RINGSPANN-Your benefit is our motivation

By Samantha James JAPAN state-owned miner JOGMEC will forfeit its 30 per cent interest in Vital Metal’s development-ready tungsten Watershed project in Queensland. JOGMEC failed to complete a transfer to an incoming Japanese partner by the agreed deadline of 31 December 2015, gifting Vital 100 per cent ownership of the development-ready tungsten project for no consideration. Vital said it was looking to recommence discussions with potential new development partners who had expressed interest but “may have been deterred” by the previous joint venture arrangements. “Watershed ticks virtually every box from the perspective of potential development partners looking to invest in a high-quality, long-life tungsten deposit,” Vital managing director Mark Strizek said. “There is no better time to developing a resource...

By Samantha James A report by leading independent economic forecaster and industry analyst BIS Shrapnel predicts further mining job losses until 2018 led by the coal, iron ore and gold industries. The Mining in Australia 2015 to 2030 report stated that investment would fall a further 58 per cent despite an expected 6 per cent annual rise in mining production. This would drive a corresponding increase in mining operations activities and export volumes but would not be enough to support job growth. “We haven’t hit bottom yet on commodity prices or investment, which will continue to be a key drag on Australian economic growth from here,” BIS infrastructure and mining unit senior manager Adrian Hart said. “While mining production will...