CAPITAL MARKETS

Mining Briefs: Rio, KGL and more

IN MINING Briefs today: Rio to support mining training centre; drilling from KGL and Pacifico; Au...

Alison Middleton
Mining Briefs: Rio, KGL and more

Rio Tinto is to donate $2.4 million towards the establishment of a mining training centre in Northeast Arnhem Land, the Gumatj Corporation has confirmed.

The centre will provide training for the Yolngu people as plans ramp up for a bauxite mining operation to be run by the Gumatj clan at Dhupuma Plateau.

Construction is expected to start in the coming year on a site near the new Garma Knowledge Centre in Gulkula. The centre will be open to Aboriginal people throughout the Northern Territory who want to learn skills in the mining industry.

KGL Resources has confirmed the high grade nature of the mineralisation at the company’s Bellbird deposit in the Jervois project in the Northern Territory.

Significant results from outstanding oxide drilling assay results included 7m at 8.22% copper, 53.1g/t silver and 0.23g/t gold from 56m.

KGL said the oxide drilling program at Bellbird had shown high grade mineralisation with good width and continuity over a strike length of at least 400m.

Ausdrill has indefinitely extended managing director Ron Sayers’ employment agreement subject to performance.

The agreement, which had been due to expire on June 30, can be terminated by either party on 12 months’ notice. Ausdrill said Sayers’ remuneration remained unchanged and he would receive no additional incentives.

The company’s announcement coincided with court proceedings in the Supreme Court of Western Australia, which recommenced today. Ausdrill said it would not make any further announcement on the court proceedings until a verdict is reached.

DGR Global has announced a JORC 2012 compliant mineral resource for the retreatment of the tailings at its Shamrock project near Kilkivan in Queensland.

The Shamrock Mine site tailings dam resource has been defined an indicated resource of 770,00t at 0.58 g/t for 14,000oz gold and an inferred resource of 770,000t at 11g/t gold for 265,000oz silver.

Entities associated with company directors Bill Stubbs and Nick Mather have provided the company with short-term loans while it considers strategies for longer-term funding.

Legacy Iron Ore has confirmed its major shareholder National Mineral Development Corporation has been granted approval to participate in the current entitlement offer.

The Foreign Investment Review Board has advised NMDC that there are no objections to the proposed investment of $12.1 million, enabling the company to subscribe to its full entitlement.

A maiden drilling program at Pacifico Mineral’ Berrio Gold Project in Columbia has confirmed high grade gold grades.

Highlights included 16.3m at 11.2g/t gold, including 5.7m at 29.1g/t gold with 1.3m at 96.3g/t gold and 1m at 20.1g/t gold.

The program was designed to test the distribution and grade of mineralisation beneath high grade gold zones defined in underground channel sampling.

Cohiba Minerals confirmed the Santy Wells tenements in Western Australia have been forfeited by the Department of Mines.

Legal proceedings are underway in the District Court of Western Australia against West Peak Iron, with Cohiba seeking to recover $125,000. WPI has filed a counter claim for $44,000.

Triton Minerals has confirmed substantial graphite mineralisation and the extension of multiple high grade graphite zones from its Nicanda Hill prospect in Mozambique.

Key drilling results included 75.9m at 9% weighted average graphite, and 37.3m at 11%.

South Boulder Mines has appointed GED to conduct geotechnical and hydrogeological drilling at the Colluli potash resource in Eritrea, Africa.

African Chrome Fields has reached agreement to acquire JustKapital Litigation and confirmed it will change the nature and scale of the company to solely focus on the provision of litigation funding.

Resource Development Group has entered into a conditional share sale agreement to acquire Perth-based diversified contractor Central Systems.

Central has a client base including Samsung, Fortescue Metals Group, BHP Billiton and Rio Tinto.

Under the terms of the agreement, RDG will issue shareholders a total of 497,175,172 shares of 100% of the issued capital.

Central’s shareholders will own in aggregate 78% of the fully diluted issued capital of RDG.

TOPICS:

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Company ESG Index: Benchmarking the Future of Sustainable Mining

The Mining Company ESG Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.