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Australasia News

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... 

Walkabout strikes new offtake in Tanzania

By: Esmarie Iannucci     9th April 2019 Graphite developer Walkabout Resources has inked a second binding offtake agreement over its Lindi Jumbo project, in Tanzania. The company has inked a term sheet with graphite product manufacturer Qingdao Risingdawn Graphite Technology Company to deliver 10 000 t of flake graphite over a three... 

Westgold strikes new lithium royalties deal

By: Esmarie Iannucci     9th April 2019 Gold miner Westgold Resources has struck a revised royalty sale agreement for the lithium royalties on its Mt Marion and Buldania projects, in Western Australia, with Silverstream SEZC. Westgold in December of last year struck an initial agreement with Silverstream over the lithium rights of its... 

MinRes prices $750m notes

By: Esmarie Iannucci     9th April 2019 ASX-listed Mineral Resources will offer up to $750-million in senior unsecured notes due in 2027 to refinance its existing credit facilities. The company on Tuesday reported that the notes would only be offered to qualified institutional buyers in the US, and to certain buyers outside of the US... 

Federal govt clears Adani’s groundwater plan

By: Esmarie Iannucci     9th April 2019 The Minerals Council of Australia (MCA) has called on the Queensland government to finalise the remaining approvals for Indian major Adani’s $16.5-billion Carmichael mine and rail project after the federal Environment Minister approved the groundwater management plan for the project. Minister... 

Federal govt clears Adani’s groundwater plan

Wesfarmers defends talks with Malaysia over Lynas

By: Esmarie Iannucci     9th April 2019 ASX-listed Wesfarmers on Tuesday confirmed that it had engaged in discussions with the Malaysian government over takeover target Lynas, but dismissed suggestions that it had interfered with government processes. The company, which wants to buy the rare-earths miner for A$1.5-billion, said it... 

Rio Tinto approves $463m Zulti South project to extend RBM's life 

By: Creamer Media Reporter      8th April 2019 Diversified miner Rio Tinto on Monday approved the construction of the $463-million Zulti South project − the next stage in the development of mineral sands producer Richards Bay Minerals (RBM), in South Africa's KwaZulu-Natal province. The project will sustain RBM's current capacity, as well as... 

Rio Tinto approves $463m Zulti South project to extend RBM's life
Photo by Bloomberg
Rio Tinto CEO Jean-Sebastian Jacques

As Goldman backs off, Citi says chase iron-ore rally to $100/t

By: Bloomberg     8th April 2019 Iron-ore’s poised to hit $100/t, according to Citigroup, which highlighted “very, very low” seaborne cargoes just as data from China may show a pick-up in demand. That view follows advice from Goldman Sachs Group that investors should be closing bullish bets after recent gains. “Iron-ore is not... 

As Goldman backs off, Citi says chase iron-ore rally to $100/t

Riversdale seeking alternative for Hancock offer

By: Esmarie Iannucci     8th April 2019 Takeover target Riversdale Resources is actively seeking alternate offers after an independent expert concluded that an offer from Australian iron-ore producer Hancock Prospecting is neither fair nor reasonable. Hancock in March announced a A$2.20-a-share all-cash offer for the unlisted... 

Lynas seeks clarity on PM comments

By: Esmarie Iannucci     8th April 2019 ASX-listed Lynas on Monday said that it would seek clarification from the Malaysian government over comments made by Prime Minister Mahathir Bin Mohamad over the company’s continuation of operations. Mohamad over the weekend noted that the Malaysian government had imposed an ‘extra condition’ on... 

Perseus secures funding for Yaouré

By: Esmarie Iannucci     8th April 2019 Gold miner Perseus Mining has finalised the financing plan for its Yaouré gold mine, in Cote d’Ivoire, after accepting a committed letter of offer from three international banks providing $150-million in corporate debt facilities. The consortium of banks, consisting of Macquarie Bank, South... 

EPA clears Beyondie for development

By: Esmarie Iannucci     8th April 2019 The Western Australian Environmental Protection Authority (EPA) has granted environmental approval for the development of the Beyondie sulphate of potash (SOP) project. Kalium Lakes MD Brett Hazelden said on Monday that achieving EPA approval for the Beyondie project was another first for the... 

Blackham and Salt Lake team up at Lake Way

By: Esmarie Iannucci     8th April 2019 ASX-listed Blackham Resources and fellow-listed Salt Lake Potash have executed a binding split commodity and access agreement on the Lake Way project, in Western Australia. Salt Lake holds some 290 km2 of tenure on the Lake Way region, while Blackham owns the Matilda-Wiluna gold project, at the... 

Syama delivers golden quarter for Resolute

By: Esmarie Iannucci     8th April 2019 Gold miner Resolute Mining has reported a 24 414 oz production increase during the March quarter, compared with the previous quarter, as the Syama operation, in Mali, saw production increase by more than 50%. Resolute has reported 98 105 oz of production for the three months to March, with the... 

Universal considering offer from Afrimat 

By: Esmarie Iannucci     8th April 2019 South Africa focused coal miner Universal Coal has received a conditional, non-binding indicative counter offer from JSE-listed Afrimat to rival a previous offer from a consortium headed by Ata Resources. Universal on Monday reported that Afrimat was proposing to acquire all the shares in the... 

Universal considering offer from Afrimat
Universal Coal operates the Kangala mine.

Chinese investment in Australia cools

By: Esmarie Iannucci     8th April 2019 New figures from advisory firm KPMG has found that Chinese investment into Australia had declined by 36.3% in 2018, to A$8.2-billion, with mining investment decreasing over 90% compared with 2017 figures. KPMG reported that the mining sector accounted for 5.6% of the total Chinese investment... 

BHP Americas boss says miners must make copper greener

By: Reuters     8th April 2019 Copper producers must collectively raise their game to improve the metal's ethical and green credentials as ageing mines require more water and energy to produce the same amount of metal, one of BHP's most senior executives said on Friday. Many in the industry have emphasised the importance of... 

A million tons of copper is on the way, but it may not be enough 

By: Bloomberg     8th April 2019 Giant mines currently under construction will churn out an additional one-million tons of copper through 2023, but that won’t be enough to fully close an expected gap between supply and demand in the next few years. Industry analysts and executives descending on Santiago this week for the Cesco... 

A million tons of copper is on the way, but it may not be enough

BHP mulling job cuts and drive-in, drive-out in the Pilbara

By: Esmarie Iannucci     8th April 2019 Mining major BHP is reportedly looking to cut up to 700 jobs across Australia, with up to 200 job cuts expected from the Perth office, as the company works to simplify its business and streamline its processes. “BHP is working to simplify its business and in its support functions we aim to... 

BHP mulling job cuts and drive-in, drive-out in the Pilbara

Kirkland reports production records at Fosterville and Macassa

By: Creamer Media Reporter      5th April 2019 Triple-listed Kirkland Lake Gold boosted its first-quarter production by 57% year-on-year to 231 879 oz, standing the company in good stead to meet its full-year guidance of 920 000 oz to one-million ounces of gold. The production increase was driven by continued record output at the Fosterville... 

Kirkland reports production records at Fosterville and Macassa
The Fosterville mine.

Woodside strikes HoA with ENN

By: Esmarie Iannucci     5th April 2019 Australian oil and gas producer Woodside has signed a heads of agreement (HoA) with China’s ENN Group for the supply of one-million tonnes of liquefied natural gas, for a period of ten years, starting in 2025. CEO Peter Coleman on Friday said that the HoA built on a 2018 cooperation agreement,... 

Woodside strikes HoA with ENN

First Graphene sets sights on $3.5m raising

By: Esmarie Iannucci     5th April 2019 ASX-listed First Graphene will place some 23.3-million shares, at a price of 15c each, to raise A$3.5-million. The company told shareholders that the placement to institutional and sophisticated investors would be conducted under its existing placement capacity, and will not require shareholder... 

Aus junior Celamin regains its share of Tunisia project

By: Esmarie Iannucci     5th April 2019 The share price of junior explorer Celamin Holdings rose on Friday, after the Tunisian Court of Appeal returned the company’s 51% stake in the Chaketma phosphate project. Celamin has battled its joint venture partner Tunisian Mining Services (TMS) since 2015, after its interest in the project... 

Maximus urges rejection of Kesli motion; sells Burbanks for A$5.8m

By: Esmarie Iannucci     5th April 2019 Junior gold company Maximus Resources has urged shareholders to vote against a motion by shareholder Kesli Chemicals to remove three of the company’s directors. Kesli, which owns more than a 5% interest in Maximus, in March issued the gold miner with a notice demanding a general meeting to... 

Perseus still riding the wave of increased production

By: Esmarie Iannucci     5th April 2019 Gold miner Perseus Mining has flagged a 5% increase in gold production during the March quarter, compared with the previous corresponding period. The ASX- and TSX-listed miner on Friday told shareholders that during the three months to March, 67 144 oz of gold was produced, including 44 680 oz... 

Antipa raises A$5m for exploration

By: Esmarie Iannucci     5th April 2019 ASX-listed Antipa Minerals will raise A$5.1-million through a share placement to institutional and sophisticated investors to fund its exploration programme for 2019. The company on Friday said that it would issue some 268.8-million shares, priced at 1.9c each, representing a discount of 20.8%... 

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