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Australasia News

Anglo’s first-quarter copper output rises, while met coal production disappoints

By: Marleny Arnoldi     25th April 2019 Two planned longwall moves at Anglo American’s metallurgical coal operations made the biggest contribution to the company’s 6% decrease in overall production for the quarter ended March 31. CE Mark Cutifani said in a statement on Thursday that isolated production issues at the Venetia diamond... 

Gold Fields says will reach two-million-ounce production mark this year 

By: Marleny Arnoldi     25th April 2019 JSE-listed Gold Fields expects to reach its two-million-ounce milestone for the first time this year, as its Damang project, in Ghana, increases production, as the Gruyere project, in Australia, enters production and the Asanko joint venture, in Ghana, contributes for the full year. CEO Nick... 

Gold Fields says will reach two-million-ounce production mark this year
Photo by Creamer Media
Gold Fields CEO Nick Holland

Deep-sea mining boss says new law could be adopted next year

By: Reuters     25th April 2019 China and a quest for battery minerals have injected momentum into a long UN process to agree a law on deep-sea mining, which could be adopted by the end of 2020, if the political will exists, the head of the International Seabed Authority (ISA) said. So far the UN body, headquartered in... 

Deep-sea mining boss says new law could be adopted next year

‘Land no one else wants’ gets solar as coal-and-nukes era fades

By: Bloomberg     25th April 2019 For two decades, coal has been pulled from a Bent Mountain mine in eastern Kentucky. But in a startling move in the heart of coal country, a rival –solar – is preparing to move on to the land. From Appalachia in the US to Queensland in Australia and Chernobyl in Ukraine, solar and wind farms are... 

‘Land no one else wants’ gets solar as coal-and-nukes era fades

ICMM to establish mine tailings storage facilities standard 

By: Schalk Burger     24th April 2019 International mining organisation, the International Council of Mining and Metals (ICMM) will conduct an independent review of mine tailings storage facilities to establish an international standard for the safe management of tailings storage facilities that can be applied to all tailings dams... 

World's central banks want more gold as India joins spree

By: Bloomberg     24th April 2019 India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves. The Reserve Bank of India’s purchases are part of a wider picture across... 

World's central banks want more gold as India joins spree

Metallica pushes back Urquhart start

By: Esmarie Iannucci     24th April 2019 The share price of ASX-listed Metallica Minerals fell by nearly 18% on Wednesday on news that the company had failed to access export facilities for its Urquhart bauxite project, in the Cape York Peninsula, pushing back the start of mining. Metallica and its joint venture (JV) partner in... 

Mineral Resources completes note offering

By: Esmarie Iannucci     24th April 2019 ASX-listed Mineral Resources (MRL) has completed a $700-million senior unsecured note offering. “Over recent years, MRL’s business has grown and we now have established operations at mines with anticipated lives of between 10 and 30 years. The offering of the notes represents an important... 

Mt Gibson gets ready to ship Koolan Island ore

By: Esmarie Iannucci     24th April 2019 Junior Mount Gibson Iron has restarted high-grade iron-ore sales from its Koolan Island operation, in Western Australia. The ASX-listed miner on Wednesday said that some 72 000 t of high-grade hematite iron-ore, averaging 65% iron, is currently being loaded onto a bulk carrier scheduled to... 

Argyle delivers a white treasure

By: Esmarie Iannucci     24th April 2019 Mining major Rio Tinto has recovered a 28.84 ct gem quality white diamond from its Argyle diamond mine, in Western Australia, marking one of the largest gem quality white diamonds in its 35-year history. Named Argyle Octavia™ in recognition of its octahedral shape, this rough diamond will be... 

Gindalbie/Ansteel deal gets FIRB backing

By: Esmarie Iannucci     24th April 2019 The Foreign Investment Review Board has approved Hong Kong-based Ansteel’s takeover of ASX-listed Gindalbie Metals. Gindalbie in March announced a 2.6c a share takeover offer from Ansteel, which currently holds a 35.71% interest in Gindalbie and is a 52.16% shareholder in the Karara project. 

Aurelia faces tough quarter

By: Esmarie Iannucci     24th April 2019 Junior gold miner Aurelia Metals has reported a weaker quarter in the three months to March, as gold grades at the Peak mine, in New South Wales, underperformed. Group gold production in the March quarter declined to 23 323 oz, down from the 35 834 oz reported in the previous quarter, with gold... 

Alaska mine expected to lead Northern Star production recovery

By: Esmarie Iannucci     24th April 2019 Gold miner Northern Star Resources is poised for a record quarter of production during the three months to June, as the Pogo mine, in Alaska, gears up to increase its output. Northern Star on Wednesday reported that gold production in the March quarter reached 186 255 oz, down slightly from the... 

Alaska mine expected to lead Northern Star production recovery
Photo by Bloomberg
Northern Star CEO Bill Beament

BMW to buy cobalt direct from Australia, Morocco for EV batteries

By: Reuters     24th April 2019 German carmaker BMW will buy cobalt, a key component for electric vehicle (EV) batteries, directly from mines in Australia and Morocco to ensure they are not produced by child labour, an executive said on Tuesday. The announcement came as the London Metal Exchange (LME) launched an initiative... 

Global Witness welcomes LME’s new responsible sourcing rules 

By: Marleny Arnoldi     23rd April 2019 International nongovernmental organisation (NGO) Global Witness has welcomed the London Metal Exchange’s (LME’s) new responsible sourcing rules, which were published for public consultation on Tuesday. The exchange’s responsible sourcing roadmap is intended for LME-listed brands and builds on a... 

Global Witness welcomes LME’s new responsible sourcing rules

Anglo stalwart appointed Pensana CEO  

By: Esmarie Iannucci     23rd April 2019 ASX-listed rare earths hopeful Pensana Metals has appointed Tim George as CEO. George has more than a decade of experience in production management at several of diversified miner Anglo American’s operations in Africa, and has previously worked in Angola as chairperson and CEO of Aim-listed... 

Red 5 reports a solid March quarter

By: Esmarie Iannucci     23rd April 2019 Junior gold miner Red 5 has reported a steady production quarter in the three months to March, with gold production reaching 24 187 oz, compared with the 26 118 oz produced in the previous quarter. Gold sales for the March quarter declined slightly from 27 149 oz in the previous quarter, to 23... 

Laneway pours first gold in Qld

By: Esmarie Iannucci     23rd April 2019 First gold has been poured from the Agate Creek gold project, in North Queensland, ASX-listed Laneway Resources reported on Tuesday. The first gold pour was achieved within ten weeks of the grant of a mining lease, and three dore bars collectively weighing 22 kg of gold and silver bullion have... 

Apollo raises A$6m for exploration

By: Esmarie Iannucci     23rd April 2019 ASX-listed Apollo Consolidated is hoping to raise A$6-million through a share placement to accelerate drilling at its Lake Rebecca gold project, in Western Australia. The junior on Tuesday said that it had agreed to place 30-million new fully paid ordinary shares, at a price of 20c each, to... 

Echo updates Yandal BFS

By: Esmarie Iannucci     23rd April 2019 A revised bankable feasibility study into the Yandal gold project, in Western Australia, has estimated that a capital injection of A$42-million would be required to bring the project into production. The BFS is based in the refurbishment of ASX-listed Echo Resources’ Bronzewing processing plant... 

Northern Minerals lines the coffers with another A$15m

By: Esmarie Iannucci     23rd April 2019 Rare earths miner Northern Minerals will undertake a further A$15-million capital raise to repay its R&D financier. The new capital raise comes just a month after Northern Minerals undertook a A$20-million share placement to fund working capital expenditure and exploration. 

Bryah ups its game with OM Holdings JV

By: Esmarie Iannucci     23rd April 2019 ASX-listed junior Bryah Resources has struck a farm-in and joint venture (JV) agreement with fellow-listed OM Holdings to hunt for manganese on the Bryah Basin project. Under the terms of the agreement, OM will spend up to A$7.3-million to earn a 70% interest in the manganese mineral rights of... 

Australia’s minerals council calls for repeal of ‘discriminatory’ nuclear energy ban

By: Esmarie Iannucci     23rd April 2019 The Minerals Council of Australia (MCA) has called on the federal government to repeal a ban on nuclear energy. The call comes after Prime Minister Scott Morrison last week said in a radio interview that while nuclear energy was “not on the agenda”, he noted that nuclear energy had to pay its... 

Australia’s minerals council calls for repeal of ‘discriminatory’ nuclear energy ban

Orion reawakening geological giant in Northern Cape  

By: Martin Creamer     18th April 2019 Three years ago, Orion Minerals was trading at an eighth of an Australian cent a share. It had a market capitalisation of $4-milllion and set out to find something that could be turned into a mine. The good news is that the company found that opportunity in South Africa, and its share price has... 

Orion reawakening geological giant in Northern Cape
Mining Weekly Online’s Martin Creamer interviewing Orion Minerals CEO Errol Smart. Video: Nicholas Boyd. Photographs: Dylan Slater.

LME ready to address flaws in its metal storage rules

By: Reuters     18th April 2019 The London Metal Exchange is poised to deal with a loophole in its warehousing rules, exposed after commodity trader Glencore bought large amounts of aluminium earlier this year, sources familiar with the matter said. But the exchange will have to wait until a complaint lodged by Glencore with... 

Fitch warns iron-ore price increase may be ‘more structural’ than initially thought

By: Simone Liedtke     18th April 2019 The sharp rise in iron-ore prices to over $90 per dry metric ton (dmt) from under $75/dmt since January, may be “more structural than initially anticipated”, says Fitch Ratings. It believes sustained iron-ore prices of above $85/dmt over the next 9 to 12 months should provide cash flow windfalls... 

Weednanna proves promising for Alliance

By: Esmarie Iannucci     18th April 2019 The Weednanna gold project, in South Australia, would likely require a capital investment of some A$44.4-million, a scoping study has found ASX-listed Alliance Resources on Thursday said that the scoping study, based on a 250 000 t/y gold processing plant and tailings storage facility, had... 

St Barbara books solid quarter

By: Esmarie Iannucci     18th April 2019 Gold miner St Barbara has revised its production forecast at both its Gwalia and Simberi operations, in Western Australia and Papua New Guinea respectively. The ASX-listed miner was now expecting Gwalia to produce between 235 000 oz and 240 000 oz in the full 2019, compared with the previous... 

Sandfire ups outlook for 2019

By: Esmarie Iannucci     18th April 2019 Copper/gold miner Sandfire Resources has reported another strong quarter at its DeGrussa mine, in Western Australia. Copper production in the three months to March reached 16 062 t, which was on par with the 16 888 t produced in the previous quarter, while gold production also remained stable at... 

Resolute inks new mining convention in Mali

By: Esmarie Iannucci     18th April 2019 Gold miner Resolute Mining has struck a new Mining Convention with the Mali government over its Syama gold mine, lowering the income tax rate on the project from 35% to 25%. Resolute on Thursday reported that the Mali government had also granted a further ten-year extension to the Syama mining... 

Galaxy fails to find JV partner for Sal de Vida

By: Esmarie Iannucci     18th April 2019 The share price of lithium miner Galaxy Resources fell by nearly 12% on Thursday after the company announced that it would close the joint venture (JV) process for its Sal de Vida project, without a deal. Through the second half of 2018 and early 2019, Galaxy conducted an evaluation of strategic... 

Fortescue takes a hit from Veronica

By: Esmarie Iannucci     18th April 2019 Iron-ore major Fortescue Metals has tightened its full year export guidance following Tropical Cyclone Veronica, in late March. The company on Thursday reported that the wet weather conditions resulted in the loss of five days of shipments, equating to some 2.5-million tonnes during the three... 

South32 coking coal output down 37%, energy coal hit by community protests  

By: Esmarie Iannucci     18th April 2019 Diversified miner South32 has lowered its energy coal and alumina production expectations for the full year, following a tough March quarter. Energy coal production for the quarter declined by 1% on the previous quarter, to 6.3-million tonnes, while metallurgical coal production was down 37% to... 

South32 coking coal output down 37%, energy coal hit by community protests
South32 CEO Graham Kerr

A$1bn Winchester South coal project to boost Queensland jobs

By: Esmarie Iannucci     18th April 2019 The A$1-billion Winchester South metallurgical coal project has been declared a Coordinated Project by the Queensland government’s independent Coordinator-General. The opencut mine, which will have a targeted run-of-mine production rate of 15-million tonnes a year of high-quality metallurgical... 

Woodside holds firm in the March quarter

By: Esmarie Iannucci     18th April 2019 Oil and gas major Woodside has reported steady production in the three months to March, compared with the previous corresponding period, with revenues rising 4%. Woodside on Thursday reported a production of 21.7-million barrels of oil equivalent, compared with the 22.1-million barrels in the... 

Goldcorp and Newmont successfully create gold behemoth

By: Creamer Media Reporter      18th April 2019 Gold miners Goldcorp and Newmont have successfully closed their $10-billion merger, creating the world’s largest gold mining business with operations in the Americas, Africa and Australia. Newmont Goldcorp will continue trading on the NYSE with the ticker ‘NEM’ and will begin trading on the TSX... 

Five-month gold strike is over 

By: Martin Creamer     17th April 2019 The five-month strike by the Association of Mineworkers and Construction Union (AMCU) at Sibanye-Stillwater’s South African gold operations is over. Parties have acknowledged that it is in their interest to rebase and develop a constructive relationship going forward, Sibanye-Stillwater said in a... 

Eager black investors fund premium-priced opportunity in zinc, copper 

By: Martin Creamer     17th April 2019 Black investors have self-funded the purchase of shares at a premium price in the fast-tracked redevelopment of the Prieska zinc and copper mine in the Northern Cape, which has a three-year payback and a minimum mine life of ten years. The $8-million equity capital raising by Orion Minerals,... 

Eager black investors fund premium-priced opportunity in zinc, copper
Photo by Creamer Media Chief Photographer Dylan Slater
Orion Minerals’ ‘meet-the-media’ attendees were from left: Jowell Tobias, Godfrey Gomwe, Billy Mawasha, Michelle Jenkins, Errol Smart, Nelson Mosiapoa, Tom Borman, Sharon Matthews and Roger Matthews.

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