Category: Legacy

AUSTRALIA’S sluggish resources sector is one of the rare winners from a largely austere 2014 to 2015 Federal Budget, as the Abbott Government maps a course toward achieving a budget surplus by the end of the decade. A reiterated pledge to remove the carbon and mineral resources rent taxes was accompanied by a 1.5 per cent company tax cut, generous exploration incentives, and cuts to existing red and green tape. The diesel fuel tax rebate scheme would also remain. Association of Mining and Exploration Companies chief executive Simon Bennison called the Budget “sensible”, and said restoring Australia’s reputation for investment in mining and exploration would be a crucial outcome. The Exploration Development Incentive (EDI) – introduced from 1 July –…

TWO local Alaskan charities will be gifted Rio Tinto’s 19.1 per cent shareholding in Northern Dynasty Minerals, owner of the ambitious Pebble mine project. Rio Tinto’s divestment followed a late 2013 strategic review that concluded the polarising Pebble Project did not fit with its strategy. The Northern Dynasty shares will be divided equally between the Alaska Community Foundation – to fund educational and vocational training – and the Bristol Bay Native Corporation Education Foundation, which supports educational and cultural programs in the region. Rio Tinto Copper chief executive Jean-Sebastien Jacques said Rio Tinto had long and historic ties to Alaska and would “continue to see Alaska as an attractive location for potential future investment”. “By giving our shares to two…

PERTH-based explorer Peak Resources has delivered encouraging pre-feasibility results for its Tanzanian flagship project, declaring it “one of the world’s highest grade and largest rare earth deposits”. Ngualla Carbonatite, in southwestern Tanzania, was found by Peak’s independently contracted mining consultancy Orelogy Group to contain a maiden mineral resource of 170 million tonnes grading 2.24 per cent rare earth oxide (REO), and a maiden ore reserve of 20.7mt grading 4.54 per cent REO (total REO plus yttrium). The study established an “economically robust project base case” at 10,000 tonnes per annum of high purity REO. The average operating cash flow was estimated at $116 million per annum post tax and royalties ($174 million pre-tax and royalties) across a 58-year mine life.…

ONSHORE resources sector operators are lagging behind their offshore counterparts in establishing a minimum industry-wide safety standard for contractors, according to Yara Pilbara chief executive Mark Loquan. Addressing CMEWA Health and Safety conference delegates, Mr Loquan called for a united approach to improving onshore contractor safety in WA. “Currently it’s somewhat fragmented, with individual companies having their own systems and requirements but the industry has a highly mobile workforce,” he said. Mr Loquan said he supported the introduction of a co-ordinated contractor safety system, similar to that implemented offshore by the Australian Petroleum Production and Exploration Association (APPEA), or by Trinidad and Tobago’s petrochemical industry. A passport system was collaboratively developed in Trinidad and Tobago b several onshore processing companies,…

NEWLY listed explorer Kin Mining will acquire the 745,000oz Leonora gold project from failed gold miner Navigator Resources for $2.7 million. Kin managing director Trevor Dixon said the acquisition would complement the company’s six mineral exploration project areas in the Leonora district of WA, which are close to the gold project. “ potential for further discoveries in the region through current and future exploration activities could create a significant mining operation for the future,” he said. The Leonora gold project, which includes the Mertondale, Cardinia, Raeside and Gambier Lass project areas, is in the northeastern Goldfields, about 35km northeast of Leonora and 700km northeast of Perth. “Kin intends to immediately assess the project areas and proceed to improve the status…

PRIME Minister Tony Abbott has labelled the government’s North Asia trade mission a success after establishing lucrative free trade agreements with Korea and Japan, and making progress towards a deal with China. During his visit, Mr Abbott secured the historic and long-contested Japan-Australia Economic Partnership Agreement, which was first tabled in 2007 and will reportedly contribute billions to the Australian economy in the next 20 years. The Korea-Australia Free Trade Agreement (KAFTA) was formally signed in Seoul just days later. While various sectors have criticised specific details of the agreement, the government promised substantial economic benefits, including wider access to Japanese markets than any other country. “The government’s swift conclusion of these historic agreements sends a strong signal that Australia…

NICKEL junior Cassini Resources is undergoing a $10 million share placement in the wake of its acquisition of BHP Billiton’s West Musgrave nickel project. The acquisition deal – which included a $250,000 cash deposit, a 2 per cent smelter royalty, and a further $10 million to be paid within 12 months after production starts – was signed by Perth-based Cassini and the global giant in early April. The 1000 square kilometre West Musgrave project, on the border of WA, the Northern Territory and South Australia, contains the highly mineralised nickel-copper Nebo and Babel sister deposits (Nebo-Babel) and the Succoth copper exploration prospect, as well as several other highly prospective tenements. Nebo-Babel was discovered in 2000, when a Western Mining drill…

RIO Tinto subsidiary Coal & Allied has lost a Supreme Court appeal to progress its Mt Thorley Warkworth (MTW) coal mine expansion after the initial proposal was overturned last year. The two open cut mines comprising MTW, 15km south of Singleton in NSW’s Hunter Valley, would have increased production to 18 million tonnes per annum of semi-soft coking coal and thermal coal under the plans – 8mtpa above the current production capacity. The company also proposed 150 new jobs on top of the current 1300-person workforce. The NSW Government originally granted planning consent for the proposed expansion; however the decision was overturned by the state’s Land and Environment Court in April 2013 due to unhealthy dust and noise level forecasts.…

IN an ultimate story of small business savvy enacting huge community change, a group of female elders from the Wirlu-murra Aboriginal community in Roebourne have translated a market stall selling local artwork into joint venture mining contracts worth $100 million. The group began a gallery after demand for their artwork exceeded the capacity of their stall outside a local church. In time the gallery boomed, and the women’s work has since been exported to customers across the world. The group established the Wirlu-murra Yindjibarndi Aboriginal Corporation (WMYAC) on the success of their art business, and the elders are now spearheading a major push to create a better future for their community, through the ongoing gallery business and the establishment of…

Promotions company built on principle of quality service FOR the past 16 years, Mikomi Promotions has produced promotional products and corporate wear for businesses throughout Australia, Asia and Papua New Guinea. The company can tailor all of its products to its customers’ needs, incorporating company logos to a multitude of products for staff rewards; client gifts, no lost time injury awards and promotion. If you have seen a product, Mikomi Promotions will be able to supply that item with the required logo to suit the purpose. Since its establishment in 1997, the company has built relationships with a number of the world’s best suppliers, meaning no product is too difficult to source and Mikomi Promotions’ product range is extensive. The…

HISTORIC records revealing grades of up to 5324.5 grams per tonne of gold at the Aorangi gold mine in New Zealand’s South Island have been uncovered by Perth-based explorer Strategic Elements. Aorangi, which is part of Strategic Elements’ Golden Blocks Goldfield project, produced about 26,000oz of gold at an average head grade of 46.9g/t before poor pumping equipment failed to prevent mine water issues and stalled further development. It was previously accepted that no attempt had been made to reopen the mine since its closure in 1914. However, archived records discovered by Strategic Elements revealed a little-known effort by local company Golden Block Mines (GBM) to reopen the goldfield in 1932. “It is now clear that No. 3 Level of…