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BHP records 37% drop in profit despite “strong” financials Despite recording “strong” financial results, the ASX’s largest tock BHP (ASX:BHP) tabled underlying attributable profit of US$13.4b (A$20.9b) for FY23, down 37% from FY22. Revenue was down 17% from FY22 to US$53.8b (A$83.9b) while attributable profit — total operations decreased 58% to US$12.9b (A$20.1b). BHP credits these decreases due to lower prices across iron ore, metallurgical coal and copper. Chief executive Mike Henry commented on the company’s performance. “Our financial results for the year were strong, underpinned by reliable production together with capital and cost discipline as we managed lower commodity prices and inflationary...

Alcoa combats hose failures, invests to reduce leaks and spills Alcoa has nearly halved the amount of spills from its fuel, hydraulic fluid and other hydrocarbons over the past four years at its bauxite operations in the Peel region of WA. And the company says it is on track to cut spills by up to 60% by the end of 2023. The results at Alcoa’s Huntly and Willowdale bauxite mines are due to measures including adopting a rigorous preventative maintenance schedule that far exceeds manufacturer recommendations, better training for personnel and introducing more regular inspections of mobile equipment. With a focus on maintaining its...

Monitoring wind, gas density and temperatures together better predicts mine disasters: new study Greater monitoring of wind, gas density and temperatures in coal mines can help reduce the risk of disasters, according to a new joint study with Charles Darwin University (CDU) and University Technology Sydney (UTS). The study, An FSV analysis approach to verify the robustness of the triple-correlation analysis theoretical framework, focused on developing a gas monitoring system which takes a holistic approach to assessing wind, gas and temperature conditions. The project used data from a large Global Fortune 500 listed mining company in China, which held...

Classic Minerals to begin trial mining exercise at Kat Gap Following the extraction of a bulk sample last year, Classic Minerals (ASX:CLZ) is set to begin a trial mining exercise at its Kat Gap gold project. The trial mining will test the veracity of the recently announced indicated resource and provide Classic with data it needs to derive an ore reserve. It will also aid in the calibration of mining and metallurgy parameters prior to full-scale mining and production. Classic will likely trial mine a good portion of the oxide component of the indicated resource to a depth of 45m. The trial pit is expected to take around...

Battery Age Minerals joins European Raw Materials Alliance Battery Age Minerals (ASX:BM8) has been accepted to join the European Raw Materials Alliance (ERMA). The ERMA was created by the European Commission to foster collaboration and provide European countries strategic access to the critical raw materials (CRM) supply chain. ERMA’s plan on critical raw materials is to develop resilient value chains for European Union (EU) industrial ecosystems, reduce dependency on primary CRMs, strengthen domestic sourcing of raw materials in the EU and diversify sourcing from third countries. Battery Age Minerals holds claims adjacent to the historical Bleiberg mine which is proven to have some of the world’s highest germanium grades (up...

Strandline Resources ships first delivery of chloride ilmenite Strandline Resources (ASX:STA) has shipped its first delivery of chloride ilmenite product from its Coburn mineral sands project in WA. This first shipment is part of commissioning and ramp-up of Coburn’s downstream mineral separation plant (MSP). The MSP is designed to separate the heavy mineral concentrate (HMC) produced from Coburn’s wet concentration plant (WCP) into valuable critical minerals such as zircon and titanium as well as a zircon in concentrate product. The 6000 metric tonne shipment was loaded at the Port of Geraldton in bulk cargo form. The shipment is on route to Strandline’s offtake customer in America and is expected...

Orexplore Technologies signs $1.55m agreement with BHP Mineral scanning technology company Orexplore Technologies (ASX:OXT) has signed a $1.55m agreement with BHP (ASX:BHP). The agreement will see the deployment of Orexplore’s mobile field scanning installation and technology platform to BHP’s Carrapateena mine in South Australia. Under the agreement, Orexplore will deliver site-based drill core and sample digitisation services for BHP. The work will focus on unlocking new rock mass characterisation and geometallurgical information to advance the short and medium-term mining and operational planning and decision processes. Orexplore’s “Smart Domaining” solution will additionally enable improved orebody knowledge across the deposit to drive improved modelling, with drivers for downstream mining, processing and reconciliation...

Drilling initiative set to address WA’s mineral discovery rate A collaborative drilling initiative is set to address WA’s declining mineral discovery rates by mapping and defining potential mineral systems to remote underexplored regions. The Geological Survey of Western Australia (GSWA) is working with the MinEx Cooperative Research Centre as part of the National Drilling Initiative (NDI), an ongoing pre-competitive geoscience program. While it’s not an exploration program, the initiative aims to reduce the financial and technical risks of exploration and increase the level of industry investment by providing high-quality precompetitive geoscience data. Phase one is underway at the Nifty copper operation, which is currently under care and maintenance,...

Lithium Universe to use AI for Apollo exploration Newly listed Lithium Universe (ASX:LU7) has begun using artificial intelligence (AI) for exploration at the Apollo lithium project. Working with KorrAI Technologies in Canada, the AI will help guide LU7 field teams to focus on specific locations with high potential. KorrAI’s technology uses satellite data and AI to enhance field exploration practices, optimise time spent in the field, optimise cost and improve exploration outcomes. Their approach involves using AI to process and analyse satellite data and images, and by using advanced algorithms, KorrAI has created maps that show different geological features such as outcrops, pegmatites and vein formations. The successful...

Classic Minerals and Bellevue Gold pour inaugural gold bars Two WA gold mining companies have poured their first gold bars, marking a significant milestone for both. Classic Minerals Classic Minerals (ASX:CLZ) has cemented itself as a producer with the inaugural gold bar poured from the Kat Gap gold project in WA. Classic’s Gekko Systems advanced gravity separation circuit played an instrumental role in the production of the inaugural gold bar. The gravity circuit is a predecessor to the planned carbon-in-leach (CIL) process which is currently under construction and installation. On completion, the CIL process is projected to further enhance Classic’s gold recovery rates to...

Newmont receives clearance from KFTC for Newcrest acquisition Newmont has received clearance from the Korea Fair Trade Commission (KFTC) to proceed with its proposed acquisition of Newcrest Mining (ASX:NCM). Earlier this month, Papua New Guinea’s Independent Consumer and Competition Commission cleared the proposed acquisition while the Canadian Competition Bureau issued a “no action” letter in July clearing the transaction. Other regulatory approvals to be secured include the Australian Competition and Consumer Commission, the Australia Foreign Investment Review Board, the Japan Fair Trade Commission and the Philippine Competition Commission. Additionally, Newmont and Newcrest are continuing engaging with the Papua New Guinea Government and regulators regarding other approvals and clearances for the transaction. The...