News

Two weeks before Ivan Glasenberg was to shock investors by hinting at his early departure from Glencore, the world’s most powerful commodity trader, last November, he was in Australia (reports London’s Daily Telegraph). On that trip, Glasenberg met Jean-Sébastien Jacques, the chief executive of mining giant Rio Tinto, and Scott Morrison, the Australian prime minister in Sydney.

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More evidence that Rio is on to something special puts spotlight back on Winu nearology juniors Antipa and Sipa. Plus, Euroz barracks hard for Legend’s WA nickel-copper discovery

Rio Tinto hasn’t been messing around at its remote Winu copper-gold discovery in Western Australia’s Paterson province. Its latest exploration licence expenditure report, filed under the WA Mining Act, shows Rio spent a massive $79.6 million on the project in the 12 months to October 12, not including the cost of a gravel airstrip.

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Whether it’s going long or short, the iron ore market is not for the faint-hearted, as its latest unexpected rise shows. And the coming year is likely to see more of the same, while copper looks set for good gains.

Iron ore wasn’t supposed to be the star commodity of 2019 but thanks to a shortfall in Brazilian production and stronger than expected Chinese demand, that’s how it turned out, and next year could be just as interesting, though perhaps with a “back-to-the-future” twist. The performance of iron ore, and a strong year for gold, were coloured by a terrible 12-months for battery metals and a roller-coaster ride for nickel, leaving open the critical question of what’s best for 2020 –with copper the early favourite.

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Northern Star has been the most celebrated Australian domiciled gold producer of recent times. But it has to be said it has not exactly shone brightly since its shares topped out at A$14.06 back in late July (writes Barry FitzGerald on MiningNews).

Northern Star has been the most celebrated Australian domiciled gold producer of recent times. But it has to be said it has not exactly shone brightly since its shares topped out at A$14.06 back in late July (writes Barry FitzGerald on MiningNews). The shares are now back at a more sedate $9.94. That's a nice enough year-to-date gain of 7.5% but when the late July record price is taken as its starting point, NST is found to be wanting with a near 30% value hit.

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Mincor has completed another milestone in its efforts to restart mining from its Kambalda nickel operations after securing key State Government approvals for its greenfields Cassini project (reports The West Australian).

Mincor has completed another milestone in its efforts to restart mining from its Kambalda nickel operations after securing key State Government approvals for its greenfields Cassini project (reports The West Australian). The company, led by David Southam, is now fully permitted for Cassini as well as its brownfields Durkin North and Long sites.

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Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews).

Chalice Gold Mines says it has the balance sheet to think big on the discovery front (reports MiningNews). The company has A$30 million in working capital and investments due to savvy project sales, and has not raised capital since 2011. Chalice's flagship project is the Pyramid Hill project in Victoria, comprising 5190sq.km in the Bendigo region, where 60 million ounces of high-grade gold has been discovered.

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Experienced resource analysts James Wilson and Matt Keane from Perth-based broking firm Argonaut Securities attended a recent site visit to Red 5’s (ASX: RED) King of the Hills Project (KOTH).

Experienced resource analysts James Wilson and Matt Keane from Perth-based broking firm Argonaut Securities attended a recent site visit to Red 5’s (ASX: RED) King of the Hills Project (KOTH). And they were impressed by what they saw. In a new note, they say the scale of King of the Hills is “bigger than the market perception”, with the project offering numerous “add-ons” to consider over and above the current Feasibility Study (due in mid-2020).

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13th December 2019

Genesis Minerals has signed a farm-in agreement with Kin Mining over the Desdemona South Area, south of Leonora (reports MiningNews). The project sits between Genesis' 760,000 ounce Ulysses deposit and St Barbara's Gwalia mill. The ground includes more than 10km of prospective strike, including the northern extension of the structural corridor that hosts Ulysses. Genesis can earn 60% of the ground by spending A$1 million on exploration within four years. If Kin chooses not to contribute, Genesis could reach 80% by spending a total of $2.6 million.

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