Category: Companies

All images: Mincor Resources. BY REUBEN ADAMS FORMER nickel mid-tier Mincor is back in the game, pouring first gold at its 71,700oz – and growing – Widgemooltha Gold Project in late July. The low-capex operation will help bankroll the rapid development of the miner’s world-class Kambalda nickel portfolio, with a major exploration push currently underway. The Australian Mining Review speaks with Mincor chief executive Peter Muccilli. Q. You’ve experienced nickel’s incredible highs and the subsequent, challenging lows as part of the Mincor team. How has this rollercoaster ride helped shape your approach as chief executive and the current Mincor strategy? The sharp falls in the Australian nickel price, which hit decade lows in March 2016, resulted in Mincor staging down…

All images: Gascoyne Resources. BY ELIZABETH FABRI THE lights turned on at Gascoyne Resources’ Dalgaranga project earlier this year; now, the miner’s focus is on achieving commercial production and continued exploration to extend mine life. It’s been two months since first gold was poured at Gascoyne Resources’ $100 million Dalgaranga project in the Murchinson region, WA. Bringing any new project into production is a milestone, but for Gascoyne Resources, this represented something bigger. First gold marked the beginning of the company’s transition from explorer to a producer among the ranks of ASX-listed gold miners. Gascoyne Resources managing director Mike Dunbar said to say that he was pleased “would be a massive understatement”. “The company has managed to put together a…

BY: JESSICA CUMMINS A transformational deal with Canadian miner New Gold expands Aurelia Metal’s footprint in the Cobar region and further diversifies the company’s portfolio. The Australian Mining Review speaks with managing director and chief executive Jim Simpson on his outlook for the remaining of the year. IN June Australian miner Aurelia Metals made a watershed deal with Toronto-listed miner New Gold to acquire its Peak Mines gold, copper and lead project. The tier 1 mining operation has averaged over 100,000oz of gold and 8.6 million pounds of copper production per year since commissioning in 1992. Aurelia Metals bought the mine and 750,000tpa processing plant in the Cobar region of central NSW, 75km north of its producing Hera mine, for…

All images: Whitehaven Coal  BY: JESSICA CUMMINS The largest high quality coal producer in the Gunnedah Basin, Whitehaven Coal, finds itself perfectly positioned to capitalise on rising demand from Asian markets. Against the backdrop of coal prices sitting at seven year highs, The Australian Mining Review speaks with chief executive Paul Flynn about Whitehaven’s outlook following its most important acquisition. FY17 results for Australian coal producers placed Whitehaven as one of the industry’s leaders, with a significant jump in net profit from $20.5 million to $405.4m year on year. Now, with met coal prices at seven year highs, Whitehaven remains on track for a record financial result in FY18. June Quarter ROM production of 5.9 million tonnes boosted Whitehaven’s FY18…

BY: JESSICA CUMMINS In the final stages of debt financing discussions over its 823,000oz Karlawinda Gold Project ahead of construction in the second half the year, Capricorn Metals is working in parallel to further enhance the value of this compelling project – and the results have been outstanding. CAPRICORN has a very low profile for a company lining up to become one of Australia’s next significant gold producers. After acquiring its flagship Karlawinda Gold Project – 65km, southeast of Newman in WA – at the beginning of 2016, Capricorn has moved quickly towards development. In June, an optimisation study increased the value of an already attractive project by $100m, with improved rates of return and a quicker payback period.  The…

A diamond rig at Doolgunna. All images: Sandfire Resources BY: JESSICA CUMMINS A cashed up Sandfire Resources is pursuing a multi-pronged strategy to replace production from its depleting flagship DeGrussa operation, which is expected to reach the end of its life in 2022 on current reserves. SANDFIRE’s replacement and growth strategy includes taking advantage of M&A opportunities in Australia and overseas,  an aggressive $30 million regional exploration campaign around DeGrussa, and the rapid development of its $US250m Black Butte project in Montana. The recent $72.3m purchase of Talismans’ 30 per cent interest in the Springfield Exploration and Mining Joint Venture gives Sandfire full ownership of the Monty copper-gold development, Springfield and Halloween West. Neighbouring Sandfire’s Doolgunna project, Monty is being…

All images: Image Resources. BY REUBEN ADAMS THE mineral sands market continues to tighten in 2018 with prices increasing as a result – particularly in zircon. It’s in this positive pricing environment that Image Resources is fast-tracking development of its high-grade, zircon-rich flagship Boonanarring mineral sands project, 80km north of Perth, WA. Boonanarring is considered one of the highest-grade mineral sands projects in Australia – and about 70 per cent of revenue will come from zircon. The low capital cost, short lead time to production and strong forecast cash flow, coupled with multiple growth options positions Image as an exciting new player in the mineral sands space. Reuben Adams spoke with Image managing director Patrick Mutz. Q. A recent article…

All images: Havilah Resources. BY ELIZABETH FABRI Diversified junior Havilah Resources has been busy. In June, the company announced high cobalt recoveries at Mutooroo, launched a due diligence agreement with SIMEC, and divested its North Portia mine. Elizabeth Fabri spoke with Havilah chief executive Walter Richards about the company’s timeline to production for its Kalkaroo and Mutooroo projects.  Q. You recently flagged the sale of Benagerie Mining Lease, comprising the Portia and North Portia mines, for $14.7 million and a 2 per cent royalty. Why did you sell? Havilah has established a mutually beneficial relationship with Consolidated Mining and Civil (CMC) over the past three years and together we have made a success of the Portia gold mine. With all the…

FMG’s third chief executive Elizabeth Gaines. All images: FMG. BY ELIZABETH FABRI THE resignation of Fortescue Metals Group (FMG) long-term boss Nev Power in February marked the end of an era for the iron ore giant. But it hasn’t taken long for new chief Elizabeth Gaines to begin paving a legacy of her own, as FMG diversifies into new markets and commodities, and advances its $US1.275billion Eliwana project. Less than six months since her promotion from chief financial officer to chief executive, Elizabeth Gaines has settled well into the FMG driver’s seat. When announced as Nev Power’s replacement back in November, it was clear Ms Gaines had some big shoes to fill – who can forget Mr Power’s resolute leadership in…

Mark Creasy and Galileo Mining managing director Brad Underwood. Image: Galileo Mining. BY CAMERON DRUMMOND MARK Creasy-backed Galileo Mining is one of the newest exploration companies to list on the ASX, focused on mining battery metals such as copper, nickel, cobalt, platinum and palladium. Cameron Drummond spoke with managing director Brad Underwood about the company’s drilling plans this year, and his take on WA’s position as a leader in battery minerals production. Q: What is your professional history? I have been working as a professional geologist for over 15 years. However, before then I spent some time prospecting for opals and gold and making no money in the process. I realised that a steady pay cheque certainly has its charms.…

All images: Silver Lake Resources. BY CAMERON DRUMMOND BOOSTED by a cash balance of $87 million, junior gold producer Silver Lake Resources is poised to add a fourth mining centre, Aldiss, to its Mount Monger operations after successfully executing a three year strategy to optimise value from existing production. Mount Monger, south of Kalgoorlie in WA, is home to a highly-endowed gold camp with multiple mines and a history of replacing reserve life. Following the major gold discoveries at Kalgoorlie in 1893, prospectors found gold 50km southeast of the town near Mount Monger in 1896. The main production period started in 1916, when several mines were developed close to the Mount Monger homestead. Some of these were the Caledonian, Daisy,…