Tag: Kalgoorlie Boulder

Posted on

What You Missed in the News This Week

The West Australia government fears heavy rains could wash polluted water from Alcoa mines into the state’s biggest dam, making the water undrinkable.

The US aluminium giant that mines bauxite within 300 metres of the water’s edge at Serpentine Dam changed its methods about five years ago, increasing the risk of sediment flowing into the dam.

If the water was contaminated, it would cost taxpayers up to $2.6b and potentially take years to fix.

 

Shire of Serpentine

 

Battery Age Minerals has appointed Nigel Broomham as it’s General Manager of Exploration.

Broomham will spearhead the exploration of its portfolio of international batter metal assets.

Battery Age CEO Gerard O’Donovan said “Nigel is a highly experienced geologist who played an important role in the exploration, development and operation of Pilbara Minerals’ world-class Pilgangoora lithium project,” he said.

“He brings extensive technical geological expertise, strong commercial acumen and considerable energy and enthusiasm – all of which will be invaluable as we embark on our growth journey as a diversified battery metals company.”

 

 

Aerison Group has been awarded multiple new contracts for projects in Western Australia and South Australia, totalling $100m.

The projects involve the rare earths, agricultural, green energy and chemicals sectors and includes the Yuri Green Hydrogen project in the Pilbara.

Aerison CEO Giuseppe Leone said “These contract awards are an important step in delivering our industry diversification strategy, with an increasing focus on the critical mineral, agriculture and chemicals sectors.”

 

Aerison Group

 

Newcrest has received a $24B takeover offer from rival gold miner Newmont.

The offer would entitle Newcrest shareholders 0.38 Newmont shares for ever 1 Newcrest share they own.

Newmont president Tom Palmer said “The proposed transaction would join industry-leading portfolios of assets and projects to create long-term value across the combined global business, and we welcome the consideration of Newcrest’s board of directors.”

 

Newcrest Mining

 

Hancock Energy is the sole bidder for the takeover of Warrego Energy after Strike Energy bowed out this week.

Mineral Resources and Beach Energy were both contenders but pulled out last month.

Strick Energy will still walk away with $116m from their shares worth 25.99% voting power.

 

 

The S&P/ASX200 markets closed lower today after a disappointing week.

Starting off at 7,560 points on Monday, the markets fell throughout the week to end on 7,434 points. The markets still sit 479 points higher than the start of the month.

The All Ordinaries closed lower too, at 7,631 points, though still higher than the last 6 months.

 

 

The gold price remained steady after the dramatic fall last week, hovering around $1,875USD, before finishing at $1,866.15.

Silver has remained steady, rounding off the week at $22.34USD.

Posted on

What You Missed in the News This Week

Boss Energy has appointed James Davidson as general manager of its Honeymoon Uranium project and Jacobus van Rooyen as its construction manager.

Boss Energy managing director, Duncan Craib said James Davidson “has immense experience across project management and construction, with particular emphasis on uranium metallurgy and operations.”

Craib also said “Kobus is a team player, having held and achieved key senior roles as a multi-disciplined
construction manager, effectively managing resources to deliver small scale all the way through to mega project objectives and deliverables safely, on time and within budget, he will further bolster our team as construction at Honeymoon ramps up.”

 

Boss Energy

 

Oz Minerals saw an increase of total copper production in the December Quarter compared to the previous quarter, increasing 6,295 tonnes to 36,307 tonnes. Total gold production decreased from 56,334 ounces to 54,856 ounces.

Both copper and gold production of the FY2022 sat within the target figure – which was revised mid-year.

Managing Director and CEO, Andrew Cole said “A strong final quarter saw a 21 per cent lift in copper production, quarter on quarter, resulting in group production and cost guidance (revised mid-year) being met and creating positive momentum for 2023.

“We are pleased with how the team rest and recalibrated performance to end the year on a strong note after a challenging first half impacted by adverse weather, COVID-19 absenteeism, and supply chain disruption and inflationary pressure. The December quarter of 36,307 tonnes of copper is the highest group copper production on record.”

 

 

Iluka Resources has awarded SciDev a three-year contract for the supply of MaxiFlox chemistry, used for the treatment of mine site tailings to maximise water recovery and reduce the tailings footprint.

SciDev CEO, Seán Halpin said “Our ongoing relationship with Iluka reflects both the quality of our products and the skill set of our team.”

 

Iluka Resources

 

Liontown Resources has commenced open pit mining at its Kathleen Valley Lithium Project.

Iron Mine Contracting is providing open pit mining services at the site, including drilling; blasting; loading and hauling of ore and waste; hauling road construction; and pit dewatering services.

Liontown Managing Director and CEO, Tony Ottaviano said “Completion of the first blast and commencement of open pit mining at Kathleen Valley is a significant milestone for Liontown, signifying our transition from explorer to mining operator.”

 

Liontown Resources

 

The S&P/ASX200 markets have continued the strong increase from the start of the year, beginning  the week at 7,492 points and finishing off at 7,558 points.

The All Ordinaries followed the same trend, setting a new 100-day high, and ending at 7,772 points.

 

 

Gold continues to stay around the highest its been since May, sitting at $1,919.07oz.

Silver started slow at $24.07oz and peaked at $24.47oz on Thursday but fell again at the end of the week to $23.75oz.

Posted on

What You Missed in the News This Week

St Barbara Minerals released their December quarterly report this week, with disappointing results.

Consolidated gold production was down from 63,700oz in the September quarter to 60,976oz.

The Leonora operations saw a reduction of gold production from 34,078oz last quarter to 32,175oz. The December quarter from the year before produced 16,462oz more gold than this quarter.

The amount of gold sold was 32,634oz, down 2,712oz from last quarter and 22,966oz less than the same quarter last year.

St Barbara’s share price dropped 21.348% to $0.70 after the report was released on Wednesday.

 

St Barbara

 

Pilbara Minerals has appointed John Stanning as Chief Development Officer.

In the newly created position, stanning will over see Pilbara Mineral’s corporate development, growth and exploration functions.

Managing Director and CEO, Dale Henderson said “John brings an impressive track record of lithium sector experience and relationships across the value chain. We are looking forward to having John join our executive team and working closely with him to further our growth objectives as an emerging leader in the provision of sustainable battery materials products.”

 

 

Pilbara Minerals has awarded Primero Group a $62m contract for construction work at its Pilgangoora project.

The contract is for the construction of a primary rejection facility and preliminary works for a new crushing and ore sorting facility.

Located 120km from Port Hedland, the project is located at one of the world’s largest hard rock lithium deposits.

Pilbara Minerals managing director and CEO, Dale Henderson said “We look forward to working closely with Primero for the safe and successful delivery of this package, which will step-up our production run-rate to the next level with a total of
680 kilo-tonnes per annum of spodumene concentrate across the combined Pilgangoora operation.

“The successful completion of this project will further cement Pilbara Minerals’ position as
an emerging leader in the provision of sustainable battery materials products.”

 

Primero Group

 

Fortescue Metals has released its December quarter report for 2022, announcing record shipments.

Andrew Forrest said “The Fortescue team delivered our highest ever December quarterly shipments of 49.4 million tonnes, our best ever half year, grew the mineral and green energy business globally, strengthened our balance sheet, kept costs low, all while maintaining our excellent safety performance.”

Fortescue’s cash balance increased to $4B USD on 31st December 2022, compared to $3.3B USD for the September quarter.

 

Fortescue Metals

 

The S&P/ASX200 markets finished up on Friday at 7,493.8 points, setting a new 100-day high.

The week started at 7,435 points before gaining 0.56% through the week.

Megaport Limited and Liontown Resources were the top performing stocks, gaining 7.22% and 5.19% respectively.

The All Ordinaries closed up at 7,707.5 points.

The top performing stocks were 88 Energy Limited and Develop Global Limited, gaining 18.18% and 12.68%.

 

 

Gold peaked at $1,951.15USD on Wednesday, continuing a 9-month high, and rounding off the week at $1,928.82USD.

Silver stumbled at the start of the week, falling from $24.18USD to $23.79USD on Tuesday, before it rose again to finish off the week at $24.07USD.

Posted on

What you missed in the news this week

Hancock Energy has increased its offer to buy Warrego Energy from $0.28 cash per share to $0.36 cash per share, totalling $447m if the offer is approved.

Three of the Four Warrego directors have recommended shareholders accept the deal over an offer made by Strike Energy, offering one Strike share for every Warrego share.

Hancock Prospecting

 

Great Western Exploration will extend its Firebird Gold Project after gold anomalism was found at their Greenstone Belt site, located near Wiluna.

The announcement saw a 4% share price increase for Great Western Exploration to $0.052.

 

Fortescue CFO Ian Wells has announced his resignation in order to spend time with family and friends.

Wells is the ninth executive in two years to resign, not long after Guy Debelle resigned in November last year.

Wells said that despite his resignation, “Fortescue is in a strong position to be able to deliver on short-, medium- and long-term growth options through the Iron Bridge magnetite project, Fortescue’s decarbonisation, and FFI’s (Fortescue Future Industries) portfolio of opportunities.”

Fortescue Metals

 

Everest Metals Corporation’s share price jumped 20.87% to $0.110 per share after an initial drilling program at their Mt Edon mining lease saw positive pegmatite levels, causing EMC  to push to exercise its exclusive farm-in option to acquire the right to 100% interest in the Mt Edon Project.

Chief Operating Officer, Simon Phillips said “EMC is pleased to announce its decision to exercise its right to farm into the Mt Edon LCT Pegmatite Project, subject to Shareholder approval. The company is pleased to have the opportunity to take the next step towards 51% ownership in a project with such an extensive array of pegmatite outcrops over six kilometres. The recent reconnaissance drill program gave EMC the data it needed to commit to the next stage of exploration at this highly fertile pegmatite field as part of the Company’s commitment to its Battery Minerals project development strategy”

 

Lithium Power International has commenced its drilling program at its East Kirup Lithium Prospect this week.

East Kirup is located in the Greenbushes region, Southwest of Collie.

LPI Executive Director, Andrew Phillips said ““The results of this drilling program will be used − along with previously completed environmental surveys − to prepare a CMP to allow drilling on new tracks, the commencement of phase three.

The intention is to hit the ground running in 2023, and we are pleased that the commencement of the program is so early in the year.”

 

The S&P/ASX 200 started off the week slow at 1,178 points before falling to 7,126 points on Wednesday. The market picked up again, increasing 202 points to finish off at 7,328 points.

The All Ordinaries finished at 7,540 points. The top performing stocks where Poseidon Nickle and Andromeda Metals.

 

Gold had a slow rise this week, starting at $1,882.00 USD and rounded the week off at $1,898.90 USD at the close of the ASX.

Silver was more turbulent, falling from $24.30 USD to $23.89 USD on Tuesday, raising again to $24.17 USD on Wednesday, then falling again on Thursday to $23.88 USD before finishing off the week at $23.94 USD.

Posted on

12 Months of Mining Recap

A lot has happened in 2022 so we’ve compiled some of this year’s biggest mining news:

January

Rio Tinto expects the introduction of battery-electric powered trains in the Pilbara will help them halve their emissions by 2030.

They hope the trial will pave the way for its entire fleet of 220 diesel locomotives to go electric.

Fortescue Metals Group also plans to replace diesel-powered vehicles by 2030 in their plan to decarbonise.

Then FMG chief executive Elizabeth Gaines said to achieve carbon neutrality: “we will have to replace our mining fleet, our rail fleet, shipping, all of those areas that are mobile that rely on the use of diesel.”

Rio Tinto

 

February

Lynas has received approval from WA Environment Minister Reece Whitby to build $500m rare earths refinery at Kalgoorlie.

The plant is scheduled to begin production next year and is expected to create over 120 jobs.

Kalgoorlie-Boulder Mayor John Bowler said he hopes the plant will operate for decades: “This is the next big metal, something totally different from gold and nickel … it’s a big occasion and great day for Kalgoorlie-Boulder.”

 

May

Ron Sayers, West Australian mining tycoon who founded the Perenti Group, has died after his battle with stomach cancer and Alzheimer’s disease.

Sayers began as a fitter on Kalgoorlie’s Golden Mile before founding his company Ausdrill in 1987.

Today the ASX200 listed company employs more than 8,000 employees across 12 countries.

 

Construction has begun on a 580km pipeline in WA that will take gas from the Perth basin to the Goldfields.

The $460m pipeline will form part of the Northern Goldfields Interconnect pipeline, aimed to significantly increase the volume of gas available inland.

 

June

The United States Department of Defence has awarded Lynas Rare Earths a $120USD contract to build a processing facility on the Gulf Coast in Texas.

The production of the facility aims to reduce the US’ reliance on China for rare earth minerals.

Lynas managing director Amanda Lacaze says the deal demonstrates the priority that the US is placing on “ensuring that supply chains for these critical materials are resilient and environmentally responsible”.

 

July

Australian mining company Lucapa has unearthed a rare 170-carat pink diamond, one of the biggest pink diamonds ever found.

“The Lulo Rose” is believed to be the largest found in 300 years.

Lucapa Diamond

 

October

Two people have died in 72 hours in separate mining incidents in WA.

The first died after a rock fall at the Hamlet underground mine at Saint Ives near Kambalda.

The second died at the Capricorn Metals’ Karlawinda gold mine near Newman when his vehicle was run over by a large dump truck.

 

November

A $750m community investment trust funded by WA’s big fish in mining has been set up by the state government to help fund infrastructure in remote communities and legacy projects.

The government hopes to eventually have $1b in the fund, so far Rio Tinto and BHP have contributed $250m each, Hancock Prospecting has contributed $100m, Woodside $50m, Chevron $50m and Mineral Resources has contributed $50m.

Projects to be funded include an Aboriginal Cultural Centre for Perth’s CBD, the refurbishment of the Perth Concert Hall and upgrades to the Perth Zoo as well as several projects in remote WA.

 

Swedish company, Epiroc, has agreed to acquire Kalgoorlie Boulder company, Remote Control Technologies Pty Ltd.

RCT was founded 50 years ago and provides automation solutions to mining companies.

RCT is the second Kalgoorlie Boulder company acquired by Epiroc this year, after their acquisition of JTMEC earlier in the year.

The acquisition is expected to be completed by the end of the year.

RCT

 

December

St Barbara and Genesis Minerals have announced their merger to create Hoover House,

St Barbara will acquire 100% of the shares in Genesis. Genesis shareholders will own 41% of Hoover House, with St Barbara shareholders owning 38%.

Hoover House will have a production target of over 300,000oz of gold per annum.

St Barbara chair, Tim Netscher, said: “The merger with our Leonora neighbour, Genesis, to create Hoover House, will accelerate our Leonora Province Plan. Shareholders will reap the benefits of more production at lower cost and lower risk from this prolific mining district.”

Genesis Managing Director, Raleigh Finlayson, said: “By combining with St Barbara, we are creating Hoover House, the premium Australian gold company we envisaged, with sustainable, high-quality production.”

St Barbara

 

Elizabeth Gains is stepping down as CEO of Fortescue to become their ambassador for their global green hydrogen brand. Gains will remain a non-executive director.

Gains will be responsible for promoting green hydrogen, green ammonia and green energy.

Since Gains began leading the company in 2018, Fortescue’s share price has quadrupled, and shareholders have grown from less than 35,000 to 170,000.

“ I don’t see this as a departure of any shape or form. I think it’s just the opportune time for Fortescue who are genuinely transitioning,” Ms Gaines said.

 

Posted on

What you missed in the news this week

St Barbara and Genesis Minerals have announced their merger to create Hoover House,

St Barbara will acquire 100% of the shares in Genesis. Genesis shareholders will own 41% of Hoover House, with St Barbara shareholders owning 38%.

Hoover House will have a production target of over 300,000oz of gold per annum.

St Barbara chair, Tim Netscher, said: “The merger with our Leonora neighbour, Genesis, to create Hoover House, will accelerate our Leonora Province Plan. Shareholders will reap the benefits of more production at lower cost and lower risk from this prolific mining district.”

Genesis Managing Director, Raleigh Finlayson, said: “By combining with St Barbara, we are creating Hoover House, the premium Australian gold company we envisaged, with sustainable, high-quality production.”

St Barbara

 

The federal government has announced a cap on gas and coal prices as part of its Energy Price Relief Plan.

The plan includes the 12-month emergency gas price cap, a targeted energy bill relief for households and businesses, and investment in cleaner, cheaper and reliable energy.

Anthony Albanese said the action is designed to “provide all Australians with a buffer in unprecedented times.”

 

A South African researcher has developed a new way to remove contaminates from water used in mining.

The process involves small polystyrene beads that chemically bond with pollutants as the water passes through, cleaning the water and collecting the pollutants for reuse.

Ed Hardwick, owner of Cwenga Technologies said the beads extract valuable materials from the water: “What has been identified in some streams, especially coal mining streams, is that the acid that’s produced from the mine waters actually dissolves out some rare earth materials.”

 

Aruma Resources has announced its recently completed diamond core drilling program at their Salmon gums Gold Project has expanded the project’s Greenstone footprint to over 75km2.

The drilling, located at their Norseman Gold Camp was designed to provide a deeper geological understanding of the project and opened up the potential for the project to host multiple horizons.

 

Kin Mining has completed their first deep diamond drill-hole at Helens-Rangoon Fault – which saw wide zones of shallow gold – to test an Induced Polarisation anomaly.

The drilling was completed at their Cardinia Gold Project near Leonora and has intersected significant zones of gold mineralisation.

Kin Mining Managing Director, Andrew Munckton, said: “This represents a strong start to the 5‐hole diamond drill program, which is designed to test the first generation of deeper targets at Cardinia with the aim of uncovering new, high‐grade discoveries within the exciting Eastern Corridor.”

Shire of Leonora

 

S&P/ASX 200 markets started out the week a little lower, at 7,163 points before climbing to 7,253 points at the end of Wednesday. The markets saw a sudden drop Friday morning, falling from 7,209 points to 7,122 points before making a slight comeback to finish the week.

The All Ordinaries followed a similar trajectory, falling 91 points to 7,304 points Friday morning, before climbing again throughout the day.

 

Gold peaked at a 3-month high of $1,813.70USD on Wednesday, before dropping again to $1,787.85USD to round out the week.

Silver saw a 6-month high of $24USD on Wednesday before a slight decline to $23.35USD to end the week.

Posted on

What You Missed in the News This Week

IGO’s Nova Mine will cease operations for several weeks after a fire started in the diesel engine room.

No one was injured in the fire, but the West Australian mine safety authorises have launched an investigation into the incident.

The mine is located in the Fraser Range, 160km east of Norseman.

IGO’s acting chief executive, Matt Dusci said “We are thankful that all our people are safe and unharmed. We have activated our contingency plans and will work to re-establish operations at Nova as quickly and safely as possible.”

IGO’s Nova Mine

 

The Saint Barbara Festival took place last week in Kalgoorlie.

The annual event consists of the Miners Memorial Service on Thursday 1st December and the St Barbara’s Parade on Sunday 4th December.

St Barbara’s Parade

Codrus Minerals has announced high grades at their Niobium-Rich Karloning REE Project in north of Mukinbudin in the Wheatbelt.

Codrus Managing Director, Shannan Bamforth said: “We are excited by the high grades returned from 3 samples that exceeded the upper detection limit in the original assaying. Seeing grades for heavy REE elements of this magnitude is very positive, particularly given that these metals are intrinsically linked to the decarbonisation thematic.”

 

The S&P/ASX 200 closed on a lower note this week. Starting at 7,321 points on Monday, before finishing at 7,213 points on Friday.

Champion Iron and Sandfire Resources were top performing shares, gaining 5.15% and 4.81% respectively.

The All Ordinaries finished on 7,406 points, falling from the high of 7,551 from Monday.

 

Gold dropped on Tuesday from $1,810.70USD to $1,7744.54USD before rising again over the last few days to finish up at $1,798.80USD.

Silver also fell significantly on Tuesday from $23.49USD to $22.63USD but gained it back during the week to $23.44USD

Posted on

What You Missed in the New this Week

Surbiton Associates has announced Australian gold production for the September 22 quarter is down 9% from the June 22 quarter.

The September quarter saw 76 tonnes compared to the 83 tonnes from the June quarter.

Surbiton Associates director, Dr Sandra Close said gold production for the quarter is somewhat disappointing and stated “some wet weather and Covid-19 problems affected output adversely” but is confident these effects are slowly receding.

Gold Fields has awarded their Barren Lands open pit project to establish a new mine at their Agnew Gold Mine, 150km Northwest of Leonora to MLG Oz.

The project will run alongside their current St Ives cooperation.

MLG founder and managing director Murray Leahy said “we are very proud to continue to support Gold Fields at their St Ives and Agnew operations extending what has, and continues to be, a long and rewarding relationship.”

Metal Hawk Limited has announced diamond drilling at their Berehaven Nickel Project has commenced.

The project, located 20km Southeast of Kalgoorlie Boulder, continued after high grade nickel sulphide was discovered in the area last year.

Minerals Resources is offering starting salaries of over $140,000 to New Zealanders in an entice them to Perth. The campaign is set to see several hundred New Zealanders over the next 6 months.

 

 

The S&P/ASX200 stumbled slightly on Monday before recovering to start the month on a high of 7,372 points yesterday. The markets finished off the week on 7,302 points, dropping 0.72% from yesterday.

The All Ordinaries peaked at 7,572 points yesterday, finishing at 7,504 points today.

 

 

Gold was relatively stable at the start of the week, before picking up on Wednesday to finish the week at the biggest high since August at $1,802.25USD/oz.

Silver followed suit, starting stable before reaching the biggest high since June at $233.04USD/oz.

Posted on

What You Missed This Week in the News

BHP has offered Oz Minerals a takeover offer of $28.25/share, including $9.6B, three months after their initial unsolicited offer.

BHP offered a$25/share, $8.4m takeover offer in August, which Oz Minerals rejected, saying it failed to properly value the company’s portfolio.

The offer comes after the two renewed talks on Thursday, and Oz Minerals board have accepted the offer, OZ Minerals Managing Director and Chief Executive Officer, Andrew Cole said: “BHP’s Revised Proposal is a clear reflection of OZ Minerals’ unique set of highly strategic, quality assets in quality jurisdictions. We look forward to working with BHP in a collaborative way to progress the Revised Proposal in the best interests of OZ Minerals’ and its stakeholders.”

 

MetalsGrove Mining has announced that drilling contractor Topdrill has mobilised its drill rig in preparation to commence the inaugural drilling at their Upper Coondina Lithium Project.

The project is located 100km south of Marble Bar, near Port Hedland.

 

Town of Port Hedland

BHP, Curtin University and Greening Australia have partnered to trial vegetation barriers to improve air quality and capture dust in the West End scheme in Port Hedland as part of BHP’s Pilbara Air Quality Program.

Phase 1 which involved planting 80,000 seedlings, has been completed and another 80,000 is scheduled to be planted in the next few months.

 

The ”What’s Down the Track” Forum was held in Kalgoorlie Boulder on Thursday. The event, run by the Kalgoorlie-Boulder Chamber of Commerce, provides a 12-month forecast into the drivers that support the growth and opportunities that exist within the region.

The event included speakers and exhibitions from BHP, Kai Rho Contracting, Deep Yellow Limited, St Ives, Northern Star, Lynas Rare Earths, Evolution Mining and Epiroc.

 

Kalgoorlie-Boulder Chamber of Commerce

The S&P/ASX200 markets stumbled at the beginning of the week, starting off on the month’s high of 7,196 points before falling to 7,106 points on Wednesday. The markets made a comeback to finish the week at 7,152 points. Oz Minerals was the top performing stock, up 3.92% after their takeover offer from BHP.

The All Ordinaries us up too, finishing the week on 7,355 points.

 

Gold is trading at $1,765.52USD after a stable week, and silver at $21.35USD, after peaking early on Tuesday at $22.28USD.

Posted on

What you missed in the news this week 4 Nov 2022

Rox Resources announced a 110% increase of production to 187koz Au since 2018.

The increase is at their Mt Fisher and Mt Eureka gold projects in the Eastern Goldfields.

Rox Resources

 

Rio Tinto and BHP have joined forces to for research into technology to increase water recovery from mine tailings.

They are currently trialling a large-volume filter unit to remove up to 80% of water in the trailing stream before it is deposited in a storage facility.

Removing more water would reduce risks associated with moisture in storage facilities, reduce the foot print of these facilities and allow them to productively reuse tailings are raw material.

 

After unsuccessfully suing the Western Australian Government, Clive Palmer is trying again, planning to sue the Commonwealth for billions in damages over his stalled iron ore mine in the Pilbara.

Palmer plans to bring the claim under the international courts through his Singapore-based company Zeph International.

If Palmer is successful, tax payers can expect to foot the bill of upwards of $32B.

 

Classic Minerals has commenced construction on their new Kat Gap gold mine, south of Southern Cross.

Classic Minerals has begun building internal roads and clearing space for the camp but has yet to receive processing approval.

They are hoping to have stage 1 open-pit mining before the end of the year.

 

Swedish company, Epiroc, has agreed to acquire Kalgoorlie Boulder company, Remote Control Technologies Pty Ltd.

RCT was founded 50 years ago and provides automation solutions to mining companies.

RCT is the second Kalgoorlie Boulder company acquired by Epiroc this year, after their acquisition of JTMEC earlier in the year.

The acquisition is expected to be completed by the end of the year.

Courtesy of Epiroc

MLG celebrates 20 years this week. The Kalgoorlie Boulder based company started with founder and managing director Murray Leahy and his truck to a business that services 29 sites across Western Australia and the Northern Territory.

 

S&P/ASX 200 peaked this week on Wednesday at 7,009.00 points, before taking a sharp fall to 2,849 points on Thursday. The markets rounded out the week at 6,893 points.

 

ASX

 

All Ordinaries followed suit this week, peaking on Wednesday at 7,194 points before plummeting to 7,015 points. The All Ords finished the week at 7,089 points.

 

Gold is sitting at $2,600.28oz t today, making a solid comeback from Tuesday’s fall. Gold is sitting at a similar position to how October started the month, with $2,567.36oz t on 3rd October.

Silver finished off at $31.48oz t, finishing a little lower than yesterday’s $31.05oz t.