News

The Australian-dollar price is now higher than in its heyday of 2011, delivering big wins for investors in highly-leveraged juniors such as Fenix and Strike. And Liontown’s lithium seen as potential prey for the bigger mining houses.

Rio Tinto back through $110, BHP back through $41 and Fortescue into record territory of more than $20. Anyone would think Christmas has arrived early for the big iron ore producers. And it has, courtesy of  the spike in the iron ore price to a spectacular $US136.30/t (CRF North China) on the latest production woes for Brazil’s Vale at a time of seemingly insatiable demand from China. Vale is supposed to be pumping out 400Mtpa, but the oversight fallout from two tailings dam disasters and the ravages of COVID-19 have put paid to that.

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Is the boom back? Maybe, is the only correct answer to that provocative question after a remarkable week on global markets triggered by confidence in the success of Covid-19 vaccinations.

Is the boom back? Maybe, is the only correct answer to that provocative question after a remarkable week on global markets triggered by confidence in the success of Covid-19 vaccinations. On one side of the returning-boom debate was the evidence of commodity markets where iron ore and copper hit seven-year price highs and gold shrugged off last week’s price correction to move back above the $US1800 an ounce mark.

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Sandfire Resources has its eye on an even bigger prize after pulling the trigger on a new mine in Botswana in the twilight years of its flagship DeGrussa operations in Western Australia (reports The Australian Financial Review).

Sandfire Resources has its eye on an even bigger prize after pulling the trigger on a new mine in Botswana in the twilight years of its flagship DeGrussa operations in Western Australia (reports The Australian Financial Review). The Karl Simich-led Sandfire said it would produce 30,000 tonnes of copper a year from the $US259 million ($352 million) T3 mine in Botswana from early in calendar 2023.

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The market finally looks to be buying in to the idea that Sandfire’s A$167 million acquisition of Botswana-focussed MOD Resources last year was as much about exploration upside as it was about MOD’s advanced T3 Motheo copper-silver development project

The market finally looks to be buying in to the idea that Sandfire’s A$167 million acquisition of Botswana-focussed MOD Resources last year was as much about exploration upside as it was about MOD’s advanced T3 Motheo copper-silver development project (writes Barry FitzGerald on MiningNews). That came through in Tuesday's market when Sandfire gave the go-ahead for a $371 million development of T3 on the emerging Kalahari copper belt.

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Pilbara Minerals has tightened its grip on the assets of failed lithium miner and Pilbara neighbour Altura Mining (reports The West Australian).

Pilbara Minerals has tightened its grip on the assets of failed lithium miner and Pilbara neighbour Altura Mining (reports The West Australian). The Ken Brinsden-led miner said today it entered a share sale agreement with receivers of Altura, which would give it control of the company’s Pilgangoora lithium project in exchange for $US175 million.

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RED 5 managing director Mark Williams emphasises advantages of winding the clock back at King of the Hills (reports MiningNews).

RED 5 managing director Mark Williams emphasises advantages of winding the clock back at King of the Hills (reports MiningNews). But there is no doubt he is counting down the days to the June 2022 ‘relaunch’ of the mine. “It will be here before we know it,” he said on a site visit ahead of the company locking down A$165 million of project finance and $800 million of new contracts that will make Leonora an even bigger Western Australia gold sector talking point over the next few years.

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Australia’s newest iron ore producer is about to start making a mountain of cash from a relatively small hole in the ground (reports The Australian Financial Review).

Australia’s newest iron ore producer is about to start making a mountain of cash from a relatively small hole in the ground (reports The Australian Financial Review). Fenix Resources has a market capitalisation of $58.98 million but the company is set to generate much more than that in cash profit in its first year of production and has caught the attention of a Chinese state-owned Sinosteel and Gina Rinehart's Hancock Prospecting.

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New World’s continued drilling successes at its Antler copper project in Arizona has drawn investors to commit to a $10m share placement (reports Stockhead).

New World’s continued drilling successes at its Antler copper project in Arizona has drawn investors to commit to a $10m share placement (reports Stockhead). Institutional, sophisticated and professional investors will take up 200 million new shares priced at 5c each under the placement, which is lead managed by Canaccord Genuity. Notably, the price represents a 0.5 per cent premium to the 30-day volume weighted average price of New World Resources’ (ASX:NWC) shares.

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