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Australasia News

Pitt urges more oil and gas development

By: Esmarie Iannucci     19th May 2020 Federal Resources, Water and Northern Australia Minister Keith Pitt has called for continued investment in the Australian oil and gas sector, despite the price volatility. Speaking in Queensland, Pitt this week said that despite the recent, short-term global oil and gas prices volatility,... 

OreCorp raises A$13m for Tanzanian project

By: Esmarie Iannucci     19th May 2020 Gold and base metal developer OreCorp has raised A$13.56-million through a share placement to institutional and sophisticated investors to fund continued work at its Nyanzaga gold project, in Tanzania. The company will place 45.2-million shares, at a price of 30c each in a single tranche, under... 

Glencore Coal donating food to Mpumalanga communities

By: Martin Creamer     18th May 2020 Glencore group company Glencore Coal had, at the time of Mining Weekly going to press, distributed more than 1 250 food parcels worth over R658 000 to the communities of Mpumalanga, as part of its ongoing response to the Covid-19 pandemic. Last month, the London- and Johannesburg-listed Glencore... 

Glencore Coal donating food to Mpumalanga communities
Glencore Coal's food parcels for distribution to vulnerable communities.

Hybrid renewable microgrid up and running at Gold Fields' Agnew

By: Esmarie Iannucci     18th May 2020 The 56 MW Agnew hybrid renewable project at gold miner Gold Field’s Agnew mine, in Western Australia, has been completed. Energy producer EDL on Monday said that all five wind turbines were now operational and have been successfully integrated into Australia’s largest hybrid renewable microgrid,... 

Hybrid renewable microgrid up and running at Gold Fields' Agnew

Atrum welcomes winds of change in Alberta

By: Esmarie Iannucci     18th May 2020 Coal developer Atrum Coal has welcomed a decision by the Alberta government to repeal the Coal Development Policy for Alberta, saying it represented a significant step forward to the targeted future development of Atrum’s Elan hard coking coal project. Atrum said on Monday that the repeal of... 

Atrum welcomes winds of change in Alberta

Sipa concludes royalty sale

By: Esmarie Iannucci     18th May 2020 Junior Sipa Resources has raised A$2.25-million from the sale of its royalty portfolio to royalties company SilverStream. The company in March this year inked a binding preliminary purchase agreement with SilverStream over the royalties that exist over several projects previously identified and... 

Agrimin Mackay gets 'major project' status

By: Esmarie Iannucci     18th May 2020 The Australian government has granted ASX-listed Agrimin Major Project Status for its Mackay potash project, in Western Australia. Minister for Industry, Science and Technology Karen Andrews said the project would provide significant economic benefits at such a critical time. 

Agrimin Mackay gets 'major project' status

Hot Chili raises A$8.9m

By: Esmarie Iannucci     18th May 2020 Copper developer Hot Chili is hoping to raise A$8.9-million through a private share placement and a rights issue to fund work at its Cortedera project, in Chile. The ASX-listed company on Monday said it had successfully arranged for a A$5-million private placement to sophisticated and... 

Gold, silver race higher on fear of second virus wave

By: Bloomberg     15th May 2020 Gold and silver are finishing the week on a high note, lifted by concerns over economic growth, a second wave of virus infections and simmering tensions between the U.S. and China. Gold headed back toward its peak in April, when prices hit the highest since 2012. Silver jumped to a two-month... 

Turquoise Hill updates mine design for Oyu Tolgoi underground

By: Mariaan Webb     15th May 2020 Rio Tinto-controlled Turquoise Hill has completed the an updated mine design for Panel 0 – the first panel of mining at its Oyu Tolgoi underground project – narrowing the previously announced cost overrun and delay ranges. The approved design is based on a block cave approach, which leaves two... 

Turquoise Hill updates mine design for Oyu Tolgoi underground
The Oyu Tolgoi concentrator

Central banks indicate they will continue to buy gold, some more than usual 

By: Marleny Arnoldi     15th May 2020 The World Gold Council (WGC) in its latest 'Central Bank Gold Reserves (CBGR)' survey highlights several notable shifts in central bank attitudes towards gold this year. Increased interest in gold’s performance during times of crisis would suggest that the fast-changing financial and economic... 

Central banks indicate they will continue to buy gold, some more than usual

BCI adds to Mardie footprint

By: Esmarie Iannucci     15th May 2020 Junior BCI Minerals has secured a new tenement area adjacent to its Mardie salt and potash project, in Western Austraila. BCI Minerals on Friday announced that it would pay owner Leichhardt Industrials A$3.5-million on cash on the completion of the tenement right acquisition. 

Panoramic completes Canadian project sale

By: Esmarie Iannucci     15th May 2020 Nickel miner Panoramic Resources has completed the sale of its Thunder Bay North project, in Canada, to Clean Air Metals, which was formerly known as Regency Gold Corp. Panoramic in January inked a share purchase agreement for its subsidiary Magma Metals selling asset for C$9-million in cash. 

Heron gets extension on standstill agreement

By: Esmarie Iannucci     15th May 2020 Base metals junior Heron Resources has received a further extension to the standstill agreement with senior deb provider Orion Mine Finance (OMF) to determine a forward path for its Woodlawn project, in New South Wales. Heron in March suspended operations at Woodlawn amid travel restrictions... 

Flinders raises cash

By: Esmarie Iannucci     15th May 2020 ASX-listed Flinders Mines is hoping to raise A$5.5-million through a non-renounceable entitlement offer, priced at 1.3c a share. The entitlement offer will comprise some 425.8-million shares, and will be offered on the basis of one new share for every nine existing shares held.  

Australian LNG exports stay strong

By: Esmarie Iannucci     15th May 2020 Australian liquefied natural gas (LNG) exports in April continued apace, despite the global surplus of LNG and a slowdown in economic activity as a result of the Covid-19 pandemic, energy advisory EnergyQuest has found. In its latest report, EnergyQuest noted that in April, Australian LNG... 

Australian LNG exports stay strong

Australian Parliament passes hydrogen legislation

By: Esmarie Iannucci     15th May 2020 The Australian Parliament this week passed the Offshore Petroleum and Greenhouse Gas Storage (OPGGS) Amendment Bills amending the OPGGS Act 2006, which could pave the way for a new hydrogen industry in Australia. The Amendment Bills were now awaiting royal assent. “As Australia emerges from the... 

Australian Parliament passes hydrogen legislation

WA fixes construction mineral royalty

By: Esmarie Iannucci     15th May 2020 The Western Australian government on Friday announced that royalty rates for construction and industrial minerals used by Western Australia's building and construction sector will remain fixed for the next five-years starting in July. 

Alcoa CEO sees no certainty a definitive recovery is coming

By: Bloomberg     15th May 2020 Alcoa Corp CEO Roy Harvey isn’t ready to declare that the world is on the road to recovery yet. Speaking at a virtual metals and mining conference on Thursday, the head of the aluminum producer said there remains too much uncertainty in global economies to feel comfortable saying the situation... 

Gold's implied returns to come down sooner or later, says WGC

By: Marleny Arnoldi     14th May 2020 The World Gold Council (WGC) has analysed the potential performance of gold across four hypothetical scenarios provided by Oxford Economics in light of Covid-19 and ensuing economic lockdowns slashing global growth forecasts for this year. The WGC explains that gold’s behaviour can be explained... 

Glencore beats emissions target, sets out to deliver safety step change 

By: Martin Creamer     14th May 2020 Diversified mining and marketing company Glencore significantly surpassed its emission target in 2019 but described its safety performance as being unacceptable. In announcing the publication on its website of its 2019 Sustainability Report as well as its environment, social and governance (ESG)... 

Glencore beats emissions target, sets out to deliver safety step change
Glencore’s head of sustainable development Anna Krutikov

OceanaGold sinks to Q1 loss, maintains production guidance

By: Marleny Arnoldi     14th May 2020 TSX- and ASX-listed OceanaGold posted a net loss of $26-million in the first quarter of the year, and an adjusted net loss of $10.7-million. This equated to an adjusted loss per share of $0.02 apiece. The first-quarter loss compares with net profit of $8.7-million in the fourth quarter of 2019... 

Power station switch from coal to hydrogen sets new global example 

By: Martin Creamer     14th May 2020 The transitioning of a US power station from coal to renewable hydrogen is leading the way in a world urgently in need of meaningful action to combat climate change. The ground-breaking transition by Intermountain Power Agency of Utah, is being facilitated by Mitsubishi Hitachi Power Systems,... 

Power station switch from coal to hydrogen sets new global example
Photo by MHPS
Renewable hydrogen stored underground.

Orion granted $1m loan

By: Marleny Arnoldi     14th May 2020 A private equity funder of ASX-listed Orion Minerals has continued its support of the company by providing it with a new unsecured $1-million loan facility. The terms of the loan facility, provided by Tembo Capital Mining Fund II, include that any amount capitalised under the load facility will... 

Marmota makes a competing offer for Jumbuck

By: Esmarie Iannucci     14th May 2020 Junior Marmota has made a A$1.3-million competing offer to fellow-listed Tyranna Resources to acquire its Jumbuck gold project, in Western Australia. Tyranna in October of last year inked a term sheet with Syngas for the proposed sale of the Jumbuck gold project for A$950 000 in cash. Under the... 

Middle Island raises funds

By: Esmarie Iannucci     14th May 2020 Junior Middle Island Resources has received firm commitments to raise A$4-million to fund a drilling campaign at its Sandstone gold project, in Western Australia. Middle Island will place some 3636-million shares, at a price of 1.1c each under the company’s existing placement capacity. 

A$1bn Olive Downs a step closer to development

By: Esmarie Iannucci     14th May 2020 The A$1-billion Olive Downs metallurgical coal mine being developed by Pembroke Resources in Queensland, has received approvals from the Department of Agriculture, Water and the Environment under the Environment Protection and Biodiversity Conservation (EPBC) Act. Pembroke said on Thursday that... 

A$1bn Olive Downs a step closer to development

Chalice raises A$30m for Julimar work

By: Esmarie Iannucci     14th May 2020 Dual-listed Chalice Gold mines will raise A$30-million through a share placement to institutional and sophisticated investors to fund the next phase of exploration at its Julimar base metals project, in Queensland. The ASX- and OTCQB-listed company on Thursday said that fir commitments had been... 

Titan ticks the boxes at Core

By: Esmarie Iannucci     14th May 2020 The shareholders of Canadian takeover target Core Gold has approved a proposed consolidation of the company’s common shares and its delisting from the Toronto Stock Exchange, as ASX-listed Titan Minerals’ acquisition of the company was completed. “We are extremely pleased to complete the... 

More gas doled out at Atlas

By: Esmarie Iannucci     14th May 2020 ASX-listed Senex Energy has inked a domestic gas sales agreement with power generator CleanCo Queensland for 2.55 PJ of natural gas from its Atlas project, starting in January next year. The gas will be supplied at the Wallumbilla gas hub, in Queensland, at a fixed price in line with the... 

Queensland releases gas exploration acreage

By: Esmarie Iannucci     14th May 2020 The Queensland government has made more than 6 700 km2 of land available for gas exploration and a new explorer looking to supply Australian-only gas users. Mines Minister Dr Anthony Lynham on Thursday announced 12 prospective parcels of land were now open to tender across Queensland’s resource... 

Queensland releases gas exploration acreage

Rio hunting for staff in WA

By: Esmarie Iannucci     14th May 2020 Major Rio Tinto has revealed more than 300 vacancies within its Western Australian iron-ore business, with the miner continuing its recruitment for skilled roles, apprentices, graduates and Aboriginal trainee. The miner this week noted that the available roles included skilled operational and... 

Mining companies keen to pursue IoT-enabled projects

By: Schalk Burger     13th May 2020 Satellite communication services multinational Inmarsat's research shows that 65% of mining organisations have fully deployed at least one Internet of Things- (IoT-) enabled project across their mine sites. It adds that the mining sector is in the midst of an IoT revolution. 

Hydrogen gaining increasing levels of interest – AP Ventures 

By: Martin Creamer     13th May 2020 Hydrogen and the applications that it can enable are gaining increasing levels of interest and traction, says AP Ventures LLP. “We’re very optimistic about the role that fuel cells and hydrogen will play in decarbonising key sectors of the economy,” says AP Ventures in a written response to... 

Hydrogen gaining increasing levels of interest – AP Ventures
Photo by Bloomberg
Platinum-using hydrogen fuel cell.

Philippine miners can fully operate, but quarantine rules set

By: Reuters     13th May 2020 Miners in the Philippines, one of the world's top nickel ore suppliers, are allowed to operate at full capacity as the country begins to relax coronavirus-containment measures, but they must follow strict safety protocols, the government said. The Mines and Geosciences Bureau (MGB) has released... 

Aus introduces new legislation to help small businesses

By: Esmarie Iannucci     13th May 2020 The Federal government on Wednesday introduced legislation to Parliament to assist small businesses to get paid on time. The Payment Times Reporting Bill 2020 will legislate transparency for large business payment times by requiring large businesses to report payment performance providing small... 

Resolute completes share placement for A$195m raise

By: Esmarie Iannucci     13th May 2020 Gold miner Resolute Mining has completed a A$195-million capital raise after gaining shareholder approval for the second tranche of its placement. The miner in January announced plans for the capital raise to repay its $130-million Toro Gold bridge facility. 

World’s top mining companies committed to climate change solutions – ICMM 

By: Martin Creamer     13th May 2020 Twenty seven of the world's leading mining and metals companies and 36 associations are committed to climate change solutions through their membership of the International Council on Mining and Metals (ICMM), Mining Weekly can today report. The ICMM is an international organisation dedicated to a... 

World’s top mining companies committed to climate change solutions – ICMM
International Council on Mining and Metals CEO Tom Butler
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