The briefing on mining
The latest news, trends and data from the mining industry
NEWS IN NUMBERS
Gold had its biggest weekly loss in two years for the week starting 04/11 as China and the US approached a trade agreement
Australian iron ore exports are expected to reach new heights as majors expand their capacity
Decmil Group has received work contracts for Adani Mining’s Carmichael coal and rail project worth A$41m
TerraCom intends to purchase approximately 19.9% of the issued capital of Universal from Coal Development Holding
The latest from Twitter
According to the Australia Institute poll, Australians believe coal mining accounts for 12.5% of Australia’s economic output & employs 9.3% of its work force. “In reality coal mining employs only 0.4% of workers in Australia &is 2.2 % of G.D.P.” #auspol https://t.co/BDCkB28oFt— Richard Denniss (@RDNS_TAI) November 6, 2019
Further reading: BHP shareholders unlikely to break ties with coal lobby groups
BHP shareholders have voted against a plan to cut ties with organisations that do not support the Paris Agreement. Only 27% were in support of the motion and only 15% backed a further motion to amend the company's constitution to allow the proposal of changes at future AGMs.
Source: Australian Mining
Magnetite Mines completes “positive” study of Razorback iron project
Australian iron ore mining company Magnetite Mines has completed a scoping study into the Razorback iron project in South Australia, confirming the company’s view that the project could be economical. The Razorback project is a magnetite iron ore project 100% owned by Magnetite Mines, located northeast of Adelaide, near the regional town of Yunta.
Lynas and MARA sign MoU to work on new projects in Malaysia
Rare-earths mining company Lynas has signed a memorandum of understanding (MoU) with Malaysian Government agency MARA to collaborate on new projects. The collaboration is aimed at attracting downstream industries and customers to Malaysia.
Newcrest approves first-stage expansion of Cadia project
The board of Australia-based Newcrest Mining has approved an A$685m ($463.8m) investment for Stage 1 of the Cadia expansion project in New South Wales. The planned two-stage expansion project has a total capital cost of $865m and an expected real net present value (NPV) of $1.17bn.
BHP sets final investment decision on Jansen potash project for 2021
Anglo-Australian mining multinational BHP has announced that it will make a final investment decision (FID) on the Jansen potash project in Canada in 2021. The Jansen project is a proposed underground potash development project located in Saskatchewan, within the Prairie Evaporite formation at depths of 900m- 1,000m.
New report: gold and climate change
The World Gold Council has launched a report titled ‘Gold and Climate Change: Current and future impacts’ aiming to provide clarity to investors and industry stakeholders on gold’s emission profile.
This graphic rom the report shows potential emissions reduction and transition pathways for gold:
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