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Australasia News
Sun Silver gleams on ASX debut with Nevada project
By: Creamer Media Reporter 15th May 2024 Nevada-focused Sun Silver on Wednesday listed on the ASX, following an oversubscribed A$13-million initial public offering (IPO). The company’s stock more than doubled on its first day trading on the bourse, closing at A$0.43 a share. “The very high level of investor demand saw us close the IPO... →
Lotus bolsters its management team
By: Tasneem Bulbulia 15th May 2024 ASX-listed Lotus Resources has appointed four experienced resource executives to provide the company with additional experience in project development, operations, technical and corporate development, including project financing. Michael da Costa will join Lotus as COO at the end of May. →
State mining training authority backing green hydrogen skills centre creation 
By: Martin Creamer 15th May 2024 “We’re very excited to announce that we’ll be establishing the first centre of specialisation of green hydrogen skills,” South Africa’s Chemical Industries Education and Training Authority (CHIETA) CEO, Yershen Pillay, made public this week. CHIETA is working on this with South Africa’s mining... →
BHP shareholders see room for one more sweetened Anglo bid
By: Bloomberg 15th May 2024 Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected... →
Indigenous group to take fight against Arizona copper mine to Supreme Court
By: Reuters 15th May 2024 A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer. The group said they would... →
Patriot and Albemarle’s downstream lithium collaboration ends
By: Mariaan Webb 15th May 2024 Lithium exploration company Patriot Battery Metals will no longer pursue a downstream lithium processing partnership with shareholder Albemarle, it was announced on Wednesday. Patriot, which owns the Corvette property in Canada, said that a nine-month term of a memorandum of understanding (MoU)... →
Gold Fields to earn into Killi’s West Tanami project
By: Creamer Media Reporter 15th May 2024 Exploration junior Killi Resources has announced an option and joint venture (JV) agreement with global miner Gold Fields, which has agreed to spend up to A$13-million for an 85% interest in the West Tanami project, in Western Australia. Killi CEO Kathryn Cutler said that the partnership with... →
Santos to sack 200 employees as project approvals slow
By: Reuters 15th May 2024 Santos, Australia's No. 2 independent gas producer, on Wednesday said it will remove around 200 roles in Western Australia, Northern Territory, and Timor-Leste unit due to sluggish project approvals and delayed growth activities. Santos conducted a review of certain business units over the... →
MRC in talks to take full control of WA graphite project
By: Mariaan Webb 15th May 2024 Graphite-focused Mineral Commodities (MRC) is in negotiations with its joint venture (JV) partner in the Munglinup project, on Western Australia’s Fitzgerald coast, to settle a dispute regarding its right to increase its interest in the project. The company currently holds a 51% interest... →
Atlantic appoints versed Ghanaian lawyer, corporate banker to its board
By: Marleny Arnoldi 15th May 2024 Aim-, ASX- and Ghana Stock Exchange-listed Atlantic Lithium has appointed Edward Koranteng as nonexecutive director to the board effective immediately. As a lawyer and experienced corporate investment banker with experience in Ghana, he can support the company’s objectives of delivering the... →
Elementos restarts Spanish tin DFS with modified layout
By: Mariaan Webb 15th May 2024 The definitive feasibility study (DFS) and licensing activities for the Oropesa tin project will resume, following an agreement between Elementos and the Andalusian government on project layout modifications to address community and environmental concerns. The negotiations with government have... →
Lucapa puts Lesotho diamond mine up for sale
By: Mariaan Webb 15th May 2024 Australia-listed Lucapa Diamonds on Wednesday announced the planned divestment of its 70% interest in the Mothae mine, in Lesotho. This follows a review of the asset portfolio by the company’s newly structured board of directors. →
Aurora charts development pathway for US uranium project
By: Mariaan Webb 15th May 2024 ASX-listed Aurora Energy Metals has delivered a scoping study that demonstrates a viable pathway to developing its namesake uranium project in the US state of Oregon. Using a spot price base case of $90/lb, the Aurora project demonstrates strong cash flows of A$502-million, a net present value... →
BHP’s top Australian investor eyes restraint in battle for Anglo
By: Bloomberg 15th May 2024 Pension giant AustralianSuper, BHP Group’s largest Australian shareholder, said capital discipline was of “utmost importance” for the mining industry as investors weigh the heavyweight’s twice-rebuffed efforts to woo smaller rival Anglo American. Luke Smith, the senior portfolio manager who... →
Anglo-BHP battle is between two CEOs fighting over same vision
By: Bloomberg 15th May 2024 As Anglo American sets out a survival plan that echoes the vision of its suitor BHP Group, the rival mining bosses are now locked in a battle to convince shareholders they are the man for the job. Anglo CEO Duncan Wanblad and his BHP counterpart Mike Henry took center stage on Tuesday, as the... →
All-round value unlock targeted in proposed demerging of Anglo Platinum and De Beers
By: Martin Creamer 14th May 2024 Diversified mining major Anglo American is targeting value elevation in its planned demerging of South Africa-based Anglo American Platinum (Amplats) and the envisaged divestment or demerger of Southern Africa-dominant De Beers. In rejecting BHP’s second takeover offer, Anglo intends reshaping... →
Kinetiko thrilled with successful onshore gas-to-power demonstration in South Africa
By: Creamer Media Reporter 14th May 2024 ASX-listed Kinetiko Energy has successfully demonstrated that it can produce gas-to-power (GtP) from an onshore natural gas resource at its Amersfoort project, in Mpumalanga, South Africa. The company is focused on developing an energy transition solution for South Africa focused on... →
Australia to invest A$22.7bn in renewable energy, critical minerals
By: Reuters 14th May 2024 The Australian government on Tuesday announced a A$22.7-billion package to boost domestic manufacturing and renewable energy as the country seeks to reduce its reliance on foreign suppliers for key technologies. Details of the Future Made in Australia package announced in the government's annual... →
Future Metals secures EIS grant for Eileen Bore drilling
By: Creamer Media Reporter 14th May 2024 Exploration company Future Metals has been awarded A$180 000 under the Western Australian government’s exploration incentive scheme (EIS) to conduct drilling at the Eileen Bore prospect. Situated about 20 km from Future’s Panton project, in the East Kimberley region, Eileen Bore is an advanced... →
Graphite miner Lincoln joins EU trade mission
By: Creamer Media Reporter 14th May 2024 Graphite miner Lincoln Minerals CEO Jonathon Trewartha will participate in an Australia government-led trade mission to the European Union (EU) in early June. During the trade mission, Lincoln will showcase its Kookaburra graphite project, in South Australia, which Trewartha says can play a... →
Tin prices may see further support from supply risks, rate cuts, analysts say
By: Reuters 14th May 2024 Tin prices, which have rallied in recent months to near two-year highs, could be bolstered further by supply disruptions, ongoing geopolitical conflicts, fund inflows in the event of interest rate cuts and stabilising demand, analysts say. Benchmark three-month tin on the London Metal Exchange... →
Copper climbs to highest in two years as bulls see deficit
By: Bloomberg 14th May 2024 Copper touched its highest level since 2022 after a powerful rally fueled by forecasts of a growing global supply deficit. The commodity’s gain since the start of January is approaching 20% with prices defying typical indicators of soft demand, especially in China. That’s partly because... →
Investors expect BHP to lift Anglo American offer again
By: Reuters 14th May 2024 BHP is likely to sweeten its $43-billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid. Anglo said the improved all-share offer, up 10% from BHP's initial... →
Buxton acquires Arizona manganese exploration project
By: Creamer Media Reporter 14th May 2024 Australia-listed Buxton Resources on Tuesday announced an agreement to acquire a manganese brownfields exploration project in Arizona, US. The Matrix manganese project, in Mohave county, is adjacent to the Artillery Peak project, which has a resource of 277-million tonnes at 2.8% manganese. →
Glencore Coal launches Australia apprenticeship progamme
By: Creamer Media Reporter 14th May 2024 Glencore Australia has announced the opening of its 2025 apprenticeship programme for applications, inviting aspiring candidates to apply for an opportunity or skills development and hands-on experience in the coal industry in New South Wales and Queensland. Scheduled to kick off in January, the... →
Analysts highlight concerns over valuation, regulatory hurdles in BHP-Anglo proposal
By: Mariaan Webb 14th May 2024 The rejection – for the second time – of BHP’s attempt to propose a deal with Anglo American underscores the concerns that continue to persist regarding value and regulatory hurdles in the proposed transaction. Responding to the latest developments in the BHP-Anglo takeover, CreditSight analysts... →
Queensland Premier says nuclear will cost jobs
By: Creamer Media Reporter 14th May 2024 Queensland Premier Steven Miles has strongly opposed the Liberal Party’s proposition to introduce nuclear reactors in the northern regions of the state, asserting that such a move is “recipe for a cost-of-living meltdown”. “Nuclear is the most expensive option,” Miles said in a joint statement... →
Lithium miner debuts as Ghana’s first listing in two years
By: Bloomberg 14th May 2024 Australian-based Atlantic Lithium, which is developing Ghana’s first lithium mine, has taken a step toward raising capital from equity investors in the country. The company has listed all its shares in issue on the Australian Securities Exchange and London Stock Exchange’s AIM board, on the... →
Green energy presenting South Africa with massive reindustrialisation chance – Nedbank
By: Martin Creamer 13th May 2024 Green electrons and green molecules are presenting South Africa with a massive opportunity to reindustrialise, Nedbank CIB head of infrastructure, energy and telecommunications Mike Peo told the Green Hydrogen Roundtable on Monday. “We have an opportunity for South Africa to completely... →
Anglo rejects BHP's revised £34bn proposal
By: Mariaan Webb 13th May 2024 Diversified major Anglo American has rejected a revised proposal put forward by BHP, which valued the UK-headquartered miner at about £34-billion. The structure of the revised proposal, unveiled on Monday, remained unchanged from the previously rejected proposal of last month. It comprises an... →
Hastings CEO departs amid cost-cutting restructuring
By: Creamer Media Reporter 13th May 2024 Paul Brown will leave rare earths developer Hastings Technology Metals at the end of the month as the company restructured its business to reduce costs. The restructuring has resulted in a “material reduction” in the workforce numbers, ASX-listed Hastings said on Friday. →
VR8 mulls most favourable terms after signing third offtake MoU
By: Marleny Arnoldi 13th May 2024 Australia-headquartered Vanadium Resources (VR8) has signed a memorandum of understanding with China-based Hunan Zhongxin New Materials Technology for the offtake of 4 000 t/y of vanadium oxide, over a period of five years. The nonbinding MoU states that Hunan can extend the offtake agreement... →
Power moves to establish an early niobium foothold in West Arunta
By: Creamer Media Reporter 13th May 2024 The share price of ASX-listed Power Minerals surged early 30% on Monday, following its announcement of a strategic move into the West Arunta region of Western Australia with the addition of the Waterlander project. Situated immediately adjacent to WA1 Resources’ Luni discovery, Waterlander is... →
Horizon Minerals inks toll milling agreement
By: Mariaan Webb 13th May 2024 ASX-listed Horizon Minerals on Monday announced a toll milling agreement with FMR Investments to treat 200 000 t of ore from the Cannon underground deposit. FMR owns the Greenfields mill, which is about 67 km by road from the Cannon project in Western Australia. →
Element25 expedites Butcherbird expansion activities amid manganese price rebound
By: Creamer Media Reporter 13th May 2024 ASX-listed developer Element 25 is speeding up efforts to expand its Butcherbird project, in Western Australia, seizing the opportunity presented by a resurgence in manganese ore prices. Following a feasibility study published in January, Element 25 is poised to boost production at Butcherbird... →
De Jager to lead Surefire as next CEO
By: Creamer Media Reporter 13th May 2024 Perth-based explorer Surefire Resources has appointed Jan de Jager as CEO. De Jager has more than 25 years’ experience across operational, finance, commercial, strategy and business development roles and has held senior leadership roles in AVZ Minerals, Covalent Lithium, Roy Hill and Xstrata... →
Rio Tinto says a driverless iron-ore train derailed in Western Australia
By: Reuters 13th May 2024 Rio Tinto said on Monday an autonomous train had derailed at its Western Australian iron-ore operations overnight and that it was investigating the incident in which no one was hurt. The incident occurred when an autonomous train collided with a set of stationary wagons loaded with iron-ore... →
Glencore seeks Australian carbon capture approval amid farmer protests
By: Reuters 13th May 2024 Australia's Queensland state will decide this month whether to give Glencore a key approval to bury liquefied carbon dioxide in the country's largest aquifer, a plan farm groups say must be blocked because it risks poisoning water supplies. Carbon capture and storage (CCS) is needed to achieve... →
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