The Briefing on Mining
The latest news, trends and data from the mining industry
Australia's Biggest Mines in Numbers
The Fortescue Metals Group’s Eliwana mine is being developed for AUD1.7bn, and will include 143km of rail, a new 30Mt per annum dry ore processing facility, along with other bits of infrastructure.
Already the largest lithium mine in the world, Talison Lithium is expanding its Greenbushes project. This will double its production capacity to 2.3Mt by 2021.
The Robe Valley mine and West Angeles expansion, which Rio Tinto is currently developing, will create 1200 jobs.
Copper Mountain Mining is developing it’s Cloncurry project in Queensland, it is predicted to produce 73,000t by 2020 and will have a minelife of 12 years.
BHP’s colossal South Flank iron ore project in Western Australia is being developed for US$3.4bn.
Australian tax office loses $92m case against mining group Glencore
Mining major Glencore has won its case against the Australian Taxation Office (ATO). The ATO was attempting to curb complex copper processing transactions related to Glencore’s CSA mine near Cobar. The federal court judge Jennifer Davies threw out the case that would have cost the company $92m.
Read the full article on the Guardian
BHP rejects shareholder resolution to suspend membership organisations
Australian mining company BHP has rejected a shareholder resolution that called for memberships to organisations at odds with the Paris climate accord to be suspended. The company decided the resolution was unnecessary, as it is already reviewing its membership to organisations such as the Minerals Council of Australia.
“BHP is currently conducting its 2019 industry association review and will publish the outcome of the review,” BHP said to the Australian and London stock exchanges.
“The review includes comparison of the positions taken by relevant industry associations since January 2018 as against the positions held by BHP in climate and energy policy areas of importance to the company.”
Read the full article on The Guardian
In the News
Top Project News This Month
Resolute Mining begin the Ravenswood Expansion Project
Resolute Mining has commenced the first stage of the Ravenswood Expansion Project (REP) at the Ravenswood Gold mine in Queensland, Australia. In the first stage of the expansion, Resolute aims to process stockpiled material to achieve a target production of 80,000t at a cost of AUD1,600/oz of gold to ensure that the project generates positive operating cash flow during the other stages of the upgrade programme.
Australian Government provides AUD3.7m for mining research centre
The Australian Government announced that it will provide AUD3.7m in funding for the development of the Australian Research Council Industrial Transformation Training Centre for Integrated Operations for Complex Resources. The centre will be housed in the University of Adelaide’s Institute for Mineral and Energy Resources. Other participants in the centre include Curtin University, University of South Australia and 22 government and industry organisations.
Ora Banda to raise funding for exploration programmes in WA
Ora Banda Mining is set to raise AUD18.5m ($12.5m) towards the development of its regional exploration and high-grade gold resource and reserve definition programmes as well as fund an early stage processing plant works in the Eastern Goldfields region of Western Australia (WA). The placement was undertaken at an issue price of 18.5 cents per fully paid ordinary share to raise $12.5m through the issuance of 100 million new shares.
M&As: This Month's Top Deals
NRW Holdings wins contract with Rio Tinto
NRW Holdings has won a contract worth approximately AUD95m ($63.83m) from Rio Tinto for its Koodaideri Mine pre-strip project in Pilbara, Western Australia. The project will include the development of earthworks infrastructure and initial mining pre-strip, as well as mobilisation and the establishment of the mining site, stripping of topsoil and subsoil, and drilling and blast operations.
Source: The Citizen
Primero Group wins contract with BHP
Primero Group has secured a contract from Thyssen Krupp for pre-assembly works on the balance machines that will be installed at BHP’s $4.6bn South Flank iron ore project. In November last year, BHP awarded the contract to Thyssen Krupp for the supply and installation of the balance machines.
Source: Universe Today
Westfarmers ends deal to buy rare earths from Lynas
Wesfarmers has officially ended its non-binding indicative proposal to buy rare earths miner Lynas for $2.25 a share in cash. In March, Wesfarmers made a conditional, non-binding indicative proposal to acquire Lynas, pursuant to a scheme of arrangement. The latest announcement comes after Lynas received a renewed Lynas Malaysia operating licence.
Source: New York Times
Mastermyne to buy Wilson Mining Services
Australian company Mastermyne has signed a conditional agreement to buy all shares of Wilson Mining Services (WMS) for an upfront consideration of $7.6m. The company plans to buy WMS for $3.8m in cash and the remaining will be issued as ordinary shares in Mastermyne.
Source: Science Alert
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