R/€ = 18.1260 Change: -0.0063
R/$ = 17.1717 Change: -0.0059
Au 1789.20 $/oz Change: -0.36
Pt 1010.00 $/oz Change: 0.54

Australasia News

Mining restarts at Karlawinda, Mt Gibson resources rise

By: Esmarie Iannucci     7th November 2022 Mining operations at the Karlawinda gold mine, in Western Australia, have resumed following contractor fatality in mid-October. ASX-listed Capricorn Metals on Monday said it will continue to work with contractor MACA and the Department of Mines, Industry Regulation and Safety in relation to... 

Gold Fields says it won’t amend Yamana offer

By: Mariaan Webb     7th November 2022 South Africa-based Gold Fields said on Monday that it would not amend its offer for Canadian miner Yamana Gold, stating that its board continued to believe its offer was superior to that of Pan American Silver and Agnico Eagle Mines. The board had taken into account its commitment to capital... 

Gold Fields CEO Chris Griffith
Gold Fields CEO Chris Griffith

Cobalt Blue readies to raise cash

By: Esmarie Iannucci     7th November 2022 Cobalt developer Cobalt Blue on Monday announced plans to raise up to A$16-million in a share placement and non-renounceable entitlement offer to advance work on its Broken Hill project, in New South Wales. The ASX-listed company has completed a private placement of some 6.9-million new shares,... 

Arafura inks offtake with Hyundai

By: Esmarie Iannucci     7th November 2022 ASX-listed Arafura Rare Earths has struck a neodymium-praseodymium (NdPr) offtake agreement with South Korea’s Hyundai Motor Company and Kia Corporation. The offtake agreement for the Nolans NdPr would cover an initial seven-year term, and could be extended by a further five years, by mutual... 

Coronado prices fall as Peabody talks end

By: Esmarie Iannucci     7th November 2022 The share price of coal miner Coronado Global Resources tumbled on Monday on news that the company had discontinued discussions with energy major Peabody Energy Corporation. Coronado last month confirmed merger talks with the US major, but said at the time that no agreement had been reached. 

Tinkler takes a stake in Jameson

By: Esmarie Iannucci     7th November 2022 Junior Jameson Resources has welcomed a A$10-million investment by mining personality Nathan Tinkler through his Oceltip Coal companies. The placement will consist of more than 86.6-million shares, which will be placed in two tranches of 43.3-millione ach, with the first tranche issued on... 

Inflation denies AngloGold spectacular showing that higher grade normally assures 

By: Martin Creamer     4th November 2022 Higher grade ore mined by AngloGold Ashanti in the third quarter should have meant more gold at unchanged cost – more bang for the same buck, as it were. But the current abnormally high level of inflation knocked back the potential benefits of 17% higher underground grades and 21% higher opencast... 

AngloGold Ashanti CEO Alberto Calderon.
AngloGold Ashanti CEO Alberto Calderon.

MC Mining completes A$40m rights offer

By: Donna Slater     4th November 2022 Aim-, ASX- and JSE-listed coal explorer, developer and miner MC Mining has successfully concluded a fully underwritten renounceable rights offer, raising its targeted A$40-million through the issue of more than 200-million new ordinary shares. MC Mining CEO and MD Godfrey Gomwe says the... 

Peabody approves $140m redevelopment capital for Australia coal mine

By: Mariaan Webb     4th November 2022 US-based coal miner Peabody Energy has begun initial steps to redevelop its North Goonyella mine – a hard-coking coal longwall operation in Australia with more than 70-million tons of reserves. The company on Thursday announced an initial $140-million of redevelopment capital budget for further... 

Instead of phasing down coal the world is burning more than ever

By: Bloomberg     4th November 2022 Last November in Glasgow, the world’s climate leaders were locked in a fierce debate over whether the final draft of the summit’s agreement should include a pledge to “phase-out” or “phase-down” coal. Since then, the more appropriate term would probably be “phase-up". 

An image of the Mafube coal mine in South Africa
The Mafube coal mine in South Africa

Zenith advances Mackerel demerger

By: Esmarie Iannucci     4th November 2022 Battery minerals explorer Zenith Minerals has advanced plans to demerge its gold and base metals assets into a separately listed ASX-listed company called Mackerel Metals, lodging a prospectus for Mackerel this week. Zenith earlier this year flagged the possibility of spinning-out its... 

Image shows the ASX building

Lithium Power International stands firm on Maricunga

By: Esmarie Iannucci     4th November 2022 ASX-listed Lithium Power International (LPI) on Friday reiterated its confidence in the Maricunga lithium brine project, in Chile. Responding to news reports in Chilean press regarding the exploitation of lithium in the Salar de Maricunga, LPI on Friday confirmed that the standing of its... 

TECH gets EPBC tick

By: Esmarie Iannucci     4th November 2022 The Department of Climate Change, Energy and the Environment and Water (DCCEW) has approved ASX-listed Queensland Pacific Metals’ plans to develop its Townsville Energy Chemicals Hub (TECH) base metals project. The approval, under the Environmental Protection and Biodiversity Conservation Act,... 

FFI partners with Enel on hydrogen

By: Esmarie Iannucci     4th November 2022 Green energy developer Fortescue Future Industries (FFI) and Enel’s global renewables arm Enel Green Power (EGP) will partner to explore co-development of the green hydrogen value chain with an initial focus on Latin America and Australia. The companies, also through this collaboration, aim to... 

Rio invests in cultural heritage protection

By: Esmarie Iannucci     4th November 2022 Major Rio Tinto has announced a A$5.6-million investment into cultural heritage protection in Western Australia. The miner will invest A$5.6-million over five years into the Pilbara Cultural Land Management Project (PCLMP) that enables Pilbara Traditional Owners to work together to preserve... 

Rum Jungle rehab progresses

By: Esmarie Iannucci     4th November 2022 Stage 3 of the Rum Jungle rehabilitation project has started after the federal government signed a funding agreement for the project. The Northern Territory government this week said that this funding was a significant milestone in the project, which seeks to improve the environmental condition... 

Barrick’s competitive gold, copper position being progressively boosted by exploration 

By: Martin Creamer     3rd November 2022 The competitive position of gold and copper mining company Barrick is being progressively boosted by exploration, which results in the company replacing extracted ore with similar quality. “We’re the only company that has replaced our ounces at the same quality through exploration – though the... 

Barrick Gold Corporation CEO Dr Mark Bristow.
Barrick Gold Corporation CEO Dr Mark Bristow.

Rio Tinto Exploration to start Mt Cecelia drilling as farm-in partner

By: Donna Slater     3rd November 2022 ASX-listed precious and base metals explorer, developer and producer West Wits Mining reports that farm-in joint venture partner Rio Tinto Exploration (RTX) has started a maiden drilling programme at its Mt Cecelia project, in the Paterson Province of Western Australia. The initial three-hole... 

BHP invests in Canadian copper explorer Brixton

By: Mariaan Webb     3rd November 2022 Canadian exploration junior Brixton Metals on Wednesday announced a nonbrokered private placement by diversified major BHP, with the goal of advancing the Thorn project, located in north-west British Columbia. “We are excited to welcome BHP, a leading global resource company, to the Brixton... 

BHP invests in Canadian copper explorer Brixton

AngloGold ups third-quarter production, cash flow as higher grades offset inflation

By: Martin Creamer     3rd November 2022 Gold-mining company AngloGold Ashanti reported strong year-on-year improvements in production, all-in sustaining costs and cash flow for the third quarter of 2022, as higher grades and efficiency gains helped offset the impacts of rising inflation. The Johannesburg- and New York-listed Anglogold... 

Gold refining under way.
Gold refining under way.

High commodity prices led to record tax - ATO

By: Esmarie Iannucci     3rd November 2022 Data released by the Australian Taxation Office (ATO) on Thursday showed that large corporations in Australia pad some $68-billion in income tax in 2020-21, the highest since reporting started. High commodity prices were the key drivers of the increase in corporate tax payments, the ATO said,... 

Migration needed to fill skills gap - Australia Minister

By: Esmarie Iannucci     3rd November 2022 Both skilled and unskilled migration into Australia would form a part in breaching the massive skills gap facing Australia, Resources Minister Madeleine King said on Thursday. Speaking on the sidelines of the the International Mining and Resources Conference (IMARC) in Sydney, King noted that... 

Alto raises funds for Sandstone growth

By: Esmarie Iannucci     3rd November 2022 Junior Alto Metals will raise A$4-million in a share placement and share purchase plan (SPP) to fund growth at its Sandstone gold project, in Western Australia. The ASX-listed company has received firm commitments for a share placement, priced at 6.5c each, raising A$3-million. The company’s... 

Industrial action starts at BHP coal mines

By: Esmarie Iannucci     3rd November 2022 Miners at diversified miner BHP’s Central Queensland coal mines are undertaking a protected industrial action, with bans on overtime and step-up duties in place until further notice. The Mining and Energy Union (MEU) on Thursday said that the industrial action would affect the Blackwater,... 

Rising costs flagged at Muga

By: Esmarie Iannucci     3rd November 2022 Capital costs for the Muga potash project, in Spain, has increased, ASX-listed Highfield Resources said on Thursday. The updated feasibility study estimated a capital cost of €436-million for the Phase 1 operation and €226-million for Phase 2. This was up from the previous estimate of... 

Corridor Sands proves up for MRG

By: Esmarie Iannucci     3rd November 2022 A scoping study and preliminary economic assessment (PEA) into the Corridor Sands project, in Mozambique, has estimated that the project would require a capital investment of $239-million. ASX-listed MRG Metals told shareholders that the project could produce some 262 000 t/y of... 

Maniry costs skyrocket

By: Esmarie Iannucci     3rd November 2022 A definitive feasibility study (DFS) for the Maniry graphite project, in Madagascar, has nearly doubled the expected capital costs for Stage 1 of the operation, compared with a 2021 scoping study. ASX-listed BlackEarth Minerals on Thursday reported a capital cost estimate of $79.2-million for... 

Minister puts LNG companies on blast

By: Esmarie Iannucci     3rd November 2022 Federal Minister for Industry and Science, Ed Husic, has lashed out at the oil and gas sector, saying the industry was not taking supply concerns and rising energy prices seriously. Speaking to the ABC RN Breakfast show earlier this week, Husic noted that while a heads of agreement (HoA) was... 

Image shows LNG shipping vessel

Woodside expects taxes to rise in 2022

By: Esmarie Iannucci     3rd November 2022 Energy major Woodside on Thursday revealed that it paid more than A$13-billion in Australian taxes and royalties since 2011. In 2021, the company paid A$658-million in taxes and royalties to the Australian Commonwealth and state governments, which included A$333-million in corporate income tax.  

BHP adds more renewables to its grid

By: Esmarie Iannucci     3rd November 2022 Diversified major BHP has signed a renewable power purchase agreement (PPA) with independent power producer Neoen, in South Australia. The PPA is expected to meet half of Olympic Dam’s electricity needs from 2026, based on current forecast demand, and allow Olympic Dam to record a net zero... 

Antofagasta’s Arriagada named new ICMM chair

By: Marleny Arnoldi     2nd November 2022 UK-headquartered leadership organisation the International Council on Mining and Metals (ICMM) has appointed Iván Arriagada chairperson, succeeding Richard Adkerson. Arriagada is also CEO of Chilean copper mining group Antofagasta.  

ICMM chairperson Iván Arriagada
ICMM chairperson Iván Arriagada

Northern Cape’s Tshipi manganese mine ‘up there with best of them’, says new Jupiter CEO  

By: Martin Creamer     2nd November 2022 The Northern Cape’s Tshipi Borwa manganese mine is “up there with the best of them”, says new Jupiter Mines CEO Brad Rogers, who has seen his fair share of mines around world as the former head of a company with more than 50 mining and industrial sites in Australia and Indonesia. Rogers has been... 

Jupiter Mines CEO Brad Rogers.
Jupiter CEO Brad Rogers interviewed by Mining Weekly's Martin Creamer. Video: Darlene Creamer.

Sinosteel says Australian govt scaring off Chinese money

By: Bloomberg     2nd November 2022 Sinosteel says deteriorating China-Australia relations and the Australian government’s approach to foreign ownership is frightening off Chinese investment in the country. “For Chinese investors, because the bilateral relationship in the past few years was not as good as before, there’s a big... 

An image of an iron ore mine

Hydrogen economy support highlighted in maiden Anglo Platinum climate report 

By: Martin Creamer     2nd November 2022 Active support for the creation of a viable green hydrogen economy in South Africa and globally, along with the firm underpinning of a ‘just energy transition’, are highlighted in Anglo American Platinum maiden climate change report. The report sets out the role the JSE-listed mining and... 

Anglo Platinum CEO Natascha Viljoen.
Anglo Platinum CEO Natascha Viljoen.

Sovereign finds offtake partner for Malawi rutile

By: Esmarie Iannucci     2nd November 2022 ASX-listed Sovereign Metals has started offtake talks with titanium dioxide pigment producer The Chemours Company over a potential 20 000 t/y of natural rutile from the Kasiya project, Malawi. The company has signed a non-binding memorandum of understanding (MoU) covering the Stage 1 operation... 

Australian minerals critical to net zero - King

By: Esmarie Iannucci     2nd November 2022 Australia’s critical mineral resource could be a lynchpin for global net zero ambitions. Federal Resources Minister Madeleine King said this week that in order to reach net zero emissions, the world would need to increase mining activities, not reduce it. 

BHP expects tight global markets to continue

By: Esmarie Iannucci     2nd November 2022 Diversified miner BHP expected the lag effect of inflationary pressures to remain a persistent challenge through the 2023 financial year. Speaking at the International Mining and Resources Conference (IMARC) in Sydney, BHP group procurement officer James Agar said that there was also no sign... 

BHP expects tight global markets to continue

Red 5's SPP exceeds expectations

By: Esmarie Iannucci     2nd November 2022 Gold miner Red 5’s share purchase plan (SPP), which was announced at the start of October as part of a larger capital raise, has exceeded expectations. The ASX-listed company on Tuesday said that it had received applications for more than 55.65-million shares under the SPP, for a gross... 

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