Mining

There’s cause for optimism about the potential to manufacture battery components in Western Australia in the long term, according to BHP Nickel West asset president Eddy Haegel.

Former Sheffield Resources managing director and founding shareholder Bruce McQuitty will step down from the board, making way for John Richards and Ian Macliver, as the company moves closer to development of its Thunderbird mineral sands project.

Rio Tinto has awarded contracts with a combined value of more than $250 million to BGC Contracting and Monadelphous for work on its West Angelas iron ore mine in the Pilbara.

Liontown Resources, Genesis Minerals, Peak Resources, and Marindi Metals have all made capital raising announcements today as they seek to advance exploration projects.

Rio Tinto has reported its biggest first-half profit since 2014 and declared a bumper dividend, as red-hot iron ore prices helped offset the impact of disruptions caused by a cyclone in late March.

A $1 billlion-plus lithium refinery planned for the Pilbara has been put on hold and a second refinery under construction in the South West has been reduced in size as local company Mineral Resources and its US partner restructure their joint venture after a sharp fall in lithium prices.

Northern Star Resources and Saracen Mineral Holdings have budgeted $76 million and $50 million towards exploration for this financial year, respectively, as the gold miners seek to continue to boost their record level of reserves.

Perth-based gold producer Resolute Mining is adding a fourth mine to its portfolio after striking an agreement to acquire privately owned Toro Gold, which owns the high-margin Mako mine in Senegal.

Independence Group has exceeded production guidance at its Nova project, but costs at the operation were also higher than expected and are forecast to increase even further this financial year.

Sheffield Resources has trimmed the capex of its Thunderbird mineral sands project by $101 million to $478 million, in order to significantly reduce its equity funding requirements.

The Western Australia Court of Appeal has dismissed an application seeking to overturn the environmental approval granted in 2017 to Cameco Australia’s Yeelirrie uranium project.

Greenland Minerals has secured $7 million via a share placement, with the funds raised to advance the development of its Kvanefjeld rare earths project.

Altura Mining has recorded solid June quarterly results, but its share price still dropped, amid concerns of a supply and demand imbalance in the lithium sector.

Jupiter Mines chief financial officer Melissa North has resigned as a director following a shareholder vote, prompting chairman Brian Gilbertson to take aim at shareholders and external proxy advisers.

OPINION: Several factors have converged to lift the price of gold in $A terms, but local events may yet play a part in how lucrative those returns are to WA producers.

Northern Star Resources’ June quarter and 2019 financial year results have fallen slightly below guidance, but it has still set new quarterly and annual sales records on progress at its Pogo mine in Alaska.

Rare earth miner Lynas Corporation says it is stockpiling two rare earth metals and limiting sales to its strategic partners because of price volatility amid the US-China trade war and a slowing global economy.

Kingwest Resources has raised $4 million via a share placement, while St George Mining has also completed a share placement, raising $3.3 million.

Central Norseman Gold Corporation (CNGC) has been fined $150,000 in the Kalgoorlie Magistrates Court today over the death of a worker two years ago at the company’s processing plant at its Norseman gold mine.

Zenith Energy has raised $4.8 million via a shortfall placement, having raised just $220,000 in a share purchase plan last month.

Mineral Resources has secured Chinese regulatory approval for its $US1.15 billion Wodgina stake sale, and was the best performer among the ASX 200 today, despite the miner also releasing weak quarterly results.

Resources services provider Babylon Pump & Power has entered into a conditional agreement to acquire diesel engine specialist Primepower Queensland for up to $4.2 million.

The chief executive of iron ore exploration and development company Elmore, formerly IndiOre, has confirmed his brother’s law firm undertook the independent review into the business’s failed project expansion, which was approved and under construction despite no adequate mineralisation being discovered.

Updates from two WA lithium miners today have highlighted the extent of the supply glut in the industry, with Pilbara Minerals confirming it will scale back production and Alita Resources launching a strategic review.

Fortescue Metals Group anticipates slightly higher iron ore shipments in the 2020 fiscal year, but the iron ore miner also flagged higher production costs, which it put down to inflationary and haulage pressures.

Investors have welcomed Valmec’s announcement that it expects to record a 64 per cent rise in net earnings for the 2019 fiscal year.

Newcrest Mining says its gold output rose 4.2 per cent in the fourth quarter as production at its Cadia and Lihir mines ramped up.

Sandfire Resources has announced record fiscal year production, however, its gold output is set to fall this financial year.

A man has been charged after allegedly stealing small pieces of gold from several Western Australian mine sites and selling them for more than $81,000.

Worsley Alumina has locked in gas supply deals with Chevron and Woodside Petroleum today, as Santos chief executive Kevin Gallagher warns of a looming price spike.

Kalium Lakes is on the verge of becoming Australia’s first sulphate of potash producer, after it launched a rights issue and placement that will complete funding for its Beyondie project.

Bellevue Gold is seeking to raise $18.5 million via an institutional share placement to fund ongoing exploration at its namesake project, and announced a director sell-down.