MINING CORPORATIONS – AUSTRALIA

St Barbara in the PNG tent as $206m Simberi decision looms

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 15 : 11-Jan-21

The mine life of St Barbara’s Simberi gold project in Papua New Guinea would be extended by about 11 years if a proposed $206m expansion proceeds. The gold miner’s board is slated to make a decision on the expansion in March, and CEO Craig Jetson is optimistic that the PNG government will approve the expansion. It would require changes to the mining permit for the Simberi project, at a time when the PNG government has been increasingly hostile toward foreign mining companies.

CORPORATES
ST BARBARA LIMITED – ASX SBM

Torrens Mining hits the ground running with buoyant listing

roymorgansocial Leave a comment

Original article by Cameron England
The Australian – Page: Online : 8-Jan-21

Shares in Torrens Mining closed at $0.295 on their first day of trading on the ASX on 7 January, having at one point risen by almost 50 per cent. The company has two gold projects in Victoria, a copper-gold prospect in Papua New Guinea, and the copper-cobalt ‘Elizabeth Creek’ project in South Australia, which is a joint venture with Coda Minerals. The project has a 159,000 tonne copper resource, and is located just 15 kilometres from BHP’s Oak Dam West copper discovery.

CORPORATES
TORRENS MINING LIMITED – ASX TRN, CODA MINERALS LIMITED – ASX COD, BHP GROUP LIMITED – ASX BHP, OZ MINERALS LIMITED – ASX OZL

SolGold boss wants to end brawl with BHP, Newcrest

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 13 & 16 : 6-Jan-21

SolGold MD Nick Mather says he wants to try to mend his strained relationship with BHP and Newcrest, which are SolGold’s two biggest shareholders. Both companies expressed concern during 2020 about his approach to governance and funding of SolGold, and he says he would like to create a more collaborative and constructive relationship with them in 2021. BHP and Newcrest are clearly not the only SolGold shareholders unhappy with Mather, with 44.7 per cent of its register voting against his re-election to the SolGold board at its AGM in mid-December.

CORPORATES
SOLGOLD PLC, BHP GROUP LIMITED – ASX BHP, NEWCREST MINING LIMITED – ASX NCM

Rio, traditional owners healing Juukan Gorge wounds

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: Online : 24-Dec-20

Resources giant Rio Tinto and the Puutu Kunti Kurrama and Pinikura traditional owners have issued a joint statement about future co-operation in the wake of the destruction of ancient indigenous rock shelters in May 2020. The PKKP Aboriginal Corporation acknowledged that Rio Tinto has taken action to address the "hurt and devastation" caused by the blasting at Juukan Gorge, but noted that much more work must be done to ensure that similar incidents do not occur in the future.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Rio head’s trip to heal Juukan Gorge wounds

roymorgansocial Leave a comment

Original article by Peter Ker
The Australian Financial Review – Page: 17 : 2-Dec-20

A Rio Tinto spokesman has confirmed that chairman Simon Thompson has met with members of the Puutu Kunti Kurrama and Pinikura people in Western Australia. Thompson was forced to quarantine for 14 days on arrival from the UK, before visiting the site where ancient indigenous rock shelters at Juukan Gorge were destroyed by Rio Tinto’s blasting program. The federal government is undertaking a parliamentary inquiry into the incident, which resulted in the departure of three senior Rio Tinto executives, including CEO Jean-Sebastien Jacques.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Sandfire bets on new Botswana mine

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 19 : 2-Dec-20

Sandfire Resources will proceed with the development its T3 copper mine in Botswana, with production slated to commence in early 2023. Sandfire will initially produce about 30,000 ounces of a gold a year at T3, which could increase to at least 50,000 tonnes annually via the nearby A4 deposit. The T3 project will offset the looming loss of copper production from Sandfire’s ageing DeGrussa mine in Western Australia, which is nearing the end of its mine life. However, Sandfire plans to begin gold production at DeGrussa.

CORPORATES
SANDFIRE RESOURCES LIMITED – ASX SFR

Lynas refuses to risk staff in virus hot spot

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 28 : 27-Nov-20

The US military is providing funding for a rare earths processing plant to be built in Texas under a partnership between Australian-listed rare earths producer Lynas Corporation and US-based Blue Line. The Pentagon wants the plant to be built to end to China’s dominance of "commercial-scale" separation of heavy rare earths materials. However, Lynas MD Amanda Lacaze has told its AGM that the plant could be delayed as it will not built without the involvement of its engineers, and she will not send anyone to Texas while COVID-19 cases in the state are so high. It is estimated that the plant will cost around $US50 million ($68 million).

CORPORATES
LYNAS CORPORATION LIMITED – ASX LYC, BLUE LINE

Iron ore miners dig in for fight over capacity at Port Hedland

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 18 : 23-Nov-20

Iron ore producers Mineral Resources, BHP, Fortescue Metals Group and Hancock Prospecting have been asked to contribute to an independent review to determine the maximum capacity of Port Hedland. The Western Australian government wants the review to be completed by December, and it comes after the mining companies rejected the government’s call for a $10 billion outer harbour to be constructed at Port Hedland. Growth plans outlined by the four companies amount to output of at least 690 million tonnes per annum, while the government believes that Port Hedland’s maximum capacity could be pushed to around 650 million tonnes.

CORPORATES
MINERAL RESOURCES LIMITED – ASX MIN, BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, HANCOCK PROSPECTING PTY LTD

Forrest unveils ambitious Fortescue renewables plan

roymorgansocial Leave a comment

Original article by Brad Thompson
The Australian Financial Review – Page: 14 & 18 : 12-Nov-20

Fortescue Metals Group has outlined plans to become a major player in the energy sector via a massive investment in renewables. Fortescue chairman Andrew Forrest had told the pure-play iron ore miner’s AGM that it will initially aim to produce 235 gigawatts of energy via renewables, as it transition to an "renewables and resources" company. Meanwhile, CEO Elizabeth Gaines has stressed the importance of Australia’s trading relationship with China.

CORPORATES
FORTESCUE METALS GROUP LIMITED – ASX FMG

BHP joins Baowu to explore green steel

roymorgansocial Leave a comment

Original article by Jared Lynch
The Australian – Page: 16 : 9-Nov-20

BHP will work with Chinese steel producer Baowu to develop low-carbon technologies for the global steel industry. BHP’s memorandum of understanding with Baowu includes provision for an investment of up to $US35m ($48m) in technologies aimed at reducing the industry’s carbon emissions. However, BHP still expects coking coal to remain a key steel-making input for many years. Coking coal accounted for $US1.9bn of BHP’s earnings in 2019-20.

CORPORATES
BHP GROUP LIMITED – ASX BHP, CHINA BAOWU STEEL GROUP CORPORATION LIMITED