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Australasia News

Amani takes an option on DRC project

By: Esmarie Iannucci     21st May 2019 ASX-listed Amani Gold has signed a memorandum of understanding (MoU) over a package of ten gold tenements in the Democratic Republic of Congo (DRC), known as the Gada gold project. The Gada project is located some 80 km from Amani’s own Giro project, with the company telling shareholders on... 

FYI nearing completion of pilot plant

By: Esmarie Iannucci     21st May 2019 The share price of junior FYI Resources was bumped by more than 5% on Tuesday on news that the company high purity alumina (HPA) plant, in Western Australia, was nearing first production. “The pilot plant is another key element for our disciplined HPA strategy that will ensure the Cadoux kaolin... 

WPG administrators weigh more offers

By: Esmarie Iannucci     21st May 2019 The administrators of embattled WPG Resources have adjourned a second meeting of the company’s creditors to consider two additional takeover offers. WPG went into administration in 2018 following a default on a A$20-million debt facility. 

Oil climbs as Opec signal on output curbs overshadows trade risk

By: Bloomberg     21st May 2019 Oil rose for a second day on signs Opec and its allies will extend production cuts beyond June, while a steadily deteriorating US-China trade relationship kept prices from pushing higher. Futures in New York extended their gains after closing up 0.5% on Monday. Saudi Energy Minister Khalid... 

Researchers see manganese helping fuel cells down cost curve 

By: Martin Creamer     20th May 2019 A new manganese-containing material may contribute to platinum-using hydrogen fuel cells being driven down the cost curve. The new material, made from manganese hydride, is being earmarked for use in molecular sieves that work with the fuel cells in hydrogen fuelled systems that generate... 

Researchers see manganese helping fuel cells down cost curve
Hydrogen fuel cell cars use hydrogen and oxygen to generate electricity with the help of platinum.

Controversial Australia coal mine boosted after shock vote

By: Bloomberg     20th May 2019 A surprise election victory for Australia’s pro-coal ruling Coalition is ratcheting up pressure on the Queensland state government to approve development in one of the biggest untapped reserves of the fossil fuel. Adani Group’s Carmichael coal project is located in Australia’s huge Galilee... 

Syndicated pulls the trigger at Newfield

By: Esmarie Iannucci     20th May 2019 Junior Syndicated Metals has exercised its options for a farm-in agreement with fellow-listed Newfield Resources over the Newfield gold project, in Western Australia. Syndicated has paid Newfield A$25 000 in cash and has issued the company with 30-million shares, and ten-million options in... 

King of the Hills resource grows beyond 3Moz

By: Esmarie Iannucci     20th May 2019 The King of the Hills gold project, in Western Australia, is now estimated to host some 3.1-million ounces of contained gold, ASX-listed Red 5 told shareholders. The company on Monday reported a bulk mining mineral resource estimate of 66-million tonnes, grading 1.5 g/t gold for King of the... 

Matsa signs ore deal with AngloGold Ashanti

By: Esmarie Iannucci     20th May 2019 ASX-listed Matsa Resources has inked an ore purchase agreement with gold miner AngloGold Ashanti for the ore produced from the Red October gold mine, in Western Australia. Ore from the Red October mine will be proceed at AngloGold Ashanti’s 3.8-million tonne a year mill at the Sunrise Dam... 

Cobalt 27 completes Highlands Pacific acquisition

By: Creamer Media Reporter      20th May 2019 TSX-V-listed Cobalt 27 has completed the acquisition of Highlands Pacific, bolstering the company's prospects a growing diversified battery metals streaming and royalty company. As a result of the acquisition, Cobalt 27 now holds an 8.56% joint venture interest in the producing Ramu mine, a... 

Lynas plans rare earth plant in Texas

By: Esmarie Iannucci     20th May 2019 Rare earths miner Lynas has signed a memorandum of understanding (MoU) with US-based Blue Line to develop rare earth separation capacity in the US. Under an MoU, the two companies would exclusively work together on the proposed development of a rare earth separation facility at the Blue Line site... 

Miners welcome Australia election results as Morrison takes victory

By: Esmarie Iannucci     20th May 2019 The Australian resources sector has welcomed the results from the May 18 federal election, which was won by a Liberal-led Coalition with Scott Morrison at the helm. “The Coalition government’s strategic economic reform agenda to keep taxes low, in conjunction with responsible 2019/20 Budget... 

Miners welcome Australia election results as Morrison takes victory
Photo by Bloomberg
Australian PM Scott Morrison

Vale warns Brazil prosecutors another dam at risk of collapse

By: Reuters     17th May 2019 Brazilian iron ore miner Vale SA told prosecutors in the state of Minas Gerais that a dam is at risk of rupturing at its Gongo Soco mine, about 40 miles from where its Brumadinho dam collapsed, killing more than 230 people. According to a document published on Thursday, prosecutors said Vale is... 

New numbers impart shine to BCI’s Mardie SoP and salt project

By: Esmarie Iannucci     17th May 2019 An optimisation of the prefeasibility study (PFS) for the Mardie salt and potash project, in Western Australia, has improved the project economics, with a definitive feasibility study (DFS) now targeted for late 2019. ASX-listed BCI Minerals on Friday reported that the optimised PFS estimated a... 

Hexagon taps US as preferred location for graphite plant

By: Esmarie Iannucci     17th May 2019 A scoping study by ASX-listed Hexagon Resources has determined that the preferred location for a stand-alone graphite purification and processing plant (GPPP) to be Washington State, in the US. The scoping study considered sites in both the US and in Western Australia, with the US site winning... 

AuStar rethinking Centennial plans

By: Esmarie Iannucci     17th May 2019 Junior AuStar Gold has paused its takeover plans for embattled Centennial Mining, following discussions with that company’s administrators. AuStar in May revealed its intentions to make a takeover offer for Centennial, which holds the A1 gold mine, after the Centennial’s administrators revealed... 

Metminco enacts Andes merger

By: Esmarie Iannucci     17th May 2019 ASX-listed Metminco has signed a binding bid implementation agreement with Colombia-focused Andes Resources to enact a merger agreement reached in March this year. Under the terms of the off-market agreement Metminco would issue 25 of its own shares for every Andes share held, with the merger to... 

St Barbara completes A$355m raising for Atlantic Gold buy

By: Esmarie Iannucci     17th May 2019 ASX-listed gold miner St Barbara has completed A$355-million institutional entitlement offer to partly fund the acquisition of Canada’s Atlantic Gold Corporation. The 1-for-3.1 pro rata accelerated non-renounceable entitlement offer, which was priced at A$2.89 a share, formed the first stage of... 

St Barbara completes A$355m raising for Atlantic Gold buy

Pantoro raises A$43m to fund Norseman deal

By: Esmarie Iannucci     17th May 2019 Gold miner Pantoro has completed a A$43-million fully underwritten share placement to partially fund the acquisition and joint venture of the Central Norseman gold project, in Western Australia. Pantoro placed more than 215.18-million shares, at 20c each, to sophisticated and professional... 

Riley restart planned for year-end

By: Esmarie Iannucci     16th May 2019 ASX-listed Venture Minerals is looking to restart iron-ore production at its Riley direct shipping ore (DSO) project, in Tasmania, by the fourth quarter of this year. Venture on Thursday reported the launch of an updated mining study to allow for a decision to restart operations.  

Theta gold project proves viable

By: Esmarie Iannucci     16th May 2019 A feasibility study into the Theta gold project, in South Africa, has confirmed the project’s economics and commercial viability, ASX-listed Theta Gold Mines reported on Thursday. The feasibility study has estimated a total capital cost of $34.3-million over the five-year mine life, which... 

Newmont signs up for Tobruk exploration

By: Esmarie Iannucci     16th May 2019 The share price of ASX-listed Prodigy Gold increased by nearly 11% on Thursday on the announcement of an exploration farm-in and joint venture (JV) agreement with gold major Newmont. Under the terms of the agreement, Newmont would make a A$1.5-million non-refundable payment on the signing of the... 

Qld miners worry about royalty rates

By: Esmarie Iannucci     16th May 2019 Queensland’s royalty rates have emerged as the greatest area of concern for Queensland miners in a new survey by the Queensland Resources Council (QRC). The QRC survey found an overwhelming majority of company CEOs believe their projects and the creation of thousands of jobs from those projects... 

Lulo delivers another stellar diamond

By: Esmarie Iannucci     16th May 2019 A 130 ct gem quality diamond has been recovered from the Lulo diamond project, in Angola, owner Lucapa Diamond Company reported on Thursday. The diamond is the thirteenth stone of more than 100 ct to be recovered to date, and the second so far in 2019, Lucapa told shareholders. 

Galaxy makes major investment in Alliance

By: Esmarie Iannucci     16th May 2019 Lithium miner Alliance Mineral Assets has announced plans to raise A$32.5-million through a subscription agreement with fellow-listed Galaxy Resources and with Weier Antriebe und Energietechnik GmBH, a subsidiary of Jiangxi Special Electric Motor Company. The share placement will consist of... 

Azure regains full ownership of Alacrán from Teck

By: Esmarie Iannucci     16th May 2019 ASX-listed Azure Minerals has struck a deal with Canada’s Teck Resources to consolidate ownership of the Alacrán silver/gold/copper project, in Mexico. Azure in 2016 gained full ownership of the Alacrán project from Teck under a 2014 agreement that required the company to sole fund $5-million of... 

Santos buys into PNG’s P’nyang field

By: Esmarie Iannucci     16th May 2019 Australian oil and gas major Santos has struck a $187-million deal to acquire a 14.3% interest in the petroleum retention licence 3, which contains the P’nyang natural gas field in Papua New Guinea (PNG). The P’nyang gas field forms part of the plans to expand the PNG liquefied natural gas project. 

Santos buys into PNG’s P’nyang field

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit 

By: Martin Creamer     15th May 2019 Platinum group metals and chrome mining company Tharisa Minerals has not allowed lower half-year production, profit and cash flow to get in the way of declaring an interim dividend. The Johannesburg- and London-listed company declared a $0.005-a-share payout on earnings a share of $0.4c, in... 

Tharisa sticks to dividend guns as mine reconfiguration lowers output, profit
Photo by Creamer Media
Tharisa Minerals CEO Phoevos Pouroulis.

Greenland optimises Kvanefjeld economics

By: Esmarie Iannucci     15th May 2019 An optimised feasibility study into the Kvanefjeld rare earths project, in Greenland, has estimated a $31-million increase in annual revenue, at current rare-earth prices. ASX-listed Greenland Minerals on Wednesday reported that the optimised study had estimated an 8% increase in rare-earth... 

Greenland optimises Kvanefjeld economics

Ramelius warns of further delays at Greenfinch

By: Esmarie Iannucci     15th May 2019 Gold miner Ramelius Resources has warned of further delays to the approval process for its Greenfinch openpit operation, in Western Australia, immediately adjacent to the Edna May operation. The Western Australian Department of Mines, Industry Regulation and Safety in November rejected the... 

Gulf's DSO operation gets final approval

By: Esmarie Iannucci     15th May 2019 ASX-listed Gulf Manganese has received final approval from the Indonesian Ministry of Trade for its direct shipping ore (DSO) licence. The approval from the Ministry of Trade follows an earlier approval from the Ministry of Energy and Mineral Resources, and marks the final ratification for the... 

Troy targeting growth at Karouni

By: Esmarie Iannucci     15th May 2019 Junior gold miner Troy Resources will continue to target growth opportunities at its Karouni gold project, in Guyana, with the miner hoping to extend its project holding through acquisitions or joint ventures. Speaking on the sidelines of the Paydirt Latin America Downunder conference, in... 

Pantoro buys half of Central Norseman gold project

By: Esmarie Iannucci     15th May 2019 ASX-listed Pantoro has inked a multi-million dollar deal to acquire a 50% interest in the Central Norseman gold project (CNGP), in Western Australia. Pantoro will form a joint venture (JV) with Central Norseman Gold Corporation and its subsidiary, and will take over management control of the... 

Breaker raises funds for Bombora discovery

By: Esmarie Iannucci     15th May 2019 Junior Breaker Resources will raise A$6.3-million through a share placement to fund a prefeasibility study of its Bombora gold discovery, in Western Australia. The company on Wednesday reported that it would place some 21-million shares, at a price of 30c each, to institutional and sophisticated... 

Trade war spurs 'change in attitude' on gold for spooked markets

By: Bloomberg     15th May 2019 Donald Trump’s tweets are keeping global financial markets on edge, and many investors are opting for gold as a refuge. Gold open interest, a tally of outstanding futures contracts, surged the most since mid-2016 on Monday to the highest in more than seven weeks. Prices of the metal have advanced... 

Trade war spurs 'change in attitude' on gold for spooked markets

Australia’s St Barbara to buy Atlantic Gold for C$802m

By: Esmarie Iannucci     15th May 2019 Australian gold miner St Barbara has struck a C$802-million takeover deal of TSX-V-listed Atlantic Gold. St Barbara on Wednesday announced plans to acquire all of the outstanding shares in Atlantic for C$2.90 a share, implying an enterprise value of C$802-million. 

Australia’s St Barbara to buy Atlantic Gold for C$802m
Moose River

President's correct, S Africans need to act together to realise economic opportunities – Baissac   

By: Martin Creamer     14th May 2019 President Cyril Ramaphosa is correct in stating that South Africans need to act together with urgency and boldness if they are to realise the economic opportunities before them, Eunomix CEO Claude Baissac said on Tuesday. Baissac, who was speaking to Mining Weekly Online following the finding of... 

President's correct, S Africans need to act together to realise economic opportunities – Baissac
Eunomix CEO Claude Baissac talks to Mining Weekly Online’s Martin Creamer about South Africa’s economic growth needs. Video: Nicholas Boyd. Photograph: Dylan Slater.

BHP to keep Nickel West, Rio looks to Serbian lithium deposit for battery boom

By: Reuters     14th May 2019 Global miner BHP will hold on to the Australian nickel operations it previously put up for sale, while Rio Tinto is working on copper and lithium projects as the mining industry bets on demand for electric vehicle (EV) batteries. The biggest mining companies say they are well positioned to... 

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