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Australasia News

Regis marks record quarter and full year

By: Esmarie Iannucci     5th July 2022 Gold miner Regis Resources has reported record production in the June quarter, as well as the 2022 financial year. Gold production in the June quarter reached 123 901 oz, with the Duketon operation contributing 92 800 oz and the Tropicana mine contributing 31 100 oz. The June quarter production... 

Westgold hits production target

By: Esmarie Iannucci     5th July 2022 ASX-listed Westgold Resources has hit its production target for the 2022 financial year, producing 270 878 oz of gold, setting a new production record. For the fourth quarter ending June, the company produced 72 591 oz of gold, with the Cue gold operation, in Western Australia, producing a... 

Firefinch sells stake in Leo Lithium

By: Esmarie Iannucci     5th July 2022 Gold miner Firefinch has sold 28.6-million of its shares in lithium spin-off Leo Lithium at a price of 45.5c each, garnering revenues of A$12.9-million. Leo Lithium started share trading in June following a successful initial public offering (IPO) in May, during which Leo raised A$100-million... 

Stavely raises cash for Victorian exploration

By: Esmarie Iannucci     5th July 2022 Junior Stavely Minerals will raise A$4-million in a share placement to fund exploration and resource definition drilling at its copper/gold project in Western Victoria. The ASX-listed company on Tuesday reported that it would place some 26.7-million shares, at a price of 15c each under its... 

Whitehaven facing legal challenges over Narrabri expansion

By: Esmarie Iannucci     5th July 2022 Coal miner Whitehaven Coal is facing a legal challenge to the State Significant Development Consent for the Narrabri Stage 3 extension project, in New South Wales, which was granted by the state’s Independent Planning Commission (IPC) in April this year. The proposed extension would extend the... 

GGG secures arbitration funding

By: Esmarie Iannucci     5th July 2022 ASX-listed Greenland Minerals (GGG) has secured litigation funding from Woolridge Investments, a wholly-owned subsidiary of Burford Capital, to fully fund the arbitration costs in the dispute with the government of Greenland and the government of the Kingdom of Denmark. GGG earlier this year... 

Kingston launches review of Misima

By: Esmarie Iannucci     5th July 2022 ASX-listed Kingston Resources has launched a strategic review of its Misima gold project assessing options to maximise shareholder value. Kingston said on Tuesday that the strategic review would be conducted in parallel with ongoing mining license and environmental and social impact assessment... 

Industry taxes reach record heights - report

By: Esmarie Iannucci     5th July 2022 Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company... 

Genesis confirms bid for Dacian Gold

By: Esmarie Iannucci     5th July 2022 ASX-listed Genesis Minerals on Tuesday confirmed its growth aspirations in Western Australia, unveiling a recommended takeover offer of gold miner Dacian Gold. Both Genesis and Dacian went into a trading halt at the start of the week, as reports emerged that Genesis had made a takeover offer... 

Image shows the Mount Morgans operation

Plans under way to extend the ADGSM

By: Esmarie Iannucci     5th July 2022 The federal government is looking to extend the Australian Domestic Gas Security Mechanism (ADGSM) until 2030 to ensure the mechanism is available to help secure ongoing domestic gas supplies in the next decade. Minister for Resources and Northern Australia Madeleine King said the existing ADGSM... 

Alara forms JV to bid for Saudi zinc-copper exploration licence

By: Darren Parker     4th July 2022 ASX-listed metals explorer and developer Alara Resources is hopeful that it will return to Saudi Arabia, announcing on Monday that it had formed a joint venture (JV) to bid for the award of a 353 km2 exploration licence that includes the company’s former Khnaiguiyah zinc-copper project. Alara... 

EcoGraf appoints new COO

By: Darren Parker     4th July 2022 Battery anode materials company EcoGraf has appointed experienced executive Dale Harris as COO to drive the development of its integrated battery graphite businesses. Harris spent 20 years working for diversified mining major Rio Tinto, becoming Rio Tinto Iron Ore COO and filling several GM... 

Calidus progresses Warrawoona ramp-up

By: Darren Parker     4th July 2022 ASX-listed Calidus Resources poured 8 916 oz of gold in the June quarter during the commissioning and ramp up of the Warrawoona gold project in the Pilbara Goldfield of Western Australia, with an additional 1 192 oz of gold in circuit. The quarter saw the first gold poured in May following the... 

Gold pour

Highfield signs €23m term sheet for equipment leasing

By: Darren Parker     4th July 2022 ASX-listed Highfield Resources has signed a €23.3-million non-binding indicative term sheet with financial services group Macquarie for an equipment operating lease facility for the Muga potash mine in Spain, subject to contract and Macquarie completing its final due diligence and all requisite... 

Coda sells Mt Piper to Kalamazoo

By: Darren Parker     4th July 2022 ASX-listed Coda Minerals has agreed to divest its Mt Piper gold project in central Victoria, to fellow-listed Kalamazoo Resources for a consideration package comprising a combination of upfront cash, shares and a future production royalty. Mt Piper was inherited by Coda as part of its recently... 

NeuRizer signs A$1.5bn urea offtake agreement with Daelim

By: Darren Parker     4th July 2022 ASX-listed NeuRizer has signed a binding, long term take or pay offtake agreement with petrochemicals company Daelim subsidiary DL Trading for 500 000 t/y of granular urea fertiliser at an index-linked price. The company said the agreement brought its flagship NeuRizer urea project (NRUP) closer... 

3D rendering of the NeuRizer urea project
3D rendering of the NeuRizer urea project

New Anglo strategy director excited by mining’s green energy transition 

By: Martin Creamer     4th July 2022 The newly appointed group director of strategy and business development of diversified mining company Anglo American on Monday singled out mining’s green energy transition in commenting on the excitement of her new appointment. Helena Nonka, who is currently executive VP of corporate development... 

Picture supplied.
New Anglo American group director of strategy and business development Helena Nonka.

Copper sinks to 17-month low as slowdown fears mount

By: Reuters     4th July 2022 Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of... 

Gold teeters above $1 800 as lower yields counter dollar strength

By: Reuters     4th July 2022 Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices... 

Firefinch outlines plan for underperforming Morila 

By: Mariaan Webb     4th July 2022 Australia-based Firefinch on Monday outlined a ‘forward plan’ for the Morila gold mine, in Mali, after the company withdrew its full-year guidance, owing to a slower-than-planned ramp up that resulted in the full-year guidance being withdrawn. Morila, which the miner bought from Barrick and... 

Firefinch outlines plan for underperforming Morila 

Miners take a stand against Qld govt

By: Esmarie Iannucci     4th July 2022 Industry bodies the Queensland Resources Council (QRC), its exploration arm, the Queensland Exploration Council (QEC) and the Association of Mining and Exploration Companies (AMEC) will not attend the Queensland government’s launch of the Queensland Resources Industry Development Plan (QRIDP), in... 

Genesis planning a big sweep in Leonora

By: Esmarie Iannucci     4th July 2022 Merger talks are afoot in the Leonora Province in Western Australia, with gold miner St Barbara on Monday confirming that it had resumed talks with fellow-listed Genesis Minerals. Talks between St Barbara and Genesis fizzled out last month, with Genesis saying that it had abandoned talks with St... 

Australian resources exports to set new records

By: Esmarie Iannucci     4th July 2022 Australia’s resource and energy export earnings are estimated to be worth A$405-billion in 2021–22, and is forecast to rise to A$419-billion in 2022–23, delivering two successive record years, the Office of the Chief Economist reported on Monday. As world supply responds to high prices and... 

Image shows container ships at Port Hedland

IGO to acquire 70% stake in Matsa’s Fraser Range tenements

By: Darren Parker     1st July 2022 ASX-listed Matsa Resources has entered into an agreement with exploration company IGO Newsearch, whereby IGO will acquire a 70% interest in the copper/nickel Symons Hill project as well as Matsa’s other Fraser Range tenements in Western Australia. Under the terms of the agreement, IGO will pay... 

Oceana Lithium begins trading on ASX

By: Darren Parker     1st July 2022 Mineral exploration and development company Oceana Lithium started trading on the ASX on Friday under the code OCN. The listing follows the successful and oversubscribed initial public offering (IPO) of Oceana, which raised A$6-million in new equity. This included a A$1-million cornerstone... 

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... 

Gold keeps its shine for investors as other precious metals fade

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... 

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