News

Takeover time moved a step closer this week as the “almost everything boom” stretched out to new heights with Fitch Ratings warning that the mining sector is likely to shift from a buyer’s to a seller’s market over the next 12-to-18 months.

Takeover time moved a step closer this week as the “almost everything boom” stretched out to new heights with Fitch Ratings warning that the mining sector is likely to shift from a buyer’s to a seller’s market over the next 12-to-18 months. The alert from Fitch, a leading credit rating agency, recognises the challenge of trying to buy high-priced individual assets and the need for bidders to make a full takeover for the parent company.

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30th April 2021

Chalice Mining’s share price continues to rally to new highs as analysts speculate over the size of its Julimar discovery outside Perth (reports MiningNews).

Chalice Mining’s share price continues to rally to new highs as analysts speculate over the size of its Julimar discovery outside Perth (reports MiningNews). Chalice said last week that it was delaying its hotly anticipated maiden resource from mid-year until the end of the third quarter because the deposit just keeps getting bigger. The company reported 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide.

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New Mid West iron ore producer Fenix Resources successfully completed four shipments in the first quarter, having dispatched its maiden cargo in mid-February (reports MiningNews).

New Mid West iron ore producer Fenix Resources successfully completed four shipments in the first quarter, having dispatched its maiden cargo in mid-February (reports MiningNews). After a few vessel-related teething issues, and one unfortunately-timed COVID lockdown, Fenix managed to sell 200,000 tonnes of iron ore at an average sales price of US$156/t in the March quarter.

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Aspiring mineral sands miner Strandline Resources has struck an LNG supply deal with the Woodside-EDL joint venture for its Coburn project near Shark Bay (reports The West Australian).

Aspiring mineral sands miner Strandline Resources has struck an LNG supply deal with the Woodside-EDL joint venture for its Coburn project near Shark Bay (reports The West Australian). The joint venture will supply trucked LNG to the project from Woodside’s Pluto operation as part of a 10-year supply agreement with Strandline. The Luke Graham-led company said the deal meant the overall cost of power at Coburn would be lower than forecast in its definitive feasibility study for the project.

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Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews).

Chalice Mining’s Julimar nickel-copper-platinum group element project outside Perth continues to get bigger (reports MiningNews). The company received 165 high-grade intersections from the seven-rig drill-out of the Gonneville Intrusion, which is now about 1.8km long by 900m wide. The drilling expanded the G4-G11 zones to the north-east and the G1-G2 zones down-dip. G4 is now 1250m long with up to 600m of dip extent, while G11 is 1200m long with up to 300m of dip extent. Both are open to the north and down-dip.

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Things could hardly be better for BHP and its shareholders (reports The Australian Financial Review).

Things could hardly be better for BHP and its shareholders (reports The Australian Financial Review). With just 2½-months to go in the financial year, the mining giant’s March quarter production numbers released on Wednesday suggest it is on the cusp of beating its own iron ore export target for shipments in the full year of 286 million tonnes.

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The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz

The “almost everything boom” roared on this week, led by palladium, which hit an all-time high of $US2899 an ounce, iron ore, which cracked a 10-year price ceiling at $US186 a tonne, and gold, which took a peek at $US1800/oz -- and might be there by the time you read this. Soft commodities and financial markets are also booming. Wheat is trading at a seven-year high. Timber in the U.S. is at an all-time high, as are share prices on the New York Stock Exchange.

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16th April 2021

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews).

Despite a softening in the gold price this year, BMO Capital Markets managing director of commodities research Colin Hamilton says the metal is holding up well (reports MiningNews). After peaking at over US$2000 an ounce in August 2020, gold has fallen as low as $1683/oz last month. It currently sits at about $1747/oz.

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