R/€ = 17.00 Change: -0.03
R/$ = 16.59 Change: -0.06
Au 1763.90 $/oz Change: -41.31
Pt 856.50 $/oz Change: -20.40

Australasia News

Iron-ore extends gains above $140 on optimism for China demand

By: Reuters     6th June 2022 Iron-ore topped up its biggest weekly gain in 13 weeks as traders tracked China’s moves to rein in Covid-19 restrictions that have weighed on steel demand this quarter. Futures in Singapore crept higher on Monday morning after surging more than 7% last week on optimism over China’s plans to get... 

Renergen nears financing close for Virginia gas’ Phase 2  

By: Marleny Arnoldi     6th June 2022 JSE-listed emerging helium and natural gas producer Renergen has signed a retainer letter with the US International Development Finance Corporation (DFC) for a possible $500-million loan to finance the Phase 2 development of the company’s Virginia gas project, in the Free State province of South... 

Rusal files suit against Rio Tinto over alumina refinery

By: Reuters     6th June 2022 Russian aluminium producer Rusal has filed a lawsuit against global miner Rio Tinto, seeking to win back access to its 20% share of the alumina produced at a jointly owned refiner in Queensland. The lawsuit challenges Australia's response to Russia's invasion of Ukraine, which included... 

Rusal files suit against Rio Tinto over alumina refinery

Closely watched exploration well off Western Australia finds no gas, oil

By: Reuters     6th June 2022 Western Gas said on Monday its Sasanof-1 exploration well off Western Australia found no hydrocarbons, in a big disappointment for one of the most closely watched drilling campaigns in Australia this year. Ahead of drilling, the Sasanof prospect had been estimated by independent firm ERC... 

Circular economy prompting steel, oil, carbon recovery from end-of-life mine truck tyres  

By: Martin Creamer     6th June 2022 Highest and best use of ultra-large end-of-life mine truck tyres is being brought about by a change to the model in which resources are mined, made into products, and then become waste. Just one of these giant tyres can weigh 4.5 t and stand 14 feet tall. Put five of the 63-inch variety into a... 

Picture supplied.
Kal Tire’s Dan Allan speaks to Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Kapore raises funds for Niger uranium hunt

By: Esmarie Iannucci     3rd June 2022 Junior Kapore Metals will raise A$3-million to fund exploration and development of its Agadez uranium project, in Niger. The ASX-listed company on Friday announced that it had received firm commitments for the placement of 90.9-million shares, priced at 3.3c a share. More than 83.5-million of the... 

Anglo American appoints new head in Australia

By: Esmarie Iannucci     3rd June 2022 Diversified miner Anglo American this week announced the appointment of Daniel van der Westhuizen as CEO of its Australian division. Van der Westhuizen will lead Anglo American’s steelmaking coal business based in Brisbane. 

Focus gets approval for Greenfields mining

By: Esmarie Iannucci     3rd June 2022 The Western Australian Department of Mines, Industry Regulation and Safety has approved ASX-listed Focus Minerals’ mining proposal for its Greenfields openpit operation. Focus said on Friday that the approved mining proposal allows the company to start mining from the Greenfields openpit, and to... 

Meteoric strikes A$30m deal over Brazilian gold project

By: Esmarie Iannucci     3rd June 2022 ASX-listed Meteoric Resources has struck a A$30-million agreement to divest of its Juruena gold project, in Brazil. The company has signed a termsheet with Keystone Resources, which is a wholly-owned subsidiary of Alchemist Investments Inc. 

Image shows Australian currency

Gold Road offer gains ground at DGO

By: Esmarie Iannucci     3rd June 2022 Gold miner Gold Road Resources has secured a majority interest in takeover target DGO Gold, after raising its offer earlier this week. Gold Road this week increased its takeover offer for fellow listed DGO from 2.16 Gold Road shares to 2.25 Gold Road shares for every DGO share held, and has... 

Kal East proves positive for Black Cat

By: Esmarie Iannucci     3rd June 2022 A preliminary feasibility study (PFS) into the Kal East gold project, in Western Australia, has confirmed a robust base-case production plan. ASX-listed Black Cat Syndicate on Friday reported that some 278 000 oz of gold could be recovered over a five-and-a-half year period, based on an annual... 

Rio unveils future plans for pink diamonds

By: Esmarie Iannucci     3rd June 2022 Diversified major Rio Tinto as unveiled a new strategy for the future development of its Argyle Pink Diamonds brand, following the 2020 closure of the Argyle mine, in Western Australia. The company this week launched the new Icon Partner program, as part of its strategy to ensure it remains the... 

An image pink Argyl diamonds

BBM on track for Sept production

By: Esmarie Iannucci     3rd June 2022 Coal developer Cokal is on track to produce its first saleable coal from its Bumi Barito Mineral (BBM) mine, in Indonesia, in September this year. The company is planning to start mining at BBM at the end of July. 

Jewellers' gold sourcing more challenging in times of war

By: Reuters     2nd June 2022 With Russian gold and diamonds off-limits due to the war in Ukraine, makers of luxury jewellery and watches are finding it more difficult to secure raw materials and address human rights issues in supply chains. Russia is the world's biggest producer of natural diamonds, according to the World... 

Junior explorer scores big in Namibian gold belt where mining majors failed  

By: Martin Creamer     2nd June 2022 If you want to raise real risk capital for exploration, you need Canadian-style investors to provide it, the 2022 Junior Indaba heard on Thursday. While it was acknowledged that South Africa has the money, it was also reiterated that the country is just not channeling it into exploration, where... 

Osino Resources CEO Heye Daun
Junior Indaba covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Marquee and MinRes joint force for a lithium hunt

By: Esmarie Iannucci     2nd June 2022 ASX-listed Marquee Resources and fellow listed Mineral Resources (MinRes) will join forces to explore and develop lithium deposits at the West Spargoville project, in Western Australia. Under the terms of the agreement, MinRes would have the right to acquire an initial 25% interest in the lithium... 

Woodside starts trading on NYSE

By: Esmarie Iannucci     2nd June 2022 Oil and gas major Woodside will start trading on the NYSE, under the ticker WDS, on Thursday. The New York listing followed Woodside completing the merger with diversified miner BHP’s petroleum business, creating a top 10 global independent energy company by hydrocarbon production and the... 

Origin facing coal shortages for power stations

By: Esmarie Iannucci     2nd June 2022 Stuttering coal supplies could spell trouble for ASX-listed Origin Energy’s Eraring power station in the 2023 financial year. The company told shareholders this week that ongoing challenges with coal supply have been impacting Eraring power station throughout 2022, however, the situation has... 

New Century adds to Mt Lyell reserve

By: Esmarie Iannucci     2nd June 2022 Restart work at the Mt Lyell copper project, in Tasmania, has resulted in a 130% increase in the ore reserves. ASX-listed New Century Resources on Thursday told shareholders that the project’s initial ore reserve had been estimated at 23.9-million tonnes, at 1.14% copper equivalent, for some 246... 

DRA ordered to pay costs

By: Esmarie Iannucci     2nd June 2022 ASX and JSE-listed project management and operations group DRA Global and some of its directors have been ordered to pay a combined A$76 299.90 plus tax by the Australian Takeovers Panel. The Takeovers Panel last month declared unacceptable circumstances around the actions of certain DRA... 

West Wits take a bigger stake in WBP

By: Esmarie Iannucci     2nd June 2022 ASX-listed West Wits Mining has struck a deal with its black economic empowerment (BEE) partner to increase its shareholding in the Witwatersrand Basin project (WBP), in South Africa, from 66.6% to 74%. West Wits will acquire Lilitha Resources’ interest in the project for A$50 000 in cash and... 

BHP's neighbours to benefit from wind fences

By: Esmarie Iannucci     2nd June 2022 Mining major BHP has awarded contracts for Australia’s first wind fences, designed to reduce dust emissions as part of BHP’s A$300-million air quality commitment. The fences will be built in Port Hedland by CIMIC Group’s CPB Contractors under a A$130-million contract. 

Image shows an iron-ore stockpile at a BHP operation

Queensland Pacific inks offtake deal

By: Esmarie Iannucci     2nd June 2022 ASX-listed Queensland Pacific Metals (QPM) has entered into a binding ore supply agreement with New Caledonia-based Société des Mines de la Tontouta (SMT) for the supply of up to 600 000 t/y of ore. The agreement would span a ten-year period, and will be targeting a typical limonite ore... 

Automated shiploaders on the way at BHP

By: Esmarie Iannucci     2nd June 2022 Diversified miner BHP has started testing two new automated shiploaders at its Port Hedland export facility in the Pilbara. In what is a world first, 3D laser scan technology has been used in the A$50-million project, which will fully automate eight shiploaders by 2023, and is aimed at... 

Far-reaching JSE reforms highlighted at exploration-focused Junior Indaba 

By: Martin Creamer     1st June 2022 The June 1 launch of the JSE’s new Cutting Red Tape initiative to make listing on the JSE considerably easier, faster and more sustainable is twinning with JSE’s recent private placements inventiveness that provides for the raising of capital in the private market for minerals exploration and the... 

Picture supplied by JSE.
JSE head of origination and deals Sam Mokorosi.

Day of Women in Mining set for June 15 to showcase inclusivity

By: Donna Slater     1st June 2022 Not-for-profit women in mining empowerment organisation International Women in Mining (IWiM) has launched International Day of Women in Mining on June 15 to acknowledge and celebrate past, present and future women in mining. The International Day of Women in Mining is intended to raise awareness... 

Global copper supply to outpace demand next year, says RBC

By: Reuters     1st June 2022 Global copper supply will outpace demand over the next two years, helped by several upcoming large mine projects, RBC Capital Markets analysts said on Wednesday. The brokerage in a note said it expects the industrial metal's price to be at $4.32 per pound in 2022, and then drop to $3.75 in 2023... 

An image of copper cathodes

Pilbara and Calix firm up partnership, as new lead is announced at Pilbara

By: Esmarie Iannucci     1st June 2022 Lithium developer Pilbara Minerals has inked a binding memorandum of understanding (MoU) with fellow-listed Calix supporting the development of a Mid-Stream lithium chemicals opportunity at Pilbara’s Pilgangoora operation, in Western Australia. The MoU followed the award of a A$20-million grant... 

Australian Rare Earth raises funds

By: Esmarie Iannucci     1st June 2022 ASX-listed Australian Rare Earths will raise A$8.1-million in a share placement to domestic and global institutional investors. The company on Wednesday announced that it had received firm commitments for the placement of 18.5-million shares, priced at 44c each, representing a 6% discount to its... 

Newfield resumes mining at Sierra Leone diamond mine

By: Esmarie Iannucci     1st June 2022 ASX-listed Newfield Resources has resumed mining at its Tongo diamond mine, in Sierra Leone, following a fatality in May. The company in May reported a fall of ground incident in an underground development heading at Tongo, with Newfield suspending all mining operations at the mine allowing for... 

Challenger reports maiden 2.1Moz resource in Argentina

By: Esmarie Iannucci     1st June 2022 Junior Challenger Exploration has reported a 2.1-million ounce resource at its flagship Hualilan old project, in Argentina. The mineral resource estimate was based on 125 700 m of drilling from a 204 000 m diamond core drill programme, and Challenger told shareholders on Wednesday that the... 

Navarre sets A$9.4m raising target

By: Esmarie Iannucci     1st June 2022 ASX-listed Navarre Minerals would raise as much as A$9.4-million in a share placement and share purchase plan (SPP) to accelerate exploration at its Mt Carlton gold project, which it acquired from gold miner Evolution Mining last year. Navarre on Wednesday reported that it would place some... 

Nordic Nickel starts trading on the ASX

By: Esmarie Iannucci     1st June 2022 Newly minted Nordic Nickel has started share trading on the ASX, following a A$12-million initial public offering (IPO). The company issued some 115.2-million shares during its IPO, at a price of 25c each. 

Santos signs gas deal in WA

By: Esmarie Iannucci     1st June 2022 Oil and gas major Santos has struck a new gas supply agreement with Western Australia’s Yara Pilbara Fertilisers to supply natural gas to its liquid ammonia plant on the Burrup Peninsula, in Western Australia. Santos will supply over 120 petajoules of natural gas over five years, starting at... 

Blaze at Peru's Las Bambas copper mine as tension rises

By: Reuters     1st June 2022 A fire broke out on Tuesday in Peru's massive Las Bambas copper mine, a source told Reuters, amid clashes between police and an indigenous community that has occupied space there for more than a month. MMG's mine, which accounts for about 2% of global supply, had to suspend operations last month... 

Miners welcome new Ministerial appointments

By: Esmarie Iannucci     1st June 2022 The resources sector has welcomed the appointment of Australia’s first female federal Resources Minister. Newly elected Prime Minster Anthony Albanese has tapped Madeleine King as the Minister for Resources and Northern Australia, replacing Keith Pitt. 

Honeymoon development approved

By: Esmarie Iannucci     1st June 2022 The board of ASX- and OTCQX-listed Boss Energy has pulled the trigger on the A$113-million capital spend required for the development of the Honeymoon uranium project, in South Australia. The decision meant that Boss will now accelerate construction, ensuring Honeymoon remains on track for first... 

South32 completes Mozal buy  

By: Esmarie Iannucci     1st June 2022 Diversified miner South32 has completed the acquisition of an additional 16.6% shareholding and related rights in Mozal Aluminium from Mitsubishi’s MCA Metal for a final cash consideration of some $200-million. 

South32 completes Mozal buy
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