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Australasia News

Navarra readies to raise A$8m

By: Esmarie Iannucci     14th July 2020 Gold explorer Navarra Minerals has received binding commitments to raise A$8-million through the placemat of 64-million shares. The shares will be issued at a price of 12.5c each to institutional and sophisticated investors as a single tranche under the company’s existing placement capacity. 

Senex developments add to reserves

By: Esmarie Iannucci     14th July 2020 ASX-listed Senex Energy has reported a 21% increase in the Surat Basin 2P gas reserves, which is now estimated at 739 PJ, following the successful delivery of the company’s natural gas developments in the region. “The 2020 financial year was a year focused on successful execution of our... 

Gateway raises Gidgee funding

By: Esmarie Iannucci     14th July 2020 Junior Gateway Mining will raise A$7-million through a share placement to institutional and professional investors to fund exploration work at its Gidgee gold project, in Western Australia. The placement comprised the issue of 437.5-million shares, at a price of 1.6c each, with the company’s... 

Appea members call for green tape reform

By: Esmarie Iannucci     14th July 2020 The Australian oil and gas industry has called for a green tape reform to support investment confidence and to rebuild the Australian economy post Covid-19. A survey of more than 100 of the Australian Petroleum Production and Exploration Association’s (Appea’s) members had shown that nearly... 

Santos investigates hydrogen in the Cooper basin

By: Esmarie Iannucci     14th July 2020 Oil and gas major has started a concept study on a hydrogen future for the Cooper Basin., and has appointed professional services firm GHD to conduct the study. “The Cooper Basin hydrogen concept study builds on our progress towards the 1.7-million tonne Cooper Basin carbon capture and storage... 

Santos investigates hydrogen in the Cooper basin

Core joins European alliance

By: Esmarie Iannucci     14th July 2020 ASX-listed Core Lithium has been accepted as a member of the European Battery Alliance (EBA250), providing a pathway for the company to grow its presence in the European market. The EBA250 brings together more than 440 players from the European Commission (EU), interested in EU countries,... 

Covid opens up opportunity for more constructive, purposeful dialogue – Minsur  

By: Martin Creamer     13th July 2020 The Covid-19 pandemic has allowed the mining industry to highlight and strengthen its role as a catalyst of social development in the areas in which it operates, Minsur  CEO Juan Luis Krueger said on Monday. Krueger was speaking during an  International Council on Mining and Metals (ICMM) online... 

Juan Luis Krueger
International Council on Mining and Metals virtual Covid event covered by Mining Weekly’s Martin Creamer. Video: Darlene Creamer.

Drilling results confirm high-grade intersections at Pensana's Angola project

By: Simone Liedtke     13th July 2020 Dual-listed Pensana Rare Earths has completed a further 34 holes of its 8 000 m drill programme at the Longonjo project, in Angola, the results of which confirm particularly high-grade intersections from surface in the area of proposed first mining.   The programme is in support of the bankable... 

Orion firms up ownership over Jacomynspan prospect

By: Marleny Arnoldi     13th July 2020 ASX-listed Orion Minerals has entered into an agreement to acquire the remaining minority vendor interest in the Jacomynspan project. The project is located 65 km north of the company’s flagship Prieska copper/zinc project, on 6h4 Namaqua and Disawell mining and prospecting rights.  

Weekly Coal Index Report

13th July 2020 Almost all coal exporters are now looking to cut production quite significantly. Prevailing weak export markets, combined with fixed price take-or-pay rail and port contracts, are combining to ensure losses for almost every tonne mined now. Higher quality producers can retain a competitive edge... 

Weekly Coal Index Report

Incident halts Carosue Dam - Saracen

By: Esmarie Iannucci     13th July 2020 Gold miner Saracen Mineral Holdings has suspended operations at its Carosue Dam operations, in Western Australia, following a ‘serious incident’ at the Dervish mine. The ASX-listed miner reported that an underground worker had fallen from a height. 

OceanaGold still fighting for Didipio

By: Esmarie Iannucci     13th July 2020 Dual listed gold miner OceanaGold on Monday said that it had not received any formal order from the Philippines Court of Appeal regarding its plea to allow for the interim operation of the Didipio mine, while it challenges the legality of a stop order. The company in July applied for an... 

OceanaGold still fighting for Didipio

Alto raises funds for WA drilling

By: Esmarie Iannucci     13th July 2020 Junior Alto Metals has announced plans to raise A$5.1-million to fund drilling at the Sandstone gold project, in Western Australia. The company on Monday said that the one-for-four accelerated pro-rata non-renounceable entitlement offer will be priced at 7c a share, representing a 6.67^... 

$550m deal signed at Northparkes

By: Esmarie Iannucci     13th July 2020 The owners of the Northparkes gold/copper mine, in New South Wales, has inked a $550-milion streaming agreement with Triple Flag Mining Finance Bermuda, a subsidiary of Triple Flag Precious Metals Corp. Under the terms of the agreement, Triple Flag Bermuda would make an up-front cash payment of... 

Galaxy extends offtake contract

By: Esmarie Iannucci     13th July 2020 Lithium miner Galaxy Resources has extended its existing offtake agreement with Yahua International Investment and Development Co by a further three years until the end of 2025. Yahua has an offtake for 120 000 t/y of high quality spodumene concentrate from Galaxy’s Mt Cattlin operation, in... 

Oil Search warns of impairments

By: Esmarie Iannucci     13th July 2020 ASX-listed Oil Search has warned of a non-cash impairment charge of between $360-million to $400-million for its interim results in 2020. The company on Monday told shareholders that the impairment charge took into account the prevailing economic conditions, the outlook for oil and gas prices... 

More Victorian gas exploration targeted

By: Esmarie Iannucci     13th July 2020 The Victorian government has awarded two new gas exploration permits off the state’s south-west coast, allowing Beach Energy and Bridgeport Energy to explore for gas. Minister for Resources Jaclyn Symes on Monday said that if initial exploration is successful, up to A$85-million could flow into... 

Platinum gets new lease in WA

By: Esmarie Iannucci     13th July 2020 Research done at Curtin University has developed a new method to extract platinum metal from ore, delivering an economically viable processing method for the Panton Sill platinum group metal (PGM) deposit, in Western Australia. The state government through the Minerals Research Institute of... 

Platinum gets new lease in WA

Investors in mining exploration should be incentivised – ANC’s ETC 

By: Martin Creamer     13th July 2020 Listings of mining companies on the Johannesburg Stock Exchange should be encouraged and South African retail investors willing to invest in mining exploration should be incentivised as is the case in other mining jurisdictions, the economic transformation committee (ETC) of the African National... 

ANC document says mining exploration should be incentivised.
Photo by Creamer Media
ANC document says mining exploration should be incentivised.

SSR Mining and Alacer shareholders approve combination

By: Mariaan Webb     13th July 2020 The shareholders of precious metals miners SSR Mining and Alacer Gold have approved their at-market merger, with only court approval still required for the transaction to close. On closing, each of Alacer’s shares will be exchanged for 0.3246 of an SSR common share. The transaction was approved... 

Chinese gold demand to remain strong regardless of pace of economic recovery, says the WGC

By: Marleny Arnoldi     10th July 2020 Gold has received more investment than all other major Chinese asset classes in the first half of this year, says the World Gold Council (WGC). In a WGC blog post, research manager Ray Jia says gold demand in China, particularly investment demand, has benefited from rising concerns about the... 

IEA warns oil demand recovery at risk from virus resurgence

By: Bloomberg     10th July 2020 The International Energy Agency bolstered its outlook for global oil demand, but warned that the recovery could be derailed by the resurgence of coronavirus. A collapse in fuel consumption during the second quarter was slightly less severe than previously estimated, and demand should rebound... 

Hydrogen targeted in the NT

By: Esmarie Iannucci     10th July 2020 The Northern Australian government on Friday unveiled its first ever Renewable Hydrogen Strategy to exploit the global demand for clean energy. The strategy outlines a five point hydrogen plan under which the industry and government would work together to prepare industry capabilities and... 

WA flagged as Australia battery destination

By: Esmarie Iannucci     10th July 2020 Western Australia has been tipped as the prime location for a battery cathode active material (CAM) manufacturing destination, according to a new report. The report, commissioned by the Department of Industry, Innovation and Science, pointed out that Australia currently produced nine of the ten... 

WA flagged as Australia battery destination

Copper is surging, but it doesn’t mean economy is booming

By: Bloomberg     10th July 2020 Copper prices are surging, and for once it’s not because the economy is booming. The metal – known colloquially as Dr. Copper because its performance is often used to gauge the health of the overall economy – has surged by a staggering 45% since mid-March. That’s despite the International... 

BFS affirms 'compelling' opportunity at Crown Mountain

By: Esmarie Iannucci     10th July 2020 A bankable feasibility study (BFS) into the Crown Mountain coking coal project, in British Columbia, has found that the project could produce an average of 1.7-million tonnes a year of saleable coal and 57.5-million tonnes a year run-of-mine coal over a mine life of 15 years. ASX-listed Jameson... 

The Crown Mountain project, in the Elk Valley coal field in south eastern British Columbia.
The Crown Mountain project, in the Elk Valley coal field in south eastern British Columbia.

Chesser raises cash for Senegal project

By: Esmarie Iannucci     10th July 2020 Gold explorer Chesser Resources will raise A$6-million to fund large-scale drilling at the Diamba Sud gold discovery, in Senegal. The company has received firm commitments from institutional and sophisticated investors for the placement of 75-million shares, at a price of 8c each. 

New copper record for Red River

By: Esmarie Iannucci     10th July 2020 Base metals miner Red River Resources has reported record copper production for the three months to June at its Thalanga operation, in Queensland, while zinc and lead production remained consistent with the previous quarter. Copper concentrate production in the fourth quarter reached 2 697 t,... 

Red Metal readies for exploration drive

By: Esmarie Iannucci     10th July 2020 Explorer Red Metal will raise A$3-million through a share placement to fund drilling at its projects across Australia. The company on Friday said it had received firm commitments for the placement of more than 33.33-million shares, at a price of 9c each, from institutional and professional... 

Thiess wins A$2.5bn contract extension

By: Esmarie Iannucci     10th July 2020 ASX-listed project house CIMIC Group has been awarded a five-year contract extension to continue providing mining services at the Lake Vermont coal mine, in Queensland. The contract extension, with Jellinbah Group, is expected to generate revenues of some A$2.5-billion for Thiess, CIMIC said on... 

Record-high gold prices are in sight 

By: Bloomberg     9th July 2020 Gold prices could be set to take out their long-standing record as mounting concerns about the global economy fuel gains above $1 800/oz. Spot bullion extended its advance into a sixth day as the resurgence of the coronavirus in some parts of the world adds to concerns about a protracted global... 

$83bn Australian pension fund to divest from thermal coal

By: Bloomberg     9th July 2020 Australia’s second-largest pension fund aims to almost halve carbon emissions across its investments within a decade as it joins global peers in mitigating the risks of climate change. First State Super said it will advocate for Australia’s economy to reduce its greenhouse gas emissions by 45%... 

Kvanefjeld by-products profitable - Greenland Minerals

By: Esmarie Iannucci     9th July 2020 By-products from the Kvanefjeld rare earths project, in Greenland, could contribute as much as $60-million in revenue annually, ASX-listed Greenland Minerals said. The company on Thursday pointed out that the Kvanefjeld deposit contained a large low-grade uranium resource, which could produce... 

IGO signs up for A$30m exploration deal

By: Esmarie Iannucci     9th July 2020 ASX-listed Antipa Minerals has inked a A$30-million farm-in agreement with metals miner Independence Group over the Paterson project, in Western Australia. Under the farm-in agreement, Independence could earn a 70% interest in a joint venture (JV). 

DevEx raises exploration funds

By: Esmarie Iannucci     9th July 2020 ASX-listed DevEx Resources has raised A$5.5-million to fast track exploration work in Western Australia and New South Wales. The company will place an initial 47.5-million shares, at a price of 10c each, to raise an initial A$4.7-million, under its existing placement capacity. A second tranche... 

Freeport is selling more copper than it thought in pandemic

By: Bloomberg     9th July 2020 The world’s biggest publicly traded copper company is navigating the pandemic better than it thought. Freeport-McMoRan expects to report about 8% more copper sales volume and 10% more gold in the second quarter than it forecast in April when it was first coming to grips with the implications of... 

Freeport is selling more copper than it thought in pandemic

South Africa’s July Ndlovu to chair World Coal Association 

By: Martin Creamer     9th July 2020 South Africa’s July Ndlovu has been appointed the chairperson of the World Coal Association (WCA), Mining Weekly can today report. Ndlovu, who heads Anglo American’s coal business in South Africa, takes up the position at a time when, in his words, “the role of responsible coal is front and... 

July Ndlovu and Michelle Manook.
Photo by World Coal Association
July Ndlovu and Michelle Manook.

Maintenance costs cut at Kayelekera

By: Esmarie Iannucci     9th July 2020 ASX-listed Lotus Resources has reduced the care-and-maintenance cost at its recently acquired Kayelekera uranium project, in Malawi, by some 75%, as the company advances certain restart activities. Lotus on Thursday told shareholders that care and maintenance costs for the mine have been reduced... 

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