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AUSTRALIAN gold miner St Barbara has lowered its production target to 370,000-400,000oz for the financial year ending June 2020, from 380,000-420,000oz for the period previously. Gold production for the Australian-listed miner slipped to 94,000oz in the quarter period ended December 2019, from 112,000oz in the corresponding October to December 2018 period. All-in sustaining cash costs for St Barbara rose to $1364/oz in the December 2019-ended quarter, compared with $1053/oz in the December 2018-ended quarter. The miner is forecasting its all-in cash costs for gold production for the 2020 financial year will range from $1330/oz to $1420/oz, compared with its previous forecast of $1240/oz to $1330/oz. At the company’s flagship Gwalia mine at Leonora in WA, gold production was 42,000oz in…

FIRST Quantum Minerals expects to ship its first nickel concentrate from its mine in Ravensthorpe, WA, by April this year. The first shipment of sulphur, a vital component of nickel production, arrived through the Esperance port last week. The Canadian company has made significant upgrades to the processing plant since acquiring it in February 2010 for the cut-throat price of $340m. The plant cost BHP Billiton $3b to build and commission. When it was closed in 2017, it was the nickel project’s second major closure and loss of jobs. The mine is wholly owned by First Quantum and currently employs around 250 people with another 100 jobs projected to be filled. Locals and residents from the vicinity have filled many…

BHP is maintaining its production guidance for its WA iron ore operations at between 273mt-286mt on a 100pc basis for the June 2020-ended financial year. In the first half of the 2020 financial year, BHP produced 137mt of iron ore from its WA operations on a 100pc basis, 2pc higher year on year, after the completion of a major rail car dumper maintenance program in October. Iron ore production volumes at its WA mines in the July-December 2018 half year were affected by a train derailment. Copper production for BHP rose 7pc in the first half-year period to 885,000t on strong concentrator throughput at its Escondida mine in Chile, and higher production from its Olympic Dam mine in Australia. Company…

IN a significant improvement to the intercept grades, Westgold (ASX:WGX) has received screen fire assays for its Great Fingall mine near Cue in WA, with exceptional figures returned. Westgold sees this drilling as proof that the stratigraphic controls to mineralisation remain in place. It believes that the significant high grades that were produced historically at this site have been returned at greater than twice the former depth and plunge continuity is established at the high-grade Great Fingall Reef. The results have Great Fingall Reef upgraded to 1.57m at 10.10g/t up from 7.95g/t from 1642.18m, 3.1m at 34.05g/t up from 20.17g/t from 1439.7m and 4.35m at 3.27g/t from 1,493.22m at Great Fingall Hangingwall Lodes. Abundant specks of visible gold have been…

AUSTRALIAN nickel producer Western Areas has completed two offtake deals for its WA high-grade Forrestania Nickel Operation concentrate product which is a feedstock for the electric vehicle battery market. The ASX-listed company said the offtake-deals are with BHP’s Nickel West subsidiary in WA, and Hong Kong-listed Chinese nickel company Jinchuan Group, and both were awarded by Western Areas following a competitive tender process. Western Areas managing director Dan Lougher said the company was pleased with its new contracts that extend its relationship with BHP and reintroduces Jinchuan as an offtake customer. “It is notable that both of our offtake customers are involved in the downstream operation of nickel smelters,” he said. “Western Areas firmly believes that the smelting of concentrates…

FYI Resources’ kaolin project in WA has received formal approval for its Mining Proposal (MP) and Mine Closure Plan (MCP) from the WA Department of Mines. This represents a significant step toward the development of the FYI 100pc-owned ML70/1388 high purity alumina (HPA) project. FYI managing director Roland Hill said that now that this milestone has been reached, the company was waiting on only minor regulatory approvals. “FYI will continue progressing its HPA strategy in anticipation of arranging full project funding and a formal decision to mine from the FYI Board,” he said. The approval covers the planned mining, processing, site infrastructure, waste facilities, haul roads and other construction required. The granting of the MP and MCP follows approvals in…

GOLD peaked to a near seven-year high of US$1579.72 after the US launched a deadly attack against Iranian military leader Major General Qassem Soleimani. The destabilising effect on the international market was swift, and was the latest in a string of contributing factors that has continued to drive investors to gold as a safe-haven metal to protect against market downturn. The price spike has come after a momentary lapse in gold’s momentum in Q4 2019, surging to its highest price since April 2013. The assassination of General Soleimani has escalated international fears that tensions between Washington and Tehran could spill over into a new war in the Middle East. The targeted attack was given the go-ahead by US president Donald…

THOR Mining (ASX:THR) has announced pleasing results at its wholly-owned Pilbara Goldfield tenement, with gold, nickel and chromium assays from preliminary geochemistry reconnaissance. After strong results from the initial gold panning, laboratory results have subsequently given support to gold potential as well as nickel and chrome at the location. Three samples assayed over 0.3g/t gold, with one at 0.9g/t gold. Visible gold was present in thirteen out of forty-four samples from sediment trap sites. Nickle and chromium anomalies were also observed at up to 1272ppm Ni and 2074ppm Cr. The program comprised stream sediment trap site sampling comprising coarse and fine fraction sediment. Executive chairman Mick Billings said he was encouraged by the results of the initial reconnaissance which led…

THE opening of The Critical Minerals Facilitation Office, announced by Resources and Northern Australia Minister Matt Canavan last week, aims to untap Australia’s rich resource of critical mineral deposits. The new facility will be led by Jessica Robinson, a former senior official in Treasury and Prime Minister and Cabinet. The Office bases its strategy targets actions in three areas: to promote investment in Australia’s critical minerals sector and downstream processing; provide incentives for innovation to lower costs and increase competitiveness; and connect critical minerals projects with infrastructure development. This will be achieved by coordinating and connecting government, industry and the research sector. Ms Robinson said her mission is to work with the sector to develop a clear, shared vision for…

LYNAS Corporation (ASX: LYC) is facing a new wave of judicial proceedings in Malaysia over its subsidiary, Lynas Malaysia’s rare earths processing facility. In a statement released to the ASX after the market had closed on Friday, the company said that three long-term opponents of the plant launched the judicial review proceedings in the Malaysian High Court, and would contest the August 2019 decision to renew Lynas’ full operating licence at the processing plant near Kuantan, Pahang, on the country’s east coast. The company said that the grounds set out in the documents “relate to the processes followed by the Government of Malaysia”. The respondents included the Prime Minister of Malaysia, 27 ministers and cabinet members, the Government of Malaysia,…

POSITIVE steps towards progressing Kogi Iron’s Agbaja steel project in Nigeria have been announced, including a recent $3.2m fundraising toward the financial completion of the feasibility study. The Project, located at Agbaja in Central Nigeria, will potentially produce 1mt of cast steel feedstock annually. A fourth lease has been granted by the Mining Cadastre Office, FRN which will deliver a contiguous tenement package on the Agbaja Plateau of around 145sqkm. Kogi Iron Limited managing director David Turvey said the company had achieved another milestone as it moved forward to becoming an integrated steel producer in Nigeria. The new funding commitments include $860,000 in new equity from current shareholders, endorsing the project’s strong potential. Board members have continued to meet with…