Special Report FEATURE

MININGSpecial Report FEATURE

IINGIING MM NN INGING NINGNING NN

MINING $US700 million in the past year, with Strandline Resources for FEATURE including 150 megawatts of [W]e have multiple the Coburn mineral sands pro- Big miners position for project next solar-powered generation. ject, and was awarded a $200 Majority owned by Hancock million deal for work at Silver Prospecting, Roy Hill Holdings has project scopes currently Lake Resources’ Mount Monger been given approval to increase gold mine. The big iron Projects under way & likely output at its namesake mine from 55mtpa to 60mtpa, while subsidi- under study for Koodaideri Lithium PROJECTS PROPONENT COST COMMODITY TIMING ary Atlas Iron has been awarding A big glut in production of ore miners are contracts for work at Corunna - Chris Salisbury lithium led to about $3 billion of South Flank BHP $6bn Iron ore 2021 phase two Downs this year. projects being deferred in WA in thinking about Iron Bridge FMG $3.8bn Iron ore (magnetite) 1H2022 Wood Mackenzie senior said the big issue was infrastruc- state agreements more actively to the past two years. research analyst Kim Christie ture investment for rail and port support new projects and get the Wesfarmers pushed back a Koodaideri Rio Tinto $3.5bn Iron ore Early 2022 what’s next in said the iron ore price had held construction. economy moving. final investment decision on the Eliwana FMG $1.7bn Iron ore Dec 2020 up remarkably well, thanks to Deloitte partner Noel Richards Mount Holland mine and Kwi- consistent Chinese demand in said iron ore was the largest con- Contractors nana lithium refinery, together the pipeline after Kemerton Albemarle Corporation $1.5bn Lithium hydroxide 2021 recent months. tributor to a total of nearly $30 Two big acquisitions will worth about $1.4 billion, until the projects such as Mesa B,C&H Rio Tinto $1.4bn Iron ore 2021 The commodity was trading at billion of major projects under change the contracting market in March quarter of 2021. Western Turner Syncline Phase Two Rio Tinto $1bn Iron ore 3Q2021 about $US85 per tonne at the time way in WA. WA, with NRW Holdings buying Tianqi Lithium completed the of writing, up by about $US4/t There was a further $122 bil- BGC’s contracting business and first stage of its Kwinana refin- South Flank and West Angeles C&D Rio Tinto $870m Iron ore 2021 from three months previously. lion of possible projects in the Macmahon Holdings taking con- ery in late 2018, but put the $300 Pilbara generation FMG $690m Iron ore 2022FY Ms Christie said there was state including in LNG and public trol of GBF. (A new-look BNiQ million stage two on hold, while Koodaideri. considerable infrastructure transport, according to Deloitte’s mining services list is on page 21.) Talison Lithium, co-owned by Greebushes expansion stage 2 Tianqi Lithium $520m Lithium concentrate investment in the pipeline in recently released investment In the short term, contractors Tianqi and Albemarle Corpora- Queen’s Valley FMG $420m Iron ore China for the year ahead, which monitor report. are grappling with the impact of tion, reconsidered its stage three would support steel demand, To get more marginal iron ore COVID-19. expansion of the Greenbushes DEFERRED OR DELAYED although global supply had been projects moving there would need Monadelphous told the ASX mine. Mt Holland mine Wesfarmers & SQM $1.4bn* Lithium concentrate tight. to be long-term certainty about in May that its engineering Albemarle is still building the But there were headwinds the iron ore price, Mr Richards construction business had expe- Kemerton refinery with Mineral Kwinana Refinery Wesfarmers & SQM $1.4bn* Lithium hydroxide looming for the global steel indus- said. rienced delays on large resources Resources, with 50,000 tonnes Mineral Resources & try, even in China. Ore quality was also increas- projects in progress, while ser- of lithium carbonate equivalent Wodgina refinery Albemarle Corporation $600m Lithium hydroxide “We think steel consumption ingly important, because lower vices were delayed or scaled back capacity to come online in 2021, Greenbushes expansion stage 3 Talison Lithium $520m Lithium concentrate will fall in the rest of the world,” grade ores were receiving steeper across its sites and productivity the company said in March. Thunderbird Sheffield Resources $478m Mineral sands STEADY: Kim Christie says Ms Christie said. discounts. would be hit. Concentrators at the Wodgina With regard to new greenfields He said the state government Contracts are still being mine, the other leg of the joint Matt Mckenzie Kwinana Refinery stage 2 Tianqi Lithium $300m Lithium hydroxide the iron ore price has held [email protected] up well in recent months. developments such as Brockman would need to streamline approv- awarded, however. venture between the two com- @Matt_Mckenzie_ Source: *combined Mining’s Marillana mine and als and potentially consider In April, Macmahon signed an panies, were shut down late last .com.au Photo: Gabriel Oliveira 6-PAGE FEATURE Flinders Mines’ Pilbara mine, she concessional royalty rates, or use early involvement agreement year, however.

HERE is no shortage of For example, public documents Koodaideri hub to 70 million BHP has to increase capacity at potential investments suggest pit closures at Hope tonnes [per annum] and beyond.” its Port Hedland iron ore facility T to follow the seven big Downs, which Rio owns 50-50 That compares to the 43mtpa by 40mtpa, to 330mtpa, while also iron ore projects now under with Hancock Prospecting, in capacity of stage one. mtpa promising to spend $300 million way in Western Australia’s Pil- 2024. The Koodaideri hub would give over five years reducing the impact bara region, as the price of the “We have a number of brown- flexibility, Mr Salisbury said, and POTENTIAL CAPACITY of iron ore dust from the port. M I steel-making commodity has field developments at or below a could potentially position Rio AT KOODAIDERI HUB Fortescue Metals Group also Australian Owned & Operated all manpower equipment and service. Rapid has Preferred Contractor status with Rio Tinto (Cat 3) defied gravity in recent months. capital intensity of $30 per tonne,” to increase production above wants to increase port capacity, & BHP Billiton. Silver Award Status with WorkSafe. All the big miners, led by Rio Mr Salisbury said. replacement levels. per cent complete at the end of by about 35mtpa to 210mtpa. Tinto, BHP and Fortescue Metals “These multiple developments Rio has three other major March. Production will begin Fortescue is approaching the Group, are evaluating new projects. make use of our operating hubs developments in construction: next year. peak of construction at the $US1.3 In an investor briefing late last – leveraging existing infra- West Angelas C&D, Mesa B,C & H, BHP achieved a historic envi- billion Eliwana iron ore project, year, Rio Tinto said it had eight structure, reducing capital and and Western Turner Syncline ronmental approval last year for while detailed engineering on its “Doing it Right” Pilbara mines in feasibility or creating optionality.” phase two. 13 new mines to be built during $US2.6 billion Iron Bridge mag- rapidcrushing.com.au/extras/crushing-screening/ rapidcrushing.com.au/extras/dam-contractors/ pre-feasibility studies, while a The one project flagged by Mr They bring the total value of the next decade and beyond, netite project passed halfway at further six were in the concep- Salisbury was a second stage Rio iron ore projects under way including Carramulla, Opthal- the end of March. tual stage. development at Koodaideri. to about $7 billion, according to mia/Prairie Downs, Mudlark, and Construction at Iron Bridge Rio’s chief executive iron ore Construction is already under the BNiQ major projects list. Tandanya. will begin in the second half of Chris Salisbury said that was on way at the $US2.6 billion stage Aside from iron ore, Rio is accel- The company has also been the year. par with the number of mines one of Koodaideri, and produc- erating the Winu copper-gold growing its nickel operations, A further, smaller project con- under consideration in 2010, and tion will ramp-up in early 2022. project in the Pilbara, drilling 124 with the Yakabindie mine com- firmed in May 2019 is the $US287 he flagged a significant period of “[W]e have multiple project kilometres of exploration in 2019. pleted and 26 tenements secured million Queen’s Valley mine. mine renewal ahead. scopes currently under study for Production is targeted for 2023. for greenfield exploration, while it Outside the iron ore space, The company will need to Koodaideri phase two,” he said. The biggest mining project has started consultation to expand Fortescue announced two pack- invest in new mines as ageing “There is the potential to under way is BHP’s $US3.6 bil- capacity at its Kwinana refinery ages of investment in new rapidcrushing.com.au/our-services/equipment-rental/ deposits deplete in coming years. increase capacity for the lion South Flank, which was 66 about 10 per cent, to 90mtpa. electricity infrastructure totalling Perth oﬃ ce: 577 Bickley Road, Maddington, Western Australia 6109 | Phone: (08) 9452 5888 | Fax: (08) 9452 5822 | Email: [email protected] | Web: rapidcrushing.com.au

16 | May 18, 2020 May 18, 2020 | 17 FEATURE

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$US700 million in the past year, with Strandline Resources for including 150 megawatts of [W]e have multiple the Coburn mineral sands pro- Big miners position for project next solar-powered generation. ject, and was awarded a $200 Majority owned by Hancock million deal for work at Silver Prospecting, Roy Hill Holdings has project scopes currently Lake Resources’ Mount Monger been given approval to increase gold mine. output at its namesake mine from 55mtpa to 60mtpa, while subsidi- under study for Koodaideri Lithium ary Atlas Iron has been awarding A big glut in production of contracts for work at Corunna phase two - Chris Salisbury lithium led to about $3 billion of Downs this year. projects being deferred in WA in Wood Mackenzie senior said the big issue was infrastruc- state agreements more actively to the past two years. research analyst Kim Christie ture investment for rail and port support new projects and get the Wesfarmers pushed back a said the iron ore price had held construction. economy moving. final investment decision on the up remarkably well, thanks to Deloitte partner Noel Richards Mount Holland mine and Kwi- consistent Chinese demand in said iron ore was the largest con- Contractors nana lithium refinery, together recent months. tributor to a total of nearly $30 Two big acquisitions will worth about $1.4 billion, until the The commodity was trading at billion of major projects under change the contracting market in March quarter of 2021. about $US85 per tonne at the time way in WA. WA, with NRW Holdings buying Tianqi Lithium completed the of writing, up by about $US4/t There was a further $122 bil- BGC’s contracting business and first stage of its Kwinana refin- from three months previously. lion of possible projects in the Macmahon Holdings taking con- ery in late 2018, but put the $300 Ms Christie said there was state including in LNG and public trol of GBF. (A new-look BNiQ million stage two on hold, while considerable infrastructure transport, according to Deloitte’s mining services list is on page 21.) Talison Lithium, co-owned by investment in the pipeline in recently released investment In the short term, contractors Tianqi and Albemarle Corpora- China for the year ahead, which monitor report. are grappling with the impact of tion, reconsidered its stage three would support steel demand, To get more marginal iron ore COVID-19. expansion of the Greenbushes although global supply had been projects moving there would need Monadelphous told the ASX mine. tight. to be long-term certainty about in May that its engineering Albemarle is still building the But there were headwinds the iron ore price, Mr Richards construction business had expe- Kemerton refinery with Mineral looming for the global steel indus- said. rienced delays on large resources Resources, with 50,000 tonnes try, even in China. Ore quality was also increas- projects in progress, while ser- of lithium carbonate equivalent “We think steel consumption ingly important, because lower vices were delayed or scaled back capacity to come online in 2021, will fall in the rest of the world,” grade ores were receiving steeper across its sites and productivity the company said in March. STEADY: Kim Christie says Ms Christie said. discounts. would be hit. Concentrators at the Wodgina the iron ore price has held With regard to new greenfields He said the state government Contracts are still being mine, the other leg of the joint up well in recent months. developments such as Brockman would need to streamline approv- awarded, however. venture between the two com- Mining’s Marillana mine and als and potentially consider In April, Macmahon signed an panies, were shut down late last Photo: Gabriel Oliveira Flinders Mines’ Pilbara mine, she concessional royalty rates, or use early involvement agreement year, however.

M I Rapid has Preferred Contractor status with Rio Tinto (Cat 3) Australian Owned & Operated all manpower equipment and service. & BHP Billiton. Silver Award Status with WorkSafe.

“Doing it Right” rapidcrushing.com.au/extras/crushing-screening/ rapidcrushing.com.au/extras/dam-contractors/

rapidcrushing.com.au/our-services/equipment-rental/ Perth oﬃ ce: 577 Bickley Road, Maddington, Western Australia 6109 | Phone: (08) 9452 5888 | Fax: (08) 9452 5822 | Email: [email protected] | Web: rapidcrushing.com.au

May 18, 2020 | 17 FEATURE MINING

SPONSORED CONTENT Typically deals get Challenges risk rejected because it’s a strategic asset … on juniors’ pipeline national interest grounds - Brett Cohen

Mr Pearce said COVID-19 had collapsed what was already a tough capital raising market for juniors, with the new FIRB rules another hurdle. WA’s restrictions on movement were Top resource companies also being felt by small miners, particularly those operating in special biosecurity team up with VC-backed regions and those headquartered outside the state. Many explorers did not qualify for the WA innovator to increase federal government’s JobKeeper wage subsidy, which is assessed on reductions in turnover, because they were not earning safety and improve revenue to begin with. Mr Pearce said there was a risk the efficiency sector would lose capability. IMPACT: Brett Cohen says the tougher FIRB restrictions will affect foreign investment. Photo: Gabriel Oliveira But he saw reasons to be optimistic over the longer term. Leading-edge mining companies are "Most recently, Roborigger was “If COVID-19 hadn’t happened we’d be in recognising Roborigger as a trialled by Monadelphous on an The second recent example, AVZ Miner- approval timeframes had been extended a really positive investor environment,” Mr must-have on their worksites to FMG shutdown at Port Hedland Tougher restrictions for securing foreign als, had struck a deal for $14.1 million with to as much as six months. Pearce said. improve the safety and efficiency of and the feedback we have received Yibin Tianyi Lithium Industry Company Another source told Business News a To support juniors, he called on the state investment is the latest hurdle for miners seeking their crane lifting operations. was 100 percent positive." for a lithium project in the Democratic move to rescue a company in liquidation government to cut tenancy rental fees. Republic of Congo. had been derailed by the FIRB rules. Longer term, there has been ongoing to develop projects. The wireless load controlling The company is now in discussions That was withdrawn because it could be Nonetheless, Mr Cohen said there had discussion about approvals processes. technology, developed by to send Roborigger units to a contrary to the national interest of grow- been examples of Chinese investments According to Department of Mines, Perth-based Roborigger Pty Ltd, won Newmont mine site in the Northern Matt Mckenzie zero, with some exemptions, and extended at 2 cents per share, a discount of nearly ing Australia’s critical minerals sector, AVZ being approved, so it did not appear to be Industry Regulation and Safety’s Septem- three awards at the WA Innovator of Territory as well as to sites in the [email protected] approval deadlines. 70 per cent. claimed. the case China was specifically targeted. ber quarter 2019 data, the processing time the Year last year with sponsors goldfields. @Matt_Mckenzie_ The original thresholds varied, but for Northern Minerals chief executive AVZ announced a new deal less than He said the government had hoped to for WA mineral tenure applications was including Rio Tinto and South32. A RECENT upswing in exploration has most non-land acquisitions were $275 mil- George Bauk told Business News he two weeks later, raising $10.6 million from protect vulnerable businesses by lower- 296 days. been thwarted in recent months as fund- lion, or $1.2 billion for non-sensitive assets accepted there was a complex environ- Yibin Tianyi. ing the FIRB thresholds, but the impact That included 169 days for federal native With Roborigger units available “We believe this incredible interest ing sources for junior miners dry up and if a trade agreement was in place. ment in critical minerals and for foreign The new deal would circumvent the had been to make funding options less title processes, 43 days with proponents, 39 commercially Australia-wide and signals the industry’s confidence in restrictions on movement to counteract “These measures are necessary to investment at the moment. FIRB approvals process as it was less than competitive. days with DMIRS, and 45 days with other being used in the commercial Roborigger, not only to the COVID-19 pandemic limit activity. safeguard the national interest as the coro- Mr Bauk said the government had rea- 10 per cent of the company and would not That would mean worse deals and a WA agencies. construction industry, founder Derick revolutionize safety but also in its Data from the Australian Bureau of Sta- navirus outbreak puts intense pressure on sons to intervene, but it put a gap in the entitle Yibin Tianyi to a board seat. more difficult recovery with reduced As at September 30, there were 3,987 Markwell said the company is now massive potential to use the tistics shows the December quarter was the Australian economy and Australian company’s ability to raise money. Clayton Utz partner Brett Cohen said access to incoming investment. applications pending finalisation, with working to gain more traction in the logged lifting data to track all the best period for mineral exploration in businesses,” Mr Frydenberg said. “When you’re amongst the small cap the new FIRB rules were having an impact A spokesperson for the Department of 1,069 completed in the quarter. mining and resources industries. logistics operation and improve the Australia in seven years. Two Western Australian miners – North- junior miners, it’s a traumatic experience,” on juniors. Treasury said there was no monthly data About 86 per cent of those finalised productivity of the lifting operation”, Almost $1.5 billion was spent on explo- ern Minerals and AVZ Minerals – publicly he said. He said the Northern Minerals example available about approvals and rejections. were within DMIRS’s target of 65 days "We have been receiving an added Markwell, highlighting that ration in the December quarter, up 53 per hit a wall with FIRB approvals in recent “The one country that has propped us could probably be distinguished because inhouse. outpouring of interest from major the internet-connected monitoring Job losses cent from the same period in 2018. weeks, while Business News understands up for the past 10 years is Chinese inves- of the sensitivities around rare earths, The Productivity Commission’s draft mining companies locally and and tracking software comes free Spending grew for five consecutive other applications have been withdrawn. tors, be it state-owned enterprises or high where China has huge market share. Association of Mining and Exploration report on regulation of resources, globally and now we're working with with all Roboriggers. quarters, although the bureau’s pre-pan- In August 2019, rare earth hopeful net worth [individuals]. He said the Baogang deal may not Companies chief executive Warren Pearce released in March, highlighted long pro- them to make sure we have the right demic numbers had anticipated a 10 per Northern Minerals announced a $20 mil- “It’s not like we’ve deliberately targeted have been approved under ordinary said the pandemic had been particularly ject approval lead times as a major issue. functionality." The built-in software collects data cent drop in the June quarter of 2020. lion share placement to Baogang Group Chinese investors … the appetite is not con- circumstances. tough on smaller resources businesses. “Project delays are costly because the from every lift including time, The data gives an indication of where Investment, a subsidiary of a Chinese sistent around the world. AVZ Minerals was a different story. A recent survey of AMEC members delay of a net revenue stream in effect "Rio Tinto is especially interested in weight, location, and image of the the image recognition we're the market might have headed. state-owned steelmaker. “The biggest damage was we had to raise “It’s an ASX-listed company but the pro- found half had ceased all exploration since leads to net revenue forgone,” the com- load being lifted. For now, the focus for some juniors is However, last month (April 20), North- money at a cheaper price.” ject isn’t in Australia,” Mr Cohen said. COVID-19 restrictions were introduced, mission said. developing for Roborigger. This survival, while others will navigate com- ern informed markets the transaction had While the federal government had sig- “Typically deals get rejected because and a further quarter had ceased most “Given the size of most resources pro- system will allow the unit to detect “This means the loads can be plex foreign investment laws to secure been prohibited by the treasurer. nalled support for critical minerals, Mr it’s a strategic asset … on national interest exploration. jects, delay costs can dwarf the direct costs personnel below the load and this tracked real-time and the efficiency investment. Instead, Northern raised $22 million Bauk said it was still developing. grounds. Nearly half of the 63 explorers surveyed of regulatory obligations such as assess- will assist with the development of of operations can be analysed and In late March, Treasurer Josh Fryden- through a placement and purchase plan. “Equity markets are very skeptical of He said there were examples of overseas had laid off staff or expected to do so in ment documentation and studies, even improved lifting practices." improved.” berg dropped the threshold for Foreign While the Baogang deal had been priced these initiatives; they’re waiting to see investors making inquiries about invest- the next six months, while 74 per cent said though these often run into millions of Investment Review Board evaluations to at 6.2 cents per share, the new raising was rubber on the road,” he said. ments and backing away because FIRB their cash reserves would not last the year. dollars.” www.roborigger.com.au

18 | May 18, 2020 May 18, 2020 | 19 FEATURE MINING

SPONSORED CONTENT Typically deals get rejected because it’s a strategic asset … on national interest grounds - Brett Cohen

May 18, 2020 | 19 NEWSFEATURE & ANALYSIS MINING Investors keep faith in gold Gold producers and explorers are undertaking capital raisings and project expansions amid record recent prices.

Gold price

1,800 – Source: .com.au 1,700 – 1,600 – 1,500 – 1,400 – Price ($US) Price 1,300 – 1,200 – 1,100 – Jul 17 Jan 18 Jul 18 Jan 19 Jul 19 Jan 20

MOVEMENT: De Grey Mining is progressing exploration programs at its Mallina project after raising $31.2 million last month. Photo: De Grey Mining

Jessica Mascione strong interest in the place- increase its ore reserves within [email protected] ment, despite current market the current 3 million ounces min- conditions. eral resource. De Grey is now well funded to AUSTRALIA’S gold sector has “This strong outcome reflects Fellow junior De Grey Mining is continue its exploration programs proved resilient during the coro- the market’s confidence in the seeking to develop its Mallina gold navirus pandemic, with prices up growth pathway we have mapped project in the Pilbara, with the into the foreseeable future - Simon Lill 12 per cent since the beginning out, which will see Red 5 evolve next stage of exploration prior- of January, outperforming most into a multi-asset, mid-tier gold itising new gold discoveries at the “The recent Hemi discovery Antipa’s wholly owned Wilki other minerals. producer over the next two Hemi and Antwerp Trend targets. also highlights the outstanding project, committing an initial $6 Aside from a few glitches, the years,” he said. De Grey, which launched a $31.2 exploration potential De Grey million on exploration within gold price has been on a con- Mr Williams said KOTH was million capital raising last month, has across our tenements, with two years. sistent upward trajectory for one of Australia’s leading emerg- has upgraded its mineral resource the market also now giving The goldminer has the option the past 18 months, with an all- ing gold mines, having been estimate for the Mallina project recognition to our existing 2.2 to spend a further $10 million time high gold price in recent purchased from Saracen in 2017. from 1.7 million ounces to 2.2 mil- million ounces of resources. within five years to gain a 51 per weeks that has helped producers Horizon Minerals’ Boorara gold lion ounces of gold at an average “De Grey is now well funded to cent interest in Antipa, as well as make attractive margins, expand mine in Western Australia is also grade of 1.8 grams per tonne. continue its exploration programs a further $44 million within eight existing mines, and develop new on its way to first gold produc- Chairman Simon Lill said into the foreseeable future.” years to earn a 75 per cent joint projects. tion, with the company recently the Subiaco-based explorer Pilbara-focused explorer venture interest. Saracen Mineral Holdings, contracting Hampton Mining and had received numerous offers Antipa Minerals has also received Earlier this year, Rio Tinto which owns 50 per cent of the Civil to complete open-pit mining to participate in a capital rais- interest from major investors, invested $11 million to explore Kalgoorlie Super Pit, sold 165,798 and haulage works at the site. ing or direct investment since announcing farm-in deals with Antipa’s Citadel copper-gold pro- ounces of gold at a record aver- Horizon expects first ore announcing the Hemi discovery Newcrest Mining and Rio Tinto ject, also located in the Paterson. age price of $2,228/oz during production this month, which in February. earlier this year. London-based Rio will increase the March quarter, while Red 5 managing director Jon Price said He said the capital raising, Antipa is focused on explor- its stake in the Citadel joint ven- launched a $125 million capital was a significant achievement including a $5.1 million invest- ing WA’s prospective Paterson ture to 65 per cent with a further raising last month to progress a given the record high gold prices. ment from De Grey’s 16 per cent Province, which is also home to $35 million investment before final feasibility study for its King Meanwhile, junior Bardoc shareholder DGO Gold, validated Newcrest’s Telfer gold mine and Rio 2022. of the Hills (KOTH) gold project Gold is on its way to completing the quality of the Mallina project. Tinto’s Winu copper-gold discovery. That includes $9.2 million to be in Leonora. a definitive feasibility study at “We recognised the opportunity Newcrest is currently explor- spent on exploration this year, as Red 5 is targeting a bulk mining its namesake gold project in WA, to secure further funding and to ing the southern portion of announced by Antipa last month. operation at its 4 million ounce with completion targeted for the build a strong register to assist first quarter of 2021. with funding requirements into Saracen Mineral Holdings KOTH project, with the final fea- .com.au Chief executive Robert Ryan the future through the introduc- sibility study due in September. Managing director Mark Wil- said recent optimisations were tion of global blue chip gold only There are 229 results from our index of 102,922 articles, liams said investors had shown showing signs the company could and resource funds,” Mr Lill said. 10,179 companies and 38,333 people 20 | May 18, 2020 May 18, 2020 | 21 NEWSFEATURE & ANALYSIS MINING MINING FEATURE

.com.au WA’S LARGEST MINING SERVICES COMPANIES Investors keep faith in gold Ranked by mining services staﬀ in WA Gold producers and explorers are undertaking capital raisings and project expansions amid record recent prices.

Gold price

1,800 – Source: .com.au 1,700 – 1,600 – 1,500 – 1,400 – Price ($US) Price 1,300 – Photo: Ausdrill 1,200 – Offi ces 1,100 – Year a) WA Mining Jul 17 Jan 18 Jul 18 Jan 19 Jul 19 Jan 20 est. in b) inter- services staff Rank Company name Senior executive and title WA state in WA Services off ered

Mr Jarvas Croome Authorised Caterpillar dealer, machinery and construction equipment, ﬁ nance, maintenance and resale services. 1 WesTrac Chief Executive 1989 2,500 Macmahon Mr Michael Finnegan 1964 a) 2 2,212 Open cut, underground, drilling and blasting, loading and haulage, crushing and screening, mine management, portal 2 Holdings Managing Director b) 2 establishment, cablebolting, shotcreting. Mr Paul Muller Hard rock underground mining. High speed development, production, diamond drilling, vertical development, equipment 3 Barminco Chief Executive 1989 a) 2 1,650 supply and maintenance, mine design and planning.

Mr Steve Coughlan a) 1 4 Byrnecut Executive Chairman 1987 b) 1 NFP Underground mine development and production.

5 MACA Mr Chris Tuckwell 2002 a) 1 1,491 Open cut, drilling and blasting, loading and haulage, crushing and screening. MOVEMENT: De Grey Mining is progressing exploration programs at its Mallina project after raising $31.2 million last month. Photo: De Grey Mining Managing Director b) 1 Preventative maintenance, rapid response teams, shutdown services, field maintenance services, rostered support, drill 6 Perenti Global Mr Mark Norwell 1987 1,148 support teams, mader clean team (mobile plant), fabrication and line boring specialists, automotive and high voltage Jessica Mascione strong interest in the place- increase its ore reserves within Managing Director electrical specialists... [email protected] ment, despite current market the current 3 million ounces min- Open cut and underground mining including mine planning and design, blasting services (through subsidiary DBS), tyre Mr Mike Sutton a) 1 conditions. eral resource. De Grey is now well funded to 7 Downer Chief Operating Offi cer of 1968 900 management (through subsidiary Otraco International), asset management – mining fleets, civil projects – mine site Mining, West b) 2 infrastructure, crushing, exploration drilling, mine reclamation and land rehabilitation (through the ReGen business)... AUSTRALIA’S gold sector has “This strong outcome reflects Fellow junior De Grey Mining is continue its exploration programs Mr Patrick Conway a) 2 Preventative maintenance, rapid response teams, shutdown services, fi eld maintenance services, rostered support, drill proved resilient during the coro- the market’s confidence in the seeking to develop its Mallina gold 8 Mader Group 2005 800 support teams, Mader Clean Team (mobile plant), fabrication and line boring specialists, automotive and high voltage Chief Executive Offi cer b) 4 electrical specialists... navirus pandemic, with prices up growth pathway we have mapped project in the Pilbara, with the into the foreseeable future - Simon Lill Mr Abdul Jarrah 12 per cent since the beginning out, which will see Red 5 evolve next stage of exploration prior- Mining contracting, asset management, life-of-mine design, construction and commissioning of civil infrastructure and 9 Thiess Executive General Manager, 1962 NFP processing facilities, decommissioning and rehabilitation design and planning. of January, outperforming most into a multi-asset, mid-tier gold itising new gold discoveries at the “The recent Hemi discovery Antipa’s wholly owned Wilki Australia & Pacifi c other minerals. producer over the next two Hemi and Antwerp Trend targets. also highlights the outstanding project, committing an initial $6 SRG Global Mr David Macgeorge 1961 a) 7 600 Drill and blast, ground support, scaffold and access solutions. Aside from a few glitches, the years,” he said. De Grey, which launched a $31.2 exploration potential De Grey million on exploration within 10 Managing Director b) 7 gold price has been on a con- Mr Williams said KOTH was million capital raising last month, has across our tenements, with two years. one of Australia’s leading emerg- has upgraded its mineral resource the market also now giving The goldminer has the option Mr Stephen Eastbrook sistent upward trajectory for 11 Breight Group Managing Director 2007 a) 5 565 Breight Group offers access, mechanical and renewables services to the resources industry. the past 18 months, with an all- ing gold mines, having been estimate for the Mallina project recognition to our existing 2.2 to spend a further $10 million time high gold price in recent purchased from Saracen in 2017. from 1.7 million ounces to 2.2 mil- million ounces of resources. within five years to gain a 51 per Mr Jules Pemberton a) 1 Mining contractor services provided include ore and waste mining, load and haul, drill and blast, rehabilitation, crusher 12 NRW Holdings Managing Director 1994 b) 3 NFP feeding and related ancillary services. weeks that has helped producers Horizon Minerals’ Boorara gold lion ounces of gold at an average “De Grey is now well funded to cent interest in Antipa, as well as mine in Western Australia is also grade of 1.8 grams per tonne. continue its exploration programs a further $44 million within eight make attractive margins, expand Westgold Mr Anthony Buckingham on its way to first gold produc- Chairman Simon Lill said into the foreseeable future.” years to earn a 75 per cent joint 2016 a) 1 500 Mining contracting services. existing mines, and develop new 13 Resources Chief Executive projects. tion, with the company recently the Subiaco-based explorer Pilbara-focused explorer venture interest. contracting Hampton Mining and had received numerous offers Antipa Minerals has also received Earlier this year, Rio Tinto Ms Rebecca Reeves a) 1 Saracen Mineral Holdings, 14 Holcim General Manager b) 3 500 Concrete, aggregates, precast, mobile concrete services which owns 50 per cent of the Civil to complete open-pit mining to participate in a capital rais- interest from major investors, invested $11 million to explore and haulage works at the site. ing or direct investment since announcing farm-in deals with Antipa’s Citadel copper-gold pro- Hampton Mining Kalgoorlie Super Pit, sold 165,798 15 2003 a) 2 400 Open pit mining, ore haulage, heavy equipment hire, heavy haulage, potable water, drill and blast, crushing and screening, ounces of gold at a record aver- Horizon expects first ore announcing the Hemi discovery Newcrest Mining and Rio Tinto ject, also located in the Paterson. and Civil road construction and maintenance production this month, which in February. earlier this year. London-based Rio will increase age price of $2,228/oz during RUC Cementation Mr Barry Upton Mechanised mining, shaft sinking, large excavations, underground construction, specialist ground support and grouting, managing director Jon Price said He said the capital raising, Antipa is focused on explor- its stake in the Citadel joint ven- 1991 a) 2 NFP the March quarter, while Red 5 16 Mining Contractors Managing Director boxhole boring, raise drilling and Shotcrete. launched a $125 million capital was a significant achievement including a $5.1 million invest- ing WA’s prospective Paterson ture to 65 per cent with a further given the record high gold prices. ment from De Grey’s 16 per cent Province, which is also home to $35 million investment before Swick Mining raising last month to progress a Mr Kent Swick 2004 a) 1 350 Drilling contracting, specialising in underground diamond coring and surface reverse circulation drilling. 17 Services Managing Director final feasibility study for its King Meanwhile, junior Bardoc shareholder DGO Gold, validated Newcrest’s Telfer gold mine and Rio 2022. Gold is on its way to completing the quality of the Mallina project. Tinto’s Winu copper-gold discovery. That includes $9.2 million to be of the Hills (KOTH) gold project Tasman Rope 18 Mr Brendan Halstead 2015 a) 1 350 Comprehensive rope access maintenance services for short or long term shutdowns and projects; effi cient means of access to in Leonora. a definitive feasibility study at “We recognised the opportunity Newcrest is currently explor- spent on exploration this year, as Access General Manager b) 2 diffi cult to reach areas of critical fi xed plant equipment… its namesake gold project in WA, to secure further funding and to ing the southern portion of announced by Antipa last month. Red 5 is targeting a bulk mining 19 operation at its 4 million ounce with completion targeted for the build a strong register to assist first quarter of 2021. with funding requirements into Saracen Mineral Holdings GET THE FULL LIST ONLINE businessnews.com.au/bniq/mining-services KOTH project, with the final fea- .com.au Chief executive Robert Ryan the future through the introduc- sibility study due in September. 113 Managing director Mark Wil- said recent optimisations were tion of global blue chip gold only There are 229 results from our index of 102,922 articles, All information compiled using surveys, publicly available data and contact with industry sources. Other companies may be eligible for inclusion. If you believe your company is eligible, please email: [email protected] WND: Would Not Disclose, NFP: Not For Publication, N/A: Not Applicable or Not Available. liams said investors had shown showing signs the company could and resource funds,” Mr Lill said. 10,179 companies and 38,333 people 20 | May 18, 2020 May 18, 2020 | 21 FEATURE MOST INFLUENTIAL

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Gold companies make progress on WA mines Diamond mine workers paid in full 12 May 2020 by Jessica Mascione 16 Apr 2020 by Business News Bardoc is targeting mining at its Kalgoorlie project for the third quarter of Kimberley Diamonds and its diamond mine in Ellendale were placed into 2021. Photo: Bardoc ... Gold Jessica Mascione Mining Josh Frydenberg should administration in August ... 2015. Business News Mining The state government have been unveiling the commonwealth’s first ... a plan.” Horizon Minerals has this morning announced that it is encouraging ... Bardoc Gold Hampton Mining and Civil Jonathan Price Robert Ryan ... Tronox defers WA mine, opts for NSW expansion Mining exploration grinds to a halt 10 Mar 2020 by Mark Beyer 06 May 2020 by Ben Pattison Mark Beyer Mining Mineral sands miner Tronox has decided to proceed with Pattison Mining An Association of Mining & Exploration Companies survey has a new mine in NSW, leaving its ... two prospective Western Australian mines found that 74 per cent of ... dire consequences for the exploration industry in near Dongara and Cervantes in the development queue. The New ... York-based Australia, and for the ability of Australia’s mining ... recovery.” With mining company has chosen to spend $US144 million ($A218 million) developing its royalties key in providing income for state and federal treasuries, a galvanised Atlas-Campaspe mine ... and ... Medusa reports mine site fatalities Chalice Gold Mines, Mandrake Resources share prices soar 27 Feb 2020 by Business News 15 Apr 2020 by Madeleine Stephens The two employees were killed during a rockfall at the underground Co-O gold Chalice Gold Mines’ Julimar Nickel-Copper-Palladium project is located about mine. Business News ... News Mining Westpac has permanently appointed 70kms north-east ... of Perth. Madeleine Stephens Mining Panoramic Resources Peter King as chief executive on a $2.4 million salary ... 25, but had fallen to has announced the temporary closure of its ... Savannah nickel mine in the East $15.96 at 1022 AEDT. Medusa Mining ... Kimberley. The move makes Savannah the second mine in Western Australia to ... WA tops global mining destinations 27 Feb 2020 by Business News Panoramic Resources closes struggling mine Mining Westpac has permanently appointed Peter King as chief executive 15 Apr 2020 by Ben Pattison on a $2.4 million salary with ... 25, but had fallen to $15.96 at 1022 AEDT. Panoramic Resources closes its Savannah nickel mine due to coronavirus and Department of Mines Industry Regulation and Safety Fraser ... operational issues. Ben ... Pattison Mining Mining The value of Perth’s houses increased 0.5 per cent in the month of March, ... Panoramic Resources Medusa Mining Northern Minerals Victor Rajasooriar ... Swick Mining launches strategic review 25 Feb 2020 by Business News Swick has declared a fully franked interim dividend of 0.3 cents per share. businessnews.com.au Photo: Swick Mining ... Services Business News Mining Westpac has permanently appointed Peter King as chief executive on a $2.4 ... at $29.05 on October 25, but had fallen to $15.96 at 1022 AEDT. Swick Mining Services Shaw and ...