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Pt 1037.00 $/oz Change: 31.00

Australasia News

Vital appoints COO in Canada

By: Esmarie Iannucci     18th October 2022 ASX-listed Vital Metals has appointed project management professional Eben Visser as its COO, effective from November 11. Visser, who will be based in Canada, will oversee the production at Vital’s Nechalacho rare earths mine and the ramp-up of production at its Saskatoon processing facility, as... 

Green hydrogen seen competing with LNG within a decade

By: Bloomberg     18th October 2022 The cost of clean hydrogen will fall to that of liquefied natural gas in a decade as global efforts to replace fossil fuels accelerate, according to Europe’s biggest operator of gas infrastructure. “Green hydrogen today is not economically competitive against alternative energy sources, which... 

Sayona secures rail link for NAL spodumene

By: Esmarie Iannucci     18th October 2022 Lithium developer Sayona Mining has secured a rail solution to deliver spodumene form the North American Lithium (NAL) operation to port. The company on Tuesday announced that it had awarded a C$43-million contract to Québec rail operator Solurail Logistique Inc to transport spodumene... 

Production starts at BBM

By: Esmarie Iannucci     18th October 2022 ASX-listed Cokal has produced its first saleable coal from its Bumi Barito Mineral (BBM) operation, in Indonesia. The company on Tuesday said that metallurgical coal production is ramping up, with 150 000 t to 120 000 t of saleable coal forecast by the end of this calendar year. Production... 

Lower quarterly production at St Barbara

By: Esmarie Iannucci     18th October 2022 Lower grades and equipment availability issues has resulted in gold miner St Barbara reporting lower outputs in the first quarter of its 2023 financial year. For the three months to September, St Barbara produced 63 700 oz of gold, down from the 86 000 oz produced in the June quarter, and the 67... 

Australia committed to LNG development - King

By: Esmarie Iannucci     18th October 2022 The federal government was committed to the continued development of the country’s liquefied natural gas (LNG) sector, with Resources Minister Madeleine King saying the sector would be an integral player in Australia’s move to a net-zero future. Speaking at the Asia Pacific Oil and Gas... 

Rio warns of softer iron-ore output

By: Esmarie Iannucci     18th October 2022 Major Rio Tinto has warned that iron-ore production for the full year would be at the lower-end of the original guidance of between 320-million and 335-million tonnes, despite the production in the September quarter increasing by 1% on the previous corresponding period and by 7% on the previous... 

An image of a train transporting iron-ore

Rio amends Rhodes Ridge agreement, starts studies on major mine

By: Esmarie Iannucci     18th October 2022 Diversified miner Rio Tinto has amended a joint venture (JV) agreement with Wright Prospecting, dating back to 1972, to allow for the development of the Rhodes Ridge iron-ore project, some 40 km from Newman. The Rhodes Ridge project is home to one of the world’s largest and highest quality... 

Image shows Rio Tinto hardhat on mine site

Carbon capture projects hit record, but would mitigate less than 1% of emissions

By: Bloomberg     17th October 2022 The number of carbon capture and storage projects in development grew to record levels this year on the back of rising carbon prices and government incentives but would still only mitigate less than 1% of annual emissions, a new report finds. There are now 153 CCS projects in the planning phase,... 

Enabling exploration is urgently needed to put South African mining back in ‘sunrise’ mode  

By: Martin Creamer     17th October 2022 High on the list of the steps that must be taken to stop South African mining from fading further into sunset mode is free access to geological information from State institutions such as the Council for Geoscience. Next is the provision of a modern, functional, and transparent mineral cadastre... 

Botswana Diamonds CEO James Campbell.
Botswana Diamonds CEO James Campbell interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Aluminium price drops on jump in LME stocks and Russian metal

By: Reuters     17th October 2022 Aluminium prices dropped on Monday as inventories in London Metal Exchange (LME) warehouses jumped, fuelling fears of unwanted Russian-origin metal in the LME system, traders said. Benchmark aluminium on the LME was down 2.3% at $2 252 a tonne at 10:37 GMT. 

Pacific Nickel raises cash for Kolosori

By: Esmarie Iannucci     17th October 2022 Junior Pacific Nickel will raise A$5.2-million in a share placement to advance the development of its Kolosori nickel project, in the Solomon Islands. The ASX-listed company on Monday announced that it had successfully arranged for the placement of more than 75.3-million shares, at a price of 7c... 

Australian Vanadium appoints CEO

By: Esmarie Iannucci     17th October 2022 ASX-listed Australian Vanadium has appointed Graham Arvidson as CEO. Ardvison will work alongside MD Vincent Algar and COO Todd Richardson to progress the Australian Vanadium project through its final stages of development and into production. 

Biggins makes an early exit

By: Esmarie Iannucci     17th October 2022 Lithium developer Core Lithium on Monday announced that the resignation of MD Stephen Biggins would take immediate effect. Biggins in March announced his intention to resign and in August, Core Lithium appointed Gareth Manderson as the company’s CEO. Biggins was set to step down at the end of 2022. 

Consolidated Zinc signs year-long offtake deal

By: Esmarie Iannucci     17th October 2022 Base metals miner Consolidated Zinc on Monday announced that Industrias Penoles had exercised its option to purchase all of the zinc concentrate produced at the Plomosas operation, in Mexico, between January and December next year. As part of the zinc concentrate offtake agreement, Penoles has... 

Woodside advances US hydrogen plans

By: Esmarie Iannucci     17th October 2022 Australian energy major Woodside has awarded a near A$90-million contract to Nel Hydrogen Electrolyser AS, a subsidiary of Nel ASA, for the alkaline electrolyser equipment for its proposed hydrogen project in Ardmore, Oklahoma, known as H2OK. The H2OK project involves construction of an initial... 

Image shows the Woodside tower in Perth

Rain falls on the Sierra Rutile parade

By: Esmarie Iannucci     17th October 2022 Africa-focused Sierra Rutile has flagged lower production from its Sierra Leone operations for the September quarter, ahead of its results announcement later this month. The ASX-listed company said on Monday that operations during the three months to September were hampered by unusually heavy... 

Equus halts stockpile processing in Chile

By: Esmarie Iannucci     17th October 2022 ASX-listed Equus Mining will suspend stockpile processing operations at its Cerro Bayo gold/silver project, in Chile, placing the processing infrastructure on care and maintenance. The company on Monday said that this decision has been made after significant effort over the last few months to... 

PolarX to invest in more drilling

By: Esmarie Iannucci     17th October 2022 A scoping study for the Alaska Range copper/gold project, in the US, has proven positive for ASX-listed PolarX, with the company saying the study results justified additional investment on drilling to increase the mineral resource base. The scoping study is based on the sequential mining of the... 

Hawsons pumps the brakes on its DFS

By: Esmarie Iannucci     17th October 2022 Junior Hawsons Iron will slow the pace of its bankable feasibility study (BFS) on its namesake project, in New South Wales, to examine escalating costs and to evaluate options to progress the project. “We, like many companies, are being challenged by the current economic climate, falling... 

Cabinda DFS proves up

By: Esmarie Iannucci     17th October 2022 The definitive feasibility study (DFS) for the Cabinda phosphate project, in Angola, has estimated a capital requirement of $48.5-million to develop the project, with owner Minbos Resources saying it would only require some $40-million in funding after allocating existing cash. The DFS is based... 

IGO confirms Bradford's passing

By: Esmarie Iannucci     17th October 2022 Battery metals miner IGO has confirmed the sudden passing of MD and CEO Peter Bradford over the weekend. “[Bradford] was an inspirational leader, an innovative and strategic thinker and a compassionate mentor, who transformed IGO into the company that it is today - a globally recognised, ASX100... 

Karo platinum project taking off in Zimbabwe with solar power tailwind  

By: Martin Creamer     14th October 2022 A multi-phased development approach is being adopted at the Karo Platinum project in Zimbabwe, where a 17-year opencast mine is to be built with a timeline to deliver its first ore to mill in July 2024. “In July 2024, we will put the first ore in mill,” Karo Mining Holdings MD Bernard Pryor told... 

Bernard Pryor and Phoevos Pouroulis.
Phoevos Pouroulis (right) and Bernard Pryor (left) present Karo project update, covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Unions call for 'safety reset' after second fatality

By: Esmarie Iannucci     14th October 2022 The Western Mine Workers Alliance (WMWA) has slammed the Western Australian resources sector’s safety culture, saying something was ‘fundamentally wrong’. The comments followed two fatalities this week. 

Image shows mining boots lined up

Iron-ore outlook clouded by global demand woes, supply risks

By: Reuters     14th October 2022 Iron-ore prices are on track to end 2022 at their lowest in the last three or four years and will probably languish next year as well, with China and Europe cutting steel output, while pressure mounts from additional supply. Price forecasts for the key steelmaking ingredient range from about $90... 

Photo of an iron-ore mining operation in Australia's Pilbara

Turquoise Hill investor SailingStone opposes Rio takeover

By: Mariaan Webb     14th October 2022 SailingStone Capital Partners, a long-time investor in TSX- and NYSE- listed Turquoise Hill Resources, will vote against the copper/gold company’s takeover by majority shareholder Rio Tinto at a shareholders’ meeting on November 1. The C$43-a-share offer that a special committee of independent... 

WA's EIS draws battery mineral hunters

By: Esmarie Iannucci     14th October 2022 Battery metals have dominated the latest round of the Western Australian government’s Exploration Incentive Scheme's (EIS) co-funded drilling program, with 64% of the successful applicants for Round 26 searching for battery minerals, with the majority chasing nickel. “Mineral exploration... 

BHP facing industrial action in Qld

By: Esmarie Iannucci     14th October 2022 Coal miners from four operations in Queensland owned by diversified miner BHP will vote on which industrial action to take after the miner reportedly failed to support permanent jobs. The Mining & Energy Union on Friday said that miners at Saraji, Peak Downs, Goonyella Riverside and Blackwater... 

Mako raises funds for West African gold hunt

By: Esmarie Iannucci     14th October 2022 ASX-listed Mako Gold will raise A$3.1-million in a share placement to institutional investors, to fund its near-term resource growth strategy in West Africa. The company will issue some 75.6-million new shares, at a price of 4.1c each, representing an 18% discount to Mako’s last closing price,... 

Norseman pours its first gold

By: Esmarie Iannucci     14th October 2022 The Norseman gold joint venture (JV) project between ASX-listed Pantoro and fellow-listed Tulla Resources, has poured its first gold. “This is a momentous occasion for one of Australia's iconic gold mines - the resumption of production at Norseman with the first pour from the JV with Pantoro,”... 

Hastings completes Neo buy

By: Esmarie Iannucci     14th October 2022 Rare earths developer Hastings Technology Metals has completed the acquisition of a 19.9% stake in TSX-listed Neo Performance Materials Inc, for a C$134.6-million investment. The company in August flagged a binding share purchase agreement with an affiliate of Oaktree Capital Management to... 

Second round of RCIF delivered to Qld

By: Esmarie Iannucci     14th October 2022 The Queensland government will invest more than A$52-million under the Resources Community Infrastructure Fund (RCIF) to deliver more services, and improve regional Queenslanders’ lifestyle. Deputy Premier and Minister for State Development Steven Miles said the state government was working... 

Rio partners with Scania to develop autonomous trucks

By: Esmarie Iannucci     14th October 2022 Mining major Rio Tinto is partnering with Swedish commercial vehicle manufacturer Scania in developing more agile autonomous haul trucks at its Pilbara mines. The two companies have established a long-term research and development collaboration agreement for the continuous advancement of this... 

Atlantic Lithium applies for Ewoyaa mining licence in Ghana

By: Darren Parker     13th October 2022 Aim-and ASX-listed African-focused lithium exploration and development company Atlantic Lithium, which is aiming to deliver Ghana’s first lithium mine, has submitted a mining licence (ML) application in respect of the extraction of minerals from the proposed Ewoyaa lithium mine, to the Minerals... 

Exciting part of Eva Copper is near-term production, says Harmony Gold  

By: Martin Creamer     13th October 2022 The exciting part of the Eva Copper project is the near-term production prospect that it brings with it, says Harmony Gold Mining Company investor relations head Jared Coetzer of the Johannesburg- and New York-listed company’s purchase of the Australian copper project, that comes with 2 100 km2... 

Harmony Gold Mining Company Investor Relations Head Jared Coetzer.
The exciting part of the Eva Copper project is the near-term production prospect that it brings with it, says Harmony Gold Mining Company investor relations head Jared Coetzer

MMG to start arbitration against Congo's Gecamines

By: Reuters     13th October 2022 MMG said it plans to launch international arbitration against Congolese state mining company Gecamines after Democratic Republic of Congo armed forces occupied two concessions near its Kinsevere copper mine. Hong Kong-listed MMG said armed forces entered its Nambulwa mining lease on Sept. 16... 

Smith finds permanence at DRA helm

By: Esmarie Iannucci     13th October 2022 ASX- and JSE-listed DRA Global has appointed James Smith as CEO, effective immediately. Smith has been acting as interim CEO since March this year, after Andrew Naude in March announced that he would be stepping aside after nine years at the helm. 

QRC welcomes EPOLA Bill

By: Esmarie Iannucci     13th October 2022 The Queensland Resources Council (QRC) has welcomed the introduction of the Environmental Protection and Other Legislation Amendment (EPOLA) Bill to the Queensland Parliament. The reforms proposed by the EPOLA bill will provide greater certainty for the community and industry, including a... 

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