Archived News for Industry Professionals

Australia’s largest gold miner, Newcrest Mining has reported an underlying profit of $611 million for the half year to December, 17% higher than for the same period last year.

Gold sales volumes of 1,218,242 ounces were 1%higher than the corresponding prior period, while copper sales volumes were 8% higher and silver sales volumes 26% higher.

The company reported total capital expenditure of $1,254 million for the half year, with major expansion projects including Cadia East ($1.9 billion) which is more than 65% complete and Lihir’s US$1.3 billion Million Ounce Plant Upgrade (MOPU) which is more than 70% complete.

Rio to invest $3.17 billion in iron ore operations

Mining giant Rio Tinto has announced it will commit a further $3.17 billion to the major expansion of its Pilbara iron ore operations in Western Australia.

Senex continues Cooper Basin western flank drilling program

Senex Energy Limited, 60% owner and operator of the PRL 15 joint venture, has commenced drilling at the Growler-8 appraisal well in South Australia.

Growler-8 is the seventh well in the joint venture’s 11-well drilling program in PRL 15 and PEL 104, comprising five appraisal wells and six exploration wells targeting the Birkhead channel play on the western flank of the South Australian Cooper Basin.

The well is located on the western limb of the Growler oil field, 1,200 metres to the west of the Growler-1 discovery well and 600 metres southwest of Growler-7.

The Growler-8 appraisal well will seek to extend the mid-Birkhead channel reservoir encountered in the nine Growler wells drilled to date, seven of which are now in production. The well will also examine the potential of the lower Birkhead channel sand prognosed to be developed at this location.

The other partner in the joint venture is Beach Energy Limited, which holds a 40% interest.

High hopes for Core as drilling begins on Yorke Peninsula

Core Exploration has announced it will begin its diamond drilling program on the Yorke Peninsula minerals project in South Australia with the arrival of two diamond drill rigs at the site.

Core’s Managing Director, Stephen Biggins, said the commencment of the program followed extensive lead-up exploration work on the Yorke Peninsula project since the company listed on the Australian Securities Exchange 12 months ago.

The diamond drilling program comprises a total of 2000-2500 metres of drillingh, with holes to drill in excess of 100m into the basement target rocks.

“Our substantial set of six drill targets are coincident with the 12km long Palace structural zone within the company’s Yorke Pensinsula tenement. The sieable gravity feature have an inconsistent magnetic character which fits well with Core’s interpretation of these drill targets as structurally controlled, dense, IOCG (Iron Oxide Copper Gold) alteration with fluctuating magnetite and hematite content.”

Core’s large-scale gravity and magnetic drill targets are hosted in an analogous geological setting to Rex Minerals’ Hillside Project(inferred and indicated resource of 217Mt at 0.7$ copper and ).2%g/t gold) on the adjacent tenement.

Mr Biggins said that drilling will take approximately one month to complete, with first assay results expected to be reported in April.

“Our geologists will be looking at the new drill core for the same style of mineralisation and alteration as seen nearby at Rex’s Hillside discovery.”

Theiss wins QGC contract

Construction giant Theiss has won a $325 million contract from coal seam gas explorer and producer QGC to construct gas-processing facilitates for the Queensland Curtis LNG Project (QCLNG).

Low carbon oil researcher wins RACI medal

Professor Thomas Maschmeyer, Professor of Chemistry and ARC Future Fellow at the University of Sydney, has been awarded the Royal Australian Chemical Institute’s 2011 Applied Research Medal For his work on catalysis and sustainable processes, including developing methods to create low carbon crude and heavy fuel oil substitutes.

SA launches resources discussion paper

The South Australian Government has launched a discussion paper with an aim to ‘allow South Australians a voice in building future investment in key nation-building projects’.

Mining drives job advertising

ANZ has released its Job Advertisement Series for January, finding that the number of advertised places has boomed in the country’s mining states, while recording a stablising of advertisements in non-mining regions.

Theiss wins $1 billion mining contract

Theiss has announced it has won a six-year mining contract to extend mining operations at OZ Mineral’s Promionent Hill Copper and Hold Mine in South Australia.

Downer EDI wins $570m Karara Iron Ore contract

Downer EDI Limited has been awarded a six year magnetite mining contract with Karara Mining Limited (KML) for the provision of services at the Karara Iron Ore Project in Western Australia.

ERA report: losses up, production down

Embattled uranium miner, Energy Resources of Australia (ERA) has released its full year results, delivering a $154 million loss for 2011 and a downgrade in its production guidance.

BHP commits to Port Hedland harbour expansion

BHP Billiton has announced it has approved $855 million in funding for the initial works at its Port Hedland harbor facilities.

WA announces Pilbara wastewater contract shortlist

The Western Australian Government has announced two shortlisted proponents to deliver a suite of major projects to improve and secure vital wastewater infrastructure in the Pilbara region.

WA mining minister announces retirement

The Western Australian Minister for Mines and Petroleum, Fisheries and Electoral Affairs Norman Moore has announced his decision to not seek pre-selection by the Liberal Party for the next State Election due in March 2013.

Xstrata issues McArthur draft EIS

Mining giant Xstrata has released a draft Environmental Impact Statement (EIS) for its planned $270 million expansion of its McArthur River Mining (NRM) operations, with the company saying the project will ‘deliver more benefits for the Northern Territory than first thought’.

New mobile mine gas laboratory to protect Queensland mines

The Queensland Government’s Safety in Mines Testing and Research Station (Simtars) has developed a fully automated mobile mine gas laboratory that can be rapidly deployed in the event of a mine emergency.