Search

A massive rainstorm in early March that halted production at the Capricorn Copper mine is set to cost Australian miner 29Metals heavily.
After developing a recovery plan that assumes no production from the mine 120km N of Mount Isa until about Oct 2023, 29Metals has slashed its FY2023 guidance to 7,000-9,000t copper, down from its original 19,000-23,000t, and 40,000-50,000oz silver (previously 180,000-260,000oz).
...

Australian producers of critical minerals are in line to gain priority access to American investment and markets as part of an agreement between the leaders of both countries to coordinate their policies to support the industry’s growth.
In a joint statement by US President Joe Biden and Australian PM Anthony Albanese issued after a Quad leaders' summit in Japan, Biden said he would ask US Congress to list Australia as a “domestic source” under the Defense Production...

West Australian explorer Ausgold has raised production expectations at its 100%-owned Katanning gold project after a scoping study indicated the viability of a 5Mtpa operation, up from the 3Mtpa rate assessed in its PFS last year.
The new study outlined average production of 155,000ozpa over the first six years and 136,000ozpa over 10 years, compared to the PFS figure of 105,000ozpa. It forecast pre-tax NPV at 5% of $A819M, IRR of 46%...

Australian phosphate miner Centrex has achieved a milestone for the national industry with the export of the first shipment of phosphate rock from its 100%-owned Ardmore project near Mount Isa in NW Qld.
The 15,000t shipment has gone to a substantial South Korean commercial fertiliser producer via Centrex’s exclusive market services agreement with trader Samsung C&T covering 20% of Ardmore’s production.
MD Robert Mencel says Centrex is...