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Australasia News

Lower commodity prices hit Rio's bottom line

By: Esmarie Iannucci     27th July 2022 Mining major Rio Tinto has seen a 28% drop in profits after tax for the interim period of 2022, and a 26% fall in underlying earnings before interest, tax, depreciation and amortisation (Ebitda), when compared with the same period in the 2021 financial year. The miner on Wednesday reported a... 

Mincor announces leadership transition

By: Esmarie Iannucci     27th July 2022 Nickel miner Mincor Resources on Wednesday announced that MD an CEO David Southam would step down. Mincor told shareholders that the decision reflected Southam’s view that this is a logical stage in Mincor’s lifecycle for a leadership transition with the company returning to nickel production... 

Iron Road moves ahead with Cape Hardy process

By: Esmarie Iannucci     27th July 2022 ASX-listed Iron Road will proceed with an expression of interest (EoI) process for its Cape Hardy green hydrogen hub, after its market-sounding process proved successful. The company on Wednesday said that a shortlist of ten domestic and international green hydrogen proponents have requested to... 

Genmin receives Anglo American royalty

By: Esmarie Iannucci     27th July 2022 Junior iron-ore explorer Genmin has received it’s $10-million cash royalty payment from mining major Anglo American after earlier striking a royalty agreement over the Baniaka iron-ore project, in Gabon. Under the agreement, Anglo American paid $10-million to Genmin subsidiary Gabon Iron Ore... 

St Barbara targets more cost cuts

By: Esmarie Iannucci     27th July 2022 Gold miner St Barbara is targeting a slew of cost saving initiatives between now and 2024. In its quarterly report for the period ended June, the company told shareholders that the move of its head office from Melbourne to Perth at the end of August, would enable an initial A$5-million of... 

IGO revenue rises in June quarter

By: Esmarie Iannucci     27th July 2022 Battery metals miner Independence Group (IGO) has reported a 13% increase in sales revenue and an 11% increase in underlying earnings before interest, tax, depreciation and amortisation (Ebitda) for the quarter ended June. Sales revenue in the June quarter reached A$277.9-million, up from the... 

Image shows a nickel mine

Steel market embracing need for decarbonisation, says Kumba Iron Ore  

By: Martin Creamer     26th July 2022 At a time when steelmakers the world over are taking strong steps to decarbonise steelmaking, Kumba Iron Ore’s high-quality, high-lump iron-ore is highly sought after, which positions the Johannesburg Stock Exchange-listed mining and marketing company well in the global fight against climate... 

Kumba Iron Ore CEO Mpumi Zikalala.
Kumba Iron Ore results presentation covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Rio Tinto, Fortescue record profits near end on price view, dim demand

By: Reuters     26th July 2022 Australian iron-ore miners Rio Tinto and Fortescue Metals Group are unlikely to see a repeat of record profits booked in recent years as they face soaring costs, falling prices and a tight labour market. Rio Tinto, the world's biggest iron-ore producer, may see its first-half earnings drop by... 

DRA Projects, Fraser Alexander reach settlement on Elikhulu project claims

By: Tasneem Bulbulia     26th July 2022 Diversified global engineering, project delivery and operations management group DRA Global’s subsidiary DRA Projects and mining services company Fraser Alexander have reached a settlement in respect of all claims between the parties, prior to the start of an arbitration hearing related to the... 

Copper rises on supply risks and softening dollar

By: Reuters     26th July 2022 Copper prices rose on Tuesday, as supply risks flagged by major producers offset demand concerns, while a softening dollar made the metal cheaper for holders of other currencies. Three-month copper on the London Metal Exchange rose 2.2% to $7 640/t by 07:09 GMT, while the most-traded September... 

Court backs Vimy/Deep Yellow deal

By: Esmarie Iannucci     26th July 2022 The Supreme Court of Western Australia has backed a A$658-million merger between ASX-listed Vimy Resources and fellow listed Deep Yellow. The two companies in April announced the merger agreement under which Deep Yellow would acquire all of the shares in ASX-listed Vimy, with Vimy shareholders... 

Kumba Iron Ore excited by President’s energy plan, working earnestly on carbon reduction 

By: Martin Creamer     26th July 2022 Kumba Iron Ore CEO Mpumi Zikalala on Tuesday expressed excitement at the energy announcement of President Cyril Ramaphosa, who unveiled several far-reaching interventions, including a doubling in the allocation for the next renewables procurement round, an uncapping of the 100 MW... 

Kumba marketing and seaborne logistics executive head Timo Smit.
Kumba marketing and seaborne logistics executive head Timo Smit.

Origin works to maintain its stake in UK's Octopus

By: Esmarie Iannucci     26th July 2022 Energy producer Origin Energy will invest an additional £94-million in UK technology and energy company Octopus Energy Group to maintain its 20% equity interest. Since Origin’s last investment in September 2021, Octopus has made significant progress across its retail, renewable energy, and... 

Jupiter Mines gets new leadership

By: Esmarie Iannucci     26th July 2022 Manganese miner Jupiter Mines has appointed Brad Rogers as MD and CEO, effective from August 1, replacing non-executive director Scott Winter, who has been acting CEO since November last year. Rogers will join Jupiter from mining logistics company Bis Industries (Bis), where he has been MD and... 

Galena to raise A$17m

By: Esmarie Iannucci     26th July 2022 Base metals developer Galena Mining has raised A$17-million in a share placement, which was significantly oversubscribed. The company on Tuesday announced that it has accepted binding commitments for the placement of 136-million shares, at a price of 12.5c each. 

Havilah and Oz Minerals advance Kalkaroo deal

By: Esmarie Iannucci     26th July 2022 ASX-listed Havilah Resources has executed definitive transaction documents with fellow listed copper/gold miner Oz Minerals and its exploration arm Oz Exploration over the Kalkaroo copper project, in South Australia. Under the agreement, Oz Minerals will have 18 months to evaluate the potential... 

Thiess strikes a deal with MACA

By: Esmarie Iannucci     26th July 2022 ASX-listed mining services provider Thiess has made an all-cash takeover offer for fellow listed MACA. Under a recommended takeover offer, Thiess is offering Maca shareholders A$1.025 a share in cash, representing a 42.4% premium to MACA’s one-month volume weighted average share price. 

Image shows a handshake

BHP starts erecting solar panels in WA

By: Esmarie Iannucci     26th July 2022 The first solar panels at mining major BHP’s Leinster nickel operations, in the Northern Goldfields, are being installed. The Northern Goldfields solar project, to be constructed and owned by one of BHP Nickel West’s renewable energy partners TransAlta, includes a 27.4 MW solar farm at Mt Keith... 

Gov introduces climate Bill to Parliament

By: Esmarie Iannucci     26th July 2022 The federal government will introduce the Climate Change Bill 2022 into Parliament to enshrine the nation’s commitment to reduce greenhouse gas emissions by 43% below 2005 levels by 2030, and net zero by 2050, into law. Climate Change and Energy Minister Chris Bowen said that legislating... 

MMG suspends copper output guidance after Las Bambas protests in Peru

By: Reuters     25th July 2022 Chinese miner MMG on Monday said it had suspended its copper production targets for the year following a 60% output drop due to a long protest at its Las Bambas mine in the Peruvian Andes, which significantly disrupted operations. MMG had previously expected to produce 300 000 t to 320 000 t of... 

MMG suspends copper output guidance after Las Bambas protests in Peru

Newmont warns of project cost increases in Australia, Ghana

By: Mariaan Webb     25th July 2022 Global bullion major Newmont has flagged delays and cost increases at its expansion projects in Australia and Africa, citing current market conditions for labour and materials, as well as delayed land access in Ghana. The $395-million Tanami Expansion 2 project, in Australia’s Northern... 

Newmont warns of project cost increases in Australia, Ghana

Newmont warns inflation to spike costs in 2023

By: Reuters     25th July 2022 Newmont on Monday raised its annual cost forecast and warned that inflationary pressures would persist into 2023 after its second-quarter profit missed Street estimates, sending the world's biggest gold miner's shares down 12%. Higher operating costs related to labor, energy and supplies have... 

Decarbonisation, renewables can create new economic sectors in SA – Anglo Platinum 

By: Martin Creamer     25th July 2022 JOHANNESBURG (miningweekly.com) – Anglo American Platinum CEO Natascha Viljoen on Monday expressed the firm belief that decarbonisation and renewable energy have the potential to create new economic sectors in South Africa. On the renewable energy front, Viljoen also revealed that Anglo Platinum... 

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

South32 still hunting for a buyer for Eagle Downs

By: Esmarie Iannucci     25th July 2022 Diversified miner South32 is still hunting for a buyer for its interest in the Eagle Downs metallurgical coal project, in Queensland. South32 in 2018 completed the acquisition of a 50% interest in Eagle Downs project, paying A$106-million up-front, with a further A$27-million payable three years... 

South32 achieves record monthly output at its South African manganese operations

By: Marleny Arnoldi     25th July 2022 Diversified miner South32’s South African manganese operations produced 2.07-million tonnes of ore for the financial year ended June 30 – a similar level to that produced in the 2021 financial year. The company says it produced higher volumes of premium material from its openpit Mamatwan... 

Ford’s flurry of supply deals gives iron a starring role in EVs

By: Bloomberg     25th July 2022 Ford Motor’s new laundry list of battery-metals suppliers reads like a who’s who of the mining world, spanning the globe from Argentine lithium to Indonesian nickel. The agreements, including announcements with mega miners BHP Group and Rio Tinto Group, are the latest sign of how big automakers... 

OceanaGold puts geographic managers in place

By: Esmarie Iannucci     25th July 2022 Dual listed gold miner OceanaGold has announced the creation of a COO role for the Asia Pacific and America’s regions, as well as the role of chief technical and projects officer. The ASX- and TSX-listed miner has reported that current COO Scott Sullivan will transition to the new chief... 

South32 sticks to plan in June quarter

By: Esmarie Iannucci     25th July 2022 Diversified miner South32 has seen production increases in alumina, aluminium, copper, nickel and manganese ore for the three months to June, with operations delivering to plan despite weather impacts and labour availability issues. “Our teams delivered another strong operating performance in... 

Anglo Platinum declares R21bn dividend, levers R71bn half-year societal underpin 

By: Martin Creamer     25th July 2022 Platinum group metals (PGMs) mining and marketing company Anglo American Platinum on Monday declared a gross interim dividend of R21.5-billion from profits accrued during the six-month period ended June 30, when it made a R71-billion economic contribution to society. The dividend is equivalent to... 

Creamer Media picture
Photo by Creamer Media
Anglo American Platinum CFO Craig Miller

Morella raises cash for lithium exploration

By: Esmarie Iannucci     25th July 2022 Junior Morella Corporation will raise A$7.5-million to support its lithium growth strategy in Western Australia and Nevada. The ASX-listed company on Monday announced that had received firm commitments for the placement of 500-million shares, in a single tranche, and at an issue price of 1.5c... 

Commissioning starts at Angel power plant

By: Esmarie Iannucci     25th July 2022 Commissioning of a 380 MW power plant within the Indonesia Weda Bay Industrial Park (IWIP) has started, ASX-listed Nickel Industries reported on Monday. The power plant will feed the Angel nickel project, in which Nickel Industries holds an 80% interest. 

Oz Minerals lowers production targets

By: Esmarie Iannucci     25th July 2022 Copper/gold miner Oz Minerals has adjusted its full year copper production expectations to account for a softer start to the year. Copper production expectations have been lowered from the previous estimate of between 127 000 t and 149 000 t, to between 120 000 t and 135 000 t, reflecting the... 

Appian to invest in Altamin's Gorno zinc project

By: Esmarie Iannucci     25th July 2022 ASX-listed Altamin as struck a binding term sheet with Appian Natural Resources Fund II to joint venture on the Gorno zinc project, in Italy. Appian, which is a global specialist mining private equity fund, would invest up to A$94-million to earn a 67.4% interest in the Gorno project. 

Image shows stacked zinc bars

Boss kicks it into gear at Honeymoon

By: Esmarie Iannucci     25th July 2022 Uranium developer Boss Energy has ramped up construction and development work at it’s A$113-million Honeymoon project, in South Australia. Boss in June approved the capital spend to develop the Honeymoon project, which is expected to have a mine life of more than ten years, at a production rate... 

Europe leads even though sun, wind, storage, green electron/molecule energy is tailor made for South Africa 

By: Martin Creamer     22nd July 2022 This week the European Commission approved €5.4-billion of public support by 15 member states for a hydrogen technology value chain taking in hydrogen generation technology, fuel cells technology, storage technology and end-user technology. The week before, Shell started building Europe’s largest... 

The European Commission approval of €5.4-billion took in backing from Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Slovakia and Spain.
The European Commission approval of €5.4-billion took in backing from Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, Poland, Portugal, Slovakia and Spain.

A green hydrogen economy depends on this little-known machine

By: Bloomberg     22nd July 2022 Solar power depends on the solar cell. Wind power, the wind turbine. The key to the green hydrogen economy is a little-known machine with a name out of 1950s sci-fi — the electrolyser. And after a century of obscurity, the electrolyser’s moment has come. 

Iluka shareholders approve demerger

By: Esmarie Iannucci     22nd July 2022 The overwhelming majority of shareholders in Iluka Resources have approved the demerger of the company’s Sierre Rutile business, in Sierrea Leone, into a separately listed entity. Iluka on Friday said that 99.95% of the company’s shareholders had voted in favour of the spin-out under which Iluka... 

GME improves NiWest economics

By: Esmarie Iannucci     22nd July 2022 ASX-listed GME Resources has updated the economics and cost estimates for its NiWest nickel/cobalt project, in Western Australia. A 2018 prefeasibility study (PFS) estimated that the project could produce 456 000 t of nickel and 31 400 t of cobalt over a 27-year mine life, based on a nameplate... 

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