforts continued for a second day. A heap of mining waste collapsed into a lake on Thursday and buried many workers under mud and water. 

Hawkstone increases Utah landholding

By: Esmarie Iannucci     3rd July 2020 The share price of ASX-listed Hawkstone Mining settled 20% higher on Friday after the company announced that its landholding at the Western Desert gold/copper project, in Western Utah, had increased by 950%. The company on Friday told shareholders that since acquiring the project in March of... 

Australian gas prices among lowest in Asia

3rd July 2020 New data by the International Gas Union (IGU) has shown that Australia’s average natural gas prices remained among the lowest in Asia. In its 2020 Wholesale Gas Price Survey, IGU showed that average wholesale gas price in Australia last year was around 40% less than the average wholesale price... 

S Australia establishes mining liaison service

By: Esmarie Iannucci     3rd July 2020 The South Australian government has announced the formation of a new resources information service specifically designed to assist landowners, farmers and community members in their dealings with the resources sector. From July 1, the Rural Business Support (RBS) landowner information service... 

WA investing further in core library

By: Esmarie Iannucci     3rd July 2020 The Western Australian government has announced A$7-million in funding to expand the capacity of the Joe Lord core library, in Kalgoorlie. The facility stores core samples that contain valuable geoscientific information for exploration companies and others seeking new petroleum and mineral... 

Ora Banda raises cash for Davyhurst restart

By: Esmarie Iannucci     3rd July 2020 ASX-listed Ora Banda mining has launched a A$55-million capital raise to underpin the restart activities at its Davyhurst gold project, in Western Australia. The equity raising will consist of an institutional share placement to raise an initial A$40-million, and a one-for-nine accelerated... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

By: Esmarie Iannucci     3rd July 2020 Mining major Rio Tinto on Friday confirmed a cost blow-out of between $1.3-billion and $1.8-billion at the Oyu Tolgoi copper project, in Mongolia, compared with the original $5.3-billion capital estimates. Meanwhile, first sustainable production has been delayed by between 21 and 29 months... 

Cost blow-outs and delays confirmed at Oyu Tolgoi

Covid kills 13 mineworkers, no foreigners back at work  

By: Martin Creamer     2nd July 2020 Thirteen mineworkers have now succumbed to the coronavirus, Minerals Council South Africa public affairs and transformation senior executive Tebello Chabana said on Thursday. Of the 13 who have died, seven were employed in platinum mining in North West province, which has the most cases at 1 413... 

Covid kills 13 mineworkers, no foreigners back at work
Minerals Council South Africa Covid update covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Mining will need long-term strategies to survive new normal 

By: Simone Liedtke     2nd July 2020 For the mining industry to be successful post-Covid-19, the industry will require long-term strategies to deal with its challenges, which includes the pandemic. In a webinar hosted by the London Bullion Market Association (LBMA) on July 2, investment management firm Orion Resource Partners... 

Mining will need long-term strategies to survive new normal

Hydrogen-powered aviation preparing for takeoff – study 

By: Martin Creamer     2nd July 2020 Hydrogen as an energy source will play a key role in transforming aviation into a zero-carbon/climate-neutral system over the next few decades, an independent study states in estimating that the first short-range hydrogen-powered demonstrator could be developed by 2028 if sufficient investments... 

Hydrogen-powered aviation preparing for takeoff – study
Strong steps being taken to clean up the skies by using hydrogen to power aircraft.

At least 113 killed as Myanmar jade mine collapse buries workers

By: Reuters     2nd July 2020 A landslide at a jade mine in northern Myanmar killed at least 113 people, with more feared dead, authorities said on Thursday, after a heap of mining waste collapsed into a lake, triggering a wave of mud and water that buried many workers. The miners were collecting stones in the jade-rich... 

Tritton beats full-year guidance

By: Esmarie Iannucci     2nd July 2020 The Tritton copper project, in New South Wales, has beaten production expectations for the 2020 financial year, ASX-listed Aeris Resources said on Thursday. The company noted that production for the full year reached 25 041 t, which was some 2% above the guidance of between 23 500 t and 24 500... 

More offtake secured at Coburn

By: Esmarie Iannucci     2nd July 2020 Mineral sands developer Strandline Resources has secured a binding offtake agreement for the zircon product from its Coburn project, in Western Australia. The company on Thursday said that the offtake agreement with Chilches Materials covers some 7 000 t/y of premium zircon product for the first... 

Mount Mackenzie optimised - REZ

By: Esmarie Iannucci     2nd July 2020 Pit optimisation and higher gold prices have improved the economics of the Mount Mackenzie gold and silver project, in Queensland. ASX-listed Resources and Energy reported this week that on the back of an updated mineral resource estimate, and accounting for a higher gold price, the optimisation... 

Petroleum exploration approved in S Australia

By: Esmarie Iannucci     2nd July 2020 The South Australian government this week announced the successful bids for five new petroleum exploration licenses. The five licenses have a guaranteed work programme valued at a combined A$58.85-million over the next five years, Energy and Mining Minister Dan von Holst Pellekaan said. 

Equatorial supports Salt Lake raising

By: Esmarie Iannucci     2nd July 2020 Potash developer Salt Lake Potash will raise A$15-million through the placement of unsecured zero-coupon convertible notes to fund the continued development of its Lake Way project, in Western Australia. The ASX-listed miner on Thursday said that it had received firm commitments from corporate... 

MACA wins Atlas contract

By: Esmarie Iannucci     2nd July 2020 Contract miner MACA has been awarded a mining contract at Atlas Iron’s Corunna Downs mine, in the Pilbara. The mining services contract will consist of openpit mining services, including drilling and blasting, and loading and hauling, and would generate revenues of A$230-million over the... 

Rio adds to board

By: Esmarie Iannucci     2nd July 2020 Diversified major Rio Tinto has added a strategy and development role to its executive committee, with Peter Toth appointed as a group executive. The new role will be focused on leading Rio’s transformation efforts around portfolio, climate change, and closure, working in partnership with the... 

Metals X looking for copper buyer

By: Esmarie Iannucci     2nd July 2020 ASX-listed Metals X has announced plans to divest of its entire copper asset portfolio, including the Nifty and Maroochydore copper projects, and the Paterson exploration project. Metals X on Thursday said that issues with shareholder APAC Resources Strategic Holdings, which demanded the removal... 

Metals X looking for copper buyer

Commodity freighters are shrugging off Covid-19. For now

By: Bloomberg     1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

BHP scales back Cerro Colorado copper mine

By: Mariaan Webb     1st July 2020 Global miner BHP is scaling back its operations at Cerro Colorado, in Chile, with resizing measures to be implemented over the next four months. These measures will result in a reduced headcount and the company has started discussions with employees and contractors. The adjusted mine plan will... 

BHP scales back Cerro Colorado copper mine
Photo by Flicker/Gabri Solera
Cerro Colorado

ELB’s delisting-linked offers send up share price

By: Martin Creamer     1st July 2020 The board of directors of ELB on Wednesday made delisting-linked offer to its shareholders, which saw its share price rise. By late afternoon, the JSE-listed company’s price had risen by 54.17% to R1.85 a share. The capital equipment and engineering solutions group proposed a transaction to... 

ELB’s delisting-linked offers send up share price
Photo by Creamer Media
Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.

Hydrogen to fuel giant mining trucks in green shift by Anglo 

By: Bloomberg     1st July 2020 Anglo American is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year at Anglo American... 

Bullion platinum investment at an all-time high, says WPIC

By: Marleny Arnoldi     1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... 

After taking out $1 800, gold investors focus on Fed’s next step

By: Bloomberg     1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... 

After taking out $1 800, gold investors focus on Fed’s next step

A miner blew up ancient human history. Now an industry may pay

By: Bloomberg     1st July 2020 Scraping away delicately at the reddish-brown earth of northwestern Australia’s vast Pilbara region, a team of archaeologists uncovered a record of life dating back more 40 000 years. Buried in natural shelters at the base of a cliff were thousands of stone and wooden tools, the sharpened fibula... 

A miner blew up ancient human history. Now an industry may pay
Rio Tinto CEO Jean-Sebastien Jacques.

Aeris completes Cracow buy

By: Esmarie Iannucci     1st July 2020 ASX-listed Aeris Resources has completed the acquisition of the Cracow gold mine, in Queensland, from gold miner Evolution Mining. The two companies in June struck a A$125-million agreement for Aeris to acquire the gold mine, with the consideration consisting of a A$60-million cash payment on... 

Mardie DFS proves positve for BCI

By: Esmarie Iannucci     1st July 2020 A definitive feasibility study (DFS) on the Mardie salt and potash project, in Western Australia, has confirmed that the project could become a globally significant Tier 1 project. The DFS, released by owner BCI Minerals on Wednesday, noted that the project could produce 4.4-million tonnes a... 

Qld manslaughter legislation takes effect

By: Esmarie Iannucci     1st July 2020 New laws will come into effect in Queensland on Wednesday, with executives facing up to 20 years’ jail if the state’s resources sector workers die because of their criminal negligence, Mines Minister Dr Anthony Lynham said. He noted that the new legislation would better protecting the state’s 66... 

Partial restart planned at Browns Range

By: Esmarie Iannucci     1st July 2020 Rare earths producer Northern Minerals on Wednesday announced that it would partially restart operations at its Browns Range pilot plant, in Western Australia, while also restarting exploration activities across its tenements. The company in March this year temporarily suspended operations at... 

Prairie armed for legal battle

By: Esmarie Iannucci     1st July 2020 Coal developer Prairie Mining has secured A$18-million in litigation funding with LCM Funding UK to pursue damages claims in a dispute with the Polish government. Prairie in February last year served a notice of dispute on the Polish government, requesting that the government formally engage... 

Oil Search cuts jobs and costs

By: Esmarie Iannucci     1st July 2020 ASX-listed Oil Search on Wednesday announced structural changes in the wake of Covid-19 and the falling oil prices, which will result in a 34% decline in staff numbers. The company told shareholders that full time employees will be reduced from 1 649 as of March, to 1 222, with a further 137... 

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