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Ravensthorpe nickel mine in WA. ELIZABETH FABRI CANADIAN mining giant First Quantum Minerals announced plans to suspend operations at its Ravensthorpe nickel mine which struggled to remain profitable during “depressed” nickel market conditions. From early October the mine will be placed into full care and maintenance, resulting in up to 450 job losses. WA Mines and Petroleum minister Bill Johnston told The Australian Mining Review the State Government had tried to offer assistance to First Quantum to prevent its decision but unfortunately market conditions for nickel were not favourable enough for it to remain open. “The State Government reached out to First Quantum and offered assistance to prevent the decision, but we were told there was…

Image: Nick Fraser. BY ELIZABETH FABRI The Government of Tanzania has passed laws allowing it to tear up and renegotiate contracts with natural resources companies; causing widespread concern and uncertainty for the ASX-listed miners, exploration companies and service companies with interests in the East African nation. Australia-Africa Minerals & Energy Group (AAMEG) chief executive Doug Horak examines how the legislation impacts Australian miners moving forward. 1. What do you make of the new laws passed by the Tanzanian Government? Changes to the Tanzanian mining law in July have had a disruptive impact on the long-held view that the investment climate of Tanzania is an attractive one that is able to encourage foreign direct investment into its mining industry. However, at the…

The planned shutdown was the largest BHP has undertaken in South Australia.  Image: BHP. BY CAMERON DRUMMOND BHP has announced a $350 million investment to upgrade its Olympic Dam copper smelting operation. Olympic Dam asset president Jacqui McGill said the smelter maintenance campaign was the largest planned shutdown by BHP in South Australia. The smelter campaign involves a combined investment in three key areas; a rebuild of the smelter flash furnace, demolition and construction of a new electric slag furnace; and the removal and replacement of the five-story high electro static precipitator. BHP said it would also use the planned downtime to undertake further refinery asset maintenance. “There will be 1300 contractors at Olympic Dam during the peak of construction…

Image: World Bank. BY ELIZABETH FABRI DEMAND for minerals and metals is expected to see significant growth in coming years as more renewable energy projects enter construction, a new World Bank report has found. The Growing Role of Minerals and Metals for a Low-Carbon Future report looked at the types of minerals and metals expected to benefit from the development of low-carbon energy technologies, such as wind, solar, and energy storage batteries, as countries worked towards meeting their Paris Agreement targets. Minerals and metals set for demand increases included aluminium, copper, lead, lithium, manganese, nickel, silver, steel, and zinc and rare earth minerals such as indium, molybdenum, and neodymium. The form in which metal demand would increase was dependent on…

First gold pour at the reopened Henty gold mine. Image: PYBAR. BY ELIZABETH FABRI TASMANIA’s resources sector has bounced back from the sting of low commodity prices, with State mining royalties more than doubling year-on-year in FY17 and new projects and mine reopenings signalling renewed confidence for the region. State Resources minister Guy Barnett said the industry was “rebounding strongly” with mining and minerals processing accounting for 50 per cent of the value of the State’s exports. “I can also reveal as a further sign of growing confidence in the industry that $39.4 million was collected in mining royalties in 2016-17; an impressive increase on the $15 million received in 2015-16,” Mr Barnett said. The “raft of good news” was…

MMG’s Dugald mine in QLD’s North West Minerals Province. Image: MMG. BY CAMERON DRUMMOND THE QLD Government has put in place a blueprint to drive the next wave of resources development in in the State’s North West Minerals Province. QLD State Development minister Dr Anthony Lynham unveiled the blueprint on 19 July, which was created to stimulate exploration investment and identify new job-creating prospects. “The blueprint represents the combined efforts of government, industry and business stakeholders from across North West Queensland to facilitate a strong and prosperous future for this important region,” Dr Lynham said. Underpinned by $39m of funding from the recent State Budget, the blueprint is designed to build on existing measures such as the Resources Development (Royalties) Policy…