News

The federal government will provide $150 million in financial backing for a new mineral sands mine in Western Australia that includes secondary rare earths capacity, as it continues to focus on developing critical minerals supply chains (reports The AFR)

The federal government will provide $150 million in financial backing for a new mineral sands mine in Western Australia that includes secondary rare earths capacity, as it continues to focus on developing critical minerals supply chains (reports The Australian Financial Review). The concession loan package for the Strandline Resources project will come from the Northern Australia Infrastructure Facility, which is accelerating allocations from its $5 billion funding pool.

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IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian)

IGO will lift its stake in Mincor Resources to 8 per cent as part of a $60 million capital raising that will give the David Southam-led company the cash to restart nickel mining at its shuttered Kambalda operations (reports The West Australian). The price of the raising is still to be decided but it is understood it will comprise a $50 million placement and a $10m share purchase plan. The raising will allow Mincor to boost its cash balance to $100m to reactivate its Kambalda nickel operations.

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Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews)

Genesis Minerals has agreed to acquire the Kookynie gold project near Leonora in Western Australia, and will raise A$19.5 million to advance a standalone project at its adjacent Ulysses project (reports MiningNews). The company had entered into an agreement with A&C Mining and Yijun Zhu to acquire Kookynie, which has a resource of 8.53Mt at 1.5 grams per tonne gold for 414,000 ounces of gold.

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At first blush, Fenix Resources seems to be hearkening back to the boom days of 2012 with its plan to mine an iron ore deposit at Iron Ridge (reports The West Australian).

At first blush, Fenix Resources seems to be hearkening back to the boom days of 2012 with its plan to mine an iron ore deposit at Iron Ridge (reports The West Australian). The single project company has only a small resource 600km north-north-east of Perth and plans trucking its ore a mind-numbing 490km to Geraldton for export. But on closer examination of the numbers and prevailing market conditions, it seems the stars might just be starting to align for the unlikely project.

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Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”

Rarex executive director Jeremy Robinson says management is finding it “hard to tear ourselves away from the Trundle copper-gold porphyry joint venture exploration project in New South Wales at the moment”, with very keenly awaited drilling assays expected over the next 2-4 weeks (reports MiningNews). Deep holes at the Trundle Park and Mordialloc have both given the company and its Canada-listed partner Kincora Copper strong encouragement, with the latter prospect reportedly particularly promising.

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The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian).

The Environmental Protection has recommended approval of Calidus Resources’ proposed 1.25Moz Warrawoona gold project in the Pilbara, subject to conditions (reports The West Australian). Warrawoona, which lies 20km south of Marble Bar, will include two open pits and one underground mine, a waste rock dump and tailings dam within a 1000ha development envelope.

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Firefly Resources (ASX: FFR) is the latest junior to up its gold exposure after revealing it is acquiring the Yalgoo gold project in Western Australia’s Murchison region (reports Small Caps).

Firefly Resources (ASX: FFR) is the latest junior to up its gold exposure after revealing it is acquiring the Yalgoo gold project in Western Australia’s Murchison region (reports Small Caps). The company is acquiring the project by purchasing private entity Aurum Minerals for $2.91 million-worth of Firefly shares. To fund exploration, which will begin as soon as permitting allows, Firefly will raise up to $2.3 million.

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Rio has spent a month provoking the world’s escalating abhorrence with iterative, disingenuous, pedantic and qualified apologies (reports The Australian Financial Review).

Rio has spent a month provoking the world’s escalating abhorrence with iterative, disingenuous, pedantic and qualified apologies (reports The Australian Financial Review). Nearly a month since Rio Tinto detonated the Juukan Gorge caves over the protests of their traditional owners, the mining giant’s chairman, Simon Thompson, nailed his apology on the first attempt. “On behalf of the Rio Tinto board, I would like to apologise to the Puutu Kunti Kurrama and Pinikura people,” Thompson said on Friday.

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