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Australasia News

Lynas awards major contract in Kalgoorlie

By: Esmarie Iannucci     11th October 2022 Rare earths miner Lynas has awarded a near A$33-million contract to Australian industrial services company WestStar Industrial at its rare earths processing facility in Kalgoorlie. WestStar’s engineering construction business, Alltype Engineering has been a contract for the fabrication and... 

NT's Gunner joins FFI team

By: Esmarie Iannucci     11th October 2022 Green energy developer Fortescue Future Industries (FFI) has appointed former Northern Territory chief minister Michael Gunner to lead the company’s new northern Australia team. Gunner will start as FFI Head of Northern Australia in November after his period of work restriction under the... 

Syrah restarts operations in Mozambique

By: Esmarie Iannucci     11th October 2022 Graphite miner Syrah Resources has initiated a restart of operations at its Balama project, in Mozambique, after illegal industrial action by a small contingent of local employees and contractors halted production in September. Syrah told shareholders on Tuesday that the company had consulted... 

Alchemy raises exploration cash

By: Esmarie Iannucci     11th October 2022 Junior explorer Alchemy Resources will raise A$5.5-million to fund drilling work at its tenements in Western Australia and New South Wales. The ASX-listed company on Tuesday said it had received support for the placement of 220-million shares, at a price of 2.5c each, from sophisticated and... 

Kore receives EPC proposal for Kola potash project

By: Darren Parker     10th October 2022 JSE, ASX and Aim-listed potash development company Kore has reported that, after several delays caused by multiple Covid-19 lockdowns in China, SEPCO Electric Power Construction Corporation – a subsidiary of Power Construction Corporation of China – has delivered the engineering, procurement and... 

South Africa takes 354 days to issue prospecting right, Botswana does it in 40 

By: Martin Creamer     10th October 2022 Why does it take 354 working days for South Africa’s Department of Mineral Resources and Energy (DMRE) to issue a prospecting right which Botswana accomplishes in 40 days? Mineral Council South Africa CEO Roger Baxter put that rhetorical question to the Joburg Indaba under a broad comment of what... 

Minerals Council South Africa CEO Roger Baxter.
Minerals Council South Africa CEO Roger Baxter.

MinRes puts its lithium cards on the table

By: Esmarie Iannucci     10th October 2022 ASX-listed Mineral Resources (MinRes) is hoping to produce up to 118 000 t/y of lithium hydroxide within the next five years. In an investor presentation released to market on Monday, the company noted that the Mt Marion operation could contribute some 40 000 t/y, while the Wodgina operation... 

Mahenge costs increase

By: Esmarie Iannucci     10th October 2022 An independent review of the front-end engineering and design (FEED) and an updated definitive feasibility study (eDFS) for the Mahenge graphite project, in Tanzania, has increased the project’s costs from the $116-million considered in the 2019 definitive feasibility study to $182-million.... 

New De Beers CEO from early 2023 when Cleaver elevates to co-chair 

By: Martin Creamer     10th October 2022 With effect from early 2023, Al Cook has been announced as the new CEO of De Beers Group and current CEO Bruce Cleaver as co-chairperson. This follows Cleaver’s decision to step back after six years to a non-executive role, Anglo American CE and De Beers Group chairperson Duncan Wanblad stated in... 

Al Cook has been announced as the new CEO of De Beers Group.
Al Cook has been announced as the new CEO of De Beers Group.

Australian Pacific completes share placement

By: Esmarie Iannucci     10th October 2022 ASX-listed Australian Pacific has completed the placement of more than 294.3-million fully paid ordinary shares as part of its fully underwritten pro rata renounceable entitlement offer to raise A$100-million. The company in September struck a deal with two of its suitors and its creditor and... 

Aurelia looking at funding after Federation study

By: Esmarie Iannucci     10th October 2022 ASX-listed Aurelia Metals on Monday said it was considering a ‘range of funding options’ for its Federation project, in New South Wales, following a positive feasibility study (FS). The study was based on the development of an underground mining operation at the Federal deposit, with the ore to... 

Calls for input into Safeguard Mechanism credits

By: Esmarie Iannucci     10th October 2022 The federal government has opened consultation on draft legislation to reward industrial facilities that stay below their emissions baselines, and give other facilities a new, low-cost way of reducing net emissions. The draft Safeguard Mechanism (Crediting) Amendment Bill 2022 provides a legal... 

Taxes making mining uncompetitive - report

By: Esmarie Iannucci     10th October 2022 A new study by the Minerals Council of Australia (MCA) have shown that uncompetitive tax rates have already dragged Australia’s investment effort over the past seven years, hampering productivity and wages growth. The report, written by the University of Calgary’s Philip Bazel and Jack Mintz,... 

Technology Metals finds offtake partner in Tata

By: Esmarie Iannucci     10th October 2022 ASX-listed vanadium developer Technology Metals Australia has struck a memorandum of understanding (MoU) with India’s Tata Steel regarding the potential offtake of vanadium pentoxide and other downstream vanadium products from the Murchison technology metals project (MTMP), in Western Australia.... 

Gold Road sales from Gruyere dip

By: Esmarie Iannucci     10th October 2022 Gold miner Gold Road Resources has reported gold sales of 39 524 oz in the September quarter, down slightly from the record 44 526 oz sold in the previous quarter. The miner on Monday reported that the Gruyere joint venture, in Western Australia, delivered 83 635 oz of gold during the quarter,... 

Finniss ribbon cut

By: Esmarie Iannucci     10th October 2022 Lithium developer Core Lithium has officially opened its Finniss lithium miner, in the Northern Territory, and has awarded a major contract. The Stage 1 Finniss project, comprising an openpit operation and underground operation, would requires an initial capital investment of A$89-million to... 

Tokyo Gas makes space for EIG in $2.15bn deal

By: Esmarie Iannucci     10th October 2022 Institutional investor EIG, through its liquefied natural gas (LNG) company MidOcean Energy has finally landed in Australia, striking a $2.15-billion deal with Tokyo Gas to acquire that company’s interest in four Australian integrated LNG project. Tokyo Gas holds a 5% interest in the... 

Image shows a handshake

Jupiter warns Transnet strike could impact Tshipi Borwa operations

By: Darren Parker     7th October 2022 ASX-listed Jupiter Mines has warned the market that nationwide strike action by some employees of South African State-owned rail and port services provider Transnet may affect the Tshipi Borwa manganese mine operations, in the Northern Cape, with regard to its rail logistics and port operations.... 

Allegiance raises first A$15m of A$33.6m target

By: Esmarie Iannucci     7th October 2022 ASX-listed Allegiance Coal has raised an initial A$15-million in the institutional component of it’s A$33.6-million entitlement offer launched earlier this month. The company on October 5 announced an eight-for-five pro-rata renounceable entitlement, priced a 5c a share, to raise A$33.6-million... 

Allkem sets up funding for Sal de Vida

By: Esmarie Iannucci     7th October 2022 ASX-listed lithium developer Allkem has signed a non-binding term sheet with the International Finance Corporation (IFC) over a potential $200-million project finance facility for the Sal de Vida project, in Argentina. IFC’s proposed investment comprises a $200-million debt packing, including... 

Stanmore completes SMC buy

By: Esmarie Iannucci     7th October 2022 Coal miner Stanmore Resources has completed the acquisition of the remaining 20% interest in the BHP Mitsui Coal (BMC) assets, which have been renamed Stanmore SMC. The final price for the acquisition was settled at $270-million, after adjusting for SMC dividends paid to date, which has been... 

MCA argues against higher taxes for miners

By: Esmarie Iannucci     7th October 2022 The Minerals Council of Australia (MCA) said that Australia needed to attract more investment in exploration, mining, minerals processing and mining-related manufacturing if the economy is going to benefit from growing global demand for minerals and metals. “There is strong competition for this... 

Sheffield green-lights Thunderbird

By: Esmarie Iannucci     7th October 2022 A final investment decision (FID) on the Stage 1 development of the Thunderbird mineral sands project, in Western Australia, has been taken by ASX-listed Sheffield Resources. The FID comes just days after Sheffield announced that its subsidiary Kimberley Mineral Sands (KMS) has secured a... 

Image shows piled mineral sands

Arena supports Gibson Island hydrogen plans

By: Esmarie Iannucci     7th October 2022 The Australian Renewable Energy Agency (Arena) has awarded A$13.7-million in funding to green energy developer Fortescue Future Industries (FFI) and its partner Incitec Pivot (IPL) to fund a front-end engineering and design (FEED) study for the development of a large-scale renewable hydrogen... 

First US cobalt mining operation to begin after more than 30-year hiatus

By: Bloomberg     7th October 2022 Booming demand for batteries powering the world’s shift into electric vehicles is rekindling US cobalt production after a nearly 30-year hiatus. Jervois Global is starting the first US cobalt mine in Idaho on Friday, according to chief executive Bryce Crocker. The mineral sits “at the top of the... 

An image of cobalt mining in the DRC

Development is only conversation South Africa should be having, Cutifani tells Joburg Indaba  

By: Martin Creamer     6th October 2022 Development is the only conversation that South Africa should be having, former Anglo American CEO, director and consulting business executive Mark Cutifani said amid strong applause at the Joburg Indaba on Thursday – and mining should be recognised as an industry that can serve as a very... 

Former Anglo America CEO, director and consulting business executive Mark Cutifani.
Mark Cutifani’s address to the Joburg Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Drilling indicates potential for Bird Reef Central to be uranium/gold project

By: Tasneem Bulbulia     6th October 2022 ASX-listed West Wits Mining says the assay results from three diamond holes of a Phase 1 uranium drilling programme at the Witwatersrand Basin Project (WBP) underscore the Bird Reef Central area’s potential to be a uranium/gold project. The objective of the drilling programme was to confirm... 

Harmony diversifies with $230m Australia copper acquisition 

By: Mariaan Webb     6th October 2022 South Africa-headquartered Harmony Gold is extending its diversification drive, announcing on Thursday that it would buy a copper/gold project in Australia for up to $230-million. The JSE- and NYSE-listed gold miner will buy the Eva Copper project and its 2 100 km2 exploration land from TSX- and... 

An image of Harmony CEO Peter Steenkamp
Harmony CEO Peter Steenkamp says the acquisition provides meaningful diversification.

Rio gets its way in deal with ERA

By: Esmarie Iannucci     6th October 2022 ASX-listed Energy Resources of Australia (ERA) has entered into an amended A$100-million loan agreement with mining major Rio Tinto, with ERA’s independent directors, including its chairperson Peter Mansell, stepping down. Rio at the start of the week called for Mansell's resignation just days... 

Image shows Rio Tinto logo on building

Lake Resources finds offtake partner at Kachi

By: Esmarie Iannucci     6th October 2022 Lithium developer Lake Resources has reached a conditional framework agreement (CFA) with commodity supply solution provider WMC Energy over the potential offtake of up to 25 000 t/y of battery grade lithium from the Kachi project, in Argentina, and a potential 10% stake in Lake. Under the... 

Big green hydrogen project on way via European/Australian partnership

By: Martin Creamer     6th October 2022 An integrated green hydrogen project to help Europe mitigate its current energy and climate crisis and to bring green molecules to Europe is being brought about by a European-Australian partnership. The key personalities developing what is described as the world’s largest green hydrogen... 

 	Fortescue Future Industries (FFI) executive chairperson and founder Dr Andrew Forrest.
Fortescue Future Industries (FFI) executive chairperson and founder Dr Andrew Forrest.

Jaguar still on time for 2025 start

By: Esmarie Iannucci     6th October 2022 First production from the Jaguar nickel mine, in Brazil, is still being targeted for 2025, although late in the year, ASX-listed Centaurus Metals MD Darren Gordon told delegates at the Paydirt Nickel conference, in Perth. Centaurus earlier this week flagged a delay to the completion of its... 

Mincor focused on ramp-up

By: Esmarie Iannucci     6th October 2022 Nickel miner Mincor Resources’ focus in 2023 will be on ramping up production, company chairperson Brett Lambert told delegates at the Paydirt Nickel conference, in Perth. Mincor has two producing assets in Kambalda, the Northern Operations and Cassini, and the company is working towards ramping... 

Climate systems ‘breakdown’ looms as coal investments soar

By: Bloomberg     6th October 2022 The coal industry has backtracked on pledges to phase out existing plants and halt new investments, putting the planet on a trajectory that could lead to a “breakdown of our climate systems", according to a study led by nonprofit Urgewald. As warnings from climate scientists “become more and... 

An image of a freight train transports coal in New South Wales, Australia
A freight train transports coal in New South Wales, Australia

Arena awards funding for wind power study for Portland smelter

By: Esmarie Iannucci     6th October 2022 The Australian Renewable Energy Agency (Arena) has awarded A$1.5-million in funding to Alinta Energy subsidiary Spinifex Offshore Wind Farm to conduct a wind resource assessment and accelerate early-stage development activities for a 1 000 MW offshore wind farm project off the coast of Portland,... 

Fenix marks production milestone

By: Esmarie Iannucci     6th October 2022 ASX-listed junior Fenix Resources has marked a major milestone, producing and selling two million tonnes a year of iron-ore from its flagship Iron Ridge project, in Western Australia. “The production and sale of two-million tonnes of high-quality iron ore products from Iron Ridge is an... 

Gold Road invests A$26m to maintain De Grey shareholding

By: Esmarie Iannucci     6th October 2022 Gold miner Gold Road Resources will invest more than A$25.98-million into ASX-listed De Grey Mining to maintain its 19.99% shareholding in the company. De Grey this week launched a A$130-million fully underwritten share placement, placing 130-million shares at a price of A$1 each.  

Honeymoon restart clears another hurdle

By: Esmarie Iannucci     6th October 2022 The South Australian Department of Energy has approved uranium developer Boss Energy’s updated Programme for Environment Protection and Rehabilitation (PEPR) at the Honeymoon uranium project. Approval for the updated PEPR is a key regulatory document required under the Mining Act for the restart... 

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