Red River Resources Limited has announced that a review of the historic Thalanga exploration database has identified a number of additional high priority exploration targets at its Thalanga Zinc Project in central Queensland. The review has confirmed that the favourable Thalanga Horizon is open at depth to the west and the east, and has highlighted a number of areas for further high priority exploration. Of particular interest is the Thalanga East to Far East area, where the review highlighted a historic drill hole intercept of 4.6m @ 4.1% Cu beneath Thalanga East and multiple intercepts of polymetallic zinc rich mineralisation…
Australian mineral exploration company, Corazon Mining Limited has announced a high grade copper mineralisation from a recently completed surface rock-chip sampling program at the Mount Gilmore Cobalt-Copper-Gold Project in New South Wales Australia. Corazon has secured the right to earn up to 80% of the Mt Gilmore Cobalt-Copper-Gold Project from private company Providence Gold and Minerals Pty Ltd and is currently completing due diligence. The surface rock-chip sampling being reported was undertaken by Providence; these results have been received by Corazon and as such additional disclosure is required by the Company. Rock-Chip Sampling Program A total of 76 rock-chip samples…
Carrapateena in South Australia is shaping up as a major copper-gold project. In a statement last month, the proponent (OZ Minerals) made clear its commitment to the project. The ore-production rate is to be increased over what was previously planned; work on a decline will commence next month (mining will be underground); and final processing will take place at Whyalla, a regional city approximately 200 kilometres south of the minesite. All going well, construction will commence next year, with first production in 2019. Estimated capital cost: nearly A$1 billion (over US$700 million). OZ Minerals says that the choice of Whyalla…
The Government has approved two proposals from Rio Tinto to develop new deposits in the Pilbara, Western Australia, prolonging the life of existing mining operations. Announcing the approvals, State Development Minister Bill Marmion said the projects would deliver both short and long-term benefits for the State. "This is great news for the resources sector and will create opportunities for workers and contractors who are doing it tough in the current climate," Mr Marmion said. "These approvals will allow Rio Tinto to maintain its current level of production at two sites, Yandicoogina and West Angelas." The Minister has given approval for…
Mineral Resources of Perth is a mining company, but it is also a mining-services company, offering services in fields such as crushing and pipeline design and construction. The company is developing a new transport system for taking iron ore from its Iron Valley mine in the Pilbara region to Port Hedland for shipping. The system is an elevated rail line. Mineral Resources says that it occupies a “niche between heavy rail and conveyor”, adding that it is “significantly less capital intensive than traditional heavy-haul rail” (see further information). The system will be open to third-party users. It has the potential…
Sand mining on North Stradbroke Island is to substantially cease by 2019, with the Queensland Parliament voting in favour of the phase-out to allow the creation of new, sustainable jobs. The North Stradbroke Island Protection and Sustainability and Other Acts Amendment Bill 2015 to end sand mining was passed in the Queensland Parliament early today (Thursday). Environment Minister Dr Steven Miles said it was a good result for the environment and would ultimately open up new and exciting opportunities for the island community, leading to positive economic outcomes. “Today marks the start of a new chapter for North Stradbroke Island,”…
The company developing a greenfield coal project at present may appear to be brave, but at least three such projects are at an advanced planning stage in Australia. The first is Meteor Downs South in Queensland. This will be a small, low-cost operation, entailing open-cut mining and simple processing. It will produce thermal coal (used for electricity). Subject to final approval by the proponents (a Chinese company and a Japanese company), construction will commence by the end of the year. The second is a much larger, Chinese-driven project: Hillalong, also in Queensland. With an estimated capital cost of A$600 million,…
Newcrest has finalised the sale of its Newcrest Singapore Holdings Pte Ltd (NSH) to Indotan Halmahera Bangkit for $90m. NSH owns 75 per cent of PT Nusa Halmahera Minerals (PT NHM), which operates the gold and silver Gosowong mine in Indonesia. All conditions precedent have been satisfied and economic ownership has transferred with an effective date of 31 December 2019. The sale of NSH follows a strategic review of the asset by Newcrest and to comply with the amended PT NHM Contract of Work which required at least 51 per cent of PT NHM to be owned by Indonesian parties…
Copper Mountain Mining Corporation has revised its mine plan and project schedule at its Copper Mountain Mine, located in Southern British Columbia, Canada, in response to current market conditions and uncertainty. In order to maintain positive margins and cash flow amidst near-term copper price uncertainty as a result of the Coronavirus’ impact to metal prices, the company will make the following changes: Deferral of Ball Mill #3 installation capital expenditures, saving US$22 million in 2020. Reducing operating costs by re-sequencing short term production to lower cost mine phases. Preserving high grade ore in Pit #3 scheduled for mining in 2020…
AngloGold Ashanti has reached an agreement to sell its remaining South African producing assets and related liabilities to Harmony Gold Mining Company Limited. Consideration for the transaction is in cash and deferred payments with expected proceeds of around $300 million, subject to subsequent performance, and with additional proceeds if the West Wits assets are developed below current infrastructure. AngloGold Ashanti announced in May 2019 that it was undertaking a process to review sale options for the portfolio of assets, principally comprising the Mponeng underground mine, where further capital, necessary to extend the mine life was in competition with other, higher-return…
Rio Tinto has announced the company will conduct a strategic review of the ISAL smelter in Iceland, to determine the operation’s ongoing viability and explore options to improve its competitive position. ISAL is expected to remain unprofitable in the short to medium term in the challenging conditions facing the aluminium industry, due to the smelter’s uncompetitive energy costs and historically low aluminium prices. Rio Tinto will continue discussions with the Government of Iceland and power provider Landsvirkjun on how the smelter can return to profitability and become competitive in the global market. Rio Tinto Aluminium chief executive Alf Barrios said…
Glencore has signed a five-year agreement for the supply of cobalt hydroxide for use in lithium-ion batteries. Under the terms of the new supply contract, Glencore will provide up to 21,000 tonnes of cobalt contained in cobalt hydroxide between 2020 and 2024 to Samsung SDI . Glencore produced 42.2 kilotonnes of cobalt in 2018, mainly as a by-product of copper mining. The cobalt will be sourced from Glencore's Katanga and Mutanda operations which are located in the Democratic Republic of the Congo (DRC). Glencore and Samsung SDI state that they are committed to ensuring the ethical and responsible production and procurement of…
Rio Tinto has decided to curtail operations at Richards Bay Minerals (RBM) in South Africa to ensure the safety and security of its employees due to an escalation in violence in the communities surrounding the operations. RBM is South Africa’s largest mineral sands producer and beneficiation company. It produces predominantly rutile, zircon, titania slag and high purity iron. Rio Tinto noted that there has been an escalation of criminal activity towards RBM employees and one was shot and seriously injured in the last few days. As a result, all mining operations at RBM have been halted and the smelters will…
Rio Tinto has announced that it plans to conduct a strategic review of its interest in New Zealand’s Aluminium Smelter (NZAS) at Tiwai Point, to determine the operation’s ongoing viability and competitive position. NZAS is a joint venture between Rio Tinto (79.36 per cent) and Sumitomo Chemical Company Limited of Japan (20.64 per cent). It is New Zealand’s only aluminium smelter and began operations in 1971. The plants produces primary aluminium in the form of ingot, billet, and rolling block. The majority of the plant's alumina is supplied from the Rio Tinto Yarwun and Queensland Alumina refineries at Gladstone in…
