January 2019 - The Australian Mining Review

January 2019 - The Australian Mining Review
                                      THE AUSTRALIAN


JANUARY 2019                                                             australianminingreview.com.au                                     A product of
                                                                                                                                           Publications & Exhibitions Australia Pty Ltd

   COMMODITY                                                     RECORD                                                  TONY BELPERIO
   FOCUS:                                                        AFTER                                                   MINOTAUR
   GRAPHITE                                                      RECORD                                                  EXPLORATION

  NEWS                                                           GEMCO                                                   IN THE SPOTLIGHT
  p20                                                            p42                                                     p62

                                   MAJOR COMMODITIES SNAPSHOT p4

 Image: Alliance Mineral Assets.

                                     The owners of the Bald Hill lithium mine in WA – Tawana Resources and Alliance Mineral
                                        Assets – have merged to elevate their status in the global battery metals market.

                                                                     FEATURE p22

                                                                                                                                          08 9454 2699
                                                                                                                                          Ross 0448 944 282

                                                    ON TIME, IN NO TIME, EVERY TIME.                                                      Brad 0488 944 262
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                                                    Whatever the time, no matter what it is, or where it’s going, we will get it there.
                                                                                                                                          Danni 0418 944 282
January 2019 - The Australian Mining Review
2           CONTENTS
                                                                                                                                     JANUARY 2019
                                                                                                  THE AUSTRALIAN MINING REVIEW


                                                                                        PUBLISHED BY
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                                                                                                  A product of

Explorers on the Move                        10                                                   Publications &
                                                                                                  Exhibitions Australia Pty Ltd
The Contractors                              12
                                                                                        GENERAL MANAGER
Technology & Innovation                      14                                         Brad Francis
International                                16
                                                                                        MANAGING EDITOR
Projects Update: 2019                        18                                         Elizabeth Fabri
Commodity Focus: Graphite                    20
                                                                                        Amy Blom

FEATURES                                                                                Emma Davies
Bald Hill Lithium Mine                       22
                                                    Fitzroy Australia Resources p26     GRAPHIC DESIGNER
St Barbara                                   24                                         Charlotte Lufino
Fitzroy Australia Resources                  26
                                                                                        SALES EXECUTIVE
Aeris Resources                              29
                                                  GOING FOR                             Penny West, Biliana Harman
Greenbushes Mine

Newmont Tanami

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Companies Gearing Up		                       44              Newmont Tanami p35         1st October 1974. All advertisers and advertising agents
                                                                                        are directed to carefully study the provisions of the Act,
                                                                                        which contain strict regulations on advertising.
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4WD Training		                               46                                         or commerce, in conduct deemed “misleading
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                                                  PILOTING FOR
Communications Solutions                     47                                         connection with the promotion, by any means, of the
                                                                                        supply or use of goods or services:
                                                                                        (a) falsely represent that goods are of a particular
Cranes & Lifting Solutions                   49                                         standard, quality, value, grade, composition, style or
                                                                                        model or have had a particular history or particular

                                                                                        previous use; (b) falsely represent that goods are new;
                                                                                        (c) represent that goods or services have sponsorship,
Dredging Solutions                           51                                         approval, performance characteristics, accessories,
                                                                                        uses or benefits they do not have; (d) represent that the
                                                                                        corporation has a sponsorship, approval or affiliation
Dust Control                                 55                                         it does not have; (e) make a false or misleading
                                                                                        representation with respect to the price of goods or
                                                                                        services; (f) make a false or misleading representation
                                                                                        concerning the need for any goods or services; or (g)
Excavators & Earthmovers                     58                                         make a false or misleading representation concerning
                                                                                        the existence, exclusion or effect of any condition,
                                                                                        warranty, guarantee, right or remedy.
Ice Machines                                 59
                                                                                        For an individual — $10,000 or six months imprisonment
Plastic Fabrication                          60                                         For a corporation — $50,000. It is not possible for this
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                                                                                        responsibility must, therefore, be on the person,
                                                                                        company or advertising agency submitting the
                                                                                        advertising for publication. In case of doubt, consult
                      IN THE SPOTLIGHT:                                                 your lawyer.

                      MINOTAUR EXPLORATION
                      EXECUTIVE DIRECTOR
                      BUSINESS DEVELOPMENT
                      TONY BELPERIO p62                      Arafura Resources p37

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January 2019 - The Australian Mining Review
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January 2019 - The Australian Mining Review
                                                                                                                                                            JANUARY 2019
                                                                                                                                   THE AUSTRALIAN MINING REVIEW

    GOLD                                                           $US/oz     IRON ORE                                                           $US/t
                                                                                                                                    62% Fe CFR China
                           1260                                               76
                                                                                                               75.27                 The iron ore price
    Gold prices hit a      1250                                               74
    five-month high of                                                                                                               suffered losses
    $US1250 per
                           1240                                               72                                                     during the month,
    ounce in early
    December due to a
                                                              1248.72         70
                                                                                                                                     sparked by further
                                                                                                                                     signs of a
                           1220                                                      70.49
    weaker US dollar,                                                         68                                                     slowdown in
    but later fell amid    1210                                                                                                      Chinese steel
                                                        1203.94               66                                                     production early in
    Brexit vote            1200
    uncertainty.                                                              64                                                     December.
                           1180                                               62
                                    Oct               Nov          07-Dec                Oct              Nov            07-Dec

    COPPER                                                          $US/t
                                                                  LME Price
                                                                              COBALT                                                             $US/t
                                                                                                                                             LME Price
                           6350                                               70000
                                      6325.06                                             62499.95
    Copper prices          6300                                                                                                      Cobalt enjoyed a
    climbed above                                                                                                                    modest price
    $US6300/t in           6250
                                                              6172.94         50000
                                                                                                                                     rebound following
    December before                                                                                                                  a month of slow
    slipping back down     6150
                                                                                                                       55250.05      trades and
    to $US6172/t as                                                           30000                                                  aggressive buyer
    Chinese import         6100                                                                                                      bidding.
                                            6083.44                           20000
    data strengthened      6050
    worries about          6000                                               10000
    demand growth.
                           5950                                                      0
                                    Oct           Nov              07-Dec                  Oct                Nov         07-Dec

    ALUMINIUM                                                       $US/t
                                                                  LME Price
                                                                              ZINC                                                               $US/t
                                                                                                                                             LME Price
                           2060                                               2750
    Aluminium prices
                                      2045.01                                                                                        Zinc rose on
    rallied slightly in    2020                                               2700       2677.07                                     persistent supply

    December but                                                                                                                     tightness and
                           2000                                               2650
    analysts remain        1980                                                                                                      positive trade talks
    cautious,              1960                                               2600                                                   between the US
    forecasting global                                                                                                               and China, having
    oversupply during                       1933.89                           2550                                                   picked up from an
    the first quarter of                                                                                  2548.10                    overall decline in
    2019.                  1900                                               2500                                                   metals prices in
                           1880                                                                                                      November.
                           1860                                               2450
                                    Oct           Nov              07-Dec                 Oct              Nov            07-Dec

    LEAD                                                            $US/t
                                                                  LME Price
                                                                              NICKEL                                                             $US/t
                                                                                                                                             LME Price
                           2060                                               13000
                                2037.07                                                        12710.09
    The lead price saw     2040                                                                                                      Nickel prices
                           2020                                               12500
    some recovery in                                                                                                                 continued to
    mid-November,          2000
                                                              1964.98         12000                                                  tumble in line with
    reaching a                                                                                                                       declining Chinese
    three-month high       1960                                               11500
                                                                                                   11290.09              10815       steel demand.
    of $US2000/t           1940                                               11000                                                  Analysts anticipate
    before settling at     1920                                                                                                      the downward
    the $US1964 mark       1900                                               10500                                                  trend will continue
                           1880                 1910.09
    mid-December.                                                             10000                                                  into 2019.
                           1840                                                9500
                                  Oct             Nov              07-Dec                  Oct                Nov         07-Dec

January 2019 - The Australian Mining Review
January 2019 - The Australian Mining Review
6           NEWS
                                                                                                                                                                                                        JANUARY 2019
                                                                                                                                                                            THE AUSTRALIAN MINING REVIEW

IN BRIEF                                      Kidman settles Mt Holland dispute
EPA approves
Mt Keith project

THE        Environmental         Protection
Authority (EPA) has approved BHP
Billiton Nickel West’s proposed Mt Keith
Satellite project near the existing Mt
Keith nickel operation, 80km north of
   The proposed mine would produce
about 9.6 million tonnes of nickel ore a
year for potential use in lithium batteries
and was expected to extend the life of the
Mt Keith nickel operation by 12 years.
   “Nickel       West         demonstrated
appropriate engagement with traditional
owners during the design of the mine
site and developed suitable management
procedures for impacts to flora and                                                                                                                                                      Image: Kidman Resources.
vegetation including avoidance of             Mt Holland’s Earl Grey resource is one of the world’s most significant hard rock lithium deposits.
clearing in the Wanjarri Nature Reserve,”
EPA chair Dr Tom Hatton said.                                                                            owner’s expenditure shortfall was $102,771,             director and chief executive Martin Donohoe
                                              ELIZABETH FABRI
                                                                                                         which it said “was not material in the                  said.
Refinery                                      WA
                                                                                                         context of the opportunity that the Mt
                                                                                                         Holland project represents for all relevant
                                                                                                                                                                     Kidman said the specific terms of the
                                                                                                                                                                 settlement were confidential and “not
expansion to                                  KIDMAN Resources and Sociedad Quimica
                                              y Minera de Chile’s (SQM) Mt Holland JV
                                                                                                            On 10 December, the miner executed a
                                                                                                                                                                 material” to Kidman.
                                                                                                                                                                     In June, Kidman made headlines as the
                                              project has the green light to move forward
boost economy                                 now a dispute over key tenements has been
                                                                                                         deed of settlement with the objectors which
                                                                                                         “resolved the matter completely”, and all
                                                                                                                                                                 first Australian miner to sign an offtake
                                                                                                                                                                 agreement with Elon Musk’s Tesla.
                                                                                                         forfeiture applications would be dismissed.                 The binding agreement would see
QLD                                              The dispute involved 13 key tenements                      “With the settlement concluded, funding              the miner supply lithium hydroxide to
                                              at the project, where insufficient capital                 secured through to final investment decision            the electric vehicle maker over an initial
A $300 million expansion of the Sun           had been invested in site exploration under                and our recent lithium hydroxide offtake                three-year term on a fixed price, take-or-pay
Metals Zinc Refinery (SMC) is set to          Government regulations before Kidman                       agreements with Tesla, Inc. and Mitsui                  basis.
bring hundreds of jobs to North QLD.          acquired the project in 2016.                                                                                          To date, Kidman and SQM have invested
                                                                                                         & Co. Ltd, we will be able to wholly focus
   QLD Premier Annastacia Palaszczuk             In September, Kidman announced it had                   on progressing the development of the Mt                more than $55 million in the Mt Holland
said the newly announced expansion            received notification from the Perth Mining                Holland lithium project, secure further                 project, which was expected to create about
would increase zinc production to about       Warden that applications for exemption                     strategic offtake agreements with key global            700 jobs during construction and 300 full
220,000 to 270,000 tonnes per year, and       from minimum expenditure on the relevant                   partners and continue our discussions in                time positions during operations.
was great news for North QLD and for          tenements be refused.                                      relation to the provision of debt facilities with           WA Government royalties were also
Sun Metals Corporation.                          Kidman’s assessment of the previous                     prospective lenders,” Kidman managing                   expected to be in excess of $1.7 billion.
   “This is a huge day for Townsville

                                              Adani pushes ahead with Carmichael mine
and the surrounding region because
the expansion is expected to support an
estimated 350 jobs during construction,
and there will be around 100 additional
permanent refinery and logistic workers       AMY BLOM
once operational,” Ms Palaszczuk said.        QLD
   Sun Metals’ refinery expansion was
expected to commence immediately, and         A LAST minute legal bid will not prevent
was expected to be complete by the first      Adani Australia from pushing ahead with
half of 2021.                                 the construction of its Carmichael mine in
                                              central QLD, with the company opening
                                              expressions of interest on 4 December.
‘Mega’ steel                                     The Indian energy giant announced it
                                              would 100 per cent finance the scaled-down
plant on cards                                mine and rail project on 29 November,
                                              opening it up to begin construction before
for Whyalla                                   Christmas.
                                                 Adani Australia chief executive Lucas
                                              Dow said work in recent months had
                                              culminated in the miner’s approval of the
                                              revised project plan that de-risked the
GFG Alliance executive chairman
                                              initial stages of the mine and rail project
Sanjeev Gupta has unveiled plans to
build a ‘Next-Gen’ steel plant in Whyalla     by adopting a narrow gauge rail solution
that will be the largest in the world.        combined with a reduced ramp up volume
                                              for the mine.                                                                                                                                           Image: Adani.
   The plant would be capable of
                                                 “This means we’ve minimised our                          Adani Australia chief executive Lucas Dow made the announcement at the Bowen Basin Mining Club.
producing 10 million tonnes per annum,
with the ability and infrastructure to        execution risk and initial capital outlay,”
                                                                                                         activists launched a legal challenge to a               Carmichael project, and we will do so in line
eventually double capacity.                   Mr Dow said.
                                                                                                         Federal Government decision to bypass an                with our approvals, along with the strict
   “Using      the     most      advanced        “The sharpening of the mine plan has                    impact assessment of planned water use by               regulations and legislation that govern
technologies and our own local resources,     kept operating costs to a minimum and                      Adani, in a bid to prevent construction of              our Australian resources industry,” the
we will aim to be one of the most             ensures the project remains within the first               the mine, which has become a lightning rod              spokesperson said.
competitive steel producers globally,” Mr     quartile of the global cost curve.”                        for environmental activists.                               “Adani has been through a rigorous
Gupta said.                                      Mr Dow said Adani would now begin                          However an Adan spokesperson said the                and strict approvals process over the last
   “Thousands of job opportunities will       developing a smaller open cut mine                         legal action would not stop construction,               eight years and we have met all of those
be created throughout the construction        comparable to many other QLD coal mines,                   and that Adani did not need the North                   requirements.
phase and from the plant’s ongoing            and would ramp up production over time to                  Galilee Water Scheme finalised to begin                    “Accordingly, we now expect that we
operations.”                                  27.5 million tonnes per annum.                             work on the project.                                    will be treated no differently to any other
                                                 The following week, environmental                          “Adani will continue to deliver the                  Australian miner.”
January 2019 - The Australian Mining Review
January 2019 - The Australian Mining Review
8              NEWS
                                                                                                                                                                                                 JANUARY 2019
                                                                                                                                                                         THE AUSTRALIAN MINING REVIEW

Albemarle to                                          FMG launches higher grade iron ore
acquire 50pc
of Wodgina

MINERAL Resources (MinRes) has
agreed to sell a half-share in its Wodgina
lithium project to US group Ablemarle
Corporation for $US1.15 billion.
    Under the deal, Albemarle would
acquire a 50 per cent interest in all
mineral rights within the Wodgina
tenements other than iron ore (which will
be retained exclusively by MinRes) and
tantalum (which remain held by Global
Advanced Metals Greenbushes), as well
as all fixed infrastructure and utility               FMG’s West Pilbara Fines product at its Pilbara operations.
assets, the spodumene concentrate plant                                                                        in December, both into China to established     Ms Gaines said.
and the mobile mining equipment.                      ELIZABETH FABRI
                                                      WA                                                       large steel mill customers,” FMG chief             “Fortescue’s wholly owned, integrated
    The two companies would form a 50:50                                                                       operating officer Greg Lilleyman said at a      mining operations and infrastructure,
Joint venture (JV), which would include                                                                        media briefing.                                 together with our innovative processing and
a jointly funded, designed, built and                 FORTESCUE Metals Group (FMG) will
                                                                                                                  The introduction of West Pilbara Fines       blending strategy, provides us the flexibility
operated lithium hydroxide plant.                     wave off its first two shipments of higher
                                                                                                               came at an opportune time for the company,      to deliver West Pilbara Fines before full
    The Wodgina project was expected to               grade 60.1 per cent West Pilbara Fines iron
                                                      ore in December to customers in China.                   which had experienced wider-than-normal         scale production begins on completion of the
produce up to 750,000tpa of 6 per cent                                                                         discounts in recent years for its lower grade   Eliwana development.”
spodumene, which would be used as                        The new product is a higher iron, low                 58 per cent iron ore.                              The investor and media tour also
feedstock for the plant once constructed.             alumina ore blended from its Firetail mine
                                                      and the western pits at its Cloudbreak mine                 However, the miner remained confident        highlighted FMG’s advances in automation
    The first stage was expected to produce
                                                      in the Pilbara.                                          the gap between prices received for lower and   across its operations.
at least 50,000tpa of battery grade
lithium hydroxide and the second stage                   FMG said it planned to ship between 5                 higher grade ore was beginning to narrow.          The miner was currently converting
was expected to convert the remaining                 and 10 million tonnes of the WPF product                    FMG chief executive Elizabeth Gaines         its existing fleet of haul trucks with
volume of spodumene concentrate to                    in FY19, which will grow to 40mtpa once                  said the new product would enable FMG to        Caterpillar’s ‘Cat Command’ autonomous
battery grade lithium hydroxide — with                its Eliwana mine enters production in                    offer a more flexible product mix.              haulage technology.
expected production at about 100,000tpa.              December 2020.                                               “Innovation in process and design is a         “The 789D is the 35th manned truck to
    MinRes managing director Chris                       At a recent media and investor tour,                  key component of Fortescue’s strategy to        be converted to autonomous at Christmas
Ellison said there was an extremely good              FMG took visitors to its port, rail and                  efficiently and effectively deliver products    Creek, demonstrating our progress to
fit between the corporate cultures and                Chichester Hub operations to view the West               from mine to market and the introduction of     becoming the only iron ore operation in the
skillsets of both businesses.                         Pilbara Fines stockpiles.                                West Pilbara Fines will further enhance the     world to have a fully autonomous haulage
    “Our      proven      local    Western               “We’re expecting a couple of shipments                range of ores available for our customers,”     fleet,” Ms Gaines said.
Australian capability is extremely well

                                                      TNG to raise $850m for Mount Peake
complemented by Albemarle’s proven
technical       downstream       processing
expertise and their international
marketing capabilities in lithium and
other energy storage minerals,” Mr
Ellison said.                                         AMY BLOM                                                                                                                            Image: TNG Limited.
    “Our organisations share the same                 NT
vision to develop Wodgina, a tier one
asset, as a world class, 30-plus year                 TNG Limited has appointed a German
integrated lithium operation together.                company to raise $850 million for the
    “I am confident that with MRL and                 development and construction of its Mount
Albemarle working together at Wodgina,                Peake project.
we will produce and supply high-quality,                 KfW IPEX-Bank would start a mandate
competitively priced lithium products                 for the funds on 15 January.
into the market to meet increasing global
                                                         TNG managing director Paul Burton
requirements for these important energy
                                                      said the company was one of the leading
storage products.”
                                                      export and project banks worldwide.
                                                         “We now look forward to working
                                                      closely with KfW IPEX-Bank to progress
                                                      the full financing package for the Mount
                                                      Peake project expeditiously, with a view to
                                                      achieving financial close as soon as possible
                                                      and getting on with the job of constructing
                                                      this major new Australian resource project,”
                                                      Mr Burton said.
                                                         According to Mr Burton the decision
                                                      followed extensive reviews and meetings in
                                                      Europe and Singapore.
                                                         It came less than a month after the
Images: Mineral Resources.                                                                                     A rig at TNG’s Mount Peake project.
                                                      Northern Territory Government granted
                                                      the company a mineral lease for Mount                    announcements over the past few months,         over a two year period, with an estimated
                                                      Peake, 235km north of Alice Springs.                     including the signing of a Native Title         mine life of 17 years.
                                                         The mine, granted major project status                Agreement.
                                                                                                                                                                  The new mine would produce a
                                                      by the NT Government, had the potential                     “With these important milestones now         vanadium, titanium and iron concentrate
                                                      to create up to 500 jobs during construction,            complete, and subject to finance, this will
                                                                                                                                                               that TNG intended to transport by rail
                                                      and between 175 and 250 ongoing roles                    now lead to a significant project going
                                                      during operation.                                                                                        to a proposed new metals processing
                                                                                                               into production in the NT with long-term
                                                                                                               employment opportunities,” Mr Burton            facility being planned for the Middle Arm
                                                         Following the mineral lease being
                                                                                                               said.                                           Industrial Precinct in Darwin.
                                                      granted, Mr Burton said the company
The project will be jointly funded, designed, built   was rapidly ticking off the boxes towards                   Subject to further operational approvals,       Subject to approvals, TNG expected
and operated by both companies.                       the Mount Peake development, with key                    TNG aimed to begin construction in 2019         construction of the refinery to begin in 2020.
January 2019 - The Australian Mining Review

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January 2019 - The Australian Mining Review
10 NEWS:
                                                                                                                                                                                                 JANUARY 2019
                                                                                                                                                                        THE AUSTRALIAN MINING REVIEW

IN BRIEF                                     Vimy defines uranium corridor
New projects                                                                                                                                                                         Image: Vimy Resources.

benefit from
exploration grants

ALMOST $2 million is up for grabs
as part of the QLD Government and
industry’s Collaborative Exploration
Initiative, which aims to encourage
explorers to uncover minerals in the
State’s remote, resource-rich North
    QLD Mines minister Dr Anthony
Lynham said 15 new exploration
projects, powered by 12 companies,
would be bolstered by the latest round
of collaborative exploration grants.
    “Queensland is investing in
exploration,” Dr Lynham said.
    Proponents would receive up to
half of the direct activity costs of their
projects to a maximum of $200,000 and
will get an additional incentive of 75
per cent, or up to $300,000, if they can
finalise projects by August 2019.

                                             Drilling at Such Wow.

High-grade                                   AMY BLOM
                                                                                                  executive Mike Young said the sheer size of                 uranium mineralisation and help to build a
                                                                                                  the prospect was remarkable.                                pipeline of projects.”
mineralisation at                                                                                    “The combination of surface alteration and                  According to Vimy, Such Wow was a
                                                                                                  structural features, along with significant                 stand-out exploration target due to the
Southern Nights                              VIMY Resources has defined a large
                                             uranium corridor at its Such Wow prospect,
                                                                                                  uranium anomalism in our last drill hole,
                                                                                                  reinforces its potential,” Mr Young said.
                                                                                                                                                              overall size of the structural corridor – more
                                                                                                                                                              than five times the size of the Angularli
                                             which is part of its Alligator River project in                                                                  prospect – with thin sandstone cover
NSW                                                                                                  “Our exploration team has over 20
                                             the Northern Territory.                                                                                          and surface expressions of hydrothermal
                                                                                                  years of combined uranium experience in
                                                According to Vimy, first pass reverse             Arnhem Land and they have never seen a                      alteration associated with uranium
PEEL       Mining      has     announced
                                             circulation (RC) drilling at the prospect            clear-cut surface expression of potential                   mineralisation.
high-grade zinc-lead assays at its 100
                                             intersected the uranium hosted Cahill                uranium mineralisation as was mapped at                        Such Wow was within the King
per cent owned Wagga Tank project,
                                             formation in all six holes.                          the Shiba Zone about 120 metres above the
south of Cobar in western NSW.                                                                                                                                River-Wellington Range joint venture, which
                                                Key targets were identified along major           unconformity.                                               Vimy had a 75 per cent stake in, and Rio
   The Wagga Tank project, which
                                             fault zones with extensive alteration haloes.           “We’re confident that future drill                       Tinto Exploration had the remaining 25 per
included the Southern Nights prospect,
was emerging as one of the most                 Vimy managing director and chief                  programs at Such Wow will prove up more                     cent.

                                             Galileo strikes more cobalt
significant zinc polymetallic discoveries
in Australia in recent years, with results
including 18.2 metres at 40.3 per cent
zinc, 15.7 per cent lead, 0.97 per cent
copper, 356 grams per tonne silver, and
2.77 grams per tonne of gold from 182
metres.                                      AMY BLOM                                                                                                                                  Image: Galileo Mining.

                                             MARK Creasy-backed Galileo Mining is a step
Intermin and                                 closer to developing a commercial cobalt mine
                                             in WA’s goldfields region, after announcing
MacPhersons to                               a new 4100 tonne cobalt resource within its
                                             Norseman project.
merge                                            The Maiden JORC 2012 Inferred Resource
                                             for the Goblin prospect recorded 4.9 million
WA                                           tonnes at 0.08 per cent cobalt for 4100 tonnes
                                             of contained cobalt.
JUNIOR Goldfields-focussed explorers             With the addition of the Goblin prospect,
Intermin and MacPhersons have agreed         the global resource base of the Norseman
to merge to form a new gold company,         cobalt project now stood at 25.1 million tonnes
Horizon Minerals.                            at 0.11 per cent cobalt (at a 0.06 per cent cobalt
   Under the merger, the company             cut-off) for 26,600 tonnes of cobalt and 122,400
would have a combined mineral                tonnes of nickel.
resource of 1.15 million ounces with a           Galileo managing director Brad Underwood
100 per cent interest in the Boorara gold    said the new JORC resource at the Goblin             Reverse circulation drilling at Galileo’s Norseman cobalt project.
project and the Nimbus project which
                                             prospect validated the company’s strategy            adding further resources with our exploration               JORC resources at Norseman.
contained gold, silver and zinc, as well
                                             of building up the project’s resource base           and resource extension drilling programs
as several active joint ventures.                                                                                                                                In early December the explorer announced
                                             while undertaking metallurgical test work to         planned for 2019.”
   “Combining MacPhersons’ large                                                                                                                              metallurgical test work results had
                                             understand the most efficient method of metal           The Goblin prospect was 3km south of                     demonstrated up to 95 per cent cobalt metal
baseload Boorara deposit with the            extraction from those resources.
nearby, higher-grade Intermin projects                                                            Galileo’s main resource at Norseman and had                 extraction and 66 per cent nickel metal
should enable a more rapid pathway to            “The Goblin resource is a great result and       an identified strike of cobalt mineralisation of            extraction from Norseman project concentrate
production with sufficient scale to avoid    confirms our belief that significant zones of        more than 2km.                                              samples.
the need for third party toll milling,”      cobalt mineralisation occur outside of our              According to Galileo, the cobalt                            Mr Underwood said the results showed
Intermin managing director Jon Price         current JORC resources,” Mr Underwood said.          mineralisation occured at shallow depths of                 that Galileo was making substantial progress
said.                                            “We are confident that this continues to be      between 12 metres and 60 metres and was                     towards understanding the best way to extract
                                             the case and look forward to the opportunity of      consistent in style with the company’s existing             cobalt and nickel from its Norseman resources.
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Australian Mining review_FP DEC018_FA.indd 1                                                                        3/12/18 2:45 pm
12 NEWS:
                                                                                                                                                                                               JANUARY 2019
                                                                                                                                                                      THE AUSTRALIAN MINING REVIEW

IN BRIEF                                     Veterans transition to mining jobs
Isaac plains
mining work

NRW Holdings’ subsidiary Golding
Contractors has reached agreement
with Stanmore Coal for a five-year
extension to its current contract for
mining services at Isaac Plains East
open cut coal mine in QLD.
   The value of this award added about
$500 million to the existing contract and
extended the project term to June 2024.
   “The relationship which commenced
in 2015, has been a productive and
successful partnership and we look
forward to supporting Stanmore’s
growth ambitions as they further
develop their extensive resource base
over the coming years,” NRW chief
executive and managing director Jules
Pemberton said.
                                                                                                                                                                                         Image: Macmahon.

MACA secures                                 Macmahon has initiated a series of veteran assessment days this year.

                                                                                                      there is a need for a new wave of consistent              In 2018, there had been a 36 per cent
Kirkalocka                                   EMMA DAVIES
                                                                                                      government policy and direct pathways to
                                                                                                      industry roles.
                                                                                                                                                            increase in job demand in the mining sector,
                                                                                                                                                            according to the latest DFP Recruitment
contract                                     MINING services contractor Macmahon
                                                                                                         “In response, we have implemented
                                                                                                      targeted strategies for engagement,
                                                                                                                                                            national Mining and Resources Job Index.
                                                                                                                                                                 “This [program] is a key aim for us to help
                                             and the Working Spirit group have joined                 development and retention of ex-defence               fill jobs across our wide network of contract
                                             forces to improve employment opportunities               force personnel.”                                     services to surface and underground mining
                                             available to Australian defence force                                                                          operators, especially given we have about $7
MACA Interquip has nabbed a $28                                                                          Ms Blacklock said high unemployment
                                             veterans as they transition to civilian work.                                                                  billion worth of project opportunities in our
million mill construction contract at                                                                 rates of veterans were often attributed to
Adaman Resources’ Kirkalocka gold               Macmahon manager human resources                      misconceptions that army, navy and air                pipeline to come onstream,” Ms Blacklock
project near Mt Magnet in WA.                Katherine Blacklock said most veterans                   force veterans suffer from mental health              said.
                                             had been extensively trained and their                   issues and veterans often under-sold their                “These opportunities will be in gold, base
   The work, scheduled to begin              experience and knowledge was a “highly
in February, included a new                                                                           skill set to potential employers.                     metals and coal sectors in Australia and
                                             transferrable fit for many mining and                                                                          offshore and are accompanied by significant
semi-autogenous grinding (SAG) mill                                                                      She said through the Working Spirit
                                             associated industry roles”.                                                                                    growth in demand for skilled and unskilled
installation and refurbishment of an                                                                  program, Macmahon and other miners
existing mineral processing plant.              “Typically, veterans breed integrity and              were improving employment opportunities               labour.”
                                             hard work and have shown leadership under                available to veterans through a direct                    To date, Macmahon has held a series of
   MACA operations director Geoff            stressful conditions,” Ms Blacklock said.
Baker said the contract would span                                                                    opportunities portal as well as career                veteran assessment days and has employed
about eight months and employ up to 40          “Veterans often tell us the transition                summits,        networking,     and   social          12 former Australian Defence Force
personnel.                                   process can be quite jarring and many feel               sundowners.                                           personnel through Working Spirit.

                                             Thyssenkrupp nabs $250m South Flank contract
   “The recent contract awards for
MACA Interquip demonstrates the
success of the MACA strategy to
diversify its services within the resource
industry’,” Mr Baker said.                   AMY BLOM

Three year                                   THYSSENKRUPP Industrial Solutions will
                                             deliver the largest rail-mounted stackers and
extension for Bis                            reclaimer in the world after securing a $250
                                             million contract at BHP’s South Flank iron ore
                                             operation in WA’s Pilbara region.
                                                It would be one of the largest fabrication
                                             and construction projects the company has
MINING services company Bis has
been awarded a three-year contract           ever undertaken in WA, and would see it
extension to provide haulage services        design, supply, construct and commission
for Whitehaven Coal’s Tarrawonga and         large-scale stockyard machines.
Rocglen coal mines in NSW.                      Thyssenkrupp        Industrial     Solutions
   Bis would deliver a new fleet of          mining technologies chief executive Torsten
enhanced prime movers to support the         Gerlach said the company looked forward to
Gunnedah operations.                         contributing to South Flank by combining
                                             long-standing global expertise in the mining
   The bespoke haulage solution
                                             business with local experience.                                                                                                          Image: Thyssenkrupp.
provided greater payload capacity,
while reducing the number of prime              “Our strong partnership with BHP extends
                                                                                                      A Thyssenkrupp stacker and reclaimer at a BHP mine.
movers, delivering cost efficiencies and     globally, but the Pilbara region is a core area
benefits to Whitehaven Coal.                 where we have provided material handling                    The machines would have a capacity of              activities.
   One way trips would also be reduced       solutions for decades,” Mr Gerlach said.                 20,000 tonnes per hour, making them the                  Generating about 80 million tonnes of
by 36 per cent (about 48 000 fewer              “With our field service teams we are                  largest of their kind in the world.                   output per year, South Flank would fully
trips per annum when compared to             supporting our customers on a daily basis.”                 According to Thyssenkrupp, the design              replace production from the existing Yandi
the current fleet) which would reduce           Thyssenkrupp would supply two stackers                of the machines incorporated the latest               mine, which was reaching the end of its
vehicle emissions, and contribute to         that deposit iron ore into stockyards, and a             Australian design standard requirements               economic life.
improved local road safety.                  reclaimer for loading the ore into trains for            and technology improvement centred on safe               BHP was targeting first ore extraction in
                                             transport to Port Hedland.                               construction, operation, and maintenance              2021.
                                                                                                                                                                                                        JANUARY 2019
                                                                                                                                                                              THE AUSTRALIAN MINING REVIEW

Data scientists called for $1m challenge
ELIZABETH FABRI                                    Image: OZ Minerals.

OZ Minerals, in partnership with open
innovation platform Unearthed, has
launched an Explorer Challenge that aims to
crowdsource solutions online from the world’s
leading data scientists and geologists.
   During the 10-week challenge, participants
will have the opportunity to develop
ground-breaking approaches to discovering
new exploration targets at OZ Minerals’
Prominent Hill copper-gold mine, with a $1
million prize pool awarded to “winning ideas”.
   Unearthed founding director Justin
Strharsky said the challenge sought to test
how the global resources industry could
leverage data science to its full potential.
   “During      the   exploration      process,
the iterative process of collecting
different datasets, followed by geological
interpretation, can take a very long time,”
Mr Strharsky said.
   “Vast amounts of data are collected and
processed, and very often this does not result
in a discovery.
   “The Explorer Challenge will speed up          The Explorer Challenge is open to geologists and data scientists from across the world.
the exploration lifecycle and allow us to
analyse information at a much faster rate         approach in the mining industry would no                  you recognise, you’re doing it wrong.”                  started two years ago when we migrated
than before.                                      longer suffice.                                              OZ Minerals chief executive Andrew                   all our exploration data to the Amazon Web
   “This     competition      represents     a       “The traditional borders of our companies              Cole said the challenge would give the team             Service (AWS) cloud,” Mr Cole said.
fundamental change in approach to                 must be expanded virtually to include people              potential access to thousands of scientists’               “We want to find ways to work smarter
problem-solving.                                  with different skills and perspectives from               ideas and data, and the winning idea would              with all the data we’ve got, not just geological
   “Data science techniques can be used for       around the world,” he said.                               have the chance to get their model tested in            data, and challenge existing concepts of how
exploration and many other challenges faced          “If your approach to digital skills is to hire         real life.                                              we are harnessing it.”
by the industry.”                                 people who happen to live near your HQ on                    “The challenge is a continuation of our                 Entries open in February 2019 with
   Mr Strharsky said the business as usual        the basis of a CV or a degree from a school               digital transformation journey, which we                winners to be announced in June 2019.

Hybrid      Koodaideri sets technological benchmark
truck tech                                            EMMA DAVIES                                                Image: Rio Tinto.
                                                      WA                                                         Photography: Christian Sprogoe.

goes global                                          RIO Tinto has approved its $3.5 billion
                                                     Koodaideri iron ore mine in WA that is
                                                     set to be its most technologically advanced
                                                     operation to date.
EMMA DAVIES                                             Construction was set to begin in 2019,
QLD                                                  and once complete, the mine would have
                                                     an annual capacity of 43 million tonnes
A NEW hybrid truck has been doing circuits           - underpinning production of the Pilbara
around New Hope Group’s New Acland mine              Blend, Rio Tinto’s flagship iron ore product.
for the past two years and is now attracting            The operation had been designed to
interest on the global market.                       utilise an increased level of automation
   New Acland mine general manager David             and digitisation which Rio Tinto expected
Vink said the innovative dual fuel trucks, led       would significantly enhance productivity,
by project partners Mine Energy Solutions            safety and maintenance of the new mine.
(MES) and Hastings Deering, were a great                “Koodaideri is a game-changer,” Rio
example of industry collaboration.                   Tinto chief executive Jean-Sébastien
   “We provided the trial site and wherewithal,      Jacques said.
MES the technology and Hastings Deering the             “It will be the most technologically
hardware - so to speak (truck and engines),”         advanced mine we have ever built and
Mr Vink said.                                        sets a new benchmark for the industry
   The revolutionary technology enabled              in terms of the adoption of automation
the conversion of high horse powered diesel          and the use of data to enhance safety and
engines from 100 per cent diesel to dual fuel        productivity.”
operation, using natural gas as the dominant            The site would feature technology
fuel through sequential gas injection.               already in use across Rio Tinto, such as
   “When MES first looked for project partners       autonomous trucks, trains and drills,                     Rio Tinto autonomous haulage trucks, West Angelas minesite.
in Queensland there was no one interested, but       and implement systems connecting all
we could see the potential for this technology       components of the mining value chain for                  a significant leap forward for the global              business.”
from the outset,” Mr Vink said.                      the first time.                                           mining industry.                                         Rio Tinto expected to employ more than
   “Now, after nearly 24 months operating               Innovations included a digital replica of                  “We’ve been building mines in the                  2000 people throughout construction, with
on site, clocking more than 6200 hours, we’ve        the processing plant, accessible in real time             Pilbara for over 50 years, and, subject                600 permanent roles created once the mine
piqued the interest of the big boys and the          by workers in the field; fully integrated                 to final approvals, Koodaideri will                    was operational in 2021.
sceptics.                                            mine automation and simulation systems;                   incorporate all of that knowledge to enable
   “We’ve taken the technology from an R&D           advanced automation, including an                         us to build the smartest, safest and most                 The miner had also poured $44 million
project to ready for commercial application.         automated workshop; and numerous data                     efficient mine we’ve ever constructed,” Mr             into a pre-feasibility study for Koodaideri
                                                     analytics capabilities and control loops to               Salisbury said.                                        Phase 2, which would increase annual
   “The trial is complete, MES’s technology
has been proven and we are pleased to be             optimise production and reduce downtime.                      “The deployment of leading edge                    capacity to 70 million tonnes and beyond.
part of this exciting project that is now going         Rio Tinto Iron Ore chief executive                     technology will deliver a step-change                    Koodaideri remained subject to WA
global.”                                             Chris Salisbury said the project would be                 in both safety and productivity for our                Government approval.
                                              enduring the harshest conditions

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                                                                                                                                                                                                       JANUARY 2019
                                                                                                                                                                               THE AUSTRALIAN MINING REVIEW

Newcrest signs landmark agreements

NEWCREST Mining is ramping up
its activities overseas after entering
non-binding agreements with exploration
juniors in Chile and signing a memorandum
of understanding (MOU) with its Wafi-Golpu
joint venture partner Harmony Gold and the
Independent State of Papua New Guinea.
   The Wafi-Golpu MOU established the
framework for the parties to progress the
permitting of the Wafi-Golpu project as
quickly as practicable and re-affirmed the
intention to achieve grant of a special mining
lease by 30 June 2019.
   “We have been working constructively
with the Government of Papua New Guinea
to progress permitting of the project and
recently achieved key milestones in this
process with completion of our Feasibility
Study Update in March 2018 and
Environmental Impact Statement in June
2018,” Newcrest managing director and
chief executive Sandeep Biswas said.                                                                                                                                                       Image: Newcrest Mining.
    “Getting this work started will benefit
                                                     The Wafi-Golpu Joint Venture in Papua New Guinea is expected to be granted a Special Mining Lease by mid-2019.
Morobe Province, with a capital injection
into the economy and improved access to              Maricunga magmatic belt.                                for the exploration of Mirasol’s Gorbea                  mines in Australia, Papua New Guinea,
remote parts of the Province.”                                                                               and Altazor projects over the next 12 to 18              and Indonesia, and we are pleased to have
                                                        Mirasol chief executive Stephen Nano
   The company’s agreements in Chile                                                                         months.”                                                 entered into this agreement with them,” Ms
                                                     said the company was pleased to again be
included an option to farm-in on Mirasol                                                                                                                              Macdonald said.
                                                     partnering with Newcrest to explore its                    Cornerstone Captial Resources chief
Resources’      Gorbea        high-sulfidation                                                                                                                           “Newcrest is also actively exploring in
                                                     prospective Mio-Pliocene belt projects for              executive Brooke Macdonald was also
epithermal gold project; and Cornerstone                                                                                                                              Ecuador, where Cornerstone has a first
Capital Resource’s epithermal gold-silver            district scale gold deposits.                           enthusiastic to be working with Newcrest.
                                                                                                                                                                      mover advantage as a prospect generator in
and porphyry gold-copper deposits along                “Newcrest has allocated a combined                      “Newcrest is one of the largest gold                   Ecuador since 2005, and several drill-ready
the interpreted northern extension of the            $US7.3 million in separate agreements,                  mining companies in the world, operating                 properties available for option.”

Tribune acquires
high-grade gold
                                                        South32 enters US alliance

AUSTRALIAN gold producer, Tribune
Resources, has acquired Singapore-based
Prometheus Developments as part of its bid
to transform the company into a significant
mining house.
   Prometheus has rights over the high-grade
Diwalwal gold exploration project on
Mindanao in the Philippines.
   As part of the acquisition, Tribune
Resources, a partner in the East Kundana
mine in WA’s eastern goldfields, would
purchase 5.5 million shares at deemed issue
price of $4.50 for a total consideration of $24.75
   According to Tribune, Prometheus had
defined an exploration target that would be
the focus of an extensive drilling program by
Tribune in 2019 with the intent to establish a
maiden mineral resource estimate.                                                          Image: South32.
   Tribune director Gordon Sklenka said
Diwalwal “ticked all the right boxes and                                                                       magmatic arcs — excluding South32’s                       During the five-year term of an option
represented      an      excellent    investment        EMMA DAVIES
                                                                                                               Hermosa project in southern Arizona.                   agreement, South32 would also make
opportunity for the company and its                     US
                                                                                                                  South32 would also provide a separate               option payments totalling $525,000 and
shareholders.                                                                                                                                                         completing $5 million in exploration
                                                                                                               annual acquisition fund of $200,000 to pay
   “Having a strong balance sheet and income            SOUTH32 has executed a Regional                        for the acquisition of new properties as               expenditures to EMX.
from the East Kundana joint venture has                 Strategic Alliance Agreement with EMX                  approved by the technical committee, with                 Five EMX copper projects in Arizona
allowed us to assess meaningful acquisitions            Royalty Corporation covering exploration               exploration work to be funded separately               had been selected to begin advancing
where we will be able to transform the                  tenements in Arizona, New Mexico, and                  through cash calls to South32.                         toward the drill program stage; Midnight
company into a significant mining house,” Mr            Utah.                                                                                                         Juniper, 1km northwest of the Morenci
                                                                                                                  Any projects advanced to the designated
Sklenka said.
                                                           Under the agreement, South32 agreed                 project stage would be covered under                   open pit copper mine; Jasper Canyon
   “Diwalwal ticks all the right boxes for us in        to provide $800,000 per year over two                  separate option agreements with each                   and Sleeping Beauty in the Globe-Miami
terms of adding value for shareholders.                 years to cover generative work and the                 agreement providing that South32 can                   mining district; Dragons Tail in the
   “The project has secure tenure, excellent            salaries of EMX personnel involved in the              earn a 100 per cent interest in the project            Superior mining district; and Lomitas
grades, prospective geology and the potential           exploration of copper and other base metal             by reimbursing EMX’s holding costs upon                Negras, about 10km southeast of the town
for the delineation of a very large gold deposit.”      projects within the Laramide and Tertiary              execution of the option agreement.                     of San Manuel.

Lynas faces
licensing hurdle                                                                                 Australia’s leading designer
                                                                                                 and manufacturer of rubber
                                                                                                   torsion spring products

                                                                                                              Made in Australia

                                                                                                  MOTOR BASES FOR ALL CRUSHER DRIVES

                                                                                                  MOTOR                              PUMPS

 Image: Lynas Corporation.

                                                 fails, then they should be stored in a PDF.
                                                 Export should only be considered if a PDF
MALAYSIA                                                                                                                            SCREENS
                                                 is not possible.”                                MOTOR
                                                    Lynas said it was one of a number of                                            FEEDERS
AUSTRALIAN rare earths miner Lynas               industries in Malaysia with feedstock            BASES
Corporation remains positive it can reach        that produces residues with low level
“an appropriate outcome” after stringent         radioactivity, and there should not be one
environmental demands were made for its          rule for other industries and one rule for
Malaysian processing operations’ license         Lynas.
renewal.                                            “We will consider all options available
   Lynas owns the Mt Weld rare earths            to us to achieve an appropriate outcome
mine in WA, and the Lynas Advanced               prior to 2 September 2019, including legal
Materials Plant (LAMP) in Malaysia – one         options,” it stated.
of the largest and most modern rare earth           Lynas’ share price dropped by about 26
separation plants in the world.                  per cent after the conditions were set.
   In December, a statement from                    The Review Committee report on Lynas’
Malaysia’s Minister for Energy, Science,         operations was also released on 4 December,
Technology, Environment and Climate              which was drafted after an extensive tour                                         BIG BELT
Change (MESTECC) expressed concerns                                                               IMPACT
over Lynas’ processing plant site and set
                                                 of Lynas’ operations, reviewed data from                                         SPECIALISTS
new conditions for the company to meet
                                                 Lynas’ monitoring, relevant regulators and        BEDS
                                                 peer-reviewed research, and meetings with
ahead of its license renewal in September        regulators, independent experts and local
2019.                                            community members.
   Conditions included the export of Water          The report concluded Lynas Malaysia’s
Leach Purification (WLP) residue and the         operations were low risk and compliant
submission of an action plan on the disposal     with applicable laws.
of Neutralization Underflow Residue
                                                    “We thank the Review Committee for
(NUF), as current approval was only valid
                                                 its diligent and thorough approach,” Lynas
until February.                                  chief executive and managing director
   In a statement, Lynas said the                Amanda Lacaze said.
preconiditions were inconsistent with the           She added the company was surprised
                                                                                                            CHAIN TENSIONERS
Review Committee’s recommendation                with the Ministry’s decision to impose the
released the same day, that Lynas Malaysia       pre-conditions, and they were inconsistent
should determine the location of and build       with the science, international best
a permanent disposal facility (PDF) for the      practice as well as with the expert Review
WLP residue.                                     Committee’s recommendations.
   “The potential construction of a PDF for         “This appears to be policy based on
WLP residue has always been part of our          politics, not policy based on science. It is
planning,” the company stated.                   very disappointing to receive this on the
   “It is provided for in our financial          same day that the Review Committee
statements and by way of the PDF bond in         report was released,” she said.
excess of $US34 million that is held by the
                                                    “However, we are confident we are well
Malaysian regulator.                             placed to manage potential changes and         PERTH: 08 6165 8892 BRISBANE: 07 3737 2400
   “Lynas’ license conditions explicitly state   our long term investment thesis remains
that residues should be recycled, and if that    strong.”
                                                                                                                                                                                 JANUARY 2019
                                                                                                                                                       THE AUSTRALIAN MINING REVIEW

                                                                                           5      SCONI
                                                                                                  Australian Mines (100%) www.australianmines.com.au
                                           3                                                      A cobalt-nickel-scandium project with a 2 million tonne per annum processing
                                                                            6                     • Capital cost: $1.35 billion
                                          4                          7                            • Jobs: 500 during construction and 300 in operations
    1 2                                                                                           • Development start date: 2019
                                                                                                  • First production: 2021
                                                                                                  • Mine life: 18 years

                                                                                           6      OLIVE DOWNS
                                                11                              8                 Pembroke (100%) www.pembrokeresources.com.au
                                                                                    9             Greenfield metallurgical coal mine with a yield of up to 15 million tonnes of
                                                                                                  product coal per annum for steel production.
                                                                                                  • Capital cost: $1 billion
                                                                                                  • Jobs: 3500 in construction and 1000 in operations

                                                                                                  • Development start date: 2019
                                                                                                  • First production: 2020
                                                                                                  • Mine life: More than 50 years

PROJECTS SNAPSHOT                                                                          7      Adani (100%) www.adaniaustralia.com

                                                                                                  A 10 million tonne per annum thermal coal mine, with plans to ramp up to
                                                                                                  • Capital cost: $2 billion
                                                                                                  • Jobs: 1500 jobs during construction
                                                                                                  • Development start date: 2019 (pending approvals)
                                                                                                  • First production: 2021
                                                                                                  • Mine life: 30+ years

1     ELIWANA                                                                               9     CLEAN TEQ SUNRISE
      Fortescue Metals Group (100%) www.fmgl.com.au                                               Clean TeQ (100%) www.cleanteq.com
      Eliwana is set to replace production at the 30mtpa Firetail mine, and will further          Sunrise is one of the highest grade and largest nickel and cobalt deposits
      contribute to FMG’s new 60.1 per cent West Pilbara Fines iron ore product.                  outside of Africa and one of the largest scandium deposits in the world.
      • Capital cost: $US1.275 billion                                                            • Capital cost: $1.7 billion
      • Jobs: 1900 during construction, 500 in operations                                         • Jobs: 1000 in construction and 300 in operations
      • Development start date: 2019                                                              • Development start date: Mid 2019
      • First production: December 2020                                                           • First production: 2019
      • Mine life: 18 years                                                                       • Mine life: More than 40 years

2     KOODAIDERI                                                                            8     BYLONG COAL
      Rio Tinto (100%) www.riotinto.com                                                           KEPCO Bylong Australia (100%) www.bylongproject.com.au
      Koodaideri will deliver a new 43 million tonne iron ore production hub for Rio              Open cut and underground mine expected to produce up to 6.5 million tonnes
      Tinto, and will be its most technologically advanced mine to date.                          of run of mine coal per annum for supply to the thermal coal export market.
      • Capital cost: $3.5 billion                                                                • Capital cost: $1.3 billion
      • Jobs: 2000 during construction, 600 in operations                                         • Jobs: 650 in construction and 450 in operations
      • Development start date: 2019                                                              • Development start date: 2019 (subject to approvals)
      • First production: Late 2021                                                               • First production: [unknown]
      • Mine life: 30 years                                                                       • Mine life: 25 years

3     MOUNT PEAKE                                                                          10 ROGETTA
      TNG Limited (100%) www.tngltd.com.au                                                        Forward Mining (100%) www.forwardmining.com
      Open pit mining and onsite processing to produce a magnetite concentrate                    The biggest iron ore mine in Tasmania, Rogetta is forecast to produce 1mtpa over
      • Capital cost: $853 million for stage 1 and $969 million for stage 2                       its initial mine life, and could fetch export revenues of up to $100 million a year.
      • Jobs: Up to 500 in construction and 175-250 in operations                                 • Capital cost: $100 million
      • Development start date: 2019 (subject to further approvals)                               • Jobs: 200 jobs during construction and 100 jobs in operations
      • First production: 2021                                                                    • Development start date: 2019
      • Mine life: 17 years                                                                       • First production: 2020
                                                                                                  • Mine life: 30 years (initial 8 years)

4     NOLANS                                                                                  SIVIOUR
                                                                                           11 Renascor
      Arafura Resources (100%) www.arultd.com                                                          Resources (100%) www.renascor.com.au
      An open cut rare earths mine with a targeted annual output of 3600 tonnes of                Siviour the largest graphite deposit in Australia, and the fifth largest graphite
      neodymium and praseodymium (NdPr) and other by-products.                                    deposit in the world with annual production of 123,000 tonnes.
      • Capital cost: $US680 million                                                              • Capital cost: (Stage 1) $US29 million, (Stage 2) $US91 million
      • Jobs: 400-500 in construction and 250-300 in operations                                   • Jobs: About 150 during construction and 100 during operations
      • Development start date: late 2019 (subject to Final Investment Decision)                  • Development start date: Q4 2019 (pending approvals)
      • First production: 2021/2022                                                               • First production: 2020
      • Mine life: 40 years based on identified resources                                         • Mine life: 60+ years
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