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BHP profits increase BHP has announced a profit of $7.3b, an increase of 29pc, for the half year ending December 31, 2019. Shareholders received a higher interim dividend with a payout of 97c per share, though it was lower than estimated. BHP chief executive Mike Henry said that the company was in good shape, though it was keeping an eye on effects from the coronavirus outbreak, trade policy and global political uncertainties. “We remain convinced by the positive fundamentals of our commodities," he said. The company reported that with $5.5b in free cashflow, it was on track to meet full-year production guidance. Higher iron ore prices and strong performance across operations has had a positive effect on results. The company...

Thunderbird is go MINERAL sands exploration company Sheffield Resources has restructured the cost of its flagship Thunderbird project in WA following a review of company strategy. Sheffield Resources said the scaled-back project would generate annual cost savings of $7.5m, representing 60pc of the project’s current cost base, for the tier-one zircon-rich mineral sands deposit. Company managing director Bruce McFadzean said the company had achieved important milestones in recent years to make Thunderbird construction ready. “The Thunderbird mineral sands project is a world-class asset that is fully permitted, construction ready and perfectly positioned to meet the market need,” Mr McFadzean said. The company said that by changing the scale and product mix of its Thunderbird project, it can significantly reduce its...

Caterpillar first for Collie LEADING Caterpillar dealer WesTrac is to build a technology training facility in the WA town of Collie focused on providing courses in autonomous operations. The centre will be the only Caterpillar Autonomous Training Facility in the world apart from Caterpillar’s own testing and training ground in Arizona, USA. The facility will be developed on land owned by Bluewaters Farm Holdings in Collie’s Coolangatta Industrial Estate. The project is supported by a grant through the Collie Futures Fund, awarded to WesTrac by the State Government’s Department of Jobs, Tourism, Science and Innovation. The announcement was made at a ground-turning event in Collie attended by WA Premier Mark McGowan, Regional Development Minister Alannah MacTiernan, Collie-Preston MLA Mick Murray...

Gold prices boost Newcrest GOLD producer Newcrest Mining has unveiled an increased underlying profit of $280m for the six-month period ended December 2019, although gold production for the period was 12pc lower compared with the second half of 2018. Higher realised gold prices, and the favourable impact on its Australian operations from a weaker Australian dollar to US dollar exchange rate, contributed to the increased profit for the half year period. In the July-December 2019 period Newcrest produced 1.1moz of gold at an all-in sustaining cost of $880/oz, up from $747/oz for the year ago period. This represents an all-in sustaining cost margin of $566/oz for the December 2019-ended half year, up from $481/oz for the corresponding 2018 period. Newcrest...

Lithium Australia teams up with CSIRO ASX company Lithium Australia’s subsidiary VSPC has been selected to be part of the Australian government’s $5m research program to develop fast-charge lithium-ion batteries for use in transportation. VSPC will develop advanced cathode materials with research partners CSIRO, The University of Queensland, and Soluna Australia. Lithium Australia managing director Adrian Griffin said the research aims to deliver an Australian product that puts the country at the forefront of battery development. “This is an unparalleled opportunity to combine VSPC’s battery-materials technology with some of the world’s leading research,” Mr Griffin said. For participating in the Co-operative Research Centres project, VSPC will receive grant funding of $1.6m, with similar amounts going to the other research partners....

AUSTRALIAN-BASED Southern Gold has announced a binding agreement for the placement of 71,428,571 ordinary shares in the company at 14c per share. The objective is to raise $10m toward doubling the exploration and drilling program in South Korea. AIM-listed investment group, Metal Tiger PLC, will invest about $3.33m, with an agreement for a cornerstone position in the placement and the right to nominate one director to the company. Southern Gold owns 100pc of several high-grade gold projects in South Korea and has interests in other gold production projects in the region. The nominee for this position will be Terry Grammer, an award-winning geologist with more than 40 years’ experience in mining and mineral exploration across the globe. Mr Grammer discovered...

Mines withstand Damien CLEAN-UP operations are underway in the Pilbara after the category 4 Cyclone Damien made its presence felt across the region on February 7. Ports servicing Roy Hill, Rio Tinto, and FMG Iron Ore operations at Dampier and Ashburton went into cyclone preparation mode and shut as the cyclone passed, with the port at Port Hedland remaining closed for 25 hours. Roy Hill and FMG mines received the least of the storm, with Rio Tinto’s port, rail and mine network situated in the direct path of the storm. A report from the company said that it is supporting recovery efforts alongside DFES. Further disruptions were hoped to be avoided as heavy rain continued to fall. The towns of...

Peabody Energy to sell North Goonyella US coal company Peabody Energy is considering selling all or part of its interest in the North Goonyella coking coal mine in Queensland, Australia, after receiving substantial expressions of interest from potential buyers for the asset. Peabody Energy said that it had started a commercial process for North Goonyella mine, which shipped 1.8mt of coking coal through Dalrymple Bay coal terminal in 2018. “The process comes in response to substantial expressions of interest in this valuable asset from potential strategic partners and other producers,” the company stated. Commercial outcomes could include a strategic financial partner, joint venture structure, or complete sale of North Goonyella. The mine was temporarily closed after an underground fire in...

Gove contract to SXE SOUTHERN Cross Electrical Engineering Limited (SXE) has been awarded an $18m contract by Rio Tinto for its refinery site on the Gove Peninsula in North East Arnhem Land in the Northern Territory. The works will form part of the planned rehabilitation of the site, including the re-routing and isolation of electrical and hydraulic services to the refinery. Mobilisation of the works is expected to begin in the first quarter of 2020 to be completed by March 2021. The Gove site has been producing bauxite worldwide for the global aluminium industry for the past 40 years. Gove’s milestones include the largest bauxite ship to be loaded from an Australian port and a record production of 12.5mt. Rio...

State of Mine FLY In Fly Out (FIFO) worker Blake Wood and business partner George Helou are on a mission to eradicate suicide among FIFO workers. Their program, FIFOZero, aims to teach workers practical problem-solving skills in order to confront issues of mental and emotional stress they say are exacerbated through the isolation that often comes with FIFO life. Mr Wood worked in the FIFO sector for nearly nine years before he was forced to face his own demons. He struggled from panic attacks, chronic anxiety and suicidal thoughts and, after the suicide of a close colleague, he was driven to do something about it. After taking Mr Helou’s EP7 seven step program, the two developed FIFOZero, a nuanced response...