News

Picking winners in a flat market is not easy but over the past week there has been a sector swimming against the tide - small oils.

Picking winners in a flat market is not easy but over the past week there has been a sector swimming against the tide - small oils. Once a favorite among Australian investors, and still quite large when you look beneath the dominance of a handful of mega-oilers such as Woodside and Santos, the small oil sector was almost universally up last week when almost everything else was down.

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Mineral Resources has revealed more problems with the much-hyped Wodgina lithium project that is subject to a $US1.3 billion deal with global battery metals giant Albemarle (reports The Australian Financial Review). Chris Ellison-led Mineral Resources said on Thursday that it has suffered significant delays in building the spodumene concentrator at the Wodgina lithium mine, mainly due to having replace faulty valves.

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More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm

More EVs and more nickel in each of them will drive nickel demand through the roof, says the head of BHP’s Nickel West arm. His forecast is great news for those juniors with large nickel deposits awaiting development, such as the Jaguar project just acquired by Centaurus from Brazilian giant Vale. Plus, Venturex’s $100m debt deal sets it up to become one of the few ASX-listed copper producers. The display of oomph at last week’s Diggers & Dealers conference in Kalgoorlie was not restricted to the gold stocks.

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Global financial wobbles reinforced the case for gold this week

Global financial wobbles reinforced the case for gold this week but the uncertainty factor caused by the US sharemarket shake-out put a dampener on most sectors of the market and only a handful of gold miners managed to post gains while just about everything else fell. Surprise star of the week was Dacian Gold, a stock that some investors had written off weeks ago after operational problems at its Mt Morgans mine. It added 14c to $1.26, taking its gain since early June to 87c and putting it within sight of its pre-sell off price of $1.59.

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Electric vehicles, and the wider battery revolution, is held up as a massive opportunity for nickel, tin, graphite and lithium players, and now a new report shines a light on how much copper will be needed: 250% more by 2030. Wood Mackenzie forecasts that over 20 million EV charging points could to be deployed over the next needed, and that means the world needs to produce around 2.5 times more copper by 2030 than it will this year - and that means a lot of money needs to be spent to find and produce it.

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Mincor Resources has signed a long-term agreement with mining giant BHP to supply nickel concentrate (reports The West Australian). BHP’s Nickel West division will process up to 600,000 tonnes a year of nickel sulphide at its Kalgoorlie smelter out to 2025 once Mincor has restarted its operations in December.

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Pilbara Minerals boss Ken Brinsden says the company will tailor its growth plans to match lithium demand

Pilbara Minerals boss Ken Brinsden says the company will tailor its growth plans to match lithium demand (reports MiningNews). An oversupply situation has emerged in the spodumene sector, and Pilbara's Pilgangoora mine in the Pilbara hasn't been immune. Brinsden told reporters at Diggers & Dealers that while chemical converters couldn't ramp up soon enough, changing battery chemistries meant China had fallen behind. "They tinkered with the industry to try and incentivise new technology in lithium-ion batteries," he said.

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The gold price took a knock yesterday when the US central bank delivered half the interest rate cut investors wanted, with the sliding share prices that followed a warning shot for investors making the trek to next week’s Diggers and Dealers conference in Kalgoorlie.

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Upcoming Events

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4th - 5th Jun 2019

Gold Coast Conference

The 2019 Resources Rising Stars Conference was held on Tuesday 4 and Wednesday 5 June 2019 at the scenic RACV Royal Pines Resort on the Gold Coast. 

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