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Mining Bulletin

The full story: In-depth news and analysis

FIREFINCH LAUNCHES ‘DECISIVE’ INTERVENTION TO OFFSET SLOW RAMP-UP AT MORILA MINE

The ‘perfect storm’ of events that have dragged the performance of its Morila Super Pit have left new miner Firefinch relying on increased resource and reserve estimates and a new mine plan to restore its fortunes.

TRITON TO PURSUE ANCUABE GRAPHITE PROJECT DESPITE FORCE MAJEURE OVER FATAL RAID

Triton Minerals has declared force majeure on site work at its Ancuabe flake graphite project in Mozambique following a mid-June raid by insurgents in which two of its security staff were fatally injured.

AERIS RESOURCES CREATES MID-TIER PORTFOLIO WITH $234M ROUND OAK ACQUISITION

Australian miner Aeris Resources has made a significant step towards becoming a mid-tier base and precious metals producer after completing the $A234M acquisition of the Round Oak Minerals assets of investor WH Soul Pattinson.

NEW TALISMAN SHAREHOLDERS SUPPORT LIFTING COBWEBS OFF HISTORIC KIWI MINE

New Talisman shareholders have backed a $3.5M capital raise and recovery plan to advance its long-delayed plans to reopen its historic gold mine in New Zealand’s Coromandel Peninsula. Ross Louthean reports

PILBARA MINERALS TARGETS GLOBAL LITHIUM SUPPLY ROLE WITH WA PROJECT EXPANSION

Australian lithium producer Pilbara Minerals gives the final investment decision for the near-$A300M expansion of its Pilgangoora operation as it positions itself to become a global player in the world’s pursuit of a sustainable energy future.

FORD OFFTAKE AND DEBT FUNDING DEALS MOVE LIONTOWN CLOSER TO KATHLEEN VLY GO-AHEAD

A third foundation offtake agreement and $A300M debt facility deal with Ford have cleared the way for Liontown Resources to reach a final investment decision on the planned $473M development of its Kathleen Valley lithium mining and processing project in Western Australia. John Feary reports

POSITIVE NEW REPORTS EMERGE FROM CANNINDAH RESOURCES’ EXPLORATION OF HISTORIC DEPOSIT

The story of the Mt Cannindah copper and gold project in Queensland, Australia has been described in an academic paper as one of “perpetual promise and repeated disappointment”, but the latest of its many explorers is finding more to be positive about. Ross Louthean reports

NORTHERN STAR LAUNCHES STUDY FOR POSSIBLE $1.4B SUPER PIT PLANT EXPANSION

Western Australia’s iconic gold mine, the Kalgoorlie Super Pit, could increase its annual production by as much as 200,000oz depending on the results of a feasibility study launched by owner Northern Star Resources

NEW DRILLING AND FUNDING TALKS ADVANCE CYPRIUM TOWARDS A NIFTY MINE RESTART

Positive infill drilling results and initial agreement on a $A50M secured prepayment offtake facility with global trader Glencore have brought Cyprium Metals a significant step closer to a restart of its Nifty copper mine in Western Australia. Ross Louthean reports

ANTILLES GOLD EYES SECOND CUBAN DEVELOPMENT IN ABANDONED RUSSIAN MINE

Australian-based Antilles Gold has identified a second potential project in Cuba for its joint venture with state mining company GeoMinera, in the remains of a Russian mining company’s abandoned Cold War-era mine.

LODE RESOURCES AIMS FOR A BIG SILVER LINING IN NEW ENGLAND EXPLORATION RESULTS

Australian explorer Lode Resources aims to overcome erratic markets for silver and the metallurgical challenges for achieving optimum recovery from its silver-rich discoveries in the New England belt stretching south into NSW. Ross Louthean reports

SUPERIOR RESOURCES AIMS FOR EXCITEMENT IN FOLLOW-UP DRILLING OF GREENVALE PROJECTS

It’s finding it tough to generate a market response, but Australian explorer Superior Resources is convinced its follow up to numerous ground-breaking findings at its Greenvale projects in North Queensland will be its most anticipated and exciting drilling program. Ross Louthean reports

ASSET DEAL ADVANCES HORIZON MINERALS’ COOLGARDIE PROJECT DEVELOPMENT PLANS

Horizon Minerals is targeting higher returns on investment by establishing a contract mining and toll milling model as it completes another deal aiming for the sequential underground development of its portfolio of gold projects in the West Australian Goldfields.

EIGHT-YEAR LIFE SENTENCE FOR BHP’S GIANT MT ARTHUR THERMAL COAL MINE

BHP has set a deadline of mid-2030 to cease mining at Australia’s largest openpit thermal coal mine after a two-year process seeking a trade sale failed to come up with a viable offer.

GUDAI-DARRI CARRIES RIO TINTO INTO THE FUTURE OF TECHNOLOGICAL INNOVATION

Trains and trucks and drills ... autonomous fleets and advanced systems are among the features that convey global iron ore leader Rio Tinto into a new era of technological innovation at its Gudai-Darri iron ore mine in Western Australia. John Feary reports

COMMUNITY BLOCKADE PREVENTS ANTOFAGASTA COPPER MINE PIPELINE REPAIRS

A community protest is delaying attempts by major Antofagasta to access and repair a pipeline leak that has halted the export of copper concentrate from its Los Pelambres mine in northern Chile.

BOSS GO-AHEAD POSITIONS HONEYMOON MINE FOR URANIUM MARKET RECOVERY

Boss Energy has declared it’s on track to become Australia’s newest uranium producer by the end of 2023 after reaching the final investment decision on the $80M redevelopment of the Honeymoon project in South Australia.

VITTANGI GRAPHITE RESOURCE UPDATE ADVANCES TALGA GROUP BATTERY ANODE STRATEGY

Battery minerals company Talga has confirmed its Vittangi graphite project in northern Sweden as Europe’s largest and the world’s highest reported grade as it advances its vertically integrated mine-to-anode strategy.

GLENCORE TO PAY $1.2B TO SETTLE BRIBERY AND MARKET MANIPULATION ALLEGATIONS

Global miner/trader Glencore declares it is a different company after agreeing to pay $US1.2B in penalties and costs to resolve a series of international probes into past bribery and market manipulation allegations.

OZ MINERALS TEAMS WITH HAVILAH TO ADVANCE POTENTIAL NEW S AUST COPPER PROVINCE

Prominent Australian producer OZ Minerals has teamed with explorer Havilah Resources in a strategic alliance that aims to explore and develop what could be Australia’s next great copper region in the Curnamona Province of South Australia.
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START THE WEEK: COMMODITIES (July 3, 2022)

LME ($US) 3-month closing prices, Jul 3 –
Copper 8,055.00
Aluminium 2,468.50
Zinc 3,045.00
Nickel 21,790.00
Lead 1,930.00
Tin 26,150.00

LME ($US) precious spot closing prices, Jul 3 –
Gold 1,801.00
Silver 19.72

NASDAQ ($US) closing prices, Jul 1 –
Gold 1,801.50
Silver 19.667
Copper 3.604
Platinum  871.30
Palladium 1,938.10

NYMEX ($US) 62% Fe CFR China, market close, Jul 1 –
Iron ore 114.45

START THE WEEK: CALENDAR (July 4, 2022)

Public holidays –
Jul 4: Colombia (Feast of St Peter and Paul)
Jul 4: Guatemala (Army Day)
Jul 4: Guyana (CARICOM Day)
Jul 4: Rwanda (Liberation Day)
Jul 4: USA (Independence Day)
Jul 4: Zambia (Heroes’ Day)
Jul 5: Cape Verde (Independence Day)
Jul 5: Czechia (Saints Cyril and Methodius)
Jul 5: Venezuela (Independence Day)
Jul 5: Zambia (Unity Day)
Jul 6: Czechia (Jan Hus Day)
Jul 6: Kazakhstan (Day of the Capital)
Jul 6: Lithuania (King Mindaugas Coronation Day)
Jul 6: Malawi (Independence Day)

START THE WEEK: COMMODITIES (June 26, 2022)

LME ($US) 3-month closing prices, Jun 26 –
Copper 8,322.00
Aluminium 2,450.00
Zinc 3,346.00
Nickel 22,100.00
Lead 1,939.50
Tin 25,175.00

LME ($US) precious spot closing prices, Jun 26 –
Gold 1,828.00
Silver 21.16

NASDAQ ($US) closing prices, Jun 24 –
Gold 1,830.30
Silver 21.159
Copper 3.7445
Platinum 903.30

NYMEX ($US) 62% Fe CFR China, market close, Jun 24 –
Iron ore 129.71

START THE WEEK: CALENDAR (June 27, 2022)

Public holidays –
Jun 27: Azerbaijan (Day Off for Armed Forces Day)
Jun 27: Chile (St Peter and St Paul)
Jun 27: Colombia (Sacred Heart)
Jun 27: Tajikistan (Day of National Unity)
Jun 29: French Polynesia (Autonomy Day)
Jun 29: Peru (St Peter and St Paul)
Jun 30: Congo-Kinshasa (Independence Day)
Jun 30: Egypt (June 30 Revolution)
Jun 30: Central African Republic (National Payer Day)
Jul 1: Botswana (Sir Seretse Khama Day)
Jul 1: Canada (Canada Day)
Jul 1: Hong Kong (Special Administrative Region Establishment Day)

START THE WEEK: COMMODITIES (June 19, 2022)

LME ($US) 3-month closing prices, Jun 19 –
Copper 8,949.00
Aluminium 2,503.00
Zinc 3,524.00
Nickel 25,595.00
Lead 2,050.00
Tin 31,150.00

LME ($US) precious spot closing prices, Jun 19 –
Gold 1,838.20
Silver 21.61

NASDAQ ($US) closing prices, Jun 17 –
Gold 1,840.6
Silver 21.681
Copper 4.0295
Platinum 930.80
Palladium 1,798.70

NYMEX ($US) 62% Fe CFR China, market close, Jun 17 –
Iron ore 135.69

START THE WEEK: CALENDAR (June 20, 2022)

Public holidays –
Jun 20: Argentina (Flag Day)
Jun 20: Colombia (Corpus Christi)
Jun 20: Eritrea (Martyrs’ Day)
Jun 20: USA (Juneteenth substitute)
Jun 20: Trinidad & Tobago (Labour Day Observed)
Jun 21: Bolivia (Aymara New Year Day)
Jun 21: Chile (National Day of Indigenous Peoples)
Jun 21: Greenland (National Day)
Jun 22: Croatia (Day of Antifascist Struggle)
Jun 23: Estonia (Victory Day)
Jun 24: Estonia (Midsummer Day)
Jun 24: Lithuania (St John’s Day/Day of Dew)
Jun 24: New Zealand (Matariki)

START THE WEEK: COMMODITIES (June 12, 2022)

LME ($US) 3-month closing prices, Jun 12 –
Copper 9,435.00
Aluminium 2,682.50
Zinc 3,699.50
Nickel 27,250.00
Lead 2,142.00
Tin 35,000.00

LME ($US) precious spot closing prices, Jun 12 –
Gold 1,871.50
Silver 21.93

NASDAQ ($US) closing prices, Jun 10 –
Gold 1,875.50
Silver 21.931
Copper 4.2945
Platinum 971.00
Palladium 1,907.00

NYMEX ($US) 62% Fe CFR China, market close, Jun 10 –
Iron ore 141.51

START THE WEEK: CALENDAR (June 13, 2022)

Public holidays –
Jun 13: Australia Regions, PNG (Queen’s Birthday)
Jun 13: Greece (Orthodox Holy Spirit Monday)
Jun 13: Nigeria (Day Off for Democracy Day)
Jun 13: Romania (Orthodox Pentecost Monday)
Jun 13: Russia (Day Off for Russia Day)
Jun 13: Portugal Regions, Venezuela(St Anthony’s Day)
Jun 14: Sri Lanka (Poson Full Moon Poya Day)
Jun 15: Azerbaijan (Day of National Salvation)
Jun 16: Observing Countries (Corpus Christi)
Jun 16: South Africa (Youth Day)

START THE WEEK: COMMODITIES (June 3, 2022)

LME ($US) 3-month closing prices, Jun 5 –
Copper 9,520.00
Aluminium 2,724.00
Zinc 3,872.50
Nickel 28,270.00
Lead 2,155.00
Tin 35,000.00

LME ($US) precious spot closing prices, Jun 5 –
Gold 1,845.80
Silver 21.85

NASDAQ ($US) closing prices, Jun 3 –
Copper 4.472
Gold 1,850.20
Palladium 1,985.90
Platinum 1,016.40
Silver 21.908

NYMEX ($US) 62% Fe CFR China, market close, Jun 3 –
Iron ore 144.02

START THE WEEK: CALENDAR (June 7, 2022)

Conferences –
Jun 8-9: Resources Rising Stars, Melbourne (Australia)

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Mining Billboard

Insights and analysis from leading industry commentators

CHIMERA PROJECT DRILLING PUTS A FEATHER IN NEW EXPLORER DEMETALLICA’S CAP

(EXPLORATION) It draws its name from the authoritative 16th century classic of mining literature, De Re Metallica, and strong drilling results are beginning to flow for newly listed Australian explorer Demetallica at its flagship Chimera polymetal project in NW Queensland. Ross Louthean reports

MACRON DECLARATION OFFERS HOPE FOR OPPONENTS OF DEEP-SEA COMMERCIAL MINING

It may be the world’s largest estimated source of the battery metals needed to support the electrication of global passenger and freight fleets, but deep ocean commercial mining has faced more pressure for a permanent ban from a major United Nations conference.

MATSA RESOURCES DEALING THE CARDS ON THE EXPLORATION ROUNDABOUT

(MERGERS & ACQUISITIONS) Wheeling and dealing is as much a feature of life for an ambitious exploration company as drilling and digging, and West Australian Matsa Resources has demonstrated in two recent transactions that it is in the buying and selling business as well as activating exploration offshore. Ross Louthean reports

SIREN GOLD NEEDS SUSTAINABLE SEARCH SUCCESSES TO BE NZ’S NEW GOLD HOPE

(COMMENTARY) An investor presentation last week by Australian explorer Siren Gold shows it is hoping to walk in the footsteps of New Zealand’s only major gold producer, OceanaGold Corporation. By Ross Louthean

20 YEARS ON, ICMM BOOSTS GLOBAL INDUSTRY COMMITMENT TO RESPONSIBLE MINING

(SUSTAINABILITY) Twenty years after the Toronto Declaration that set out its founding principles, the International Council on Mining and Metals has reaffirmed its belief that ‘how’ is more important than ‘how much’ in measuring the industry’s essential contribution to global wellbeing.

SOUTH AFRICAN MINERS SEEK URGENT LOGISTICS REFORMS AS MINERAL EXPORTS HIT NEW LOWS

(REGULATION) South African mining leaders advocate more private sector participation in national freight and port operations as part of an urgent call for action as mineral exports fall to their lowest levels outside the pandemic shutdowns.
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Mining Brokers

START THE WEEK: COMMODITIES (July 3, 2022)

    START THE WEEK: CALENDAR (July 4, 2022)

      START THE WEEK: COMMODITIES (June 26, 2022)

        START THE WEEK: CALENDAR (June 27, 2022)

          START THE WEEK: COMMODITIES (June 19, 2022)

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