Mining to push NSW towards surplus with no royalty increase

New South Wales mining royalties are at record levels and forecast to keep the state budget in surplus over the forward estimates to 2022-23, despite the sector having no major impact on the 2019-20 state budget. Mining royalties in NSW are estimated to deliver almost $8 billion, or an annual average of $1.97 billion, to the state over the next four years. In the same period, NSW budget surpluses are expected to average $1.7 billion. Mining communities across NSW will also reportedly welcome the Treasurer’s move in keeping his pre-election…

Newmont edges closer to second Tanami expansion with Valmec

Newmont Goldcorp has awarded a $6 million construction contract to Valmec for the second expansion project it has proposed at the Tanami gold mine in the Northern Territory. The contract is the second Newmont has presented for the next Tanami expansion this year, following an engineering, procurement and construction management (EPCM) services contract award to WorleyParsons in February. Valmec expects to start work on the contract immediately, with the majority of the infrastructure to be developed by November this year. Newmont was reported to have advanced its studies for Tanami’s…

Syrah unveils $111.6m capital raising for Balama

Syrah Resources has revealed plans for its latest capital raising to advance the Balama graphite project in Mozambique. The company has entered into a convertible note deed and an underwritten entitlement offer to raise approximately $111.6 million for the project. It will use the funds to ramp-up operations at the site, with the operation nearing production volumes that are expected to generate positive operating cash flows. Syrah stated that production at Balama was reaching a point where the trade-off between unit cash operation cost benefits was almost balanced with the…

Brazilian dam disaster a ‘turning point’ for environmental awareness

The world’s top five mining companies are becoming more sensitive to environmental and social risks, according to a report from S&P Global. The data provider analysed information from Anglo American, BHP, Glencore, Rio Tinto and Vale. It found that environmental and social risks were becoming increasingly important for the companies’ credit quality, citing the January 2019 failure of Brazilian company Vale’s Brumadinho dam in Brazil as a turning point. The Brumadinho disaster, which occurred when a tailings dam failed at Córrego de Feijão iron ore mine in Minas Gerais, killed…

Strike recommits to iron ore projects following price hikes

Surging iron ore prices have driven Strike Resources’ decision to restart work on a number of its iron ore projects in Australia and Peru. The company holds three iron ore assets, the Apurimac and Cusco iron ore projects in Peru and the Paulsens East iron ore project in Western Australia, alongside its lithium and graphite prospects. Strike plans to build off the foundation of work conducted between 2006-2008 on its Paulsens East project, which focused on the potential for an operation of up to a one million tonnes per annum.…

Coal to virtually disappear from 2050 electric power system

Coal is forecast to almost completely disappear from Australia’s electricity system by 2050 if governments do not attempt to keep plants online with subsidies, according to the latest economic analysis in the BloombergNEF (BNEF) New Energy Outlook 2019. Coal-fired capacity is predicted to fall from 25 gigawatts in 2018 (generating 63 per cent of the country’s electricity), to 18 gigawatts in 2030, and just six gigawatts in 2040. Power stations will instead be powered by lower-cost renewables, paired with flexible technologies like batteries, pumped-hydro and gas. These technologies will ensure…

Oil and gas CEOs remain confident despite external threats

Oil and gas executives are optimistic about company growth within the sector despite threats of cyber security and climate change. The sentiment forms part of KPMG International’s 2019 Global CEO Outlook, which revealed that 91 per cent of business leaders in the oil and gas industry are confident about their organisation’s growth prospects. A further 86 per cent also recorded confidence in the future growth of the industry. The survey found that over half of CEOs in the sector projected high revenue growth of up to two per cent over…

BHP unlocks Olympic Dam potential with heap leach trial

BHP has completed a heap leach development trial it says confirms the technology’s viability to extract copper, uranium, gold and silver at the Olympic Dam mine in South Australia. The company produced 19 tonnes of ‘good quality’ copper during the trial, most of which went back into the smelter and off to customers, though the company “kept a little to ourselves to commemorate the achievement.” “The promising results from this trial supports our positive outlook for Olympic Dam, given forecast demand increases for copper and the optionality we are building…

CSIRO non-toxic gold recovery technology goes live

The Commonwealth Scientific and Industrial Research Organisation (CSIRO) is taking its Going for Gold gold recovery technology out of the trial phase and into the real-world market. Cyanide leaching is the most popular gold leaching reagent in many countries, but CSIRO’s method — which took 20 years of research and around $10 million in investment — proposes a non-toxic alternative. The research body’s Going for Gold initiative is based around the notion of designing alternative extraction reagents that “don’t cost the Earth”. “Cyanide is used in about 75 per cent…

Boral Quarry invests in intelligent motor control solution

Boral is a leading provider of construction materials and building products in Australia. Products include cement, aggregates, concrete, asphalt, bricks, roofing, masonry products and timber. With an extensive network of concrete, asphalt and manufacturing sites across Australia, Boral’s leading position is underpinned by around one billion tonnes of quarry reserves strategically located close to key markets. Boral’s Charlton quarry is located in Victoria, almost half way between Melbourne and Mildura. It is one of the few hard rock quarries in the region with the capability to produce notable volumes. The…