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Mining Bulletin

The full story: In-depth news and analysis

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.

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.
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Breaks - RAMELIUS RES: BREAKER BID TO ESTABLISH NEW PRODUCTION CENTRE

Published: 20 Mar, 2023, Relevance: 1

Australian top 10 gold producer Ramelius Resources is seeking greater scale for its Rebecca exploration project in WA under an agreed all-scrip off-market takeover offer for explorer Breaker Resources.
Breaker’s 100%-owned Lake Roe gold project, holding mineral resources of 1.7Moz, is 100km E of Kalgoorlie and close to the 1.035Moz Rebecca project.
The Ramelius offer of 1-for-2.82 Breaker shares represents an...

Breaks - CENTRAL AFRICAN REPUBLIC: NINE DIE IN MINE ATTACK

Published: 20 Mar, 2023, Relevance: 1

Local authorities in the Central African Republic are investigating a March 19 dawn attack on a newly opened Chinese-owned gold mine near the town of Bambari in which at least nine people were killed and two more injured.
The mayor of Bambari, Abel Matchipata, confirmed the dead and wounded were all Chinese nationals, Agence France Press reports.
The gunmen reportedly overpowered the mine’s security guards before opening fire on the...

Breaks - EVOLUTION MINING: COWAL UNDERGROUND BEATS START-UP TARGET

Published: 20 Mar, 2023, Relevance: 1

Australian gold producer Evolution Mining has begun underground production three months ahead of schedule at its Cowal mine, keeping it on the pathway to lifting the NSW mine’s production from its forecast 275,000oz in the year to June 2023 to about 320,000oz in FY24.
CEO-MD Lawrie Conway says achieving the mining of the first underground stope ahead of schedule and within its $A380M budget in an inflationary market it a credit to the project team....

Breaks - MAGNETITE MINES: RAZORBACK IRON RESERVES GROW 340%

Published: 20 Mar, 2023, Relevance: 1

South Australian explorer Magnetite Mines is eyeing a 45-year mine life producing 5Mtpa at its 100%-owned Razorback project after updating its JORC-compliant probable ore reserves to 1.6Bt.
CEO Tim Dobson says Magnetite is completing mining studies on the high-grade Iron Peak deposit that will lead to more reserves growth.
The estimate by AMC Consultants assumes openpit, truck and shovel, drill and blast mining to feed the process...

Breaks - EVOLUTION ENERGY MINS: STUDIES BACK ‘STANDOUT’ CHILALO PROJECT

Published: 20 Mar, 2023, Relevance: 1

The Chilalo graphite project in Tanzania has been confirmed as a high-margin, low-capex development opportunity through front-end engineering and design and an updated DFS for 100% owner Evolution Energy Minerals.
MD Phil Hoskins says Evolution has a compelling case for financing the development-ready project after receiving multiple expressions of interest from potential financiers.
The studies outline $US120M capital cost for a...

Broker - START THE WEEK: COMMODITIES (March 19, 2023)

Published: 20 Mar, 2023, Relevance: 1

LME ($US) 3-month closing prices, Mar 19 –
Copper 8,612.00
Aluminium 2,276.35
Zinc 2,933.00
Nickel 23,580.00
Lead 2,089.00
Tin 22,700.00

NASDAQ ($US) closing prices, Mar 17 –
Palladium 1,386.10
Platinum 980.90
Copper 3.8925
Silver 22.462
Gold 1,990.20

NYMEX ($US) 62% Fe CFR China, market close, Mar 17 –
Iron ore 130.00

Broker - START THE WEEK: CALENDAR (March 20, 2023)

Published: 20 Mar, 2023, Relevance: 1

Holidays –
Mar 20: Azerbaijan, Kyrgyzstan, Tajikistan, Uzbekistan (Persian New Year)
Mar 20: Colombia (Saint Joseph’s Day)
Mar 20: Iran (Oil Nationalisation Day)
Mar 20: Mexico (Benito Juarez’s Birthday Memorial)
Mar 20: Tunisia (Independence Day)
Mar 21: Japan (Spring Equinox)
Mar 21: Namibia (Independence Day)
Mar 21: South Africa (Human Rights Day)
Mar 21: Syria (Mothers Day)
Mar 21-23: Observing Countries (Nowruz/Persian New Year...

Breaks - MINTO METALS: COPPER MINER SEEKS NEW PORT ACCESS

Published: 19 Mar, 2023, Relevance: 1

Canadian miner Minto Metals is exploring alternative logistical solutions after redevelopment work and the value of tourist dollars have cut its access to Skagway port for shipping copper-gold concentrate produced by its Minto mine in the Yukon.
Minto mine production has been trucked across the US border to the Alaskan port since 2008. With a major redevelopment under way, the local authorities have closed the ore terminal while...

Breaks - COLOMBIA: DEATH TOLL RISES AFTER MULTI-MINE BLAST – Update

Published: 19 Mar, 2023, Relevance: 1

The death toll from a series of subterranean methane gas explosions in a network of coal mining tunnels in Colombia has risen to 21, with rescue teams continuing to search for more victims.
The explosions in a rural area about 75km N of Bogota late on March 14 spread through several adjoining mines and their ventilation systems, Reuters reports.

Breaks - NEW CENTURY RES: SIBANYE $30M FOR FLOOD FINANCIAL SUPPORT

Published: 17 Mar, 2023, Relevance: 1

The prospect of a lengthy shutdown of its Century zinc mine due to intense rainstorms has forced Australian miner New Century Resources to turn to its now-controlling shareholder Sibanye-Stillwater for up to $A30M in short-term support.
The hydraulic mining operation at Lawn Hill in NW Qld has been confined to essential safety and maintenance activities for over a week due to site conditions and blocked access roads....

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Mining Billboard

Insights and analysis from leading industry commentators

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.

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.
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Mining Brokers

START THE WEEK: COMMODITIES (March 26, 2023)

    START THE WEEK: CALENDAR (March 27, 2023)

      START THE WEEK: COMMODITIES (March 19, 2023)

        START THE WEEK: CALENDAR (March 20, 2023)

          START THE WEEK: COMMODITIES (March 12, 2023)

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