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Magmatic and FMG fund copper-gold JV Magmatic Resources (ASX: MAG) and Fortescue (ASX: FMG) have set a $3.5m exploration budget for their Myall project in NSW for FY26. Work will be focused on a significant air core and diamond drill program, with drill planning in progress. The first stage of the joint venture involves Fortescue earning up to a 51% initial interest in the Myall project. This is subject to Fortescue fulfilling its minimum obligation to spend $3m on exploration including 3000m of drilling within the first two years...

Albanese speaks up on Mount Isa The Mount Isa copper mine closed on Thursday, ending more than six decades of operations and prompting a united North Queensland delegation of business, government and community leaders to travel to parliament. The Keep Our Copper delegation lobbied Australian Parliament for a national solution to keep the copper industry alive in North Queensland. The group is supported by Member for Kennedy Bob Katter who asked Prime Minister Anthony Albanese in question time if he could reassure parliament that the copper smelter is to be...

UNSW wins funding for next-gen mining methods The University of NSW (UNSW) Minerals and Energy Resources Engineering School has received $5m in funding, from the Federal Government, to establish its ARC Research Hub. The funding will aid in the development of the hub for next generation mining methods (NextGenMIN), which will focus on delivering innovative and sustainable approaches to extracting critical and strategic minerals. The Federal Government, as part of the industrial transformation research hubs scheme, announced funding for 13 new research hubs and training centres this...

Liebherr delivers complete trolley solution Liebherr Mining has commissioned a full trolley solution at Collahuasi copper mine in northern Chile. The entire solution, from infrastructure to the four T 284 trucks retrofitted with pantograph connections, was supplied by Liebherr and marks the first fully operational trolley line in Chile. Four Liebherr T 284 360-tonne mining trucks are now operating under the project’s one-kilometre trolley line. The Collahuasi site posed unique challenges when it came to designing the trolley line as it is situated at 4,500m above sea level, where it is subject to...

Image celebrates Atlas’s successful debut Image Resources (ASX: IMA) has reported a successful Q4 FY25 for its flagship Atlas mineral sands project in WA. During Q4, the project generated positive cashflow of $5m and produced 45,900dmt of heavy mineral concentrate (HMC) from 674,000t of ore processed with shipments totalling 35,359dmt — exceeding forecasts of 30,000-35,000dmt. The company recorded revenue of $22.2m, averaging $624/t, with operating costs totalling $17.1m, averaging $396/t. Image Resources chief executive Patrick Mutz says achieving positive operating cash flow in Atlas’ first quarter of operations gives the team renewed confidence...

IGO has “low confidence” in Kwinana refinery  IGO (ASX: IGO) has fully impaired its 49% stake in the Kwinana lithium hydroxide refinery in WA, citing ongoing operational issues.  Q4 FY25 lithium hydroxide production of 2126t represented 35% of nameplate capacity for the refinery.   The plant operated at reduced capacity due to equipment failure in Q3, limiting production to May, a further equipment failure in June and other downtime.  IGO managing director Ivan Vella says the refinery operated well below nameplate capacity in the quarter and did not achieve guided production tonnes for the year.  “Despite the strong commitment...

Australia's "freefall" in Fraser Institute rankings  The Fraser Institute has released its 2024 Annual Survey of Mining Companies, with all Australian jurisdictions suffering declines in investment attractiveness and policy perception compared to 2023.  The overall Investment Attractiveness Index is determined by combining the Best Practices Mineral Potential Index — which rates regions based on their geological attractiveness — and the Policy Perception Index, which measures the effects of government policy on attitudes toward exploration investment.  The survey was circulated electronically to approximately 2289 individuals between August 7, 2024, to December 15, 2024, receiving...

Bowen Coking Coal enters administration Bowen Coking Coal (ASX: BCB) has announced it is closing its Burton mine complex and entering voluntary administration following unsuccessful capital raise attempts. The decision was made following the rejection of the company’s most recent submission to the Queensland Revenue Office (QRO) for the short-term deferral of royalties and the inability to secure fresh capital or negotiate alternative commercial arrangements with creditors. Bowen’s move reflects the challenging environment the Queensland coal industry is facing with higher costs, lower global coal prices and increased royalty rates introduced in 2022. The company’s...

Kalamazoo secures golden future Kalamazoo Resources (ASX: KZR) has fast-tracked a scoping study at its 1.44moz Ashburton gold project in WA. Following the conclusion of an option agreement held by De Grey Mining, acquired by Northern Star Resources (ASX: NST), Kalamazoo now wholly owns the Ashburton project and has commenced a scoping study for the optimal developmental pathway at the Mt Olympus deposit. Kalamazoo is leveraging the substantial technical work completed at the site, by De Grey and Northern Star, to accelerate the completion of the study targeted for Q4 CY25. Recent re-optimisation studies conducted at the deposit utilising the...

Warradarge wind farm enters second stage Construction has commenced on the $400m expansion of Warradarge wind farm near Eneabba, continuing WA’s clean energy transition. The expansions will create more than 120 jobs and includes the construction of 30 additional wind turbines, taking the farm’s capacity to 283MW — a 103MW increase. Warradarge has been operating 51 turbines, with a tip height of 152m and blades 67m long, and producing reliable, renewable energy since 2020. The expanded wind farm will generate significant energy for the South West Interconnected System (SWIS), powering 164,000 households each year — making it the largest wind farm in WA. WA Energy and...

WA Government greenlights Karlawinda expansion Capricorn Metals (ASX: CMM) has received regulatory approval for the development of the Karlawinda expansion project in the Pilbara region of WA. The approval allows Capricorn to undertake all expanded mining activities at the Bibra, Southern Corridor and Berwick open pits, construction and development of a new tailing storage facility, construction works of the expanded processing plant and other infrastructure development. The expansion project was developed in late 2024, and construction is expected to be completed by Q4 FY26. The project will include the installation of a new parallel three-stage crushing and ball mill circuit to increase...