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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 - PAN AFRICAN RES: ZAR4M DEAL WRAPS UP MINTAILS PROJECT FUNDING

Published: 13 Mar, 2023, Relevance: 1

South African gold producer Pan African has finalised the funding package for its Mintails tailing project, completing a ZAR400M transaction with Rand Merchant Bank. With its senior debt tranche due to become effective this month, Pan African’s total funding package is ZAR2.5B.
The transaction covers an upfront premium for the sale of 4,846ozpm gold for 24 months, representing about 30% of annual group production.
CEO Cobus Loots...

Breaks - AERIS RESOURCES: MT COLIN MINE RESUMES AFTER FLOOD

Published: 13 Mar, 2023, Relevance: 1

Australian producer Aeris Resources has resumed operations at its Mt Colin copper operation in Queensland, five days after excessive water flows from intense rainstorms in the Mount Isa-Cloncurry region forced it to withdraw all personnel from the underground mine.
While mine production and ore haulage have restarted, Aeris says it will continue to monitor the situation in the region.

Breaks - DIATREME RESOURCES: FNQ SILICA SAND RESOURCE GROWS

Published: 13 Mar, 2023, Relevance: 1

Australian silica sands developer Diatreme Resources has posted an 89% increase in resources at the Si2 deposit as it advances a scoping study into the development of a high-grade mining operation in Far North Queensland.
Si2, the major project within Diatreme’s resources, now holds JORC indicated and inferred resources of 235Mt @ 99.29% SiO2. The indicated resource has grown to 132Mt @ 99.27%.
Diatreme’s resource base now exceeds 310Mt across its...

Breaks - EVOLUTION MIN: RAINS FORCES EXTENDED ERNEST HENRY SHUTDOWN

Published: 13 Mar, 2023, Relevance: 1

Australian producer Evolution Mining’s Ernest Henry copper-gold operation in N Qld is facing an extended shutdown of mining activity due to flooding of the underground mine workings in a regional rainstorm on March 8.
Evolution says all workers were removed safely after the water incursion at the mine, 38km NE of Cloncurry.
It says mine teams examined the workings once they could enter safely and have begun developing a recovery...

Breaks - AUSTRAL GOLD: DIRECTORS $1M LOAN FOR CHILE PROJECT

Published: 13 Mar, 2023, Relevance: 1

South American-focused miner Austral Gold has raised $US1M to support the start of heap reprocessing at its 100%-owned Guanaco and Amancaya mine complex in Chile through an unsecured short-term loan from directors Eduardo Elsztain and Saul Zang.
Austral says construction activities for the heaps project started in January, with production to commence in June and forecast 2023 output of 11,000-11,500oz gold equivalent. Total capex for the project is...

Breaks - AUSTRAL RESOURCES AUST: LADY ANNIE RESUMES AFTER RAINSTORMS

Published: 13 Mar, 2023, Relevance: 1

Australian copper producer Austral Resources has resumed mining and drill and blast activities at its Lady Annie project in Queensland's Mount Isa region after a brief shutdown due to significant rainfall disrupting mine access.
Austral says 134t copper cathode was dispatched over the weekend and deliveries of consumables to site resumed.
The company says dilution of the pregnant leach solution will have a minor short-term effect on production, but...

Breaks - BOAB METALS: SORBY HILLS PLANT DESIGN WORK STARTS

Published: 13 Mar, 2023, Relevance: 1

West Australian explorer Boab Metals is advancing its flagship Sorby Hills lead-silver-zinc project, with engineering company GRES commencing work on the process plant and associated infrastructure for the Kimberley region project.
The engineering services work, which includes tendering and early procurement, will be followed by full detailed design under an EPC contract, subject to a final investment decision.
On-...

Breaks - WESTERN GOLD RES: TALKS SEARCH GOLD DUKE PLANT OPTIONS

Published: 13 Mar, 2023, Relevance: 1

Australian explorer WGR has begun discussions with nearby plants as it investigates treatment options for its brownfields 100%-owned Gold Duke project near Wiluna in WA’s Mid West region.
The talks with the owners of all existing plants within an economic distance of the JORC-compliant 293,000oz (4.57Mt @ 2g/t) gold resource will proceed alongside assessment work by BHM Process Consultants into the heap leach potential...

Breaks - QMINES: TENEMENT DEAL TIGHTENS MT CHALMERS FOCUS

Published: 13 Mar, 2023, Relevance: 1

Australian explorer QMines will tighten its focus on growing and developing the historic Mt Chalmers copper-gold mine at Rockhampton in N Qld after agreeing to divest a parcel of non-core gold and base metal exploration projects in the SE of the state.
QML has reached an exclusive option agreement enabling Queensland Critical Minerals to acquire the Silverwood, Warroo and Herries Range projects for $A0....

Broker - START THE WEEK: CALENDAR (March 13, 2023)

Published: 13 Mar, 2023, Relevance: 1

Holidays –
Mar 13: Canada (Commonwealth Day)
Mar 13: Zambia (Day Off for Youth Day)
Mar 14: Albania (Summar Day)
Mar 14: Andorra (Constitution Day)
Mar 15: Hungary (1848 Revolution Memorial Day)
Mar 15: Liberia (JJ Roberts Birthday)
Mar 15: Palau (Youth Day)
Mar 17: Bangladesh (Sheikh Mujibur Rahman’s Birthday)
Mar 17: Ireland, Observing Countries (St Patrick’s Day)
Mar 19: Observing Countries (Fathers Day)
Mar 19:...

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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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