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Australasia News

Avenira finds debt solutions

By: Esmarie Iannucci     1st July 2019 ASX-listed Avenira plans to sell its interest in the Baobab phosphate project, in Senegal, and its 7% interest in phosphate technology company Novaphos to a consortium of its three largest shareholders. Under the terms of binding agreements reached with Agrifos Partners, Tablo Corporation and... 

Iron-ore drives Australian resource export earnings to a record A$275bn

By: Esmarie Iannucci     1st July 2019 Higher iron-ore prices have helped to drive Australia’s resource export earnings to a record A$275-billion in the 2018/19 financial year, with export earnings expected to hit A$285-billion in 2019/20, data from the latest Resources and Energy Quarterly shows. Chief economist Mark Cully on Monday... 

Iron-ore drives Australian resource export earnings to a record A$275bn

Rio appoints new legal council

By: Esmarie Iannucci     1st July 2019 Diversified major Rio Tinto has appointed Barbara Levi to succeed Philip Richards as group executive, group general counsel from January 1, 2020. Richards will retire from Rio on December 31. 

Gruyere produces first gold

By: Esmarie Iannucci     1st July 2019 The Gruyere gold project, in Western Australia, has produced its first gold bars, with three dore gold bars totaling an estimated 1 139 oz produced from the carbon-in-leach and elution circuits. Project partners Gold Fields and Gold Road Resources on Monday said that, with the delivery of the... 

Gold sinks most in a year as trade truce deals blow to bulls 

By: Bloomberg     1st July 2019 Gold opened the third quarter with a slump back below $1 400/oz after the US and China agreed to a truce in their trade war, dealing a blow for now to havens that were bolstered in recent months by the long-running tensions as well as prospects for looser monetary policy. Prices fell after Donald... 

Gold sinks most in a year as trade truce deals blow to bulls

Opec+ is close to finalising a charter for long-term cooperation

By: Bloomberg     30th June 2019 Opec+ nations are close to finalizing a “charter” for a long-term alliance, with a document likely to be signed as soon as this week, said two delegates. Members of the group received a revised draft of the document on Sunday that appeared to have broad support, one of the delegates said, asking... 

Gold set for best month since Brexit vote with G20 on horizon

By: Bloomberg     28th June 2019 Gold is extending its rally to head for the biggest monthly climb since the UK voted to leave the European Union in June 2016. Prices have surged to the highest since 2013 on expectations for looser monetary policy, rising geopolitical tensions and slower global growth amid a prolonged US-China... 

Gold set for best month since Brexit vote with G20 on horizon
US President Donald Trump is meeting China's Xi Jinping at the G20 summmit, in Japan, this weekend.

Nyrstar extends production stoppage at Port Pirie smelter

By: Reuters     28th June 2019 Metals and mining company Nyrstar extended a production stoppage at its Port Pirie lead and zinc smelter in Australia, it said on Friday. The force majeure will continue into July 2019, the Belgium-based company said in a statement, adding that it expects now both TSL and Blast furnaces to... 

Kingsrose warns of output delays

By: Esmarie Iannucci     28th June 2019 Gold miner Kingsrose Mining has warned of an interruption to production at its Way Linggo mine, in Indonesia, after remediation works were unable to rectify the cause of a wall slippage last week. The miner on Friday said that a fault that had recently been identified in the north-east pit wall... 

Bass issues convertible notes

By: Esmarie Iannucci     28th June 2019 ASX-listed Bass Metals will raise up to A$4-million through a tranched issue of convertible notes, allowing Bass to continue exploration to underpin its planned large-scale graphite mining and processing operations. An initial tranche of A$1.41-million of convertible notes has already been... 

Triton welcomes new cornerstone investor

By: Esmarie Iannucci     28th June 2019 China’s Jinan Hi-Tech is set to invest A$19.5-million into ASX-listed Triton Minerals through a share placement and the acquisition of shareholder Shandong Tianye Mining’s 19.3% stake in the company. Subject to shareholder approval, Jinan would subscribe for A$8.5-million shares in Triton, taking... 

Didipio still going – OceanaGold

By: Esmarie Iannucci     28th June 2019 Gold miner OceanaGold has rubbished reports that production at the Didipio mine, in the Philippines, has been halted. The denial followed reports from an environmental organisation that claimed the provincial government of Nueva Vizcaya had ordered a stop to operations, in the wake of its... 

Jervois raises A$16.5m

By: Esmarie Iannucci     28th June 2019 ASX-listed Jervois Mining has raised A$16.5-million through an over-subscribed share placement. The company earlier this week launched the equity raise targeting proceeds of A$15-million, offering shares at an 8% premium to the underlying market price of the company’s shares. 

Middle Island sweetens offer for Alto

By: Esmarie Iannucci     28th June 2019 Takeover target Alto Metals has advised shareholders not to take any action after suitor Middle Island increased its takeover offering overnight. Middle Island has increased its scrip offer for Alto from five Middle Island shares held for every one Alto share, to six Middle Island shares for... 

Australia’s Oil Search ups stake in Alaska field

By: Esmarie Iannucci     28th June 2019 ASX-listed Oil Search will spend $450-million to double its interest in the Pikka Unit Nanushuk oil field, in Alaska. Oil Search in February last year completed a $400-million acquisition of a 25.5% interest in the Pika Unit and adjacent exploration acreage and a 37.5% interest in the Horseshoe... 

BHP ends WA royalty dispute in A$250m settlement

By: Esmarie Iannucci     28th June 2019 Mining major BHP has reached a A$250-million settlement with the Western Australian government in a royalty dispute. The state government earlier this year said that it would seek royalty payments of up to A$300-million from BHP, which the state believed was underpaid over a 12-year period. 

BHP ends WA royalty dispute in A$250m settlement

Blyvoor to begin producing gold again from Q4 – Skeat 

By: Martin Creamer     27th June 2019 Gold mining is to resume at the old Blyvooruitzicht gold mine in the last quarter of this year, Blyvoor Gold executive chairperson Peter Skeat has told Mining Weekly Online. “We’ve worked very hard and we’re at the point of moving ahead. We’ve got cash, we’ve got no debt, and the employees and... 

Blyvoor to begin producing gold again from Q4 – Skeat
Photo by Creamer Media's Dylan Slater
From left Martin Creamer, Peter Skeat, Alan Smith and Richard Floyd.

Jupiter pays special dividend, commissions extra equipment to meet guidance

By: Marleny Arnoldi     27th June 2019 ASX-listed Jupiter Mines on Thursday announced in its report for the quarter ended May 31 that it would pay a special dividend of R1.15-billion to its shareholders at the end of June. This will be in addition to a further dividend for the remainder of the first half of the 2020 financial year.  

Argosy starts pilot work in Argentina

By: Esmarie Iannucci     27th June 2019 The share price of ASX-listed Argosy Minerals increased by more than 5% at the close of business on Thursday after the company announced the start of lithium pilot plant operations at its Rincon lithium project, in Argentina. Argosy has started continuous industrial-scale pilot plant lithium... 

Ansteel won't alter Gindalbie offer

By: Esmarie Iannucci     27th June 2019 Suitor Ansteel has told ASX-listed Gindalbie Metals that it would not be increasing its offer for the company. Gindalbie in March announced a 2.6c a share takeover offer from Ansteel, which already holds a major interest in the company. 

Resolute reaches commercial milestone at Syama

By: Esmarie Iannucci     27th June 2019 Gold miner Resolute Mining has achieved commercial production at its Syama underground mine, in Mali. Ore production from the underground mine has achieved more than 80% of nameplate capacity, with the mine producing more than 38 500 t of ore over the last week. 

Resolute reaches commercial milestone at Syama
Syama automation control room

Lynas extends JARE debt

By: Esmarie Iannucci     27th June 2019 Rare earths miner Lynas has extended its existing Japan Australia Rare Earths (JARE) loan facility by a decade. The maturity of the JARE facility has now been extended until the end of June 2030, with interest rates reduced from 3.75% a year to 2.5% a year, with a total of $146.9-million to be... 

Barossa JV nears Darwin LNG deal

By: Esmarie Iannucci     27th June 2019 Oil and gas major Santos on Thursday announced that the Barossa joint venture (JV), in which it owns a 25% interest, has entered into exclusive negotiations with the Darwin liquefied natural gas (LNG) JV, for the supply of backfill gas. Santos is also a JV partner in Darwin LNG with an 11.5%... 

TNG inks train solution for Mt Peake

By: Esmarie Iannucci     27th June 2019 ASX-listed TNG has inked a binding heads of agreement with rail operator Genesee & Wyoming Australia to provide rail haulage services for the Mt Peake vanadium/titanium/iron project, in the Northern Territory. The agreement covers the transport of magnetite concentrate produced at the Mt Peake... 

Fortscue celebrates opening of Judith Street Harbour

By: Esmarie Iannucci     27th June 2019 Iron-ore major Fortescue Metals on Thursday marked a major milestone with the completion of its fleet of tugs and its towage infrastructure at the Herb Elliott port, in Port Hedland. Tug operations from the port are expected to start next month. “As Australia’s economic and industrial gateway... 

Fortscue celebrates opening of Judith Street Harbour
Photo by Bloomberg
Fortescue chairperson Andrew Forrest

African nations join majority in opposing US blockage at WTO 

By: Reuters     26th June 2019 African countries have joined the list of nations wanting an end to a US veto on judicial appointments at the World Trade Organization (WTO), a statement showed on Wednesday, meaning a large majority of WTO member States now openly oppose the US position. The US is blocking new appointments... 

Moya Greene resigns from Rio Tinto board

By: Mariaan Webb     26th June 2019 Moya Greene has resigned from the board of diversified miner Rio Tinto with immediate effect, owing to time constraints. The Canadian national, who previously headed Britain’s Royal Mail, said in a statement announcing her resignation on Wednesday that the time commitment to serve on the Rio... 

Moya Greene resigns from Rio Tinto board
Moya Greene

‘Platinum Valley’ SEZ in three months – Patel 

By: Martin Creamer     26th June 2019 The legal entity for the Bojanala Platinum Valley Special Economic Zone (SEZ) in North West, which already has an investment pipeline in place, will be set up in the next three months, Trade and Industry Minister Ebrahim Patel promised on Tuesday evening. Fuel cell development is listed as the... 

‘Platinum Valley’ SEZ in three months – Patel
Photo by Creamer Media's Dylan Slater
Trade and Industry Minister Ebrahim Patel

India's gold demand could fall to 3-yr low as prices hit record high

By: Reuters     26th June 2019 India's gold demand could fall 10% in 2019 from a year ago to the lowest level in three years as record high local prices dent retail purchases during a key festive season, the head of an industry body told Reuters. Lower purchases by India, the world's second biggest consumer after China, could... 

Indonesia regulatory changes to bring more uncertainty to coal sector

By: Reuters     26th June 2019 Indonesian coal miners said upcoming regulatory changes are putting added pressure on their businesses amid depressed prices and rising competition from other energy sources. The Indonesian government is in the process of amending coal mining rules to enforce implementation of a 2009 mineral law... 

Arrow invests in Burkina Faso exploration

By: Esmarie Iannucci     26th June 2019 Perth based Arrow Minerals has struck a A$2.9-million deal to acquire privately held exploration company Boromo Gold, which holds six exploration projects in Burkina Faso. Under the terms of the agreement, Arrow would issue ten of is own shares for each Boromo share held, and ten Arrow... 

Shareholders approve Woodlark consolidation

By: Esmarie Iannucci     26th June 2019 ASX-listed Geopacific Resources will consolidate its holding in the Woodlark gold project, in Papua New Guinea, after receiving approval to acquire partner Kula Gold’s stake in the project. Geopacific in March this year announced plans to gain full ownership of Woodlark by issuing Kula... 

Millennium produces first sulphide gold

By: Esmarie Iannucci     26th June 2019 Gold miner Millennium Minerals on Wednesday reported that the Stage 1 sulphide plant expansion at its Nullagine gold project, in Western Australia, has delivered its first gold. CEO Peter Cash told shareholders that all early results from the sulphide circuit had been very positive, indicating... 

Sprott offers to finance Emerald’s Cambodia gold mine

By: Esmarie Iannucci     26th June 2019 Gold developer Emerald Resources on Wednesday announced that it has secured a potential $160-million in funding to develop its Okvau gold project, in Cambodia. The company has entered into an investment committee-approved term sheet with Sprott Private Resources to provide a $60-million facility... 

Hastings gets EPA green light for WA rare earth project

By: Esmarie Iannucci     26th June 2019 The Western Australian Environmental Protection Authority has green-lit the A$427-million Yangibana rare-earths project, being developed by ASX-listed Hastings Technology Metals. The one-million-tonne-a-year operation is expected to produce some 15 000 t/y of mixed rare earths carbonate, and... 

Hastings gets EPA green light for WA rare earth project

Northam to restart operations at Eland’s fully funded Kukama shaft  

By: Martin Creamer     26th June 2019 Platinum group metals mining and marketing company Northam Platinum on Wednesday announced the company’s decision to recommence operations in the new 2020 financial year at the Kukama shaft situated at the Eland mine complex in Brits. Total developmental capital expenditure is estimated at... 

Northam to restart operations at Eland’s fully funded Kukama shaft
Photo by Creamer Media
Northam CE Paul Dunne

Omnia to restructure as it seeks to reduce overextended balance sheet 

By: Schalk Burger     25th June 2019 Diversified chemicals group Omnia will, over the next two years, focus on improving the profit margins of its companies’ services and products, ensuring that its assets and investments deliver value, as well as on pursuing international expansion of intellectual property-based businesses that... 

Rio Tinto removed from Norway blacklist after selling polluting mine

By: Bloomberg     25th June 2019 Norway’s $1-trillion wealth fund has removed Rio Tinto from its investing blacklist after the world’s second-biggest miner sold out of the controversial Grasberg mine in Indonesia. Norway has refused to buy Rio Tinto stock for more than a decade because of the environmental damage caused by one... 

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