Tag: gold

Ore cart being loaded into recommissioned mine shaft at Morning Star. Image: AuStar Gold BY GERARD MCARTNEY THE recommissioning of two sleeping giants in Victoria’s Eastern goldfields is creating a hive of activity as AuStar Gold restarts production at the Rose of Denmark and Morning Star mines. AUSTAR Gold has breathed new life into the Morning Star and Rose of Denmark mines. The production of gold at the mines is the crown jewel in a series of achievements since 2015 for AuStar Gold. “There has been a number of milestones in the last two years, firstly recommissioning the Morning Star winder and shaft, then recommissioning the processing plant and demonstrating its capability to recover gold effectively,” AusStar chief executive Tom…

Image: Pilgangoora Minerals BY AMY BLOM AS mining takes off again in WA’s Pilbara region, communities are bracing for another boom and working to ensure locally-based service providers have a share in the sector. With three new major iron ore mines on the cards and the increasing prominence of lithium, gold and copper in the area, the Pilbara could be set for another mining boom. But in the hopes of mitigating the highs and lows of the past, community leaders are encouraging a greater focus on awarding contracts to local service providers within existing hubs and a strategy of diversification. Most of the services necessary for new developments were already in place in the Pilbara, thanks to the region’s rich…

BY ELIZABETH FABRI NEWMONT Mining has entered a deal to acquire Canadian gold company Goldcorp for $US10 billion. The acquisition marked the second large-scale merger in the gold industry in the last six months following Barrick Gold’s landmark purchase of Randgold Resources in September 2018 for $US6 billion. Under the deal, the two miners would form Newmont Goldcorp; the world’s largest gold miner by output, with a portfolio of assets across North and South America, Canada, Australia and Africa. Newmont would acquire each Goldcorp share for 0.3280 of a Newmont share, with Newmont and Goldcorp shareholders to own 65 per cent and 35 per cent of the combined entity respectively. Goldcorp currently operated four mines in Canada, one in Argentina,…

Fortnum gold project had its fifth consecutive quarter of gold output in the September quarter. All Images: Westgold Resources. BY AMY BLOM WESTGOLD has remained undeterred by lower than expected production and higher costs, instead looking to big opportunities still on the horizon. Despite suffering some setbacks, Westgold Resources was on the way to achieving its goal of becoming a long-life gold producer, having confirmed Big Bell underground was on track for first production before the end of 2018. According to Westgold’s September quarter report, Big Bell had advanced significantly towards production with drilling defining a new ore position to the south, which would enable modest, but early production from the mine in the December quarter. In its annual report released on 26…

Millenniums Nullagine Gold Project is in the heart of the Pilbara. BY JESSICA CUMMINS MILLENNIUM Minerals chief executive Peter Cash speaks with The Australian Mining Review about reaching its long-awaited 100,000 ounce per annum run rate and what else lies on the horizon. Millennium Minerals’ flagship Nullagine gold project in the heart of the Pilbara comprises six mining centres along a 40km corridor. Hosting a total resource base of 1.1 million ounces of gold in the under-explored Mosquito Creek Belt, the project has produced 400,000oz since operations commenced in 2012. Gold production has averaged at between 75,000 and 80,000 ounces per year within the 264km mining tenements. During the September quarter the company reached its 100,000ozpa run-rate target at Nullagine…

Truck full of ore coming out of the portal from the underground Nova-Bollinger mine. All images: Independence Group. BY AMY BLOM AFTER celebrating one year since its Nova mine entered commercial production in September, Independence Group has its sights firmly set on key metals used in renewable energy technologies and electric vehicles, with further expansion and exploration projects across WA and the Northern Territory on the horizon. Independence Group (IGO) would continue to prioritise exploration work at its Nova operation and the surrounding Fraser Range, following a strong start to FY19. According to its September quarterly activities report released on 29 October, IGO increased net cash to $62 million and achieved metal production guidance at Nova, about 160km northeast of Norseman,…

Evolution Mining executive chairman Jake Klein speaking at IMARC. Image: IMARC. BY ELIZABETH FABRI EVOLUTION Mining executive chairman Jake Klein had a clear message for delegates at the recent International Mining and Resources Conference (IMARC) in Melbourne: the industry was experiencing a “cognitive bias” towards gold prices, with lack of sufficient returns rolling in for gold investors. Evolution’s Mr Klein – who has steered the mid-tier miner’s growth since its inception seven years ago—questioned how many gold projects across the country delivered on what was promised in feasibility studies, shedding light on the industry-wide issue of narrow returns for investors. “I started in the gold industry 25 years ago and gold prices were around $US250 an ounce and gold companies were…

BY JESSICA CUMMINS NEWCREST Mining has entered into the farm-in stage of its agreement with Mirasol Resources’ Altazor gold project in Chile. The two companies first signed an option and farm in agreement in November 2017, which saw Newcrest set to acquire up to 80 per cent of the project by completing a series of exploration and development milestones. After completing an aggressive exploration program comprising systematic soil sampling, detailed geological mapping, magnetics and electrical geophysics last year, Newcrest presented an exploration budget totalling $US3.3 million for this season’s exploration program. Exploration works would be focussed on a maiden drilling program, subject to obtaining applicable permits and permissions. Mirasol president and chief executive Stephen Nano said the company was pleased…

Crushed ore cone at Nolans processing plant. Image: Resolute Mining. Photography: Roslyn Budd. BY AMY BLOM DESPITE almost closing Ravenswood mine in 2016, Resolute Mining has now announced a 14-year mine life with staged plans to return to 5 million tonne per annum open cut mining. Along with Ravenswood, its operations in Africa and a dedication to increasing output through new technology, Resolute expects to grow annual production to 500,000 ounces by 2021. Innovation and experience was the key to successfully extending the life of the Ravenswood mine in QLD, according to Resolute Mining chief executive and managing director John Welborn. Just over two years ago, the Ravenswood gold operations were hanging in the balance, with the Mt Wright deposit expected to…