News

Northern Star Resources and Saracen Mineral Holdings have hailed record half-year results ahead of Friday’s merger that will propel the combined entity into the world’s top 10 gold producers (reports The West Australian).

Northern Star Resources and Saracen Mineral Holdings have hailed record half-year results ahead of Friday’s merger that will propel the combined entity into the world’s top 10 gold producers (reports The West Australian). Northern Star toasted a record statutory net profit after tax of $184.5 million for the six months to the end of December. That was up 46 per cent on the previous corresponding period.

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Liontown Resources has appointed a new managing director and CEO to drive the development of the Kathleen Valley lithium deposit (reports MiningNews).

Liontown Resources has appointed a new managing director and CEO to drive the development of the Kathleen Valley lithium deposit (reports MiningNews). Senior BHP executive Tony Ottaviano will take up the top job from May 1. Ottaviano was most recently program director BHP operating system and improvement at BHP and was previously vice president, strategy, development and planning at BHP Iron Ore. A mechanical engineer, he has also worked at Argyle and for Wesfarmers.

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Boss Energy managing director Duncan Craib says the company is well-positioned to take advantage of improving uranium market fundamentals (reports MiningNews).

Boss Energy managing director Duncan Craib says the company is well-positioned to take advantage of improving uranium market fundamentals (reports MiningNews). Craib told the Resources Rising Stars Summer Series that current dynamics in the uranium market were "fascinating". "Investor sentiment is front-running an expected rise in price," he said. Shares in Boss have roughly doubled since the start of November.

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With agricultural prices soaring, metal prices hitting the highest in years and oil well above $US50 a barrel, JPMorgan Chase & Co. is calling it — commodities appear to have begun a new supercycle of years-long gains (reports Bloomberg).

With agricultural prices soaring, metal prices hitting the highest in years and oil well above $US50 a barrel, JPMorgan Chase & Co. is calling it — commodities appear to have begun a new supercycle of years-long gains (reports Bloomberg). A long-term boom across the commodities complex appears likely with Wall Street betting on a strong economic recovery from the pandemic and hedging against inflation, JPMorgan analysts led by Marko Kolanovic said in a report on Wednesday.

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Despite iron ore’s well documented economic significance, it faces deep-seated pessimism among industry commentators (writes Mark Eames in The Australian Financial Review).

Despite iron ore’s well documented economic significance, it faces deep-seated pessimism among industry commentators (writes Mark Eames in The Australian Financial Review). The commodity supports 70 per cent of the world’s steel production. Steel is everywhere, underpinning our modern civilisation. Production of the next most significant metal, aluminium, is one-30th the volume of steel globally. Iron ore generates two-thirds of global mining industry profits.

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Several major brokers were quick to lift their price targets for Centaurus Metals (ASX: CTM) after the fast-growing nickel developer unveiled an updated Mineral Resource estimate for its flagship Jaguar project in Brazil last week.

Several major brokers were quick to lift their price targets for Centaurus Metals (ASX: CTM) after the fast-growing nickel developer unveiled an updated Mineral Resource estimate for its flagship Jaguar project in Brazil last week. The updated Resource, following six months of in-fill drilling, resulted in a 50% increase in Indicated Resources to 223,000 tonnes of contained nickel, with the global estimate increasing to 58.6 million tonnes grading 0.95% Ni for 557,800 tonnes of contained nickel.

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Bardoc Gold is putting the finishing touches on the definitive feasibility study for its namesake gold project near Kalgoorlie (reports MiningNews).

Bardoc Gold is putting the finishing touches on the definitive feasibility study for its namesake gold project near Kalgoorlie (reports MiningNews). The DFS for the 3 million ounce project will be released in March, with capital costs expected to be about A$140 million. Bardoc is targeting production of over 135,000 ounces of gold per annum over about eight years at all-in sustaining costs of $1220 an ounce. "There are significant margins to be made at the project," CEO Rob Ryan told the Resources Rising Stars Summer Series yesterday.

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And as the uranium sector begins to glow amid bullish price forecasts, Boss moves to finance production restart at South Australian project

Copper has been a star performer since mid-2020 in response to COVID production hits in Latin America, global stimulus, and the global decarbonisation push gathering momentum. The red metal averaged all of $US2.50/lb in the first (calendar) six months of 2020 and is now sitting pretty at $US3.54/lb. Much of the gain can be attributed to COVID-related supply concerns and COVID-related stimulus. Decarbonisation is the longer-term and potentially more explosive thematic, with copper supply shortages more or less baked in come 2025.

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