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Perth Mint client holdings top $5b PERTH Mint’s client holdings has topped $5b amid share market volatility resulting from the coronavirus outbreak. The amount equates to almost 50t of fine gold and 1020t of fine silver that Perth Mint is managing for its clients. Perth Mint chief executive Richard Hayes said investors are looking to gold as a safe haven asset to protect their wealth. “We expect fears about COVID-19 and its impact on the world economy could support the price of gold into the foreseeable future,” he said. “We refine more than 90pc of Australian’s newly mined gold and in excess of 10pc of global production. “The increased demand for precious metals is welcome news for a vital sector...

Gender diversity, inclusion championed FIVE inspiring women and two outstanding companies took home coveted awards on Friday evening at the Chamber of Minerals and Energy’s 11th Women in Resources Awards (WIRA). The awards celebrate exceptional individuals and companies who champion gender diversity and inclusion within the resources sector. Fortescue Metals Group, Chevron Australia, Woodside Energy, Newmont Australia, Compass Group and BOAB (Building Opportunities for Aboriginal Business) were all represented in the top award categories. The 2020 winners are: Women in Resources Champion: Fortescue Metals Group chief executive Elizabeth Gaines Outstanding Woman in Resources: Chevron Australia aboriginal employment strategy manager Rishelle Hume Outstanding Young Woman in Resources: Woodside Energy system engineer Vanessa Bullock Outstanding Operator/Technician/Trade Woman in Resources: Newmont Australia haul...

Battery run for Perth plant ADVANCED battery materials development company Australian Mines Limited (ASX: AUZ) has commenced production runs at its Perth demonstration plant to supply battery grade nickel sulphate and cobalt sulphate crystals to potential offtake partners. Nickel sulphate and cobalt sulphate are critical materials for the production of lithium ion batteries, with the 2019 Deloitte Battery Electric Vehicles report predicting 21m electric vehicles on the road globally by 2030. Australian Mines’ focus is to secure binding offtake agreements and financing for its fully-owned Sconi cobalt-nickel-scandium project in North Queensland. Australian Mines managing director Benjamin Bell said Sconi was expected to be a low-cost, ethical source of high-grade technology metals at a time of huge demand for these commodities,...

Copper on a high COPPER has hit a three-month high on the London Metal Exchange, reaching its highest price in two months after a long run of losing sessions. The metal closed 1.9pc higher due to the fears of copper smelters in China reducing output by as much as 15pc as a result of the COVID-19 outbreak. Concerns over short supplies of refined metals spurred the higher prices, amid transport restrictions from China. China issued import quotas for another 4620t of high-grade copper scrap and 1440t of aluminium scrap for use in 2020. Aluminium on the LME also closed higher with a 1.8pc increase, as did nickel, zinc and tin, as shipment schedules continue to be upset and uncertainties abound....

Antipa in $60m farm-in deal ANTIPA Minerals (ASX: AZY) has entered into a $60m farm-in agreement and exploration joint venture agreement with gold miner Newcrest. The agreement covers the southern part of Antipa Minerals’ 100pc-owned exploration ground in the Paterson province of WA, which will now be known as the Wilki project. The Wilki project abuts Newcrest’s Telfer mine for gold and copper and its O’Callaghans deposit. Under the deal Newcrest has the option to acquire a 75pc interest in the joint venture for Wilki. Also, Newcrest has entered into an agreement with Antipa Minerals to acquire a 9.9pc shareholding in the Australian company through a $3.9m share placement. Antipa Minerals chairman Stephen Power said the agreement with Newcrest will...

THE WA Chamber of Minerals and Energy (CMEWA) will today host the first crisis meeting among WA’s biggest resource companies to coordinate a response to the risk of coronavirus affecting the State’s mine sites and regional and remote areas. The mining industry is aiming for a unified position should a worker test positive or an outbreak occur at one of the sites, without the risk of government quarantining entire camps or suspending lucrative operations. The meeting will be attended by senior representatives from the WA Department of Mines, Industry Regulation and Safety (DMIRS), industry associations and large mining companies. Other attendees include the WA Chamber of Commerce and Industry, the Association of Mining and Exploration Companies, the Australian Petroleum Production...

THE first lithium carbonate for Argosy Minerals’ Rincon project in Argentina will be shipped out later this month, marking a significant development milestone for the Australian junior miner. This is the first high quality export to come out of the project with 99.5pc lithium carbonate, adding Argosy to the small group of international lithium carbonate exporters. The first lithium batch from the plant was produced in 2018, after site work commenced in 2016, and the company is ramping up to a production level of 2000t of battery grade lithium carbonate pa. The Rincon project is located in the world class so-called “Lithium Triangle” in the Salt Province in Argentina and has a predicted life of 16.5 years. Argosy own 77pc...

THE WA Department of Mines, Industry Regulation and Safety (DMIRS) will halve the processing timeframes for exploration applications from 30 to 15 business days from July 1. The new timeframe supports the State Government’s commitment to improve regulatory efficiency through its Diversify WA Economic Development Framework and the Streamline WA initiative. This reduction in timeline also builds on the department’s strong results from its fourth quarter approvals performance reporting and its commitment to make the resources sector more efficient and effective. DMIRS director-general David Smith said 98pc of Programme of Work (PoW) applications were finalised within target timeline in the 2019 December quarter. “The Resources and Environmental Compliance Division’s efforts to improve our processes is a credit to everyone involved,”...

ONE of Australia’s previous largest single mine gold producers has restarted operations in the Murchison, WA, with plans to bring it back to its former glory. Westgold Resources (ASX: WGX) yesterday announced underground sub-level mining has recommenced at its Big Bell mine, located within the company’s Cue Gold operations. Westgold executive chairman Peter Cook said this was a major milestone for the company and paves the way for planned ramp-up in mine output, targeting steady-state production rates by the end of 2020. “Big Bell will become our largest single mine in the Murchison region and restarts with a 10-year mine life with excellent resource extension potential,” he said. The first mass cave blast broke about 103,000t at 3g/t of gold...