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New PNG LNG venture one step closer to realisation
Published: 16 Nov 18
The Papua liquefied natural gas (LNG) project is one step closer to realisation after the joint venture (JV) partners entered into a memorandum of understanding (MoU) with the Papua New Guinea government. JV partner Oil Search said on Friday that the MoU provided the framework under which a gas agreement could be negotiated, with the aim of having the agreement in place by the end of March next year.
DRC lifts export ban on Glencore's copper and cobalt unit
Published: 16 Nov 18
A Glencore unit in the Democratic Republic of Congo (DRC) had a ban on imports and exports from its giant copper and cobalt mine lifted by authorities in the country. “They submitted a request,” Jean Baptiste Nkongolo Kabila, director general of Congo’s custom’s agency, said Thursday by phone. “I have taken the decision to temporarily lift the suspension measures.”
Iamgold doubles credit facility; Rosebel strike ends
Published: 16 Nov 18
Canada-based gold miner Iamgold on Thursday announced that it had doubled its credit facility and said in a separate statement that the work stoppage at its Rosebel mine, in Suriname, had ended. To fund its organic growth projects, The company amended its revolving credit facility, with the amount increased to $500-million from $250-million and the term extended to 2023.
Joint push to develop NT’s onshore and offshore gas resources
Published: 16 Nov 18
The commonwealth and Northern Territory governments have signed a memorandum of understanding (MoU) to jointly develop the Northern Territory’s gas industry, both onshore and offshore. Federal Minister for Resources and Northern Australia, Matt Canavan, said that the MoU recognised the national significance of gas resources offshore northern Australia, the onshore gas resources of the Northern Territory and the need to attract investment and create economic growth.
Ribbon gets cut at Ichthys facility
Published: 16 Nov 18
The Ichthys liquefied natural gas (LNG) processing facilities, in Darwin, have officially been opened, representing the largest Japanese investment in Australian history and the largest overseas investment by a Japanese company. Inpex CEO, president and representative director Takayuki Ueda said today’s official opening was the culmination of a global enterprise over the last 20 years.
Stanmore extends Isaac Plains contract
Published: 16 Nov 18
Coal miner Stanmore Coal has extended the mining services agreement at its Isaac Plains East coal mine, in Queensland, with ASX-listed NRW Holdings by another five years. The contract extension will start in July 2019 and provides Stanmore with the flexibility to scale up and down production through a cost-effective structure to meet market conditions, the flexibility to manage the transition to Isaac Downs once environmental approvals are achieved, and the ability to operate the coal handling and preparation plant, if required.
MOD completes T3 buy
Published: 16 Nov 18
Copper developer MOD Resources has completed the acquisition of the remaining 30% interest in its flagship T3 copper project, in Botswana. MOD in July this year signed a binding agreement with its joint venture (JV) partner Metal Tiger to acquire its share of the project for A$26.6-million.
Prodigy to raise cash for Tanami exploration
Published: 16 Nov 18
ASX-listed Prodigy Gold was hoping to raise up to A$8.8-million through a one-for-four non-renounceable pro rata rights issue. The rights issue will be priced at a 4% discount to the ten-day volume weighted average price of Prodigy Gold shares on Thursday, and all new shares will be ranked with existing shares from the date of issue.
Company expands offering to include hydraulics test, measurement Company expands offering to include hydraulics test, measurement
Published: 16 Nov 18
Amid a “recessive mining market”, industrial equipment and services provider Hydromine Projects & Marketing has expanded its offering by opening a test and measurement division that caters for valves in hydraulic systems.
Hydropowered drilling saves water – manufacturer Hydropowered drilling saves water – manufacturer
Published: 16 Nov 18
The notion that hydro-powered equipment uses or wastes more water than compressed-air (pneumatic) drilling or electric drilling is a misconception, says hydro-powered equipment manufacturer Novatek MD Julian Wills.
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