Mining Weekly Daily Update - Australasia

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Australasia Edition	Au 1278.83 $/oz     Pt 883.50 $/oz            Indices supplied by IRESS as at 18:43 on 18 June 2018 CAT	18th June 2018

News Roundup South32 offers $1.3bn for rest of Arizona By: Esmarie Swanepoel Diversified miner South32 has struck a $1.3-billion takeover deal with TSX-listed Arizona Mining, offering to acquire the remaining 83% interest in the company through an all-cash offer. South32 is offering Arizona shareholders C$6.20 a share for their interest in the TSX-listed miner, which...      South32 CEO Graham Kerr        Rinehart’s Hancock bids $390m for Atlas, trumps MinRes offer By: Esmarie Swanepoel Gina Rinehart’s Hancock Prospecting has solidified its intentions for ASX-listed Atlas Iron, revealing a 4.2c a share takeover offer, or A390-million, for the Pilbara iron-ore miner. Atlas told shareholders on Monday that the Hancock offer, which would open in about two weeks’ time, would be... Rio spending $2.2bn on iron-ore supply By: Esmarie Swanepoel Diversified miner Rio Tinto on Monday revealed that it will be spending some $2.2-billion over the next three years on replacement mines for its iron-ore operations in the Pilbara, including initial spending on the proposed Koodaideri, West Angelas and Robe Valley developments. Rio’s iron-ore... Senex and Jemena strike deal to fast-track project for east coast gas supply By: Esmarie Swanepoel ASX-listed Senex Energy has struck an agreement with infrastructure operator Jemena to partner on the accelerated development of Project Atlas, in Queensland, to deliver first gas to the domestic market by late 2019. Under the agreement, Jemena will build, own and operate a gas processing... Santos awards Barossa contracts By: Esmarie Swanepoel Oil and gas major Santos has awarded three major engineering contracts on the front-end engineering and design (FEED) phase of its Barossa offshore project. Santos on Monday said that separate engineering contracts for the proposed floating production storage and offloading facility (FPSO) have... Finders reports wall failure at Wetar By: Esmarie Swanepoel Copper miner Finders Resources has reported a wall failure at its Kali Kuning openpit mine, at the Wetar copper project, in Indonesia. The company on Monday said that 175 000 bank cubic meters of waste rock from the north-eastern high wall were displaced into the pit on June 14, with mining... Pilgangoora ships first lithium DSO By: Esmarie Swanepoel The first 85 000 t of direct shipping ore (DSO) from the Pilgangoora lithium/tantalum project, in Western Australia, has been shipped by ASX-listed Atlas Iron under a mine gate sales agreement with producer Pilbara Minerals. The lithium was exported to China under an offtake agreement under... Red 5 divests of Mt Cattlin royalty By: Esmarie Swanepoel ASX-listed junior Red 5 has entered into an agreement to divest of its royalty entitlement from the Mt Cattlin lithium mine, in Western Australia, to Canadian royalty company Lithium Royalty Corporation (LRC). Red 5 owns the right to receive A$1.50/t of ore processed from the Mt Cattlin mine,... Havilah reveals maiden reserve at Kalkaroo By: Esmarie Swanepoel Junior Havilah Resources has reported a maiden ore reserve of 474 000 t of contained copper and 1.41-million ounces of gold at its Kalkaroo copper/cobalt/gold project, in South Australia. The ASX-listed Havilah noted that the ore reserve estimate did not include cobalt at this stage, with the... Australia's Port Kembla reopens after cargo ship blaze By: Reuters A fire in the hold of a bulker ship on Monday briefly closed Australia's Port Kembla, the second-largest coal export port in New South Wales state, stopping shipping for eight hours. The port was shut soon after the blaze began before dawn on the MV Iron Chieftain as it unloaded dolomite, a... Tshipi may distribute R1.5bn to shareholders in Sept By: Creamer Media Reporter Tshipi é Ntle Manganese Mining, in which ASX-listed Jupiter Mines owns a 49.9% stake and which operates the Tshipi Borwa mine, expects to distribute R1.5-billion to its shareholders in September. In an update on Monday, Jupiter said Tshipi’s operations continue to exceed plan with annualised... High Court lifts interim order against MC Mining's Makhado project By: African News Agency MC Mining, previously known as Coal of Africa, on Monday said it welcomed a high court decision to lift an interim order against the company's environmental authorisation for the Makhado hard coking and thermal coal project. The court had in 2014 granted the Vhembe Mineral Stakeholders Forum and... Samarco is said to be nearing settlement with Brazil prosecutors By: Bloomberg After a year of back and forth, the owners of the idle Samarco iron-ore mine are close to signing a definitive settlement with Brazilian prosecutors that will clear the way for restart preparations and debt talks to begin, according to people briefed on the matter. Joint venture partners Vale... India is said to plan to sell a stake in State-run coal miner By: Bloomberg Prime Minister Narendra Modi’s administration is planning to offload a stake in State-run Coal India to speed asset sales after a disastrous attempt to find a buyer for the cash-strapped national airline, people with knowledge of the matter said. The Department of Investment and Public Asset... Correction: Independence Group nine-month output Diversified metals miner Independence Group has delivered 14 914 t of nickel in concentrate, 6 315 t of copper in concentrate and 490 t of cobalt in concentrate in the nine months to March. Mining Weekly incorrectly stated on June 14 that the nine-month production was the full-year guidance. Construction 2018: A review of South Africa's construction sector (PDF Report) Creamer Media’s Construction 2018 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment, key participants, local demand, international expansion, competition and industry settlement activities, corporate activity of... LATEST VIDEOS De Beers concludes R600m transport empowerment deal at Venetia diamond mine   By: Martin Creamer Diamond-mining company De Beers Consolidated Mines (DBCM) has concluded the process of selecting six local black economic empowerment (BEE) partners as part of an impressive R600-million-to-R700-million, eight-year transport empowerment initiative at the Venetia diamond mine in South Africa’s... Manage Your Newsletters Subscriptions Advertise

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Australasia Edition

Au 1275.40 $/oz     Pt 866.50 $/oz            Indices supplied by IRESS as at 18:41 on 19 June 2018 CAT

19th June 2018

Asia's thermal coal demand poised to grow By: Esmarie Swanepoel Asia’s thermal coal demand could increase by some 400-million tonnes by 2030, a new report commissioned by the Minerals Council of Australia (MCA) found. Asian thermal coal demand is expected to grown from the 740-million tonnes in 2017, to 1.147-billion tonnes in 2030.      Photo by Bloomberg        MinRes given tight deadline to improve Atlas bid By: Esmarie Swanepoel Iron-ore miner Atlas Iron has given suitor Mineral Resources (MinRes) three business days to match the takeover offer Hancock Prospecting put on the table earlier this week. Hancock on Monday revealed a 4.2c a share cash offer for Atlas, in which it already holds a 19.96% interest. Alicanto tumbles on Barrick exit By: Esmarie Swanepoel The share price of ASX-listed Alicanto Minerals dropped by more than 20% on Tuesday after Canadian miner Barrick Gold Corporation withdrew from the Arakaka earn-in agreement, in Guyana. Barrick had the option of earning a 65% interest in the project by spending $10-million on the project area,... OceanaGold ups 2018 gold guidance By: Mariaan Webb A strong operating performance in the first half of 2018 has seen dual-listed OceanaGold increase its gold production guidance for the year to between 500 000 oz and 540 000 oz. The new guidance, announced on Tuesday, compares with the company’s previously stated production target of 480 000 oz... Rio takes Alloy up on Paterson offer By: Esmarie Swanepoel ASX-listed Alloy Resources has signed a farm-in and joint venture agreement with the exploration arm of major Rio Tinto over an exploration license in the Paterson region of Western Australia. Under the terms of the agreement, Rio Tinto Exploration could earn a 70% interest in the tenement by... Latin Resources secures funds for lithium expoloration By: Esmarie Swanepoel Minerals explorer Latin Resources has secured a A$6-million convertible security funding agreement (CSFA) with an optional equity earn-in into the company’s lithium projects in Argentina, with financier Lind Asset Management XII. The funding will include an initial A$2-million, which will be... BHP offers August loading LNG cargo from Australia export plant - sources By: Reuters Global mining and resources company BHP is offering to sell a liquefied natural gas (LNG) cargo from its North West Shelf export plant in Australia, two trade sources said on Tuesday. The cargo will load over the August 15 to 17 period and is offered on a free-on-board basis, they said. Argosy declares maiden resource at Rincon By: Esmarie Swanepoel ASX-listed Argosy Minerals has reported a maiden inferred mineral resource of 207 957 t of contained lithium carbonate equivalent at its Rincon lithium project, in Argentina. MD Jerko Zuvela said on Tuesday that the resource estimate would support production targets at Rincon, which Argosy was... South Korea lobbies India to relax gold import restrictions By: Ajoy K Das The review and upgrade of the free trade agreement (FTA) between India and South Korea is facing a speed bump, with the latter seeking a relaxation of gold import restrictions. The South Korean government wants restrictions on gold shipments into India, imposed last year, to be scrapped,...

Europa Metals starts Toral scoping study By: Creamer Media Reporter Explorer Europa Metals has appointed UK-based Addison Mining Services to conduct an initial scoping study on the Toral lead, zinc and silver project, in Leon, Spain. Addison previously compiled the Toral project's mineral resource estimate, which states that the project has a metal content of... Materials Handling & Logistics 2018 (PDF Report) Creamer Media’s Materials Handling & Logistics 2018 Report provides an overview of the sector while considering initiatives in road freight, the way in which the freight logistics sector is adopting the Internet of Things into operations, innovations in warehousing, skills availability and...

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Australasia Edition

Au 1274.35 $/oz     Pt 876.00 $/oz            Indices supplied by IRESS as at 18:29 on 20 June 2018 CAT

20th June 2018

NSW miners deliver record royalties By: Esmarie Swanepoel The resource sector delivered a record A$1.8-billion in royalties to the New South Wales budget in the last year, and was expected to contribute a further A$7.4-billion over the next four years to 2021-22. The New South Wales government this week predicted a surplus of A$3.9-billion for 2017-18,...

Photo by Bloomberg

MinRes declines to up Atlas offer By: Esmarie Swanepoel ASX-listed Mineral Resources (MinRes) on Wednesday announced that it will not make a counter offer for iron-ore miner Atlas Iron. MinRes had been given three business days to come up with a new offer for Atlas after Hancock Prospecting launched a 4.2c a share cash offer for Atlas, in which it... BHP to sell Chile copper mine to EMR Capital By: Mariaan Webb Global mining major BHP has agreed to sell its Cerro Colorado copper mine, in Chile, to private equity manager EMR Capital, the Melbourne-headquartered company announced on Tuesday. The transaction consists of a cash consideration of $230-million and about $40-million in proceeds from the... Queensland miners promise more jobs By: Esmarie Swanepoel New research by the Queensland Resources Council (QRC) has revealed that miners in the state were planning to increase employment on the back of a sustained lift in global commodity prices and record production. In its latest State of the Sector report, the QRC revealed that 52% of resources... Qld releases more exploration acreage By: Esmarie Swanepoel The Queensland government has set aside more than 44 000 km2 of land for resource exploration, Natural Resources, Mines and Energy Minister Anthony Lynham said. Speaking at a conference in Brisbane, Lynham said it was the largest amount of land released under the state’s exploration program and... Deflector production set to rise By: Esmarie Swanepoel Gold miner Doray Minerals was expecting record gold production from its Deflector mine, in Western Australia, during the 2019 financial year. The ASX-listed company on Wednesday told shareholders that Doray is expected to deliver between 80 000 oz and 85 000 oz during the 2019 financial year,... NT govt looking for remediation partners By: Esmarie Swanepoel The Northern Territory government has released two tenders for remediation works at abandoned openpit mines as part of its plans to develop Tennant Creek as a mining services hub. “Tennant Creek has a long mining history and many old mines pre-date the requirement for operators to leave them in... Hill End puts for sales sign on gold assets By: Esmarie Swanepoel ASX-listed Hill End Gold has announced plans to divest its gold assets, following a strategic review. Hill End in May appointed PCF Capital Group to conduct a review of the company’s gold assets, in order to unlock value. Capricorn improve Karlawinda economics By: Esmarie Swanepoel An optimisation study of the Karlawinda gold project, in Western Australia, has delivered a 69% increase in the forecast pre-tax net present value, while also reducing up-front capital costs by 10%. ASX-listed Capricorn Metals on Wednesday reported that the pre-tax net present value for the...

Metro raises A$17m By: Esmarie Swanepoel Bauxite miner Metro Mining has completed a bookbuild to raise A$17.5-million to strengthen the company’s balance sheet. The institutional placement has been priced at 20c a share, and due to strong demand, the placement was upsized by A$2.5-million. Xanadu raises A$10m for exploration By: Esmarie Swanepoel Copper and gold explorer Xanadu Mines has raised A$10-million through an oversubscribed placement to accelerate resource drilling at its Kharmagtai copper/gold project, in Mongolia. The placement comprised some 58.9-million shares, priced at 17c each, to institutional and sophisticated investors. Matsa signs gold deal with AngloGold Ashanti By: Esmarie Swanepoel Junior gold producer Matsa Resources has inked a memorandum of understanding (MoU) with gold major AngloGold Ashanti over Matsa’s extensive Lake Carey gold project, in Western Australia. The MoU would see the two companies negotiating technical data and infrastructure sharing, with AngloGold...