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Australasia News

Rio Tinto injects another $302m into Arizona copper project

By: Esmarie Iannucci     15th April 2019 Major Rio Tinto will invest a further $302-million to advance the Resolution copper project, in Arizona. Rio, which owns a 55% interest in the project, and project partner BHP, which owns the remaining 45% interest, have invested over $2-billion on the permit since 2004, including on sinking a... 

Mt Thirsty North gets maiden resource

By: Esmarie Iannucci     12th April 2019 Junior Barra Resources has reported a maiden inferred Joint Ore Reserves Committee compliant mineral resource of 1.5-million tonnes, grading 0.092% cobalt and 0.55$ nickel at its Mt Thirsty North deposit, in Western Australia. The maiden resource estimate for the Mt Thirsty North deposit is in... 

Orocobre and Toyota Tsusho approve Japan plant

By: Esmarie Iannucci     12th April 2019 Lithium miner Orocobre and its joint venture partner Toyota Tsusho Corporation have approved the development of the $77.6-million Naraha lithium hydroxide plant, in Japan. “We are excited to announce the approval of the Naraha project. The construction of the Naraha lithium hydroxide plant will... 

Woodside opens LNG truck loading facility at Pluto

By: Esmarie Iannucci     12th April 2019 Oil and gas major Woodside has opened a new liquefied natural gas (LNG) truck loading facility at the Pluto LNG project, in Western Australia. Following the completion of the commissioning activities, the facility will deliver seven LNG truck loadings a day, each transporting 80 000 l of diesel.... 

Woodside opens LNG truck loading facility at Pluto

Prominent Hill on track for full-year targets

By: Esmarie Iannucci     12th April 2019 Copper and gold miner Oz Minerals on Friday said that it remained on track to reach its full-year production guidance, despite lower output during the three months to March. Total copper production for the first quarter ended March reached 27 442 t, with the Prominent Hill project delivering 25... 

NT tiptoes into fracking

By: Esmarie Iannucci     12th April 2019 The Northern Territory government has opened up the first environment management plan for onshore shale gas exploration drilling for public comment. The proposed drilling, to be undertaken by oil and gas giant Santos, will be the first since the moratorium on hydraulic fracturing in the Northern... 

Mbazima to retire from Anglo American after 18 years 

By: Creamer Media Reporter      12th April 2019 Norman Mbazima will step down as deputy chairperson of Anglo American South Africa on June 30. “Norman has made an exceptional contribution to Anglo American over the last 18 years, delivered with tireless energy, most recently as deputy chairperson of Anglo American South Africa. He has played... 

Mbazima to retire from Anglo American after 18 years
Photo by Creamer Media
Norman Mbazima

Platinum edges out of the doldrums at last as labour threat looms

By: Bloomberg     12th April 2019 After months of being ignored in favor of market darling palladium, platinum is finally getting some attention from investors. The metal, which is mostly used to make jewelry and reduce emissions from car exhausts, is trading near the highest since May and money is pouring into platinum-backed... 

Newmont shareholders vote in favour of merger with Goldcorp

By: Creamer Media Reporter      11th April 2019 Shareholders of NYSE-listed Newmont Mining on Thursday voted in favour of the proposed transaction with TSX- and NYSE-listed Goldcorp. Goldcorp’s shareholders voted in favour of the transaction on April 4. 

Hydrogen and platinum at centre of climate change solution – Anglo    

By: Martin Creamer     11th April 2019 Hydrogen is at the centre of the solution to climate change and platinum, in turn, is at the centre of hydrogen, London-based Anglo American executive head of market development Benny Oeyen emphasised when he spoke to Mining Weekly Online on the sidelines of this week’s Platinum Group Metals... 

Hydrogen and platinum at centre of climate change solution – Anglo
Mining Weekly Online’s Martin Creamer speaks to Anglo American executive head of market development Benny Oeyen. Video: Nicholas Boyd. Photographs: Dylan Slater.

Graff shapes world’s largest square emerald cut diamond

By: Marleny Arnoldi     11th April 2019 Multinational jeweller Graff has cut the largest square emerald cut diamond in the world, which ranks as the largest high-colour, highest clarity diamond ever graded by the Gemological Institute of America. Dubbed the Graff Lesedi La Rona, the diamond weighs in at 302.37 ct, and is a top... 

Graff shapes world’s largest square emerald cut diamond
The 302 ct Graff Lesedi La Rona diamond

Orion Minerals halts securities trading at JSE as it prepares for capital raising

By: African News Agency      11th April 2019 Australian miner Orion Minerals on Thursday requested an immediate trading halt be placed on its securities in the Johannesburg Stock Exchange (JSE) as it anticipates making a material announcement in relation to a proposed capital raising. Orion said the trading halt was requested until the... 

Xanadu scopes 20Mt opencut operation

By: Esmarie Iannucci     11th April 2019 A scoping study into the Kharmagtai openpit copper/gold project, in Mongolia, has confirmed the project economics and the project’s potential to become a robust, high margin, rapid payback and long-life operation, dual listed Xanadu Mines said. The scoping study estimated that the 20-million... 

New Century increases production in March quarter

By: Esmarie Iannucci     11th April 2019 Base metals miner New Century Resources has reported more than a 50% increase in zinc production for the quarter ended March. New Century on Thursday reported that 18 170 t of zinc was produced in 37 500 t of concentrate, grading 48.3% zinc, compared with the 25 500 t of concentrate produced in... 

Laneway starts mining in Queensland

By: Esmarie Iannucci     11th April 2019 Mining has started at the Agate Creek gold project, in North Queensland, following the grant of a mining lease over the Sherwood deposit. ASX-listed Laneway Resources on Thursday told shareholders that the ore mined will be stockpiled at site, after which it will be transported to Maroon Gold’s... 

Walkabout strikes global marketing agreement

By: Esmarie Iannucci     11th April 2019 Graphite developer Walkabout Resources has signed a binding global sales, purchase and marketing agreement with international commodities trading house Wogen Pacific. Under the terms of the agreement, Wogen will actively market Walkabout’s graphite concentrate, initially contracting to buy and... 

Stavely raises funds for exploration

By: Esmarie Iannucci     11th April 2019 Junior Stavely Minerals will raise A$4.2-million through a share placement to fast-track exploration at its portfolio of gold and porphyry copper/gold projects in Victoria, Tasmania and Queensland. The company will issue 12.3-million shares at a price of 26c to sophisticated and institutional... 

Kingsgate insurers pay out

By: Esmarie Iannucci     11th April 2019 ASX-listed Kingsgate Consolidated has received $55-million from its political risk insurers after settling a legal dispute with the company. Kingsgate in March signed a binding heads of agreement with its insurance providers agreeing to a settlement that included the $55-million cash payment, and... 

Sumatra calls in administrators

By: Esmarie Iannucci     11th April 2019 ASX-listed Sumatra Copper & Gold on Thursday told shareholders that it would voluntarily appoint administrators after failing to raise funding to restructure its debt. Sumatra subsidiary PT Dwinad Nusa Sejahtera, which operated the Tembang project in Indonesia, has been in discussions with its... 

Sumatra calls in administrators

Whitehaven revises full-year expectations

By: Esmarie Iannucci     11th April 2019 Coal miner Whitehaven Coal has revised its full year production guidance, as mine scheduling impacts output from the Maules Creek mine, in New South Wales. Run-of-mine coal production for the full year has been revised from the previous guidance of 22-million to 23.2-million tonnes, to between... 

From turbines to thermostats: Copper miners eye high-tech demand

By: Reuters     11th April 2019 Growing demand for smart thermostats, wind turbines and other high-tech devices is expected to keep copper the dominant material used in electrical components, industry players said, offsetting rising use of aluminum, a cheaper alternative to conduct electricity. That bodes well for the likes of... 

From turbines to thermostats: Copper miners eye high-tech demand

Australia establishes a battery research centre in Perth

By: Esmarie Iannucci     10th April 2019 The federal government is providing a A$25-million grant to an industry-led cooperative research centre aimed at developing battery manufacturing in Western Australia. The A$135-million Future Battery Industries Cooperative Research Centre will help tackle industry identified gaps in the battery... 

Australia establishes a battery research centre in Perth

Base lowers expectations for 2020

By: Esmarie Iannucci     10th April 2019 Mineral sands miner Base Resources has flagged lower production expectations for the 2020 financial year as operations at the Kwale mineral sands project, in Kenya, moved from the Central Dune orebody to the South Dune orebody. For the full 2019, Base is expecting to produce between 88 000 t to... 

Spectrum raises funds for Penny West exploration

By: Esmarie Iannucci     10th April 2019 Gold explorer Spectrum Metals will raise A$5-million to fund exploration at its Penny West project, in Western Australia. Spectrum will place more than 208.3-million shares at a price of 2.4c each to raise the capital, offering institutional and sophisticated buyers a 14% discount to its closing... 

Orinoco Gold chairperson quits

By: Esmarie Iannucci     10th April 2019 Embattled gold miner Orinoco Gold has reported the resignation of nonexecutive chairperson Adrian Byass and nonexecutive director Andrew Allan, only days after administrators were appointed. Orinoco at the end of last week appointed administrators after the ASX suspended share trading of Orinoco... 

Rox joins Venus on Youanmi hunt

By: Esmarie Iannucci     10th April 2019 Junior Rox Resources has signed a binding term sheet with fellow listed Venus Metals to acquire a majority stake in the Youanmi gold mine, in Western Australia. Under the terms of the agreement, Rox would acquire an initial 50% stake in the joint venture by providing Venus A$2.8-million to... 

ERA production slides during March quarter

By: Esmarie Iannucci     10th April 2019 Uranium miner Energy Resources of Australia (ERA) has reported a 14% drop in production during the three months to March, compared with the previous corresponding period. Uranium production during the first quarter reached 526 t, with ERA reporting a 9% decline in the tonnes of ore milled. 

Queensland miners spending more with local businesses

By: Esmarie Iannucci     10th April 2019 Queensland’s small- and medium-sized businesses are benefitting from the resource sector’s redirection of spending away from overseas and interstate suppliers. New data by the Queensland Resources Council has shown that spending by the resources sector on local small and medium-sized businesses... 

Middle Island lowers threshold for Alto deal

By: Esmarie Iannucci     10th April 2019 Junior Middle Island Resources has varied the minimum acceptance condition for its takeover offer of fellow-listed Alto Metals from 90% to 50.1%. The ASX-listed Middle Island on Wednesday said that all other conditions for the offer remained unchanged. 

Flinders tanks delisting plans

By: Esmarie Iannucci     10th April 2019 The share price of ASX-listed Flinders Mines rose by nearly 13% on Wednesday after the company scrapped plans to de-list from the ASX. Flinders said that the decision to withdraw its revised de-listing application from the ASX followed after shareholder consultation. 

Block on competing licences at Prairie's Jan Karski lifted

By: Creamer Media Reporter      9th April 2019 An Appeals Court in Warsaw has overturned a Civil Court injunction that prevented the Polish Ministry of Environment (MoE) from granting competing licences over the Jan Karski project of Prairie Mining. The dual-listed company is in the midst of an ongoing civil law claim against the MoE, owing... 

Rio Tinto to join World Bank's green mining programme

By: Reuters     9th April 2019 Rio Tinto said on Tuesday it will join a World Bank initiative intended to help developing countries sustainably mine lithium, cobalt and other minerals critical to the global electrification trend. Rio's participation in the program, known as Climate-Smart Mining and set to launch in May, comes... 

Platinum demand investment reaps reward – Amplats  

By: Martin Creamer     9th April 2019 The best lever to stimulate platinum demand is platinum jewellery promotion, which provides the best return “by a country mile", Anglo American Platinum CEO Chris Griffith said on Tuesday. Speaking at the Platinum Group Metals (PGMs) industry day, Griffith said that the work done by the platinum... 

Platinum demand investment reaps reward – Amplats
Amplats CEO Chris Griffith discusses the platinum demand market over the short to medium term. Video and editing: Nicholas Boyd.

Rio reveals $6.6bn tax bill for 2018

By: Esmarie Iannucci     9th April 2019 Mining major Rio Tinto on Tuesday revealed that it has paid some $6.6-billion in taxes and royalties during 2018, up from the $5.1-billion paid the year before. The miner paid some $4.8-billion in royalties and taxes in Australia during 2018, of which $3.17-billion was corporate income tax and... 

Pacifico raises A$4m for Sorby Hills buy

By: Esmarie Iannucci     9th April 2019 ASX-listed Pacifico Minerals is hoping to raise A$4-million through a share placement to finalise the acquisition of a majority interest in the Sorby Hills base metals project, in Western Australia. The company will issue some 666-million shares, at a price of 0.6c a share over two tranches to... 

PNG LNG signs framework agreement

By: Esmarie Iannucci     9th April 2019 The joint venture partners in the Papua New Guinea (PNG) liquefied natural gas project have inked a gas agreement with the Independent State of PNG defining the fiscal framework for the project. Project partner Oil Search’s MD Peter Botton told shareholders on Tuesday that the fiscal and other... 

Beacon raises funds for Juardi development

By: Esmarie Iannucci     9th April 2019 Junior Beacon Minerals is hoping to raise A$7.1-million through a fully underwritten non-renounceable entitlement issue. The one-for-five entitlement issue will be priced at 1.7c a share, with eligible shareholders to receive one free attaching listed option for every two new shares subscribed for. 

SRG wins A$18m Kalgoorlie contract

By: Esmarie Iannucci     9th April 2019 Mining services provider SRG Global has been awarded an A$18-million contract at the Kalgoorlie gold mine, to provide geotechnical ground support services. The ASX-listed company said that the work under the contract included both in-phase ground support, rock fall mitigation and rock face... 

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