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BHP and Lundin Mining to acquire Filo Corp for $4.52b BHP (ASX: BHP) and Lundin Mining Corporation have agreed to acquire Toronto Stock Exchange (TSX) listed Filo Corp through a Canadian plan of arrangement. Total consideration for the acquisition is $4.52b (C$4.1b) and BHP’s total cash payment for the transaction is expected to be around $3.2b (US$2.1b). This values Filo Corp at $36.36 (C$33) per share, a 32.2% premium to its 30-day volume weighted average price on the TSX. The acquisition will be implemented by a court-approved plan of arrangement and requires Filo Corp shareholders in accordance with Canadian corporate and securities laws. BHP chief executive...

BHP celebrates autonomous operations at Spence BHP’s (ASX: BHP) has celebrated three months of 100% autonomous operations at its Spence mine in Chile. In April 2024, Spence achieved full autonomy after converting its fleet of 33 CAEX 980E-5 AT trucks and five drill rigs, and since then, 80mt of material has been moved with zero safety incidents. A delegate from the Pampa Norte operation, where Spence is located, received executives from Komatsu to celebrate the milestone. In the field, the delegates visited the Spence truck shop and see the results of this first stage of operation. The visit was led by...

UGL reaches milestone in connecting Collie UGL has completed commissioning and readiness for energisation for the construction of Neoen Australia’s Collie Battery Stage 1 in WA. The battery will connect to Western Power’s Shotts Terminal substation, enhancing the region’s power distribution network. Work at Collie battery Stage 1 commenced in April 2023 and is expected to finish later this year. The project encompasses the installation of 219MW/877MWh battery of Tesla Energy Megapacks, coupled with the establishment of a new 33/330kV High Voltage Substation. UGL project manager Diego Cortes Ferrer comments on the progress. “This...

MinRes: record lithium shipments in Q4 Mineral Resources (MinRes) (ASX: MIN) reports a productive Q4, with record lithium shipments and high lithium prices across all operations. WA lithium operations Wodgina and Mt Marion both reported record shipments up 41% and 46% respectively from Q4 of 2023. Lithium operations benefitted from high prices, with a weighted average realised price across all operations of about $1479/dmt (US$970/dmt) in Q4, an increase of 15% from Q3. Total quarterly iron ore shipments increased by 6% from Q3 to 18.1Mwmt within guidance, with MinRes delivering its first iron ore on ship ahead of schedule from Onslow iron in WA. MinRes...

First production at Kathleen Valley imminent Construction of the process plant was substantially completed in the June quarter at Liontown Resources’ (ASX: LTR) Kathleen Valley lithium project in WA. Construction of the process plant was substantially complete by the end of the quarter, achieving 99% overall completion. Dry plant After beginning dry plant commissioning ahead of schedule in March, Liontown used the June quarter to focus on increasing throughput and driving circuit optimisations in the crushing circuit to the fine ore bin. At the end of the quarter, 58kt of crushed ore was stockpiled for commissioning the SAG mill and wet plant. Wet plant Efficiently...

Conditions satisfied for Illawarra Metallurgical Coal sale All conditions relating to the sale of South32’s (ASX: S32) Illawarra Metallurgical Coal in NSW have been completed with the transaction expected to be complete in September 2024. In February 2024, South32 announced it had entered a binding agreement to sell Illawarra to an entity owned by Golden Energy and Resources and M Resources for $1.98b (US$1.3b) plus a contingent consideration of up to $533m (US$350m). The sale was subject to the satisfaction of certain conditions which have now been completed. When announcing its intention to sell Illawarra,...

Many Peaks divests Queensland exploration permits Many Peaks Minerals (ASX: MPK) is divesting its 80% ownership in two Queensland exploration permits to focus on its flagship projects in Côte d'Ivoire. The sale is pursuant to a sale agreement entered into with EMX Broken Hill. Simultaneously, Many Peaks has also confirmed it will not be exercising its rights to execute and option to acquire a 100% interest in the Yarrol and Mr Steadman projects in Queensland. The sale agreement and termination of the option agreement are part of Many Peaks’ strategic review which aims to ensure...

$250m deal to supercharge renewables in the Northern Territory The Federal and Northern Territory governments have signed a $250m deal as part of the Rewiring the Nation Program. Through the Clean Energy Finance Corporation, the funds will create hundreds of new jobs and see the power grid upgraded and expanded across the Territory, supporting major transmission projects and bolstering grid strength. The $250m investment will also accelerate the rollout of transmission projects across the Territory, with the first wave of these to be completed before 2030. The Northern Territory has also signed...

No more mining at Jabiluka Energy Resources of Australia’s (ASX: ERA) (ERA) lease for the Jabiluka uranium mine in the Northern Territory will not be renewed, based on advice from the Federal Government. ERA applied for a 10-year renewal for the mine, which it previously held for 42 years. A planned Reserved Land area prevents future mineral titles over Jabiluka, according to a May announcement from the Northern Territory Government. The Reserved Land area will come into effect when ERA’s current lease expires on August 11. Northern Territory Mining Minister Mark Monaghan comments on the decision. “We have gone through...

Coal to remain in demand: BMA’s Adam Lancey Queensland’s competitive position in the energy transition was highlighted at the 2024 Queensland Mining Awards. BHP Mitsubishi Alliance (BMA) asset president Adam Lancey says Queensland has become one of the biggest global players in the resources arena. “Across the mining industry we’re facing challenges — inflation pressures, disruption to supply chains, labour constraints, changes to policy and the need to accelerate the global energy transition,” he said. “Despite operating in an environment that is rapidly changing, we continue to...

Fortescue’s record June quarter Fortescue (ASX: FMG) has released its Q4 performance, highlighting record iron ore shipments totalling 191.6mt in FY24. The record iron ore shipments of 53.7mt in Q4 were 10% higher than Q4 FY23. Fortescue Metals chief executive Dino Otranto says this has been an outstanding quarter. “This record result demonstrated the efficiencies gained through our recovery plan following the ore car derailment in December 2023,” he said. “Looking ahead to FY25, we’re seeking to achieve record shipments with guidance of 190 – 200mt. “As part of bringing together...