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Mining

IGO to conduct due diligence on Panoramic

Panoramic Resources and Independence Group have entered into a confidentiality deed which allows IGO to conduct its due diligence on Panoramic and the Savannah nickel mine, in relation to an off-market takeover offer launched earlier this month.

Vango enters agreement with Chinese entity

Vango Mining has entered a non-binding agreement with China-based Nonferrous Metal Industry’s Foreign Engineering and Construction (NFC) to provide $70 million for its Marymia project in the Mid-West region.

Winchester to raise $6.4m

US-focused Winchester Energy has received commitments to raise $6.4 million through a share placement to fast-track oil exploration and production activities at its Permian Basin project in Texas.

Mincor to raise $35m

Perth-based Mincor Resources has received commitments to raise $30 million through a placement, backed by major shareholders Andrew Forrest and Independence Group, and is looking to raise a further $5

WA resources projects to save $23m a year

The Chamber of Minerals and Energy of WA (CME) has welcomed the federal government’s plan to deliver new deregulation measures for Australian businesses, saying it could save Western Australian resources projects more than $23 million each year.

Meteoric to raise $7m

Perth-based Meteoric Resources has received commitments to raise $7 million through a share placement to accelerate its Juruena and Novo Astro gold projects in Brazil.

Monadelphous wins $100m contract with Rio

Engineering company Monadelphous has secured a five-year, $100 million contract for maintenance work across Rio Tinto’s iron ore mines in Western Australia.

MinRes shifts focus to Yilgarn

About $300 million will be invested by Mineral Resources into expansion projects in the 2020 financial year, led by moves to boost Yilgarn iron ore output nearly 50 per cent.

MACA wins $480m contract

Mining contractor MACA has secured open pit mining works for the restart of First Quantum Minerals’ Ravensthorpe nickel mine, which it said would generate $480 million in revenue over an initial five-year term.

Australia, US partnership for critical minerals

The mining sector has welcomed an agreement signed by Geoscience Australia and the United States Geological Survey to collaborate on developing critical minerals assets, which include commodities such as lithium and rare earths.

Sipa MD retires, joins Regis

Sipa Resources managing director Lynda Burnett has announced her resignation, after serving more than five years in the role, and will join the board at Regis Resources as an independent non-executive director.

Galaxy to cut back operations at WA mine

Lithium miner Galaxy Resources said it would scale back operations at its Mt Cattlin mine in Ravensthorpe to help reduce costs until the electric vehicle market improves.

Alderan partners with Rio for US project

Minerals explorer Alderan Resources has entered an earn-in and joint venture agreement worth up to $US30 million with Rio Tinto to explore its Frisco project in Utah.

Tietto to raise $17m

African-focused gold explorer Tietto Minerals announced it would raise $17 million through a share placement, primarily to fund drilling at the company’s Abujar project in Côte D’Ivoire.

Saracen pays $US750m for Super Pit stake

Saracen Mineral Holdings confirmed today it has agreed to buy a 50 per cent stake in Kalgoorlie’s famous Super Pit gold mine with managing director Raleigh Finlayson saying the asset has already delivered positive surprises.

ERA to raise $476m to close uranium mine

Rio Tinto said it will subscribe to $326 million rights shares of Energy Resources of Australia, which has been desperately seeking funds to close and rehabilitate the controversial Ranger uranium mine.

Talga to raise $6.3m

West Perth-based Talga Resources is seeking to raise $6.25 million through a share placement and purchase plan, primarily to fund the development of its graphite project in Sweden.

Home comforts in new dongas

Two Perth builders have come up with more liveable and homely accommodation for fly-in, fly-out workers after more than 200 were surveyed.

Beament gets $28m windfall

Northern Star Resources executive chairman Bill Beament has been handsomely rewarded for the gold miner’s strong performance over the past few years, with the recent exercising of three million performance rights.

IGO reviews takeover after Panoramic update

Takeover target Panoramic Resources revealed today operational performance at its Savannah nickel project would be below previous forecasts over the next four months and that it would need to raise extra capital, with bidder Independence Group saying it would now review its offer.

Johnston bullish on batteries

There’s no bad news in Western Australia’s battery industry, Energy Minister Bill Johnston says, shrugging off the deferral of major projects in recent months.

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