News Articles for Glencore

Taxpayers will fund Swiss mining giant Glencore to the tune of $600 million over three years to save its ailing copper facilities and potentially hundreds of jobs.

Shares in ASX-listed Cobalt Blue surged after it locked in a supply contract with mining major Glencore to feed its early-stage cobalt and nickel refinery project in Kwinana.

St John WA has opened a new building to accommodate touring volunteers – ‘voluntourists' – travelling to the Goldfields town of Laverton.

Global metals-trading giant Glencore has cast its eye across Estrella Resources' manganese ground in Timor-Leste, where the latter has unveiled high-grade rock-chip assays hitting up to 57 per cent manganese at its Sica and Lalena prospects in the nation's Lautém Municipality. The results, which highlight the high-grade nature of manganese mineralisation in the largely untapped region, have marked a major step forward for Estrella's exploration.

The European Union has delivered ASX-listed Neometals a crucial endorsement for its vanadium recovery project in Finland, co-funding part of the company's bid to become Europe's first vanadium producer. The funding deal for the project that refines waste from steelmaking into the valuable vanadium battery metal was executed with Germany's EU-backed EIT RawMaterials and could be worth up to some AU$42.3 million.

Empire Energy Group has taken a significant step towards becoming the first gas producer from the Beetaloo Basin after inking a 10-year supply agreement with the Northern Territory Government for 25 terajoules of gas per day. The deal takes the company closer to a final investment decision on its Carpentaria pilot project and would see it supply a total 75 petajoules over a decade.

With Mineral Resources turning a chapter and pulling the plug on its Yilgarn iron ore hub in Western Australia, the race for potential suitors vying for a look in at Esperance's newly-released rail and port capacity is hotting up. And the star-studded list of runners and riders positioning at the starting blocks makes for some very interesting reading.

The fallout from BHP mothballing its Nickel West operations has had a ripple effect through engineering and haulage contractors, fellow miners, airlines and power suppliers.

BHP's Geraldine Slattery outlines why Nickel West is being mothballed, what needs to happen to fire it back up, and what will happen in the interim

A senior Indonesian official has warned the nation has little interest in letting nickel prices rise above $US18,000 per tonne as analysts send mixed signals around the beleaguered battery metal's revival.

Glencore appears set on keeping its WA nickel mine running despite the metal's unprofitability forcing one of the miner's other nickel operations into care and maintenance.

Software provider K2fly says cost management remains its major focus as the company's latest financial report today revealed a remarkable 14th consecutive quarter of annual recurring revenue growth. The ARR was at $8 million in the past quarter, up 16 per cent compared to the previous corresponding period (PCP) and revenue was at $3.4million, up 21 per cent from the PCP.

While 2023 saw explorers flock to the James Bay region of Quebec in Canada, a host of ASX-listed companies set their sights further north to the province of Nunavut to hunt for gold, copper and critical minerals. With Quebec becoming a little too popular, several hopefuls decided to roll the dice in the cold, but far less crowded province of Nunavut.

Software provider K2fly has initiated a sweeping strategic review of its operations in a swift boardroom move designed to maximise the full potential of its innovative resource governance software solutions. After posting 13 quarters of increasing revenue on the trot, K2Fly has vowed not to sit on those laurels and has appointed Argonaut PCF and Atrico as joint advisors to steer its review.

Battery mineral explorer Galan Lithium has struck an offtake deal and potential financing package worth up to US$100 million with global miner Glencore.

Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company's positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.

Soil sampling by WA-based explorer Alma Metals at its Briggs project in Queensland has expanded its soil copper anomaly out to 2300m long and 1000m wide, with readings of more than 500 parts per million copper. Management says the work has allowed it to revise its target of 480 million tonnes to 880 million tonnes at between 0.20 per cent and 0.30 per cent copper.

Perth-based Neometals says its indirectly-owned subsidiary Novana Oy and Glencore International have penned an offtake agreement to lock in the exclusive sale of battery metal vanadium for five years. Glencore will buy all of the vanadium product, sourced from Finnish steel slag, from Novana starting in January, 2026. It will also continue to provide technical guidance throughout the vanadium recovery project.

ASX-listed Estrella Resources has run the rule over a promising 5A nickel target at its Spargoville project, 20km south-west of Kambalda in WA's Goldfields, and has opted for an underground decline operation over open-pit mining. The company will now press full-steam ahead towards restarting the historic mining at Spargoville of nickel – now a much-needed battery metal.

Leeuwin Metals' debut on the ASX has marked the end of a two-month initial public offering drought for Western Australian companies.

ASX listed Estrella Resources has completed the mining and crushing phase of its nickel sulphide extraction program using ore from its 5A nickel mine near Kambalda in WA. The company plans to treat the high-grade material at Glencore's Murrin Murrin facility after sealing an offtake and processing agreement late last year.

Software business K2fly has been contracted by Rio Tinto for another of its mining packages, the resources giant signing on for its Reconciliation Module in a three-year deal worth $360,000. It's the first sale of the product to any tier 1 miner and the sixth software solution the Subiaco-based company has sold to the global diversified company.

Mineral Explorer Si6 Metals has wrapped up a 119-hole, 5636m air-core drilling program at its Monument gold project in WA's Goldfields region where the company is already sitting on a 3.3 million t

Mining software provider K2fly has tabled some healthy numbers from the September quarter with the company achieving record highs in its core metrics thanks to continued major tier 1 contract wins. The company operates in the global resources space under a ‘Software as a Service' business model – meaning its product is delivered on a subscription basis.

Si6 Metals has kicked off a follow-up air-core drilling program at the company's Monument gold project in WA's Goldfields region. The 120-hole campaign will probe 6000m across four high-priority target areas as the company looks to build on wide zones of gold mineralisation encountered in May. About a quarter of the air-core volley will be aimed at potential extensions of Glencore's world-class Murrin Murrin nickel laterite operation proximal to the south-west.

Coda Minerals has wrapped up its maiden 27-hole, 2800m RC drilling campaign at its Cameron River copper-gold project located in the world-class Mt Isa mineral province in North Queensland. Early visual identification of copper-bearing sulphides in samples, backed up by anomalous pXRF analysis, suggests the company has tapped into a copper-mineralised system. Assay results from the program are expected later this year.

ASX-listed mining software provider K2fly has strengthened its ties with Imerys Group after inking a three year contract for use of its Land Access solution. The three year deal has a total contract value of $860,000 and an annual recurring revenue of $123,000 in exchange for a system that manages land access, studies, approvals, stakeholder engagement, operations and land use.

Coda Minerals has launched a 30-hole, 3000m RC drill campaign at its Cameron River copper-gold project near Mt Isa in Queensland's north. The company will use the probe to test a suite of promising geochemical and induced polarised targets at the site and plans to have the program completed in about 3 weeks.

ASX-listed mining software firm K2fly has tabled record growth in key metrics for the June quarter and the 2022 financial year after continuing its hot streak of contract wins. The company posted record results in annual recurring revenue, invoices raised and cash receipts in addition to closing out the financial year with a cashflow-positive quarter of $1.7 million.

K2fly has tabled some healthy numbers from the March quarter with record invoices of $3.3m, maintaining its all-time high total contract values of $16.6m and cracking the $5m mark in annual recurring revenue for the first time. The company operates in the global resources space under a ‘Software as a Service' business model – meaning it delivers its software on a subscription basis.

Cobalt from Australia's Murrin Murrin mine will power General Motors' Chevrolet Silverado, GMC Hummer and Cadillac Lyriq electric vehicles under a new deal.

After successfully shaking the tin for $6.2m, K2fly now has the largest privately owned mining software provider in the world on its register. Australian based Maptek has emerged from K2fly's latest capital raise with a 13.2 per cent holding in the ASX-listed mining software player. The deal also includes Maptek Chairman Peter Johnson taking a seat on the K2fly board as a non-executive director.

Comet Resources is raising $50 million to cover restart and acquisition costs for Glencore's Queensland Mt Margaret Copper project, which has been out of action since 2014.

It may be over half a century on but kick-starting gas supply out of the Northern Territory's Beetaloo Basin and the historic move to get oil flowing from the Bass Strait share similar themes. There's an interesting discussion happening in Australia regarding energy security right now that assumes greater importance during times of high energy and/or geopolitical instability.

A US company associated with Bill Beament and Nev Power is set to purchase Glencore's CSA copper mine for $US1.1 billion ($A1.5 billion).

Shares in the Chile-focused copper play closed 16 per cent higher after confirming its biggest shareholder had reserved more than half of copper output from its Costa Fuego project.

IGO has walked away from talks first reported last month regarding Glencore's CSA copper mine in New South Wales without a commercial agreement.

With its Western Areas acquisition still in progress, IGO has responded to media speculation surrounding a copper mine deal with Glencore.

Perth engineering company Monadelphous has secured a number of new contracts and extensions, including with Woodside and South32.

Hot on the heels of this week's earlier announcement that Glencore has agreed to pump A$14.4m into Hot Chili in return for a 9.99 per cent equity stake, Hot Chili has surprised the market with further news that it plans to raise $40 million to move to full ownership of its massive Cortadera copper-gold deposit. Hot Chili stock soared immediately by almost 20 per cent on the news.