M&A drops as federal election looms

Mergers and acquisitions (M&A) have slowed in Australia’s first quarter due to a number of market uncertainties, according to data acquired by Pitcher Partners and Mergermarket. It was revealed that deal totals were 12 per cent lower by volume and 11 per cent by value compared with the first quarter of 2018. Australia’s impending federal election this weekend has coincided with the fallout from the Royal Commission’s investigation into banking misconduct, leading to a decrease in deal making. The report also sighted global friction stemming from the US-China trade war…

Resolute Mining gains ground at Ravenswood gold mine

Resolute Mining has been granted approval for nine mining leases that will help catapult the Ravenswood gold project in Queensland into expansion. Ravenswood’s proposed expansion is expected to extend the gold mine’s life by at least 14 years. The Queensland Government approval builds on its support for Ravenswood after the site’s project status was last year extended to November 2020. It allows Resolute navigate government approvals and cut red tape, according to the Queensland Resources Council (QRC). The mining leases include areas within the operational footprint of the proposed Buck…

OZ Minerals drives Minotaur towards Jericho copper start

OZ Minerals has agreed to ‘loan carry’ Minotaur Exploration’s Jericho copper project through to the start of commercial production in exchange for an increased stake in a joint venture. The company’s increased share applies to the newer of two JVs between the companies, the Jericho JV, which came about as part of a restructure of the agreement between the two companies. OZ Minerals’ stake in the Queensland-based Jericho JV has risen from 70 per cent to 80 per cent as a result of the loan carry agreement. Minotaur has partnered…

Kumtor Gold implements the next generation fleet management system

Working at 4400 metres and -40º Celsius high in the remote Kyrgyz Tien Shien mountains on China’s north west border, Kumtor gold mine presents a unique set of challenges for systems and people. Kumtor’s freshly implemented fleet management system (FMS) from the innovative Mine Sense for Miners (MS4M) has met these challenges, delivering outstanding results. MS4M is currently the second largest FMS supplier in Peru, which shares a similar mountainous mining environment in many areas. The productivity benefits of fleet management are well proven throughout the industry. Kumtor’s previous FMS…

Austmine 2019 set to explore mining’s ‘next horizon’

The human element of mining technology is set to be a major focus of next week’s Austmine conference in Brisbane. The exhibition, where global industry thought leaders will gather to discuss the next horizon for mining, is scheduled for May 21-23 at the Brisbane Convention and Exhibition Centre. It will include presentations from miners, METS, academia and government, placing a special focus on the future role of human input into the mining value chain and how companies are enabling workers to create a culture of ideas. The topics of augmented…

Palmer protests QLD Government denial of Townsville port access

Clive Palmer plans to pursue legal action against the Queensland Government for allegedly refusing to provide Queensland Nickel Resources with access to the Port of Townsville. The Townsville Port Authority has ignored continuous correspondence to restore Queensland Nickel’s access to Berth 2, relied upon by “large-scale ongoing exports”, according to Palmer. Queensland Nickel produces a range of nickel and cobalt products, such as nickel compacts and oxide sinter. The company’s chairman considered the move as punishment to the “struggling economy in North Queensland.” “The Labor Government is using politics to…

QLD Government gives green light to Pembroke’s Olive Downs coal project

The Queensland Government has approved Pembroke Resources’ $1 billion Olive Downs metallurgical coal project in the Bowen Basin. Subject to Commonwealth Government approval, Pembroke will start construction of the project in 2020, with strict conditions to ensure local employment and minimisation of environmental impacts. The project is expected to create 1000 operational jobs and 500 jobs during construction, contributing an estimated $8 billion to the local economy. Olive Downs is forecast to produce up to 15 million tonnes of metallurgical coal a year once it is operational. Queensland Resources Council…

Aus Tin cleared to launch mining at Taronga next month

Aus Tin Mining has received regulatory approval to start mining at the Taronga tin project in New South Wales. Taronga, the world’s fifth largest undeveloped tin reserve, is forecast to treat 2.5 million tonnes of ore a year, producing an annual average of 2800 tonnes of contained tin over a nine-year mine life. The stage one operation is now fully permitted. It is expected to start before the end of June, beginning with site establishment and initial mining. Aus Tin is also progressing discussions with potential offtake buyers and exploring…

TNG pushes Mt Peake forward with titanium pigment offtake

TNG has taken an important step forward in ensuring the validity of the Mount Peake vanadium-titanium-iron project thanks to a new binding offtake agreement. Swiss market expansion specialists DiethelmKellerSiberHegner (DKSH) will purchase 100 per cent of TNG’s titanium dioxide product from the Northern Territory mine — equivalent of up to 150,000 tonnes a year — for global distribution. The agreement represents a high-profile partnership for TNG and promising news for Mount Peake, which is still undergoing final approvals. TNG’s initial product offering to DKSH will comprise of a titanium dioxide-based…