Esmarie Iannucci

https://staging1.creamermedia.com/

Esmarie Iannucci

Esmarie Iannucci is Creamer Media Senior Deputy Editor: Australasia for Mining Weekly.

Another major resignation at Fortescue

31st August 2023 Iron-ore major Fortescue’s CFO has quit, just days after CEO Fiona Hick resigned. The company on Thursday reported the departure of CFO Christine Morris, and announced the appointment of group manager finance and tax, Apple Paget as acting CFO. →

Dartbrook restart another step closer

31st August 2023 ASX-listed Australian Pacific Coal (AQC) will raise A$12-million through an institutional placement and accelerated non-renounceable entitlement offer to provide working capital for the Dartbrook mine, ahead of a restart in the fourth quarter of this year. The institutional placement raised... →

Byerwen future on the line as Glenden plan causes concern

31st August 2023 The future of unlisted QCoal’s Byerwen coal mine, in Queensland, has been called into question after most of the 400 workforce have informed the company that they would quit, rather than move to the regional town of Glenden. The Queensland government last week passed legislation to secure the... →

AuTECO spends A$65m on Canadian mine

31st August 2023 ASX-listed AuTECO Minerals has struck a A$65-million deal to acquire the Green Bay copper/gold project in Newfoundland, Canada. AuTECO submitted a bid under the sale and investment solicitation process for Canadian company Rambler Group, which was ordered by the Supreme Court of Newfoundland and... →

The Nugget Pond processing facility forms part of the transaction.

Peninsula makes a new plan for Lance

31st August 2023 Uranium developer Peninsula Energy has unveiled a new life-of-mine (LoM) plan for the Ross and Kendrick production areas at its Lance uranium project, in Wyoming, which could see production restart in late 2024. Peninsula earlier this year flagged a ‘significant delay’ in the restart of... →

ERA braces for more cost increases

31st August 2023 The 2022 feasibility study into the rehabilitation of the Ranger uranium project, in the Northern Territory, has confirmed a A$368-million cost increase for the closure, bringing the total cost of completing the rehabilitation project to A$2.18-billion. The new cost estimate falls within the... →

Record year at Perseus

31st August 2023 Dual listed gold miner Perseus Mining has posted record financial results for the year ended June, as both gold production and gold prices increased. Perseus on Thursday reported a 27% increase in revenue for the full year, compared with the 2022 financial year, increasing from A$1.1-billion to... →

Lithium drives IGO to record heights

31st August 2023 Critical minerals miner IGO has posted a record financial performance for the year ended June, driven by record earnings from its lithium joint venture (JV). IGO’s revenues in the full year increased by 13% to A$1.02-billion, with net profits after tax up 66% to A$549-million and underlying... →

Sandfire profits fall in 2023

31st August 2023 Copper miner Sandfire Resources has reported a fall in revenue and profits for the full year ended June. Sales revenue for the full year declined from $922.7-million in the 2022 financial year to $803.9-million on the back of a 14% decline in copper sales associated with the wind-down of... →

More gas needed to avoid AEMO predicted shortfall - Appea

31st August 2023 The Australian Petroleum Production and Exploration Association (Appea) said on Thursday there was an urgent need for more gas supply after the Australian Energy Market Operator (AEMO) said there was an ‘urgent and ongoing’ need for investment to retain energy reliability in Australia. In its... →

WA gas policy could curtail investment - MinRes

30th August 2023 ASX-listed Mineral Resources (MinRes) this week said that Western Australia’s domestic gas policy could hamper the development of its onshore gas assets. During the company’s full-year results announcement, MinRes MD Chris Ellison noted that the company’s Energy division had drilled two onshore... →

Ardea raises A$16m for nickel aspirations

30th August 2023 Nickel developer Ardea Resources has received firm commitments to raise A$16-million in a share placement to professional and sophisticated investors. Ardea on Wednesday said it would place some 22.7-million shares at a price of 70c each under the company’s existing placement capacity, with the... →

Oakover concentrate study proves up

30th August 2023 An updated dense media separation (DMS) manganese concentrate scoping study at the Oakover project, in Western Australia, has estimated that the project would require a capital investment of A$123-million. ASX-listed Firebird Metals on Wednesday reported that the four-million tonne a year... →

Triton gets mining concession in Moz

30th August 2023 ASX-listed Triton Minerals has been granted a 25-year mining concession for its Cobra Plains graphite project, in Mozambique. Triton had previously held an exploration license over the Cobra Plains project and had sought an extension or modification to this license. The company said on... →

Northern Minerals raises A$25m

30th August 2023 Rare earths developer Northern Minerals has announced a A$25-million capital raise to advance its Browns Range project towards a final investment decision in the first half of 2024. The company on Wednesday said it had successfully placed more than 833.3-million shares, at a price of 3c each, to... →

29Metals announces major capital raise

30th August 2023 ASX-listed 29Metals has launched a A$151-million entitlement offer to fully fund the Capricorn Copper recovery plan and near-term capital projects at Golden Grove. The equity raise will be undertaken through a 1-for-2.2 accelerated non-renounceable entitlement offer priced at 69c a share.... →

BHP cuts the ribbon at new training center

30th August 2023 Diversified miner BHP has cut the ribbon at its FutureFit Academy in Western Australia, as part of its commitment to create 2 500 new traineeships and apprenticeships nationally over five years and build the skills needed for modern mining. Launched in 2020, the BHP FutureFit Academy offers... →

Aus releases greenhouse gas storage acreage

30th August 2023 The Australian Petroleum Production and Exploration Association (Appea) has welcomed the release of new areas for exploration for offshore greenhouse gas storage to help Australia lower emissions and meet net-zero commitments, saying it would further grow the momentum to deploy carbon capture,... →

Woodside gets Trion approval

30th August 2023 The Mexican regulator, Comision Nacional de Hidrocarburos, has approved oil and gas major Woodside Energy’s field development plan for its Trion project. Woodside in June approved the $7.2-billion Trion development, subject to joint venture and regulatory approval. Both of these conditions have... →

Lynch walks away from Sayona

29th August 2023 The share price of lithium miner Sayona Mining fell on Tuesday following the announcement of CEO and MD Brett Lynch’s resignation, before recovering slightly. Lynch will depart the company with immediate effect, with current non-executive director James Brown being appointed as interim CEO. →

Record production narrows Red 5 losses

29th August 2023 Record gold production has seed ASX-listed Red 5 narrow its losses in the 12 months to June. Gold production in the full year to June increased from 66 871 oz to 165 544 oz, with gold sales increasing from 64 315 oz to 164 974 oz. Sales revenue for the full year increased from A$164.9-million... →

West African closes strong first half

29th August 2023 Gold miner West African Resources has reported a solid first half of 2023, despite a 12% fall in gold sales. The miner on Tuesday reported revenues of A$309.6-million for the six months to June, down 4% from the previous corresponding period, as gold ounces sold declined from 123 561 oz to 198... →

Andromeda updates Great White economics

29th August 2023 An updated definitive feasibility study (DFS) into the Great White kaolin project, in South Australia, has increased the expected revenue and net present value estimates, while decreasing capital cost expectations. ASX-listed Andromeda Metals this week reported that based on the 300 000 t/y... →

Black Cat raises exploration funds

29th August 2023 Junior Black Cat Syndicate will raise A$8.3-million in a share placement to fund exploration work at its Western Australian gold assets. The company on Tuesday said it had received firm commitments for the placement of some 36.88-million shares from institutional and sophisticated investors,... →

Apollo strikes a deal on Serbian copper

29th August 2023 ASX-listed Apollo Minerals has struck a conditional agreement to acquire Edelweiss Mineral Exploration, which holds the Belgrade copper project in Serbia. The project consists of four licenses covering some 202 km2, and formed part of the Serbian copper exploration project portfolio held by... →

Alliance members vote for industrial action at Chevron

29th August 2023 US energy major Chevron is facing industrial action with Offshore Alliance members at the company’s Western Australian gas facilities issuing a notice of intention to take protected industrial action. Offshore Alliance members at Gorgon, Wheatstone Downstream and Wheatstone Platform have each... →

A$3bn boost to WA's electricity grid

29th August 2023 The federal and Western Australian governments have inked a landmark agreement to bolster the state’s energy security. The Commonwealth-Western Australia Rewiring the Nation deal would expand and modernise the electricity grids in Perth, the South West, and the North West Pilbara region. →

Lynas unveil cost increases at Kalgoorlie

29th August 2023 Rare earth miner Lynas has announced a cost-blow out at its Kalgoorlie rare earths processing facility, while falling revenue and inflation pressures have eaten into profits for the year ending June. Lynas CEO and MD Amanda Lacaze said on Tuesday that an updated project budget for the Kalgoorlie... →

Bowen adjusts strategy as costs rise and prices fall

28th August 2023 Coal miner Bowen Coking Coal will adjust the mine plan a its Burton Complex in order to preserve capital amid tightened market and pricing conditions. The miner said on Monday that while the initial focus at the Burton Complex had been on the Broadmeadow East pit, the Ellensfield South Pit... →

Gold Road posts solid results

28th August 2023 Gold miner Gold Road Resources has closed a strong first half to June, with gold sales and revenue up. Gold sales during the six months under review reached 80 115 oz, up from the 79 606 oz in the previous corresponding period, with production benefitting from record throughput rates at the... →

bp plans investment decision at H2Kwinana in 2024

28th August 2023 Energy major bp will take an investment decision on the H2Kwinana project, in Western Australia, in 2024, and is aiming to start production by 2026. The company last week completed its concept development study, which identified two potential base case scenarios, with the hub producing either... →

Ramelius posts solid year

28th August 2023 Gold miner Ramelius Resources has reported a 396% increase to its statutory net profits after tax for the full year ended June. The gold miner reported statutory net profits after tax of A$61.6-million, up from the a$12.4-million reported in the 2022 financial year, due in part to lower non-cash... →

Base swings to a loss

28th August 2023 Despite a robust performance from its Kwale operations, in Kenya, mineral sands miner Base Resources has finished its 2023 financial year with a loss of $4.8-million. The ASX- and Aim-listed company on Monday reported a non-cash impairment of $88.9-million following the reassessment of the... →

Strike won't increase the offer for Talon

28th August 2023 ASX-listed Strike Energy on Monday said it would not increase its bid for fellow-listed Talon Energy, in the absence of a superior offer. Under the current scheme, Talon shareholders will receive 0.4828 new Strike shares for each Talon share held. In parallel with the scheme, Talon would look to... →

First Quantum joins Rio in copper JV

28th August 2023 Diversified miner Rio Tinto has formed a joint venture (JV) with fellow major First Quantum over the development of the La Granja copper project, in Peru. Following the completion of conditions including regulatory approvals from the government of Peru, First Quantum has acquired a 55% stake in... →

CEO exit casts shadow on Fortescue results

28th August 2023 Iron-ore major Fortescue has reported record shipments during the 2023 financial year, while also announcing the departure of CEO Fiona Hick only six months after her appointment. Hick’s February appointment had followed the resignation of Elizabeth Gaines. →

Photo by Bloomberg
Fiona Hick

Zenith strikes deal with QMines

28th August 2023 Junior Zenith Minerals has struck a deal with fellow-listed QMines to divest of its Develin Creek copper/zinc project, in Queensland, for up to A$4.5-million in cash and shares. "We are pleased to advise of the divestment of the Develin Creek copper/zinc project to QMines. The divestment... →

Qld invests more into IPP

25th August 2023 The Queensland government this week pledged a further A$53.5-million to the Industry Partnership Program (IPP) to support new industries. Deputy Premier Steven Miles said the funding would focus on key priority areas, including critical minerals processing, manufacturing and product... →

QPM completes Moranbah buy

25th August 2023 ASX-listed Queensland Pacific Metals (QPM) has completed the acquisition of the Moranbah gas project, transforming the company into the sixth largest domestic gas producer on the Australian exchange. The transaction also transformed the company into a revenue generating entity with a pathway to... →

BCI gets credit approval for Mardie finance

25th August 2023 Potash developer BCI Minerals has received credit approvals for A$650-million of project finance for its Mardie salt project, in Western Australia. The company on Friday said that the Northern Australia Infrastructure Facility (NAIF) has approved a A$490-million project finance facility for... →

Ramelius extends Musgrave offer

25th August 2023 Gold miner Ramelius Resources has extended its takeover offer for fellow-listed Musgrave Minerals until September 15, and has reiterated that it will not be improving on its offer, in the absence of a competing bid. The gold miner is offering one of its own shares for every 4.21 Musgrave shares... →

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