Category: Developments

Ninety-Seven per cent of Australian mining companies optimistic about the year ahead, according to research report The Equinix Mining Technology Report, a paper published today by Equinix, Inc., has revealed resounding optimism across the Australian mining, oil and gas industry. The report found that 97% per cent of the mining leaders interviewed are very optimistic about their prospects, with a quarter expecting sales revenue to grow between 20% and 50% in the next 12 months. This growth is primarily driven by strong market demand despite challenges faced over the last two years, including economic slowdowns, increased operational complexity, greater health and safety considerations, and pandemic-induced business disruptions. To capitalise on this growth, more than 90% of mining leaders are increasing...

Red 5 Limited’s (ASX: RED) mining contractor, Macmahon Contractors Pty Ltd has commenced open pit mining at the 100%-owned 2.4Moz, 16-year life-of-mine King of the Hills (KOTH) Gold Project in Western Australia. With the KOTH Project now well past 83% completion (at the end of December 2021), Red 5 is firmly on track to deliver first gold production through the new state-of-the-art KOTH processing plant in the June Quarter. The commencement of open pit mining is in-line with the project execution schedule, with underground mining expected to commence on schedule in early April 2022. Macmahon is progressively mobilising to KOTH, establishing infrastructure, and ramping up its site workforce according to plan. The initial open pit mining fleet consists of one...

 MINING’S most effective excavation tool in the future could be cutting-edge mathematics, which the industry is adopting to dig away at its emissions and carbon footprint.   With the COP26 United Nations Climate Change Conference concluding in Glasgow today, an “Industrial Revolution 2.0” looms as businesses worldwide change the way they operate to meet green targets.   The Australian Government has committed to net-zero carbon emissions by 2050, putting pressure on local businesses – particularly in the mining and resource sector – to adopt more sustainable operations.   Already, industry leaders like BHP, OzMinerals and Fortescue have begun changes to turn their operations to zero-carbon. Brisbane-based industrial mathematics company Polymathian is leading the revolution, with their technical expertise paving the...

The prices of precious metals (gold and silver) have experienced slight pull back in recent months. For many, particularly leveraged early stage stocks, this suggests a likely return to form in the early months of 2021. This is especially true for silver stocks, as analysts believe the price of silver is poised to run hot next year. According to Kitco analyst Peter Hug, once industrial demand picks up, more tailwinds for silver will push the metal closer to the $35 to $40 an ounce range next year. Thomson Resources (ASX:TMZ) could be positioned to capitalise on this precious metal resurgence, with an existing gold portfolio and the pending acquisition of two silver assets. Thomson is a NSW focused explorer, set...

Titan Minerals Ltd (ASX:TTM) this week came to agreement to divest its non-core assets in Peru. In doing so, the company is now freed up to focus on its key Ecuadorian assets, including the development of its flagship Dynasty Gold Project and the Copper Duke Project in Ecuador. Dynasty is an advanced stage exploration project located in the Loja Province of southern Ecuador currently hosting a 2.1Moz Au foreign resource estimate averaging 4.5g/t gold reported in compliance with Canadian NI 43-101 standards. Titan reported assay results in July for diamond drilling completed at the Dynasty Gold Project that further support an emerging large-scale gold system and extend known mineralisation that remains open in multiple directions and at depth. The commencement...

DRILLING is underway at Galileo Mining Ltd.’s (ASX: GAL) Fraser Range Nickel Belt tenements, which are highly prospective for nickel-copper sulphide deposits similar to the operating Nova mine. Anticipation ahead of the drilling program has been building with the company’s share price gaining more than 50% in July alone: investor attention has tuned into the Fraser Range, along with Galileo’s highly prospective nickel targets. The commencement of Galileo’s drilling program is lining up nicely with nickel price forecasts. Research firm Wood Mackenzie anticipates nickel consumption in electric vehicle batteries to soar 64% by 2025 from 2019 levels. Supporting that view is Elon Musk’s call last week for a lift in the mining and production of nickel. Musk said Tesla will...

Currently unlisted New Energy Metals Ltd (NRG) has signed a binding heads of agreement with Zenith Minerals Ltd to purchase its Fraser Range tenement for $100,000.  Zenith have backed the future production of metals on the site by retaining a 1.5% net smelter royalty fee, while still moving its focus to its current gold and copper wholly owned projects. The sale is conditional on regulatory approvals and more importantly, upon the successful listing via an initial public offering (IPO) of NRG on the Australian Securities Exchange (ASX) within 6 months. Zenith Minerals report that NRG primary focus is Nickel Sulphide exploration in WA with exposure to the Albany Fraser Orogen and the South West Yilgarn while retaining a proprietary Nickel...

LEGISLATION has been passed in Queensland to set up an independent health and safety body for workers in the resources sector from July 1. The new body will be called Resources Safety and Health Queensland (RSHQ) and will regulate the safety and health of workers in the state’s minerals, coal, petroleum and gas, quarry, small scale mining and explosives industries. This puts into action the Safety and Health Queensland Bill 2019, based on recommendations by the Coal Workers’ Pneumoconiosis (CWP) select committee. Queensland Mines minister Anthony Lynham said the new regulator would focus on enhancing safety of the state’s 70,000 resources workers. “It will be totally separate from the government’s broader function of growing and facilitating mining and exploration projects...

IRON ore will prop up Australia’s resource and energy export earnings despite the impact of the coronavirus outbreak, according to a new estimate put forth by the Australian Department of Industry, Innovation and Science. The department’s latest Resources and Energy Quarterly (REQ) forecasts commodity export earnings to hit a record $299b in 2019-2020, an increase of $18b from 2018-2019. The REQ covers a five-year outlook, highlighting long-term structural changes affecting global commodity markets including urbanisation, industrialisation and technological change. This edition includes information on the impact of the coronavirus outbreak on the commodity outlook. While oil prices have been falling due to diminishing global demands for air travel, gold prices have been increasing as investors look towards safe options, benefiting...

THE 23rd Global Iron Ore and Steel Forecast Conference, scheduled to take place in Perth next week, has been cancelled amid concerns over the potential spread of the coronavirus. The conference will be rescheduled to later this year at the same venue, The Westin Hotel Perth. Informa Australia resources conference director Alexandra Bennet said all existing registrations and sponsors will be transferred to the new conference dates of 1 and 2 December. “We were greatly looking forward to welcoming to the conference but this reschedule is in the best interest of the health and welfare of all involved and we apologise for any inconvenience this may have caused,” she said. The conference is a premier annual event for the...

THE Minerals Council of Australia believes the Federal Government’s $17.6b stimulus package to boost the national economy will benefit junior miners. The statement was in response to a meeting in Canberra yesterday, attended by leaders from the resources sector, to plan against the potential impact of the coronavirus outbreak. MCA chief executive Tania Constable said the Australian mining sector is responsive and responsible during challenging times. “Business confidence is essential during this period,” she said. “Through encouraging exploration and investment, the Government’s stimulus package is good news for the country’s junior miners. “Australian mining contributes to national economic strength provides a bedrock for the Australian Government to meet its immediate and long-term challenges.” The Queensland Resources Council, South Australia...