Tag: joint venture

Fortescue farm-in JV, Carawine Resources

Fortescue farm-in JV, Carawine Resources

CARAWINE Resources (ASX: CWX) has entered into a farm-in and JV agreement with Fortescue Metals (ASX: FMG) to explore eastern Paterson copper, gold and base metals project tenements in WA. Carawine’s Lamil Hills, Trotman South tenements, near Newcrest’s Telfer gold and copper mine, and Sunday tenement, next door to Metals X’ Maroochydore copper-cobalt deposit, are still in early stages of exploration, with Carawine’s work to date mostly comprising target generation activities based mostly on work by previous explorers. FMG will pay $125,000 cash up front and have a minimum obligation to spend $500,000 within the first 18 months of the agreement. The agreement gives FMG the right to earn up to 75pc interest by spending $6m over two stages. Stage…

Tomago Aluminium: The trump card

Tomago Aluminium: The trump card

AUSTRALIA’S largest aluminium smelter, Tomago Aluminium, has been operational in the Hunter Valley region, about 13km north of Newcastle, 24/7 since 1983. The smelter produces about 550,000t of remelt ingot, T-ingot, extrusion billet and rolling slab per year. The independently operated Tomago operation is a joint venture between Rio Tinto (51.55pc), Gove Aluminium Finance (36.05pc) and Hydro Aluminium (12.40pc). Aluminium has had a tough run in 2019, but Australia’s aluminium industry could be one of the few benefactors from the US-China trade wars as it remains exempt from the 10pc tariff that foreign smelters were hit with as the American demand for the metal grows. The Australian Government has already urged companies such as Alcoa and Tomago to not invoke…

Candonga project seeks sale or partner

Candonga project seeks sale or partner

By Rachel Dally-Watkins 28 April, 2015 IN response to the significant fall in iron ore prices, Centaurus Metals has announced it is unable to pursue standalone development of its Candonga project in southeast Brazil, and would instead pursue opportunities to sell or seek a joint venture partner. Centaurus reviewed the results of its 2014 feasibility study for the direct shipping ore project, confirming the technical and financial viability of the 300,000 tonne per annum project even with the significantly lower current iron ore prices. The review resulted in a 47 per cent reduction in direct pre-capital cost to $1.9 million and a reduction of total CAPEX to $2.7 million, and Centaurus stated it was confident the project was capable of…