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Mining Bulletin

The full story: In-depth news and analysis

IGO’s BIG START TO FY2021 UNDERPINNED BY $45.4M PROFIT

With the major indicators up, IGO has set a solid $45.5M profit platform for the rest of FY21. By Mark Mentiplay

CARABELLA’S 73Mt BLUFF COAL MINE BEING MOTHBALLED

With the coal price below economic levels and uncertainty over Chinese coal imports, the Chinese-owned Bluff Coal Project is moving to care & maintenance. By Mark Mentiplay

100-YEAR LIFE POTENTIAL OUTLINED FOR HORIZON MINERALS’ RICHMOND VANADIUM PROJECT

Joint venture partners Horizon Minerals and Richmond Vanadium Technology are turning their attention to the costs and timing of a definitive feasibility study for their Richmond-Julia Creek vanadium project in NW Queensland, Australia.

FREEPORT-MCMORAN RECOVERS TO $329M Q3 20 PROFIT

All commodities up for Q3 20, lifting Freeport McMoRan net income $276M to $329M

WA IRON ORE MINERS SHAPE UP FOR LEGAL BATTLE OVER WONMUNNA DEVELOPMENT

Two of the most powerful men in the Western Australian mining sector, Fortescue’s Andrew Forrest and Mineral Resources’ Chris Ellison, are on opposite sites of the looming legal fight over plans by Ellison’s company to develop its newly acquired Wonmunna iron ore development in the Pilbara region.

COVID-19 CONTINUES TO HURT ANTOFAGASTA WITH Q3 COPPER-GOLD OUTPUT DOWN

Chilean copper-gold miner Antofagasta is still feeling the fallout from COVID-19, with molybdenum holding out to lift Q3 20 production.

HOCHSCHILD EMERGES FROM COVID-19 WITH Q3 20 GOLD-SILVER PRODN DOUBLED

Gold-silver miner Hochschild is successfully battling COVID-19 restraints that have hit all 3 of its operation, with gold-silver output doubling

St BARBARA Q1 21 GOLD PRODN PLUNGES TO 73,000oz

A combination of negatives have hit St Barbara’s 3-mine Q1 21 operations, pushing production down to 72,990oz from Q4 20’s 108,612oz

UPGRADED PFS UNDERPINS $4.8B CASHFLOW FROM LIONTOWN’S WA LITHIUM-TANTALUM PROJ

Big upgrade for Liontown Resources’ Kathleen Valley lithium-tantalum project, flagged for 1st production in Q1 2025

WA LEADERS NORTHERN STAR AND SARACEN AGREE MERGER TO CREATE NEW GLOBAL TOP 10 MINER

‘Merger of equals’ between dominant West Australian miners Northern Star Resources and Saracen Mineral Holdings will create a global Top 10 gold producer with a portfolio of producing and prospective projects in Tier 1 Australian and North American jurisdictions and compelling synergies and growth opportunities.

AuSTAR GOLD PROMISES CAUTIOUS CORPORATE STRATEGY AFTER FAILED CENTENNIAL MINING BID

Australian gold miner AuStar has significantly narrowed its full year FY20 net loss despite the extra costs of its ultimately withdrawn attempt to build on its Victorian gold portfolio through a merger with the under-administration Centennial Mining.

CLEVELAND-CLIFFS BUYING ARCELORMITTAL US OPERATIONS FOR $1.4B

Cleveland Cliffs to become N America’s largest flat-rolled steel and iron pellet producer with the $1.4M acquisition of ArcelorMittal’s US operations

AUSTRALIAN RES EARNINGS WEATHER FY20 COVD-19, FY21/22 EXPECTATIONS HIGH

Following record $290B resources/energy earnings in FY20, the Australian Govt is flagging another strong 2-years ahead

WA GOVT MINERAL/PETROLEUM FY20 SALES RECORDS

Record $22B increase in FY20 Western Australia resources sector sales to $172B

RED 5 HEADING FOR MID-TIER GOLD STATUS ON FY 20 $4.5M PROFIT

Despite a fall in FY 20 gold production, Red-5 is heading for mid-tier production status on the back of a $7.53 turnaround to a $4.5M profit. By Mark Mentiplay

GRUYERE PROJECT PARTNERS TRIM PRODUCTION GUIDANCE AFTER MILL BREAKDOWN

Gruyere gold mine partners Gold Fields and Gold Road Resources have trimmed production guidance after the failure of a ball mill motor bearing brought an end to a strong first year of operations at the West Australian mine. John Feary reports

MINCOR TARGETS KAMBALDA NICKEL REVIVAL TO MEET GLOBAL ENERGY DEMAND GROWTH

Australian nickel specialist Mincor Resources is promising an exciting ride for Western Australia’s renowned Kambalda nickel province following board approval to end a five-year shutdown and redevelopment of its Kambalda Nickel Operations.

CALIDUS EARLY WORKS START ADVANCES WARRAWOONA GOLD PROJECT

West Australian developer Calidus Resources has named preferred contractors Macmahon (opencut mining and civil) and GR Engineering (process plant) as it begins construction work ahead of schedule on its Warrawoona gold project in the East Pilbara.

PARAMOUNT FS FLAGS OREGON’S 1st GOLD MINE

New study backs Oregon’s 1st gold mine, Paramount Gold’s $130M underground operation producing 362,000oz gold/425,000oz silver over an initial 8-year LoM

RED 5 TARGETS EARLY 2021 CONSTRUCTION START AFTER POSITIVE KING OF THE HILLS STUDY

Three years after the Philippines government’s anti-mining policies forced it to leave its Siana gold mine, completion of a strong feasibility study at King of the Hills sets Red 5 on track to become a significant mid-tier Australian gold producer. John Feary reports
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START THE WEEK: COMMODITIES (Oct 23, 2020)

LME ($US), Oct 23 –
Aluminium 1,829.00
Copper 6,879.50
Zinc 2,565.50
Nickel 15,768.00
Lead 1,792.50
Tin 18,530.00
Cobalt 32,985.00
Gold 1,903.20
Silver 24.600

COMEX ($US), Oct 23 –
Gold 1,905.20
Silver 24.675
Copper 3.129
Platinum 906.70
Palladium 2,398.60

LBMA price data ($US), pm Oct 23 –
Gold 1,903.650
Silver 24.760
Platinum 917.000
Palladium 2,394.000

NYMEX ($US) 62% Fe CFR China, Oct 23 –
Iron ore 121.02

START THE WEEK: CALENDAR (Oct 26, 2020)

Companies -
Oct 27: Northern Star Resources 1/4, Perth (Australia)
Oct 28: Galaxy Resources 1/4, Perth (Australia)
Oct 29: South32 1/4, Perth (Australia)
Oct 29: Fortescue Metals Group 1/4, Perth (Australia)
Oct 30: OceanaGold Q3, Melbourne (Australia)

DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Oct 25, 2020)

Keep track of how the global COVID-19 coronavirus pandemic is impacting the global resource sector around the world.
(Note: Some articles will be accessible only by full subscribers.)

START THE WEEK: COMMODITIES (Oct 16, 2020)

LME ($US), Oct 16 –
Aluminium 1,865.50
Copper 6,728.00
Zinc 2,417.00
Nickel 15,603.00
Lead 1,756.50
Tin 18,390.00
Cobalt 33,000.00
Gold 1,903.50
Silver 24.265

COMEX ($US), Oct 16 –
Gold 1,906.40
Silver 24.405
Copper 3.0675
Platinum 869.3
Palladium 2,342.3

LBMA price data ($US), pm Oct 16 –
Gold 1,905.050
Silver 24.360
Platinum 870.000
Palladium 2,331.000

NYMEX ($US) 62% Fe CFR China, Oct 16 –
Iron ore 121.44

START THE WEEK: CALENDAR (Oct 20, 2020)

Companies -
Oct 20: BHP Q1, Melbourne (Australia)
Oct 20: Perseus Mining 1/4, Perth (Australia)
Oct 21: Lynas 1/4, Sydney (Australia)
Oct 23: Regis Resources 1/4, Perth (Australia)
Oct 23: Gold Road 1/4, Perth (Australia)

DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Oct 18, 2020)

Keep track of how the global COVID-19 coronavirus pandemic is impacting the global resource sector around the world.
(Note: Some articles will be accessible only by full subscribers.)

START THE WEEK: COMMODITIES (Oct 9, 2020)

LME ($US), Oct 9 –
Aluminium 1,805.50
Copper 6,740.50
Zinc 2,415.50
Nickel 14,990.00
Lead 1,779.50
Tin 18,210.00
Cobalt 33,500.00
Gold 1,920.60
Silver 24.840

COMEX ($US), Oct 9 –
Gold 1,926.20
Silver 25.108
Copper 3.0825
Platinum 893.4
Palladium 2,463.2

LBMA price data ($US), pm Oct 9 –
Gold 1,923.250
Silver 24.315
Platinum 892.000
Palladium 2,450.000

NYMEX ($US) 62% Fe CFR China, Oct 9 –
Iron ore 123.49

START THE WEEK: CALENDAR (Oct 12, 2020)

Conferences -
Oct 12-14: Diggers & Dealers, Kalgoorlie (Australia)

DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Oct 11, 2020)

Keep track of how the global COVID-19 coronavirus pandemic is impacting the global resource sector around the world.
(Note: Some articles will be accessible only by full subscribers.)

START THE WEEK: COMMODITIES (Oct 2, 2020)

LME ($US), Oct 2 –
Aluminium 1,705.00
Copper 6,409.50
Zinc 2,302.00
Nickel 14,271.00
Lead 1,763.00
Tin 17,545.00
Cobalt 33,925.00
Gold 1,902.80
Silver 23.905

COMEX ($US), Oct 2 –
Gold 1,907.60
Silver 24.029
Copper 2.9775
Platinum 891.4
Palladium 2,325

LBMA price data ($US), pm Oct 2 –
Gold 1,903.05
Silver 23.865
Platinum 891.000
Palladium 2,312.000

NYMEX ($US) 62% Fe CFR China, Oct 2 –
Iron ore 120.60

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Mining Billboard

Insights and analysis from leading industry commentators

RISK-AVERSE PUNTERS PROMPT £3B BID TO PRIVATISE KAZAKHSTAN COPPER GIANT

(INVESTMENT) “We remain confident that the execution of a higher risk, capital intensive strategy remains the optimal long term path for KAZ Minerals, but we recognise that our risk appetite may be misaligned with the preference of many investors in the mining sector” - chairman Oleg Novachuk.

AUSTRALIAN HERITAGE DESTRUCTION UPROAR DRIVES MINERS TOWARDS STRONG FOCUS ON ESG

(CORPORATE) Continuing uproar over the destruction of priceless heritage sites by iron ore giant Rio Tinto underlines the growing pressure on mining companies to focus on their environmental, social and governance responsibilities.

POSITIVE ‘DIGGERS’ FORUM DEMONSTRATES THERE REALLY IS GOLD IN THEM THAR WA HILLS

Despite the disruptions and restrictions resulting from the world-wide COVID-19 pandemic, the 29th staging of Australia’s leading mining conference has ended in an atmosphere of overwhelming confidence in the mining sector.

AUSTRALIAN ‘DIGGERS’ FORUM OPENS WITH CONFIDENCE THAT DISPELS COVID PANDEMIC GLOOM

(CONFERENCES) As some predicted, the opening of Australia’s major mining conference, the Diggers & Dealers Forum, in Kalgoorlie today has shrugged off much of the gloom about the global COVID-19 pandemic and economic risk to focus instead on the sector’s emerging key role in economic recovery. Veteran mining commentator Ross Louthean reports

KAISER REEF TARGETS IMMEDIATE PRODUCTION AND GROWTH POTENTIAL OF VICTORIAN ASSETS

(CORPORATE) Kaiser Reef steps up to the challenge of wresting value from the Victorian assets of under-administration company Centennial Mining with the signing of a conditional $16M option deal with special purpose vehicle Golden River Resources.

IEA DEMANDS MORE PACE AS GLOBAL MOMENTUM BUILDS FOR CARBON CAPTURE TECHNOLOGIES

(ENVIRONMENTAL) The accelerating pace of development proposals implementing carbon capture, use and storage technologies has been highlighted in a new report by the International Energy Agency, but more must be done by governments and industry to meet global targets for countering global warming and ocean acidification.
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Mining Brokers

START THE WEEK: COMMODITIES (Oct 23, 2020)

    START THE WEEK: CALENDAR (Oct 26, 2020)

      DATADIGGING: TRACKING THE GLOBAL RESOURCES SECTOR IMPACT OF COVID-19 (Oct 25, 2020)

        START THE WEEK: COMMODITIES (Oct 16, 2020)

          START THE WEEK: CALENDAR (Oct 20, 2020)

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