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Australasia News

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... 

Riley gets port access

By: Esmarie Iannucci     9th July 2020 Junior Venture Minerals has inked a port access agreement for its Riley iron-ore mine, in in Tasmania, with TasPorts. Venture on Thursday said that the agreement fully secured the pathway for production from the mine gate to shipping, and effectively meant that mining could immediately start,... 

Borborema economics improves - Big River

By: Esmarie Iannucci     9th July 2020 A review into the definitive feasibility study (DFS) for the Borborema gold project, in Brazil, has reduced the project’s expected costs from the original $99.3-million to $90.7-million. ASX-listed Big River Gold on Thursday noted that the review had resulted in changes to the process design,... 

Bellevue holds A$120m capital raise to fund gold project

By: Esmarie Iannucci     9th July 2020 Gold developer Bellevue Gold has launched a fully underwritten placement to raise A$100-million to accelerate project development at its namesake project in Western Australia. A share purchase plan (SPP) will also be launched with the aim of raising a further A$20-million.  

Rio Tinto closes NZ aluminium smelters

By: Esmarie Iannucci     9th July 2020 Major Rio Tinto on Thursday announced that it would wind down operations and eventually close the New Zealand aluminium smelters (NZAS), following the conclusion of a strategic review. The company in October last year announced a review into the future of the smelter, to determine the... 

Rio Tinto closes NZ aluminium smelters

Gold’s rally to $1 800 sees ETF inflows exceed full-year record 

By: Bloomberg     8th July 2020 Gold’s allure is only getting stronger as 2020 unfolds. Spot prices reached $1 800/OZ and year-to-date inflows into bullion-backed exchange-traded funds have topped the record full-year total set in 2009. Investors have favored havens this year as the coronavirus pandemic rips through economies,... 

GoviEx to appeal termination of Chirundu mining licence

By: Tasneem Bulbulia     8th July 2020 Dual-listed GoviEx Uranium has received a letter from the Mining Cadastre Department of Zambia notifying the company that it had terminated the Chirundu mining licence.  Under the Zambian Mines and Minerals Development Act of 2015, GoviEx has been given 30 days to appeal this decision, which the... 

Getting it right: Kogi Iron

By: Creamer Media Reporter      8th July 2020 Mining Weekly incorrectly reported on July 7 that ASX-listed Kogi Iron had received a large investment from European funds management company Torridon Investments Research to develop its Agbaja cast steel project, in Nigeria. However, Torridon, which is a European funds manager with billions of... 

Kirkland Lake reports increased gold output

By: Esmarie Iannucci     8th July 2020 Triple listed Kirkland Lake Gold has reported a 54% increase in gold production for the second quarter of 2020, compared with the previous corresponding period. The ASX, TSX, and NYSE-listed company on Wednesday announced that gold production in the three months to June had reached 329 770 oz,... 

The Detour Lake mine.
The Detour Lake mine.

Matador raises funds for Canadian exploration

By: Esmarie Iannucci     8th July 2020 Gold explorer Matador Mining has completed an A$8.7-million capital raise to fund exploration at the Cape Ray gold project, in Newfoundland. The company placed 21.4-million shares, at a price of 40.5c each, under its existing placement capacity.  

New Hope makes more job cuts

By: Esmarie Iannucci     8th July 2020 Coal miner New Hope has flagged a next round of redundancies as the stasis around the approval of its New Acland Stage 3 operation, in Queensland, continues. The miner on Wednesday announced that 14% of its corporate staff have been made redundant while 15% of the workforce at its port facility,... 

Northern Star sails past Covid issues

By: Esmarie Iannucci     8th July 2020 Despite the impacts of the Covid-19 pandemic, gold miner Northern Star has reported that its cash, bullion and investments increased by 40% at the end of June, compared with the previous quarter. Cash, bullion and investments increased to A$769.5-million, up from the A$551.4-million at the end... 

Saracen beats records in full year

By: Esmarie Iannucci     8th July 2020 ASX-listed gold miner Saracen Mineral Holdings has beaten its full year production expectations for the year ended June, announcing record production and cash flows. Saracen announced that full year production reached 520 414 oz, which was above the guidance of 500 000 oz previously set, with... 

Nova beats production guidance

By: Esmarie Iannucci     8th July 2020 The Nova base metals project, in Western Australia has beaten its full year production guidance, owner Independence Group said on Wednesday. During the full year ended June, the mine produced 30 436 t of contained nickel, 13 772 to of contained copper and 1 142 t of contained cobalt, which was... 

Era sees production fall in June quarter

By: Esmarie Iannucci     8th July 2020 Uranium miner Energy Resources of Australia (Era) has reported a 10% decline in uranium oxide production from its Ranger mine, in the Northern Territory, for the quarter ended June. Era on Wednesday reported that 377 t of uranium oxide was produced in the June quarter, down 10% on the previous... 

Galena raises cash for Abra

By: Esmarie Iannucci     8th July 2020 Junior Galena Mining has raised A$12-million through a share placement to fund exploration work at the Abra base metals project, in Western Australia. Galena has received binding commitments for the placement of 57.15-million new shares, at an issue price of 21c each, with the company’s largest... 

Australia rolls out exploration portal

By: Esmarie Iannucci     8th July 2020 The federal government has launched an online data portal provides free access to around 250 datasets collected as part of its A$225-million Exploring for the Future program. Minister for Resources, Water and Northern Australia, Keith Pitt said that the portal would help the resources sector in... 

Australia rolls out exploration portal

Bardoc raises funds to fast-track gold project

By: Esmarie Iannucci     8th July 2020 ASX-listed Bardoc Gold is looking to raise A$24-million through a share placement to fund a definitive feasibility study on its Bardoc gold project, Western Australia, and to complete front-end engineering and design (FEED) work while also securing long-lead items ahead of a final investment... 

Gold-backed ETFs record seventh consecutive month of positive flows, says WGC 

By: Simone Liedtke     7th July 2020 Gold-backed exchange-traded funds (ETFs) recorded their seventh consecutive month of positive flows, adding 104 t in June (equivalent to $5.6-billion or 2.7% of assets under management (AUM)) and taking global holdings to new all-time highs of over 3 621 t. This brings the total global net... 

Coal production to top 8bn tonnes in 2020, says GlobalData

By: Simone Liedtke     7th July 2020 Despite disruptions during the first quarter, global coal production is expected to reach more than 8.1-billion tonnes this year, says data and analytics company GlobalData. A 7.8% fall in production in the US will be a major factor in the overall limited output, the company says, noting that... 

Coal production to top 8bn tonnes in 2020, says GlobalData

Second iteration of Aameg Africa Awards to be hosted in November

By: Simone Liedtke     7th July 2020 The Australia-Africa Minerals and Energy Group’s (Aameg’s) premier event for recognising best practice in mineral exploration across the African continent will be having its second iteration on November 4 as part of the Africa Down Under (ADU) conference in Perth, Australia. The event was founded... 

Mahalo petroleum leases awarded - Comet Ridge

By: Esmarie Iannucci     7th July 2020 The Queensland government has granted ASX-listed Comet Ridge two petroleum leases at its Mahalo gas project. Comet Ridge on Tuesday said that the petroleum lease awards were the final regulatory approval required for the project to move towards production, following the Commonwealth Environment... 

HGM shifts focus to CSG

By: Esmarie Iannucci     7th July 2020 ASX-listed gold and cobalt explorer High Grade Metals (HGM) has announced a move into the coal seam gas (CSG) sector. HGM on Tuesday announced that it had inked a binding agreement to acquire unlisted Jade Gas, which holds a 60% interest in a joint venture (JV) vehicle with Mongolian state-owned... 

South African govt initiates process of developing societal hydrogen roadmap  

By: Martin Creamer     7th July 2020 South Africa’s Department of Science and Innovation (DSI) has initiated a process, with other government and industry stakeholders, to develop a roadmap that will lead South Africa towards a hydrogen society, Mining Weekly can today report. The aim is to create a policy document that will inform... 

South African government initiates development of societal hydrogen roadmap
South African government initiates development of societal hydrogen roadmap

EVs are starting to buoy the global metals market

By: Bloomberg     7th July 2020 The market gloom over the metals that will power the cars of the future is starting to lift. Supply overhangs and then the coronavirus pandemic had crushed short-term prospects for the minerals used to make rechargeable batteries. But new government commitments to green transport in China and... 

Tomingley meets targets

By: Esmarie Iannucci     7th July 2020 The Tomingley gold project, in New South Wales, has met its production guidance for 2020, with owner Alkane Resources on Tuesday reporting that the project had produced 33 507 oz of gold during the full year ended June. This was in line with the target of between 30 000 oz and 35 000 oz. 

Ora Banda completes bookbuild for Davyhurst restart

By: Esmarie Iannucci     7th July 2020 ASX-listed Ora Banda Mining has completed the bookbuild for its share placement and institutional entitlement offer, to raise A$51.7-million, with a fully underwritten retail entitlement offer set to raise a further A$3.3-million, and to open on July 10. The company has received firm commitments... 

Sal de Vida still set for 2022 start

By: Esmarie Iannucci     7th July 2020 Lithium miner Galaxy Resources on Tuesday said that it was still on target for Stage 1 ore production at the Sal de Vida project, in Argentina, in 2022, despite the Covid-19 pandemic impacting the development schedule of the project. Galaxy in April this year suspended operations at Sal de Vida... 

Sal de Vida still set for 2022 start

Image sells 100 000 t of HMC

By: Esmarie Iannucci     7th July 2020 Junior Image Resources has inked an offtake agreement for 100 000 t of heavy mineral concentrate from its current inventory at the Boonanarring mineral sands project, in Western Australia. The ASX-listed company told shareholders that the agreement with offtake partner Shantou Natford Zirconium... 

Zenith sets sights on A$5m raise

By: Esmarie Iannucci     7th July 2020 ASX-listed Zenith Minerals will raise A$5-million in an oversubscribed share placement to institutional and sophisticated investors, to accelerate exploration at its core gold projects. The junior company on Tuesday noted that 51-million new shares would be issued at a price of 10c each,... 

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