Latest News

Mincor awards haulage contract to Kooda Contracting Mincor Resources (ASX: MCR) has awarded its haulage contracts for its Kambalda nickel operations in WA to Kooda Contracting. The Kalgoorlie-based contractor will be responsible for carting and blending nickel ore from both of Mincor’s mining operations to the Kambalda nickel concentrator until 31 December 2025. Mincor’s Kambalda nickel operations comprise the flagship Cassini nickel mine (a greenfields discovery by Mincor), the Northern operations (Long and Otter Juan/Durkin North mines) and the Miitel mine. In FY22, underground development continued at both the Cassini and the Northern Operations, with extraction of the first nickel development ore at Cassini...

Australian Workers' Union proposes critical minerals export tax to foster domestic value-addition The Australian Workers' Union (AWU) intends to propose a tax on unprocessed exports of critical minerals at the upcoming ALP National Conference. This resolution aims to promote domestic refining, processing and manufacturing of these valuable resources. The AWU argues that Australia's current strategy of exporting raw critical minerals to China compromises national interests and highlights the need to develop a robust domestic capacity for transforming these minerals into high-value products. The AWU is advocating for a significant tax on the export of raw critical minerals, including lithium, cobalt and rare earths. The union believes that the current unrestricted export approach undermines Australia's strategic advantage and economic potential. By...

Pursuit Minerals receives approval for large Mito tenement at Rio Grande Sur lithium project Pursuit Minerals Limited (ASX: PUR), a mineral exploration and project development company, has recently announced a significant development in its Rio Grande Sur project. The company has received formal approval and granting of the Mito tenement from the Salta Mining Secretary. This approval marks a crucial milestone for Pursuit Minerals as it paves the way for further exploration and drilling activities in the highly prospective Rio Grande Salar region of Argentina. The Mito tenement, located in the north-western area of the Rio Grande Salar, holds immense strategic importance for Pursuit Minerals. The tenement is situated adjacent to a site where recent exploration drilling has yielded positive...

Alcoa multi-year agreement with Emirates Global Aluminium Alcoa (NYSE: AA) will soon be the largest third-party supplier of alumina to Emirates Global Aluminium (EGA), the largest industrial company in the United Arab Emirates outside of oil and gas, after signing a new eight-year agreement to provide as much as 15.6mt of smelter grade alumina from WA. EGA operates...

Newmont's acquisition of Newcrest moves forward, creating an industry-leading gold producer Newmont (NYSE: NEM), a prominent US gold company, has secured its acquisition of Newcrest (ASX:NCM), an Australian mining firm, following a three-month battle. The deal, valued at $26.2b, involves Newmont acquiring 100% of the issued shares in Newcrest through a scheme of arrangement. Shareholders of Newcrest will receive 0.400 Newmont shares for each Newcrest share held, translating to a value of $29.27 per Newcrest share or an equity value of $26.2b. The Newcrest board has unanimously recommended that shareholders vote in favour of the Newmont takeover, with a meeting scheduled for September or October. Upon completion, Newcrest shareholders will hold a 30.1% stake in the new combined entity, solidifying...

AngloGold Ashanti to voluntarily delist from the ASX AngloGold Ashanti Limited (ASX: AGG) has received formal approval from the Australian Securities Exchange (ASX) to be delisted from the ASX, with the expected date being Tuesday 27 June 2023. The company will continue to trade on the Johannesburg Stock Exchange (JSE) and A2X, on the New York Stock Exchange (NYSE) and on the Ghana Stock Exchange (GhSE). The company cites “ongoing low trading frequency and low volumes of its securities traded on the ASX compared to that of, in particular, the JSE and NYSE”. AngloGold Ashanti wholly-owns the Sunrise Dam operation and has a 70% holding in and manages the...

Rio Tinto Exploration-Trek Metals agreement to explore Jimblebar nickel-copper project Rio Tinto Exploration (RTX), wholly-owned subsidiary of the mining giant, has entered into an agreement with Trek Metal (ASX: TKM) to explore Trek’s Jimblebar nickel-copper project in the Tier 1 Pilbara mining region of WA. During an initial option period, RTX may elect to farm-in to the project to earn an 80% joint venture (JV) interest by sole funding $5m in exploration expenditure. Upon completion of the 80% earn-in sole funding period, an 80/20 JV will be established whereby RTX will free-carry Trek Metals until the earlier of delivery of an “Order of Magnitude”...

Core Lithium's milestones propel Australian lithium industry towards a renewable future In an increasingly renewable-focused world, Core Lithium's (ASX: CSO) recent milestones not only solidify its position in the global lithium market but also drive the Australian lithium industry towards a sustainable future. The granting of mining authorisation for the BP33 underground project and the commencement of the maiden shipment of spodumene concentrate underscore Core Lithium's commitment to meeting the rising global demand for lithium, a crucial resource for renewable energy technologies. Australia is known for its rich lithium deposits, and Core Lithium is at the forefront...

Mining investment crucial for Australia's economic growth Minerals Council of Australia chief executive Tania Constable has emphasised the pivotal role of mining investment in driving Australia's economic growth. In a statement, Ms Constable highlighted the significant contribution of the minerals industry to the country's prosperity and urged the Federal Government to prioritise policies that support and attract investment in the sector. Australia's minerals industry has been the backbone of the economy, generating substantial export earnings and tax revenue, and laying the foundation for this year's Federal Budget surplus. Ms Constable stressed that sustaining this economic success requires a renewed focus...

Pilbara Rail Maintenance co-founder and director Chris Prior wins 40under40 award Chris Prior, the co-founder and director of Pilbara Rail Maintenance (PRM), has recently been honoured with the WA Business News 40Under40 Award for 2023. This award recognises exceptional business leadership and innovation for professionals under the age of 40 who have demonstrated remarkable success in their respective fields. The award was presented to Mr. Prior during a gala event held at Crown Perth on Friday night, where he was unveiled as one of the 40 winners. Pilbara Rail Maintenance, a 100% Australian-owned and operated company, provides secure and economical solutions for rail construction, maintenance, and civil services to mining and civil contractors and companies in Australia. As one of...

WA commits $3b for cleaner energy as mining giant welcomes Hydrogen Headstart Australia is making progress towards decarbonising its industries and achieving net-zero emissions by 2050, with two recent developments highlighting the country's efforts to transition towards a cleaner energy future. WA has announced a $3b investment to combat climate change and transition towards a low-carbon future. The investment focuses on energy storage, wind power generation, and transmission network upgrades, with a goal of ensuring a stable and secure energy supply for its residents. In addition, Fortescue (ASX: FMG), one of the world's most successful iron...