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The full story: In-depth news and analysis

Confirmation of up to $160M in financial assistance from the Northern Australia Infrastructure Facility supports plans by Sheffield Resources and 50-50 joint venture partner Yansteel to finalise project funding in the September quarter for development of the Thunderbird mineral sands project on WA’s Dampier Peninsula. John Feary reports

South African coal producer MC Mining is targeting the finalisation of financing arrangements and start of construction in 2022 based on a positive BFS for its 68%-owned Makhado hard coking and export-quality thermal coal mine.

Northern Star sells its Paulsens Gold Operation and Western Tanami Gold Project, both in Western Australia, to the Black Cat Syndicate for $44.5M in cash/scrip

Offtake and strategic collaboration agreement with Ford Motor Co further de-risks clean lithium developer Lake Resources’ development of the 50,000tpa Kachi lithium brine project in Argentina’s Lithium Triangle and advances its ambitious Target 100 multi-mine strategy.

Kenmare Resources posts a range of records for FY/CY 21 topped by an after tax net profit up $128.5M from $16.7M

Surging global demand for lithium for electric vehicles and appliances has seen leading Australian producer Mineral Resources convince its joint venture partners to accelerate the expansion of its two spodumene concentrate operations in WA. John Feary reports

Iluka Resources has approved a $A1B-plus refinery development at its Eneabba operation in Western Australia that is slated to become a sustainable, secure and globally competitive source of separated rare earth oxides. John Feary reports

A new prefeasibility study has outlined a revised development strategy that may end the long delay at Grange Resources’ 70%-owned Southdown magnetite mine in Western Australia. John Feary reports

Chilean copper giant Antofagasta will accept $US900M as compensation for its withdrawal from a multilateral agreement to end the 11-year-old lockdown of one of the world’s largest undeveloped copper-gold deposits, the Reko Diq project in Pakistan.

International metallurgical engineer SMS has effectively acknowledged that local knowledge is the key to mastering the supply chain, logistics and costs challenges of the pandemic-afflicted global economy, approving a revised development strategy for Australia’s potential world-class Mount Peake critical and battery metals project.

Rio Tinto launches a $US2.7B cash bid to take a direct 66% stake in the massive Oyu Tolgoi copper-gold project in the Gobi Desert to strengthen its copper portfolio and establishing a simpler and more efficient partnership structure with the Mongolian government.

AngloAmerican turns in a record financial Dec 2021 year with profit up to $8.56B from $2.08B, EBITDA 111% better to a record $20.6B and overall revenue up 63% to $41.55B

Repercussions of Russia’s military bastardry halt Ukraine mines while companies across the border fear becoming the inadvertent victims of global sanctions against the aggressor.

FY/CY 21 profit jump on a new gold stream and a continued strong performance from Costerfield, Australia, sees Mandalay well on track for 2022

Increased silver/gold production from Hochschild Mining’s 3 South American operations has lifted its Dec 31, 2021, year (FY/CY 21) net profit to $US71.1M from the previous year’s $20.42M.
The pre-tax, post-exceptional, profit jumped to $137.3M from $62.9M on revenue up to $811.4M from $621.8M and adjusted EBITDA to $382.8M from $270.9M.

Rio Tinto pays its highest ever dividend after lifting FY/CY 21 profit to $21.1B

Coeur Mining's FY/CY 21 loss blowout to $31.3M, despite best revenue haul in 10-years

Lower gold production from Kinross Gold's global operations has smacked December 2021 year's net profit down to $221.2M from the previous year's $1,342M

Barrick Gold's Dec 2021 year (FY/CY 21) net earnings fall to $US2.02B from the previous year’s 2.3B, on the back of gold output down to 4.43Moz from 4.76Moz.

Copper Mountain Mining is forecasting substantial increases in annual copper and gold production as it prepares to complete a revised life of mine plan for its Canadian flagship project.

Vista Gold’s feasibility study points to a unique development opportunity at its Mt Todd gold project in the Northern Territory of Australia.

Vale flags better FY/CY 22 after lifting FY 21 iron ore, pellets and coal output

OceanaGold concedes it is focused on rebuilding its market credibility with the release of a technical review of its key Haile gold mine in USA and a three-year outlook report demonstrating higher production and higher margins.

International diversified engineering services company Thiess has been awarded the full mining services contract for Pembroke Resources at its world-class Olive Downs coking coal mine in Australia.

Australian uranium miner ERA will seek to extend its tenure over the Ranger uranium mine to allow for significant increases in the costs and timeline for rehabilitation of the site in the heart of the world-renowned Kakadu National Park.

South32 has laid out the potential for a multi-decade operation in studies that establish its Hermosa project in Arizona, USA as a globally significant producer of metals critical to a low-carbon future.

Canadian miner Endeavour Silver has signalled plans to accelerate its vision to move from the mid-tier to a premier global position among silver producers with the $70M agreement to acquire one of the world’s largest undeveloped silver projects from SSR Mining.

The sustained rebound in iron ore prices from their late-2020 declines have encouraged the West Australian operators of two small-volume, high-grade mines to bring them back into mine production.

Six-month shutdown of St Barbara’s Simberi gold mine in PNG ends with the completion of a new deep-sea tailings pipeline and plant upgrades together with a revised mine plan.

Canadian developer Artemis Gold is confident it will still meet its capital costs and timeline forecasts for the Blackwood gold project in central BC despite the termination of its plant engineering, procurement and construction contract with Ausenco Engineering.

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