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Australasia News

Santos gets $1.4bn offer for stake in PNG LNG

By: Esmarie Iannucci     27th September 2022 Oil and gas major Santos is mulling the sale of a 5% interest in the Papua New Guinea liquefied natural gas (PNG LNG) project after receiving a binding conditional offer from PNG national oil and gas company, Kumul Petroleum Holdings. Kumul is offering $1.4-billion for the stake, including a... 

Thunderbird project secures LNG supply

By: Darren Parker     26th September 2022 ASX-listed Sheffield Resources’ 50%-owned Kimberley Mineral Sands (KMS) has secured liquefied natural gas (LNG) for the Thunderbird mineral sands project, in northern Western Australia. KMS executed a binding five-year agreement – with the ability for the parties to extend for a further five... 

Syrah reports 'illegal' industrial action at Mozambique graphite mine

By: Mariaan Webb     26th September 2022 ASX-listed Syrah Resources’ share price fell 18% on Monday, as the company exited its trading halt and announced that operations at its Balama graphite mine, in Mozambique, had been interrupted by “illegal industrial action”. The company halted operations at Balama last week Tuesday, owing to... 

Grim demand outlook pushes copper prices to 2-month low

By: Reuters     26th September 2022 Copper prices dropped to two-month lows on Monday as fears of a global growth slowdown, weaker demand, a higher dollar and climbing stocks in London Metal Exchange (LME) registered warehouses sparked a sell-off. Benchmark copper CMCU3 on the LME was down 0.8% at $7 375 a tonne at 09:45 GMT. 

Atlantic Lithium starts trading on ASX

By: Marleny Arnoldi     26th September 2022 Ghana-focused lithium developer Atlantic Lithium has started trading on the ASX. The company’s secondary listing for 22.8-million shares, at a price of A$0.58 apiece, was fully subscribed to investors in Australia, New Zealand, Hong Kong and Singagore, on September 26.  

Invictus Energy starts drilling first exploration well in Zimbabwe

By: Reuters     26th September 2022 Australian-listed Invictus Energy has started drilling one of two exploration wells for oil and gas in the northern part of Zimbabwe, the company said on Monday. The 3.5-km deep well, situated in the Muzarabani-Mbire area, is part of the Cabora Bassa project in Zimbabwe, which is 80% owned and... 

Al Gore calls out 'greenwashing' risks as funds quit green club

By: Bloomberg     26th September 2022 Al Gore, the former US vice president turned climate activist, said investors are growing increasingly impatient with evidence of potential “greenwashing” amid signs that net-zero pledges made by some members of the financial industry weren’t credible. Gore, who spoke in an interview just before... 

An image of Al Gore
Al Gore

Energy and chemicals executive appointed Vulcan deputy CEO

By: Creamer Media Reporter      26th September 2022 ASX-listed Vulcan Energy has appointed Cris Moreno, an energy and chemicals industry executive based in Europe, as its deputy CEO with effect from November 1. Moreno has more than 20 years’ experience in delivering major capital projects, including in the lithium chemicals, cathode and liquefied... 

Firefinch puts breaks on A$90m placement  

By: Darren Parker     26th September 2022 The recapitalisation plan that Australia-based Firefinch unveiled last week to put its Morila gold mine, in Mali, back on track has hit a speed bump.   The ASX-listed company on Monday cancelled its proposed placement, citing recent downward movements in the US dollar gold price and the... 

The Morila mine in Mali
The Morila mine in Mali

Greenland Minerals dealt setback in legal fight for rare earth project licence

By: Reuters     26th September 2022 Australia's Greenland Minerals said on Monday an arbitration tribunal had declined its request for interim orders against the Greenland government's draft decision to reject the miner a licence for the Kvanefjeld rare-earths project. The company had, in July, lodged an objection against the... 

An image of Greenland Minerals' Kvanjefield area

Australian mining firm IPOs lag on board gender balance

By: Bloomberg     26th September 2022 New Australian stock exchange listings are lagging the broader market in terms of board gender diversity, with just 12.2% of directorships at companies that went public in recent years held by women. The issue was particularly acute for the materials industry. The sector, which accounted for... 

South Africans urged to turn exploration into Big Hairy Audacious Goal   

By: Martin Creamer     24th September 2022 South Africans have been urged to rally around exploration as this country's Big Hairy Audacious Goal – a BHAG – so that what is described as "our lowest hanging economic fruit" can be turned to positive account. Council for Geoscience CEO Mosa Mabuza, who was speaking in support of the junior... 

Council of Geoscience CEO Mosa Mabuza.
Council for Geoscience CEO Mosa Mabuza, covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

New fund-raising product appropriate for junior miners, says JSE  

By: Martin Creamer     23rd September 2022 The JSE has a new product that is appropriate for fund-raising by junior mining companies, JSE origination and deals head Sam Mokorosi said on Friday. Mokorosi, who was speaking at Minerals Council South Africa’s Junior and Emerging Miners Desk webinar, highlighted the new product against the... 

JSE origination and deals head Sam Mokorosi.
Minerals Council South Africa’s Junior Miner Webinar covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Green hydrogen at sea on world-first offshore demonstrator platform  

By: Martin Creamer     23rd September 2022 The world’s first offshore green hydrogen production demonstrator platform has been positioned offshore of France. “This is the first time that renewable hydrogen will be produced at sea,” French company Lhyfe stated in a release to Engineering News & Mining Weekly. (Also watch attached Creamer... 

Lhyfe producing green hydrogen at sea.
Green hydrogen at sea initiative. Lhyfe technical director Thomas Créach interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Rio funds Mongolian forrest fight

By: Esmarie Iannucci     23rd September 2022 Diversified miner Rio Tinto has announced $2.3-million in funding to help protect forests in Mongolia. The company signed a three-year partnership agreement with the Ministry of Environment and Tourism of Mongolia (MET) and the International Conservation Caucus Foundation (ICCF), which aims to... 

Encounter raises exploration funding

By: Esmarie Iannucci     23rd September 2022 Junior Encounter Resources will raise A$4-million in a share placement to accelerate copper, lithium and rare earths exploration in the Northern Territory and Western Australia. The ASX-listed company has received firm commitments for the placement of some 33.3-million shares, at a price of 12c... 

Woodside signs up to zero methane emissions initiative

By: Esmarie Iannucci     23rd September 2022 Energy major Woodside has become the first Australian company to join the Aiming for Zero Methane Emissions Initiative. By signing the initiative Woodside is committing to striving to reach near-zero methane emissions from its operated assets by 2030. 

Scholarships up for grab for mine rehab plans

By: Esmarie Iannucci     23rd September 2022 The Queensland Resources Council (QRC) is offering up more than A$200 000 in student scholarships in a bid to develop innovative ways to improve land rehabilitation in Queensland coal mines. Queensland Resources Minister Scott Stewart said applications were now open for the QRC Coal Mine Site... 

Copper prices averaging lower than expected this year, but major uptick looms

By: Marleny Arnoldi     23rd September 2022 Research agency Fitch Solutions Country Risk & Industry Research has revised downward its copper price forecast for this year to about $8 800/t, down from $9 470/t it anticipated previously. The agency says investor sentiment for copper has been weakening, as has demand for the base metal, in... 

Russian aluminium imports are hurting US market, Rio Tinto CEO warns

By: Bloomberg     23rd September 2022 Rio Tinto's top executive is raising the alarm that the unfettered flow of Russian aluminum into the US is making North American producers less competitive. Russian imports, which remain exempt from US sanctions, are flowing into the country unrestricted when allies like Australia continue to... 

Russian aluminium imports are hurting US market, Rio Tinto CEO warns

China may find it hard to cool lithium’s rally this time around

By: Bloomberg     23rd September 2022 Scorching gains for lithium, a raw material vital for powering electric vehicles, threaten to push costs even higher for Chinese battery makers, and the government is finding itself powerless to do anything about it. Even after a meeting last week where Chinese authorities pleaded with major... 

An image of lithium ore

US gathers resource-rich nations to push minerals security pact 

By: Bloomberg     23rd September 2022 The Biden administration plans to use a gathering of resource-rich nations to spur new investment as part of its bid to shift the supply chain for rare-earths minerals away from China. The Minerals Security Partnership between the US, EU, Japan and other wealthy nations is holding a ministerial... 

US President Joe Biden
US President Joe Biden

Jervois gets enviro approval for SMP Stage 1

By: Esmarie Iannucci     23rd September 2022 ASX- and TSX-V listed Jervois Global has been awarded an Environmental Installation License, or LPI, for its São Miguel Paulista (SMP) nickel cobalt refinery in São Paulo, Brazil. The company said on Friday that the licence from the state environmental regulator, Companhia Ambiental do Estado... 

SSR restarts Ҫopler

By: Esmarie Iannucci     23rd September 2022 US-based SSR Mining will restart operations at its Ҫӧpler mine, in Turkey, after receiving the required regulatory approvals from the Turkish government. The company in June this year temporarily suspended operations at the mine following a cyanide spill. 

Aus joins renewable energy initiative

By: Esmarie Iannucci     23rd September 2022 Australian Climate Change and Energy Minister Chris Bowen has signed a letter of intent with US Special Presidential Envoy for Climate John Kerry, to break down barriers for US companies to invest in Australia’s clean energy industries. Bowen has signed up for the US’ Clean Energy Demand... 

OZ Minerals takes A$1.7bn FID at West Musgrave

By: Esmarie Iannucci     23rd September 2022 Copper miner OZ Minerals has taken a final investment decision on the A$1.7-billion West Musgrave copper/nickel project, in Western Australia. All key regulator approvals for the project are in place, and OZ has signed land access agreement with Traditional Owners in the region, as well as... 

Image shows molten copper

Rio signs green-steel agreement with Shougang

By: Esmarie Iannucci     23rd September 2022 Major Rio Tinto has signed a memorandum of understanding (MoU) with major steel producer Shougang Group to promote research, design and implementation of low-carbon solutions for the steel value chain. The MoU’s focus areas include low-carbon sintering technology, blast furnace (BF) and basic... 

Northern Cape’s proposed green hydrogen hub can help open region’s full energy potential 

By: Martin Creamer     22nd September 2022 The Boegoebaai green hydrogen hub in the Northern Cape can be a strategic project to open Southern Africa’s full green energy potential. A 24-month study of the strategic potential of the hub is within a hair’s breadth of reaching the halfway mark. 

Sasol hydrogen programme management head Rilet Davison.
Sasol hydrogen programme management head Rilet Davison.

Rio Tinto, Shougang to collaborate on finding low-carbon solutions in the steel value chain

By: Creamer Media Reporter      22nd September 2022 Diversifed miner Rio Tinto and Chinese steel producer Shougang Group have signed a memorandum of understanding (MoU) to promote research, design and implementation of low-carbon solutions for the steel value chain. The MoU’s focus areas include low-carbon sintering technology, blast furnace (BF)... 

Photo of a steel blast furnace

Saskatchewan provides support for REE processing facilities

By: Mariaan Webb     22nd September 2022 The Saskatchewan government has this week announced C$7.5-million in funding to support rare earth elements (REE) processing facilities in the province. Rare earths company Vital Metals received an interest-free, repayable contribution of C$5-million to install equipment and start processing... 

ICMM roadmap aims to assist in drastically reducing tailings waste 

By: Tasneem Bulbulia     22nd September 2022 Member organisation the International Council on Mining and Metals (ICMM) has published a Tailings Reduction Roadmap, which outlines approaches and solutions that it posits are capable of considerably reducing tailings from the mine life cycle, as part of a broader Tailings Innovation Initiative.... 

A satellite image of the Jagersfontein area after a tailings dam collapsed on September 11
A satellite image of the Jagersfontein area after a tailings dam collapsed on September 11

Top gold CEOs say soaring costs will hobble mining industry into 2023

By: Bloomberg     22nd September 2022 The world’s top gold mining executives see cost pressures sticking around into next year, adding to industry headwinds fueled by economic and political uncertainty, supply-chain disruptions and surging interest rates. Those gathering at the Denver Gold Forum this week shared a collective view... 

An image of gold bars

Gold recovers as Russian threats drive investors to safe-haven asset

By: Reuters     21st September 2022 Gold rose on Wednesday as Russian President Vladimir Putin's move to mobilize more troops over the conflict in Ukraine drew investors to the safe-haven asset, offsetting pressure from a firmer dollar and expected US rate hikes. Spot gold rose 0.7% to $1 674.19/oz by 13:48 GMT. US gold futures... 

Rio Tinto CEO makes clear that offer is final on giant copper mine

By: Bloomberg     21st September 2022 Rio Tinto CEO Jakob Stausholm made it clear Tuesday that its offer is final to take over a company that is behind one of the world’s largest copper mines. Speaking during an interview at Bloomberg News headquarters in New York, Stausholm said the world’s second-largest miner has made a full... 

An image of Rio Tinto CEO Jakob Stausholm
Rio Tinto CEO Jakob Stausholm

World’s largest battery-electric mine truck heading for commercial availability in 2024   

By: Martin Creamer     21st September 2022 The world’s largest battery-electric truck for underground mining is on its way to becoming commercially available in 2024. Sandvik’s 65 t TH665B machine removes between 1 t and 2 t of carbon dioxide (CO2) a day, along with heat and noise. 

Jakob Rutqvist, Sandvik VP strategy and commercial for battery and hybrid/electric-vehicles business unit of Sandvik Mining & Rock Solutions.
Sandvik VP Jakob Rutqvist interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

New CEO sees great opportunity to boost efforts to increase platinum investor numbers 

By: Martin Creamer     21st September 2022 New World Platinum Investment Council (WPIC) CEO Trevor Raymond – working closely with WPIC leadership and a wider team – describes as great the opportunity to boost efforts to increase the number of investors globally who are considering allocating to platinum, amid the forceful worldwide... 

New World Platinum Investment Council CEO Trevor Raymond.
New World Platinum Investment Council CEO Trevor Raymond.

Australian Potash improves Lake Wells economics

By: Esmarie Iannucci     21st September 2022 An economic analysis of higher output at the Lake Wells sulphate of potash (SOP) project, in Western Australia, has improved the project’s economics. ASX-listed Australian Potash on Wednesday told shareholders that by increasing production from the planned 170 000 t/y of SOP to 205 000 t/y, the... 

Toro puts a cost on Lake Maitland

By: Esmarie Iannucci     21st September 2022 Capital cost estimates for a standalone uranium/vanadium operation at Lake Maitland, at the Wiluna project, in Western Australia, amount to A$270-million, or $202.5-million. ASX-listed Toro Energy on Wednesday said that the scoping-level estimation of the capital cost had been completed by SRK... 

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