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Australasia News

Gold keeps its shine for investors as other precious metals fade

By: Bloomberg     1st July 2022 Investors cut holdings in exchange-traded funds for silver, platinum and palladium in the second quarter on fears that a potential recession will reduce industrial demand, but gold assets held up because of its role as a haven, and that may persist. Gold-backed ETFs shrank by just over 1% in the... 

Bowen completes acquisition

By: Darren Parker     1st July 2022 ASX-listed Bowen Coking Coal has completed its 100% buyout of the shares in coal company New Lenton Coal, which it called a transformational transaction for the company. New Lenton holds a 90% interest in the Lenton joint venture (JV), which owns the Lenton coal project and Burton coal mine in... 

Mine haulage transition to electric offered without disruption   

By: Martin Creamer     1st July 2022 If the world were to electrify every mine truck, it would stop 198 000 t of carbon dioxide (CO2) a day from entering the atmosphere, which equates to a single electrified mining truck eliminating what would take 46 000 trees to absorb. That mammoth sustainability benefit was driven home firmly... 

Creamer Media screenshot.
ABB's Erik Pretorius interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Carbine’s Sandbox buy falls through

By: Mariaan Webb     1st July 2022 Junior Carbine Resources said on Friday that its proposed acquisition of the Sandbox silica sands project, in Queensland, from FNQ Sands had fallen through. “It has been determined by the company that the condition precedent regarding the approval of Carbine shareholders will not be able to be... 

Copper slumps to 17-month low as recession fears haunt markets

By: Reuters     1st July 2022 Copper prices tumbled to a near 17-month low on Friday and were set for their fourth consecutive weekly decline, as fast-rising interest rates and weak economic data stoked fears of a global recession, which would dent demand for metals. Other industrial metals also fell, with zinc dropping over... 

Copper slumps to 17-month low as recession fears haunt markets

Iron-ore tumbles as recession fears fuel commodities selloff

By: Reuters     1st July 2022 Iron-ore and steel prices tumbled on Friday as prospects of a sharp global economic downturn fanned fears of a slump in demand for commodities, despite signs of a rebound in manufacturing activity in top metals consumer China. The spectre of a global recession fed an already clouded demand... 

Spanish Parliament rejects motion to make mining approvals more difficult

By: Darren Parker     1st July 2022 The Spanish Parliament has rejected a motion by democratic socialist electoral alliance Unidas Podemos that would have made it more difficult to secure approvals for new mining projects and would have also increased taxes on existing mineral producers. On June 23, the motion was outvoted by an... 

Midas expands portfolio, appoints Calderwood MD

By: Mariaan Webb     1st July 2022 Western Australia-baased junior explorer Midas Minerals has appointed experienced mining executive Mark Calderwood to the board in the of MD, as the company moves to expand its project portfolio, including exercising an option to acquire the Newington lithium/gold project. Calderwood has served... 

Anglo enters deal to accelerate rollout of nuGen zero emissions haulage solution 

By: Chanel de Bruyn     30th June 2022 Diversified miner Anglo American is in exclusive negotiations with specialist engineering technology company First Mode Holding and has agreed nonbinding terms to establish a combined business to accelerate the rollout of Anglo's nuGen hydrogen-powered Zero Emissions Haulage Solution (ZEHS). The... 

Anglo American's nuGen haulage truck
Anglo American's nuGen haulage truck

Fertoz, Excel to develop US fertiliser pelleting plant

By: Tasneem Bulbulia     30th June 2022 ASX-listed Fertoz has announced a joint venture with Montana-based Excel Industries to develop a fertiliser pelleting plant in the US. Fertoz will work with Excel and its affiliate Range Cubes Mill, based in Kinsey, Montana, to create a fertiliser pellet product containing nitrogen, phosphorous... 

Volt undertakes share placement to restart graphite production in Ukraine

By: Tasneem Bulbulia     30th June 2022 ASX-listed Volt Resources has received firm commitments from professional and sophisticated investors for a placement to raise A$1.72-million. Volt chairperson Asimwe Kabunga subscribed for fully paid ordinary shares and unlisted options for an additional A$284 000 on the same terms as the... 

Cyprium to raise A$26m for copper projects

By: Tasneem Bulbulia     30th June 2022 ASX-listed Cyprium Metals has announced a capital raising via a placement and a pro rata non‐renounceable rights issue to raise up to A$26-million before costs. The company has received firm commitments in respect of a placement to issue about 139.1-million new shares at 11.5 c each to raise... 

Queensland State budget to boost resources industry

By: Tasneem Bulbulia     30th June 2022 A State Budget pack of A$68.5-million is set to boost Queensland's resources industry, including transforming the state’s new economy minerals sector into a long-term pit-to-product industry. Resources Minister Scott Stewart said that this week’s Budget was expected to inject millions into the... 

Sandfire’s updated MRE sets strong foundation at MATSA

By: Tasneem Bulbulia     30th June 2022 ASX-listed Sandfire Resources has reported an updated measured, indicated and inferred mineral resource estimate (MRE) for the MATSA mining operations, in Spain, totalling 147.2-million tonnes, containing an estimated 2.1-million tonnes of copper, 4.4-million tonnes of zinc, 1.5-million tonnes of... 

Renergen strikes new gas blower named Gandalf, making progress on plant

By: Schalk Burger     30th June 2022 ASX- and JSE-listed natural gas and helium producer Renergen announced a new gas blower named Gandalf at its Virginia gas project, in South Africa’s Free State province, after gas was intersected at 480 m from surface with a flow rate of about 90 000 cubic feet a day. The target depth is 1 200 m,... 

Metals set for worst quarter since 2008 on global downturn angst

By: Bloomberg     30th June 2022 Base metals headed for the worst quarterly slump since the global financial crisis in 2008 as China’s economy recovered only gradually and fears of a world recession intensified. The London Metal Exchange Index has tumbled 23% since the end of March, although the decline has been magnified due... 

Metals set for worst quarter since 2008 on global downturn angst

Argosy’s Argentina lithium project 90% complete

By: Mariaan Webb     30th June 2022 Development work at the Rincon lithium project, in Argentina, is about 90% complete, keeping the 2 000-t/y lithium carbonate operation on track for first production in the third quarter of this year. Argosy Minerals’ MD Zerko Zuvela says that the company’s operations team is getting closer to... 

Hawsons iron project MRE delayed to July

By: Tasneem Bulbulia     30th June 2022 ASX-listed Hawsons Iron has advised that analytical work on an anticipated mineral resource estimate update (MRE) for the Hawsons iron project, near Broken Hill, has not been completed on time, owing to the cumulative delaying impact of wet weather, Covid-19 and additional time required to... 

Pan African study highlights Mogale Gold's fast payback, low costs, output uplift, ungeared return 

By: Martin Creamer     30th June 2022 Fast payback, low costs, big production uplift, long life, high ungeared return and a lot more is contained in the definitive feasibility study (DFS) on the Mogale Gold tailings storage facilities published by gold mining company Pan African on Thursday. The Mogale Gold tailings storage... 

Creamer Media photograph.
Photo by Creamer Media
Pan African CEO Cobus Loots.

EPA recommends North West Shelf extension

By: Tasneem Bulbulia     30th June 2022 The Western Australian Environmental Protection Authority (EPA) has recommended approval to increase the life of the North West Shelf (NWS) project, with key environmental conditions for the ongoing operations in the decades ahead. One of the conditions is to reduce greenhouse gas emissions from... 

An image of the Karratha North West Shelf project gas plant

Tulla subsidiaries concludes iron-ore deal with Constance

By: Marleny Arnoldi     30th June 2022 ASX-listed Tulla Resources’ subsidiaries Central Norseman Gold Corporation (CNGC) and Pangolin Resources have entered into an offtake and funding agreement with Australia-based Constance Iron, for its Norseman iron-ore project, in Australia. This follows a heads of agreement signed between the... 

Rio Tinto, Corona Canada pilot low-carbon beer cans

By: Marleny Arnoldi     30th June 2022 British-Australian mining group Rio Tinto and beer brewer Corona Canada have launched a trial of Canada’s first specially-marked, low-carbon beverage can. The can was manufactured by Ball Corporation, using aluminium from Rio Tinto and leveraging emissions-free Elysis smelting technology. 

Turmoil at Firefinch as MD walks, Morilla update expected

By: Mariaan Webb     29th June 2022 Australian company Firefinch’s shares were suspended on Wednesday, pending an announcement regarding the operational performance and production guidance at the Morila gold mine, in Mali. The company also announced that MD Michael Anderson had left his position “by mutual agreement” – a day after... 

Liontown inks lithium deal with Ford after Tesla, LG agreements

By: Reuters     29th June 2022 Liontown Resources signed a lithium supply agreement with Ford Motor, the Australian miner's latest after similar deals earlier this year with Tesla and electric vehicle (EV) battery maker LG Energy. Liontown said on Wednesday it will supply Ford with 150,000 dry metric tonnes (DMT) of lithium... 

Coburn mineral sands mine expedited

By: Darren Parker     29th June 2022 The rapid construction of ASX-listed Strandline Resources’ Coburn mineral sands project in Western Australia has facilitated the start of openpit mine development two months ahead of schedule, the company said on Wednesday. After the successful early mobilisation of the mining contractor in... 

Pilbara pushes button on A$300m Pilgangoora expansion

By: Darren Parker     29th June 2022 ASX-listed lithium group Pilbara Minerals on Wednesday announced a near A$300-million expansion of its Pilgangoora operation, in Western Australia, bolstering output by 100 000 t/y from late 2023. The board has made the final investment decision (FID) to go ahead with the P680 project, which will... 

The Pilgangoora plant
The Pilgangoora plant

Critical minerals inspire global collaborative exploration efforts, finds PDAC panel

By: Marleny Arnoldi     29th June 2022 Governments around the world are using next-generation public geoscience to meet many of the same challenges and opportunities, including meeting increased demands for critical minerals, clean energy supply and disaster risk reduction. As such, many national and regional geological survey... 

Metro to expand Bauxite Hills operation

By: Darren Parker     29th June 2022 ASX-listed Metro Mining’s board has approved a final investment decision (FID), subject to financing, to expand the capacity of its Bauxite Hills mine, in Queensland, to 7-million wet metric tonnes a year for a capital expenditure (capex) of A$28.3-million. The expansion will be financed from a... 

Capital raise under way to progress copper/zinc mine in Northern Cape 

By: Martin Creamer     29th June 2022 An opportunity to subscribe for new shares in parcels starting from R20 000 to a maximum of R330 000 is being offered to eligible shareholders by Orion Minerals. The capital raise is being undertaken to fund the Sydney- and Johannesburg-listed Orion’s Prieska copper/zinc mine, as well as other... 

Creamer Media photograph.
Photo by Creamer Media
Orion Minerals CEO Errol Smart

'Terrifying': WWF chief hits out at plans to mine the deep sea

By: Reuters     29th June 2022  The World Wildlife Fund's chief warned on Tuesday that the potential impact of mining the deep sea could be "terrifying" and called for strict regulations to avoid yet another environmental disaster. There is growing interest in deep-sea mining but there is also pressure from some environmental... 

At Australia mine, Glencore balances reforestation drive, coal profit

By: Reuters     29th June 2022 At Glencore's aging Mt Owen opencut coal mines north of Sydney, a team of scientists and engineers is restoring woodlands to mined-out fields, aiming to burnish the company's environmental credentials with climate activists and shareholders who want it to back away from coal. But just hundreds... 

South Africa in a position to export energy – Anglo American Platinum 

By: Martin Creamer     28th June 2022 South Africa is one of only four countries that has more renewable energy available to it than what it needs for itself, which places the country in a very strong position to be able to export energy, with hydrogen in the form of ammonia, hydrogen gas or liquid hydrogen among the best ways of... 

Anglo American Platinum CEO Natascha Viljoen.
Anglo American Platinum CEO Natascha Viljoen.

Bill Gates-led fund backs startup with cheaper way to move hydrogen

By: Bloomberg     28th June 2022 A hydrogen molecule is tiny. So tiny, in fact, that trying to store and transport it via existing tanks and pipes can end up causing cracks in steel. If hydrogen is to become a clean fuel of the future, urgent technological solutions are needed to keep it in place and move it at will. Enter... 

Nova reports 1 330 g/t gold discovery in Alaska

By: Darren Parker     28th June 2022 Ongoing resource drilling at Nova Minerals RPM gold project’s North deposit, in Alaska, has delivered a “bonanza” gold grade discovery of 1 330 g/t from selective sampling of mineralised veins in drill core, resulting in a 13% boost in the ASX-listed company’s share price on Tuesday. The drilling... 

Northern Star considers three mill expansion options at KCGM

By: Darren Parker     28th June 2022 Gold mining company Northern Star Resources is mulling over three potential mill expansion options that were put forward in a recently completed Kalgoorlie Consolidated Gold Mines (KCGM) mill optimisation prefeasibility study (PFS). The PFS formed part of an investigation into opportunities for... 

KCGM super pit in Australia
Photo by Bloomberg
KCGM is one of the world's largest gold mines

Kingsgate appoints GM for Chatree

By: Creamer Media Reporter      28th June 2022 ASX-listed Kingsgate has appointed Wayne Schiller, a mining processional with more than 30 years of experience, as the general manager for the Chatree gold mine, in Thailand. Schiller will start work on July 18 and his initial focus will be on the refurbishment and recommissioning of the mine,... 

New Acland expansion gains environmental approval

By: Mariaan Webb     28th June 2022 The New Acland Stage 3 coal project of ASX-listed New Hope Group moved a step forward on Tuesday, with the Queensland government granting the project environmental approval. The coal miner has been battling to gain approval for the Stage 3 development of its New Acland mine and was earlier... 

Two recently appointed Firefinch directors quit

By: Mariaan Webb     28th June 2022 Australia-based Firefinch on Tuesday announced that its two recently appointed nonexecutive directors had resigned. Liz Wall and Naomi Scott, whose appointments were announced at the end of May, had resigned with effect from Monday, the ASX-listed company said, without providing reasons for the... 

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