Turbotech

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…

STRUGGLING gold play Apex Minerals has received support from the Andrew Forrest-led The Metal Group, with the latter agreeing to invest up to $18 million in Apex and provide advice and access to its extensive contact network. The investment will give The Metal Group a 20 per cent stake in the troubled  miner. Previous chief executive officer of iron ore major Fortescue Metals Group, Mr Forrest recently loaned Apex a $4 million short-term debt facility via The Metal Group’s subsidiary AMNL Financing. Apex has been struggling to maintain profitable operations at its flagship Wiluna gold mine 1000km northeast of Perth. During the December 2011 quarter, Apex received an average $1667 per ounce of gold, however its cash operating costs exceeded…

THE Australasian Oil and Gas Exhibition is shaping up to be a whopper, with 118 new exhibitors signed up for the event at the Perth Convention Centre, from March 11-13. Businesses catering for the oil, gas and energy industry are gearing up to showcase a range of innovations and services. Renewable energy is making its presence felt with a Renewables and Energy Storage zone included for the first time. The dedicated exhibition floor will be promoting Australia as a leading investment destination for renewable energy products. As part of the renewables energy discussion, conference sessions around the path to energy transition, and energy diversification will be chaired by industry leaders. A raft of energizing and valuable forums are open for…

THE US$553 million sale of BHP Billiton’s diamond business has concluded, comprising the company’s interest in the Canadian Ekati diamond mine and diamond marketing operations. Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation) paid a purchase price of US$500 million, with additional purchase price adjustments of US$53 million. Under the sales agreement, which was initially announced in November 2012, Dominion will assume all of BHP’s obligations under Ekati’s environmental agreement with the governments of Canada and the Northwest Territories, as well as impact and benefit agreements with indigenous groups and pension liabilities linked to the mine’s defined benefit scheme. BHP employees at Ekati in Yellowknife and diamonds marketing in Antwerp have become employees of Dominion Diamond under the agreement. Announcing…