The briefing on mining

The latest news, trends and data from the mining industry

NEWS IN NUMBERS

150

Continuing delays to an expansion of the New Acland mine in Queensland, Australia, will cost 150 jobs, according to the minister for resources, water and Northern Australia

383kt

Total exports of unwrought aluminium and semis products from China have reportedly declined to 383kt, for the third month in a row

40%

Rio Tinto will apparently not bid for the remaining 40% stake of its Diavik diamond mine, which Dominion is looking to sell along with its interest in the nearby Ekati mine.

A$10m

The government of Queensland, Australia, has announced A$10m of funding to support mine technology innovators and exploration for new economy minerals.

The latest from Twitter

S&P's analysis of major #gold discoveries identified no major discoveries in the past 3 years, and only 25 in the past decade. The world is increasingly short of large, high-quality assets needed to replace aging major gold mines. (Courtesy of S&P Global) #mining #exploration pic.twitter.com/d2J45v1Yff
— Gavin Wendt (@MineLifeReport) June 15, 2020

ICYMI - there's another $10M to find more new economy minerals. Explorers overwhelmingly responded to the last grant offer. Industry is keen & we are backing them to drive future resources projects & jobs. #UniteAndRecover @amec_org @QRCouncil https://t.co/xzDER7l5bk pic.twitter.com/8YIx3ynV9Q
— Dr Anthony Lynham MP (@DrAnthonyLynham) June 16, 2020

Copper has been revealed as one of the best surfaces for killing Covid. The Francis Crick biomedical institute has recently replaced all frequent-touch fittings in its HQ with copper.

Copper surfaces may soon become prevalent throughout hospitals and commercial buildings. pic.twitter.com/1NUAbMno4f
— Chesterfield Resources PLC (@ChesterfieldPlc) June 13, 2020

As always the key to finding a bottom in miners, is to look for a day when gold and silver correct strongly but where miners fall less, outperforming the metal and in fact reverse higher, leading the metals. $GDX $GLD $SLV
— Hedgehog Trader (@HedgehogTrader) June 15, 2020

Further reading: BHP pauses Pilbara expansion following Aboriginal backlash

BHP will place a hold on part of its South Flank expansion plans in Western Australia, after it was revealed the expansion would have destroyed upwards of 40 Aboriginal heritage sites.

Source: Mining-Technology

PROJECT NEWS

Santos signs gas supply deal with Gold Fields

Oil major Santos has inked an agreement to supply Gold Fields' three mines in Western Australia with 5.5PJ of natural gas over a three-year period. The gas will be drawn from its Varanus Island plant starting in July.

Glencore’s $1.5bn coal mine in Queensland granted special status

The Government of Queensland has recognised commodities trader and miner Glencore’s proposed A$1.5bn Valeria coal mine as a coordinated project.

The Valeria coal project is located near Capella town on the Central Highlands region in Queensland.

Codelco mine workers threaten to halt work amid Covid-19 concerns

Unionised workers at Chile’s state-run copper producer Codelco are threatening to halt work at some sites in order to implement a self-imposed quarantine after a union member died from Covid-19.

According to the Federation of Copper Workers (FTC), there have been “alarming” numbers of Covid-19 infections at several of the mines in the country and measures to contain its spread are insufficient.

TNG to delay Mount Peake offtake agreement with Vimson

Australian resource and mineral processing technology firm TNG and Indian mining conglomerate Vimson Group have delayed the completion of an offtake agreement due to the Covid-19 pandemic.

The agreement involves a life-of-mine (LOM) offtake of high purity iron ore products produced at TNG’s Mount Peake vanadium-titanium-iron project located in the Arunta province of Northern Territory, Australia.

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02/17/2024 06:41:54