Mineral Resources Limited (MRL)
Mineral Resources Limited (MRL)
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West Australian mining companies are moving on to the next stage of a program to tackle sexual assaults and harassment on the state’s remote mines after alarming reports of attacks, bullying and intimidation on mixed gender sites triggered a state parliamentary inquiry.
Under the Resourceful Mind program developed by the Chamber of Minerals and Energy in partnership with mental health support services Lifeline WA, hundreds of “minders” are being trained to provide a first point of contact on workplaces.
(GOVERNANCE)
West Australian miners back peer support program to tackle revelations of sexual assaults and harassment, bullying and intimidation on the state’s remote minesites.
West Australian miner and services company MinRes has strengthened its lithium portfolio with a legally binding term sheet to earn majority interests in explorer Marquee Resources’ West Spargoville project 100km S of Kalgoorlie.
MinRes will spend $A1.5M on exploration to completion of a feasibility study and tenement acquisition, then have rights to acquire take either 70% of a processing farm-in by funding activities to a final investment decision or 51% of a mining farm-in by completing mine development.
West Australian company Mineral Resources reports its March quarter (Q3) performances have kept both the mining and mining services arms of its business on track for FY22 guidance.
Mining services production volumes were 63.4Mt, down from 71.4Mt in Q2, but are still on target for its 275-290Mt forecast.
Q3 iron ore shipments totalled 4.7Mwmt (4.9Mt), driven by growth at the Utah Point Hub, on guidance to ship 18.5-19.5Mt at CFR costs of $A96-104/t for the Yilgarn Hub and $80-88/t for Utah Point.
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
Unprecedented global customer demand has prompted Australian miner-processor Mineral Resources to accelerate production upgrades for its Wodgina and Mt Marion spodumene mines in WA.
The expansions have been agreed by Mineral Resources with its JV partners – Albemarle (60%) at Wodgina in the Pilbara region and Jiangxi Ganfeng Lithium (50%) at Mt Marion in the Goldfields region.
Collapsing iron ore prices, including wider discounts for sub-premium grade production, has sent West Australian miner and mining services company Mineral Resources to its worst first-half financial result in three years.
MRL posted H1FY22 underlying EBITDA of $A156M, down from $763M a year earlier, on revenue of $1.35B (H1FY21: $1.53B). Net earnings after tax plunged to a $36M loss, compared to its previous NPAT of $430M.
A plan by mining entrepreneurs Gina Rinehart and Chris Ellison to open new export routes for currently stranded iron ore assets in the Pilbara region will be a major beneficiary of the Western Australian government’s approval of a major expansion of the Port Hedland shipping infrastructure.
Port Hedland shipped 546Mt in cargoes in FY21, including 523Mt iron ore. Ports minister Rita Saffioti says the expansion will lift total capacity to 660Mtpa.
Tulla Resources has signed an offtake agreement with private miner and trader Koch Metals Australia for up to 400Mt of iron ore production from the Norseman gold project in Western Australia.
West Australian miner and mining services company Mineral Resources will take up the search for lithium at the Norseman gold project at the southern end of the state’s Eastern Goldfields under a binding term sheet for a farm-in with its 50-50 owners Tulla Resources and Pantoro.
MRL will spend $A3M and complete a feasibility study within 24 months and fund the project to first production for 65% ownership of the project.