Author: Chloe Coutinho

Alkane’s golden year: strong production for FY24 Alkane Resources (Alkane) (ASX: ALK) Tomingley gold operations in New South Wales has closed FY24 with 57,217oz of production to meet its updated guidance. Production in the June quarter of FY24 accounted for 17,319oz of gold. Preliminary all in sustaining costs (AISC) are expected to fall within updated guidance ($2,150/oz to $2,350/oz) for FY24 The Group’s unaudited cash, bullion and listed investments position at the close of FY24 totalled $54.5m, comprising $45.5m cash, $8.7m of bullion on hand and $0.3m of listed investments. Alkane managing director Nic Earner says the Roswell underground ramp-up is the primary...

SCEE secures $50m contract for Collie battery SCEE Electrical (ASX: SXE) has been awarded a $50m contract to link Synergy’s (ASX: IS3) Collie battery to the WA power grid. Upon completion in late 2025, the battery will be one of the biggest in the world with a capacity of 500MW/2000MWh. The new scope of works will deliver a 330KV switchyard, substation and support ancillary buildings and equipment to connect the Collie battery to Western Power's network. With State-owned coal-fired power stations due to be retired by 2030, the WA Government has committed $2.3b for Synergy to deliver new battery storage to...

Federal Government plans for a stronger, cleaner economy The Federal Government has introduced the new Future Made in Australia Bill 2024 to Parliament. This package will legislate the new National Interest Framework, introduce a robust sector assessment process and outline the Community Benefit Principles intended to encourage new industries that strengthen economic resilience during the energy transition. The National Interest Framework defines criteria for identifying sectors essential to the net zero transformation and where Australia has a genuine comparative advantage. The...

Rio Tinto invests $18.5m in WA based Sovereign Rio Tinto (ASX: RIO) has increased its shareholding in Sovereign Metals (ASX: SVM) to 19.76%, making it the company’s largest shareholder. Via an option excise, Rio Tinto will invest $18.5m to be used to advance the Kasiya rutile-graphite project in Malawi. This includes progressing an optimisation study for a world-class mine capable of supplying critical minerals to the titanium pigment, titanium metal and lithium-ion battery industries. Sovereign chairman Ben Stoikovich says this investment reaffirms Kasiya’s position as one of the most significant...

Rio Tinto promises two new solar farms for energy transition Rio Tinto (ASX: RIO) has announced its plans for two new 5.25MW solar farms for the Gove Peninsula in the Northern Territory. Construction will begin in July 2024, with completion scheduled for early 2025. Aggreko will construct, own and operate the solar farms for Rio Tinto for up to 10 years. The solar farms will be built on Rio Tinto leases, following agreement with the Gumatj and Rirratjingu Traditional Owner Groups, and will help transition to a low-carbon future after mining operations cease...

Liontown secures $379m for Kathleen Valley ramp-up Liontown Resources (ASX: LTR) has secured funding from LG Energy Solution to boost current lithium mining and explore the feasibility of establishing a lithium refinery in WA. The agreement includes a five-year $379m (US$250m) convertible note, increasing total cash balance to about $501m to fund the Kathleen Valley, WA, ramp-up to 3mtpa steady state production. Funding will progress early enabling works in the underground mine to preserve the 4mtpa expansion option on a 2027 timeframe and to support 3mtpa production. The existing offtake agreement has also...

Civmec awarded $174m in contract extensions Civmec (ASX: CVL) has been awarded $174m in contract and scope extensions for fabrication, manufacturing, construction and maintenance work across Australia. Among these awards is the contract for the supply, manufacture and offsite assembly of a new shiploader for the Dalrymple Bay terminal in QLD to be undertaken at Civmec’s state-of-the-art facility in Henderson, WA. Civmec states the project will create significant opportunities for local employment and subcontracting, reinforcing Civmec’s commitment to contributing positively to the communities in which it...

Asra fast-tracks Kookynie gold project Asra Minerals (ASX: ASR) has accelerated preparations for drilling at Kookynie East in WA. This follows documentation from Bullseye Mining and Kalgoorlie Mining Associates, detailing agreement to dismiss all Applications for Forfeiture over the tenements. The tenements are being acquired by Asra to add to its expanding gold portfolio in the Leonora-Kookynie region of WA. Asra executive chairman Paul Summers says this development provides certainty for progressing drilling preparations. “This legal matter, which was unrelated to Asra and largely outside of the Company’s control, has not affected our ongoing...

Mt Marion breaks new ground Mineral Resources (MinRes) (ASX: MIN) achieved first underground firing at its Mt Marion lithium operation in WA. Full development earthworks targeting a depth of 350m are expected within the next 18 months. Mt Marion general manager Marcelo Avecilla says the underground cut marks an important step forward in Mt Marion’s transition to an open pit and underground operation. “We’ve always considered Mt Marion a world-class asset and having recently doubled our underground Resource, MinRes is now working hard to deliver an exciting new phase...

Federal Government to overhaul automotive qualifications across industries The Mining and Automotive Skills Alliance (AUSMASA) plans to reform vocational education and training (VET) packages, becoming one of the first Jobs and Skills Councils to do so. AUSMASA will examine 15 different Certificate II pathway qualifications in the automotive training package. Qualifications will be redesigned based on their purposes to respond to changing workplaces and industries. This follows guidance from the Qualification Reform Design Group which proposed a revised system that moves away from a ‘one-size-fits-all’ approach....

Karora and Westgold set for merger The Karora Resources board has unanimously recommended shareholders back its upcoming merger with Westgold Resources (ASX: WGX). For the merger to proceed, two-thirds of Karora shareholders will be required to vote in favour of the transaction on July 19. All Karora directors and senior officers have entered into agreements with Westgold to vote in favour of the transaction. The merged company will operate across two WA goldfields which includes four production centres. It is expected to become a top five Australian gold producer,...