GOLD MINES AND MINING – NEW SOUTH WALES

Gold miner says $1b project unviable after Plibersek intervention

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Original article by Peter Ker
The Australian Financial Review – Page: 15 : 20-Aug-24

Regis Resources has indicated that it will consider all legal options after federal Environment Minister Tanya Plibersek effectively blocked its McPhillamy gold and silver project in NSW. Plibersek contended that her decision to place heritage protections over the headwaters of the Belubula River will only impact the proposed site of the mine’s tailings dam, and will not prevent the project from proceeding. However, Regis argues that there are no viable alternative sites for the tailings dam; the company adds that the approvals process would have to be restarted if it seeks a new site for the dam, which could delay the project by 5-10 years.

CORPORATES
REGIS RESOURCES LIMITED – ASX RRL, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER

Drought may force mines to shut down

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Original article by Nick Evans
The Australian Financial Review – Page: 17 & 20 : 11-Nov-19

Aeris Resources has warned that lack of sufficient water supply may force the closure of its Tritton copper mine in New South Wales. Aeris has advised that the mine may not have enough water to keep operating beyond February, and it will seek state government approval to access the Nyngan to Cobar pipeline. Aurelia Metals has also indicated that the drought in NSW may result in the loss of its Peak gold and base metals mine’s entire water allocation in early 2020. The mining sector is a major employer in the state’s Cobar region.

CORPORATES
AERIS RESOURCES LIMITED – ASX AIS, AURELIA METALS LIMITED – ASX AMI, GLENCORE PLC, NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN, WHITEHAVEN COAL LIMITED – ASX WHC, COBAR SHIRE COUNCIL, AUSTRALIA. BUREAU OF METEOROLOGY

Water’s worth its weight in gold as big producers run dry in the drought

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Original article by Nick Evans
The Australian – Page: 17 & 24 : 16-Oct-19

The Cowal gold mine in western New South Wales accounted for nearly 40 per cent of Evolution Mining’s total production for the September quarter. However, COO Bob Fulker has warned that production at Cowal may be hit by the end of 2019-20 if the drought in NSW persists and Evolution’s efforts to reduce the mine’s water consumption do not pay off. CEO Jake Klein notes that Evolution now recycles about 50 per cent of the water used at Cowal. The drought may also affect output at Newcrest Mining’s Cadia mine.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, NEWCREST MINING LIMITED – ASX NCM, GLENCORE PLC, AUSTRALIA. BUREAU OF METEOROLOGY

Newcrest gives up gold to replace tailings dam

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Original article by Paul Garvey
The Australian – Page: 20 : 24-Apr-18

Newcrest Mining was forced to halt operations at its Cadia mine in New South Wales after a wall in its northern tailings dam was partly breached in March. It has since resumed production, but at reduced levels, due to the limitations of its southern tailings dam. Newcrest has now been given conditional permission to dump tailings in part of its old Cadia Hill open pit mine while it looks at how best to fix the northern tailings dam. However, its decision means forgoing potential resources of up to 270,000 tonnes of unmined copper and up to three million ounces of unmined gold.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, RBC CAPITAL MARKETS

Newcrest in dark on Cadia restart

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Original article by Matt Chambers
The Australian – Page: 21 : 16-Mar-18

Analysts have scaled back their 2017-18 production forecasts for Newcrest Mining’s Cadia gold mine after the company advised that it is uncertain when production will resume. Peter O’Connor of Shaw Stockbroking expects output for the fiscal year to be about 570,000 ounces following the collapse of a tailings dam wall. Full-year output at the mine had been slated to be within the range of 680,00 to 780,000 ounces. Newcrest CEO Sandeep Biswas says the cause of the incident remains unknown, and it does not appear to be linked to recent seismic activity.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, SHAW STOCKBROKING LIMITED, BHP BILLITON LIMITED – ASX BHP, RBC CAPITAL MARKETS, SAMARCO MINERACAO SA

$750m wiped off Newcrest as quake rocks goldminer’s forecasts

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Original article by Paul Garvey
The Australian – Page: 28 : 13-Mar-18

Shares in Newcrest Mining closed 4.6 per cent lower at $A20.60 on 12 March, after the company advised that its 2017-18 earnings will be hit by another earthquake at its Cadia gold mine. Newcrest had previously forecast that gold output for the full year would be within the range of 2.4 million and 2.7 million ounces. Production at the New South Wales mine has been put on hold after part of the tailings dam wall collapsed. A previous earthquake disrupted production in April 2017.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, RBC CAPITAL MARKETS

Newcrest looks to solar power for Cadia mine

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Original article by Tess Ingram
The Australian Financial Review – Page: 15 : 9-Oct-17

Soaring power prices have prompted Newcrest Mining to consider installing a solar farm at its Cadia mine in New South Wales. CEO Sandeep Biswas says it has been to both California and Israel to see what technology is available at the moment. He says that given Cadia is expected to be operational for some years, installing a solar farm is a viable option. He notes that there are currently solar farms capable of generating 600 megawatts, whereas Cadia would only require one that produces 150 megawatts.

CORPORATES
NEWCREST MINING LIMITED – ASX NCM, EVOLUTION MINING LIMITED – ASX EVN

Driverless trucks head deep underground

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Original article by Barry FitzGerald
The Australian – Page: 19 & 22 : 3-Dec-15

The entire fleet of eight load-haul dump trucks at the Northparkes copper and gold mine in New South Wales have been fully automated. Northparkes is the world’s first underground mine to completely phase out drivers for such vehicles. Northparkes Stefanie Loader says the shift to full automation has had benefits in terms of both efficiency and safety at the mine. At present, Northparkes produces about 50,000 tonnes of copper and 46,000 ounces of gold each year, and Loader believes that the mine can remain in operation until at least 2050.

CORPORATES
CHINA MOLYBDENUM COMPANY LIMITED, SUMITOMO CORPORATION, SANDVIK AB

Evolution buys coveted Cowal gold mine

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Original article by Peter Ker
The Australian Financial Review – Page: 20 : 26-May-15

Barrick Gold Corporation will sell its Cowal gold mine in New South Wales to Evolution Mining. The deal will increase Evolution’s annual gold output to more than 800,000 ounces, making it Australia’s second-largest listed gold miner. Jo Battershill of UBS says the Cowal’s mines $US550m ($A704m) sale price is near his estimate of fair value. Evolution will partially finance the deal via a $A248m capital raising.

CORPORATES
EVOLUTION MINING LIMITED – ASX EVN, BARRICK GOLD CORPORATION, UBS HOLDINGS PTY LTD, NEWCREST MINING LIMITED – ASX NCM, LA MANCHA RESOURCES INCORPORATED, NORTHERN STAR RESOURCES LIMITED – ASX NST