News

Gold Road Resources has provided an update on the continued rain impacts affecting the Gruyere joint venture, shared with Gold Fields.

In early March, the gold miner bravely persevered through adverse weather, processing stockpiles at the site despite enduring six months’ worth of rain in less than two weeks.

However, recent developments have brought further challenges. Between March 19–28, the region experienced another bout of “significant and atypical” rainfall, impacting access roads to Gruyere.

Fortunately, the processing of low-grade stockpiles managed to continue for most of this rainy period. Yet, plant operations were halted from March 28 onwards, with a scheduled maintenance shutdown expedited to mitigate disruptions to annual gold production.

The closure of the main supply route to Gruyere, the Great Central Road, since March 5, due to extensive flood damage, has significantly hindered mining activities for the March 2024 quarter.

In collaboration with the Laverton Shire, Yilka, and other local communities, the Gruyere JV has mobilized resources to expedite repairs to the Great Central Road, utilizing earthmoving equipment and personnel from Gruyere.

However, repairs to the flooded sections are expected to be time-consuming. Operations at Gruyere are forecasted to resume in the first week of April.

Despite the prolonged impact of these rainfall events, Gold Road maintains its 2024 annual guidance for Gruyere, with anticipated gold production falling within the lower half of the guidance range of 300,000 to 335,000 ounces (150,000 to 167,500 ounces attributable). Additionally, attributable all-in sustaining costs (AISC) are expected to fall within the upper half of the range between $1900 and $2050 per ounce.

Bellevue Gold has uncovered a vein of ore at its Deacon deposit in Western Australia, boasting exceptionally high grades that surpass initial resource estimates. This discovery echoes the characteristics of other high-grade pyrrhotite-bearing deposits historically mined nearby at the Bellevue load.

The Deacon deposit, one of the primary production zones within the Bellevue gold project, has yielded promising results. According to Bellevue's managing director, Darren Stralow, these findings resonate with the rich legacy of high-grade gold in compact structures historically associated with the Bellevue mine.

The latest infill drilling has exceeded expectations, showcasing grades that outstrip the initial resource estimates. This high-grade ore discovery promises to enhance the early stages of mining operations, ensuring robust production results as the project progresses towards full-scale production.

Furthermore, Bellevue is enthusiastic about the potential for additional discoveries along the Deacon shear, which presents multiple analogous targets for further exploration through underground drilling. To expedite this process, Bellevue is mobilizing additional resources, including another underground drill rig, to intensify infill drilling efforts at Deacon Main in pursuit of similar success.

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.

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.

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​

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.

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 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.

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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.​

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.