Latest News

Fortescue and Magmatic Resources partner up for Myall project Magmatic Resources (ASX: MAG) and FMG Resources — a subsidiary of Fortescue (ASX: FMG) — have executed farm-in and joint venture agreement at the Myall project. Located in central NSW, the project comprises of a continuous 244sqm tenement which covers the northern extension of the Junee-Narromine volcanic belt. It hosts significant porphyry-associated copper-gold mineralisation and has a mineral resource estimate of 110mt at 0.27% copper, 0.07g/t gold and 0.8g/t silver. Fortescue can earn an initial 51% interest in the Myall project by spending $6m in exploration across a four-year period. FMG can then earn an additional 24% interest (for a total interest...

New WA lithium mine set to boost State’s battery mineral credentials A new lithium mined which recently opened in WA is set to boost the State’s credentials as a battery hub. Joint venture partners Covalent Lithium, Wesfarmers and Química y Minera de Chile (SQM) were congratulated by the State Government on the successful opening of the Mt Holland lithium mine and concentrator project. WA Premier Roger Cook, WA Treasurer Rita Saffioti and WA Mines and Petroleum Minister David Michael were on site to celebrate the occasion. Located 110km southeast of Southern Cross in the Wheatbelt region, the Mt Holland lithium project consists of an open-cut mine and concentrator with a refinery...

Maiden gold pour completed at Menzies The first gold bars have been poured at Brightstar Resources’ (ASX: BTR) Menzies gold project in WA. This gold pour marks Brightstar’s first gold from the Selkirk joint venture. Brightstar has a 50:50 profit sharing joint venture with BML Ventures to exploit the Selkirk deposit at Menzies which has a mineral resource estimate of 11,500oz at 2.15g/t gold. BML is responsible for all capital costs, mining and haulage, and the joint venture has a toll treating agreement with St Barbara (ASX: SBM) to process ore from Selkirk at Leonora. Brightstar managing director Alex Rovira says the company...

Fenix Resources completes first Twin Peaks iron ore shipment Fenix Resources (ASX:FEX) has hauled, loaded and shipped the first shipment of iron ore from the Twin Peaks direct shipping iron ore project in WA. This first shipment contained 59,275t of +60% iron “Fenix TP lump” direct shipping ore and product from Twin Peaks will boost Fenix’s iron ore production and revenues. In November 2023, Fenix executed an ore purchase agreement with 10M, granting it the right to purchase 500kt of high-grade ore from Twin Peaks. Under the agreement, 10M is responsible for all mining and processing activities up until the...

First drill program in 10 years begins at Yundamindra The first drilling program at the Yundamindra gold project in 10 years is set to begin to follow up outstanding near surface drill intersections. Situated 65km southeast of Leonora in WA, the Yundamindra project is held 80% by Metalicity (ASX:MCT) and 20% by joint venture partner Nex Metals (ASX:NME). Prior to 1970, Yundamindra had high grade production of 74kt @ 19.3g/t gold for 45,000oz with structures hosting visible fine gold mineralisation within laminated quartz veins. Previous significant results include 8m @56.36g/t gold from 44m, 1m @ 48.1g/t gold from 12m and 2m @39.49g/t gold from 31m. The most recent drilling, which was undertaken...

Up to $3m worth of exploration grants available in the Northern Territory Applications are open round 17 of the Northern Territory Government’s Geophysics and Drilling Collaborations program with up to $3m in grants available to advance exploration. The grants aim to address geoscientific knowledge gaps, advance exploration activity and support the discovery and development of resources in the Territory. More than half of the $3m will be directed towards projects targeting commodities on the Northern Territory’s critical minerals list which has seen two new critical minerals added — gallium and graphite. A silver-white metal, gallium has multiple uses, including in integrated circuits, lasers and LEDs. This new critical mineral was recently...

Mine Dewatering: An essential process for ensuring Safety and continuity in mining operations Effective dewatering is crucial for ensuring the safety and productivity of mining operations, particularly when extracting minerals below the water table or in open mines prone to rainfall. A strong dewatering plan is not only beneficial – it is absolutely essential. Understanding Mine Dewatering Challenges The process of dewatering in mining plays a pivotal role in maintaining safe and efficient working conditions by extracting water from underground and surface areas. Its primary purpose is to prevent flooding, groundwater seepage, and destabilisation of excavation sites. Additionally, it facilitates access to mineral deposits and extraction processes. Dewatering is essential for both open-pit and underground mining operations to prevent equipment...

Capricorn Metals announces record half-year profit  Capricorn Metals Ltd (ASX: CMM) announced its half-year profit before tax increased by 35% to $78.8 million over the previous corresponding period (pcp), a record half-year result for the gold miner.   The miner’s profit increase was buoyed by a rise in sales of 7%, to 60,341 ounces, on the back of a strong six months of operations at the Karlawinda Gold Project.   The Karlawinda Gold Project (KGP), located 65 kilometres south-east of Newman in the Pilbara region of Western Australia, commenced operations in June 2021, and has a 10-year mine life on current reserves.   “The KGP had a strong...

Gov needs to do more to promote green explosives, new study finds  A new report from the Institute for Energy Economics and Financial Analysis (IEEFA) has found that a government incentive program would accelerate the adoption of green explosives by miners.  Miners consume about half of Australia’s ammonia through explosives and a shift to green explosives could be done with a minimal increase in operating costs.  The IEEFA report found that by switching ammonia production facilities from fossil gas to green hydrogen Australia could lead the world in the production of green ammonia and lay the foundation for a new green hydrogen industry.  IEEFA Australia...

BlueScope eyes South32’s $2.53b coal deal BlueScope Steel Limited (ASX: BSL) has announced it is considering its option to weigh in on South32 Limited’s (ASX: S32) plan to sell its Illawarra Metallurgical Coal business.  South32 announced yesterday that it had agreed to sell its Illawarra Metallurgical Coal (IMC) business for $2.53b ($US1.65 billion) as the miner presses ahead with its strategy to move away from coal to focus on zinc and copper.   The BHP spinoff agreed to sell the coal business to an entity owned by Golden Energy and Resources (GEAR) and M Resources, building on GEAR’s metallurgical coal holdings in Australia, in the deal expected...

AMEC continues push for Australian production tax credit The Association of Mining and Exploration Companies (AMEC) led a delegation of companies to Canberra as it continues to press the Federal Government for a production tax credit (PTC).   The delegation included representatives from mining and exploration companies crucial to the critical minerals sector, such as Wyloo Metals, IGO, Australian Vanadium, QEM, Pilbara Minerals, and Tesla.   AMEC chief executive Warren Pearce says the meetings provided “an opportunity to relay the real struggles facing the industry at the moment”.   “It also sends a strong message to the Federal Government that the time for action is now.   “The upcoming...