R/€ = 15.54 Change: 0.09
R/$ = 13.86 Change: 0.08
Au 1428.45 $/oz Change: -10.71
Pt 849.87 $/oz Change: -5.57

Australasia News

More miners sign up for JMEI

By: Esmarie Iannucci     5th July 2019 The federal government’s Junior Minerals Exploration Incentive (JMEI) has again been oversubscribed, with 43 companies successfully applying for the A$30-million of available credits for the 2019/20 year, the Association of Mining and Exploration Companies said on Friday. The JMEI is a tax credit... 

Further intervention on the cards for oil, gas sector

By: Esmarie Iannucci     5th July 2019 The Australian Petroleum Production and Exploration Association (Appea) has warned the federal government that market intervention could adversely affect confidence in the oil and gas sector, and could discourage new entrants and supply diversity. The warning comes after a South Australian minor... 

Further intervention on the cards for oil, gas sector

Gold heads for the longest stretch of gains in eight years

By: Bloomberg     5th July 2019 Gold is headed for the longest stretch of weekly gains since 2011 as investors count down to the release of a highly-anticipated US jobs report that could provide clues on the Federal Reserve’s interest rate path. Bullion’s higher for the seventh week as investors bet on looser policy from the... 

Gold heads for the longest stretch of gains in eight years

Strong fundamentals positioning miners to adapt to changing shareholder expectations

By: Simone Liedtke     5th July 2019 Despite the world’s top 40 miners consolidating their performance of the past several years, they are “not getting the credit for it”, according to consultancy PricewaterhouseCoopers’ (PwC’s) ‘Mine 2019: Resourcing the Future’ report, which provides key trends for the mining industry and PwC’s... 

Strong fundamentals positioning miners to adapt to changing shareholder expectations

Blyvoor Gold winning overwhelming support from employees, community 

By: Martin Creamer     4th July 2019 Emerging gold-mining company Blyvoor Gold, which is targeting a resumption of mining at the old Blyvooruitzicht gold mine in the last quarter of this year, is winning overwhelming support from the once liquidated mine’s former employees, as well as the members of the nearby mine community.... 

Blyvoor Gold winning overwhelming support from employees, community
Photo by Creamer Media's Dylan Slater
From left Blyvoor Gold deputy chairperson Richard Floyd, BEE of Blyvoor spokesperson Wels Sempe, Mining Weekly’s Martin Creamer, Blyvoor Gold CEO Alan Smith, Blyvoor Gold spokesperson Joseph Rammusa, Blyvoor Gold chairperson Peter Skeat and Community of Blyvoor spokesperson Johannes Tala.

Iron-ore 'disconnected from fundamentals' after huge rally

By: Bloomberg     4th July 2019 First, iron-ore hit $100 a ton, then it raced straight to $110, and now spot prices are well north of $120: the commodity’s rally has been so strong it’s triggering warnings that the gains have taken the market beyond fundamental drivers and prices are likely set for a pullback. Futures tanked.... 

New association for rare earths established

By: Simone Liedtke     4th July 2019 The global Rare Earth Industry Association (REIA) has been established. Launched with the support of European research and development funding agency EIT RawMaterials, the establishment of REIA comes at a time of trade friction between the US and China, which threatens to impact on the global... 

Metso Minerals, Outotec combine forces

By: Marleny Arnoldi     4th July 2019 Metso Minerals, subsidiary of global industrial company Metso, will merge with Finnish-listed technology company Outotec to form a leading process technology, equipment and services company serving the minerals, metals and aggregate industries. The combined company, to be named Metso Outotec,... 

Metso Minerals, Outotec combine forces
Metso CEO Pekka Vauramo

OceanaGold files for injunction against local govt

By: Esmarie Iannucci     4th July 2019 Gold miner OceanaGold has filed for an injunction to ensure that operations at its Didipio mine site, in the Philippines, continues, after the Governor of Nueva Vizcaya directed local government units to ‘restrain any operations’ of OceanaGold. Following the Governor’s orders, a local government... 

Gindalbie shareholders back Ansteel deal

By: Esmarie Iannucci     4th July 2019 The shareholders of Gindalbie Metals have voted in favour of a takeover offer from shareholder Ansteel. The 2.6c a share takeover offer from Ansteel was announced in March this year, allowing simultaneous plans to demerge Gindalbie’s subsidiary Coda Minerals, which holds the rights to a... 

Apollo faces battle in France

By: Esmarie Iannucci     4th July 2019 ASX-listed Apollo Minerals could be facing a lengthy court battle after the Administrative Court cancelled the exploration license for its Couflens project, in France. The Administrative Court has ruled to cancel the Couflens permit due to a number of process errors in the 2016 granting of the... 

APLNG signs more domestic offtake

By: Esmarie Iannucci     4th July 2019 The project partners of the Australia Pacific liquefied natural gas (APLNG) project on Thursday announced that an additional 16.2 PJ of natural gas produced at the project would be set aside for domestic customers. APLNG will supply explosives manufacuter Orica with 10.2 PJ of gas over a... 

Gulf shareholders smile as supply chain links

By: Esmarie Iannucci     4th July 2019 ASX-listed Gulf Manganese on Thursday saw a 20% increase in its share price after the acquisition of its first high-grade manganese mine in Timor, and securing direct shipping ore for export from Indonesia. The company has told shareholders that it had vended the Putra Indonesia Jaya high-grade... 

Nova reports stellar year for Independence

By: Esmarie Iannucci     4th July 2019 The Nova base metals project, in Western Australia, has exceeded production expectations for the full year, owner Independence Group reported on Thursday. Nickel production for the full year ended June reached 30 708 t, which was above the 27 000 t to 30 000 t previously estimated, while copper... 

ABR sets timeline for Fort Cady

By: Esmarie Iannucci     4th July 2019 ASX-listed American Pacific Borate and Lithium (ABR) was hoping to start construction of its Fort Cady borate project, in Southern California, by the fourth quarter of this year. The start of construction would be subject to financing and permitting. 

Peabody works to re-enter North Goonyella

By: Esmarie Iannucci     4th July 2019 US coal major Peabody Energy has started the re-entry of the North Goonyella mine, in Queensland. The miner this week told shareholders that the re-entry activities, which are being done in consultation with the Queensland Mine Inspectorate, were part of a comprehensive, phased reventilation and... 

Resource exports tip the scale in May

By: Esmarie Iannucci     4th July 2019 New data by the Australian Bureau of Statistics (ABS) has shown that the resources sector generated a record A$24.9-billion in export earnings during May this year, accounting for 60% of total export income. Iron-ore exports also reached a record high in May, accounting for A$8.8-billion of the... 

Resource exports tip the scale in May

ERM acquires CSA Global

By: Tasneem Bulbulia     3rd July 2019 Sustainability consultancy ERM has acquired CSA Global, a mining, geological, technology and management consulting company. CSA Global provides technical and management consulting services, as well as independent corporate advice to mining and exploration companies and financial and legal groups... 

Afrimat changes its mind on Universal Coal takeover

By: Marleny Arnoldi     3rd July 2019 JSE-listed minerals and construction materials group Afrimat has decided not to pursue an acquisition of ASX-listed midtier coal mining company Universal Coal. In April, Afrimat made a nonbinding indicative offer to buy the entire issued share capital of Universal Coal for $0.27, or A$0.40... 

Gold's rally gets booster shot as Trump picks doves for the Fed

By: Bloomberg     3rd July 2019 Gold resumed its rally above $1 400/oz on a cocktail of positive drivers, with weak data feeding expectations for fresh easing from central banks, Treasury yields hitting a two-year low, and the US President seeking to reshape the Federal Reserve board with two picks seen as doves. Bullion... 

Alcoa expects $40m - $50m hit from restarting Canada smelter

By: Reuters     3rd July 2019 Aluminum producer Alcoa Corp said on Tuesday it expects to incur a charge of between $40-million and $50-million in the second half of 2019, related to restarting operations at its Canadian smelter in Becancour, Quebec. An 18-month lock out between the company and workers at the Aluminerie de... 

Greenpeace calls for global oceans treaty before deep sea mining is pursued

By: Marleny Arnoldi     3rd July 2019 Environmental organisation Greenpeace International warns that the world’s oceans could face severe and irreversible harm from deep sea mining unless tighter environmental safeguards are put in place. A new report published by the organisation, titled ‘In Deep Water’, shines a light on the... 

Greenpeace calls for global oceans treaty before deep sea mining is pursued

Red River expands into gold

By: Esmarie Iannucci     3rd July 2019 Base metals producer Red River Resources will acquire the Hillgrove gold-antimony project, in New South Wales, in exchange for A$4-million worth of shares. Red River on Wednesday announced an agreement with Brackden Resources to acquire the Hillgrove project, which has a historical production of... 

Chalice to sell Quebec gold projects

By: Esmarie Iannucci     3rd July 2019 Dual-listed Chalice Gold Mines will divest of its Quebec gold projects for a C$12-million share in Chantrell Ventures Corporation. Chantrell has entered into a definitive agreement to acquire certain non-core assets of TSX-listed Osisko Mining, and has undertaken a private placement to raise... 

Burrup Hub set to deliver billions in benefits

By: Esmarie Iannucci     3rd July 2019 The A$40-billion Burrup Hub development proposed by oil and gas major Woodside could boost Australia’s gross domestic product (GDP) by some A$414-billion during 2019-2063, new data from economic consultants ACIL Allen has shown. Woodside COO Meg O’Neill noted the project could deliver total... 

Burrup Hub set to deliver billions in benefits

Qld releases more gas exploration acreage

By: Esmarie Iannucci     3rd July 2019 The Queensland government has awarded Authority to prospect (ATP) for gas on more than 1 510 km2 of land in the Surat Basin, paving the way future gas supply in the region. Natural Resources, Mines and Energy Minister Dr Anthony Lynham on Wednesday awarded the ATP’s to a joint venture (JV)... 

Stanmore defers underground development

By: Esmarie Iannucci     3rd July 2019 Coal miner Stanmore Coal on Wednesday announced that it would defer the development of its Isaac Plains underground project, in Queensland. The miner told shareholders that while a bankable feasibility study on the underground operation had confirmed a positive business case for a 1.2-million... 

Mayur shakes the tin

By: Esmarie Iannucci     3rd July 2019 ASX-listed Mayur Resources has raised A$9.7-million through an option underwriting agreement and an institutional share placement to fund a number of project works over the next six to twelve months. Mayur on Wednesday said that it had entered into an underwriting agreement with Morgans... 

Piedmont set to raise A$21m

By: Esmarie Iannucci     3rd July 2019 Lithium developer Piedmont Lithium will raise A$21-million through a share placement to complete a definitive feasibility study and continue the development of its namesake project, in North Carolina. The ASX-listed company on Wednesday announced that it would place 145-million shares at a... 

Capricorn raises A$18.2m for Karlawinda

By: Esmarie Iannucci     3rd July 2019 ASX-listed Capricorn Metals has again tapped the capital markets, raising A$18.26-million through the placement of more than 280.9-million shares, priced at 6.5c each. The offer price represented a 27% discount to Capricorn’s last closing price, and a 24.5% discount to the five-day volume... 

Pallinghurst earmarks $1bn for battery, fuel cell materials 

By: Martin Creamer     3rd July 2019 Diversified investor Pallinghurst has entered the battery materials and energy storage revolution through the creation of a diversified battery raw materials platform. With the global electric vehicle and energy storage surge underpinned by government regulations and consumer demand for green... 

Pallinghurst earmarks $1bn for battery, fuel cell materials
Photo by Creamer Media
Arne Frandsen

Oil plunges in worst reaction to Opec since 2014 on demand woes

By: Bloomberg     2nd July 2019 Oil had its worst reaction to an Opec meeting in more than four years, with prices sliding just after the cartel agreed to prolong production curbs as fears about the global economy mount. Futures closed down 4.8% in New York, the steepest decline since May 31 and the biggest drop after an Opec... 

Alcoa’s workers accept offer, ‘exhausted’ from 18-month dispute

By: Bloomberg     2nd July 2019 An 18-month labour dispute at an aluminum smelter in Quebec controlled by Alcoa Corporation ended after workers accepted a deal, defying the recommendation of their union’s leadership. On Tuesday, about 80% of workers at the Becancour plant voted to ratify the offer after a meeting of the United... 

Keras to reward shareholders with Calidus shares

By: Tasneem Bulbulia     2nd July 2019 Aim-listed mineral resource company Keras Resources plans to distribute its shareholding in exploration company Calidus Resources to Keras shareholders in proportion to their holdings in Keras. The shareholding will be distributed through a capital reduction and demerger process, which requires... 

Corazon completes Mt Gilmore earn-in

By: Esmarie Iannucci     2nd July 2019 ASX-listed Corazon Mining has earned an 80% interest in the Mount Gilmore copper/cobalt/gold project, in New South Wales, following a A$2-million exploration spend. The company in 2016 struck an earn-in deal with vendor Providence Gold and Minerals, agreeing to spend A$2-million on exploration... 

Intermin, Focus extend Coolgardie timeframe

By: Esmarie Iannucci     2nd July 2019 ASX-listed Intermin Resources and Focus Minerals have extended an exclusivity deed over the 2.1-million-ounce Coolgardie gold project, in Western Australia, by a further three months. The two companies in February announced a potential A$40-million asset sale agreement over the Coolgardie... 

Azumah reports maiden underground resoure at Bepkong

By: Esmarie Iannucci     2nd July 2019 Gold explorer Azumah Resources has reported a maiden underground resource of 279 700 oz for the Bepkong deposit at its Wa gold project, in Ghana. The resource estimate includes a measured and indicated resource of 167 500 oz, at 4.05 g/t. 

Hot Chili raises funds for Cortadera buy

By: Esmarie Iannucci     2nd July 2019 Junior Hot Chili will raise A$5-million through a private placement to sophisticated and professional investors to fund general working capital requirements and to satisfy a $2-million part-payment for its Carola option agreement. The share placement will be undertaken in two tranches, with the... 

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