Whitehaven’s Australian coal mine extension project faces legal hurdle

5 july | Law

Bushfire Survivors for Climate Action (BSCA) has filed a lawsuit against the approval of the Whitehaven Coal’s Narrabri Stage 3 extension project in New South Wales (NSW), Australia. 


The legal proceedings were launched in the NSW Land and Environment Court with an aim of overturning the State Significant Development Consent granted in April 2022 for the extension. 


Represented by the Environmental Defenders Office, BSCA contends that the NSW Independent Planning Commission’s (IPC) clearance for the extension of the Narrabri Mine was “unreasonable, irrational and illogical”. 


BSCA also claims that the approval does not comply with public interest due to the project’s impact on triggering more extreme weather events linked to climate change. 


Whitehaven said that BSCA’s proceedings aim to invalidate IPC’s approval on the grounds of climate change, and noted that it plans to “vigorously” defend against the BSCA’s proceedings. 


The IPC’s approval allows the project operations to be extended up to 10km south of its existing mine with a 500m-wide coal seam and extract a further 82 million tonnes of coal by 2044.   


BSCA said in a statement: “The project will generate at least 479.57Mt of carbon dioxide equivalent in emissions – roughly equal to Australia’s current annual greenhouse gas emissions in 2021, which were 488Mt of carbon dioxide equivalent – at a time when greenhouse gas emissions must be rapidly reduced to limit the devastating impacts of global warming.” 

4 july |  Deals

IGO to acquire majority stake in Matsa’s Western Australian tentmates 


IGO subsidiary IGO Newsearch has signed an agreement to purchase a 70% stake in the Fraser Range tenements in Western Australia (WA) from mining company Matsa Resources. 


The transaction also includes the sale of the stake in the Symons Hill copper/nickel project.


Upon completion of the deal, Matsa will retain a 30% free carried interest in every tenement until a feasibility study is concluded or a decision is made on moving forward with the development and mining of a deposit on each of the tenements. 


According to the agreed terms, IGO will have to make a $412,707 (A$600,000) cash payment and subsequently free carry Matsa for all exploration to the completion of feasibility studies or the decision to mine. 


With the sale of non-core Fraser Range tenements, Matsa intends to focus on its Lake Carey gold project in Australia. The firm, however, will retain an interest in the potential upside at no cost. 


Matsa executive chairman Paul Poli said: “This transaction enables IGO to have unfettered access to any part of Matsa’s Fraser Range landholding and explore the tenements to the fullest extent without a specific time or cost demands. 


“It provides Matsa with a cash boost, as well as receiving the expert knowledge and exploration experience of the IGO team which is second to none. Matsa welcomes IGO’s exploration know-how and capabilities throughout its Fraser Range tenement holdings.” 

30 june | Projects

Strategic Minerals obtains environmental approval for Australian copper mine 


Strategic Minerals has secured environment protection and rehabilitation (PEPR) approval for its Leigh Creek Copper Mine in South Australia. 


Situated in the North Flinders Ranges of South Australia, 500km north of Adelaide, the mine covers an area of 935km² of exploration leases.


It comprises three sites, including the ML 5467 Mountain of Light Copper mine, ML 5498 Lorna Doone and ML 5741 Mount Coffin. 


The PEPR approval, which relates to the processing of copper oxide, ensures the mine is “shovel-ready”, but this remains subject to securing finance. 


Strategic Minerals said that the decision relates to the copper oxide mining and processing from Leigh Creek’s Paltridge North deposit at the nearby Mountain of Light plant. 


Under the approval terms, Strategic Minerals is entailed to provide monitoring reports and observe areas of historical significance to indigenous communities. The company aims to have approved procedures for ore extracting and processing by the time the transitional ore is reached. 


Strategic Minerals managing director John Peters said: “With regard to funding of the LCCM project, the company has had numerous parties review the project and, currently, has three interested parties who have signed the company’s confidentiality agreement and have been in our data room for a month or more. 

28 june | DEALS

IGO to acquire stake in Australian project from Venus Metals 


A subsidiary of IGO has signed an agreement with Venus Metals to become a joint venture partner in the Bridgetown Greenbushes exploration project in Western Australia. 


According to the agreed terms, the subsidiary has to spend $4.16m (A$6m) on exploration expenditure to acquire up to a 70% of the project. 


IGO currently owns a 49% stake in a separate joint venture, called Tianqi Lithium Energy Australia, with Tianqi Lithium. This venture holds a 51% stake in the Greenbushes lithium mine in Western Australia, and the Bridgetown Greenbushes project is located in close proximity to the Greenbushes lithium mine. 


Until the completion of a pre-feasibility study of the Bridgetown Greenbushes project, the IGO subsidiary will fund the entirety of the joint venture expenditure. After the study is concluded, the IGO subsidiary will be entitled to acquire a 30% stake in the project for a price based on fair market value. 


In case the IGO subsidiary does not elect to acquire the stake, the parties will continue to work in an unincorporated joint venture. Furthermore, IGO agreed to subscribe to nine million fully paid ordinary shares in Venus Metals, at $0.16 (A$0.23) apiece. 


Venus Metals managing director Matthew Hogan said: “IGO Limited’s knowledge and technical expertise regarding LCT pegmatites and nickel-copper-platinum group metal sulphide exploration and development is invaluable for the highly prospective tenement package held by Venus Metals at Bridgetown Greenbushes, next to the world’s lowest cost and highest grade hard rock lithium mine.” 

Covid-19 latest 

Infection rates continue to rise 


There were 529.2 million total cases reported around the world by 30 May this year, an increase of 19.3 million since 26 April.


Over the same period there were 68,676 deaths, bringing the total global death toll to almost 6.3 million. 

Brazil, US and Italy lead in death rate per million people 


Brazil and the US both reported around 3,000 deaths between 11 May and 24 May, with Italy reporting a slightly lower figure.


However, the US and Italy reported fewer deaths in this fortnight than in the previous two-week period, from 27 April to 10 May. 

UK leads “top economies” in test rate 


The UK leads the world’s “top economies” with 7.5 million tests per million people, significantly ahead of France, in second place with 4.2 million tests per million people.


The UK has also reported a relatively low rate of positive test results, of just 4.37%, worse only than China’s 0.31%. 

Italy leads the world in booster dose administration 


83% of the population of Italy have been fully vaccinated and received a booster dose, more than France (81%), Germany (77%) and Spain (74%).


Just 47% of people in the US have been fully vaccinated and received a booster dose, despite more than 200 million people receiving full vaccinations. 

21 june | DEALS

Horizon to sell Australian gold project to FMR Investments


Gold developer Horizon Minerals has agreed to offload its Gunga West gold project in Western Australia (WA) to FMR Investments.


Located near Coolgardie in the WA goldfields, the Gunga West project was acquired by Horizon in 2019 as part of a larger asset swap with Northern Star Resources.


FMR will make a $275,138 (A$400,000) cash payment for the transaction. Horizon will have access to its Greenfields toll mill in Coolgardie, for the treatment of 200,000t of ore, effective from 2023.


Last year, Horizon Minerals agreed to purchase a 100% interest in the Bulong South, Glandore and Cowarna gold projects located in the WA goldfields from Aurenne Group.


Horizon managing director Jon Price said: “The sale of Gunga West is in line with our strategy of divesting non-core assets and listed investments and we will continue to do so where it adds value for shareholders."

8 june | DEALS

Austral reaches earn-in deals with Glencore unit


Copper producer Austral Resources Australia had signed earn-in deals with Glencore unit Mount Isa Mines (MIM).


Under the reciprocal non-binding exploration earn-in deals, MIM has the right to earn up to a 65% stake in Austral’s Queensland joint venture exploration permits by investing $6.3m (A$9.2m) in the area over a period of four years.


These permits surround MIM’s Lady Loretta zinc, lead and silver mine and Austral’s Lady Annie copper mine.


Concurrently, Austral can spend $2m (A$2.9m) in a four-year period to earn a 65% interest in MIM’s Russel Fault exploration permits.


Austral CEO Steve Tambanis said: “This is a win-win transaction for both Austral and Glencore with the potential to discover new orebodies that can extend operations of both companies in the region."

Covid-19 latest

Infection rates continue to rise 


There were 529.2 million total cases reported around the world by 30 May this year, an increase of 19.3 million since 26 April. Over the same period there were 68,676 deaths, bringing the total global death toll to almost 6.3 million. 

Brazil, US and Italy lead in death rate per million people 


Brazil and the US both reported around 3,000 deaths between 11 May and 24 May, with Italy reporting a slightly lower figure. However, the US and Italy reported fewer deaths in this fortnight than in the previous two-week period, from 27 April to 10 May. 

UK leads “top economies” in test rate 


The UK leads the world’s “top economies” with 7.5 million tests per million people, significantly ahead of France, in second place with 4.2 million tests per million people. The UK has also reported a relatively low rate of positive test results, of just 4.37%, worse only than China’s 0.31%. 

Italy leads the world in booster dose administration 


83% of the population of Italy have been fully vaccinated and received a booster dose, more than France (81%), Germany (77%) and Spain (74%). Just 47% of people in the US have been fully vaccinated and received a booster dose, despite more than 200 million people receiving full vaccinations.