Rivet Mining Services has gone into administration due to extreme weather events, labour shortages, project delays and rising costs.
Mining services, which provides bulk haulage and ancillary onsite services to mining companies in WA, is the only business within the Rivet Group effected.
Chris Hill, Vaughan Strawbridge and Hayden White from FTI Consulting have been made receivers and managers of the company.
Rivet Mining Services
Desert Metals has begun extensive field work at three of its key projects near Meekatharra.
The projects include drilling of a previously untested 15m greenstone belt for gold and other base metals at the Belele project; heritage surveys at the Dingo Pass project; and metallurgical work to determine recovery rates of clay hosted REE mineralisation at the Innouendy project to identify the most cost-effective processing methodology.
Rio Tinto has been the victim of a data hack.
Data on GoAnywhere software regarding former and current employees may have been stollen by hackers who have threatened to release stollen data.
“While investigations into this incident are ongoing and threats have been made by a cybercriminal group to release data on to the dark web, to date none of the records described above have been released, and we still do not know if the cybercriminal group holds these records or not,” a memo to staff said.
Several companies using GoAnywhere have reported data breaches, including Hitachi.
Rio Tinto
Lightning Minerals has identified lithium soil anomalism at its 100% owned Dundas project in WA.
Lightning Minerals CEO, Alex Biggs, said: “Further positive lithium in soil anomalism being identified at our Dundas project again supports our exploration strategy and belief in the region as an emerging lithium and critical minerals district.”
The S&P/ASX200 markets had a turbulent week, falling from 6,974 points o Monday to 6,900 on Tuesday, the market jumped again on Wednesday to 7,030 points before falling to 6,961 points on Thursday then finishing off the week at 6,955 points on Friday.
The All Ordinaries has lost 0.70% over the last 5 days. The market was at its lowest at close on Monday at 7,085 points. The All Ordinaries closed at 7,138 points on Friday.
Gold fell Tuesday afternoon from $1,985.88USD to $1,943.47USD before recovering the remainder of the week to $1,990.70USD on Friday, the highest price since April 2022.
Silver finished at $23.22USD on Friday, the highest it’s been since the start of February 2023.
Roy Hill has awarded a $70m order to Epiroc to automate their mixed fleet, making it the world’s largest autonomous mine.
The contact involves driverless conversion of 96 haul trucks, including 54 Caterpillar and 42 Hitachi trucks, and future trucks.
Roy Hill
MACA has been awarded a mining contract with Atlas Iron at their McPhee Creek project in the Pilbara.
The tree-year project covers mine load and haul of up to 10million tonnes of iron ore per annum, and transportation to Roy Hill for processing.
Thiess Group executive and MACA CEO David Greig said “We’ve been working with Atlas for almost 15 years across our crushing, civil and mining businesses, and I look forward to working with them once again on the McPhee Creek Project.”
Atlas Iron
The West Australian Government and the Korea Institute of Geoscience and Mineral Resources signed a Memorandum of Understanding to research and develop the critical minerals chain.
The MoU was signed by Mines and Petroleum Minister Bill Johnston in the Republic of Korea as part of the State Government’s mission to promote the resource capabilities of WA.
In a statement announcing the partnership, the State Government said the MoU will further strength the relationship between WA and the Republic of Korea following the signing of a historic letter of intent by Mark McGowan on February 1.
“The letter of intent signed with MOTIE (Republic of Korea’s Ministry of Trade, Industry and Energy) recognises our strong strategic partnership with South Korea and charts a course for new opportunities into the future,” McGowan said.
“By signing an agreement with MOTIE, we are establishing a formal relationship to promote economic collaboration in the new energy and downstream processing sectors between Western Australia and South Korea.
The S&P/ASX200 dropped twice this week, dropping 102 points on Tuesday and 131 points on Thursday. The markets finished at 6,995 on Friday. Liontown Resources was the top performing stock on Friday, up 8.20%.
The All Ordinaries lost 161 points over the week, dropping on Tuesday and Thursday.
Gold had a good week, starting at $1,871.04USD, the price steadily increased throughout the week to $11933.43USD, following an upward incline since last week.
Silver had a slightly less stable incline over the week, slightly increasing from $20.80USD to $22.09USD.
Lynas has secured $200m in investments from Japan Australia Rare Earths through a subscription of ordinary shares.
Lynas CEO and managing director, Amanda Lacaze, said “JARE has been a valued and strategic partner to Lynas since 2011 and we welcome these new agreements which better reflect demand forecasts from the Japanese rare earths market.”
Lynas Rare Earths
MinRes has pledged $600,000 over 3 years to the Lion’s Healthy Hearing Outback Program for Aboriginal Children in the Pilbara.
The Lions Healthy Hearing Outback program is run by a conglomerate of health organisations, including Ear Science Institute Australia (ESIA), Rural Health West and the Puntukurnu Aboriginal Medical Service.
“MinRes is proud to partner with Ear Science to help expand this life-changing ear health service into some of Western Australia’s most remote communities,” MinRes managing director, Chriss Ellison said.
“Far too many Aboriginal children experience ear disease and hearing loss, and Ear Science Institute are at the forefront of reducing that devasting burden.”
Mineral Resources
GBM Resources and Novo Resources have signed a sale and Purchase Agreement for GBM to sell its remaining 50% interest in the Malmsbury Gold Project to Novo.
The sale includes cash of $1M plus 4,037,872 Novo Shares, representing $1.45m.
The S&P/ASX200 dropped sharply on Friday, dropping 166.4 points to 7,144.7, setting a 20-day low.
The All Ordinaries followed suit, dropping 166.2 points to 7,348.2 points on Friday.
Gold fell sharply on Wednesday, falling from $1,881.58 to $1,816.17 but recovered slightly on Friday to $1,834.35.
Silver dropped sharply on Tuesday, falling from $21.35 to end the week at $20.24.
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.
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.
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.
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.
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.
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
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.
