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Mineral Resources (MRL) has lifted stake in the Mt Marion Lithium Project in Western Australia’s Goldfields from 43.1% to 50% via a $A52M acquisition from Neometals.
Late last year, MRL and partner Ganfeng Lithium executed a sale agreement with Neometals, for the pair to jointly and equally acquire Neometals’ 13.8% of Mt Marion for an aggregate $103.8M.
West Australian explorer Fenix has begun preliminary openpit planning and geotechnical work after upgrading total mineral resources to 9.2Mt @ 64.1% Fe, 3.36% SiO2, 2.66% Al2O3 and 0.045% P at its flagship Iron Ridge project in the MidWest region.
The estimate, at 58% Fe cutoff, includes a maiden indicated 6.6Mt @ 64.5 Fe, 3.14% SiO2, 2.51% Al2O3 and 0.042% P at the greenfield site 600km NE of Perth.
Exec director Rob Brierley says the grades may...
Gold miner Mincor Resources has flagged a fast tracked return to nickel production from its Kambalda, Western Australia, operations with an initial deal to process up to 600,000tpa of nickel sulphide ore at BHP Billiton Nickel West‘s Kambalda Nickel Concentrator.
Key commercial parameters include a 5-year contract starting from 1st ore delivery and concluding on the 5th anniversary or Dec 31 2025, with...
Gold miner Mincor Resources has flagged a fast tracked return to nickel production from its Kambalda, Western Australia, operations with an initial deal to process up to 600,000tpa of nickel sulphide ore at BHP Billiton Nickel West‘s Kambalda Nickel Concentrator.
The largely confidential term sheet sets the major operating principles that will form the basis for a binding ore tolling/concentrate...
Stronger thermal coal prices and increased production from the Bengalla mine have helped Australian miner New Hope lift profit after tax for the half-year to end-Jan (H1FY19) to $A159.8M (H1FY18: $120.3M). Consolidated attributable profit after non-regular items was $120.2M ($115.6M).
Revenue rose to $616.7M ($509.3M).
New Hope expects its transition to active management after increasing to 80% ownership of the Bengalla operations...
UK battery metals specialist Strategic Minerals will take full ownership of the Redmoor tin-tungsten project in Cornwall after reaching agreement to buy the 50% shareholding of New Age Exploration for up to £2.66M in cash and royalties.
SML says having 100% control will enable it to set development timing at Redmoor, where it recently increased inferred resources to 137,000t SnEq (11.7Mt @ 1.17%).
For Australian-...
Kalium Lakes is on schedule for production from Australia’s first sulphate of potash project in 2020 after agreeing non-binding terms with German international project and export financier KfW IPEX-Bank on $A102M senior project funding.
KLL says the 10-year facility carries more attractive terms than traditional project financing. Its application for German export credit guarantees on significant parts of the funding is...
Construction partner Çiftay İnsaat Tahhüt ve Ticaret will also become a stakeholder under a deal to assist Chaarat Gold’s funding of the Tulkubash and Kyzyltash gold projects in the Kyrgyz Republic.
Under a binding term sheet, Turkish mining and mine construction contractor Çiftay will progressively invest $US31.5M for a 12.5% equity stake in the projects.
Chaarat aims to finalise debt funding for the remainder of...
Australian-based Infinity Lithium considers it is better positioned to attract strategic investment in its San Jose lithium-tin project in Spain’s Extremadura region after lifting its stake in the project from 50% to 75%.
Local partner Valoriza Mineria will hold 25% interest plus €1M reimbursement for expenditure to mid-2020 while remaining preferred contractor.
CEO-MD Ryan Parkin says the change supports its...
Nearly 3 years after Thailand’s military junta forced it off its Chatree gold mine, Australian-based Kingsgate has won an $A82M payout from its insurers.
The settlement of Kingsgate’s $US200M political risk policy claim comprises $US55M cash plus up to $3.5M for costs of its arbitration action against the Thai government.
Kingsgate and the insurers will share future proceeds if the arbitration case citing the Thailand-Australia...