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Australasia News

Automakers ramping up investments into upstream nickel, cobalt

By: Darren Parker     6th July 2022 Market research firm Fitch Solutions Country Risk and Industry Research (Fitch Solutions) says automakers are increasing their upstream investments and supply contracts to secure enough battery metals, such as lithium, cobalt and battery-grade nickel, to drive forward their respective electric... 

Iron-ore hits 2022 low

By: Reuters     6th July 2022 Iron-ore slumped on Wednesday to its lowest level this year in Singapore as China faces fresh Covid-19 flare-ups in several areas including Shanghai, stoking concerns over further lockdowns in the world's biggest steel producer. Growing prospects of a global recession also weighed on most... 

Iron-ore hits 2022 low

Gandel starts compulsory acquisition of Alliance shares

By: Esmarie Iannucci     6th July 2022 ASX-listed Gandel Metals has started with the compulsory acquisition of the remaining shares in fellow-listed Alliance Resources, after gaining a 94.34% interest in the takeover target at the end of the takeover offer period, which closed on July 4. Gandel earlier this year launched an 18c a... 

Copper crash deepens as recession fears dominate metals trading

By: Bloomberg     6th July 2022 Copper extended a sharp retreat after the economic bellwether suffered one of its worst days since the depths of the pandemic in 2020 on growing fears of a global recession. Investors are fretting over a range of threats to demand, from Europe’s gas crisis to a US slowdown and renewed virus... 

Copper crash deepens as recession fears dominate metals trading

Gruyere on target - Gold Road

By: Esmarie Iannucci     6th July 2022 Gold miner Gold Road Resources on Wednesday noted preliminary production results from the Gruyere joint venture (JV) in Western Australia, found that some 85 676 oz of gold was produced in the June quarter, compared with the 71 135 oz produced in the March quarter. Some 2.4-million tonnes of ore... 

Judge allows Sandfire’s Black Butte development to continue

By: Mariaan Webb     6th July 2022 Copper miner Sandfire Resources’ US subsidiary has welcomed the District Court’s decision to allow it to continue with its development of the Black Butte copper project, in Montana. The court on Tuesday issued an order on remedies that would allow Phase 1 construction of Black Butte to be... 

Black Dragon starts WA gold hunt

By: Esmarie Iannucci     6th July 2022 Junior Black Dragon Gold Corp has started its hunt for gold in Western Australia with the acquisition of the Padbury and Ivan Well gold projects. The ASX-listed company on Wednesday announced the acquisition of privately-held Marlee Gold, saying it was a key part of its strategic growth plan to... 

Mayur signs magnetite offtake for Orokolo Bay

By: Esmarie Iannucci     6th July 2022 ASX-listed Mayur Resources has inked a binding offtake agreement for magnetite product from its Orokolo Bay iron and industrial sands project, in Papua New Guinea. The offtake agreement covers some 300 000 t/y of magnetite product over a three-year period, with an option to extend another year,... 

Wiluna changes leadership

By: Esmarie Iannucci     6th July 2022 Gold miner Wiluna Mining has announced the immediate resignation of executive chairperson Milan Jerkovic, and the appointment of Rowan Johnston as interim non-executive chairperson. Michael Monaghan has been appointed as acting CEO, with Robert Ryan appointed as acting COO. 

Tomingley hits targets in 2022

By: Esmarie Iannucci     6th July 2022 The Tomingley gold operation, in New South Wales, has exceeded production expectations for the 2022 financial year, ASX-listed Alkane Resources reported on Wednesday. Gold production at Tomingley reached 66 804 oz during the full year ending June, which was above the guidance of between 55 000... 

Galileo raises A$20.4m for exploration

By: Esmarie Iannucci     6th July 2022 Junior Galileo Mining will raise A$20.4-million in a share placement to sophisticated and institutional investors to fund exploration work at its Callisto palladium/nickel discovery, in Western Australia. Some 170-million shares will be placed, at a price of A$1.20 a share under Galileo’s... 

Image shows currency

Appea pledges help to extend ADGSM

By: Esmarie Iannucci     6th July 2022 The Australian Petroleum Production & Exploration Association (Appea) this week said that the oil and gas industry would work with the federal government on consultation to extend the Australian Domestic Gas Security Mechanism (ADGSM) until 2030. Minister for Resources and Northern Australia... 

Metals extend losses as global recession fears damp outlook

By: Bloomberg     5th July 2022 Copper fell to the lowest level in 17 months, with metals extending losses as global recession fears continue to damp the demand outlook for commodities. Sentiment remains sour for the industrial materials used in everything from construction to new energy vehicles. Copper, widely considered an... 

Exciting listing on JSE’s AltX poised to give investors pure copper play  

By: Martin Creamer     5th July 2022 The reverse listing of Big Tree Copper into SHiP Copper Company on the AltX of the Johannesburg Stock Exchange in October is expected to raise between R60-million to R250-million for the ramping up of combined production to 10 000 t of copper a year in the next three years. SHiP, run by Shirley... 

Picrture supplied.
Big Tree Copper CEO Jan Nelson interviewed by Mining Weekly's Martin Creamer.

Resolute rejoices as Mali sanctions are lifted

By: Esmarie Iannucci     5th July 2022 Gold miner Resolute Mining has welcomed the decision by the Economic Community of West African States (Ecowas) to lift sanctions against Mali, where it operates the Syama gold mine. Sanctions were imposed on Mali in January this year after the military government said it would not organise... 

FFI looks at hydrogen in Djibouti

By: Esmarie Iannucci     5th July 2022 The green energy arm of Fortescue Metals, Fortescue Future Industries (FFI) is looking at hydrogen options in Djibouti. FFI is partnering with the government of the Republic of Djibouti to conduct studies with a view to developing green hydrogen production in the region, and has signed a... 

Regis marks record quarter and full year

By: Esmarie Iannucci     5th July 2022 Gold miner Regis Resources has reported record production in the June quarter, as well as the 2022 financial year. Gold production in the June quarter reached 123 901 oz, with the Duketon operation contributing 92 800 oz and the Tropicana mine contributing 31 100 oz. The June quarter production... 

Westgold hits production target

By: Esmarie Iannucci     5th July 2022 ASX-listed Westgold Resources has hit its production target for the 2022 financial year, producing 270 878 oz of gold, setting a new production record. For the fourth quarter ending June, the company produced 72 591 oz of gold, with the Cue gold operation, in Western Australia, producing a... 

Firefinch sells stake in Leo Lithium

By: Esmarie Iannucci     5th July 2022 Gold miner Firefinch has sold 28.6-million of its shares in lithium spin-off Leo Lithium at a price of 45.5c each, garnering revenues of A$12.9-million. Leo Lithium started share trading in June following a successful initial public offering (IPO) in May, during which Leo raised A$100-million... 

Stavely raises cash for Victorian exploration

By: Esmarie Iannucci     5th July 2022 Junior Stavely Minerals will raise A$4-million in a share placement to fund exploration and resource definition drilling at its copper/gold project in Western Victoria. The ASX-listed company on Tuesday reported that it would place some 26.7-million shares, at a price of 15c each under its... 

Whitehaven facing legal challenges over Narrabri expansion

By: Esmarie Iannucci     5th July 2022 Coal miner Whitehaven Coal is facing a legal challenge to the State Significant Development Consent for the Narrabri Stage 3 extension project, in New South Wales, which was granted by the state’s Independent Planning Commission (IPC) in April this year. The proposed extension would extend the... 

GGG secures arbitration funding

By: Esmarie Iannucci     5th July 2022 ASX-listed Greenland Minerals (GGG) has secured litigation funding from Woolridge Investments, a wholly-owned subsidiary of Burford Capital, to fully fund the arbitration costs in the dispute with the government of Greenland and the government of the Kingdom of Denmark. GGG earlier this year... 

Kingston launches review of Misima

By: Esmarie Iannucci     5th July 2022 ASX-listed Kingston Resources has launched a strategic review of its Misima gold project assessing options to maximise shareholder value. Kingston said on Tuesday that the strategic review would be conducted in parallel with ongoing mining license and environmental and social impact assessment... 

Industry taxes reach record heights - report

By: Esmarie Iannucci     5th July 2022 Company tax and royalty payments from the Australian resources sectors reached a record A$43.2-billion in the 2020-21 financial year, up 16% on the previous financial year. A report released by advisory firm Ernst & Young, commissioned by the Minerals Council of Australia, revealed that company... 

Genesis confirms bid for Dacian Gold

By: Esmarie Iannucci     5th July 2022 ASX-listed Genesis Minerals on Tuesday confirmed its growth aspirations in Western Australia, unveiling a recommended takeover offer of gold miner Dacian Gold. Both Genesis and Dacian went into a trading halt at the start of the week, as reports emerged that Genesis had made a takeover offer... 

Image shows the Mount Morgans operation

Plans under way to extend the ADGSM

By: Esmarie Iannucci     5th July 2022 The federal government is looking to extend the Australian Domestic Gas Security Mechanism (ADGSM) until 2030 to ensure the mechanism is available to help secure ongoing domestic gas supplies in the next decade. Minister for Resources and Northern Australia Madeleine King said the existing ADGSM... 

Alara forms JV to bid for Saudi zinc-copper exploration licence

By: Darren Parker     4th July 2022 ASX-listed metals explorer and developer Alara Resources is hopeful that it will return to Saudi Arabia, announcing on Monday that it had formed a joint venture (JV) to bid for the award of a 353 km2 exploration licence that includes the company’s former Khnaiguiyah zinc-copper project. Alara... 

EcoGraf appoints new COO

By: Darren Parker     4th July 2022 Battery anode materials company EcoGraf has appointed experienced executive Dale Harris as COO to drive the development of its integrated battery graphite businesses. Harris spent 20 years working for diversified mining major Rio Tinto, becoming Rio Tinto Iron Ore COO and filling several GM... 

Calidus progresses Warrawoona ramp-up

By: Darren Parker     4th July 2022 ASX-listed Calidus Resources poured 8 916 oz of gold in the June quarter during the commissioning and ramp up of the Warrawoona gold project in the Pilbara Goldfield of Western Australia, with an additional 1 192 oz of gold in circuit. The quarter saw the first gold poured in May following the... 

Gold pour

Highfield signs €23m term sheet for equipment leasing

By: Darren Parker     4th July 2022 ASX-listed Highfield Resources has signed a €23.3-million non-binding indicative term sheet with financial services group Macquarie for an equipment operating lease facility for the Muga potash mine in Spain, subject to contract and Macquarie completing its final due diligence and all requisite... 

Coda sells Mt Piper to Kalamazoo

By: Darren Parker     4th July 2022 ASX-listed Coda Minerals has agreed to divest its Mt Piper gold project in central Victoria, to fellow-listed Kalamazoo Resources for a consideration package comprising a combination of upfront cash, shares and a future production royalty. Mt Piper was inherited by Coda as part of its recently... 

NeuRizer signs A$1.5bn urea offtake agreement with Daelim

By: Darren Parker     4th July 2022 ASX-listed NeuRizer has signed a binding, long term take or pay offtake agreement with petrochemicals company Daelim subsidiary DL Trading for 500 000 t/y of granular urea fertiliser at an index-linked price. The company said the agreement brought its flagship NeuRizer urea project (NRUP) closer... 

3D rendering of the NeuRizer urea project
3D rendering of the NeuRizer urea project

New Anglo strategy director excited by mining’s green energy transition 

By: Martin Creamer     4th July 2022 The newly appointed group director of strategy and business development of diversified mining company Anglo American on Monday singled out mining’s green energy transition in commenting on the excitement of her new appointment. Helena Nonka, who is currently executive VP of corporate development... 

Picture supplied.
New Anglo American group director of strategy and business development Helena Nonka.

Copper sinks to 17-month low as slowdown fears mount

By: Reuters     4th July 2022 Copper prices dropped to a fresh 17-month low on Monday as renewed lockdowns in top consumer China and the prospects of aggressive rate hikes stoked fears of global economic slowdown, denting demand for metals. Three-month copper on the London Metal Exchange was down 1.4% at $7 938/t, as of... 

Gold teeters above $1 800 as lower yields counter dollar strength

By: Reuters     4th July 2022 Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1 800 mark and marginally outweighed pressure stemming from an elevated US dollar. Spot gold was up 0.1% at $1 811.76/oz, as of 05:44 GMT. US gold futures rose 0.7% to $1 813.70. Bullion prices... 

Firefinch outlines plan for underperforming Morila 

By: Mariaan Webb     4th July 2022 Australia-based Firefinch on Monday outlined a ‘forward plan’ for the Morila gold mine, in Mali, after the company withdrew its full-year guidance, owing to a slower-than-planned ramp up that resulted in the full-year guidance being withdrawn. Morila, which the miner bought from Barrick and... 

Firefinch outlines plan for underperforming Morila 

Miners take a stand against Qld govt

By: Esmarie Iannucci     4th July 2022 Industry bodies the Queensland Resources Council (QRC), its exploration arm, the Queensland Exploration Council (QEC) and the Association of Mining and Exploration Companies (AMEC) will not attend the Queensland government’s launch of the Queensland Resources Industry Development Plan (QRIDP), in... 

Genesis planning a big sweep in Leonora

By: Esmarie Iannucci     4th July 2022 Merger talks are afoot in the Leonora Province in Western Australia, with gold miner St Barbara on Monday confirming that it had resumed talks with fellow-listed Genesis Minerals. Talks between St Barbara and Genesis fizzled out last month, with Genesis saying that it had abandoned talks with St... 

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