Scott Morrison pledges $30 million to build QLD mining school

Australian Prime Minister Scott Morrison has declared his support for the mining industry, pledging $30 million for a new school for miners in Central Queensland. The Central Queensland School of Mines and Manufacturing, for the Gladstone and Rockhampton regions, will focus on the topics of science, engineering and mathematics that are required for the industry. The Prime Minister said the new school was part of the government’s plan for a stronger economy, assisting central Queensland citizens train locally and support more local jobs. The construction phase of the school is…

First blast sets Boston Shaker in motion at Tropicana

Tropicana gold mine joint venture partners AngloGold Ashanti and Independence Group have ignited the first blast at the Boston Shaker underground development in Western Australia. The blast marked a timely start of Boston Shaker’s development, which is scheduled to pour first gold in the September quarter next year. A video of the blast was broadcast on Twitter. It shows an operational handover to the shotfirers to finalise preparations and the pushing of the button for the blast. Boston Shaker will contribute an average of 100,000 ounces of gold every year,…

Terminating Barminco as East Kundana’s mining contractor — a despotic call from Northern Star’s Bill Beament?

Back in March 2016, Barminco, a leading hard-rock underground mining contractor, secured a three-year A$275 million contract at the Kundana gold mines from the East Kundana Joint Venture in the Eastern Goldfields, WA. It was the company’s largest contract. As far as expectations and responsibilities are concerned, Barminco provided the whole shebang of underground Australian mining operations which include development, production, bogging, maintenance, haulage, and operation of underground services. The company also offered to employ all existing EKJV staff and was very pleased to secure a major contract in support…

TerraCom targets expansion opportunities with restructuring

Coal miner TerraCom Resources has rolled out a $63 million restructuring plan that will support its growth ambitions. TerraCom is launching a fully underwritten offer that will firstly fetch around $35 million. The company has furthered its restructuring effort by agreeing to a $US20 million ($28 million) convertible bond with shareholder and investment manager OCP Asia. Both efforts will see TerraCom’s interest costs eventually reduced by around $16 million every year. TerraCom’s existing shareholders (and sub-underwrites) Bonython Coal No 1, Noble Resources International and Mistlake have backed the entitlement offer.…

Glencore’s CSA Mines deal with Aurelia falls through

Aurelia Metals has responded to speculation surrounding potential interest in Glencore’s CSA Mines in New South Wales, confirming it is no longer in discussions to acquire the copper mine. The company released a statement today saying it would instead be focusing on the leadership transition involving managing director and chief executive officer Jim Simpson stepping down from the role. Aurelia had previously expressed interest in CSA Mines, claiming that it could have been a strategic fit. As a result, preliminary discussions with the owner of CSA Mines were held regarding…

Kirkland Lake Gold lifts guidance on record quarter

Kirkland Lake Gold has raised its annual guidance for the second quarter in a row following strong results that included record production at the Fosterville mine in Victoria. The company’s lower end of guidance has now been raised by 30,000 ounces for a new guidance range of 950,000 to one million ounces. This upward revision follows a previous guidance increase to between 920,000 and one million ounces ounces in February. Fosterville, around 20 kilometres from Bendigo, was the main driver for the company’s strong production, accounting for 128,445 ounces of…

A crushing victory

Thyssenkrupp is engaging its engineering prowess to make minerals processing more water, energy and space efficient. Australian Mining looks at how the company achieves this. Comminution is an essential stage of minerals processing. Whether wet grinding or dry grinding is involved, upstream or downstream, mines need to be able to break down materials to a manageable level. German industrial company Thyssenkrupp manufactures a series of grinding products for the mining and minerals processing industries, including the autogenous mill (AG) / semi-autogenous mill (SAG), Polycom high-pressure grinding roll (HPGR), ball mill…

Rio Tinto ‘determined’ to aid climate change solution

Rio Tinto’s products “have a major role to play in transition to a low-carbon economy”, according to a speech by chairman Simon Thompson. Thompson, who made the comments at Rio Tinto’s annual general meeting (AGM) in Perth, said the company’s highly publicised sale of its coal assets last year — which included two Queensland mines to Glencore for over $2 billion — did not affect the company’s growth. “In 2018, we actually grew production by just under three per cent, on a copper-equivalent basis,” Thompson explained. “Rio Tinto is now…

Western Australian resources industry drives return to surplus

Western Australia’s resources sector has delivered strong results that provided the basis for the state’s first return to budget surplus in five years. The industry is expected to contribute $7.23 billion in 2019-20, making it the state’s third biggest revenue stream behind taxation and commonwealth grants. The results were largely driven by an increase in resource exports, namely liquified natural gas, lithium and gold. This combined with increased business investment in iron ore and lithium projects, leading to a predicted 3.5 per cent increase in economic growth for 2019-20. As…