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Mining Bulletin

The full story: In-depth news and analysis

DRILLING POINTS TO MORE NEAR-TERM GROWTH AT SANTANA’S LEADING KIWI PROJECT

Explorer Santana Resources has highlighted significant near-term potential for further resource growth at its 100%-owned Bendigo-Ophir project in New Zealand’s South Island after drilling assays consistently surpassed past average grades at its Rise and Shine deposit.

GLENCORE’S $1.1B SALE OF COBAR MINE HERALDS NEW AUSTRALIAN BASE METALS EMPIRE

Global miner/marketer Glencore has reached binding agreement on the $US1.1B-plus-royalty sale of long-lived Cobar underground copper mine in Australia to special purpose funder Metals Acquisition Corporation.

NEWCREST SEES MORE DECADES AHEAD WITH GO-AHEAD FOR NEW CADIA STAGE DEVELOPMENT

Newcrest Mining has given the go-ahead for the next stage development of its flagship Cadia gold and copper mine in NSW, Australia after completing a feasibility study on its panel cave PC1-2 development.

GASCOYNE RESOURCES’ DALGARANGA A VICTIM OF THE PRESSURES ON WEST AUSTRALIAN MINES

Battling West Australian miner Gascoyne Resources will turn its focus to a financial restructuring and progressing higher-grade exploration assets to support a long-term mining plan after the sudden shutdown of its flagship Dalgaranga mine.

FIREFINCH ABOUT-TURN ON RECAPITALISATION SPELLS DEATH FOR MALI’S ‘GORILLA’ GOLD MINE

Australian-based miner Firefinch has given up on its efforts to recapitalise its 80%-owned Morila gold mine in Mali, almost certainly sending the mine once known as “Morila the Gorilla” into insolvency.

GROWING LINDA PROJECT TARGET HIGHLIGHTS ZINC POTENTIAL AT FLINDERS RANGE

New laboratory assays have doubled the size of the zinc soil anomaly target at critical minerals explorer Stelar Metals’ Linda zinc project in South Australia’s Flinders Ranges, with the scale and DSO grade indicating its potential for economic mineralisation at depth.

FALL OF GROUND AFTERMATH TRIGGERS ADMINISTRATION FOR RED RIVER’S THALANGA MINE

Australian miner Red River Resources has appointed administrators to its Thalanga zinc-copper-lead mine to tackle threats to its solvency due to continuing performance issues following a fall of ground incident nearly three months ago.

MALLEE RESOURCES REACTIVATES AVEBURY NICKEL MINE IN SIX MONTHS

Explorer Mallee Resources has joined the ranks of Australian nickel sulphide producers after making a successful start to the commissioning of the processing plant at its 100%-owned Avebury project in Tasmania.

MINERAL RESOURCES STILL PONDERING STRATEGIC OPTIONS FOR LITHIUM BUSINESS

Australia mining and services company Mineral Resources is continuing to evaluate “strategic options” for its rapidly growing lithium hard rock operations in the Pilbara and Goldfields regions of WA.

CAVALIER LIFTS HOPES FOR LEONORA PROJECT AFTER FIRST DRILL CAMPAIGN

West Australian explorer Cavalier Resources reports encouraging results in recent drilling that targeted extensions to the existing resource area at its 100%-owned Crawford gold project at Leonora.

CANNON RESOURCES PUTS OUT THE JV SHINGLE FOR WA’S COLLURABBIE PROJECT

West Australian explorer Cannon Resources has identified 55 areas of interest including potential targets for shallow geochemistry following analysis of historical geophysical data at its Collurabbie nickel-copper-PGE and gold project.

ELEVATE IDENTIFIES BIG URANIUM TARGET AT NAMIBIA’S KOPPIES PROJECT

Elevate Uranium has raised the potential to add significantly to its maiden 20.3Mlb U3O8 inferred mineral resource at its Koppies project in Namibia with the identification of a mineralised zone extending over 10km and up to 1,000m wide.

MID-2023 TARGET FOR APPROVAL OF HIGH-GRADE FEDERATION DEPOSIT UNDERGROUND MINE

Australian miner Aurelia Minerals has outlined the starting physical and economic picture for the development of an underground mine at its high-grade, low-cost Federation polymetallic deposit in the Cobar Basin of central-western New South Wales.

WA NICKEL EXPLORER ST GEORGE MINING JOINS THE TREND TO FOCUS ON LITHIUM

The first assays of visibly mineralised pegmatite rock samples have validated the potential for significant lithium mineralisation at St George Mining’s Mount Alexander project in the NE Goldfields of Western Australia.

KINGSLAND MINERALS DRILLING BREATHES LIFE BACK INTO CLEO URANIUM PROJECT

Australian explorer Kingsland Minerals has laid the foundation to grow the footprint of the Cleo uranium mineralisation based on initial assay results from its maiden drilling program in the historic Pine Creek mining region in the NT.

EXPLORATION SUCCESSES CARRY BELARAROX TO NEW PHASE IN NSW SEARCH

Australian explorer Belararox is considering the release of a mineral resource estimate next month as it progresses metallurgical testwork on targets at the historical Native Bee mine site, part of its 100%-owned Belara project in NSW.

MAGMATIC RESOURCES' MASSIVE INTERSECTION SHARPENS ITS CORVETTE FOCUS

Australian explorer Magmatic Resources has made an impressive start to its drilling campaign on the Corvette prospect at its Myall licence in NSW, delivering the highest-grade, broadest and deepest mineralised interval. Ross Louthean reports

SAMS CREEK PROJECT EMERGES AS AN UNDERGROUND PLAY FOR SIREN GOLD

Australian explorer Siren Resources is following up the potential for an underground development of Sams Creek, New Zealand's largest undeveloped gold project.

HARMONY GOLD BUILDS COPPER STRATEGY IN $230M AUSTRALIAN PROJECT BUY

South African-based Harmony Gold Mining reached agreement on the $230M acquisition of the Eva copper-gold project from Canadian owner Copper Mountain Mining, diversifying its commodity range and risk profile.

NEW TALISMAN MINES PREPARES TO REACH THE LIGHT AT THE END OF ITS TUNNEL

New Talisman Goldmines holds meetings with a range of industry specialists as it moves into detailed preparations for its strategic plan to produce gold from its NZ mine in 2023.
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Breaks - FORTESCUE METALS: RECORDS CAP FAST FY23 START

Published: 27 Jan, 2023, Relevance: 1

World No 4 iron ore producer Fortescue Metals has continued its strong start to FY23, with Dec qtr (Q2) shipments of 49.4Mt from its West Australian Pilbara system bringing it closer to its annual target rate of 200Mtpa. C1 costs of production improved to $US17.17/wmt ($17.69/t).
Exec chairman Andrew Forrest says the production increase, from 47.5Mt in Q1, has been achieved ahead of the commissioning of its Iron Bridge operation. Its...

Breaks - GRANGE RESOURCES: STRONG Q4 ENDS CHALLENGING YEAR

Published: 27 Jan, 2023, Relevance: 1

Australian pellet producer Grange Resources has wrapped up a challenging year for its Savage River magnetite mine in Tasmania, lifting Dec qtr (Q4FY2022) concentrate production to 667,645t from 655,316t in the previous period.
Pellets production was 606,963t (Q3: 639,713t), ending the year with stockpiles of 298,725t (390,348t) pellets and 45,672t (18,357t) concentrate.
Total Q4 iron ore product sales were 767,019dmt (583,381t) at...

Breaks - CHAMPION IRON: BLOOM LAKE RECORD LIFTS Q3 RESULTS

Published: 27 Jan, 2023, Relevance: 1

Canadian miner Champion Iron has established a new record, producing 2.96Mwmt iron ore concentrate for the Dec qtr (Q3FY23) at its 100%-owned Bloom Lake mine in the S Labrador Trough and beating its previous best 2.86Mt in Q2.
CEO David Cataford says the record performance coincides with reaching commercial production at its Phase II expansion project and completing a positive PFS on upgrading Bloom Lake’s iron ore concentrate to a...

Breaks - FENIX RESOURCES: HAULAGE PACKAGE DELIVERS COST BENEFITS

Published: 27 Jan, 2023, Relevance: 1

A 15% improvement in operating costs during the Dec qtr has illustrated the benefits of the fully integrated mining-haulage-logistics structure of Western Australian iron ore producer Fenix Resources’ Iron Ridge project.
Iron Ridge’s Q2FY23 production of 167,600wmt lump (Q1: 155,400t) and 197,000t (195,300t) fine ore came at C1 cash costs of $A77.80/t ($84.10/t). Its sales of 298,000t (361,000t) realised $153.70/dmt ($153.90/t) CFR.
Chairman John...

Breaks - CRITICAL METALS: DRC MINE DELIVERS FIRST COPPER

Published: 26 Jan, 2023, Relevance: 1

UK-based specialist company Critical Metals has begun copper production at the former producing Molulu copper-cobalt mine in DR Congo following the completion of onsite preparation work and delivery of several vital pieces of mining equipment.
Initial production is forecast 10,000tpm copper oxide ore at steady-state. Ore will be stockpiled for sale into the market in Feb 2023. Copper material will be processed at local plants.

Company - Critical Metals Plc

Published: 26 Jan, 2023, Relevance: 1

London-based company focused on brownfield strategic metals sector opportunities with DR Congo.
Sept 2022: Readmitted to trading on LSE after raising GBP1.8M at 20cps

Breaks - SHANTA GOLD: WEST KENYA INDICATED RESOURCE GROWS

Published: 26 Jan, 2023, Relevance: 1

East Africa-focused miner Shanta Gold is emphasising the potential for a very high-quality, high-grade gold mine at its West Kenya project after posting an updated NI 43-101 resource of 1.72Moz (10.26Mt @ 5.21g/t).
The estimate for the project in Kenya's highly prospective and under-explored greenstone Busia-Kakamega Gold Belt includes a 91% increase in indicated resources to 722,000oz (1.96Mt @ 11.4g/t).
CEO Eric Zurrin says the high grade of the...

Breaks - FREEPORT-MCMORAN: NEW LEACH PACKAGE TO LIFT COPPER OUTPUT

Published: 26 Jan, 2023, Relevance: 1

Global miner Freeport McMoRan is pushing forward with a range of leach processing initiatives it believes could deliver at a rate of up to 200Mlbpa copper by the end of FY2023 from its North and South American operations.
Freeport says the package of new applications, technologies and data analytics offer the opportunity to produce incremental copper from its existing leach stockpiles and material currently classified as waste.
The company posted FY2022 production...

Breaks - ARIS MINING: CANADIAN MINER CHASES ‘DRAMATIC GROWTH’

Published: 26 Jan, 2023, Relevance: 1

Canadian-based Aris Mining has reaffirmed its aspirations for dramatic growth in the years ahead after delivering FY2022 gold production of 235,379oz at its Segovia and Marmato Upper mines in Colombia.
Segovia contributed 210,163oz and the Marmato Upper Mine, acquired through the company’s takeover of Aris Gold in Sept 2022, had full year production of 25,216oz.
Aris has established FY2023 production guidance at 230,000-270,000oz...

Company - Aris Mining Corporation

Published: 26 Jan, 2023, Relevance: 1


Vancouver-based company focused on gold projects in Colombia and Guyana

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Mining Billboard

Insights and analysis from leading industry commentators

US GOVERNMENT BACKS IONEER PROJECT AS KEY TO CRITICAL MINERALS SUPPLY SECURITY

(DEVELOPMENT) The US government has recognised the potential value of Ioneer’s Rhyolite Ridge lithium-boron project in Nevada to the national push for security of critical minerals supply with the offer of a $700M development loan.

SAUDI MINING GIANT SEEKS MORE GROWTH THROUGH INTERNATIONAL PARTNERSHIPS

(EXPLORATION) Saudi Arabia’s majority government-owned mining company Ma’aden has unveiled three new initiatives using partnerships with international miners and the nation’s massive investment capacity to advance a new phase of domestic and international growth.

GLOBAL COAL USE REACHING ALL-TIME HIGH ... BUT INDUSTRY TRENDS POINT TO RAPID DECLINE

(COMMENTARY) The global use of coal for electricity generation will hit record levels this year, but lack of new investment in export-driven coal projects supports the expectation that peak coal has been reached and will rapidly decline in the face of global pressure on fossil fuels.

THE YOUNG AUSTRALIANS WHO WON A HUMAN RIGHTS CASE AGAINST AN ENORMOUS COAL MINE

(COMMENTARY) A Queensland special court has made legal history by recommending refusal of a coal mine development on climate change grounds, in the first case in Australia that links human rights and climate change.

AUSTRALIAN COURT SETS NEW ‘RIGHTS’ STANDARD TO BLOCK PALMER'S THERMAL COAL MINE

(ENVIRONMENTAL) Australian natural resources court adopts climate change and human rights arguments to oppose giant thermal coal mine development.

ABB ENLISTS PERENTI FOR MINING ELECTRIFICATION PUSH TOWARDS NET ZERO EMISSIONS

(SUSTAINABILITY) Global power and automation technology company ABB has added mining services group Perenti to its list of partnerships aiming to promote electrification of mine haulage operations and other decarbonisation strategies for the resources sector.
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