R/€ = 14.86 Change: -0.05
R/$ = 12.63 Change: -0.05
Au 1290.25 $/oz Change: -2.63
Pt 904.50 $/oz Change: 2.81


Soaring coal royalties give Qld infrastructure spending a boost

By: Esmarie Swanepoel     22nd May 2018 Queensland coal royalties would soar to a record A$3.7-billion in the 2018 financial year, the Queensland Resources Council (QRC) predicted on Tuesday. QRC CEO Ian Macfarlane said the A$536-million increase on the government’s previous royalty estimates would allow the state government to... 

DGO takes interest in De Grey

By: Esmarie Swanepoel     22nd May 2018 ASX-listed DGO Gold has taken a 7% stake in fellow-listed De Grey Mining. Under the investment agreement, DGO would subscribe for 25-million ordinary shares in De Grey, prices at 20c each, for a total investment of A$5-million. 

Titan raises A$11m for Mirador acquisition

By: Esmarie Swanepoel     22nd May 2018 Peru-focused explorer Titan Minerals has raised A$11-million through a share placement to fund the acquisition of the Mirador copper and gold plant, and to fund exploration and development at its Torrecillas and San Santiago gold projects. The share placement, which was priced at 3c a share,... 

Verdant gets offtake interest at Ammaroo

By: Esmarie Swanepoel     21st May 2018 ASX-listed Verdant Minerals has signed a non-binding offtake memorandum of understanding (MoU) for the potential sale of 100 000 t/y of rock concentrate from its Ammaroo phosphate project, in the Northern Territory. The MoU was inked with fertiliser manufacturer and marketer Ameropa Australia. 

Antipa raises exploration funds

By: Esmarie Swanepoel     21st May 2018 ASX-listed junior Antipa Minerals will raise up to A$7.5-million through a share placement and entitlement offer to fund exploration at its Paterson projects, in Western Australia. The company will place some 270-million shares to new and existing shareholders in two tranches, to raise an... 

Bowen divests of Comet Ridge

By: Esmarie Swanepoel     21st May 2018 Queensland-based Bowen Coking Coal has entered into a binding agreement to divest of its Comet Ridge project for A$100 000 in cash and a 1.25% royalty stream from the first 2.8-million tonnes of coal produced. The ASX-listed junior told shareholders that the deal with Springsure Creek Coal... 

Intrepid looks at new options for Kitumba as Weatherly deal lapses

By: Esmarie Swanepoel     21st May 2018 ASX-listed Intrepid Mines on Monday said that it was considering alternative options for its Zambian assets, given the current copper price environment. The announcement comes after the Zambian Ministry of Mines and Minerals Development’s conditional approval for the sale of Intrepid’s Zambian... 

Takeovers Panel places interim order on Molopo transactions

By: Esmarie Swanepoel     21st May 2018 The Australian Takeovers Panel has restricted ASX-listed Molopo Energy from spending more than A$175 000 in any one transaction, without the consent of one or more of the panel members. Suitor Aurora Funds Management has applied to the Takeovers Panel requesting an interim order against Molopo,... 

Paringa raises A$30m for US coal mine

By: Esmarie Swanepoel     21st May 2018 Coal developer Paringa Resources has announced A$30-million capital raising to fund the development of its Poplar Grove coal mine, in the Illinois basin, Kentucky. The company on Monday said that some A$19.2-million had been raised through an institutional entitlement offer, which was priced at... 

Manas to farm-in on African gold project

By: Esmarie Swanepoel     18th May 2018 ASX-listed Manas Resources has signed an earn-in agreement with Perseus Mining to acquire a 70% interest in the Mbengue gold project, in Cote d’Ivoire. Manas has committed to an initial $300 000 of exploration expenditure in the first six months of the earn-in, to allow for further evaluation of... 

Lucapa's Lulo delivers up more diamonds for sale

By: Esmarie Swanepoel     18th May 2018 Diamond miner Lucapa Diamond Company has generated a further A$4-million in sales from a parcel of 1 632 ct of diamonds from its Lulo project, in Angola. The miner said on Friday that the parcel did not include the gem quality 46 ct pink diamond or other large special diamonds recently recovered... 

Centrex gets offtake interest at Ardmore

By: Esmarie Swanepoel     18th May 2018 ASX-listed junior Centrex Metals has signed a non-binding Memorandum of Understanding (MoU) for 300 000 t of phosphate rock offtake from its Ardmore project, in Queensland. The MoU, with Gujarat State Fertilisers and Chemicals (GSFC), would see the two companies negotiate the terms of a... 

KGL adds volumes at Jervois

By: Esmarie Swanepoel     18th May 2018 ASX-listed KGL Resources has reported an 18% increase in copper volumes at its Jervois project, in the Northern Territory, on the back of exploration. Total contained copper for the total project area has increased by 18%, to 384 800 t, with the overall grade increasing by 43%, to 1.53% copper. 

WA signs co-op agreement with Argentina

By: Esmarie Swanepoel     18th May 2018 The Western Australian government has signed an agreement with the government of Argentina to build a stronger mining and resource relationship between the two regions. Mines and Petroleum Minister Bill Johnston said the Memorandum of Understanding (MoU) will help develop a mutually rewarding... 

Australia’s MCA welcomes gold report

By: Esmarie Swanepoel     18th May 2018 The Minerals Council of Australia (MCA) has welcomed a new report by the World Gold Council (WGC), which states that gold will continue to be valued over the next 30 years, with new uses for gold meaning new opportunities for producers. “New uses for gold including in antibiotics, smartphones... 

Rio gets accreditation for AutoHaul

By: Esmarie Swanepoel     18th May 2018 Mining major Rio Tinto has been granted accreditation by the Australian Office of the National Rail Safety Regulator, approving its autonomous operation of trains at its iron-ore operations, in Western Australia. Rio implemented autonomous trains at its Pilbara operations in the first quarter of... 

Independence takes greater stake in Orion

By: Esmarie Swanepoel     18th May 2018 Diversified metals miner Independence Group has taken a bigger stake in South Africa-focused explorer Orion Minerals, increasing its shareholding from 4.2% to 11.1%. Independence will subscribe for A$5-million worth of Orion shares, priced at 5c each, with the two companies also entering into a... 

Nyrstar and South Australia disagree on loan repayment

By: Esmarie Swanepoel     18th May 2018 Belgium-based mining and metals group Nyrstar has maintained that it was within its legal rights to defer repayments on a loan to upgrade the Port Pirie smelter, after South Australian Treasurer Rob Lucas threatened the company with legal action. The redeveloped Port Pirie smelter was opened in... 

Kidman signs lithium supply deal with Tesla

By: Esmarie Swanepoel     17th May 2018 Lithium developer Kidman Resources has inked an offtake agreement with clean energy solutions provider Tesla to supply lithium hydroxide. The agreement is for an initial three-year term on a fixed price take-or-pay basis, with two three-year term options. 

Atlas flags up to A$100m impairment on lower grades, higher costs

By: Esmarie Swanepoel     17th May 2018 Iron-ore miner Atlas Iron has warned of a A$75-million to A$100-million noncash impairment charge for 2018, as iron-ore grades declined and costs increased. Atlas on Thursday told shareholders that it remained on track to ship between nine-million and ten-million tonnes of iron-ore during the... 

Harbour tweaks offer for Santos

By: Esmarie Swanepoel     17th May 2018 Takeover target Santos has received a revised offer from suitor Harbour Energy Australia. While the offer price has not been revised from the previous $4.98 a share, the revised proposal included a number of significant changes to the transaction structure, including a US dollar cash offer with... 

Battery Minerals raises A$20m for Montepuez

By: Esmarie Swanepoel     17th May 2018 ASX-listed junior Battery Minerals will raise A$20-million through a share placement to continue building its Montepuez graphite project, in Mozambique. The company on Thursday announced that about 333.33-million shares would be issued at 6c each to institutional and professional investors.  

Red River starts second underground mine

By: Esmarie Swanepoel     17th May 2018 Zinc producer Red River Resources has started the development of the Thalanga Far West underground mine, in Queensland. Far West is Red River’s second underground mine, and is estimated to host a mineral resource of 1.6-million tonnes, grading 1.6% copper, 2.1% lead and 6.5% zinc, and a reserve... 

Ammarroo slated for a 2019 construction - Verdant

By: Esmarie Swanepoel     17th May 2018 A feasibility study into the Ammarroo phosphate project, in the Northern Territory, has proven the project to be technically feasible, ASX-listed Verdant Minerals reported on Thursday. The feasibility study considered a Stage 1 development to produce one-million tonnes a year of phosphate rock... 

Azure looks at development options for Oposura

By: Esmarie Swanepoel     17th May 2018 ASX-listed Azure Minerals was investigating a number of development options at its Oposura zinc and lead-silver project, in Mexico. The company told shareholders that over a dozen metals trading companies and base metal smelters and shown interest in purchasing the zinc and lead-silver... 

First Quantum weighs further increases at Cobre Panama

By: Esmarie Swanepoel     17th May 2018 The Cobre Panama copper project, being developed by dual-listed First Quantum Minerals, is 72% complete and due for first concentrate production early in 2019. Project manager Gavin Ashley told delegates at the Latin America Downunder conference, in Perth, that the process plant would be... 

Australia urged to tap into multibillion-dollar lithium value-add potential

By: Esmarie Swanepoel     16th May 2018 The Association of Mining and Exploration Companies (Amec) has called on state and federal governments to encourage investment in the lithium-ion battery industry, to take advantage of Australia’s natural endowments. A new report by Amec on Wednesday noted that Western Australia mined about 60%... 

Fortescue seeks to replicate Pilbara success in South America

By: Esmarie Swanepoel     16th May 2018 Iron-ore miner Fortescue Metals is reportedly looking to replicate its iron-ore success from the Pilbara, in Argentina. Celebrating ten years of iron-ore exports from the Pilbara, Fortescue founder and chairperson Andrew Forrest said on Tuesday that the company was looking at early stage... 

BHP outlines plan to add 40% to its value

By: Esmarie Swanepoel     16th May 2018 Mining major BHP is aiming for a 40% increase in its base value by implementing six key strategies, CEO Andrew Mackenzie told delegates at the Bank of America Merrill Lynch Global Metals, Mining and Steel conference, in Florida, this week. The strategies included reducing unit costs by more than... 

No deal yet for Santos shareholder

By: Esmarie Swanepoel     16th May 2018 Shanghai-listed ENN Ecological Holdings on Wednesday refuted claims that it had reached an agreement with Santos suitor Harbour Energy over its 10.31% shareholding in the takeover target. ENN has advised Santos that the media speculation around its dealings with Harbour had been inaccurate,... 

Avanco a step closer to Pedra Branca

By: Esmarie Swanepoel     16th May 2018 Takeover target Avanco is one step closer to the grant of a provisional environmental licence for its Pedra Branca copper project, in Brazil, following a successful public hearing. The company on Wednesday reported that no objections were recorded at the public hearing, which indicated a strong... 

Sheffield secures port allocation for Thunderbird

By: Esmarie Swanepoel     16th May 2018 Mineral sands developer Sheffield Resources has signed a port access agreement with the Shire of Derby-West Kimberly, allowing the company access to a bulk handling facility and infrastructure at the port of Derby. Sheffield is hoping to export its mineral sands project from the Thunderbird... 

Arcadia on track or first production in 2019

By: Esmarie Swanepoel     16th May 2018 The Arcadia lithium project, in Zimbabwe, is on track to start production in the second quarter of 2019, with developer Prospect Resources appointing engineering firm DRA to provide engineering services and upfront design for the project. Prospect said on Wednesday that certain long lead items... 

Aurizon warns miners of train cuts

By: Esmarie Swanepoel     16th May 2018 Freight operator Aurizon has reportedly advised Queensland coal companies that it would ‘dramatically cut’ train movements on the Goonyella system of the Central Queensland Coal Network (CQCN). The Goonyella system connects several of Queensland’s largest metallurgical coal suppliers to the port... 

T2 increases offer for Realm Resources

By: Esmarie Swanepoel     15th May 2018 Suitor T2 Resources Fund has increased its takeover offer for ASX-listed Realm Resources from 90c a share to A$1 a share in cash. T2 said on Tuesday that the 11% a share increase amounted to a A$25.3-million increase in the offer price for Realm, which was now valued at A$253-million. 

Mining starts at Comet Vale

By: Esmarie Swanepoel     15th May 2018 Mining has started at the Comet Vale gold project, in Western Australia. ASX-listed Orminex on Tuesday said that its strategic partner, underground mining contractor GBF Mining has started work on a decline which marked the start of the 27-month mine plan. 

Qld urges action around North West tender

By: Esmarie Swanepoel     15th May 2018 The Queensland government has urged explorers to bid to explore the North West minerals province, before the latest exploration tender closes on May 24. The tender area covers more than 10 000 km2 of the state’s north west. 

Sal de Vida to cost more - Galaxy

By: Esmarie Swanepoel     15th May 2018 An updated feasibility study (FS) into the Sal de Vida lithium project, in Argentina, has increased the expected capital costs, while increasing the project’s expected net present value. ASX-listed Galaxy Lithium on Tuesday reported that the updated FS estimated a capital cost of $474-million,... 

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