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Sirius Minerals is going back to the drawing board on its planning for a massive potash mining project in northern England after abandoning a $US500M senior secured notes offering that was to have been a key part of the project’s financing.
The decision, blamed by the company on “market conditions”, comes as Sirius found the UK government had also backed away from a commitment that would have enabled the issue of up to $1B of guaranteed...
UK potash project developer Sirius Minerals has been forced to slow activities at its North Yorkshire polyhalite project after pulling out of a planned $US500M senior secured notes offering that was a key to its financing plans.
Sirius says it’s concluded the offering can’t be successfully completed in the current market conditions.
The slowdown will allow the company to conserve funding while it takes up to 6 months to assess and incorporate...
West Australian explorer A-Cap plans to fast-track the PFS on its Wilconi nickel-cobalt project in Wiluna after upgrading its JORC inferred resource to 78.8Mt @ 0.74% for 585,000t Ni and 0.07% for 53,000t Co.
Chairman Angang Sheng says the independent update by Mining Plus greatly strengthened belief in the robust Wilconi resources, allowing A-Cap to focus on its special attributes and by fine-tune its metallurgical...
Uranium miner Peninsula Energy is mulling new debt initiatives after a likely $US20-30M non-cash impairment on the value of its Lance Projects assets brought it close to default on its major convertible note debt facilities.
The company says the impairment charge in the FY19 accounts tracks the value of the Wyoming, USA project as it transitions to low pH operations.
While a non-cash item, it may leave Peninsula unable to maintain...
VRX Silica has scored again with a positive BFS and maiden probable ore reserve for its $A25.8M capex, 2Mtpa, initial 25-year LoM Arrowsmith Central Silica Sand Project in Western Australia.
The study on the project, 270km N of Perth, comes on the heels of and complements, the nearby, larger $A28.26M capex Arrowsmith North Silica Sand Project BFS.
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VRX Silica has scored again with a positive BFS and maiden probable ore reserve for its $A25.8M capex, 2Mtpa, initial 25-year LoM Arrowsmith Central Silica Sand Project in Western Australia.
The study on the project, 270km N of Perth, comes on the heels of and complements, the nearby, larger $A28.26M capex Arrowsmith North Silica Sand Project BFS.
The new study ascribes Arrowsmith Central an ungeared NPV10% of $147.6M, based on 25-...
Australian-based Sayona Mining has put its hand up as a potential bidder after the Quebec Supreme Court in Canada approved an asset sale process for North American Lithium’s shuttered mine and concentrator near Val d’Or.
If successful, Sayona says it will seek to integrate the NAL project with its advanced Authier project nearby.
NAL produced around 114,000t spodumene in 2018 prior to its shutdown in Feb 2019.
The sale process...
Five years after the end of a construction and investment boom that saw demand for skilled workers reach unprecedented levels, it seems the Australian mining sector is facing another potential crisis is securing the talents needed to sustain its next cycle of growth.
While the Australian Mines and Metals Association is not predicting the rollercoaster ride the sector experienced in the hectic investment and construction boom that ended in 2012, it warns that...
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The Australian mining sector will need to find nearly 21,000 new workers within the next five years as it faces the strongest growth in project development since the investment and construction boom of 2005-12, the Australian Resources and Energy Group AMMA has warned.
Chief executive Steve Knott says securing the skilled workers to support project growth will be a significant challenge.
“We must avoid a scenario where nationally significant mining projects are...