R/€ = 17.03 Change: -0.07
R/$ = 16.59 Change: -0.07
Au 1768.32 $/oz Change: -36.89
Pt 868.00 $/oz Change: -8.90

Australasia News

Amec hoping to lure Asian investors to critical minerals

By: Esmarie Iannucci     9th June 2022 The Association of Mining and Exploration Companies (AMEC) has today launched the AMEC Critical Minerals Investment Opportunities document in three languages aimed at informing Asian investors into the investment opportunities in the country. “There is a growing investment interest in Asia for... 

Gold’s haven appeal burnished by drumbeat of growth warnings

By: Bloomberg     9th June 2022 Gold could be heading for another rally, with warnings over a global economic slowdown paving the way for a fresh push toward $2 000/oz. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven, according to speakers... 

An image of gold bars

ASM awards major contract at Dubbo

By: Esmarie Iannucci     9th June 2022 ASX-listed Australian Strategic Materials (ASM) has awarded a A$46.7-million engineering, procurement and construction definition (EPCD) work contract to South Korean major Hyundai Engineering Co (HEC) for the Dubbo polymetallic projects, in New South Wales. The EPCD will include a capital and... 

AEMO ordered to store gas - Minister

By: Esmarie Iannucci     9th June 2022 Following the meeting of Energy Ministers this week, the federal government has tasked the Australian Energy Market Operator (AEMO) to source and store a strategic supply of gas. Speaking in interviews following the Energy Minister’s meeting, federal Climate Change and Energy Minister Chris... 

Image shows LNG container ship

Rio looks at wind and power solutions for Qld aluminium

By: Esmarie Iannucci     9th June 2022 Diversified miner Rio Tinto is calling for proposals to develop large-scale wind and solar power in Central and Southern Queensland to power its aluminium assets. The initiative will help Rio meet its climate change ambitions and further encourage renewable development and industry in the... 

Qld expands RCOE

By: Esmarie Iannucci     9th June 2022 The Queensland government has put forth a further A$5.7-million from the 2022-23 State Budget to further expand the Mackay Resources Centre of Excellence (RCOE), enabling it to become a key player in Queensland’s new economy minerals sector. Treasurer and Minister for Trade and Investment... 

JSE recounts rousing tent-to-tech journey as Southern Palladium turns listing tide  

By: Martin Creamer     8th June 2022 The first in-person listing of the Johannesburg Stock Exchange since covid heard the African kudu horn serenade an opening bid of R6.90 a share for platinum group metals (PGMs) company Southern Palladium, which on Wednesday took its place on the JSE’s main board as a secondary listing under the... 

Creamer Mdedia screenshot.
Southern Palladium’s JSE listing covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Activist Bluebell piles pressure on Glencore to fix coal unit

By: Bloomberg     8th June 2022 Activist investor Bluebell Capital Partners has again asked Glencore Plc to overhaul its climate policy, while seeking support from other shareholders to push for reform at the commodities giant. London-based Bluebell wants Glencore to put forward a plan at next year’s annual meeting to separate... 

S.Korea's LG Energy Solution launches nickel processing plants in Indonesia

By: Reuters     8th June 2022 South Korea's LG Energy Solution (LGES) on Wednesday broke ground on nickel processing plants in Indonesia, part of the company's $9.8-billion investment in the country to produce electric vehicle batteries. The company will build a $3.5-billion smelter with the capacity to produce 150 000 t of... 

Qld coal miners facing tax hike

By: Esmarie Iannucci     8th June 2022 The Queensland Resource Council (QRC) on Wednesday hit out at plans by the Queensland government to increase coal mining royalties. Queensland Treasurer Cameron Dick flagged that royalties would increase in 2022/23. After a decade-long freeze. 

Kaiser Reef adds to Maldon capacity

By: Esmarie Iannucci     8th June 2022 An upgrade of the Maldon gold processing plant, in Victoria, is expected to deliver a 20% increase in throughput rates as well as gold recovery improvements, junior Kaiser Reef said. The ASX-listed company told shareholders that the first part of an upgrade, modernisation and maintenance... 

Windfall tax not on the cards - Minister

By: Esmarie Iannucci     8th June 2022 Federal Energy Minister Chris Bowen has reiterated that there would be no windfall tax against Australian gas companies amid the current energy crunch. The Australian Workers Union (AWU) on Wednesday called on the federal government to put a windfall tax on the table to ‘force multinational gas... 

Western Areas marks last day of share trading

By: Esmarie Iannucci     8th June 2022 The scheme of arrangement between nickel miner Western Areas and fellow-listed Independence Group (IGO) is now legally effective, after the Supreme Court of Western Australia backed IGO’s takeover bid, and the lodgement of the orders with the Australian Securities and Investment Commission... 

Santos to invest A$360m in more gas

By: Esmarie Iannucci     8th June 2022 Oil and gas major Santos has announced a A$360-million investment to drill and connect more than 130 new production wells in the Fairview gas field, north of Roma. Work will start in June with first gas in October this year.  

Image shows workers at a Santos plant

Rio's drive for female staff pays off

By: Esmarie Iannucci     8th June 2022 Major Rio Tinto this week revealed that its female-focused recruitment drives have attracted more than 3 000 applicants in Western Australia and New Zealand. In Western Australia, the Transferable Pathways campaign, which launched last month, attracted about 1 600 responses, which was roughly... 

BHP invests in blue carbon

By: Esmarie Iannucci     8th June 2022 Diversified miner BHP has launched a A$3-million grants program to help drive the development of the Australian blue carbon market. BHP’s Blue Carbon Breakthrough Grant Program will support shovel-ready projects and is open for applications, while BHP’s Blue Carbon Enabler Program will support... 

Increased efficiency cuts carbon, advances net-zero path, research finds  

By: Martin Creamer     8th June 2022 Like all other key industries, mining is having to advance along a net-zero path as part of the global decarbonisation drive. Gone are the days when innovation and financial improvement can be sold on their own without a carbon advantage. (Also watch attached Creamer Media video.) 

Creamer Media screenshot.
Rocsole CEO Mika Tienhaara interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

ETFs shed $3bn worth of gold assets in May

By: Marleny Arnoldi     7th June 2022 The World Gold Council (WGC) reports that outflows of global gold-backed exchange-traded funds (ETFs) have ended their four-month run of positive inflows, with outflows totalling 53 t, or $3.1-billion, in May. While this was the largest monthly outflow since March 2021, total holdings remain 8%... 

Rare earths mining marking time amid prospecting bid to explore on same site 

By: Martin Creamer     7th June 2022 A rare earths development is marking time owing to a prospecting right appeal to explore where a mining right has already been granted, Steenkampskraal chairperson Trevor Blench disclosed at last week’s Junior Indaba. The Steenkampskraal mine contains all fifteen rare earths, including those that... 

Picture supplied
Steenkampskraal chairperson Trevor Blench.

Yancoal rejects potential offer

By: Esmarie Iannucci     7th June 2022 An independent board committee appointed by ASX-listed Yancoal Australia to evaluate a potential takeover bid from shareholder Yankuang Energy Group Company has concluded that the offer would not be in the best interest of minority shareholders. Yankuang Energy, which holds a 37.7% stake in... 

Moody's expects most commodity prices to remain high over short term

By: Marleny Arnoldi     7th June 2022 Financial research firm Moody’s Investor Service says in its latest outlook for metals and mining that most commodity prices will remain high for the time being, supporting increases in earnings for many companies. Particularly, base metals prices will remain high and volatile, as prices for... 

Yankuang Energy says open to buying rest of Yancoal Australia

By: Reuters     7th June 2022 China's Yankuang Energy said on Tuesday that it was open to negotiations to buy the remaining shares in its majority-owned unit Yancoal Australia, after the Australian coal firm rejected a $1.8-billion offer. Yankuang, which owns 62.26% of Yancoal's shares, said last month that it was... 

Rio targets green steel in Germany

By: Esmarie Iannucci     7th June 2022 Diversified miner Rio Tinto has inked a memorandum of understanding (MoU) with Germany’s Salzgitter Group to study the optimisation of Rio’s Australian and Canadian iron-ore products for use in a green steel project, in Germany. Under the MoU, Rio Tinto and Salzgitter will explore optimisation... 

Gas and coal both required to stymie energy crunch, says Australia's King

By: Esmarie Iannucci     7th June 2022 Newly appointed Resources Minister Madeleine King is looking at Australian gas producers to increase supply to domestic markets, but has also noted that coal-fired power stations would be essential to combat Australia’s energy crunch in the short term. Speaking to ABC Radio, King applauded both... 

Image shows coal fired power stations

Hasting having a blast at Yangibana

By: Esmarie Iannucci     7th June 2022 Rare earths developer Hastings Technology Metals has marked the first construction blast at its A$658-million Yangibana project, in Western Australia. The company said on Tuesday that the blast represented the start of the next phase of infrastructure development works at Yangibana, on the way... 

Ansto helps with new lithium extraction method

By: Esmarie Iannucci     7th June 2022 Australia’s Nuclear Science and Technology Organisation (ANTSO) has joined forces with ASX-listed Lithium Australia to develop a world-first technology to extract more lithium from lithium mining waste, in a game-changer for Australian lithium industry. In a statement this week ANTSO noted that... 

Volt finds offtake partner for Tanzanian project

By: Esmarie Iannucci     7th June 2022 ASX-listed Volt Resources has inked a letter of intent (LoI) with battery anode material producer Graphex Group for the sale of 5 000 t/y of graphite from its Bunyu project, in Tanzania, for a period of ten years from the start of production. The LoI is non-binding and would see the parties... 

Woodside lists in London

By: Esmarie Iannucci     7th June 2022 Oil and gas major Woodside has been admitted to the London Stock Exchange, under the ticker WDS, just days after its shares started trading on the NYSE. Woodside recently completed completed the merger with diversified miner BHP’s petroleum business, creating a top 10 global independent energy... 

Barminco wins major Cowal contract

By: Esmarie Iannucci     7th June 2022 Gold miner Evolution Mining has awarded ASX-listed mining services provider Perenti a near A$520-million underground mining contract at the Cowal gold mine, in New South Wales. Perenti on Tuesday announced that its subsidiary Barminco had been awarded the new contract, expanding the divisions’... 

More production flagged at Lake Wells

By: Esmarie Iannucci     7th June 2022 Updated flow models at the Lake Wells sulphate of potash (SOP) project, in Western Australia, has flagged the potential for increased production from brine from the 120 000 t/y previously indicated, to 135 000 t/y. A 2019 definitive feasibility study (DFS) into the project found that SOP... 

Santos looks to up Cooper basin output

By: Esmarie Iannucci     7th June 2022 Joint venture partners Santos and Beach Energy will work to boost gas supply from the Cooper Basin, bringing a fifth drilling rig into the basin and optimising well connections. Santos said this week that the programme of works was aimed at delivering an additional 15 terajoules of gas per day... 

Walkabout encounters delays at Tanzania graphite project

By: Mariaan Webb     6th June 2022 Australia-listed Walkabout Resources said on Monday that shipments of equipment from China for its Lindi Jumbo graphite project, in Tanzania, had been suspended, pending the completion of the drawdown of $20-million in debt. The company explained that one of the conditions precedent (CP) for the... 

Jervois ups working capital facility to $150m

By: Creamer Media Reporter      6th June 2022 ASX- and TSX-V-listed Jervois Global has increased its working capital facility with Mercuria Energy Group by $75-million to $150-million. The key terms of the facility remain unchanged. The facility continues to have a maturity date of December 31, 2024, with yearly interest payable on amounts... 

Liontown and Tesla make offtake official

By: Creamer Media Reporter      6th June 2022 Australia’s Liontown and electric vehicle (EV) manufacturer Tesla have executed a full-form agreement for the supply of spodumene concentrate from the Kathleen Valley lithium project, in Western Australia. The full-form agreement expands the detail on the material terms agreed in the binding... 

Golden moment at King of the Hills

By: Mariaan Webb     6th June 2022 Australian bullion miner Red 5 on Sunday completed the first gold pour at King of the Hill project, in Western Australia. The first smelt delivered two gold dore bars, weighing 1 588 oz, following the recent commissioning of the gravity and elution circuits. 

Rio Tinto starts drilling at Alderan’s Frisco in Utah

By: Creamer Media Reporter      6th June 2022 Rio Tinto subsidiary Kennecott Exploration Company has started drilling on the Copper Gulch prospect of ASX-listed Alderan Resources’ Frisco project in Utah, US. Alderan MD Scott Caithness explains that Copper Gulch is a porphyry copper target, about 500 m south-west of the copper-rich... 

Trek accelerates battery metals strategy with WA manganese acquisition

By: Mariaan Webb     6th June 2022 ASX-listed Trek Metals on Monday announced the proposed acquisition of the advanced South Woodie Woodie manganese project in the Pilbara, accelerating its battery metals strategy. Trek has entered into a binding scheme implementation agreement under which it will acquire the shares of unlisted... 

Base Resources takes production knock in Kenya amid heavy rains

By: Marleny Arnoldi     6th June 2022 ASX- and Aim-listed minerals sands producer Base Resources has advised of heavy rainstorms impacting its Kwale operations, in Kenya. A series of rainstorms in recent days have caused flash flooding, which overwhelmed the project’s dewatering system for the three operating hydraulic mining units... 

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