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DUAL-listed Alacer Gold is selling its minority stake in the Frog’s Leg mine as well as two exploration projects near Kalgoorlie for $141 million, following the completion of a major strategic review. The company has entered into a binding asset sale and purchase agreement with La Mancha Resources Australia for its 49 per cent interest in Frog’s Leg; its 24.5 per cent interest in the Lake Greta joint venture; and its 40 per cent share in the Avoca JV. Once the acquisitions are completed, La Mancha will own 100 per cent of Frog’s Leg and continue as operator. Under the deal, Alacer will also provide La Mancha will toll milling services for 18 months using its Jubilee processing facility at…

AUSTRALIAN nickel producer Western Areas has extended its partnership with China’s largest nickel company, Jinchuan Group, through the signing of a non-binding strategic alliance deed. The alliance was established to further the relationship between the two companies, which began with a nickel concentrate offtake agreement three years ago. It will allow the partners to work together to evaluate possible development of global mining opportunities, including exploration and development and, if successful, cooperating right through to the operation phase of base metal projects. According to Western Areas, the non-exclusive agreement will not involve any upfront contributions, with future contributions limited to the sharing of agreed assessment and due diligence costs for potential projects of mutual interest. Western Areas managing director Daniel…

AUSTRALIA’s Construction, Forestry, Mining and Energy Union (CFMEU) is demanding that the benefits of the mining boom be shared more equally, with the launch of a new advertising campaign. The union is calling for more jobs to be delivered to Australians, along with increased investment in mining communities and better management of the impact on various job sectors. “The mining boom has created opportunities for many Australians, but it has left many more behind, badly hurting job-rich sectors such as manufacturing, tourism and education,” CFMEU construction and general division secretary for Queensland Michael Ravbar said. “While thousands of Queenslanders are losing their jobs, and unemployment has leapt to 6.2 per cent, big mining companies want to bring in temporary foreign…

WITH more than 34 years of experience, Rapid Crushing and Screening Contractors is a leading provider of crushing and screening services to clients in the civil contracting, mining and resources industries. WA owned, the company specialises in the crushing and screening of all types of mineral ores including iron ore, gold, nickel and special class site preparation fill materials, as well as concrete and road aggregates, roadbase, rail ballast and armour rock. Rapid has created a wide range of high production mobile and fixed crushing circuits, ranging from modular and mobile plants with capacities of up to 600 tonnes per hour, and fixed plants of capacities of up to 1000t/h. With a modern head office and workshop facility in Maddington,…

ENCOURAGING preliminary results for nickel and copper indicators have been returned from exploration on a “small portion” of Thor Mining’s tenement holding at the Dundas gold project in southern WA, according to a recent announcement from the company. Thor reported that analysis of surface geochemical cross sections of calcrete samples from a 25 square kilometre area of exploration tenement had been completed, as part of exploration being conducted in conjunction with the ongoing gold exploration program at Dundas. According to the company, three areas of elevated nickel and one of copper, plus one site of coincident copper and nickel, were revealed in the analysis. “This is an encouraging start in assessing the nickel prospectivity of the Dundas project,” Thor executive…

AUSTRALIAN iron ore explorer Sherwin Iron has been given the all-clear to mine at its Roper River project in the Northern Territory after reaching an historic agreement with the National Land Council (NLC). In a recent statement, the company said the NLC contract, which is subject to ministerial approval, was a critical milestone in securing the future of the mine and providing substantial benefits to the Traditional Owners. Sherwin estimates that direct investment in the mine, which will create 400 jobs once fully operational, will be about $800 million. The agreement, which was ratified at a NLC council meeting in November 2012, covers mining and exploration across all of Sherwin’s tenements and includes royalty payments. Sprawling more than 4000 square…

AUSTRALIAN miner Iron Road has announced a half a billion tonne resource upgrade at its Central Eyre Iron Project (CEIP) in South Australia. The total mineral resource, which covers the Murphy South, Boo-Loo and part of the Rob Roy areas, now stands at 2.6bt grading 16 per cent iron, 54 per cent silicon dioxide, 13 per cent aluminium oxide and 0.08 per cent phosphorous. Iron Road believes the upgrade, which is part of an ongoing drilling program, demonstrates the size, scale and potential long-term production life for the project. In 2009, Coffey Mining established a global exploration target of between 2.8bt and 5.7bt of magnetite gneiss grading between 18 per cent and 25 per cent iron at the project. Managing…

A definitive feasibility study has proven successful for Alliance Mining Commodities (AMC), which expects to be named the world’s fifth-largest bauxite producer after announcing positive results for its 90 per cent-owned Koumbia project in Guinea, West Africa. The company stated that the results confirmed “the financial and technical viability of a world-scale, long-life bauxite operation” at the site, which measures 728 square kilometres and is in the Boké Bauxite Belt. With a mine life of 40 years, Koumbia is expected to produce a high-grade measured and indicated resource including 305 million tonnes grading 48 per cent aluminium oxide and an inferred resource of 250Mt grading 48 per cent aluminium oxide, with low reactive silica of 1.7 per cent and high…

IRON ore company Gindalbie Metals has announced a $62 million equity raising to strengthen its balance sheet so it can contribute to the commissioning of its flagship Karara project in WA if necessary. The equity raising comprises a $40 million fully underwritten placement to institutional and sophisticated investors, and a proposed additional conditional placement of $22 million to major shareholder Ansteel that would allow Ansteel to maintain its 36 per cent interest in Gindalbie. The offer price for the institutional placement, which was successfully completed in early December, was 25.5 cents per share – a 13.6 per cent discount to the last closing price of Gindalbie’s shares before the placement. First magnetite concentrate has been produced at Karara and the…

DIVERSIFIED multi-commodity explorer Tasman Resources has announced the drilling of a third hole at its Vulcan project, 30km north of Olympic Dam, about 550km north-northwest of Adelaide in South Australia. Drilling resumed at the iron oxide-coppergold- uranium (IOCGU) project, which is operated as a joint venture with Rio Tinto Exploration, in September 2012. The hole, VUD 11, intersected more than 620m of IOCGU-style highly altered and brecciated rocks – which included a 12m intersection of massive hematite – and was the third to be completed as part of the JV’s exploration program. As the rocks contain only minor amounts of copper sulfides, Tasman reported that it expected assays, when received, would be relatively low. VUD 11 is inclined at -70…

OBTAINING insurance for a mine site can be a complex process, but Affinity Insurance makes it easy for contractors to understand what types of cover they may need, how to get it, and how much it will cost – giving them options to make the right decision on how to best insure their business. According to the family-owned firm, owners of mobile plant and equipment were often unaware that they could insure the resultant loss of profits, or extra costs incurred, when hiring temporary equipment if their own was damaged. “Companies that contract to mine sites can protect their assets and the income linked to their machines if they use the right insurer,” a company spokesperson said. Affinity Insurance can…