Author: admin

GLOBAL iron ore prices topped the US$100/t level for the first time in 10 months last week on concerns over supplies from Brazil, as the COVID-19 pandemic grows in the iron ore producing regions in the north and south of the country. The price of 62pc Fe fines delivered to northern China rose 5.4pc to US$102.39, the highest price since last August. Reuters reports that Brazilian giant Vale managed to reverse a court decision closing mines in the south (where the January 2019 mine wall tragedy happened) because of rising numbers of COVID-19 infections, and in the north where infections are also rising. Sources also claim there were hundreds of COVID-19 infections at Vale’s mines in Itabira, in the southern...

FORTESCUE Metals Group (ASX: FMG) has awarded contracts totalling $11m to a 100pc Aboriginal-owned business. Mallard Deemey Pty Ltd, jointly owned and operated by Puutu Kunti Kurrama and Pinikura (PKKP) member Donna Meyer and Yamatji member Robby Mallard, will construct and install laboratory, storage and administrative facilities at FMG’s Eliwana mine and rail project. This builds on FMG’s commitment to Aboriginal procurement, with the contracts expected to create over 100 jobs mainly in the Pilbara, Carnarvon and Perth. FMG chief executive officer Elizabeth Gaines says the company supports and invests in sustainable Aboriginal businesses. “This is the heart of our approach and ensures Aboriginal communities benefit from the growth and development of our business,” she said. “Our Billion Opportunities Aboriginal...

EMERGING lithium miner Sayona Mining has announced plans to focus its WA exploration efforts on projects within the world-class Pilgangoora lithium district, home to Earn-In partner Altura Mining Limited’s successful mining operation and other major spodumene deposits. The strategic review follows last year’s agreement in which Altura agreed to spend A$1.5m on exploration across the project portfolio over three years to earn a 51pc interest, with Sayona retaining the remaining project interest. Altura has progressed the Earn-In assets, commencing a field mapping and sampling program in the northern Mallina (E47/2983), Deep Well (E47/3829), Tabba Tabba (E45/2364) and Red Rock (E45/4716) tenements. The proximity of these tenements to Altura’s existing mining and processing infrastructure is expected to significantly enhance the development...

THE number of bids for Queensland exploration grants has more than doubled the previous round. The $2.8m grant round was brought forward as part of the Queensland Government’s multi-million-dollar COVID-19 package to support and revive State exploration. Figures from the Australian Bureau of Statistics also show exploration investment for the year to the end of March was up more than 30pc on the previous year. Queensland mines minister Dr Anthony Lynham said applications were currently being assessed for the latest round of exploration grants. “It’s clear that explorers were looking for stimulus to get through the COVID-19 storm,” he said. “The Government’s exploration stimulus package is going to help keep the pipeline of future resources projects and jobs flowing as...

GLOBAL copper demand is forecast to drop to 22.625mt this year, but bounce back 4.4pc to 23.625mt in 2021. According to the International Wrought Copper Council,  the supply side also shows a 2020 drop followed by a strong rebound in 2021. “Using publicly available information and input from the International Copper Study Group (ICSG), the supply side data shows that in 2019 copper mine production was 20.46mt,” the Council said. “In 2020, mine output is expected to decrease by 4pc to 19.65mt. “For 2021, an increase in copper mine production of 6.7pc is forecast. Refined copper production in 2019 was 23.47 million tonnes. “For 2020, refined copper production is forecast to be 22.91mt and might be 24.30mt in 2021.” The...

GLOBAL mining-tech company IMDEX expects some COVID-19 restrictions affecting its international operations to be eased during May and June, prompting mining operations to resume and drilling contractors to return to work. With 20 offices internationally, sales in 102 countries, and a presence in 70pc of mineral drilling projects globally, IMDEX and its clients have been dealing with restrictions and government declarations in multiple jurisdictions. The restrictions have not affected IMDEX’s supply chain and it has been able to service clients. Gold minor Newmont is resuming operations at its Penasquito mine in Mexico after Government ordered shutdowns ended. Mining has been designated as an essential service in the country. Mexico has also emerged from a 30-day, COVID-related shutdown, joining South Africa,...

AUSTRALIA’S national science agency CSIRO and the WA Government have teamed up to research mineralisation in the Yilgarn province, potentially unlocking new gold deposits in the area 400km east of Perth, WA. The eastern Yilgarn region has historically had fewer gold discoveries than its neighbouring, richly endowed eastern Goldfields region, despite sharing Archean geology from over 2,500 million years ago. Researchers discovered distinctive patterns in the chemical alteration of surrounding rocks during the formation of ancient gold deposits during the Archean period. Through the Minerals Research Institute of WA (MRIWA), the WA Government has invested in research to support future mineral exploration and understand chemical patterns in ancient rocks. WA mines and petroleum minister Bill Johnston said the discovery of...

LITHIUM Australia (ASX: LIT), Australian Vanadium (ASX: AVL) and private company Mercator Metals will collectively explore for nickel, copper and platinum group elements (PGE) along the Coates Mafic Intrusive Complex, 55km northeast of Perth, WA. Their tenements, which adjoin each other on the complex, have a combined area of 59sqkm and are known as the Coates project. The complex is about 29km southwest of recent significant discoveries of nickel, copper and PGE by Chalice Gold Mines (ASX: CHN) at the Julimar project. Lithium Australia managing director Adrian Griffin said Chalice’s recent significant discoveries highlighted the potential of the region. “ potential for additional discoveries in similar geological environments, and the Coates Mafic Intrusion, being so close, provides a tremendous...

MINING companies can more accurately pinpoint reserves of valuable minerals using a new water-tasting approach developed by  CSIRO. In work supported by the Minerals Research Institute of WA, CSIRO researcher Nathan Reid led a team of scientists analysing samples of groundwater from the Capricorn region in WA, where layers of sediment and weathering are believed to hide potential ore deposits from view. They discovered broad 'haloes' of altered water chemistry around known deposits of gold, uranium, and other minerals where interaction with the ore systems had left distinctive traces in the water. "Groundwater penetrates through covering sediments and interacts directly with the bedrock, dissolving trace amounts of the minerals present into solution," Dr Reid said. "By sampling those waters, our...

AUSTRALIA’S resources and energy exports are expected to reach $299b in 2019–20, before easing back in subsequent years as some of the surprising price gains of recent quarters unwind. However, the possibility remains for new records to be set if prices continue to surprise on the upside. The recent Resources and Energy Quarterly, which published an extended five-year commodity outlook, indicated a bigger picture outlook showing vast potential and a host of new opportunities as development progresses over the longer term in Asia, Africa and South America. It said Australia’s prospects as a resource and energy commodity exporter continue to remain strong, with the country tipped to become the world’s biggest producer of gold. The forecast looked beyond immediate issues...