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Mining Bulletin

The full story: In-depth news and analysis

BHP EYES COPPER AND NICKEL GROWTH TO FOLLOW OZ MINERALS TAKEOVER

Global miner’s focus turns to the integration of the OZ Minerals business to accelerate its copper and nickel operations after Q3 declines lower full year production guidance.

GENESIS MINERALS DECLARES ITSELF THE LEONORA LEADER UNDER $600M ST BARBARA DEAL

West Australian mining leader Raleigh Finlayson is close to realising the dream of consolidating ownership of the major assets in the world-class Leonora region with agreement by his Genesis Minerals to acquire the local assets of rival St Barbara. John Feary reports

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.
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Breaks - MINCOR RESOURCES: WAIVER PLEA OVER KAMBALDA SUPPLY SHORTFALL

Published: 29 May, 2023, Relevance: 1

West Australian nickel miner Mincor Resources is begging customer BHP to waive its rights to claim damages or cancel its offtake agreement over production shortfalls from its Kambalda operations.
Lower than forecast Kambalda ore deliveries, blamed on disputes over arsenic levels, contributed to BHP lowering FY23 production guidance last month at its Nickel West operation.
Despite its increasing confidence of achieving its 600,...

Breaks - STAR MINERALS: UPDATE HIGHLIGHTS TUMBLEGUM CONFIDENCE

Published: 29 May, 2023, Relevance: 1

West Australian explorer Star Minerals has underlined its confidence in the Tumblegum South gold project in WA’s Mid West region after converting 60% of its mineral resource to the indicated category.
Indicated resources now make up 27,000oz (337,000t @ 2.52g/t Au) of the updated JORC 2012 total resource of 45,000oz (616,000t @ 2.28g/t).
Star says tremendous upside remains to be investigated in ongoing feasibility studies over the...

Company - Star Minerals Limited

Published: 29 May, 2023, Relevance: 1

Perth-based company focused on exploration on gold, copper and base metal projects in Western Australia

Breaks - LEO LITHIUM: $106M GANFENG DEAL SEALS GOULAMINA FUNDING

Published: 29 May, 2023, Relevance: 1

Developer Leo Lithium has secured full funding for its share of the Goulamina first stage project in Mali through a $A106.1M transformational equity and offtake deal with JV partner Ganfeng.
The placement of 131M shares at 81cps, 67.5% above Leo’s 5-day volume-weighted average price, will result in China’s largest lithium producer holding 9.9% of the company. It will lift Leo’s pro-forma cash to $177M additional to the...

Broker - START THE WEEK: COMMODITIES (May 28, 2023)

Published: 29 May, 2023, Relevance: 1

LME ($US) 3-month closing prices, May 28 –
Copper 8,139.00
Aluminium 2,243.00
Zinc 2,338.00
Nickel 21,035.00
Lead 2,075.50
Tin 24,850.00

NASDAQ ($US) closing prices, May 26 –
Palladium 1,426.10
Platinum 1,028.10
Copper 3.682
Silver 23.36
Gold 1,944.30

NYMEX ($US) 62% Fe CFR China, market close, May 26 –
Iron ore 105.41

Broker - START THE WEEK: CALENDAR (May 29, 2023)

Published: 29 May, 2023, Relevance: 1

Holidays –
May 29: Observing Countries (Whit Monday)
May 29: Azerbaijan (Day Off for Republic Day)
May 29: Nepal (Ganatantra Diwas)
May 29: South Korea (Buddha’s Birthday)
May 29: Switzerland Regions (Pentecost Monday)
May 29: UK (Spring Bank Holiday)
May 29: USA (Memorial Day)
May 30: Croatia (Statehood Day)
May 30: Nicaragua (Mothers’ Day)
May 30: Trinidad & Tobago (Indian Arrival Day)
May 31: Brunei (Armed Forces Day)...

Breaks - PAN AFRICAN RESOURCES: ESKOM ISSUES SLASH FY23 GOLD GUIDANCE

Published: 26 May, 2023, Relevance: 1

South African miner PAF has slashed more than 20,000oz from its gold production guidance for the year to end-June, blaming slow ramp-up of continuous operations at its Barberton mines and a shortfall at Evander Mines’ underground operations on top of the industry-wide blight of Eskom power supply failures.
PAF now expects FY23 production to come in at about 175,000oz gold, down from its 195,000-205,000oz guidance.
With a late...

Breaks - RIO TINTO: PRIMERO WINS $54M WESTERN RANGE FACILITIES CONTRACT

Published: 26 May, 2023, Relevance: 1

Global iron ore major Rio Tinto has named Primero Group to design, supply, construct and commission non-process infrastructure facilities at its Western Range mine development in Western Australia’s Pilbara region.
The contract, worth about $A54M to the NRW group subsidiary, covers the refuelling, mobile equipment maintenance, primary crusher maintenance and washdown facilities, wastewater treatment...

Breaks - VISTA GOLD: NT EXTENDS MT TODD AGREEMENT

Published: 25 May, 2023, Relevance: 1

US-based explorer Vista Gold has been given more time to advance its 100%-owned Mt Todd gold project in Australia’s NT, with the territory government extending its exclusive development right to end-2029 plus a further 3-year option.
Mt Todd, 250km SE of Darwin, with its 6.98Moz reserves, has the potential to be one of Australia’s top 5 gold producers.
President-CEO Frederick H Earnest says the extended agreement reflects Vista’s...

Breaks - PREMIER AFRICAN MINS: OPTIMISATION WORK DELAYS ZULU RAMP-UP

Published: 25 May, 2023, Relevance: 1

First spodumene shipments are now scheduled next month at Premier African Minerals’ Zulu lithium and tantalum project in Zimbabwe, pending what CEO George Roach describes as limited modifications to allow it to reach design capacity.
The company now expects production of 1,376 tons SC6 concentrate in June, 1,137tpm in July and Aug, rising to 4,471tpm from Dec. Once optimisation is completed, spodumene float circuit...

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Mining Billboard

Insights and analysis from leading industry commentators

AUSTRALIA’S PILBARA AND EYRE PENINSULA WELL PLACED FOR A ‘GREEN’ STEEL BOOST

(COMMENTARY) Mining of the long-neglected magnetite iron ore could be a major beneficiary of Australian ambitions to become a global leader in the drive to achieve net zero, under a solution that would see green hydrogen plants developed next to green steelworks to boost efficiency and kickstart both industries.

DESPITE POLITICAL DIATRIBES, LIDDELL CLOSURE POINTS TO A BRIGHTER FUTURE

(COMMENTARY) The closure this month of Australia’s oldest coal-fired power station, the 52-year-old Liddell facility in New South Wales, will end one era but simultaneously lead to another in which the nation could open up new energy opportunities.

NEWCREST OFFERS CONDITIONAL COURTING RIGHTS AFTER REBUFFING SUITOR NEWMONT

(MERGERS AND ACQUISITIONS) Australian gold major Newcrest Mining has kept itself in play for more possible mergers and acquisitions discussions after rebuffing a $US16.9B second feint from Newmont Corporation and posting solid advances in the December half-year.

US GOVERNMENT BACKS IONEER PROJECT AS KEY TO CRITICAL MINERALS SUPPLY SECURITY

(DEVELOPMENT) The US government has recognised the potential value of Ioneer’s Rhyolite Ridge lithium-boron project in Nevada to the national push for security of critical minerals supply with the offer of a $700M development loan.

SAUDI MINING GIANT SEEKS MORE GROWTH THROUGH INTERNATIONAL PARTNERSHIPS

(EXPLORATION) Saudi Arabia’s majority government-owned mining company Ma’aden has unveiled three new initiatives using partnerships with international miners and the nation’s massive investment capacity to advance a new phase of domestic and international growth.

GLOBAL COAL USE REACHING ALL-TIME HIGH ... BUT INDUSTRY TRENDS POINT TO RAPID DECLINE

(COMMENTARY) The global use of coal for electricity generation will hit record levels this year, but lack of new investment in export-driven coal projects supports the expectation that peak coal has been reached and will rapidly decline in the face of global pressure on fossil fuels.
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Mining Brokers

START THE WEEK: COMMODITIES (May 28, 2023)

    START THE WEEK: CALENDAR (May 29, 2023)

      START THE WEEK: COMMODITIES (May 21, 2023)

        START THE WEEK: CALENDAR (May 22, 2023)

          START THE WEEK: COMMODITIES (May 14, 2023)

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