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Mining Bulletin

The full story: In-depth news and analysis

GHANA CONSOLIDATION JV FORECAST TO CREATE AFRICA’S LARGEST GOLD MINE

International miners Gold Fields and AngloGold Ashanti are predicting significant operational synergies by optimising the mining and consolidating the infrastructure of their immediately adjacent Tarkwa and Iduapriem gold mines in Ghana.

FMG OUTLINES $200M INITIAL CAPITAL COST FOR BELINGA IRON ORE PROJECT

Fast-moving Fortescue Metals sets a H2 2023 target for first production from its international iron ore expansion, the Beninga project in NE Gabon.

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.
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MACMAHON: $1.35B+ IN RECENT CONTRACTS

 

Perth, Jul 20

Leading Australia-based mining contractor Macmahon has concluded contracts on 3 previously announced projects adding over $A1.35B to the company’s order book.
The projects are for St Barbara’s Gwalia gold operation in Western Australia, a $A500M contract spanning 5-years that started in May 2021; the Anglo American operated Dawson South Coal project in Queensland, Australia, of $200M over 3-years that started July 1 2021; and Red 5’s King of the Hills gold operation in WA of $650m over 5-years starting early 2022.
The company has also signed a new contract with gold miner Northern Star Resources for surface mining work at the Julius Gold Project in WA, expected to deliver $25M over the next 12 months. Macmahon is also well progressed in finalising the commercial arrangements for Phase-8 of its Batu Hijau copper-gold project in Indonesia.
The company expects FY 21 revenue and underlying EBIT to be within guidance of $1.3B-$1.4B and $90M-$100M respectively. FY 21 results expected Aug 25, 2021.

Macmahon Holdings

Exchange Code: 
ASX:MAH
Website: 
http://www.macmahon.com.au

Australian-based contract mining company with projects in Australia, New Zealand, South East Asia, Mongolia and Africa

St Barbara Limited

Exchange Code: 
ASX:SBM
Website: 
http://www.stbarbara.com.au

Melbourne-based gold producer with key assets in Western Australia, Canada and Papua New Guinea

Anglo American Plc

Exchange Code: 
LSE:AAL, JSE:AGL, Pink Sheets (OTC) AAUK, SIX:AAM, BSE:ANGLO,NSX:ANM
Website: 
http://www.angloamerican.com

London-based international miner with iron ore, manganese, base and precious metals operations in Southern Africa, North and South America and Australia.

Red 5 Limited

Exchange Code: 
ASX:RED
Website: 
http://www.red5limited.com

Perth-based gold miner and explorer focused on production and exploration assets in Western Australia after suspending its Siana gold project in the Philippines

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