BHP CEO steps down as miner pivots to copper

The Queensland Government has saved an Australian-first critical minerals facility in Townsville, with construction of the Queensland Resources Common User Facility starting up. Once operational in late 2026, mining companies will be able to test their mineral processing techniques at the facility and progress samples to market, accelerating commercial development opportunities. Queensland Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie says the Queensland Government is rescuing the project to drive regional jobs and supercharge the state’s critical minerals capability. “The Government recognises the important role this project will play in developing Queensland’s critical minerals sector and has committed to the project with bulk earthworks now underway on site,” he said. “North Queensland’s reserves alone are…

Northern Star Resources (ASX: NST) managing director Stuart Tonkin spoke on the company’s record FY24 at the WA Mining Club August luncheon. The gold producer saw record cash earnings in FY24 of $1.8b plus revenue of $4.92b, crediting these results to the strong operational performance across its Kalgoorlie and Yandal production centres in WA, plus its Pogo production centre in Alaska. Looking forward, Mr Tonkin says one of the biggest threats to the Australian mining sector is the global risk of the flight of capital. “You need business planning runway,” he said. “As start to modify and change, companies need time. “What the nation doesn’t quite realise is that the money will go. “It will leave Australia and it…

The Foreign Investment Review Board (FIRB) has issued its approval of Westgold’s (ASX: WGX) acquisition of Karora. The enlarged Westgold will have a $2.4b market cap with combined ore reserves of 3.2moz and mineral resources of 13moz, which Westgold says will place it solidly among the top 5 ASX-listed gold producers operating predominantly in Australia. The company will be well funded, with financial resources of about $160m and dual listing on the ASX and Toronto stock exchange (TSX). Westgold expects to complete the transaction by the end of July, pending approval by Karora shareholders at its July 19 meeting. Westgold managing director and chief executive Wayne Bramwell says the value proposition created by the merger is compelling. “With their vote…

Black Cat Syndicate’s (ASX: BC8) Lakewood processing facility has begun processing ore from the Fingals open pit and Majestic underground mines in WA.In February last year, Black Cat acquired the facility from Westgold Resources (ASX: WGX), in a move that brought forward Kal East by 15 months.Across the next 12 months, the company will invest $20m of operating cashflow to expand the processing facility’s capacity from 1.2mtpa to 1.5mtpa.Meanwhile, the Fingals open pit and Majestic underground mines continue to ramp up, with an estimated 183kt stockpile of ore currently available for processing.Black Cat managing director James Bruce comments on the milestone.“The successful ramp-up of the Fingals and Majestic mines within twelve months and within budget is a credit to the ‘can-do’ culture and experience of the Black Cat team,” he said.“The capital-efficient expansion of Lakewood will unlock further value from our Kal East operations for years to come.“Securing sufficient contracted fuel is an important outcome at a time when uncertainty persists across Australian fuel supply networks.”Black Cat says it is not currently experiencing supply issues with diesel or fuel. Lakewood is grid connected and does not require fuel for the vast majority of its power requirements.