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Australasia News

Technology Metals flags possible JV at Gabanintha

By: Esmarie Iannucci     20th May 2020 ASX-listed Technology Metals has inked a memorandum of understanding (MoU) with China’s Big Pawer Electrical Technology Xiangyang Inc over a possible joint venture (JV) to produce vanadium electrolyte and vanadium redox flow battery (VRFB) manufacturing in Australia. The MoU establishes a... 

PanTerra unveils Cuban plans

By: Esmarie Iannucci     20th May 2020 The Cuban government has approved a joint venture (JV) between state mining company Geo Minera SA and ASX-listed PanTerra Gold Investments, which will allow for the development of the La Demajagua gold/silver deposit. PanTerra on Wednesday told shareholders that subject to successful... 

Qld Parliament passes mining manslaughter laws

By: Esmarie Iannucci     20th May 2020 The Queensland Parliament has passed mine safety legislation that would see mining executives facing up to 20 years’ jail if fatalities occurred because of criminal negligence. Mines Minister Dr Anthony Lynham said establishing industrial manslaughter as an offence in mines and quarries was... 

Newcrest's Cadia water woes alleviated

By: Esmarie Iannucci     20th May 2020 Gold miner Newcrest Mining on Wednesday assured shareholders that its Cadia operation, in New South Wales, would have sufficient water to ensure that production was not constrained by a water shortage, for at least the next two years. Previous internal modeling had indicated that if rainfall had... 

Australian Vanadium secures water in WA

By: Esmarie Iannucci     20th May 2020 ASX-listed Australian Vanadium has inked a cooperation and assistance agreement with gold miner Westgold Resources providing water for the Australian Vanadium project, in Western Australia. Westgold’s Meekatharra gold operations, which is near the Australian Vanadium project, comprises several... 

Rio starts exploration in Utah

By: Esmarie Iannucci     20th May 2020 Mining major Rio Tinto’s subsidiary Kennecott is poised to start exploration work at ASX-listed Alderan Resources’ Frisco copper/gold/silver project, in Utah. Kennecott will spend an initial $6-million on exploration at the project area to gain a 55% interest in the project, with the company... 

Dubbo demerger forges ahead

By: Esmarie Iannucci     20th May 2020 The share price of ASX-listed Alkane Resources rose by nearly 11% on Wednesday as plans to progress the demerger of its subsidiary Australian Strategic Materials (ASM) progressed. Alkane on Wednesday said that the company’s board has resolved to progress the demerger of ASM, which holds the... 

Dubbo demerger forges ahead

Mining companies rush to shield indigenous communities from coronavirus

By: Reuters     20th May 2020 Big mining companies that rely on indigenous workforces or operate near remote communities have acted fast to curb the spread of the coronavirus and avoid a public health crisis that could damage their reputations. From Australia's outback to Canada's Arctic wilderness to the Andes, mining firms... 

Mining companies rush to shield indigenous communities from coronavirus

Newmont issues new 2020 guidance, lowers capex

By: Mariaan Webb     19th May 2020 US-based gold major Newmont has issued a new production guidance for 2020, as it began ramping up operations at four sites that were previously placed in care-and-maintenance. CEO Tom Palmer reported in a media statement on May 19 that 13 sites of Newmont's14 operating mines and joint ventures... 

Newmont issues new 2020 guidance, lowers capex
The Musselwhite mine , in Canada, is the only Newmont operation that remains on care-and-maintenance.

Giyani to raise funds

By: Tasneem Bulbulia     19th May 2020 TSX-listed Giyani Metals is undertaking a nonbrokered private placement of units to raise up to $1.2-million in immediately available new funding. Moreover, certain of the shares for debt transactions originally announced on May 6 have been approved by the TSX Venture Exchange and have now closed. 

Mandatory code of Covid mining practice gazetted 

By: Martin Creamer     19th May 2020 South Africa's guidelines for a mandatory Code of Practice (COP) to mitigate and manage the Covid-19 pandemic in the mining industry have been gazetted. Failure by employers to prepare and implement a mine's COP in line with the guidelines would constitute a criminal offence and a breach of the... 

Mandatory code of Covid mining practice gazetted
Photo by Creamer Media's Donna Slater
Mineral Resources and Energy Minister Gwede Mantashe

Australia commits A$2bn to climate change battle

By: Esmarie Iannucci     19th May 2020 The Australian resources and oil and gas sectors have welcomed the recommendations made in the King Review as well as the government’s commitment to a A$2-billion Climate Solutions Fund. The King Review which was commissioned in October of last year to identify new opportunities to unlock low... 

Byron Energy raises cash

By: Esmarie Iannucci     19th May 2020 Oil and natural gas explorer Byron Energy has raised A$16-million through a share placement, with the company hoping to raise a further A$4-million through a share purchase plan (SPP). Byron will place around 123.1-million shares, at a price of 13c each, in two tranches. 

Azure to restart Mexican exploration

By: Esmarie Iannucci     19th May 2020 ASX-listed Azure Minerals will resume silver and gold exploration in Mexico from June, after the Mexican government tapped the mining and exploration industry as an ‘essential service’ amid the Covid-19 pandemic. Azure on Tuesday said the resumption of activities was conditional upon the... 

Maiden resource at Tormin's Northern Beaches

By: Esmarie Iannucci     19th May 2020 A maiden Joint Ore Reserves Committee compliant resource of 2.5-million tonnes, at 23.5% total heavy minerals has been declared at the Northern Beaches of the Tormin mineral sands operation, in South Africa. “This represents yet another important milestone for our company. The delivery of a... 

Papua New Guinea court to rule on Barrick mine challenge in June

By: Reuters     19th May 2020 A Papua New Guinea court is set to rule next month on whether Barrick Gold can proceed with a legal challenge over the government's refusal to extend its lease on the Porgera gold mine, the head of the country's mining regulator said. Papua New Guinea (PNG) said last month it would take control... 

Papua New Guinea court to rule on Barrick mine challenge in June

Butcherbird tapped for 2021 start

By: Esmarie Iannucci     19th May 2020 A prefeasibility study (PFS) into the Butcherbird manganese project, in Western Australia, has identified a start-up manganese concentrate export scenario as part of a staged development strategy. ASX-listed Element 25 on Tuesday said that the base case assumed an annual production of 312 000... 

Nickel Mines in A$231m equity deal

By: Esmarie Iannucci     19th May 2020 ASX-listed Nickel Mines has launched a A$231-million equity raise to fund the purchase of additional interest in the Hengjaya and Ranger Nickel rotary kiln electric furnace (RKEF) plants, in Indonesia. Nickel Mines on Tuesday revealed that it had struck an agreement with project partner... 

Pitt urges more oil and gas development

By: Esmarie Iannucci     19th May 2020 Federal Resources, Water and Northern Australia Minister Keith Pitt has called for continued investment in the Australian oil and gas sector, despite the price volatility. Speaking in Queensland, Pitt this week said that despite the recent, short-term global oil and gas prices volatility,... 

Pitt urges more oil and gas development

OreCorp raises A$13m for Tanzanian project

By: Esmarie Iannucci     19th May 2020 Gold and base metal developer OreCorp has raised A$13.56-million through a share placement to institutional and sophisticated investors to fund continued work at its Nyanzaga gold project, in Tanzania. The company will place 45.2-million shares, at a price of 30c each in a single tranche, under... 

Glencore Coal donating food to Mpumalanga communities

By: Martin Creamer     18th May 2020 Glencore group company Glencore Coal had, at the time of Mining Weekly going to press, distributed more than 1 250 food parcels worth over R658 000 to the communities of Mpumalanga, as part of its ongoing response to the Covid-19 pandemic. Last month, the London- and Johannesburg-listed Glencore... 

Glencore Coal donating food to Mpumalanga communities
Glencore Coal's food parcels for distribution to vulnerable communities.

Hybrid renewable microgrid up and running at Gold Fields' Agnew

By: Esmarie Iannucci     18th May 2020 The 56 MW Agnew hybrid renewable project at gold miner Gold Field’s Agnew mine, in Western Australia, has been completed. Energy producer EDL on Monday said that all five wind turbines were now operational and have been successfully integrated into Australia’s largest hybrid renewable microgrid,... 

Hybrid renewable microgrid up and running at Gold Fields' Agnew

Atrum welcomes winds of change in Alberta

By: Esmarie Iannucci     18th May 2020 Coal developer Atrum Coal has welcomed a decision by the Alberta government to repeal the Coal Development Policy for Alberta, saying it represented a significant step forward to the targeted future development of Atrum’s Elan hard coking coal project. Atrum said on Monday that the repeal of... 

Atrum welcomes winds of change in Alberta

Sipa concludes royalty sale

By: Esmarie Iannucci     18th May 2020 Junior Sipa Resources has raised A$2.25-million from the sale of its royalty portfolio to royalties company SilverStream. The company in March this year inked a binding preliminary purchase agreement with SilverStream over the royalties that exist over several projects previously identified and... 

Agrimin Mackay gets 'major project' status

By: Esmarie Iannucci     18th May 2020 The Australian government has granted ASX-listed Agrimin Major Project Status for its Mackay potash project, in Western Australia. Minister for Industry, Science and Technology Karen Andrews said the project would provide significant economic benefits at such a critical time. 

Agrimin Mackay gets 'major project' status

Hot Chili raises A$8.9m

By: Esmarie Iannucci     18th May 2020 Copper developer Hot Chili is hoping to raise A$8.9-million through a private share placement and a rights issue to fund work at its Cortedera project, in Chile. The ASX-listed company on Monday said it had successfully arranged for a A$5-million private placement to sophisticated and... 

Gold, silver race higher on fear of second virus wave

By: , Bloomberg     15th May 2020 Gold and silver are finishing the week on a high note, lifted by concerns over economic growth, a second wave of virus infections and simmering tensions between the U.S. and China. Gold headed back toward its peak in April, when prices hit the highest since 2012. Silver jumped to a two-month... 

Turquoise Hill updates mine design for Oyu Tolgoi underground

By: Mariaan Webb     15th May 2020 Rio Tinto-controlled Turquoise Hill has completed the an updated mine design for Panel 0 – the first panel of mining at its Oyu Tolgoi underground project – narrowing the previously announced cost overrun and delay ranges. The approved design is based on a block cave approach, which leaves two... 

Turquoise Hill updates mine design for Oyu Tolgoi underground
The Oyu Tolgoi concentrator

Central banks indicate they will continue to buy gold, some more than usual 

By: Marleny Arnoldi     15th May 2020 The World Gold Council (WGC) in its latest 'Central Bank Gold Reserves (CBGR)' survey highlights several notable shifts in central bank attitudes towards gold this year. Increased interest in gold’s performance during times of crisis would suggest that the fast-changing financial and economic... 

Central banks indicate they will continue to buy gold, some more than usual

BCI adds to Mardie footprint

By: Esmarie Iannucci     15th May 2020 Junior BCI Minerals has secured a new tenement area adjacent to its Mardie salt and potash project, in Western Austraila. BCI Minerals on Friday announced that it would pay owner Leichhardt Industrials A$3.5-million on cash on the completion of the tenement right acquisition. 

Panoramic completes Canadian project sale

By: Esmarie Iannucci     15th May 2020 Nickel miner Panoramic Resources has completed the sale of its Thunder Bay North project, in Canada, to Clean Air Metals, which was formerly known as Regency Gold Corp. Panoramic in January inked a share purchase agreement for its subsidiary Magma Metals selling asset for C$9-million in cash. 

Heron gets extension on standstill agreement

By: Esmarie Iannucci     15th May 2020 Base metals junior Heron Resources has received a further extension to the standstill agreement with senior deb provider Orion Mine Finance (OMF) to determine a forward path for its Woodlawn project, in New South Wales. Heron in March suspended operations at Woodlawn amid travel restrictions... 

Flinders raises cash

By: Esmarie Iannucci     15th May 2020 ASX-listed Flinders Mines is hoping to raise A$5.5-million through a non-renounceable entitlement offer, priced at 1.3c a share. The entitlement offer will comprise some 425.8-million shares, and will be offered on the basis of one new share for every nine existing shares held.  

Australian LNG exports stay strong

By: Esmarie Iannucci     15th May 2020 Australian liquefied natural gas (LNG) exports in April continued apace, despite the global surplus of LNG and a slowdown in economic activity as a result of the Covid-19 pandemic, energy advisory EnergyQuest has found. In its latest report, EnergyQuest noted that in April, Australian LNG... 

Australian LNG exports stay strong

Australian Parliament passes hydrogen legislation

By: Esmarie Iannucci     15th May 2020 The Australian Parliament this week passed the Offshore Petroleum and Greenhouse Gas Storage (OPGGS) Amendment Bills amending the OPGGS Act 2006, which could pave the way for a new hydrogen industry in Australia. The Amendment Bills were now awaiting royal assent. “As Australia emerges from the... 

Australian Parliament passes hydrogen legislation

WA fixes construction mineral royalty

By: Esmarie Iannucci     15th May 2020 The Western Australian government on Friday announced that royalty rates for construction and industrial minerals used by Western Australia's building and construction sector will remain fixed for the next five-years starting in July. 

Alcoa CEO sees no certainty a definitive recovery is coming

By: , Bloomberg     15th May 2020 Alcoa Corp CEO Roy Harvey isn’t ready to declare that the world is on the road to recovery yet. Speaking at a virtual metals and mining conference on Thursday, the head of the aluminum producer said there remains too much uncertainty in global economies to feel comfortable saying the situation... 

Gold's implied returns to come down sooner or later, says WGC

By: Marleny Arnoldi     14th May 2020 The World Gold Council (WGC) has analysed the potential performance of gold across four hypothetical scenarios provided by Oxford Economics in light of Covid-19 and ensuing economic lockdowns slashing global growth forecasts for this year. The WGC explains that gold’s behaviour can be explained... 

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