Pilgangoora Lithium-Tantalum Project receives environmental approval

Wed, 05/10/2017 - 11:58 Anonymous (not verified)
Pilbara Metals

Australian lithium developer Pilbara Minerals Limited advised today that it has received its environmental approval for its 100%-owned Pilgangoora Lithium-Tantalum Project in Western Australia, marking the last of the major approval milestones for the project and clearing the way for construction to proceed.
The approval of the Company’s Mining Proposal by the Department of Mines and Petroleum (“DMP”), in combination with previously approved Native Vegetation Clearing Permit and Project Management Plan, authorises Pilbara to commence major site works.
Pilbara’s Managing Director and CEO, Ken Brinsden, said the completion of the extensive environmental approvals process by the DMP was a significant milestone for the Company, securing the necessary approvals to enable fullscale construction activities to begin.
“Pilbara has achieved an enormous amount in a very short period of time and, with these final environmental approvals now in place, the Company is firmly on track to becoming the next major lithium raw materials supplier globally,” he said. “With the achievement of each of these important milestones, we have continued to de-risk the Pilgangoora Project. “Now, with project financing just around the corner, our shareholders can look forward to steady news-flow as we complete major construction milestones on site and move into the full-scale development phase – putting us on track to begin commissioning the project from the first quarter of next year.”

Back to Koolan Island

Fri, 04/28/2017 - 12:19 Anonymous (not verified)
Koolan island jobs

Mount Gibson Iron Limited (Mount Gibson) was pleased to announce Board approval to redevelop and restart production from the high grade Main Pit iron ore deposit at its Koolan Island mine in Western Australia, after a feasibility study confirmed compelling economics for the Project.
Extensive technical evaluation carried out over the last two years, including detailed design and multiple peer reviews by independent engineering experts, has confirmed a safe and viable design and construction method to rebuild the Main Pit seawall, which is required to dewater the pit and recommence production from the Main Pit Deposit. Seawall construction, pit dewatering and all other activities associated with restarting production are anticipated to take approximately 24 months to complete with Mount Gibson targeting first ore sales in early 2019.
Mount Gibson Chief Executive Officer Jim Beyer said:
“After two years of extensive work to identify and confirm a safe and effective design and construction method for rebuilding the Main Pit seawall at Koolan Island, it is extremely pleasing to commence construction on what is undoubtedly one of the world’s premier and most compelling high grade iron ore investment opportunities. Coming shortly after extending the life of our Mid West operations, the redevelopment of Koolan Island also re-establishes Mount Gibson’s status as one of Australia’s premier high-grade producers at a time of rapidly growing demand for premium quality iron ore products. Importantly, it also provides a long term platform for further value creation. Our substantial cash reserves and cashflow from existing operations give us the capacity to undertake this investment without any need to take on debt for the project and still pursue other attractive opportunities which may arise in the months and years ahead.” 
 

Foreign Investment Review Board Tick for Yancoal

Thu, 04/13/2017 - 12:17 Anonymous (not verified)
Coal jobs

Today Yancoal Australia Ltd (“Yancoal”) anounced they have received confirmation from the Foreign Investment Review Board (“FIRB”) that the Commonwealth has no objection to Yancoal acquiring 100 percent of Coal & Allied Industries Limited (“Coal & Allied”) (“Transaction”), which owns an interest in the Hunter Valley Operations (“HVO”) mine and the Mount Thorley Warkworth (“MTW”) mines (together with associated assets), subject to compliance with existing governance conditions, which already apply to Yancoal’s current assets and standard tax conditions now applied to all FIRB approvals. Satisfaction of the FIRB condition precedent represents a critical milestone.
“Today’s FIRB approval is a positive step forward for Yancoal, its shareholders and the Hunter Valley, demonstrating the Australian Government’s support for continued investment into the local resources sector,” said Reinhold Schmidt, Chief Executive Officer. “Yancoal remains a key provider of employment, training and investment within New South Wales and we look forward to continuing to grow our operations.”
The Transaction remains subject to a number of further closing conditions, including Rio Tinto plc and Rio Tinto Limited shareholder approval and Yanzhou Coal Mining Company shareholder approval. The Transaction is expected to complete in the 3rd quarter of 2017

Cosmos Moving Forward

Mon, 04/03/2017 - 15:33 Anonymous (not verified)
cosmos mining jobs

The acquisition of Cosmos from Glencore in 2015 is now paying dividends for Western Areas. Western Areas announced the results from the Cosmos Odysseus Pre‐feasibility Study, which demonstrates commercial viability of the Odysseus Project and the potential re‐start of nickel mining operations at Cosmos. With the successful completion of the PFS, the Western Areas Board has approved the Project to progress to the Definitive Feasibility Study stage.
The PFS base case findings indicate robust economic and nickel production metrics together with further significant upside opportunities, as well as a very low all‐in sustaining cash cost of operations.   The decision by the Board to commence a DFS underpins Western Areas’ strategy to develop a second operating region and thereby consolidate its position as a leading Australian nickel producer.  
Western Areas Managing Director Dan Lougher said that the PFS results demonstrate the healthy operational and financial characteristics of the Project.  
“The positive results from the PFS, combined with the recent drilling success achieved within 18 months of acquisition, demonstrate Western Areas’ ability to accelerate and deliver value from the Cosmos acquisition,” Mr Lougher said.
“Odysseus represents Western Areas’ next mining operation and the results presented today show that a significant nickel operation can be established for substantially less capital outlay than a stand‐alone greenfields development.”
“We are particularly pleased to have an operation that will have very low all‐in sustaining unit cost at US$2.77/lb, but also a project that does not require a significant capital investment over the next two years, which provides optionality and flexibility in development decisions.    Depending on market conditions, the Company also has the opportunity to complete early works where practicable and economic to do so.”
“We believe there are significant opportunities to drive further improvements in returns on this investment, including the potential for significant high grade resources below the existing deposit, as detailed in our announcement on 13 February 2017 of massive sulphide intersections of 5.3m at 15.2% nickel, including 3.4m at 22.0% nickel.    The assay from this intersection is the highest grade over a reasonable width ever recorded at Cosmos from 446,000 prior assays under different ownership.”
“Odysseus is a core growth asset for Western Areas with exciting upside potential and progressing this to DFS stage will ensure that Western Areas is ready to leverage an upswing in nickel prices.  Being a conventional underground nickel sulphide project, it is a great fit with our core skills and experience in hard rock underground mining and conventional nickel flotation at Forrestania,” Mr Lougher said.

Iron Ore Price back to $90

Fri, 03/17/2017 - 10:04 Anonymous (not verified)
ironore jobs

What is happening to the iron ore price?
Fundamentals suggest, US$90 a tonne is a really good number and the iron ore producers have all suggested the $90 will not be supported for too long.
Supply continues to increase, particularly from Brazil and low cost sources and combined with higher production, and higher stocks at the ports, fundamentals all point down.
On the other hand, China's demand for higher grade iron ore continues to support these "high" prices.

New Nickel Discovery

Tue, 02/14/2017 - 10:22 Anonymous (not verified)
Western Areas Jobs

Western Areas Ltd, was pleased to announce yesterday that the Company has intersected a new massive sulphide zone, including two super high grade results, immediately below the Odysseus North orebody at the Cosmos Nickel Complex (Cosmos).
The new intersections are 160m south of a high grade Inferred Mineral Resource of 0.05Mt @ 11.6% which forms part of the Odysseus North orebody. These intersections, when combined with results from geophysical surveys, represent a potentially significant extension to the high grade Resources at the broader Odysseus Project.
Key highlights include:

WAD002A intersected massive sulphide comprising 2.6m at 12.6% nickel, including 1.6m at 18.0% nickel;
WAD002W1W1W1 intersected massive sulphide comprising 5.3m at 15.2% nickel, including 3.4m at 22.0% nickel;
Down-hole electromagnetic (DHEM) surveys successfully completed in WAD002 identified two strong responses at downhole depths of 1,240m and 1,290m respectively. The 1,240m response is confirmed by drilling as mineralised massive sulphide; and
Potential to significantly extend existing high grade Resources at Odysseus North

Western Areas Managing Director, Dan Lougher, noted that the underexplored potential of the Cosmos Nickel Complex was one of the key drivers of the acquisition.
“On acquiring Cosmos, we had the clear view that the true potential of the project, both for more nickel near existing known orebodies and for new discoveries in a wider regional setting, had not been adequately tested,” Mr Lougher said.
“We’ve begun testing this view which has resulted in both strong potential for adding more high grade Resources near Odysseus North and some very promising exploration hits at Neptune, as reported recently. Additionally, we expect to convert more quantified Mineral Resources at Odysseus North to a higher confidence category and enhance our understanding of this significant deposit.
“Cosmos is starting to deliver on the opportunities we believe exist at the project, and we look forward to continuing this progress throughout the year,” Mr Lougher said.

Iron Hill Approved

Thu, 02/09/2017 - 14:56 Anonymous (not verified)
Mt Gibson Jobs

Mount Gibson Iron Limited (Mount Gibson) advised today that it has commenced development of its Iron Hill iron ore mine in Western Australia’s Mid-West region following receipt of final statutory approvals.
Iron Hill is located 3km south of the Company’s recently depleted Extension Hill open pit and this close proximity enables the utilisation of Extension Hill’s substantial existing workshops, processing facilities, camp and transport infrastructure, as well as the Extension Hill workforce comprising approximately 160 employees and contractors.
As a result, negligible capital is required to be spent, and first product sales are targeted to commence in May 2017.
Mount Gibson Chief Executive Officer Jim Beyer said: “We are very pleased to gain the final approvals required for Iron Hill, which are the successful culmination of a huge effort by our permitting team since the initial application was made over two years ago. Obtaining these approvals in a large part reflects our proven record of, and ongoing commitment to, responsible resources development in the state’s Mid-West and Kimberley regions.  We now look forward to rapidly developing this attractive high value, low-capital production opportunity, thereby extending the life of our Mid-West business. It is also very pleasing to be able to deliver additional value for our shareholders while continuing to provide much needed economic activity in the Mid-West region by way of direct employment and the engagement of local business.”

WA unemployment at record high

Thu, 12/15/2016 - 15:48 Anonymous (not verified)
Western Australia

The jobless rate in Western Australia increased from 6.5 per cent to 6.9 per cent last month, which is the highest level since 2002. The state Opposition leader blamed Premier Colin Barnett for the rise.
"6.9 per cent is catastrophic. The Government has its head in the sand," Mr McGowan said.“Mr Barnett thinks everything’s okay. It is clearly not okay. That’s why we need a change, we need a fresh start, we need a plan for jobs. They failed to diversify the economy, they failed to ensure there was significant financial capacity left from the boom times, for the lean times that followed.”
But the Western Australia's Chamber of Commerce and Industry (CCI) used the jobless figures to again call for changes to payroll tax.
“This unemployment rate is unacceptable,” CCI chief executive Deidre Wilmott said.“It’s the highest that it’s been since 2002 and it calls for urgent policy announcements by our political parties going into an election.The CCI wants the current $850,000 payroll tax threshold immediately indexed to the Consumer Price Index , and then increased by $50,000 each year to eventually reach $1.5 million." CCI fundamentally wants to put an end to payroll tax.

Tarcoola gold mine open

Wed, 12/14/2016 - 14:53 Anonymous (not verified)
contract labour

WPG Resources Ltd advised that the Tarcoola gold mine was officially opened yesterday at the South Australian minesite, located approximately 3km from Tarcoola.
On the 11th November WPG announced that a Decision to Mine had been taken and the project’s immediate development was progressed following the approval of the project’s Program for Environment Protection and Rehabilitation. Within 2 weeks of the Decision to Mine, work commenced on developing the Tarcoola pit.
The first ore from Tarcoola is anticipated to arrive at Challenger in the coming weeks.

NOVA's first nickel concentrate shipment

Mon, 12/12/2016 - 10:21 Anonymous (not verified)
Mining Recruitment

Independence Group NL advised that the first nickel concentrate has been transported from the Nova Project to BHP Nickel West Pty Ltd in Kambalda. Peter Bradford, Managing Director and CEO of IGO said:
“The first shipment of concentrate is another important milestone for the Nova Project and this took place earlier than contemplated by the Feasibility Study and in line with the guidance we provided to the market in our ASX release of 26 October 2016.”
Two three-year off take agreements are in place for the nickel concentrate from Nova, each for 50% of production; the first with BHP Nickel West for delivery to Kambalda, and the second with Glencore, to be shipped offshore via the port of Esperance. All copper concentrate will be shipped offshore via the port of Esperance under a three-year off take agreement with Trafigura with the first shipments expected in the June 2017 quarter.
The next major milestones for the Nova Project will include; Complete drilling and resource estimation at Conductor Five, expected in the March 2017 quarter; First offshore shipments of nickel and copper concentrates, expected in the June 2017 quarter; and Ramp up to full production rate, expected by mid CY17.