Regis Resources' Duketon Gold Mine Steadies Amidst Rainfall Challenges, Tropicana Ventures Face Production Pressure

Tajha Pritchard
Flooded Road

Despite significant rainfall affecting Regis Resources’ Duketon gold mine, the mine has maintained its projected production for the 2023–24 financial year (FY24).

The Duketon area, along with Laverton, has experienced more than 110mm of rain in March, leading to the temporary closure of roads in the Laverton Shire surrounding the mine.

Regis’ Tropicana joint venture also felt the impact of heavy rainfall, with over 310mm falling over a three-day period.

"Despite the exemplary efforts of our on-site team in managing safety concerns, the heavy rainfall led to the suspension of mining activities and disruptions to power supply," Regis reported.

"The processing plant is currently handling stockpiles and underground feed, while mining from the open pits remains limited."

Road closures between Kalgoorlie and Tropicana have further complicated matters, potentially affecting processing if on-site consumables run out before roads reopen.

Consequently, Regis anticipates quarterly gold production to fall within the range of 90,000 to 95,000 ounces (oz).

"While facing these production challenges, Tropicana is expected to approach the lower end of its annual guidance range," Regis noted.

Nevertheless, the expected gold production of 415,000 to 455,000oz for Duketon remains unchanged, along with planned exploration expenditures of $48 million to $55 million and growth capital investments of $85 million to $95 million.

Exploring Acquisition Opportunities: Ramelius Resources in Exclusive Talks with Karora Resources

Tajha Pritchard
mt magnet open pit mine ramellius

Ramelius Resources is currently engaged in exclusive talks with Karora Resources regarding a potential acquisition deal.

Initial reports on these discussions surfaced in The Australian Financial Review (AFR), indicating Ramelius' willingness to invest between $700 million and $1 billion for the acquisition.

Ramelius has refrained from confirming the mentioned amount, stating that valuation discussions are still ongoing, and no definitive agreement has been reached yet.

In its announcement on the ASX, Ramelius acknowledged Karora's market capitalization, approximately $C841 million, while emphasizing that discussions, especially regarding valuation, are still in progress. The outcome remains uncertain, including whether a transaction will materialize and at what price.

Karora currently operates primary gold production sites, including the Beta Hunt mine, Higginsville gold operations, and the Spargos gold mine in Western Australia, all wholly owned.

With a focus on organic growth, Karora aims for an annual gold production target of 170,000 to 195,000 ounces, funded through its internal resources.

Ramelius, on the other hand, boasts multiple gold operations across Western Australia, notably the Cue project near the Mount Magnet production center. The company expanded its portfolio by acquiring Musgrave Minerals, the former owner of the Cue project, in July 2023.

Empowering Women in Mining: Celebrating International Women's Day in the Mining Services

Tajha Pritchard
international womens day

Today, on International Women's Day, we celebrate the incredible contributions of women across all industries, including the mining sector. From exploration to operations and beyond, women play vital roles in shaping the future of mining services worldwide.

Their dedication, expertise, and leadership are invaluable assets that drive innovation, sustainability, and diversity within the industry. We honor the women who break barriers, challenge stereotypes, and inspire positive change in mining services, paving the way for a more inclusive and equitable future.

Let's continue to support and empower women in mining, ensuring they have equal opportunities to thrive and excel in every aspect of their careers. Together, we can build a brighter and more inclusive mining industry for all. Happy International Women's Day! #IWD #WomenInMining​

Successful Inaugural Gold Pour: Brightstar Resources' Milestone Achievement at Menzies Gold Project

Tajha Pritchard
gold pour

The initial gold bars have been successfully extracted from ore processing activities conducted at Brightstar Resources' Menzies gold project in Western Australia.

Situated on the western edge of the Menzies greenstone belt, approximately 130km north of Kalgoorlie, the Menzies gold project is a significant location for exploration.

Brightstar operates a 50:50 profit-sharing joint venture (JV) with BML Ventures to develop the Selkirk deposit within the Menzies project. Under this agreement, BML Ventures assumes responsibility for all capital expenditures, mining operations, and transportation.

As part of the JV arrangement, there exists a toll treating agreement with Genesis Minerals for the processing of Selkirk ore at the Gwalia plant, which was acquired by Genesis through its purchase of St Barbara's Leonora assets last year.

Alex Rovira, Managing Director of Brightstar, expressed excitement over the milestone achievement, stating, "We are pleased to announce the inaugural gold pour from the Menzies gold project, with 38.7kg of gold doré poured at the Gwalia gold plant yesterday."

He further added, "Our JV partner, BML Ventures, has confirmed the successful transportation of all ore to Gwalia, while the demobilization of project infrastructure and fleet is progressing as scheduled."

Rovira emphasized the commitment to safety and professionalism in conducting the Selkirk Mining JV, highlighting that gold revenues will be equally divided on a 50:50 basis following project cost reconciliations.

He concluded by noting the anticipation of additional gold pours in the coming weeks and assured stakeholders of forthcoming updates on cashflow once all gold revenue and project costs are finalized for the Selkirk Mining JV.

Unveiling BHP's Copper Discoveries: Oak Dam Exploration

Tajha Pritchard
Image: Phawat/stock.adobe.com

BHP's exploration program at its Oak Dam copper deposit has uncovered significant high-grade copper reserves located deep beneath the Olympic Dam ore body, with some grades surpassing two percent.

Situated 65km southeast of the Olympic Dam mine in South Australia, the Oak Dam deposit adds to the region's rich resources, which include copper, gold, and uranium.

Following the completion of its acquisition of OZ Minerals in May last year, BHP consolidated its presence in South Australia's far north, integrating the Prominent Hill and Carrapateena mines with the Olympic Dam mine, smelter, refinery, and Oak Dam deposit into a cohesive copper province.

Anna Wiley, BHP's asset president for copper in South Australia, emphasized the strategic importance of this integration in enhancing the economic and sustainable production and processing of copper for global markets.

Progress continues at Oak Dam, with 12 drilling rigs currently active on-site, having completed 150 kilometers of drilling. Additionally, infrastructure including a core processing facility and a 150-person accommodation camp are nearing completion. Exploration efforts extend to the Olympic Dam Deeps, situated beneath the known Olympic Dam deposit.

In parallel with exploration activities, BHP is evaluating options for a new two-stage smelter at Olympic Dam, potentially doubling its capacity to 1–1.7 million tonnes and boosting copper production to approximately 500,000 tonnes per annum.

The South Australian Government, having approved the Oak Dam exploration program, welcomes the discovery as a significant development aligned with the state's prosperity goals. Premier Peter Malinauskas highlighted the potential for job creation and economic growth, emphasizing the importance of water availability for resource extraction and refinement.

BHP's CEO, Mike Henry, shared updates on the potential two-stage smelter at Oak Dam during the BMO Global Metals, Mining, and Critical Minerals Conference. A final investment decision for the smelter is anticipated between the 2025–26 and 2026–27 financial years.

Newmont's Strategic Moves: Divestments, Acquisitions, and Future Prospects

Tajha Pritchard
gold nugget

Newmont has announced its intention to divest six gold mines and two gold projects, with two of the projects located in Western Australia.

The mines set for divestment include Éléonore, Musselwhite, and Porcupine in Canada, the Cripple Creek and Victor mine in the US, the Akyem mine in Ghana, and the Telfer mine in Western Australia, the latter being acquired from Newcrest in November of last year.

Additionally, Newmont plans to sell its 70% stake in the Havieron project in Western Australia, with the remaining 30% owned by Greatland Gold. The company also intends to divest the Coffee project in Canada.

According to Newmont's president and CEO, Tom Palmer, these divestments are occurring because the assets do not meet the company's Tier-1 criteria, despite being valuable assets managed by capable teams.

Interest from potential buyers has already been noted by Newmont for these assets.

The announcement of the divestments coincides with the release of Newmont's full-year report for 2023, which outlines a positive outlook following the conclusion of the Newcrest acquisition. The company reported production of 5.5 million gold ounces and 891,000 gold equivalent ounces from various metals in 2023, aligning with its revised guidance after incorporating Newcrest's assets.

Despite a net loss primarily due to impairment charges, reclamation charges, and integration costs related to the Newcrest acquisition, Newmont declared an increase in total reserves and resources.

Looking ahead, Newmont aims to integrate and enhance its portfolio of Tier-1 assets for continued growth. It plans to reduce debt by $1 billion in 2024, alongside identifying $500 million in cost and productivity improvements.

Palmer emphasized the company's stable production and reinvestment strategy for the year, positioning it well to meet its commitments in 2024 and beyond. Newmont expects its 2024 production to reach approximately 6.9 million ounces, supported by its Tier-1 Portfolio contributing 5.6 million ounces.

Why Candidates Should Consider Using Mining Employment Services Recruiters in Their Job Search

Tajha Pritchard
atricle

Are you a job seeker navigating the competitive landscape of employment opportunities in the mining industry? Have you considered enlisting the support of the Recruiters from Mining Employment Services in your quest for the perfect position? Here are three 3 reasons why you should leverage the expertise of our recruiters in your job search:

  1. Access to Hidden Job Market: Our recruiters at Mining Employment Services often have access to job openings that are not publicly advertised. These positions, often referred to as the "hidden job market," can make up a significant portion of available opportunities. Companies often choose to work exclusively with our recruiters to fill certain roles, relying on their expertise to find suitable candidates. By partnering with a us, you gain access to these hidden opportunities, expanding their job search beyond what's visible on job boards or company websites.
  2. Personalized Guidance and Support: Navigating the job market can be daunting, especially when seeking specific roles or industries. Our recruiters offer personalized guidance and support throughout the entire job search process. From assisting with resume writing and interview preparation to negotiating job offers, we provide valuable insights and assistance tailored to each your unique needs and career goals. Our expertise in the hiring process and industry knowledge can significantly enhance a your chances of securing the right job opportunity.
  3. Networking and Industry Connections: ​Our recruiters have extensive networks and connections within specific industries or sectors. By working with a us, you​ can tap into these networks, gaining access to valuable industry contacts and insights. We introduce you to hiring managers, decision-makers, and other professionals who may not be easily accessible through traditional job search methods. Building relationships with industry insiders can open doors to new opportunities and career advancement possibilities.

In conclusion, candidates stand to benefit greatly from utilizing the services of recruiters in their job search endeavors. From gaining access to hidden job opportunities to receiving personalized guidance and tapping into valuable industry connections, we play a pivotal role in helping you navigate the complexities of the job market and secure their desired positions. If you're a candidate looking to take your job search to the next level, consider partnering with a us to maximize your chances of success.​

 

Process Technicians Required

Tajha Pritchard
job advert

MES is actively looking for Process Technicians with flotation experience to join our mid tier gold clients operation. For further details, please contact Liz Spencer or Domenic Olimpio on 6467 4814 or 6467 4811.

Nickel Designated Critical Mineral: Unlocking Relief for Industry Amid Downturn

Tajha Pritchard
open pit nickel mine

Federal Resources Minister Madeleine King has designated nickel as a critical mineral, unlocking access to billions of dollars in relief for nickel companies.

Since the last update of the critical minerals list on December 16 last year, several nickel facilities have either reduced operations or entered care and maintenance. Among those affected are Andrew Forrest’s Wyloo, IGO, First Quantum Minerals, Chalice Mining, and Panoramic Resources.

BHP recently announced the closure of part of its Kambalda processing operations, and it's contemplating placing its Nickel West operations into care and maintenance, potentially jeopardizing thousands of jobs.

However, the inclusion of nickel on the critical minerals list means companies can now access financing through $4 billion in critical minerals grant programs, including the $40 million international partnerships program. Such grants could help operators navigate the nickel downturn and prevent closures.

Minister King acknowledged the significant challenges facing the nickel industry, with low international nickel prices expected to persist until the market surplus is addressed.

The decision to classify nickel as a critical mineral follows a roundtable discussion led by Minister King and Western Australian Minister for Mines David Michael, where industry challenges were addressed. Both federal and state governments committed to expediting nickel taxation and royalties incentivization.

WA Premier Roger Cook announced a 50% royalty relief program if the average price of nickel concentrate falls below $US20,000 per tonne, with companies required to repay the rebate in equal quarterly installments over 24 months.

AMEC CEO Warren Pearce welcomed the addition of nickel to the critical minerals list and the relief packages but emphasized the need for further action, suggesting the introduction of a Production Tax Credit (PTC) similar to the one in the United States. This, he argued, would ensure Australia remains competitive in the global energy transition.

Greatland Gold Successfully Completes Exploration Program at Ernest Giles Project

Tajha Pritchard
map

Greatland Gold plc (AIM:GGP) is delighted to announce the successful completion of the WA Government Exploration Incentive Scheme (EIS) co-funded drilling program at the Meadows gold prospect within the Company's 100% owned Ernest Giles project (Ernest Giles).

Key Highlights:

  • Two diamond core (DD) holes were drilled, totaling 1,267.7 meters.
  • EGD006 returned anomalous mineralization of 8 meters at 0.12g/t Au from 316 meters, associated with alteration and anomalous pathfinder geochemistry.
  • The drilling results provide crucial geological and structural information for planning a systematic reverse circulation drill program scheduled for this year to test highly prospective targets at Meadows prospect.
  • A ground induced polarization (IP) survey is planned for later in 2024 to further refine targets, along with additional airborne geophysics.

Greatland's Managing Director, Shaun Day, commented:

The completion of the Land Access Agreement and EIS co-funded drilling at Ernest Giles marks a significant milestone for the project, representing the first on-ground exploration in over five years."

"Ernest Giles is an exciting 100% owned project situated outside our strong foothold in the Paterson region, in an underexplored Archean greenstone belt known to host many Tier 1 deposits."

"These initial results are encouraging and confirm the prospectivity of the project. The results will inform further exploration work, including a more extensive drilling program this year."

Completed Drilling Program:

The two completed EIS co-funded diamond core drill holes, EGD005 & EGD006, provided critical geological understanding of the project and guided future targeting. Gold anomalism was confirmed to be hosted within altered basalts, banded iron formation (BIF), and syenite.

The results suggest encouraging broad, weak (Au-Ag-Cu-Zn) mineralization, possibly indicating the edge of a larger system. Further drilling will utilize this information to better target mineralized areas.

Follow-up RC Drilling Program and IP Survey:

A follow-up RC drilling program is planned for H2 2024, utilizing information gained from the recent drilling to systematically test highly prospective geological targets at Meadows prospect.

A detailed ground IP survey is also planned for later in 2024 to refine targeting approaches. This survey will help identify sulphide haloes around orebodies, providing cost-effective identification of mineralization.

Project Location and Tenure:

The Ernest Giles project is located approximately 250km north-east of Laverton and covers a folded belt of magnetic greenstone rocks typical of the highly gold and nickel endowed parts of the Archean Goldfields of Western Australia.

Greatland's tenure at Ernest Giles comprises a comprehensive holding over the most prospective near-surface portions of the Ernest Giles belt, covering more than 1,950km2.