News

Outgoing Northern Star Resources executive chairman Bill Beament says he plans to build the company he’d always envisioned when he starts at Venturex Resources on July 1 (reports MiningNews).

Outgoing Northern Star Resources executive chairman Bill Beament says he plans to build the company he’d always envisioned when he starts at Venturex Resources on July 1 (reports MiningNews). In February, it was announced Beament would leave Northern Star after 14 years after taking the company from a A4c shell to the $13 billion gold major it is now. He'll join junior copper-zinc developer Venturex and will also own about a third of the company after putting in $37.3 million of a $58 million recapitalisation.

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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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Having decided to pivot to rare earths in Western Australia, farming out its promising properties in the Lachlan Fold Belt to Kincora Copper, RareX has decided the time is right to demerge its remaining non-core metal interests (reports MiningNews).

Having decided to pivot to rare earths in Western Australia, farming out its promising properties in the Lachlan Fold Belt to Kincora Copper, RareX has decided the time is right to demerge its remaining non-core metal interests (reports MiningNews). RareX wants to focus on its Cummins Range project in WA's Kimberley region, so it will seek shareholder approval to spin-out its nickel, copper, and Byro East platinum group elements in WA, and its Orange East gold project in New South Wales, under the umbrella of Cosmos Exploration.

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Plus, our whisper last week on Rumble proved well-founded but don’t forget Zenith, Beament begins his goodbyes at Northern Star, Sovereign prepares for maiden rutile resource and Biswas has a crack at cryptos

The turnaround in the lithium market has been remarkable stuff, with the key battery material swept up in the global “green” investment boom in the decarbonisation of transport and energy. The resultant surge in lithium prices in the opening months of 2021 has seen last year’s beaten-up lithium stocks recapture their darling status. Pilbara (PLS) tells the tale. In the depth of despair over COVID-19 a year ago, Pilbara could be bought for 18c. It has since climbed to $1.11.

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OZ Minerals says soaring coronavirus cases could have a material impact on its Brazilian copper operations, with the miner flagging the loss of output amid the “deteriorating” situation in the pandemic-wracked nation (reports The Australian).

OZ Minerals says soaring coronavirus cases could have a material impact on its Brazilian copper operations, with the miner flagging the loss of output amid the “deteriorating” situation in the pandemic-wracked nation (reports The Australian). OZ Minerals on Thursday maintained its annual production guidance of 120,000 to 145,000 tonnes of copper output for the year.

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Pilbara Minerals has booked record quarterly production from its flagship Pilgangoora lithium mine south of Port Hedland as prices for its battery-focused product improve significantly (reports The West Australian).

Pilbara Minerals has booked record quarterly production from its flagship Pilgangoora lithium mine south of Port Hedland as prices for its battery-focused product improve significantly (reports The West Australian). The Ken Brinsden-led miner said in its March quarter update it had achieved record spodumene production in the period of 77,820 dry metric tonnes, which included an annualised run rate of 330,000tpa plant nameplate capacity in January and February.

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Genesis Minerals is raising A$11 million via a placement and share purchase plan as it works towards a final investment decision for its Ulysses gold project by the end of the year (reports MiningNews).

Genesis Minerals is raising A$11 million via a placement and share purchase plan as it works towards a final investment decision for its Ulysses gold project by the end of the year (reports MiningNews). The company received firm commitments for a placement of 166.7 million shares to raise $10 million. Major shareholder Alkane Resources will subscribe for up to $2.1 million worth of shares to maintain its 19.8% stake, subject to shareholder approval. The issue price is 6c per share, a 4.8% discount to the last closing price.

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