The mining industry briefing
The latest news, trends, and data from the mining industry
News in numbers
$2.67bn
South32 has reported an annual statutory profit after tax of $2.67bn for the year ended 30 June 2022, versus a loss of $195m in the same period last year.
$420m
A subsidiary of GMR Power and Urban Infra’s will sell a 30% stake PT Golden Energy Mines Tbk to PT Radhika Jananta Raya for $420m.
$380m
Stanmore Resources has agreed to purchase the remaining 20% stake in Stanmore SMC, a metallurgical coal joint venture in Queensland, from Mitsui for $380m.
$169m
Coronado Global Resources has unveiled plans to invest $169.1m to expand coal mining operations at its Buchanan Mine Complex in the US state of Virginia.
$153m
The Mongolian Government has agreed to a $153.5m settlement agreement with Mongolian Copper Corporation to resolve a dispute over Erdenet and Monros mines.
Project updates
Rio Tinto has signed an arrangement agreement to purchase the remaining 49% stake in Turquoise Hill Resources for $3.3bn.
Turquoise Hill’s independent directors have unanimously recommended its minority shareholders vote in favour of the deal.
South32 had decided to abandon its plans for the $700m expansion of its Dendrobium metallurgical coal mine in New South Wales, Australia, due to limited potential returns.
The decision comes more than a year after the planned extension project was blocked by an Australian planning body citing concerns over its potential irreversible impact on water resources in Sydney.
Aguia Fertilizantes, the Brazilian division of Australia’s Aguia Resources, is planning to build phosphate mine in southern Brazil, reported Reuters citing Aguia Fertilizantes CEO Fernando Tallarico.
Tallarico said that the firm expects to receive an installation licence around October 2022. This is needed to commence construction work at the project.
Impact Minerals has agreed to divest a 75% interest in its 100%-owned Commonwealth gold-silver-base metals project in New South Wales, Australia, to Burrendong Minerals.
Under the agreed terms, Impact will receive $16,872.50 (A$25,000) in non-refundable option fee for an eight-week exclusivity period from Burrendong.
FURTHER READING
Asia-Pacific’s mining industry IT hiring activity rises 1.4% in August 2022
Asia-Pacific witnessed a 1.4% rise in IT hiring activity in the mining industry in August 2022 when compared with the previous month, according to GlobalData’s Job Analytics dashboard.
August 2022 has seen an increase of 2.3% in the overall hiring activity when compared with July 2022. IT jobs accounted for a 4.17% share in the industry’s total hiring activity in August 2022, registering an increase of 0% over the last three-month average share.
Software and web developers, programmers and testers emerged as the leading IT occupations in Asia-Pacific with a share of 37.68% in August 2022, a 23.81% rise over the previous month.
Source: Mining Technology
