R/€ = 17.00 Change: -0.04
R/$ = 16.56 Change: -0.04
Au 1767.94 $/oz Change: -37.27
Pt 864.98 $/oz Change: -11.92

Australasia News

Base pulls the trigger at Bumamani

By: Esmarie Iannucci     20th June 2022 ASX- and Aim-listed Mineral Sands miner Base Resources has taken a final investment decision on the $28.1-million Bumamani project, which will extend the mine life of its Kwale operations, in Kenya, by 13 months to December 2024. The Bumamani project comprises the higher-grade subsets of the... 

IGO completes Western Areas takeover

By: Esmarie Iannucci     20th June 2022 Battery metals miner Independence Group (IGO) has completed the acquisition of nickel miner Western Areas. IGO had offered Western Areas shareholders A$3.87 a share for their stake in the Western Australian nickel miner. 

Iluka shareholders to vote on Sierra Rutile demerger

By: Esmarie Iannucci     20th June 2022 Mineral sands miner Iluka has unveiled details of the demerger of its Sierra Rutile operations, in Sierra Leone, creating two independent ASX listed companies. Iluka will continue to be a leading global supplier of critical minerals, while Sierra Rutile will be a West African focused mineral... 

Image shows ASX building

Green hydrogen’s business case significantly strengthened, summit hears 

By: Martin Creamer     17th June 2022 Green hydrogen, when earlier identified as a necessary clean energy source to help the world achieve net-zero emissions in the coming decades, was higher up the cost curve than fossil fuels. Now that has changed with this week’s Financial Times Hydrogen Summit emphasising that green hydrogen’s... 

Creamer Media screenshot
FT Hydrogen Summit panel discussion.

Deep Yellow extends Hylron’s option timeframe on Shiyela project

By: Marleny Arnoldi     17th June 2022 ASX-listed Deep Yellow has extended the current 12-month option on the exclusivity agreement it has with Hylron Green Technologies., relating to the Shiyela iron-ore project, in Namibia. Deep Yellow entered into an agreement with HyIron for the sale of shares in Shiyela Iron, which holds the... 

Vulcan gains local support for geothermal plans

By: Esmarie Iannucci     17th June 2022 ASX-listed Vulcan Energy Resources has marked an important development milestone at its Zero Carbon lithium project, in Germany, with the City Council of Landau voting to support geothermal energy production. The company said that the City Council of Landau, which covers part of Vulcan’s... 

Okvau marks major milestone - Emerald

By: Esmarie Iannucci     17th June 2022 Junior Emerald Resources has poured over 3 000 kg of gold bullion from its Okvau gold mine, in Cambodia, since commercial production started in September 2021. “The board and management of Emerald are very pleased with the achievement of this significant 3 000 kg gold bullion milestone at our... 

Chevron eyes $2.5bn investments in low-carbon hydrogen

By: Bloomberg     17th June 2022 Chevron plans to spend about $2.5-billion building up its hydrogen business this decade as the oil major accelerates investment in low-carbon technologies. Chevron will develop both green and blue hydrogen, said Austin Knight, vice president of hydrogen at the company’s New Energies unit. The... 

Vital starts commissioning of Canadian REE plant

By: Esmarie Iannucci     17th June 2022 Canadian rare earths miner Vital Metals has started commissioning its rare earth extraction facility in Saskatoon, Canada, starting ore feed into the dense media separation (DMS) plant. Vital will commission the Saskatoon facility incrementally over coming months with plans to produce a 2.5 t of... 

Changes afoot at Celsius

By: Esmarie Iannucci     17th June 2022 Copper and gold junior Celsius Resources has resumed share trading after announcing significant board changes and the sale of its Cullarin West project, in New South Wales. The ASX-listed company has announced the termination of MD Robert Gregory and non-executive director Bill Oliver’s... 

Lake Resources looks at funding solutions for Kachi

By: Esmarie Iannucci     17th June 2022 Lithium developer Lake Resources has appointed project finance institutions Citi and JP Morgan as joint coordinators for its Kachi lithium project, in Argentina. The coordinators will work together on a debt financing package to fund the development of the 50 000 t/y Kachi project. 

Dacian halts mining at Mt Morgans

By: Esmarie Iannucci     17th June 2022 Gold miner Dacian Gold on Friday announced plans to suspend openpit mining operations at the Jupiter deposit, at its Mt Morgans mine, in Western Australia, while also announcing the resignation of MD Leigh Junk. Dacian told shareholders that the rapid change of the operating environment over... 

Image shows a molten gold bar

Syrah lifts precautionary measures in Moz

By: Esmarie Iannucci     17th June 2022 ASX-listed Syrah Resources on Friday said that temporary logistical suspensions and suspensions to personnel movements on its primary transport route in Mozambique had been lifted. The company last week implemented a number of measures following an insurgent attack at the nearby Ancuabe graphite... 

Nature’s Vault offers investors a ‘green’ gold option

By: Schalk Burger     17th June 2022 About 3 000 t of gold are mined each year, of which 50% goes directly into bank vaults. Environmental, social and governance finance company Nature's Vault aims to keep gold in the ground, thereby avoiding the carbon emissions and environmental impact of mining, while providing investors with... 

Nature's Vault CEO Phil Rickard
Nature's Vault CEO Phil Rickard

Horizon completes Richmond restructure

By: Esmarie Iannucci     16th June 2022 Gold developer Horizon Minerals has completed the restructure of its 25% interest in the Richmond vanadium project, in Queensland. The company last year struck a deal with its joint venture (JV) partner Richmond Vanadium Technology (RVT) to restructure the project ownership into a dedicated... 

Gold’s floor price is getting higher, Newmont's Palmer says

By: Bloomberg     16th June 2022 st gold producer isn’t about to join bullion bugs in predicting a price rally. But Tom Palmer does see a higher floor forming under the market as years of stimulus devolve into a fight to contain inflation. As global markets wilt on fears of stagflation, gold has stayed relatively resilient... 

An image of Newmont CEO Tom Palmer speaking at the Prospectors & Developers Association of Canada conference in Toronto, Canada, this week.
Newmont CEO Tom Palmer speaking at the Prospectors & Developers Association of Canada conference in Toronto, Canada, this week.

TerraCom secures new offtake at Blair Athol

By: Esmarie Iannucci     16th June 2022 ASX-listed TerraCom has signed an offtake agreement over its Blair Athol coal operations, in Queensland, with long-time Japanese trading partner. Under the terms of the agreement, TerraCom will deliver one cargo a month during the offtake term, between August 2022 and August 2023, with each... 

Burgundy unveils luxury diamond brand

By: Esmarie Iannucci     16th June 2022 Diamond miner Burgundy Diamond Mines has unveiled its ‘ultra-luxury’ diamond brand Maison Mazerea, aimed at cutting and polishing natural fancy colour diamonds. The ASX-listed company said that Maison Mazerea was the final key part of Burgundy’s strategy to become an end-to-end diamond company,... 

Cost blow-out at Gudai-Darri

By: Esmarie Iannucci     16th June 2022 Costs at diversified miner Rio Tinto’s newly minted Gudai-Darri mine, in the Pilbara, has increased by $500-million over the last 12 months. The miner in June of last year placed capital costs for the project at $2.6-billion, but on marking the first production of iron-ore from Gudai-Darri this... 

BHP to keep NSW coal assets

By: Esmarie Iannucci     16th June 2022 Major BHP has announced that it will retain its New South Wales energy coal (NSWEC) operations in its portfolio. The company told shareholders that it would seek the relevant approvals to continue mining beyond its current mining consent that expires in 2026 and would proceed with a managed... 

Image shows a coal operation

Cobre makes a move on Metal Tiger's Kalahari exploration vehicle

By: Esmarie Iannucci     16th June 2022 ASX-listed Cobre has struck a share purchase deed with fellow-listed Metal Tiger to acquire take full ownership of the Kalahari Metals (KML) exploration vehicle. Cobre holds a 51% stake inKML, which controls some 8 595 km2 of tenements within the Kalahari copper belt, in Botswana.The tenement... 

ICMM doubles down on tangible sustainability efforts

By: Marleny Arnoldi     15th June 2022 The International Council on Mining and Metals (ICMM) has published an ambitious new strategy for the next three years, which doubles down on the organisation’s spirit of partnership and collaboration. The ‘Strategy and Action Plan 2022 – 2024’ aims to make breakthrough progress on four key... 

ICMM president and CEO Rohitesh Dhawan.
ICMM president and CEO Rohitesh Dhawan.

PwC suggests miners use 2021 gains to prepare for critical minerals future

By: Marleny Arnoldi     15th June 2022 Although the world’s top 40 mining companies demonstrated stellar financial results in 2021, it is unclear how long this record run can continue, since the industry is experiencing unprecedented change, says PwC. The enterprise services and advisory company finds in its ‘Mine 2022’ report that... 

PwC energy, utilities and resources leader Andries Rossouw
PwC energy, utilities and resources leader Andries Rossouw

ESG provides profitable returns from smart capital allocation – analyst

By: Martin Creamer     15th June 2022 Environmental, social and governance (ESG) frameworks not only help businesses and the communities in which they operate but can also generate positive returns as mining companies reduce operating expenses and receive favourable investor interest and cheaper finance. When it comes to ESG, the... 

Picture supplied.
Nedbank mining equity analyst Arnold van Graan.

Southern Palladium progressing Bengwenyama project

By: Tasneem Bulbulia     15th June 2022 JSE- and ASX-listed Southern Palladium will be undertaking a near-term exploration programme at its 70%-owned Bengwenyama palladium/rhodium-dominated platinum group metals (PGM) project, on the Eastern limb of the Bushveld Complex, in South Africa, following a successful capital raise and... 

Fortescue partners with Liebherr on green trucks

By: Esmarie Iannucci     15th June 2022 Iron-ore major Fortescue Metals has partnered with multi-national equipment manufacturer Liebherr for the development of green mining haul trucks. The trucks will be integrated with for the zero emission power system technologies being developed by Fortescue Future Industries (FFI) and Williams... 

Laneway restarts activities at Agate Creek

By: Esmarie Iannucci     15th June 2022 ASX-listed Laneway Resources has restarted mining activities at the Agate Creek project, in Queensland, with drill and blast operations under way. Production grade control sampling, assaying and blasting has started, with the first production blast for 2022 fired last Friday. The mining fleet is... 

Northern Star completes Paulsens and Western Tanami sale

By: Esmarie Iannucci     15th June 2022 Gold miner Northern Star Resources has completed the sale of the Paulsens and Western Tanami gold projects, to fellow-listed Black Cat Syndicate, for A$44.5-million. Under the terms of the agreement struck in April, Northern Star was paid A$14.5-million in cash for the assets, and would be... 

Court calls for Vimy meeting on Deep Yellow deal

By: Esmarie Iannucci     15th June 2022 The Supreme Court of Western Australia has called on ASX-listed Vimy Resources to call a shareholder meeting to vote on the proposed A$658-million merger agreement with fellow-listed Deep Yellow. The two companies in April announced the merger agreement under which Deep Yellow would acquire all... 

Glencore strikes offtake deal at Kolosori

By: Esmarie Iannucci     15th June 2022 ASX-listed Pacific Nickel has struck a non-binding indicative term sheet with diversified major Glencore for a three-year, $22-million pre-export finance facility, along with a four-year offtake arrangement for all of the production from the Kolosori nickel project, in the Solomon Islands. The... 

Base restarts operations at Kwale

By: Esmarie Iannucci     15th June 2022 Mineral sands miner Base Resources has resumed operations at its Kwale operations, in Kenya. The company earlier this month reported that heavy rainstorms had caused flash flooding in the area, which had overwhelmed the project’s dewatering system. 

Offer for DGO declared unconditional

By: Esmarie Iannucci     15th June 2022 Gold miner Gold Road Resources' takeover offer for fellow-listed DGO Gold has been declared unconditional after the company obtained an 83.35% relevant interest in the takeover target. Gold Road recently increased its takeover offer for fellow listed DGO from 2.16 Gold Road shares to 2.25 Gold... 

King faces backlash over Narrabri support

By: Esmarie Iannucci     15th June 2022 Newly appointed federal Resources Minister Madeleine King is facing backlash following her support of oil and gas major Santo’s controversial Narrabri gas development. In an interview with the Herald and The Age, King was quoted as saying that ‘critics of the project should accept the need for... 

Qld invests in battery power

By: Esmarie Iannucci     15th June 2022 The Queensland government has announced a A$15-million investment to scale up the National Battery Testing Centre (NBTC), as part of plans to ramp-up battery manufacturing in the state. “Energy storage is the key to unlocking Queensland’s renewable energy revolution,” Treasurer and Minister for... 

WA closes the curtain on coal-fired power

By: Esmarie Iannucci     15th June 2022 The Western Australian government on Wednesday announced the phasing-out of coal fired power generation, with all of the state-owned coal-fired power stations to retire by 2030. The state government said that the continued uptake of rooftop solar and renewable energy has forced changes to the... 

BP takes a major stake in Asian Renewable Energy Hub

By: Esmarie Iannucci     15th June 2022 Energy major BP will acquire a 40.5% equity stake, and become operator of the Asian Renewable Energy Hub (AREH), in Western Australia, which has the potential to be one of the largest renewables and green hydrogen hubs in the world. AREH, in the Pilbara, intends to supply renewable power to... 

First ore delivered at Gudai-Darri

By: Esmarie Iannucci     15th June 2022 Diversified miner Rio Tinto has delivered first ore from the $3.1-billion Gudai-Darri iron-ore mine, bringing online its first greenfield mine in the Pilbara, in more than a decade. Production from the mine will continue to ramp up through the remainder of this year and is expected to reach full... 

Image shows up-close iron-ore

Glencore gets rich on coal, but questions persist over exit plan

By: Bloomberg     14th June 2022 Glencore is getting rich on coal. The company is on course for another year of bumper profits, its shares just hit a record high — a feat that looked unlikely for most of the last decade — and investors are set for a windfall of returns. But some of them are now asking exactly how it’s all going... 

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