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Mining Bulletin

The full story: In-depth news and analysis

KIRKLAND LAKE BEATS COVID CHALLENGES WITH RECORD FY OUTPUT AND EARNINGS

Acquisition of the Detour Lake gold mine in Ontario has helped Canadian miner Kirkland Lake Gold to achieve record production, earnings and cash-flows amid the challenges of global pandemic.

FAST-ACTING RESERVES PROGRAM OPENS A DOOR TO RENEWED GROWTH FOR ANGLOGOLD

AngloGold Ashanti has established a ‘clear and credible path’ to extended, high-return growth with the identification of 6Moz in new ore reserves after the first 12 months of a multi-year investment program.

CHILEAN GIANT SQM GO-AHEAD ON INITIAL FUNDING FOR WA LITHIUM MINE-TO-REFINERY PROJECT

West Australian conglomerate Wesfarmers and Chile’s Sociedad Quimica y Minera have given their deferred final investment approval for ambitious vertically integrated lithium hydroxide development.

MALARTIC PARTNERS APPROVE THE START OF A NEW ODYSSEY FOR ICONIC CANADIAN GOLD MINE

The decades-long history of the Canadian Malartic gold mine begins its transition to a new era of underground operations with the go-ahead by JV partners Yamana Gold and Agnico Eagle Mines for the start of construction of the Odyssey mine.

ORION SEES BASE METALS MINING HOUSE OPPORTUNITY IN $18M S AFRICAN OPTION

Orion Minerals has outlined ambitions to restore the historic glory days of South Africa’s Okiep Copper Complex after signing a $16M option agreement that will transform it into a significant base metals mining house.

HERITAGE LEGISLATION CHANGES TO POSE UNKNOWN CHALLENGES FOR RIO TINTO IRON ORE

The fallout of its destruction of priceless heritage assets in Western Australia continues for Rio Tinto as it waits to see the potential impact of yet-to-be-revealed new state legislation on its mining, development and community relations.

PHILIPPINES GOVERNMENT TALKS RAISE HOPES OF REVIVING OCEANAGOLD’S SUSPENDED DIDIPIO MINE

International miner OceanaGold warns the timeline for a revival of its Didipio gold and copper mine in the Philippines remains uncertain despite a breakthrough in talks with government agencies on the renewal of its formal approval.

NEWCREST $146M EARLY WORKS APPROVAL EYES 3-YEAR PATH TO HAVIERON COMMERCIAL PRODUCTION

Newcrest Mining is advance on a potential 3-year path to commercial production at its 60%-owned Havieron gold-copper project in Western Australia’s highly prospective Paterson province after approving $A146M funding for early exploration works.

ALBEMARLE LEADS PUSH FOR US MINERALS SUPPLY SECURITY WITH $50M SILVER PEAK EXPANSION

Global specialty chemicals company Albemarle will take a lead in the US drive for security of supply of critical minerals with its planned $50M investment to double production from its Silver Peak lithium project in Nevada.

MALLEE BULL PROJECT DEAL LOCKS IN PEEL MINING’S COBAR BASIN CONSOLIDATION STRATEGY

Peel Mining expands the asset base supporting its hub & spoke strategy for the Cobar Basin in western NSW after gaining state government approval to restore 100% control of the high-grade Mallee Bull underground copper resource.

CRITICAL MINERALS SUPPLY CONCERNS BOOST INTEREST IN LEPIDICO’S PHASE 1 PROJECT

Australian-based Lepidico sees heightened interest from potential offtake and financing partners in its vertically integrated lithium mining and processing project as expectations grow of supply constraints in 2021.

AUSTRALIAN GOVT FLAGS BIG FALLS IN JUNE 2021 YEAR COAL PRODUCTION/EXPORTS

A new Australian Govt report has warned of big falls in thermal/metallurgical coal revenue in the current June 2021 year, with China showing no signs of easing current unloading delays at its ports

ELEMENT 25 IDENTIFIES EARLY EXPANSION PLANS FOR BUTCHERBIRD MANGANESE PROJECT

Australian technology metals specialist Element 25 could move within months to double or treble production at its under-construction Butcherbird manganese project in WA’s Pilbara region.

$490M DEVELOPMENT PROJECT ACQUISITION SET TO DOUBLE NICKEL MINES’ NPI PRODUCTION

Australian-based nickel pig iron producer Nickel Mines aims to double the capacity of its Indonesian assets and strengthen its relationship with leading global stainless steel maker Tsingshan through its planned $490M acquisition of the Angel development project.

MAJOR PM’S GREENLAND DEAL TARGETS GROWING WORLD VEHICLE DEMAND FOR PALLADIUM

Canadian junior explorer Major Precious Metals takes 100% control of one of the largest palladium resources outside South Africa and Russia with its $13M acquisition of the Skaergaard project in Greenland from Platina Resources.

KINGSTON SEES BRIGHT NEW FUTURE FOR PNG’S REMOTE MISIMA ISLAND GOLD MINE

Kingston Resources plans to move on to a definitive feasibility study in the June 2021 quarter at its Misima gold project in PNG after its PFS confirmed its potential of a large-scale, long-life and low-cost operation delivering 130,000ozpa over 17 years at AISC of $A1,159/oz.

K92 MINING Q3 20 PROFIT HALVED TO $US 9.4M, ALL COMMODITIES DOWN

Lower production of all its commodities has seen PNG-focused K92 Mining’s Q3 20 profit plunge to $9.4M from $17M

ENDEAVOUR BID FOR TERANGA TO SECURE WEST AFRICAN GOLD DOMINANCE

Acquisitive Endeavour Mining has followed up its recent $691M takeover of SEMAFO with a friendly bid for Teranga Gold

NTM GOLD TAKEOVER PLAN TO DRIVE DACIAN REGIONAL CONSOLIDATION STRATEGY

West Australian gold miner Dacian Gold aims to extend the life of its Mt Morgans gold operations through the regional consolidation move to merge with explorer NTM Gold.

SEMAFO TAKEOVER FIRES ENDEAVOUR Q3 20 PROFIT JUMP

Gold production, profit up and heading higher as SEMAFO acquisition lifts Q3 20 profit to $59M from Q2 20’s $37M loss
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SRG GLOBAL: SPECIALIST ENGINEER BUILDS RECORD WORK-IN-HAND

 

Perth, Feb 23

Specialist engineer SRG Global has built its work in hand to a record $A1B while posting significant increases in revenue and earnings for the Dec half-year (H1FY21) and strengthening its financial position to $5.3B, from $8.4M net debt six months earlier.
H1FY21 revenue rose to $283.3M (H1FY20: $267.1M), delivering EBITDA of $20.5M ($14.1M) and attributable NPAT of $3.57M ($3.54M).
MD David Macgeorge says its disciplined focus on core business, clients and geographies place SRG in a strong position to continue momentum in H2 and deliver further growth in FY22 and beyond.
SRG announced $550M in new contract wins with repeat and targeted clients in H1FY21, plus a further $200M of new work in Jan-Feb.

SRG Global

Exchange Code: 
ASX:SRG
Website: 
http://srgglobal.com.au

Perth-based specialist mining, civil and construction contracting services and supply company  in Australia and overseas.
Sept 2018: Completed the merger of SRG Limited, TBS Group and Global Construction Services Ltf

Mining Brokers

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      DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Feb 28, 2021)

        START THE WEEK: COMMODITIES (Feb 19, 2021)

          START THE WEEK: CALENDAR (Feb 22, 2021)

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