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MMG: Global ambition

MMG: Global ambition

Mining at Kinsevere in the Democratic Republic of Congo. By Cameron Drummond AFTER the record breaking purchase of the Las Bambas copper project in Peru, MMG has had a reasonably quiet 18 months consolidating and improving existing projects. MMG Limited is a Chinese-owned (China Minmetals 74 per cent) mining consortium listed on the Hong Kong Stock Exchange and ASX with copper, zinc and other base metal projects across four continents. MMG aims to become one of the top mid-tier miners by 2020 by investing in significant exploration and development projects such as the Las Bambas copper operation in Peru, aquired from Swiss-based miner Glencore for $US5.85 billion in 2014. The company also owns the Sepon and Kinsevere copper mines in Southern…

Doray’s Allan Kelly in shock resignation

Doray’s Allan Kelly in shock resignation

Mines and Petroleum minister Sean L’Estrange with now former Doray managing director Allan Kelly. Image: Doray Minerals. By Cameron Drummond DORAY minerals founder and managing director Allan Kelly has resigned ahead of the company’s annual general meeting on 28 November. Doray announced that Mr Kelly resigned due to personal reasons, with non-executive director Leigh Junk assuming the role until a formal replacement was found. Just one month earlier Mr Kelly was joined by Mines and Petroleum minister Sean L’Estrange at the official opening of Doray’s Deflector gold mine 160km east of Geraldton; the second high-grade gold project the company had commissioned in four years. Mr Kelly managed the company for seven and a half years of successes, including its listing…

QLD to host World Mining Congress

QLD to host World Mining Congress

Brisbane Convention & Exhibition Centre has been selected to host the four day conference. Image: BCEC By Elizabeth Fabri BRISBANE has secured a bid to host one of the world’s largest international mining events, which is expected to attract more than 2000 delegates from 40 countries. The 26th World Mining Congress (WMC), held at the Brisbane Convention & Exhibition Centre (BCEC) in July 2021 over four days, would put a spotlight on Australia’s innovation leadership in the mining sector. Led by CSIRO in partnership with the Australian Institute of Mining and Metallurgy (AusIMM), the conference was expected to generate $5 million in economic benefits to the State. CSIRO energy research director for coal mining Dr Hua Guo said mining innovation was…

Altura teams up with Chinese battery maker

Altura teams up with Chinese battery maker

Image: Altura Mining. By Cameron Drummond LITHIUM explorer Altura Mining has reached an agreement with Chinese battery manufacturer Shaanxi J&R Optimum Energy (J&R Optimum) to raise $41.6 million for its Pilgangoora lithium project in the Pilbara region of WA. In two tranches, Altura will issue a placement of 306 million fully paid shares to J&R Optimum at 13.6 cents per share, an 8.8 per cent premium from the last closing price. In Tranche 1, 123 million shares would be issued after the receipt of funds ($16.73m) from J&R Optimum within 30 days; and Tranche 2 would issue the remaining 183 million shares ($24.89m) pending shareholder approval at an upcoming EGM (Extraordinary General Meeting). Upon completion of the placement, J&R Optimum…

Luxembourg invests in asteroid mining

Luxembourg invests in asteroid mining

The Arkyd 6 satellite is set to launch before the end of the year to test increased capabilities of asteroid mining technologies. Image: Planetary Resources. By Cameron Drummond BUDDING asteroid miner Planetary Resources has secured 25 million euro of funding from the Luxembourg Government to aid its goal of launching the first ever commercial asteroid prospecting mission by 2020. The agreement consists of a direct capital investment of 12m euro from the Government of the Grand Duchy of Luxembourg and a further 13m euro in grants from the country’s public-law banking institution Société Nationale de Crédit et d’Investissement (SNCI). The small but wealthy European nation already has a long-standing space industry dating back to 1985, having played a significant role…

Glencore reopens Integra coal mine

Glencore reopens Integra coal mine

Glencore has scrambled to boost its Australian coal production on the back of soaring coal prices this year. Image: Duncan Harris. By Cameron Drummond MINING giant Glencore has announced plans to restart mining at the Integra underground coal operation in the NSW Upper Hunter Valley for two years, potentially creating up to 275 new jobs. It was the second time in as many months Glencore had decided to kick-start a shuttered coal mine, following an October announcement that it would reopen its Collinsville coal mine after halting production in December last year. Glencore acquired Integra (formerly Glennies Creek) last year from Brazilian miner Vale with the mine already on care and maintenance since July 2014. Glencore Australia head of coal…

Carrapateena project rolls on with key milestones

Carrapateena project rolls on with key milestones

The Carrapateena Tjati Decline schematic. image: OZ Minerals. By Reuben Adams OZ Minerals’ proposed $975 million Carrapateena copper mine in South Australia has passed two key milestones ahead of a final approvals process by the company board in 2017. Representatives from OZ Minerals and Traditional Owners, the Kokatha people, travelled to the site to sign a landmark agreement to partner on the project. Kokatha Aboriginal Corporation chairman Chris Larkin said the partnering agreement, ‘NGANAMPA PALYANKU KANYINTJAKU’ translated from Kokatha meant “keeping the future good for all of us”. “This encapsulates the outcome of the process and the feelings of my community,” he said. South Australian Premier Jay Weatherill also officially opened…

Positive signs for Australian geoscientists

Positive signs for Australian geoscientists

Geoscientist unemployment and under-employment in Australia between June 2009 and September 2016. By Reuben Adams EMPLOYMENT prospects are gradually improving for Australia’s professional geoscientists, who were laid off in large numbers during the commodity downturn. The latest quarterly survey by the Australian Institute of Geoscientists (AIG) found that the unemployment rate amongst Australian geoscientists was 13.9 per cent and the under-employment rate was 18.9 per cent – an improvement of 2 per cent and 1.8 per cent from the previous quarter, respectively. South Australia recorded the highest combined rate of unemployment and underemployment; at the other end of the scale Queensland unemployment and under-employment rates fell by 5.5 per cent and 3.2 per cent, respectively. More than 88 per cent…

An ethical approach

An ethical approach

The Argyle pink Jubilee diamond, weighing in at 12.76 carats, was the biggest pink rough diamond ever discovered in Australia. Image: Rio Tinto. By Elizabeth Fabri NOTHING exudes class and timeless beauty like an Argyle diamond. While the majority of the mine’s production are champagne and cognac in hue, on much rarer occasions Rio Tinto will unearth one of its famous pink stones. The spectacular and rare coloured diamonds found at Rio Tinto’s Argyle mine are synonymous with the Kimberley region’s vividly painted landscapes. Since the mine began operating in 1983, Rio Tinto has produced more than 800 million carats of rough diamonds through its 11 million tonnes per annum processing facility, with its name now in lights as the world’s…

Pursuing Performance

Pursuing Performance

More than five million ounces of gold has been produced at Telfer since operations recommenced in 2004. Image: Newcrest. By Elizabeth Fabri BIDDING farewell to its Hidden Valley and Marsden projects has Newcrest looking to the future, and there is much to celebrate. From increased production at Cadia East, progress at Wafi-Golpu and a potential stake in gold junior SolGold, Newcrest’s sights are set on continued success across its global asset base. Newcrest Mining produced 2.439 million ounces of gold and 83,000 tonnes of copper in FY16, meeting the group’s production and cost guidance for the third consecutive year. The gold giant’s managing director and chief executive Sandeep Biswas described the results as “solid” and identified a number of opportunities to…

Growth Opportunities

Growth Opportunities

Rio Tinto’s Hunter Valley Operations (HVO) project produced more than 13 million tonnes of thermal and semi-soft coking coal in 2015. Image: Rio Tinto. By Elizabeth Fabri AS thermal and coking coal prices recover from record lows, the resources industry remains hopeful the worst is now over for NSW’s economic ‘engine room’; the Hunter Valley. The Hunter Valley is Australia’s largest regional area, comprising 11 local governments, about 600,000 residents, and the country’s seventh largest city, Newcastle. Coal mining in the region dates back to 1791, and continues to drive the economy with a number of world-class coal projects spread across the 29,145sqkm expanse. When coal prices took a hit four years ago, the Hunter’s strength was put to the…