Author: Chloe Coutinho

Greenfields exploration takes a hit  The release of the Australian Bureau of Statistics (ABS) June 2025 quarterly data for mineral exploration and expenditure show some solid numbers, along with reason for concern.  There was significantly stronger performance of gold exploration during the June quarter, with expenditure up 36% from the March 2025 quarter to $400.1m.  An extra $100m, or a jump of 35%, was spent on gold exploration compared to the previous corresponding period.  AMEC chief executive Warren Pearce says gold has been on an incredible run of late and these stats back it up.   “It’s also a sizeable...

High grade gold hits returned in Murchison Region  New Murchison Gold (ASX: NMG) has returned encouraging drill intersections from the Abbotts Greenstone Belt in WA.  The company has been undertaking regional exploration on its extensive 677km2 exploration tenure which covers the majority of the Abbotts Greenstone Belt in the Murchison Region of WA.   Following its recent commencement of operations at the Crown Prince gold mine, NMG is advancing its pipeline of prospects within the belt.  The belt contains several large-scale gold prospects defined by...

Platina acquires Mt McKenna gold project Platina Resources (ASX: PGM) is acquiring all the shares in Jasper Exploration, which owns a 100% interest in the Mt McKenna gold project in WA. The project is located 13km east of Laverton in close proximity to Genesis Minerals (ASX: GEN) Laverton project and 20km northeast of the Granny Smith mine. Platina is acquiring the project for $320,000 cash, the issue of 20 million ordinary shares in Platina and a 1.5% net smelter royalty for which Platina can buy-back 50% of the royalty at market value. An additional $25,000 cash and 1.75m shares will be...

Successful blast at new Iron Valley pit Mineral Resources (ASX: MIN) has marked a major milestone at its Central Pilbara operations with the safe and successful first blast of the North Pit at Iron Valley in WA. A targeted drilling program and first blast were safely completed by the company’s drill and blast team and strip activities are now underway to prepare the site for first ore to be crushed and processed at...

Ancient rocks reveal continent-breaking critical mineral origins Rare rocks buried deep beneath central Australia have revealed the origins of one of the world’s most promising new deposits of niobium. The Curtin University-led study found the newly discovered niobium-rich carbonatites were emplaced more than 800 million years ago, rising from deep within the Earth through pre-existing fault zones during a tectonic rifting event that ultimately tore apart the supercontinent Rodinia. Lead author Dr Maximilian Dröllner, from the Timescales of Mineral Systems Group within Curtin’s Frontier Institute for Geoscience Solutions and the University of Göttingen, says the findings shed new light on how rare, metal-rich magmas...

Lynas posts 90% profit plunge, flags uncertainty in US plant Lynas Rare Earths (ASX: LYC) net profit after tax fell to $8m for FY25, a sharp decline from $84.5m in FY24. The miner has cited depreciation on plant and equipment at its Kalgoorlie facility and Mt Weld coupled with lower than nameplate production at the Kalgoorlie facility as contributing factors. Lynas has also noted its significant uncertainty as to whether the construction of its heavy rare earth processing facility at Seadrift, Texas in the US will proceed and if so, in what form. Lynas has an expenditure-based contract...

Westgold’s profit takes a hit despite record revenue Westgold (ASX: WGX) posted a net profit after tax of $35m in FY25, down from FY24’s $95m, citing impacts from one-off transaction and admin costs. Increased depreciation and amortisation resulting from the larger cost base and production from the Southern Goldfields and higher income tax year on year also contributed to the lower profit, according to Westgold. The miner maintained its full exposure to the higher gold prices throughout the year, which when combined with record production delivered a record yearly revenue of $1.36b, an increase of 90%. The incorporation of the...

IGO posts $955m loss in ‘disappointing’ FY25 Significant impairments and subdued product markets have driven a $955m full year net profit loss for IGO (ASX: IGO). The FY25 results include IGO’s share of net loss in TLEA, including full impairment of the Kwinana refinery assets ($605m) and derecognition of deferred tax assets relating to Kwinana ($58m). Additional impairments include $115m of exploration assets and a $58m increase in the company’s rehabilitation provisions for Nova, Cosmos and Forrestania. The results reflect challenging conditions in key markets with average realised spodumene price down 64% and average realised nickel price down 10%. Group revenue of $528m was down 37% from FY24 due...

Rio Tinto partners with Royal Flying Doctor Service Rio Tinto (ASX: RIO) will contribute $14.675m over the next five years in a new partnership with the Royal Flying Doctor Service (RFDS) (Queensland Section). The five-year social impact partnership will focus on strengthening healthcare access and outcomes across regional Queensland. Key areas include enhancing telehealth triage capability to better prioritise patient needs, introducing podiatry services to support chronic disease care, expanding mental health support across North and Far North Queensland and improving access to culturally appropriate care by increasing the number of Aboriginal and Torres Strait Islander health...

Fortescue receives landmark $3b loan Fortescue (ASX: FMG) has secured a syndicated loan facility of $3b (RMB$14.2b) to support its ambitious decarbonisation agenda. The loan facility comes from leading Chinese, Australian and international lenders. This is the first RMB syndicated term loan of its kind by an Australian corporate — a landmark transaction that Fortescue says reflects the depth of its long-standing relationships in China. Proceeds will be used for general corporate purposes and Fortescue’s decarbonisation efforts, including partnerships with Chinese suppliers and technology leaders. Fortescue executive chairman Dr Andrew Forrest says this isn’t just a financial transaction...

IGO director resigns IGO’s (ASX: IGO) Justin Osborne has resigned from his role as non-executive director, citing personal commitments. The IGO board is undergoing a measured renewal and succession process to provide better oversight and governance in the context of IGO’s refreshed strategy and its purpose to supply the commodities essential for a clean energy future. Since joining the board in 2022, Mr Osborne has contributed to the strategic oversight of the company, including as chair of the Nomination and Governance Committee. Mr Osborne has a strong background in exploration and has provided valuable insights to the company’s recent review of its exploration business model. The IGO board...