Category: Legacy

By Rachel Dally-Watkins 4 November, 2015 THE Carmichael coal mine has been granted federal environmental re-approval subject to some of the strictest conditions “in Australian history”. Environment minister Greg Hunt reinstated Adani’s mine and rail project in mid-October, two months after it was stripped of its previous approval through federal court proceedings. The proposed $16.5 billion project in the Galilee Basin of Central Queensland would be subject to 36 environmental conditions, Mr Hunt said. “I have the power to suspend or revoke the approval and strict penalties apply if there is a breach of the strict conditions,” he said. “The conditions I have imposed take into account issues raised by the community and ensure that the proponent must meet the…

By Samantha James 4 November, 2015 MANY junior exploration and mining companies have struggled with volatile and declining commodity prices in recent years, but a new survey claims the fight may be easing for gold juniors. The 2015 Grant Thornton Junior Mining and Exploration Survey (JUMEX 2015) found 63 per cent of mining executives regarded gold as the brightest investment opportunity in 2016, followed by copper (50 per cent), zinc (36 per cent) and nickel (23 per cent). “This will be a welcome ray of hope for a significant portion of junior miners given the extremely challenging conditions that persist in the sector,” Grant Thornton Australia national head of energy and resources Holly Stiles said. “Whilst there are companies who…

By Reuben Adams MINOTAUR Exploration stated it was remaining “firmly positive” about the future of copper demand despite the metal falling to six year lows in August. Mintotaur chairman Derek Carter said that the explorer’s projects in South Australia and Queensland provided “superior discovery exposure to a rising metal price” as existing mines globally drew down on their reserves. “We remain enthusiastic towards copper as a globally significant commodity, contrary to current price pressure due to softening demand from China,” Mr Carter said. “Even though ‘grassroots’ exploration continues to be out of favour with many investors our view is that discoveries will reward effort and quality deposits will reward shareholder support in multiples.” This view was supported by The International…

By Courtney Pearson 4 November, 2015 SMALL-cap junior MZI Resources has begun production at its Keysbrook mineral sands mine days after completing a major capital raising. The Keysbrook mine, south of Perth, started production at the end of October, three weeks ahead of schedule and on budget, with first sales targeted for late December. “The Keysbrook project is performing exceedingly well and we now look forward to commencing product sales later this year,” MZI Resources managing director Trevor Matthews said. The mine would be progressively commissioned to reach full capacity during the December quarter, to produce more than 95,000t of leucoxene and zircon products annually. Heavy mineral concentrate from Keysbrook would be transported about 130km to Doral’s mineral separation plant…

By Samantha James October 15, 2015 THE WA State Government has vowed to work with the Mining Industry Advisory Committee (MIAC) to address several recommendations made in a parliamentary report into the mental health impact on fly in, fly out workers in the resources industry. Mines and Petroleum minister Bill Marmion said the government had carefully considered the report by the Education and Health Standing Committee, which recommended 30 actions to improve workers’ mental health. “The health and safety of workers in the resources industry is one of the government’s highest priorities,” he said. “Mental health is a community-wide concern and any information highlighting factors influencing the incidence of mental health issues among vulnerable sections of the community is welcomed.…

By Samantha James Rio Tinto Iron Ore holds 15 mines 1700km of rail, four port terminals, three power stations, and around 360 trucks, 39 production drills and 190 locomotives in the Pilbara region of WA. All these assets utilise various integrated automated systems, also relying on unmanned trucks and drills to mine iron ore. RIO Tinto produces more than 295 million tonnes per annum of iron ore from its Pilbara operations. Following the completion of port and rail infrastructure in 2015, Rio Tinto is concentrating on improving system-wide efficiency and productivity. The company has been researching new ways to deliver cost savings and improve environmental impacts and safety since operations commenced nearly 50 years ago; and then in 2008 the…

By Samantha James One hundred and thirty years on, BHP Billiton is an old company with new tricks. Despite price drops affecting its major commodities– iron ore, coal and copper – BHP Billiton made more than US$44 billion in revenue for fiscal 2015 and reported a 9 per cent increase in overall production. THE company in its current form was created in 2001 when BHP and Billiton merged.  BHP’s first discovery was made in 1883 in Broken Hill, NSW and Billiton’s was at Billiton Island in western Indonesia. After the merger, the diversified entity quickly grew to become one of the largest mining companies in Australia and the world. Following the demerger of South32 in May 2015, the company retains…

By Samantha James October 7, 2015 NEW data released by the Workplace Gender Equality Agency (WGEA) into the pay gap between men and women in management positions has highlighted the need for change in the resources sector. WGEA reported in September 2015 that 28.9 per cent of women employed in key management personnel (KMP) positions across several industries were paid at a lower rate than their male counterparts. This was followed by general managers at 27.5 per cent, then other managers and senior managers at 24.6 per cent and 23.5 per cent respectively. The resources sector has the lowest percentage of female managers at 13.7 per cent, compared to an average across all industries of 48 per cent of employees…

By Samantha James October 7, 2015 ROY Hill EPC contractor Samsung C&T and subcontractor Best Tech have clashed in the WA Supreme Court over failed payments associated with work at the $10 billion project. According to Best Tech, Samsung failed to make payments for the supply of about 15,000t of steel modules for the project. Samsung stated that the Thai supplier had reneged on its contract obligations, and gave notice that it would seize a bank guarantee related to contract. This was temporarily blocked by Supreme Court Justice Janine Pritchard. A number of Roy Hill subcontractors have clashed with Samsung, most in relation to changes to the scope of work under contracts at the Pilbara project. NRW Holdings issued dispute…

By Samantha James AUSTRADE is finishing up a month of mining-focused investment activities designed to boost international trade and development opportunities for Australian Mining Equipment, Technology and Services (METS) providers. The Government-run promotional agency for investment, trade and education was a key participant in the AIMEX conference and Africa Down Under forum in September. Its overseas offices also coordinated Australian company participation at key mining events in major offshore markets including Indonesia, Brazil, Philippines, Peru and Kazakhstan. Austrade’s Resource and Energy Trade team is supported by an international network comprising 80 offices in 60 countries that assist Australian METS suppliers to enter the global supply chains of major multinational mining companies. The department works with industry partners including Austmine, HunterNet,…

By Courtney Pearson October 7, 2015 MCARTHUR River Mine (MRM) has agreed to pay the Northern Territory Government a sizable increase to its security bond for future site rehabilitation. Mine operator Glencore was given until 1 October to pay the “significant increase” to continue operating its Boroloola zinc mine, Chief Minister Adam Giles said. The figure was not disclosed. “The bond is one of a number of issues which we have been working hard to resolve with MRM,” he said. “We want miners to keep working at Boroloola and we want MRM to meet its obligations to protect the environment.” In February last year the NT Government discovered that mining waste at the site varied from what was assessed and approved…