Alcoa doubles no-mining zone

Image takes a second glance at gold A promising mineral resource estimate and a buoyant gold price have prompted Image Resources (ASX: IMA) to conduct a comprehensive review of its gold tenements.The strategy review will include potential divestiture or other commercialisation options for Image’s entire gold tenement package which contains a recently announced maiden mineral resources estimate of 2.0mt at 2.1 g/t gold for 139koz gold in the inferred category.Image Resources managing director and chief executive Patrick Mutz says the time is right to assess options for extracting the best value from the gold tenements.“We have been and remain focused on mineral sands mining and processing as our principal business. However, given the continuing buoyant gold price, it is appropriate to determine if any value can be unlocked from these gold assets in the shorter term,” he said.“We will also be evaluating the potential for Image to setup and control a contract mining, ore hauling, and toll-processing model with minimum capital requirements for the Erayinia/King project, to take advantage of the potential operating margins supported by the buoyant gold price.”If Image can extract appropriate value from the gold tenements, funds would be used to either repay remaining debt or for project development capital for the company’s next minerals sands development project.

The Queensland Government has declared a $662m extension proposal of Peabody Energy’s Centurion coal mine as a coordinated project. 

Harmony Gold has approved a final investment decision for its Eva copper project in North West Queensland, with the project anticipated to add $17b to the state’s economy.