Aurumin Limited (ASX: AUN) has initiated a significant drilling campaign at its Central Sandstone Project in Western Australia. This project, which is wholly owned by Aurumin, represents a crucial step forward in the exploration and development of its Sandstone Operations. The Central Sandstone Project is located 520 kilometres northeast of Perth and boasts an impressive 881,000 ounces of gold (Au), contributing to the company's total resource of 946,000 ounces of gold across its Sandstone Operations, which also include the Birrigrin and Johnson Range projects. The ambitious drilling program aims to test up to nine new open pit targets, with plans to…
Gold Road Resources Limited (ASX: GOR), a gold production and exploration company, has issued a production update in response to significant rainfall affecting operations at the Gruyere gold mine — located in Western Australia's north-eastern Goldfields. The Gruyere gold mine is a joint venture (JV) between Gold Road Resources and Gold Fields (JSE: GFI), with each holding a 50 per cent interest. Gold Fields manages and operates the mine, while Gold Road Resources maintains a significant investment portfolio. Following substantial and prolonged rainfall in early March, the region experienced further significant and atypical rainfall in the second half of the…
Litchfield Minerals Limited (ASX: LMS), a critical mineral explorer, has discovered new copper-tungsten targets at its Wolfram Hill Prospect within the Mount Doreen Exploration Licence (EL 31305) in the Northern Territory. This discovery, resulting from comprehensive Induced Polarisation (IP) surveys conducted in March 2024, marks a major milestone in the exploration of this site. The recent IP survey has identified two large and highly promising chargeability targets located to the north and south of the existing mineralised zones. These findings suggest the potential for substantial extensions of the known mineralised reef at depth and along the strike to both the…
Intra Energy Corporation Limited (ASX: IEC) has announced the discovery of significant lithium anomalies at its Maggie Hays Hill (MHH) project in Western Australia's Lake Johnston Greenstone Belt. This discovery places the company at the forefront of lithium exploration, with the potential to impact the global lithium supply chain. A recent soil sampling program revealed two major lithium anomalies, with the primary anomaly stretching over 2,500 metres in length and 300 metres in width. The secondary anomaly measures 1,300 metres by 300 metres. These anomalies are notable for their high lithium values, reaching up to 248ppm Li2O, and are associated with tantalum and caesium, elements indicative of highly prospective…
Ora Gold Limited (ASX: OAU) has announced promising initial assay results from its 2024 RC drilling program at the Crown Prince Prospect within the Garden Gully Gold Project in Western Australia. The results, particularly from the Southeastern Zone (SEZ), highlight significant high-grade gold mineralisation, marking a significant step forward in the exploration of this key growth area. The drilling campaign, initiated in early February 2024, has yielded encouraging results, including an exceptional intercept from drill hole OGGRC662 — 15 metres at 9.91g/t Au from 88 metres, with a higher-grade section of two metres at 54.17g/t Au from 100 metres. Other…
St George Mining Limited (ASX:SGQ) has announced significant developments in its exploration efforts at the Myuna Rocks Project in Western Australia's Ravensthorpe region. The project, owned by Lithium Star Pty Ltd (a joint venture between St George Mining and Amperex Technology Limited), has seen its tenure double in scale, now spanning 546 square kilometres. The newly granted Exploration Licences E74/789 and E74/790 have expanded the project's area, with the land package extending over 50 kilometres north-west along a regional greenstone corridor, starting just five kilometres north of the Mt Cattlin Lithium Mine. This corridor hosts active explorers such as Fortescue,…
The Australian government has recently announced a significant investment of up to $840 million in the Arafura rare earths project and a $230 million loan for Liontown Resources. These investments are part of the government's efforts to boost critical minerals projects and strengthen Australia's position in ethical and sustainable manufacturing of rare earths. The investment in the Arafura rare earths project aims to support the development of the Nolans Project, a rare earth mine located north of Alice Springs. The funding package includes $495 million from the Critical Minerals Facility, $200 million from the Northern Australia Infrastructure Facility (NAIF), $115…
The proposed expansion of the Pueblo Viejo gold mine will extend its life as well as its significant contribution to the Dominican Republic’s economy until 2040 and beyond. The project would require an initial investment of $1.3 billion to expand the process plant and the tailings facility. Extending its life would unlock the mine’s potential to increase exports by $22 billion and generate more than $4 billion in taxes at a gold price of $1,500 per ounce. Between 2013 and 2016, Pueblo Viejo paid $1.8 billion in direct taxes and last year its exports accounted for more than 38 per…
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…
