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Newcrest progresses Chilean project

InternationalNews

Newcrest progresses Chilean project

BY JESSICA CUMMINS NEWCREST Mining has entered into the farm-in stage of its agreement with Mirasol Resources’ Altazor gold project in Chile. The two companies first signed an option and farm in agreement in November 2017, which saw Newcrest set to acquire up to 80 per cent of the project by completing a series of exploration and development milestones. After completing an aggressive exploration program comprising systematic soil sampling, detailed geological mapping, magnetics and electrical geophysics last year, Newcrest presented an exploration budget totalling $US3.3 million for this season’s exploration program. Exploration works would be focussed on a maiden drilling program, subject to obtaining applicable permits and permissions. Mirasol president and chief executive Stephen Nano said the company...

Yandal Resources’ IPO hopes

Yandal Resources’ IPO hopes

Yandal Resources Flinders Park South outcrop. Image: Yandal Resources. BY JESSICA CUMMINS GOLD explorer Yandal Resources hopes to be listed on the ASX by December this year after launching a $5 million initial public offering (IPO). With a suite of top quality gold projects in the Yandal greenstone belt in WA, the miner hoped to raise funds to retest and extend upon historic exploration work. Yandal Resources managing director Lorry Hughes said the company had received a “fantastic” response from investors to date. “We expect to have a very big first half of the year next year where we will be looking to conduct major drill programs on our projects,” Mr Hughes told The Australian Mining Review. Among...

Pilgangoora Stage 2 approved

DevelopmentsNews

Pilgangoora Stage 2 approved

BY JESSICA CUMMINS PILBARA Minerals has approved a $231 million expansion of its Pilgangoora lithium-tantalum project in the WA Pilbara. Subject to regulatory approval and financing, the expansion was set to grow production to more than 800,000 tonnes per annum, and increase processing capacity to 5 million tonnes per annum (mtpa). Following the completion of its Definitive Feasibility Study in August, the company confirmed 100 per cent of the Stage 2 offtake would be sold to customers including POSCO, Ganfeng Lithium and Great Wall Motor Company. Stage 2 works have begun, and the company has already placed long lead orders for major equipment to allow it to meet its objective of commissioning from the December quarter 2019. The...

Mount Peake granted mineral lease

DevelopmentsNews

Mount Peake granted mineral lease

BY AMY BLOM TNG Limited’s Mount Peake mine is a step closer after the Northern Territory Government granted the company a mineral lease on 21 November. Mount Peake, 235km north of Alice Springs, had the potential to create up to 500 jobs during construction and between 175 and 250 ongoing roles during operation. The mine, granted major project status by the NT Government, has already completed the NT Environmental Impact Assessment process and received Federal Government environmental approval under the Environment Protection and Biodiversity Conservation Act. TNG Limited managing director Paul Burton said the company was rapidly ticking off the boxes towards the Mount Peake development, with key announcements over the past few months, including the signing of...

Ironbark mine gets approval

DevelopmentsNews

Ironbark mine gets approval

BY ELIZABETH FABRI FITZROY Australia Resources has received the green light from the QLD Government to develop its Ironbark No. 1 coal mine in the Bowen Basin, QLD. The 6 million tonne per annum (mtpa) underground longwall coking coal project, formerly owned by Vale and known as Ellensfield, was purchased by US-backed Fitzroy Australia Resources in November 2016. With mining leases granted, the project was now scheduled to enter production in 2020, and operate for an estimated 20 years. The project would be a “low impact development”, sharing major infrastructure with Fitzroy Australia’s nearby Carborough Downs mine. Fitzroy Australia Resources chief executive Grant Polwarth said the approval enabled it to pursue its expansion in the region, and would...

Coal demand strong: report

CommoditiesNews

Coal demand strong: report

BY JESSICA CUMMINS DEMAND for coal will continue to grow through to 2040, according to the latest World Energy Outlook (WEO) report by The International Energy Agency (IEA). The WEO estimated the growth in demand for coal in the Asia Pacific region would increase by 492 million tonnes of coal equivalent (mtce)within the next 22 years. This included substantial growth in India and Southeast Asia, which counteracted projected falls in China and Japan. Federal Resources and Northern Australia minister Matt Canavan said the IEA had forecast Australia’s net exports of coal would grow by about 20 per cent to 430 mtce by 2040. About half of those exports would be metallurgical coal. Mr Canavan welcomed the IEA report...

Arafura to build processing plant in NT

DevelopmentsNews

Arafura to build processing plant in NT

BY ELIZABETH FABRI NEODYMIUM and praseodymium explorer Arafura Resources has announced it will build a $US80 million separation plant for its Nolans rare earths project in the Northern Territory as opposed to overseas. The company has been determining the feasibility of the location of the plant for years, with the preferred site originally an industrial estate in South Korea. NT chief minister Michael Gunner said the Government had been working with Arafura throughout the year to secure the plant for the Territory. “Creating local jobs is the Territory Government’s number one priority. “This announcement is a significant vote of investor confidence in the NT and will contribute to the creation of around 500 construction jobs with 350-370...

Commodity Focus: Iron Ore

CommoditiesNews

Commodity Focus: Iron Ore

BY ELIZABETH FABRI WHILE iron ore prices are set to slump in the coming years, Australia’s big four players – BHP, Rio Tinto, FMG and Hancock Prospecting – remain confident, pouring capital into new projects to sustain and bolster production post-2020. IRON ore exports hit a new record in FY18, reaching an impressive 849 million tonnes; up 3.8 per cent from the previous year. This number is forecast to rise again, increasing by a further 2.3 per cent to 869mt in FY19, and up to 878mt in FY20, according to the September instalment of the Resources and Energy Quarterly report. The higher export volumes will be brought on by continued efficiencies across the majors’ operations including the introduction...

MCA push to reduce uranium red tape

CommoditiesNews

MCA push to reduce uranium red tape

BY ELIZABETH FABRI THE Minerals Council of Australia has urged the Federal Government to revise its “unfair and discriminatory” treatment of uranium mining in an upcoming review of the Environment Protection and Biodiversity Conservation (EPBC) Act due next year. Analysis released in October by the council, found that issues related to uranium mining, including radiation safety, were not unique to the commodity, and environmental impacts were generally the same as those for mining other metals. It also stated proliferation concerns were already dealt with by other legislation and treaties. “Under the EPBC Act, two mines with identical impacts are treated differently merely because of the commodity that is being mined,” MCA executive director uranium Daniel Zavattiero said. “Australia...

BHP drones take flight at sea

NewsTechnology & Innovation

BHP drones take flight at sea

BHP vessels near Port Coloso in Chile. Image: BHP. BY ELIZABETH FABRI BHP has begun trialling drones across its ocean freight operations in an effort to increase safety and efficiencies for the business. The global mining giant has been using drone technology for years across its iron ore mines in the Pilbara, Olympic Dam site in South Australia and coal operations in QLD to help measure stockpiles, and avoid working at height. The trial across it ocean freight division will see it play a key role in a tablet-based technology package, which incorporates artificial intelligence (AI) to provide a “digital view” of the ship. BHP Marketing Freight vice president Rashpal Bhatti said all of the company’s chartered...

South32 posts record production

South32 posts record production

South32 reported record production from its manganese operations in the September quarter. Image: South32. BY AMY BLOM SOUTH32 has more than tripled metallurgical coal production in the first quarter of FY19 compared to the first quarter of FY18, according to its September quarter report. Production at Illawarra rose to 1.5 million tonnes (mt) in the Q1 up from 494,000 tonnes in the previous year. Despite the jump, South32 believed a significant increase in development rates was still required to sustain the operation of two longwalls in parallel at the Appin colliery from H2 FY20. South32’s Australia Manganese division also achieved a record quarterly performance of 932,000 tonnes and an 8 per cent increase quarter-on-quarter in total manganese ore production...