Latest News

A doubling of iron ore prices helped BHP swing back into profit for the second half of 2016. By Cameron Drummond BHP has reported a half year profit of $US3.2 billion, facilitated by a broad-trend commodity price resurgence and operational cost reductions. Results from the world’s biggest miner were slightly better than analysts’ expectations of $US3.1bn. Its underlying profit for H2 2016 surged to $US3.2bn from $US412m year-on-year due to higher than expected commodity prices and cost reductions across its operations. This marked a huge turnaround from BHP’s first reported half year loss in 16 years of $US5.67bn, recorded in H1 2016. “This is a strong result that follows several years of a considered and deliberate approach to improve productivity...

AusQuest carrying out works at its Fraser Range prospects. Image: AusQuest. By Elizabeth Fabri SOUTH32 has signed an agreement with AusQuest to develop high-potential exploration opportunities in Australia and overseas targeting copper, zinc and nickel. Under the deal, South32 would fund exploration activities over at least five AusQuest projects in Australia and Peru, which would be offered exclusively to South32 over a three year time frame, subject to financial conditions. Projects of interest included Jimberlana and Balladonia/Gibson Soak nickel-copper projects and the Blue Billy Project in WA, and Chololo and Los Otros porphyry copper prospects in Peru.AusQuest said a work program and budget to advance each project to a drill-ready stage would be agreed by the parties and South32 would...

By Elizabeth Fabri GLOBAL mining exploration expenditure has taken a dive for the fourth consecutive year, accounting for less than a third of the record-high 2012 spend and reaching an 11 year low. In its March Worldwide Mining Exploration Trends report S&P Global Market Intelligence stated the budget for nonferrous exploration in 2016 declined 21 per cent year-on-year to  $US6.89 billion; however, it said the past three quarters have brought “signs of optimism” for the long struggling industry. “Since last March, exploration companies have increasingly been able to raise funds, which represents a marked improvement over recent years,” the report stated. “Despite recent concern over the availability of finance as we enter 2017, S&P Global Market Intelligence is cautiously optimistic...

Image: Tesla. By Cameron Drummond ONE of the best performing commodities of 2016 was undoubtedly lithium, burgeoned by Tesla Motor’s construction of a lithium-ion battery gigafactory in the Nevada desert, which it fired up in the first week of this year. Tesla, partnering with Japanese electronics company Panasonic, predicts that the factory will be producing 35 gigawatts (GW) of lithium-ion batteries each year by 2018 for use in electric vehicles (EV’s) and energy storage systems – double the rest of the world’s current production rate. Lithium has a range of commercial and industrial uses, such as the manufacture of glassware and ceramics; though by far the fastest growing application is for batteries. Technological advancements in battery-making had seen the spot...

BHP Billiton was one of the miners that would be working together with the university research teams. Image: BHP Billiton. By Elizabeth Fabri FOUR university research projects aimed at enhancing innovation in the resources sector have received $1.875 million in funding from the Turnbull Government’s Linkage Project scheme. The University of Queensland was the recipient of three of the four grants, which included $550,000 towards Associate Professor Yongjun Peng’s research into more efficient and economical mineral separation and metal extraction with Newcrest Mining, Vega Industries and Sierra Gorda SCM; $450,000 towards Dr Steven Pratt’s project of advancing knowledge of Coal Seam Gas (CSG) water treatment; and $195,000 towards Professor Peter Hayes and Professor Evgueni Jak’s project with BHP Billiton that would provide...

Mount Thorley Warkworth in the Hunter Valley was one of the mines that would be sold. Image: Rio Tinto. By Elizabeth Fabri CHINESE–owned Yancoal Australia has entered a binding agreement with Rio Tinto to purchase its wholly-owned subsidiary Coal & Allied Industries for $US2.45 billion. Subject to regulatory Government and shareholder approvals, the deal would see Yancoal acquire a 100 per cent interest in Coal & Allied through an initial $US1.95bn cash payment at completion; $500 million in aggregate deferred cash payments; and coal price linked royalty. Coal & Allied owned and operated multiple, multi-seam open cut mines in the Hunter Valley, with a 67.6 per cent interest in the Hunter Valley Operations mining complex (HVO); 80 per cent interest...

The Yeelirrie project is touted as one of the largest uranium deposits in Australia. By Cameron Drummond ENVIRONMENTAL approvals have been granted by the WA government for Cameco’s Yeelirrie uranium project in the Northern Goldfields region, after they were knocked back by the State’s Environmental Protection Authority (EPA). The government said the approvals were granted subject to 17 “strict conditions”, following a separate environmental assessment process, and agreements between Environment minister Steve Jacobs and ministers from the Department of Water, Mines and Petroleum, Aboriginal Affairs and State Development. Premier Colin Barnett said WA had significant uranium reserves and the Yeelirrie deposit was particularly large by world standards.  “Australia has been producing and exporting uranium for peaceful purposes for more than...

New Acland mine. Image: New Hope Group By Elizabeth Fabri NEW Hope Group’s long-awaited New Acland expansion is one step closer to development after receiving Federal Government approval in January. The New Acland Stage 3 Continuation Project gained Environment Protection and Biodiversity Conservation Act (EPBC) approval but still required State Government Mining Lease, Environment Authority, and Associated Water License approvals before a final investment decision could be made. New Hope Group managing director Shane Stephen said the approvals proved the environmental credentials of the project “stacked up”. "It’s positive news for the local community as it provides optimism for the continuity of operations at New Acland and the increased economic activity associated with the construction of the project,” Mr Stephen said....

Curtin chancellor Colin Beckett and vice-chancellor Professor Deborah Terry, Deputy Premier Liza Harvey and Member for Kalgoorlie Wendy Duncan at Agricola’s relaunch . By Elizabeth Fabri CURTIN University WA School of Mines’ accommodation in Kalgoorlie has undergone a $32 million facelift to encourage more students into the region. A collaboration between Curtin University and the WA Government, the Agricola facility will provide accommodation for 228 students, with 180 new individual bedrooms and 48 refurbished rooms. Curtin Vice-Chancellor Professor Deborah Terry said the rebuild and refurbishment was extremely important to Kalgoorlie as it would help attract high-calibre students to the region. “The existing accommodation – which had been in operation since the 1970s – needed to be significantly upgraded to meet...

Image: The CSIRO.   By Cameron Drummond   GOVERNMENT science and research agency CSIRO will be opening an office in the US for the first time, in an effort to promote Australian innovation overseas. The CSIRO US office will be based in the southern San Francisco Bay Area of Silicon Valley; working closely with American research, industry and business partners to bring Australia’s capabilities to the US marketplace. Foreign Affairs minister Julie Bishop said the move would capitalise on the CSIRO’s already strong relationships with science and industry leaders including NASA, Bayer LLP, Boeing and the Gates Foundation. “The office opening will support the government’s National Innovation and Science Agenda, which is fostering a culture of innovation and entrepreneurship,” Ms...

Autonomous trucks at Rio Tinto’s West Angelas mine. Image: Christian Sprogoe Photography.   By Elizabeth Fabri CANADIAN-based Global Mining Standards and Guidelines Group is taking a leaf out of Australia’s book by developing a new international guideline for autonomous mining, based on documentation released by the WA Department of Mines and Petroleum (DMP). Published in 2015, the DMP’s Safe mobile autonomous mining in Western Australia was a world-first code of practice focused on safe autonomous mining technologies such as loaders, trucks, drills and dozers. Senior Inspector of Mines Peter O'Loughlin would be appointed on the committee for the new guidelines following his coordination of the WA code of practice. "This reflects Western Australia’s global leadership in the field of autonomous...