News

Plus, which WA gold miner spurned St Barbara?

The trickledown effect of the surge in iron ore prices in response to Vale’s January 25 tailings dam disaster is starting to take effect. Project proposals consigned to history when iron ore prices tanked some years back are being dusted off in the hope that the $US100/t prices are here to stay for the foreseeable future.

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Rare earth stocks woke with a jolt this week

Rare earth stocks woke with a jolt this week, for the same reason iron ore stocks have been on fire. Both sectors are winners from the increasingly dangerous trade war which has pitted the US against China. The iron ore rally is well understood. It’s an event driven by a supply squeeze courtesy of problems in Brazil and demand-pull courtesy of China stimulating its economy to offset declining exports to the US.

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Diamonds from Lucapa Diamond Company’s 70%-owned Mothae mine have sold for A$5 million (reports MiningNews).

Diamonds from Lucapa Diamond Company’s 70%-owned Mothae mine have sold for A$5 million (reports MiningNews). The mine, in Lesotho, is a partnership with the government. The second tender, comprising a parcel of 7008 carats, sold in Antwerp for US$3.5 million. The tender included prices of up to $26,000 per carat paid. Lucapa managing director Stephen Wetherall said the latest tender results continued to underline Mothae's status as one of a select few global mines capable of producing high-value diamonds on a consistent basis.

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Plus, investors’ eyes turn to PolarX as the new field season beckons

The Kambalda nickel camp is stirring again some 53 years after WMC (acquired by BHP in 2005) drilled the KD1 discovery hole, with Mincor boss David Southam positioning the company to be in the thick of things. The Vietnam War and prolonged nickel mine strikes in Canada underpinned the nickel price spurt which led to WMC’s breakthrough discovery at Kambalda, 60km south of Kalgoorlie.

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Lucapa Diamond Co, which shot to prominence after unearthing a series of massive diamonds in Angola, has recovered its biggest diamond to date from its new mine in Lesotho (reports The Australian). Lucapa went into a trading halt yesterday pending the announcement of what it said was a “significant diamond recovery”. It is understood the company has found a 100 carat-plus diamond from its Mothae mine in Lesotho, where it started production earlier this year.

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And the word from on high is good news for leveraged battery juniors like Mincor and Liontown; Plus, Bellevue dangles the resource-upgrade carrot and analysts line up to tip big things for Strandline

FOMO among major miners BHP and Rio Tinto was on full display in Barcelona this week at the Bank of America Merrill Lynch mining conference. And it had nothing to do with whether they would be invited by the fun people to the various knees-ups up at the tapas bars up down La Rambla. Nope, it was all about the major miners declaring they were part of the electric vehicle and renewable energy storage revolution.

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The dead hand of Australian politics took a firm grip of the stock market

The dead hand of Australian politics took a firm grip of the stock market in the days before Saturday’s election despite abundant evidence that a number of sectors appear poised to move up sharply, led by gold, oil, iron ore and nickel. Gold and oil are the stand out opportunities as the Middle East heads towards a US v Iran showdown, potentially with severe implications for oil and LNG shipping movements along the world’s energy highway, the Persian Gulf.

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Investors have been re-enthused by Pure Alumina’s effective claim all is going well with its planned A$27 million Polar Sapphire acquisition in Canada

Investors have been re-enthused by Pure Alumina’s effective claim all is going well with its planned A$27 million Polar Sapphire acquisition in Canada, with the Tolga Kumova-backed microcap enjoying a couple of strong headline trading sessions (reports MiningNews). Pure Alumina shares more than doubled after it reported the Polar pilot plant in Toronto had been operating well for the past two weeks producing high purity alumina from use of proprietary technology.

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