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Mining

Judge labels Palmer/CITIC dispute a waste

Supreme Court justice Kenneth Martin has slammed the long-running legal battle between Clive Palmer’s Mineralogy and CITIC Pacific Mining as a massive, unnecessary waste of judicial resources, with both parties bearing responsibility.

FMG to create autonomous transport for urban areas

Fortescue Metals Group will establish a research and development centre in Karratha to develop autonomous transport for urban areas.

Blackham to raise $26m to help pay off debts

Blackham Resources has announced a fully underwritten renounceable entitlements issue to raise $25.8 million, of which $10 million will be used to pay debts owing to contractor MACA and The Lind Partners.

Beament sells $22m stake

Northern Star Resources executive chairman Bill Beament has sold about $22 million worth of shares in the gold miner, as part of a Family Court settlement.

Perth the home for $46m mining centre

A federal Labor government will make Perth the home base for an Australian Future Mines centre, and has also pledged to provide 50 mining engineering scholarships at WA universities.

Crusader sells Juruena to Meteoric for up to $3.5m

Meteoric Resources has struck a deal to pay up to $3 million in cash and scrip for Crusader’s Resources Juruena and Novo Astro gold projects, and Crusader has increased the underwriting of its $4.2 million rights issue by $1 million.

RCR’s secured creditors may only get 30%

RCR Tomlinson’s secured creditors may only receive around $70.6 million of the $230 million they are owed, and its unsecured trade creditors are likely to receive none of the $170.6 million they are owed, as administrators McGrathNicol recommended the failed engineering firm be liquidated.

Kalium obtains $102m in funding for Beyondie

Kalium Lakes has secured around $102 million of debt funding for the development of its Beyondie sulphate of potash (SOP) project, less than a month after receiving commitments for $74 million from the Northern Australia Infrastructure Facility for the project.

Mincor signs offtake agreement with BHP Nickel West

Mincor Resources has extended its offtake agreement with BHP Nickel West, marking a key step in Mincor’s restart of its Kambalda nickel operations.

Brazil court stops two more Vale operations

A Brazilian court has ordered Vale SA, the world's largest iron ore miner, to suspend operations at two more dams, demanding that it prove the structures are stable.

Juniors in $23.7m of capital raisings

Northern Minerals and Venturex Resources have announced share placements of $20 million and $3.65 million, respectively.

GR Engineering wins Mardie DFS contract

BCI Minerals has appointed GR Engineering as lead engineer on the Mardie salt and potash project’s definitive feasibility study (DFS).

Pilbara Minerals enters into South Korean JV

Pilbara Minerals has exercised an option to enter into a joint venture with steelmaker Posco to develop a lithium processing facility in South Korea.

Altura increases share purchase plan again to $14m

Altura Mining has increased its share purchase plan (SPP) by $4 million, just two days after it upsized the offer from $5 million to $10 million.

Topham drills through adversity

40under40: Tim Topham had to wrestle with big challenges to create one of the Goldfields’ most prominent drilling businesses.

Beaver’s goal more than a pipe dream

40under40: It’s said that adversity often provides opportunity, and the success of this year’s Medium Business category winner bears that out.

Battery Minerals gets new MD, chairman

David Flanagan has moved to a new executive chairman role at Battery Minerals, making way for former Atlas Iron chief operating officer Jeremy Sinclair to become managing director, among several board changes at the graphite company.

Altura hits commercial production, doubles SPP

Altura Mining has declared its Pilgangoora lithium project is now producing commercial amounts of lithium, while increasing its share purchase plan from $5 million to $10 million.

Crew blundered in BHP runaway train drama

A BHP Group rail maintenance crew applied brakes to the wrong locomotive when they tried to help the driver of a runaway iron ore train, which ended up being deliberately derailed in the Pilbara region.

Rare earths project blowout to add nearly $92m

Hastings Technology Metals has reported that capital costs of its Yangibana rare earths project are expected to be approximately $427 million, compared to the $335.3 million figure it outlined in its definitive feasibility study.

Gindalbie proposes demerger, set to be acquired for $25m

The board of Gindalbie Metals has recommended shareholders accept a takeover offer from its Karara project partner Ansteel, and has proposed to demerge its wholly-owned subsidiary Coda Minerals.

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