A golden process

ALEXANDRA EASTWOOD

Derrick Corporation’s gold screening equipment can minimise maintenance and increase production.

Derrick Corporation’s innovative gold screening equipment allows customers to get more out of their operations.

Gold has been an integral part of the Australian mining environment for centuries. But as ore deposits get deeper and harder to access, processing equipment must keep up to ensure the precious metal can be mined for years to come.

Derrick Corporation has committed itself to developing new and innovative screening equipment to advance gold processing, while also contributing to a favourable investment return for its customers.

“A lot of our innovations come from providing solutions to our current customers,” Derrick general manager mining Garth Hay told Australian Mining.

“For example, the development of the G-Vault (urethane interstage screen) came from a customer complaint about their interstage screen being one of the bottlenecks of their system.”

Over a number of years, Derrick has developed screening solutions to minimise the maintenance a customer has to undertake and to reduce environmental impact.

These new designs and capabilities permit screens to replace more traditional flowsheet elements.

“A Derrick Stack Sizer can replace the hydrocyclones in a grinding circuit, resulting in greater recovery at reduced power consumption per tonne,” Hay said.

“Derrick machines provide superior performance in a smaller footprint, which can offer a huge advancement for a gold plant. By replacing old hydrocyclone technology with modern high-frequency vibrating screens, overall plant capacity can increase by 20 to 50 per cent.”

The G-Vault complete interstage unit is the latest addition to the Derrick gold processing portfolio. The G-Vault employs a modular approach, combining a screen surface with a robust and easy-to-connect support structure.

“The G-Vault features tapered openings and can withstand higher temperatures, contributing to its non-blinding characteristics,” Hay said.

“These non-blinding and abrasion-resistant properties result in a screen with higher throughput, increased life and less maintenance, all of which lead to a more efficient recovery of gold.”

The G-Vault, which has been installed in multiple locations around the world, has been met with wide acclaim.

“Customers are happy to report benefits from a maintenance and production standpoint,” Hay said. “From a maintenance side, we are decreasing man hours spent on maintaining a piece of equipment which in turn helps to reduce risk on-site. From a production standpoint, the G-Vault can increase flow, help mitigate carbon loss and run a consistent CIP (carbon in pulp) or CIL (carbon in leach) system.”

One of Derrick’s primary objectives is to minimise operational costs by developing highly durable machines.

For example, the Derrick integrated vibratory motors feature maintenance-free components that eliminate the need for routine maintenance and downtime. Used in conjunction with Derrick’s long-lasting Polyweb urethane panels, these motors enable clients to achieve optimal availability of their equipment.

The extensive research that goes into the development of these machines helps to ensure a high gold recovery rate and seamless user experience.

This research has evolved into the development of a range of screening solutions to address various gold-processing needs, including hydrocyclone overflow trash duty, tailings carbon safety, in-tank interstage carbon retention, de-gritting, loaded carbon, carbon sizing, carbon dewatering, gravity protection separation, and carbon column safety.

“Our focus has always been to reduce operation expenses by creating more robust machines,” Hay said.

“We have found our customers achieve higher availability with our machines. For example, once the G-Vault is installed, it can be operated for approximately six months before it is required to be changed.

“Other similar solutions may need weekly maintenance, which comes at extra man hours and a loss of tonnes. The G-Vault provides operational, production and safety benefits that increase profitability.”

With a new Australian office now open in Queensland, Derrick is ideally placed to help its customers make the most of its gold processing solutions, no matter the location.

This feature appeared in the August 2023 issue of Australian Mining.

Australia’s critical minerals conundrum

TOM PARKER

BHP critical minerals

BHP’s Nickel West operations in WA.

BHP understands Australia’s significant critical minerals opportunity, but it also recognises there are hurdles the local mining sector must overcome.

As BHP president Australia Geraldine Slattery explained at a recent American Chamber of Commerce event, Australia will have to approach its critical minerals future differently to its previous iron ore and coal plunders.

“Unlike Australia’s iron ore and metallurgical coal endowment – which were found in large quantities and close to the surface – our critical mineral resources, particularly nickel and copper, are deeper or more remote or individually smaller in scale,” Slattery said.

“This can make them more complex and more expensive per tonne to produce.

Take copper. Australia has significant copper resources, and the potential to be a significant copper player.

“The South Australia copper province is a case in point.”

Slattery said that while South Australia boasts its fair share of high-grade copper deposits, they are deep beneath the surface and require underground mining methods.

“(But) in Chile, one of Australia’s key competitors, copper endowments are larger in scale, closer to the surface – allowing for open-pit mining methods,” Slattery said.

“This translates to a higher cost-per-tonne to develop and operate copper mines in Australia, despite our high-grade endowment.”

Australia is also facing competition regarding its nickel future, with Indonesia a premier jurisdiction for the mining and processing of the battery metal.

“Australia has high quality resources, and one of the largest nickel reserves in the world,” Slattery said. “However, we face stiff competition from Indonesia’s large nickel reserves that are more accessible and can be extracted through open-pit methods.

“And Indonesia is highly motivated to aggressively invest in technologies to produce nickel at scale and do so sustainably.”

In discussing this reality, Slattery demonstrated the fact there won’t be the same ease in developing critical mineral deposits in Australia as it was for iron ore and coal.

“Yes, Australia has many large, high-quality resource endowments,” she said. “But we cannot afford to assume that we will have the same degree of comparative advantage in critical minerals as we have enjoyed in iron ore and metallurgical coal.

“As I said before: it all starts with the rocks – the quality and quantity of deposits and the degree of difficulty and cost involved in extracting those deposits drives the investment decision.”

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Newmont takeover of Newcrest receives PNG approval

OLIVIA THOMSON

Lihir gold mine in PNG

Papua New Guinea’s (PNG) Independent Consumer and Competition Commission (ICCC) has granted clearance for Newmont to proceed with its acquisition of Newcrest.

After a three-month process beginning in February 2023, Newmont secured a $26.2 billion takeover deal with Newcrest.

The Canadian Competition Bureau issued a ‘no action’ letter clearing Newmont’s announced transaction with Newcrest under Canadian competition law in mid-July.

Newmont has since been continuing to advance other regulatory approvals, such as PNG’s, and it expects to close the transaction in the December 2023 quarter.

Newmont still needs regulatory approvals from the Australian Competition and Consumer Commission (ACCC), the Australia Foreign Investment Review Board (FIRB), the Japan Fair Trade Commission (JFTC), the Philippine Competition Commission (PCC), and the Korea Fair Trade Commission (KFTC) to complete its acquisition of Newcrest.

Additionally, Newmont has been in consultation with Newcrest, and through this has determined that a pre-merger notification under the Hart–Scott–Rodino Antitrust Improvements Act of 1976 will not be required in the US for the transaction to proceed.

“We appreciate the ICCC in Papua New Guinea carefully reviewing and clearing our proposed acquisition of Newcrest,” Newmont chief executive officer Tom Palmer said.

Lihir in PNG is one of the world’s great gold mines and a Tier 1 operation by any measure. In addition to Lihir, we see profitable gold and copper growth through the world-class Wafi-Golpu project.

“We remain committed to building strong, mutually beneficial and long lasting relationships with PNG’s government and local communities. As part of this commitment, Newmont plans to establish PNG as a standalone fifth region in our portfolio with an in-country senior leadership presence and pursue a secondary listing of Newmont depositary interests on the PNG’s National Stock Exchange (PNGX).”

Both miners will continue engaging with the PNG Government and regulators about other approvals and clearances for the takeover.

Westgold aiming bigger next year

Westgold Resources has released its guidance for the 2024 financial year, hoping to mine more gold at a lower operating cost.

After delivering on production guidance for 2023, Westgold has set itself the goal of producing between 245,000 to 265,000 ounces of gold for next year. This is a 5,000 ounce increase on 2023.

The company has also decreased its projected al-in sustaining costs to $1800 to $2000 per ounce.

“Westgold delivered its guidance in financial year 2023, hitting the top end of production guidance and mid-point of costs. This was achieved while undertaking an organisational transformation which has placed the company in a position to build cash and enhance profitability on a sustainable basis.”

Westgold is set to increase its growth capital to $130 million for the 2024 financial year, $60 million of which will be invested towards new growth opportunities at the company’s operations.

Thirty million will go to developing the Great Fingall decline. At steady state, Westgold expects Great Fingall to produce between 300 to 450 thousand tonnes of ore at four to six grams per tonne of gold.

The Big Bell expansion will receive $24 million in capital funding for mine development, ventilation and development of a surface located paste plant. A feasibility study and final investment decision is expected in the first quarter of 2024.

Westgold has allocated $6 million to the restart of Fender, which it expects to produce around 330 thousand tonnes per annum at 2.7 grams of gold per tonne.

“The business is now structured to deliver safe and profitable ounces and critically, our financial year 2024 growth ambitions are funded from our existing cash resources. Looking forward, prudent capital investment into our organic growth projects such as Great Fingall, the expansion of Big Bell and restart of Fender establishes a growth runway into financial year 2025.”

WA powers on with vanadium

ALEXANDRA EASTWOOD

Future mining plans in north-west Queensland could be undermined by a lack of highly skilled workers, industry experts have warned.

Western Australia is set to see a renewable energy boost with Horizon Power’s purchase of a vanadium redox flow battery.

Vanadium is a metal found in mineral deposits. Currently, there is only one vanadium mining lease granted in Queensland, located in the North West Minerals Province. The Saint Elmo vanadium project began construction in 2022.

Australia’s first commercial vanadium flow battery was completed in South Australia in June this year.

The WA vanadium flow battery is expected to arrive in Perth in 2024. Western Australia Energy Minister Bill Johnston said the delivery will help the state lead the way in clean energy technology.

“Vanadium redox flow batteries are specifically designed to deliver energy over a long period of time, which is crucial for achieving the high levels of decarbonisation we are after,” Johnston said.

“If the pilot is successful, there is potential to expand the use of long-duration, 100 per cent renewable energy across Horizon Power’s 2.3 million square-kilometre network.”

The 78-kilowatt battery will provide Horizon Power will key learnings around how renewable energy can be integrated into the grid system.

Horizon Power has signed an agreement with VSUN Energy, a subsidiary of Australian Vanadium Limited, for the purchase, installation, and commissioning of the vanadium battery.

UGL moves to new Auburn facility

RAY CHAN

UGL Auburn

UGL has moved to a new manufacturing facility in Auburn, New South Wales, from where it will continue to support the railway industry. 

The facility is more modern than the previous one and better equipped at accommodating people living with a disability. It will be more efficient, comprised of one single facility rather than lots of small buildings. 

The move comes after the company spent nearly 50 years at its former location, in Milperra.  

UGL Managing Director Doug Moss said the company was constantly evolving and remained a leader in the rail industry.  

“Our new Auburn facility will allow us to grow and continue to innovate, but it’s our people that make UGL great,” he said.  

“We are lucky enough to have a breadth of knowledge and experience, with some of our employees working for us for 30 years or more.  

“We are a local manufacturer employing local people, using the latest in innovative design and combining it with all that fantastic experience.” 

A sustainable approach to the move was undertaken, achieving: 

  • 71.6 tonnes of steel recycled 
  • 11.2t of aluminium recycled 
  • 10.5t of copper recycled 
  • 13.5t of paper and cardboard 

The new manufacturing facility produces, repairs and tests signalling equipment and traction equipment, including: 

  • Signal wayside equipment 
  • Solid state interlocking 
  • Train protection systems 
  • Trackside cabinets
  • Rectifiers for traction power 
  • Heavy DC traction circuit breakers 

The site will play a crucial role within the industry, with UGL’s radio and signalling construction teams currently supporting major NSW infrastructure projects. 

As well, UGL strives to transform train travel by supporting Future Railway Mobile Communication Systems (FRMCS) in Australia once the standards are finalised in Europe, and through the adoption of new technologies. 

“It may be a new address, but we have the same high standard of quality and commitment our clients and communities have experienced for decades,” Moss said. 

Strandline Resources 

PROJECTS

Strandline’s project portfolio contains high quality assets which offer a range of development options and timelines, geographic diversity, and scalability. They include the world-scale Coburn mineral sands project in Western Australia, currently ramping up into production, and the emerging Tanzanian mineral sands growth projects Fungoni, Tajiri, and Bagamoyo.

Strandline’s exploration and development focuses primarily on discovering and evaluating mineral sands ore bodies that show an abundance of higher value minerals, nominally zircon, rutile and monazite, with the lesser value minerals of ilmenite and garnet as a co-product to the product suite.

Mineral sands are heavy minerals found in sediments on, or near to, the surface of ancient beach, river or dunal system. Strandline’s proposed mineral sands mining method involves both dry mining (Coburn and Fungoni projects) and wet hydraulic mining (Tajiri project). Mining units and wet concentration plant (WCP) separate the heavy valuable minerals (zircon, monazite, rutile, leucoxene, ilmenite) from the waste material. The WCP design utilises multiple stages of high-capacity gravity separation and classification to produce a high grade +90% heavy mineral concentrate (HMC).

Strandline Resources

Red 5 continues to shine

OLIVIA THOMSON

Following four months of record gold production at its King of the Hills (KOTH) gold mine, Red 5 has released its June 2023 quarter report.

During the quarter, the KOTH mine produced 61,705 ounces (oz) of gold, a significant increase from the 40,869oz produced in the March quarter.

Red 5’s June quarter sales equalled to 58,960oz, an increase from its March quarter’s 40,907oz. These gold sales resulted in operating cash flows of $50.6 million.

The company achieved the upper end of production and mid-range of cost guidance for the second half of the 2023 financial year, with production of 102,574oz at an AISC of $1837/oz against guidance of 90k-105k oz at AISC of $1750–1950/oz.

On top of successful operations, the company saw an improvement in safety, seeing no recordable injuries.

An ongoing board renewal process also began in the June quarter, with Russell Clark being appointed as chair and Peter Johnston being appointed as a non-executive director.

As of June 30, Red 5’s net debt position improved, reducing by $44.5 million to $81.9 million, its cash and bullion being $45.9 million, $22.0 million of bank debt being repaid, with $127.8 million outstanding on the KOTH debt facility.

“The June quarter has been a watershed period for Red 5, with the KOTH mine delivering strong results for the company, both operationally and financially and with a greatly improved safety performance,” Red 5 managing director Mark Williams said.

Red 5’s FY2024 production guidance has been set to 195k–215k ounces at AISC of $1850–$2100/oz.

“Our clear focus for the year ahead is to continue delivering safe, consistent and profitable ounces from the KOTH processing hub. This will, in turn, provide us with a platform to execute our longer-term growth strategy,” Williams said.

Newcrest achieves 210m

金矿巨头Newcrest全年黄金产量录得210万盎司

2023-07-25 10:40:47 (AET) by Edward Zhang   819

黄金生产商 Newcrest(ASX:NCM)在23财年实现了集团黄金产量和AISC(全部维持成本)的指导目标。但由于Cadia和Telfer的工厂产量下降,其全年铜产量低于指导范围1%。

澳股资讯平台 – 61 Financial 7月25日讯黄金生产商 Newcrest(ASX:NCM)周二发布公告,提供了2023年6月季度的活动报告。

报告显示,Newcrest在23财年实现了集团黄金产量和AISC(全部维持成本)的指导目标。但由于Cadia和Telfer的工厂产量下降,其全年铜产量低于指导范围1%。

由于本季度Cadia、Lihir和Brucejack业务的工厂吞吐量增加,以及Lihir和Brucejack的头矿金品位提高,黄金产量比上一季度高出9%。与前一时期相比,Red Chris和Telfer的黄金产量也有所增加。

公司季度总黄金产量录得55.6万盎司,铜产量录得3.5万吨。这推动公司23财年黄金总产量录得210万盎司,总铜产量为13.3万吨。

Newcrest本季度的AISC录得1196美元/盎司,比上一季度高出20%,主要是由于Lihir、Cadia和Red Chris的资本支出增加,以及实现铜价下降。本季度公司主要运营地点的黄金产量增加,推动了全集团黄金销量的增长,以及铜销量增加和澳元兑美元贬值对运营成本的影响,部分抵消了这一影响。

6月季度,Newcrest旗下受伤率与前一时期基本一致,这反映了Newcrest对安全的高度关注,因为所有工厂都在继续进行控制改进计划,以解决主要危险。尽管在整个23财年稳步降低了工伤率,但Cadia在本季度遭受了工伤的上升。

Cadia的TRIFR(总可记录伤害频次率)录得每百万小时7.06次可记录伤害,高于前一时期。公司指出,在本季度,来自Cadia合同合作伙伴的一名团队成员严重受伤,目前正在接受新南威尔士州资源监管机构的调查。

目前,Newcrest正在为这名队员、他的家人和同事提供支持。并致力于评估和改进其安全文化和系统,以减少伤害事件。

公司股价一年走势回顾:

text【更多NCM公告和股价走势请点击NCM个股页面


消息来源:

公司公告Quarterly Report ended 30 June 2023

Fenix completes $25 million iron ore acquisition

OLIVIA THOMSON

mining

Fenix Resources has completed the acquisition of Mount Gibson Iron’s Mid-West iron ore, port and rail assets.

In June 2023, Mount Gibson reached a conditional agreement to divest its Mid-West hematite iron ore mining and infrastructure assets to Fenix for $25 million. The deal comprised of $10 million in cash and 60 million Fenix shares and additional options.

The agreement makes Mount Gibson the single largest shareholder in Fenix with an approximate interest of 8.6 per cent.

The assets acquired by Fenix include:

  • the Shine iron ore mine, an operational iron ore mine currently on care and maintenance with a mineral resource estimate of 15 million tonnes at 58 per cent
  • two storage sheds at Geraldton Port that are on-wharf infrastructure consisting of Shed 4 with storage capacity of 120,000 tonnes and Shed 5 with storage capacity of 240,000 tonnes both with in-loading access via truck or rail
  • the two mid-west rail sidings, Ruvidini and Perenjori rail sidings, providing access to the main Mid-West rail network connecting to Geraldton Port and assembly locations for product storage and blending activities
  • assets at the Extension Hill iron ore mine that are large scale operational crushing and screening plant, associated equipment, and interests in an operational 138 bed mining camp, all currently on care and maintenance.

The acquisition is expected to provide Fenix with opportunities such as reducing the cost of its Iron Ridge project located approximately 600 kilometres north-northeast of Perth, Western Australia, as well as expanding the project’s production.

Fenix chairman John Welborn said the acquisition of Mount Gibson’s Mid-West iron ore and port assets is a game changer.

“This transformational event for Fenix will drive material economies of scale, provide flexibility to expand iron ore production and operate new projects concurrently,” Welborn said.

“In expanding a mine-to-port logistics solution for ourselves and other producers in the Mid-West, we also create employment opportunities which will strongly support regional economic growth and create exceptional shareholder value.”