Australia/New Caledonia/Papua New Guinea Mining – Page 13

Australia seeks Japan’s help to be critical minerals ‘superpower’ – by Michael Smith (Australian Financial Review – April 21, 2023)

April 21, 2023

https://www.afr.com/

Tokyo | Australian critical mineral producers say Japan offers crucial capital and a growing market for their products at a time when the federal government is promoting investment from “like-minded” countries instead of dominant player China.

A delegation of Australian critical minerals companies visiting Tokyo this week said they were optimistic about Japan’s ability to replicate the huge investments it has made in Australian gas and iron ore over the decades, but they also warned it was pointless trying to compete with China.

Australian junior miner grows its lithium bank in northwestern Ontario – by Staff (Northern Ontario Business – April 19, 2023)

April 20, 2023

https://www.northernontariobusiness.com/

Green Technology Metals boasts two lithium deposits as Sioux Lookout-area project shows growth potential

Green Technology Metals, an Australian exploration upstart, is boosting its storehouse of lithium resources in northwestern Ontario. The company posted a first-time resource estimate for its Root Project, situated northeast of Sioux Lookout, and one of their two leading properties.

The maiden estimate for Root is 4.5 million tonnes at 1.01 per cent lithium oxide, along with 110 parts per million tantalum pentoxide, all in the inferred category. It stems from an almost 15,000-metre drilling program that the company kicked off on the property last August.

NEWS RELEASE: LAND SECURED AT KWINANA FOR AUSTRALIA’S FIRST PROPOSED INTEGRATED BATTERY MATERIAL FACILITY (April 14, 2023)

April 14, 2023

IGO Limited (ASX: IGO) (IGO) and Wyloo Metals Pty Ltd (Wyloo) have today announced that land has been secured at Kwinana for their proposed integrated battery material facility (IBM Facility or the Project).

IGO, in conjunction with Wyloo, is working towards making a financial investment decision on the development of the Project which involves integrating a downstream nickel refinery with a plant producing high-value nickel dominant precursor cathode active material (PCAM) for the battery supply chain.

The proposed Project would combine IGO’s disruptive nickel refining technology with PCAM production expertise via a low-cost and low-carbon process. The Project would represent the first commercial production of PCAM in Australia and would align with the State Government’s drive to grow Western Australia’s future battery industry.

Australia and Germany to partner on critical minerals – by Esmarie Iannucci (MiningWeekly.com – April 11, 2023)

April 11, 2023

https://www.miningweekly.com/

PERTH (miningweekly.com) – Australia and Germany will collaborate on new opportunities for critical mineral projects, with Minister for Resources and Northern Australia Madeleine King signing a joint Declaration of Intent with Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Climate Action Dr Franziska Brantner.

The Declaration will support a joint study to help Australia meet its ambitions to develop value-added industries around critical minerals, from extraction to refinement and recycling, and to help Germany secure reliable supplies of critical minerals to underpin its manufacturing and recycling activities.

Newmont plumps final bid for Australia’s Newcrest to $19.5 bln – by Melanie Burton (Reuters – April 11, 2023)

April 11, 2023

https://www.reuters.com/

MELBOURNE, April 11 (Reuters) – Newmont Corp (NEM.N) laid down a best and final offer for Australia’s Newcrest Mining Ltd (NCM.AX) on Tuesday at A$29.4 billion ($19.5 billion) to close a deal that would extend Newmont’s lead as the world’s biggest gold producer.

If successful, the deal would lift Newmont’s gold output to nearly double its nearest rival Barrick Gold Corp (ABX.TO). The merger is set to be the third-largest deal ever involving an Australian company and the third-largest globally in 2023, according to data from Refinitiv and Reuters calculations.

Newcrest, Harmony Gold ink deal to move Wafi-Golpu project forward – by Cecilia Jamasmie (Mining.com – April 6, 2023)

April 6, 2023

https://www.mining.com/

Newcrest Mining (ASX, TSX: NCM) and Harmony Gold (NYSE: HMY) said Thursday they have signed a framework agreement with the Papua New Guinea (PNG) government that sets key terms to jointly develop the Wafi-Golpu copper and gold project.

The memorandum of understanding (MoU) outlines the main aspects to be included in the mining development contract, a prerequisite for obtaining a special mining lease for the project, equally owned by both miners.

Australia Is Quitting Coal in Record Time Thanks to Tesla – James Fernyhough (Bloomberg News – April 4, 2023)

April 6, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Like so much in our modern era, Australia’s high-stakes gamble on renewable energy starts with an Elon Musk Twitter brag. South Australia’s last coal-fired power plant had closed, leaving the province of 1.8 million heavily reliant on wind farms and power imports from a neighboring region.

When an unprecedented blackout caused much of the country to question the state’s dependence on clean power, Tesla boasted — on Twitter, of course — that it had a solution: It could build the world’s biggest battery, and fast. “@Elonmusk, how serious are you about this,” replied Australian software billionaire and climate activist Mike Cannon-Brookes. “Can you guarantee 100MW in 100 days?”

BHP’s secret nickel clause provides Mincor termination rights – by Peter Ker (Australian Financial Review – April 5, 2023)

April 6, 2023

https://www.afr.com/

Takeover target Mincor has confirmed its nickel supply deal with BHP contains a “change of control” clause that gives BHP the right to terminate the supply contract in certain circumstances and, by extension, trigger a default on Mincor’s debt.

Confirmation the clause exists came on page 55 of the target statement published by Mincor this week in response to a $760 million takeover bid from billionaire Andrew Forrest’s private company Wyloo Metals.

Meet the gold miner intent on proving the Burkina bears wrong – by Peter Ker (Australian Financial Review – April 3,2023)

April 4, 2023

https://www.afr.com/

There is no need for an activist short seller to present the bear case for gold miners working in Burkina Faso. International news outlets such as BBC World provide a regular and thorough list of reasons why nervous investors might want to look elsewhere.

Burkina experienced two military coups last year and is now in a kind of civil war after its current leader, Ibrahim Traore, seized power with a promise to ramp up the fight against militant jihadist groups.

OPINION: Australia’s new mining boom is not our birthright – by Tania Constable (The West Australian – April 3, 2023)

April 4, 2023

https://thewest.com.au/

The emergence of the next mining boom presents an incredible opportunity for Australia. An opportunity to generate immense prosperity and security for our nation that will benefit generations of Australians. An opportunity to not only lead the world through the transition to net zero economies, but secure a long-lasting economic dividend in the process. To see Australia develop into a clean energy superpower.

Because once again we find ourselves in an advantageous position — the world needs what we have in abundance. To achieve net zero, the world will require astronomical volumes of minerals and metals. By 2030 alone, 50 new lithium mines, 60 new nickel mines and 17 new cobalt mines will be needed to meet demand for electricity storage.

Australia sees lithium exports matching thermal coal by 2028 – by James Fernyhough (Bloomberg News – April 2, 2023)

April 3, 2023

https://www.bnnbloomberg.ca/

Australia sees its booming lithium sector matching thermal coal’s importance within five years as the world increasingly shifts from fossil fuels to clean energy.

Exports of the battery metal are seen at A$19 billion ($13 billion) in the year to June 2028, matching the record seen for the current financial year, according to government projections released Monday. Meanwhile, the value of power station coal shipments will drop 71% in the period.

Newmont Gets Newcrest Data Access in Gold Takeover Tussle – by Jacob Lorinc, Yvonne Yue Li and Harry Brumpton (Bloomberg News – March 22, 2023)

March 27, 2023

https://www.bnnbloomberg.ca/

(Bloomberg) — Newmont Corp. has gained partial access to the corporate books of Australian rival Newcrest Mining Ltd., according to people familiar with the matter, a sign that the US company could make a revised offer to seal what would be the world’s largest gold takeover.

Newmont is undertaking limited due diligence on Newcrest weeks after management of the Melbourne-based miner dismissed a $17 billion proposal from the world’s top bullion producer, according to people who asked not to be named because the information isn’t public.

Commodity markets brace for return of China environmental crackdowns – by Alex Gluyas (Australian Financial Review – February 28, 2023)

March 1, 2023March 1, 2023

https://www.afr.com/

Signs that China is re-focusing its attention on environmental regulation have injected fresh volatility into commodity markets, as traders position for the potential return of intermittent crackdowns amid the economy’s reopening.

Ore-processing operations in China’s top lithium production hub, Yichun, were ordered to halt output as investigators probed alleged environmental infringements at lithium mines, Bloomberg reported.

Australia blocks Chinese investor from raising stake in rare earths miner – by Staff (Mining.com – February 28, 2023)

February 28, 2023

https://www.mining.com/

Australian rare earths producer Northern Minerals (ASX: NTU) said on Tuesday that the federal government had prevented its largest shareholder, China’s Yuxiao Fund, from raising its stake in the company on grounds of national interest.

Yuxiao Fund needed the Foreign Investment Review Board’s (FIRB) approval to increase its holding in Northern Minerals to 19.9% from 9.92%. Beijing has condemned Australia for previously blocking Chinese investment on national security grounds, saying those moves have contributed to a years-long diplomatic freeze.

Mount Isa celebrates 100 years of mining history and outback life in north-west Queensland – by Emily Dobson, Zara Margolis and Larissa Waterson (Australian Broadcasting Corporation – February 22, 2023)

February 25, 2023

https://www.abc.net.au/

Mount Isa, one of Queensland’s longest-running mining towns, has this week turned 100. Founded on the land of the Kalkadoon people, it is renowned for mine stacks that rise from red-dirt country at the foothills of the Selwyn Ranges. But as locals celebrate a rich and varied past, many look toward a future where the town’s lifeblood is sustained by more than mining.

A chance discovery

On February 22, 1923, John Campbell Miles and his horses stopped to camp during a journey through the arid Queensland outback to the Northern Territory. Curiosity led the prospector to a particularly large outcrop where he knapped off a piece of rock that, according to his writings, he instantly recognised “contained mineral from its weight”.