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Australasia News

Tritton beats full-year guidance

By: Esmarie Iannucci     2nd July 2020 The Tritton copper project, in New South Wales, has beaten production expectations for the 2020 financial year, ASX-listed Aeris Resources said on Thursday. The company noted that production for the full year reached 25 041 t, which was some 2% above the guidance of between 23 500 t and 24 500... 

More offtake secured at Coburn

By: Esmarie Iannucci     2nd July 2020 Mineral sands developer Strandline Resources has secured a binding offtake agreement for the zircon product from its Coburn project, in Western Australia. The company on Thursday said that the offtake agreement with Chilches Materials covers some 7 000 t/y of premium zircon product for the first... 

Mount Mackenzie optimised - REZ

By: Esmarie Iannucci     2nd July 2020 Pit optimisation and higher gold prices have improved the economics of the Mount Mackenzie gold and silver project, in Queensland. ASX-listed Resources and Energy reported this week that on the back of an updated mineral resource estimate, and accounting for a higher gold price, the optimisation... 

Petroleum exploration approved in S Australia

By: Esmarie Iannucci     2nd July 2020 The South Australian government this week announced the successful bids for five new petroleum exploration licenses. The five licenses have a guaranteed work programme valued at a combined A$58.85-million over the next five years, Energy and Mining Minister Dan von Holst Pellekaan said. 

Equatorial supports Salt Lake raising

By: Esmarie Iannucci     2nd July 2020 Potash developer Salt Lake Potash will raise A$15-million through the placement of unsecured zero-coupon convertible notes to fund the continued development of its Lake Way project, in Western Australia. The ASX-listed miner on Thursday said that it had received firm commitments from corporate... 

MACA wins Atlas contract

By: Esmarie Iannucci     2nd July 2020 Contract miner MACA has been awarded a mining contract at Atlas Iron’s Corunna Downs mine, in the Pilbara. The mining services contract will consist of openpit mining services, including drilling and blasting, and loading and hauling, and would generate revenues of A$230-million over the... 

Rio adds to board

By: Esmarie Iannucci     2nd July 2020 Diversified major Rio Tinto has added a strategy and development role to its executive committee, with Peter Toth appointed as a group executive. The new role will be focused on leading Rio’s transformation efforts around portfolio, climate change, and closure, working in partnership with the... 

Metals X looking for copper buyer

By: Esmarie Iannucci     2nd July 2020 ASX-listed Metals X has announced plans to divest of its entire copper asset portfolio, including the Nifty and Maroochydore copper projects, and the Paterson exploration project. Metals X on Thursday said that issues with shareholder APAC Resources Strategic Holdings, which demanded the removal... 

Metals X looking for copper buyer

Commodity freighters are shrugging off Covid-19. For now

By: Bloomberg     1st July 2020 The cost of moving commodities like coal and iron-ore across the world’s oceans is surging as China lifts cargo purchases. Whether the rally will withstand the economic aftershocks of the coronavirus is a thornier question. Rates for giant capesize ships climbed to almost $31 000 a day on... 

BHP scales back Cerro Colorado copper mine

By: Mariaan Webb     1st July 2020 Global miner BHP is scaling back its operations at Cerro Colorado, in Chile, with resizing measures to be implemented over the next four months. These measures will result in a reduced headcount and the company has started discussions with employees and contractors. The adjusted mine plan will... 

Cerro Colorado
Photo by Flicker/Gabri Solera
Cerro Colorado

ELB’s delisting-linked offers send up share price

By: Martin Creamer     1st July 2020 The board of directors of ELB on Wednesday made delisting-linked offer to its shareholders, which saw its share price rise. By late afternoon, the JSE-listed company’s price had risen by 54.17% to R1.85 a share. The capital equipment and engineering solutions group proposed a transaction to... 

Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.
Photo by Creamer Media
Gamsberg zinc mine project in the Northern Cape, where ELB Engineering Services was active.

Hydrogen to fuel giant mining trucks in green shift by Anglo 

By: Bloomberg     1st July 2020 Anglo American is advancing plans to convert its fleet of giant diesel-fueled mine trucks to hydrogen power as the company seeks to burnish its green credentials. More than 400 mine-haul trucks could be rebuilt to use hydrogen fuel, with a pilot project starting next year at Anglo American... 

Bullion platinum investment at an all-time high, says WPIC

By: Marleny Arnoldi     1st July 2020 The World Platinum Investment Council (WPIC) reports that sales of platinum bullion products – retail bars and coins – surged to record highs in the first quarter of the year, with purchases totalling 312 000 oz. Annualised, this represents a rate that is five times higher than that experienced... 

After taking out $1 800, gold investors focus on Fed’s next step

By: Bloomberg     1st July 2020 Fresh from cracking $1 800/pz, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due later on Wednesday that may shed light on the central bank’s willingness to embrace yield curve control. Futures held near the highest in more than... 

After taking out $1 800, gold investors focus on Fed’s next step

A miner blew up ancient human history. Now an industry may pay

By: Bloomberg     1st July 2020 Scraping away delicately at the reddish-brown earth of northwestern Australia’s vast Pilbara region, a team of archaeologists uncovered a record of life dating back more 40 000 years. Buried in natural shelters at the base of a cliff were thousands of stone and wooden tools, the sharpened fibula... 

Rio Tinto CEO Jean-Sebastien Jacques.
Rio Tinto CEO Jean-Sebastien Jacques.

Aeris completes Cracow buy

By: Esmarie Iannucci     1st July 2020 ASX-listed Aeris Resources has completed the acquisition of the Cracow gold mine, in Queensland, from gold miner Evolution Mining. The two companies in June struck a A$125-million agreement for Aeris to acquire the gold mine, with the consideration consisting of a A$60-million cash payment on... 

Mardie DFS proves positve for BCI

By: Esmarie Iannucci     1st July 2020 A definitive feasibility study (DFS) on the Mardie salt and potash project, in Western Australia, has confirmed that the project could become a globally significant Tier 1 project. The DFS, released by owner BCI Minerals on Wednesday, noted that the project could produce 4.4-million tonnes a... 

Qld manslaughter legislation takes effect

By: Esmarie Iannucci     1st July 2020 New laws will come into effect in Queensland on Wednesday, with executives facing up to 20 years’ jail if the state’s resources sector workers die because of their criminal negligence, Mines Minister Dr Anthony Lynham said. He noted that the new legislation would better protecting the state’s 66... 

Partial restart planned at Browns Range

By: Esmarie Iannucci     1st July 2020 Rare earths producer Northern Minerals on Wednesday announced that it would partially restart operations at its Browns Range pilot plant, in Western Australia, while also restarting exploration activities across its tenements. The company in March this year temporarily suspended operations at... 

Prairie armed for legal battle

By: Esmarie Iannucci     1st July 2020 Coal developer Prairie Mining has secured A$18-million in litigation funding with LCM Funding UK to pursue damages claims in a dispute with the Polish government. Prairie in February last year served a notice of dispute on the Polish government, requesting that the government formally engage... 

Oil Search cuts jobs and costs

By: Esmarie Iannucci     1st July 2020 ASX-listed Oil Search on Wednesday announced structural changes in the wake of Covid-19 and the falling oil prices, which will result in a 34% decline in staff numbers. The company told shareholders that full time employees will be reduced from 1 649 as of March, to 1 222, with a further 137... 

Ramelius sets new production record

By: Esmarie Iannucci     1st July 2020 Gold miner Ramelius Resources has produced a record 86 517 oz of gold in the June quarter, beating its guidance of 80 000 oz. The miner on Wednesday reported that the Mt Magnet operation produced 61 161 oz of gold during the quarter, while the Edna May operation contributed a further 25 356 oz. 

Australia beat Kyoto targets - Minister

By: Esmarie Iannucci     1st July 2020 Australia’s Energy and Emissions Reduction Minister Angus Taylor was optimistic that the country had beaten its 2020 emissions reduction target. The Minister on Wednesday said that while figures were yet to be finalised, Australia is estimated to have beaten its Kyoto-era target by up to... 

BMA expands autonomous hauling fleet in Queensland

By: Esmarie Iannucci     1st July 2020 Major BHP and its coal alliance partner Mitsubishi (BMA) have announced a A$100-million investment into 34 new autonomous trucks at the Daunia mine, in Central Queensland. BMA asset president James Palmer said this is a multi-generational investment in the industry and state at a time when it is... 

BMA expands autonomous hauling fleet in Queensland

Platinum group metals in pole position to benefit from global decarbonisation thrust  

By: Martin Creamer     1st July 2020 Platinum group metals are in pole position to benefit from the fast-growing global decarbonisation momentum, Mining Weekly can today report. A multiplicity of global announcements are emerging daily that inextricably link platinum-catalysed hydrogen fuel cells as well as platinum-catalysed... 

Fuel Cells and Hydrogen Joint Undertaking   transforming aviation into a zero-carbon transport that uses hydrogen.
AP Ventures founding partner Kevin Eggers interviewed by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

New Kirkland Lake guidance not too dissimilar from pre-Covid guidance

By: Mariaan Webb     30th June 2020 Gold miner Kirkland Lake Gold has re-issued its guidance for 2020, after it withdrew its initial 1.47-million-to-1.54-million guidance in April, owing to the impact of measures that it introduced to protect its workers, their families and the communities during the Covid-19 pandemic. The new... 

New Kirkland Lake guidance not too dissimilar from pre-Covid guidance

Gold climbs above $1 800 for the first time since 2011

By: Bloomberg     30th June 2020 Gold futures rose above $1 800/oz for the first time in eight years as low interest rates and a resurgence in coronavirus cases drive demand for the metal as a haven. The metal is heading for its best quarter since early 2016, benefiting from economic stimulus from the Federal Reserve and other... 

Gold climbs above $1 800 for the first time since 2011

Whitebark raises cash for Wizard Lake

By: Esmarie Iannucci     30th June 2020 Oil and gas junior Whitebark Energy will raise up to A$3-million in a partially underwritten entitlement offer to fund maintenance and workovers cost at the Wizard Lake project, in Canada, as well as the acquisition of land mineral leases and for working capital. The ASX-listed company will... 

Fingerboards gets a A$144m push

By: Esmarie Iannucci     30th June 2020 Investment adviser Appian Capital Advisory has announced a A$144-million investment into the Fingerboards mineral sands project, in Victoria. Unlisted Kalbar Operations is hoping to extract some 170-million tonnes of ore, containing 8-million tonnes of heavy mineral concentrate over a mine life... 

Kogi adopts phased approach to funding, work on Agbaja project

By: Marleny Arnoldi     30th June 2020 ASX-listed Kogi Iron has announced that it will adopt a staged funding and development programme to ensure the development of its Agbaja cast steel project, in Nigeria, continues to progress. The company also revised down its initial envisaged production rate during Phase 1 of the project to... 

Iron ore
Iron ore

Environmental groups propose tailings dam safety standards

By: Reuters     30th June 2020 Mining companies should be required to buy private insurance for tailings dams and their board of directors should be held legally responsible for any disasters, a coalition of 140 environmental groups said in a report published on Tuesday. The recommendations, which differ from standards to be... 

Mining lease granted for Butcherbird

By: Esmarie Iannucci     30th June 2020 ASX-listed Element 25 has been awarded a mining lease for its Butcherbird manganese project, in Western Australia, by the Department of Mines, Industry Regulation and Safety. “The grant of a mining lease at Butcherbird is a pivotal step in the development of this world class project and puts... 

GR Engineering wins more work from Saracen

By: Esmarie Iannucci     30th June 2020 ASX-listed GR Engineering has been awarded a A$29-million additional work contract by fellow-listed Saracen Mineral Holdings. The new projects awarded include an engineering, procurement and construction (EPC) contract for the Thunderbox paste plant project, priced at A$22-million, and an... 

First concentrate produced from Liontown

By: Esmarie Iannucci     30th June 2020 Junior Red River Resources has produced its first gold concentrate from its Liontown project at the Thalanga mill, in Queensland. Some 600 t of concentrate, containing some 1 300 oz of gold, was produced, with final reconciled assays pending. 

Davyhurst restart tipped for year-end

By: Esmarie Iannucci     30th June 2020 The Davyhurst gold project, in Western Australia, could restart operations as soon as the fourth quarter of this year, ASX-listed Ora Banda Mining said on Tuesday, with first gold pour targeted for the first quarter of 2021. A newly completed definitive feasibility study (DFS) has estimated that... 

Ramelius adds ounces to life-of-mine plan

By: Esmarie Iannucci     30th June 2020 A new life-of-mine plan for gold miner Ramelius Resources has confirmed the company’s ability to produce more than 1.4-million ouces of gold, at an average all-in sustaining cost of between A$1 250/oz and A$1 350/oz, over a six-year mine life. “Building on last year’s landmark result of over... 

Langer Heinrich restart gets priced

By: Esmarie Iannucci     30th June 2020 The Langer Heinrich uranium project, in Namibia, can be brought back online at a capital cost of $81-million, a mine restart plan has found. ASX-listed Paladin Energy on Tuesday noted that a $34-million investment would be required to mobilise the workforce, undertake maintenance and provide... 

Langer Heinrich restart gets priced

Copper heads for best quarter since 2010 as supply worries mount

By: Bloomberg     29th June 2020 Copper is poised for its best quarter since 2010, helped by optimism over a stronger-than-expected demand rebound in top consumer China and mounting supply concerns in South America. The metal used in everything from automobiles to electronics has surged 21% this quarter, and climbed above $6... 

Copper heads for best quarter since 2010 as supply worries mount

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