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Mining Bulletin

The full story: In-depth news and analysis

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.

HARMONY GOLD BUILDS COPPER STRATEGY IN $230M AUSTRALIAN PROJECT BUY

South African-based Harmony Gold Mining reached agreement on the $230M acquisition of the Eva copper-gold project from Canadian owner Copper Mountain Mining, diversifying its commodity range and risk profile.

NEW TALISMAN MINES PREPARES TO REACH THE LIGHT AT THE END OF ITS TUNNEL

New Talisman Goldmines holds meetings with a range of industry specialists as it moves into detailed preparations for its strategic plan to produce gold from its NZ mine in 2023.
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Breaks - NORILSK NICKEL: RUSSIAN MINER HAILS ANTI-SANCTIONS SUCCESS

Published: 24 Jan, 2023, Relevance: 1

Russian mining giant Norilsk Nickel has trumpeted its success in changing its logistics and procurement channels for minimising the negative impacts on its operations of western world sanctions following the military attack on Ukraine.
Nornickel says it began receiving equipment and spare parts from new suppliers in Russia and “friendly countries” in the Dec qtr despite what it describes as changes in the geopolitical situation.
It credits the...

Breaks - EVOLUTION MINING: Q2 ADVANCE KEEPS MINER ON FY TARGET

Published: 24 Jan, 2023, Relevance: 1

Improved Dec qtr (Q2FY23) performance in which Australian international miner Evolution lifted its production to 166,404oz gold (Q1: 161,098oz) and 15,483t copper (14,469t) has kept it on track for its full year guidance. AISC also improved to $A1,099/oz ($1,513/oz).
The company notes it is still reliant on improved H2 performance to achieve its unchanged FY23 guidance of 720,000oz at $1,240/oz.
CEO-MD Lawrie...

Breaks - 29METALS: STRONG FINISH KEEPS MINER ON TRACK

Published: 24 Jan, 2023, Relevance: 1

A strong final quarter against a challenging backdrop has resulted in Australian miner 29Metals meeting or exceeding guidance for production, costs and capital across its commodity range for FY2022.
The company’s copper equivalent production rose to 73,400t (FY2021: 68,200t) at AISC of $US3.64/lb Cu ($3.16/t) comprising 40,800t copper (40,700t), 57,600t zinc (47,800t), 26,600oz gold (35,800oz) and 1....

Breaks - SANDFIRE RESOURCES: GROUND ISSUES CUT Q2 COPPER OUTPUT

Published: 24 Jan, 2023, Relevance: 1

Changes in the mine plan at its MATSA operations in Spain forced by poor ground conditions in the main production areas at the Magdalena mine has lowered Sandfire Resources’ Dec qtr (Q2FY23) copper production, with impacts for its FY23 guidance.
Q2 group production of 20,031t copper (Q1: 28,056t), 19,755t zinc (19,535t)., 1,921t lead (2,477t), 4,562oz gold (8,215oz) and 0.6Moz ...

Breaks - BASE RESOURCES: SOUTH DUNE HIGHER GRADES LIFT Q2

Published: 24 Jan, 2023, Relevance: 1

The mining of higher-grade blocks on Base Resources’ South Dune at its Kwale mineral sands project in Kenya has lifted Dec qtr (Q2FY23) production of heavy mineral concentrate by 3%.
Production was 84,500t (Q1: 86,000t) ilmenite, 19,500t (18,900t) rutile, 7,400t (6,600t) zircon and 5,200t (5,700t) low-grade products.
With lower-grade North Dune mining commencing in the March qtr, concurrently with South Dune operations, Base...

Breaks - RED 5: KOTH ADVANCE LIFTS Q2 OUTPUT

Published: 24 Jan, 2023, Relevance: 1

The achievement of steady-state commercial production at its King of the Hills operations has lifted Dec qtr (Q2FY23) gold production by West Australian miner Red 5 to 36,260oz, up from 24,049oz in the previous period. Red 5 will report AISC for KOTH from the March qtr.
Forecast H2FY2023 production is 90,000-105,000oz at AISC of $A1,750-1,950/oz.
MD Mark Williams says mining has reached the main contact zone between the...

Breaks - PERSEUS MINING: WEST AFRICAN MINES HIT HALF-YEAR TARGETS

Published: 24 Jan, 2023, Relevance: 1

Australian producer Perseus Mining has continued the strong performance at its trio of West African mines with above-guidance Dec half-year (H1FY23) gold recovery of 268,371oz, up from 241,164oz a year earlier. AISC also improved to $US930/oz (H1FY22: $934/oz).
Gold sales of 261,921oz (238,136oz) at $1,724/oz ($1,663/oz) resulted in notional cashflow of $213M ($171.8M).
Production came from Yaouré in Côte d’Ivoire...

Breaks - ENDEAVOUR MINING: WEST AFRICAN MAJOR HITS TARGET AGAIN

Published: 23 Jan, 2023, Relevance: 1

West African producer Endeavour Mining has achieved its 10th consecutive year of achieving or beating guidance, producing 1.4Moz gold at AISC of about $US928/oz for FY2022.
The result compares with 1.436Moz at $882/oz a year earlier and its guidance of 1.32-1.4Moz at $880-930/oz.
President-CEO Sebastien de Montessus says its strong production performance and optimisation initiatives kept its costs on guidance despite the industry-wide inflationary...

Breaks - GREENROC MINING: UPGRADE CONFIRMS AMITSOQ PROJECT SCALE

Published: 23 Jan, 2023, Relevance: 1

Greenland-focused explorer GreenRoc Mining has confirmed its Amitsoq graphite project as one of the world’s highest-grade deposits, posting a total inferred, indicated and measured JORC resource of 23.05Mt @ 20.41% TGC for 4.71Mt graphite.
The new figure is almost three times higher than its 2022 maiden estimate, and includes a third in the measured and indicated categories.
The deposit remains open along strike, predominantly to...

Company - GreenRoc Mining plc

Published: 23 Jan, 2023, Relevance: 1

London-based company holding several 100%-owned projects in critical, high-demand and high-value minerals in Greenland

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Insights and analysis from leading industry commentators

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.

THE YOUNG AUSTRALIANS WHO WON A HUMAN RIGHTS CASE AGAINST AN ENORMOUS COAL MINE

(COMMENTARY) A Queensland special court has made legal history by recommending refusal of a coal mine development on climate change grounds, in the first case in Australia that links human rights and climate change.

AUSTRALIAN COURT SETS NEW ‘RIGHTS’ STANDARD TO BLOCK PALMER'S THERMAL COAL MINE

(ENVIRONMENTAL) Australian natural resources court adopts climate change and human rights arguments to oppose giant thermal coal mine development.

ABB ENLISTS PERENTI FOR MINING ELECTRIFICATION PUSH TOWARDS NET ZERO EMISSIONS

(SUSTAINABILITY) Global power and automation technology company ABB has added mining services group Perenti to its list of partnerships aiming to promote electrification of mine haulage operations and other decarbonisation strategies for the resources sector.
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