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Australia's Paydirt June 2015

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Published by Paydirt Media, 2016-04-26 23:06:12

Paydirt June 2015

Australia's Paydirt June 2015

Keywords: Mining Magazine,Paydirt,Australia's Paydirt

June 2015 VOLUME 1. ISSUE 228 $11.95


front and back cover
supplied seperately

Back into the light:
Embattled miners re-emerge

• Scandinavia • New South Wales • Copper focus

• International Services Directory ISSN 1445-3436

9 771445 343007


PAYDIRT (ISSN 1445-3436) 5 NEWSThe biggest rumour in the Australian
Published by
Paydirt Media Pty Ltd. resources sector was confirmed as fact
A.C.N. 063 985 133 in late May when Independence Group
Head Office: Ltd confirmed it would launch a full bid
Suite 9, 1297 Hay St, West Perth for Sirius Resources NL. The deal will
Western Australia 6005 see Independence become a confirmed
P.O. Box 1589, West Perth mid-tier mining player. Rhys Dickinson
Western Australia 6872 was on hand to report on reaction from
Phone: (+61 8) 9321 0355 both camps
Facsimile: (+61 8) 9321 0426
[email protected] 18 COVER 5 Mining companies are doing it tough 18
and there is no shortage of ASX-listed 36
Editorial: resources outfits facing administration.
Editor: Dominic Piper However, there have been a few – name-
Deputy editor: Mark Andrews ly Mirabela Nickel Ltd and St Barbara
Journalists: Michael Washbourne, Ltd – which have been able to turn their
Rhys Dickinson fortunes. Mark Andrews gets an insight
Graphics: Marian Noonan into how they managed to stay relevant
Contributors: in today’s game and if there is hope for
Keith Goode (Sydney), Brendan Ryan other battling companies
Advertising: 36 INTERNATIONAL
Advertising executive: Tony Mwarey SERVICES
Subscriptions: Magda Thibaut Paydirt’s third annual International Ser-
Phone: (+61 8) 9321 0355
Facsimile: (+61 8) 9321 0426 vices Directory features Australian and
Pre-press and printing:
Vanguard Press 26 John St, international METS companies plying
Northbridge WA 6003
Member of: their trades around the world, including

Paydirt Media mineral rich regions such as Africa and
Executive chairman: Bill Repard
Finance manager: Giovanny Jefferson Latin America
Heather Melling 54 NEW SOUTH WALES
Conferences: Tammy Caldwell, The coal seam gas debate continues in
Melita Fogarty New South Wales, however, it appears
metals explorers and miners in the State
Cover image: Volatile commodity are getting on with what they do best.
prices and uncertain global economic While capital markets are constrained,
conditions have made it tough for many junior explorers have remained ac-
mining companies, however, there are tive in the field courtesy of state govern-
some seeing a new light ment grants. Paydirt takes a look at the
mining and exploration stories emerging
Member of: in NSW
Registered by Australia Post PP 643938/0071.
No pages or articles in this publication may be 66 COPPER
reproduced in any form without the consent of Amidst the rollercoaster ride that is the
the publisher. This includes photographs either global commodities market, copper has
taken by Paydirt Media staff or provided by other held a relatively steady course compared
parties to its peer metals. However, predicting
where the red metal will stand in the near
future has experts divided. Nevertheless,
copper explorers remain hopeful and
producers bullish on a brighter future. We
take a look at some of the leading copper
players on the ASX


Civil wars and
playground spats

The iron ore civil war istruly in full swing. to be too important to Chinese steel makers to be allowed to fail but too
On one side Fortescue Metals Group small to have an adverse effect on the majors’ own expansion strate-

Ltd has launched its PR attack and has gies.

seemingly been successful over the first The argument that BHP Billiton and Rio Tinto are now flooding the

few skirmishes. Expertly crafted and market is hardly a compelling one when their expansion plans have

timed to perfection ahead of the Fed- been flagged for a decade.

eral and WA State budgets, FMG’s push It is a romantic notion that Andrew “Twiggy” Forrest is once again

quickly gained momentum and has al- giving it to the big boys but what may appear to be a civil war is in reality

ready drawn tacit support from senior not much more than a playground spat.

Federal Cabinet members, including the Treasurer Joe Hockey. Even Forrest, the smaller kid, had pestered the Government for years to al-

low him to play with the big boys. Now, after getting his way and receiv-
ing a bloody nose in the process, he is asking the teachers to punish the

bigger kids for it.
The fallout from iron ore’s down-

fall could also have lasting impli-
cations for the rest of the junior
resources sector.

As the crash in iron prices came,
Prime Minister Tony Abbott told Sydney radio host Alan Jones that an
inquiry was needed to ensure there was no “predatory behaviour by the FMG, Atlas Iron Ltd and BC Iron
major miners”. Ltd did not find themselves com-

Abbott has since distanced him-

Forrest, the smaller kid, hadself from the need for an inquiry

and has been joined by Industry

pestered the Government forMinister Ian Macfarlane and Trade

“years to allow him to play with theMinister Andrew Robb in casting
doubt about the merits of a par- big boys. Now, after getting his way
liamentary inquiry. Even the West and receiving a bloody nose in the peting against other junior iron ore

Australian Premier, Colin Barnett,

has suggested an inquiry would be process, he is asking the teachers miners from around the world but
misguided. with the very majors they claimed

In the opposite trenches, BHP to punish the bigger kids for it. not to be in competition with.
Billiton Ltd and Rio Tinto Ltd have If the largest of the juniors,
been strong in their immediate re- “The argument that BHP
buttal to FMG’s claims. In a memo Billiton and Rio Tinto FMG, can run into such trouble so
to staff reproduced in The Australian in are now flooding the market is quickly, what chance have other
May, Rio Tinto iron ore chief executive hardly a compelling one when ambitious juniors got of making the
Andrew Harding said claims of manipu- leap towards the mid-tier when they will
lation were “totally unfounded”. their expansion plans have eventually find themselves competing
been flagged for a decade. with the majors?
“We operate in a highly competitive Investors, wary about a company’s
global market where over the last dec- ability to compete, will no longer be
ade our market share has remained sta- assessing juniors’ projects to those of
ble at 20%,” Harding said. “Since 2004 their peers but for their robustness in
the biggest three global iron ore pro- an oversupplied market. If an increase
ducers have added 396mt to seaborne in supply from the majors can have

markets while new entrants have added such an effect on the fortunes of iron

a greater amount - 401mt.” ore miners, would there not be similar

BHP Billiton chief executive Andrew Mackenzie was adamant the ramifications for companies trying to establish themselves as mid-tier

calls for a parliamentary inquiry would reveal little. copper, coal, mineral sands or even potash producers?

“This is a ridiculous waste of taxpayers’ money on providing a basic

economics course on supply and demand,” he told ABC Radio National Elsewhere, capital markets for the junior sector are slowly beginning

Breakfast. to be prised open. I write this column from Sydney where conversations

“It is something that will be an additional burden on the backs of busi- with some high profile investors indicate money is becoming available

ness to distract us from growing profitability and paying more taxes. once again.

[It’s] red tape, pure and simple.” Recent weeks have seen a number of large capital raisings and debt

The divisiveness of the debate is causing further headaches for Aus- funding packages announced and it seems investors are looking on jun-

tralian politicians always looking to ride the prevailing winds. ior miners more favourably.

However, that the Abbott Government was prepared to risk the coun- The focus will be on quality of management, not blue sky potential.

try’s investment image by entertaining such an idea betrays the pain the Inevitably, that’s bad news for the sprinklers out there but good news for

fall in iron ore prices is causing to government budgets. those companies with a clear focus for quality projects.

The problem for the Government and FMG however is, as Mackenzie

suggested, that an inquiry will demonstrate nothing other than what we

already know; the iron ore market is open and free and while the majors

dominate supply, they do not manipulate pricing.

That the Government would risk its international image on such a

clear cut issue is beginning to dawn on senior Cabinet ministers.

There is much to sympathise with FMG’s plight but ultimately the cur-

rent situation the iron ore industry finds itself in comes as no surprise.

The FMG investment case was based on claims of offering an alterna-

tive to the majors and their supply of iron ore. Essentially, they claimed [email protected] @DominicPiper



Independence takes
Sirius gamble

It might have been one of the worst kept se- which has a 34.59% interest in Sirius, said in
crets of 2015, but the gravity of Independence the absence of a superior offer, he intended to

Group NL’s bid to take over Sirius Resources vote in favour of the Independence takeover

Ltd is now laid bare for all to see – and behold. and S2 demerger.

The deal, which will create a new mid-tier “This transaction brings together the pro-

Australian mining powerhouse worth upwards ducing assets of Independence and the near

of $2.7 billion, values Sirius and its burgeon- production asset of Sirius,” Creasy said.

ing Nova-Bollinger nickel asset at a whopping “The combination of current and future

$1.81 billion; a 35% premium to the compa- cash flows and diversification of commodities

ny’s $3.24/share price at the time of exchange will create a substantial producer that will bet-

and 46% premium to the company’s average ter be able to manage any increase in volatility

price over the past month. and commodity markets. There will be opera-

The proposed transaction would comprise tional efficiencies given the close proximity of

a combination of cash totalling close to $215 the WA assets of the parties in the southern

million and shares, specifically 0.66 Inde- part of the Eastern Goldfields. The extensive

pendence shares for every one Sirius stock. Peter Bradford mining experience of Independence will be of

Sirius managing director Mark Bennett and additional benefit in the development of the

non-executive director Neil Warburton will stated strategy of building a diversified min- Nova-Bollinger project. Further, the share-

also join Independence’s board should the ing company with a balanced portfolio of ex- holders of the merged entity will be exposed

deal get the shareholders’ tick of approval. ploration, development and producing assets, to the unrealised exploration potential of both

Sirius’ shares skyrocketed on the back of focusing on high margin and long synergies the Fraser Range and the Tropicana belts.”

the announcement, reaching 20% to $3.98 at and cost efficiencies across a dominant land Commenting on the state of the nickel mar-

the time of print. holding position,” Bradford said. ket, Bradford said: “The nickel price is cur-

In addition to the main deal, Sirius will “The transaction is significantly NAV ac- rently at a level which is at a historical low
undertake a demerger of its Polar Bear and
Scandinavian exploration as- point when you look at it in a 10-year context
sets, which includes its recent and we believe strongly in the
principle that if you are going to
The combination of currentBaloo gold discovery. transact you are better off doing
The demerger scheme allows it at the bottom of the price cy-
cle. We believe the fundamen-
and future cash flows andSirius shareholders to retain full tals of the nickel market support

“diversification of commodities willrights to the value and upside
cretive for Independence shareholders. We

of those assets in a new ASX- create a substantial producer that will an upward movement in the
listed vehicle to become known better be able to manage any increase price”.

at S2 Resources Ltd, which will Bennett believed the medi-

be led by Bennett. in volatility and commodity markets. um term outlook for nickel was
As part of the Independence positive.

deal, Sirius shareholders will “The timing of the develop-

earn one S2 share for every 2.5 ment of Nova, which is still as

Sirius shares held and S2 will receive roughly are also delighted that Mark Bennett and Neil previously disclosed, currently synchronises

$22 million upon listing on the ASX. Warburton have agreed to join the Independ- with the period in which all analysts still be-

Bennett said the arrangement was a win for ence board and believe their skillsets will be lieve that the nickel price will be strengthen-

Sirius and its backers. of significant value to Independence going ing.”

“The board and management of Sirius have forward.” – Rhys Dickinson
full confidence in the ability of (Independence Mark Creasy, who heads the Creasy Group

chief executive and managing director) Peter

Bradford and the Independence team to drive

the combined company’s projects forward

and create significant value for shareholders,”

he said.

“The combination of the Sirius develop-

ment and Independence operational teams,

together with their joint exploration experi-

ence, will be unrivalled.”

Bradford, who suggested the buyout would

be funded by way of cash from Independ-

ence’s balance sheet and possibly a new cor-

porate debt facility, said the transaction would

give his company an “outstanding and rapidly

growing production profile, a strong balance

sheet and excellent current and future cash

flows”. Independence Group has launched a friendly takeover bid for Sirius and

“The acquisition of Sirius continues our its Nova-Bollinger nickel project



Agrimin to harvest attention

With Highfield Resources Ltd Agrimin hopes to release a scoping study from Lake Mackay in Western Australia this year
garnering worldwide attention
for its $101 million capital raising, it “Highfield’s announcement makes it a only three primary producers of SOP in the
is perhaps a good time for others in standout project in a pretty tough resources world: SDIC’s Luobupo operation in China,
the fertiliser space to hit the ground market and it has to shine a spotlight on pot- Compass Minerals Great Salt Lake, Utah, and
and share in the limelight. ash in general,” Agrimin chief executive Mark SQM’s Salar de Atacama project in Chile.
Savich told Paydirt.
In fact, Highfield’s announce- Finding a gap in the market is one thing;
ment in May followed some other “We have seen a number of deals done proving up a viable project and then market-
big deals in the space this year, around the world and I think investors will start ing and promoting its niche product are even
with Israel Chemicals Ltd (ICL) greater challenges for SOP players like Ag-
successfully bidding $US102 mil- paying more attention rimin.
lion for Ethiopian potash hopeful, to the sector but for us
TSX-listed Allana Potash Corp. we are still very early The total 64 mtpa global potash market is
stage and we have the largely comprised of muriate of potash (MOP)
Furthermore, private equity firm work ahead of us.” or potassium chloride, however, there is grow-
EMR Capital Resources pledged ing evidence which suggests the detriment of
to support Canadian sulphate of After pegging the chloride to soils and how much more efficient
potash (SOP) player, EMP Min- Mackay tenements using SOP is.
ing Ventures with $C85 million (in covering 2,457sq km
three tranches upon certain mile- on the WA/Northern “In different parts of the world [potash] is
stones being reached) for the de- Territory border 10 better understood, obviously Australia doesn’t
velopment of its Sevier Playa pro- months ago, Agrimin produce potash at all so this is completely
ject in Utah. has just completed new. We are aiming to be the first potash ex-
the approvals pro- porter in Australia. Even if you look across
While the aforementioned potash projects cess which opens the to the TSX, the much larger market is MOP
are much more advanced than Agrimin Ltd’s door for drilling to start and in some ways I guess SOP is in the shad-
Mackay SOP project in Western Australia, the soon. ows, but with the price actions lately [about
Perth-based company has designs on be- $US700/t at the time of print] it has really
coming Australia’s first potash exporter and On a budget of strengthened and we are getting more and
hopes to benefit from the recent groundswell about $1 million, Ag- more attention in the sector,” Savich said.
of activity in the fertiliser sector. rimin plans to com-
plete 44 infill and “This year we aim to do a drilling pro-
extensional aircore gramme and produce a scoping study to de-
holes to depths up to risk the project in many ways and give us key
30m. parameters for all the main areas of the pro-
cess and operation.”
A shallow drilling
programme complet- GHD has already been engaged to conduct
ed in 2009 showed 24 a transport study, with the preferred route of
holes ended in min- using road and rail facilities from Mackay to
eralisation but did not Darwin via Alice Springs estimated to cost
extend beyond 2.7m. $141/t.

Nevertheless, an More detail around costs will be known in
inferred resource of the scoping study on Mackay, which Savich
22.2mt SOP has been said bears similarities to Rum Jungle Re-
calculated, which rep- sources Ltd’s Karinga project in NT and Re-
resents one of the ward Minerals Ltd’s Lake Disappointment
largest brine-hosted project in WA.
SOP resources in the
world. – Mark Andrews

Currently, there are



Ramatlhodi reneges on
Chamber agreement

The pretence that the South African The Chamber added that, “For the
Government and the country’s min- Government to be shifting the goal

ing industry shared a “spirit of under- posts mid-stream and for stakehold-

standing and co-operation” finally went ers to continue to incorrectly accuse

out the window on May 14 when Minister the industry of non-compliance is both

for Mineral Resources Ngoako Ramatl- damaging to trust and investment in

hodi reneged on a key agreement with the mining sector.”

the Chamber of Mines. Strong stuff from the Chamber and

For years senior chamber execu- yet another blow to the country’s in-

tives have maintained that “behind the vestment image because of the further

scenes” things were being worked out uncertainty for investors created by the

constructively with government over politicians and regulators.

the many points of conflict in the regu- But why would Ramatlhodi do some-

lation of the industry, particularly the thing like this? And, let’s face it, there

vexing issues of black economic em- have been a number of examples of

powerment (BEE) and corporate social such “about turns” on mining policy

responsibility (CSR) to communities. over the past decade which have

This was in spite of repeated in- ratcheted up the country’s investment

stances where mining companies were Ngoako Ramatlhodi risk profile.
attacked publicly by government min- The closest I have seen to a decent

isters and bureaucrats and their executives powered, always empowered” which essen- explanation was given during a presentation

“slagged off”. tially concerned whether you had to replace in March this year at a Fossil Fuel Foundation

The most notable example had to be the your BEE partner when he cashed in his chips conference by Gordon Mackay – shadow min-

spate of attacks on Anglo American Plati- and moved on. ister for energy in the Democratic Alliance –

num plc (Amplats) and the downright insult- The Chamber believed “no” – once em- which is the main opposition party to the ANC

ing criticism of its chief executive Chris Grif- powered, always empowered – but the DMR in the South African parliament.

fith by former Minister for Mineral Resources reckoned the mining company had to bring in According to Mackay, “There are very dis-

Susan Shabangu when Amplats announced another partner to maintain its BEE creden- tinct schools of thought within the ANC; one

it intended restructuring its operations, which tials. which is more socialist and centrist and one

would result in thousands of retrenchments. You may recall my last column covered this which is more market orientated. This con-

Chamber executives simply brushed aside describing Ramatlhodi as “a Minister of Min- stant incoherence within the ANC on its own

comments by detractors – such as this col- eral Resources with some common-sense!” policies is a key failure.

umnist – that this so-called “spirit of co-op- Ok, so I got that one wrong. I have con- “There is a lack of policy coherence be-

eration” was not readily apparent to outside ceded that I am not “the sharpest knife in the cause of the difference between the National

observors. I was told that I did not know what drawer”. Democratic Revolution (NDR) – the far left of

The Chamber went ballistic and immediate- the ANC – versus the National Development
was really going on behind the scenes. Plan (NDP) which is the official
Oh yeah? I may not be “the document of the Government, but
it is the NDR that is constantly trot-
sharpest knife in the drawer” ted out in parliament.”
but on this one I was pretty sure Mackay was talking specifically
about the Government’s energy is my considered opinionI had it right. Too many well- policy and the conflict between
that the ANC simply does notplaced executives were telling

me “off the record” that things

“trust the mining industry on hard-were not going well.
The meeting called at short core ideological grounds and that the Department of Energy and the

notice on May 14 by the De- attitude is poisoning its relationship Department of Public Enterprises
partment of Mineral Resources with the country’s mining companies. regarding the running of Eskom

(DMR) was ostensibly about but his comments have the “ring of
government concerns over the truth” when it comes to the convo-

level of retrenchments in the luted history of the country’s min-

mining industry, but Ramatlhodi ing legislation.

also used the occasion to publish the results ly released its own version of the level of BEE I would take it further. I am no political sci-

of a DMR survey into BEE ownership in the ownership in the mining sector. entist but having reported on the mining in-

mining sector. It fumed that, “The Chamber states un- dustry since 1982 – which is 12 years before

He was not supposed to do that. The DMR equivocally that it is unhappy with the rushed the ANC came to power – it is my considered

and the Chamber had agreed on March 31 Migdett [Mining Industry Growth, Develop- opinion that the ANC simply does not trust

that the results would be withheld until the ment and Employment Task Team] process the mining industry on hard-core ideological

outcome of a joint approach to the courts to on the DMR’s Mining Charter progress report. grounds and that attitude is poisoning its rela-

get a declaratory order to settle differences The Migdett process has been rushed and tionship with the country’s mining companies.

of opinion on “the ownership element of the does not adequately cover the key principles Brendan Ryan is a Johannesburg-based mining

Mining Charter”. of fairness, transparency and effective stake- writer

Specifically – the Chamber and the DMR holder engagement, which are the traditional

had clashed heads on the issue of “once em- hallmarks of the Migdett process.”



Mining driving Queensland

It has been a difficult time for the Australian
mining industry, with each state and territory
facing a different set of challenges to promote

its own sector.

While shaping policy to attract investment

and provide miners and explorers with fair

value for their contribution to the economy is

somewhat in the hands of governments, con-

trolling commodity prices certainly isn’t.

However, some Queensland miners have

responded to the current environment accord-

ingly, with the Queensland Resources Coun-

cil’s State of the Sector report, released in

May, indicating 43% of its members were op-

erating in the lowest cost quartile compared

with 19% a year ago, while 20% of oil and gas

operations were in the bottom 25% of global

costs and 60% in the bottom two quartiles.

“Everyone knew that the mining sector had

it problems in terms of pricing before I walked

into this job, however, we have got some

strengths here in Queensland, especially with

the coal seam gas industry being so strong,”

new Queensland Labor Minister for State De-

velopment and Natural Resources and Mines,

Hon Anthony Lynham, told Paydirt. The Queensland Labor Government will continue to support explorers in the State

“That gives us a bit of a buffer, but my role

is obviously to try and increase mining in the and dusted,” Lynham said. ern Australia Infrastructure Facility.

State and make the sector attractive because Uranium explorers can be forgiven for turn- The funding will see new roads, water, elec-

mining is a major driver here in Queensland ing their backs on Queensland’s yellow cake tricity, airport and rail infrastructure built in re-

and is worth $36 billion for us. One in five sector, however, there are incentives for ex- gions such as Cape York and the North West

Queenslanders are employed by mining. This plorers to remain engaged with Queensland. minerals province, which hosts an abundance

is the hub of the economic drive for the State.” The Collaborative Drilling Initiative pro- of resource potential in Queensland.

Having just stepped into office, Lynham has gramme, started under the Labor Govern- “We are big [in mining] and people forget

no intention to start making wholesale chang- ment in 2006, and the Geological Survey of that. We are big on petroleum, with 10% of

es, but rather collaborate with industry to im- Queensland (GSQ) will be strongly support- the world’s LNG to come from Queensland

prove the sector and encourage investment. ed, Lynham said. essentially, which is huge. People think it is

Given the Labor Party is a minority govern- “Almost $6 million in government grants significant, but coal seam gas has been the

ment, it is hoped that together with Bob Kat- have been provided to 52 companies for 72 biggest bonus Queensland has had,” Lyhn-

ter’s Australian Party Queensland’s mining completed exploration projects,” he said. ham said.

industry can lift another cog. Lynham knows the impor- Lynham will embrace the opportunity to

“The previous govern- tance of investing in explora- grow the State’s resources sector for the ben-

ment’s track record was tion to unearth the mines of efit of all Queenslanders, however, he is wary

abysmal for the mining indus- tomorrow, and it appears ap- of the social and environmental impacts of the

try,” Lynham said. petite for mining in Queens- industry.

“We are trying to get it back land has not waned. He said the Government will prioritise pro-

to the old Labor days; bring- The State ranks second tection of the Great Barrier Reef and under-

ing it back to pro-minerals, in the world for seaborne standing the conundrums associated with

pro-mining, pro-export and coal exports, second for lead FIFO workforces.

pro-development.” production, third for zinc and “We are also committed to working in part-

While it appears miners sixth for both silver and baux- nership with resource communities, local gov-

and explorers can enjoy the ite production. ernments and industry to ensure Queensland

support of the Labor Govern- According to the Australian continues to have strong, sustainable regional

ment under the leadership of Bureau of Statistics, Queens- mining communities and choice for resource

Premier Annastacia Palaszc- land accounted for 80% of sector workers who want to live in the regional

zuk, uranium mining is defi- coal exploration, more than communities near to where they work,” Lyn-

nitely off the cards. half of all onshore petroleum ham said.

It is long standing ALP Queensland Minister for State De- exploration and a third of all “FIFO is an important issue for regional
policy in Queensland not to velopment and Natural Resources onshore exploration in Aus- communities and industry. That is why the
support uranium mining, and tralia. Queensland Government is currently con-
while permits can be granted and Mines Hon Anthony Lynham ducting an independent review of existing
By the end of this decade it

for exploration, the Govern- is predicted that Queensland FIFO arrangements near regional communi-

ment is not willing to budge on its mining will be the world’s leading LNG gas exporter. ties as well as a parliamentary inquiry into the

stance. A boost for Queensland’s burgeoning min- broader aspects of FIFO.”

“Unless really strict Labor Party policy ing and oil and gas sectors was delivered via – Mark Andrews
changes at the moment there will be no ura- the Federal Budget in May, with the Abbott

nium mining in Queensland. That’s it, done Government pledging $5 billion to the North-



Juniors living (or dying) by
the explorer’s drill bit

It goes without saying that the current whereas mid-tiers have been very ac-
environment for junior miners is tough, tive in acquisitions (such as Northern

with many operators pushed into sur- Star Resources Ltd’s acquisition of

vival mode, and those who fail to re- Tanami Gold Ltd’s Central Tanami pro-

spond staring failure in the face. ject and, more recently, Evolution Min-

With a focus on managing cash at ing Ltd’s acquisition of La Mancha’s as-

the expense of growth now common- sets). This highlights that most boards

place, one of the first places manage- appear to believe that it’s more eco-

ment tends to look to cut costs is ex- nomical to generate shareholder value

ploration. via acquisitions as opposed to investing

After peaking at $840 million in in exploration.

2012, Australia’s non-ferrous metal So, with the number of development-

(which excludes iron ore, aluminium, ready assets or recycled assets rapidly

coal, and oil and gas) greenfields ex- dwindling, where should companies

ploration declined by 46% to $453.2 look next for growth?

million in 2014, according to SNL Met- As the industry struggles to com-

als & Mining. pete for funding from both traditional

And with indications that exploration and non-traditional sources, the role of

budgets are continuing to fall in 2015, Australia’s mid-tier miners looks likely

the outlook is far from rosy. to become increasingly important when

As appetite for exploration continues it comes to securing future exploration

to decline, juniors are finding access prospects.

to funding increasingly difficult, result- Success stories such as Doray Min-

ing in a marked reduction in the num- erals Ltd, Sirius Resources NL and

ber of mineral exploration companies Strategic partnerships could help companies return to meaningful Sandfire Resources NL are great exam-
now listed on the ASX. Our research exploration while capital markets remain constrained ples of where miners have generated
finds that in June 2014, the ASX-list- meaningful value through greenfields

ed metals and mining sector comprised 595 new and repeat work. Contracts and relation- exploration, although their experiences also

participants engaged in mining activities up ships once taken as a given are now in the highlight the rarity of their achievements and,

from 564 in FY2012. Yet by April this year, firing line as company cost-out programmes thus, the trade-off between drilling holes and

that number had declined by 11% to 530 (S&P are launched to ensure survival. buying ounces.

Capital IQ), with 80% classified as either an This cost-out focus has had a dramatic im- What’s certain, however, is that without a

explorer or developer (with no producing as- pact on utilisation rates across the industry, junior mining industry the likelihood of finding

sets), according to SNL Metals & Mining. with utilisation for ‘yellow’ gear at, or near, new assets decreases even further.

Some would argue that this trend might historical lows. For miners and explorers this One option we see as having real merit –

help to rationalise the market, but this doesn’t means increased bargaining power when ne- for majors and mid-tiers alike – is the pursuit

take into account the critical link juniors play gotiating rates for services as providers look of strategic partnerships where risk and capi-

in the larger mining ecosystem chain, where to replenish dwindling order books. This is in tal are shared and each party leverages the

the loss of explorers, in particular, could vastly stark contrast to what was occurring just a other’s skills and infrastructure. This type of

alter industry dynamics and production fore- few years ago, with indications that the cost of farm-in arrangement is very common place

casts, especially as most major miners no drilling a diamond hole could now be 20-40% in the oil and gas industry. Such arrangement

longer engage in their own greenfields explo- lower than it was in 2012. will make sense at regional levels, but stop

ration. Further, the dramatic decrease in the price short of actual mergers, and result in firms

Interestingly, this is taking place at the of fuel, one of the largest costs associated managing a portfolio of JVs to ensure a future

same time as world-class greenfield project with a drilling campaign, has provided addi- pipeline of development projects.

options are in short supply. So, given the time tional relief – for those with substantial cash Certainly, exploration companies, with their

it takes to move from exploration and develop- balances, this has resulted in a drilling cost low cost structures, process flexibilities and

ment to production, this exploration slowdown per ounce/lb discovered entrepreneurial approach-

could create a supply imbalance in the next proposition greater than it es to generating growth,

decade or two. has been for some time. should be considered in

However, where there’s a cloud, there can While the value proposi- the context of potential al-

also be a silver lining – or at the very least tion on a drilling cost per liances.

potential opportunity. ounce discovered continues Ultimately, in a challeng-

The same forces that have driven invest- to improve, it seems that ing environment where pro-

ment away from mining have also had a sig- major and mid-tier mining ductivity is everything, the

nificant impact on operators that service the companies are still focussed industry needs to carefully

mining industry. With the majors drastically on asset rationalisation and consider how it develops

reducing their brownfields exploration pro- asset acquisitions. future project pipelines in a

grammes from an industry total of $1.7 billion Asset rationalisations cost effective way. Working

in 2012 to $862.6 million in 2014 (SNL Metals have been predominantly Nicki Ivory is a Deloitte Corpo- together, at least in terms

& Mining), there has been a surge in compe- limited to the majors (such rate Finance partner and the firm’s of exploration, could reap

tition between services companies to secure as Barrick Gold Corp), National Mining Leader - West significant benefits.



Falling Chinese nickel stocks
but investors still not biting

An acid spill in December saw output from First Quantum’s Ravensthorpe nickel mine dip sharply to 4,200t from over 7,500t in the previous three quarters

For the nickel market, it’s a case of once bit- of the last couple of weeks but it is still the so badly last year, when nickel rocketed up
ten, twice shy. second-worst performer so far this year next to above $US21,600/t only to collapse again,

Analysts are finding more evidence that to tin. few are prepared yet to recommit to the bull

the Indonesian ban on nickel ore exports in- Trading around $US14,000/t (at time of story.

“troduced at the start of 2014 is finally start- print), three-month metal is pretty much where And they are unlikely to do so until they see

ing to impact China’s massive tangible evidence of short-

nickel pig iron (NPI) sector. The problem is that having been fall in the form of falling LME
burned so badly last year, when
Chinese stocks of nickel stocks.
ore are falling. So too, eve- It was the inexorable rise
ryone agrees, is actual NPI
in LME stocks last year that

production, although the nickel rocketed up to above $US21,600/t dashed bullish exuberance in
scale and pace of decline is only to collapse again, few are prepared this market.
difficult to pinpoint in what is
And, it seems, it will take a

a notoriously opaque part of yet to recommit to the bull story. major trend reversal in LME
the nickel supply chain. stocks to reignite nickel’s

China’s imports of nickel fires.

are trending higher, particu- But LME stocks are a prob-

larly those of ferronickel, the most obvious it was when the ban was first introduced. lematic pricing signal for any base metal and

substitute for NPI. LME positioning data shows money man- nickel is no exception.

Yet the market remains decidedly unen- agers holding a marginal net long. The alter- Right now, LME stocks are still rising, al-

thused by these developments. native data series compiled by Marex Spec- though there are tentative signs the uptrend

On the London Metal Exchange (LME), tron shows investors positioned net short. is losing momentum.

nickel has joined in the cross-metals rally The problem is that having been burned And that seems to be about right in terms


It is believed Indonesia’s ban on nickel ore exports is starting to impact China’s nickel pig iron sector

of this market’s underlying supply-demand nominal capacity of 58,000 tpa. the “Johor shuffle”, the rapid movement of
dynamics. It and most of the other new mega projects metal off and back onto warrant at this Malay-
sian location.
The International Nickel Study Group’s are still ramping up, albeit in a two-steps-for-
latest monthly bulletin showed the global re- ward-one-step-back sort of way. As they do The “Johor shuffle” has been around for a
fined market in 25,000t surplus in the first two so, they are driving non-Chinese production long time and seems to result from a super-
months of this year. ever upwards, which is one of the reasons for accelerated form of collateral financing.
continued supply surplus.
That may seem surprising if the consensus But it distorts any signal from the level of
about falling Chinese NPI is right. The other is the poor health of the stainless cancelled tonnage in the system, particularly
steel sector, which is the largest single end- since Johor holds more cancelled tonnage
But it’s worth remembering that production user of nickel in all its forms. than any other location.
outside of China is still growing thanks to a
handful of mega projects that were initiated The International Stainless Steel Forum And the noise is only likely to get worse in
when the commodity super-cycle was still in has just released its 2014 global production the wake of the Shanghai Future Exchange’s
full swing but are only now ramping up. estimate, showing growth of 8.3% to yet an- (SHFE) launch of its own nickel contract.
other new record of 41.7mt.
True, several have experienced delays and With only six registered Chinese brands
technical problems, particularly those using But the headline annual figures mask a constituting good delivery, there are already
the relatively new high-pressure-acid-leach marked slowdown in the fourth quarter of last concerns about a short squeeze on the SHFE
(HPAL) technology. year. July contract.

First Quantum Minerals Ltd, which ap- The normal seasonal rebound from the And traders are now scouring the LME sys-
peared to have mastered HPAL at its Raven- summer doldrums of the third quarter was tem for Chinese brands that can be delivered
sthorpe plant in Western Australia, experi- highly anaemic at just 0.8%. With the twin ex- to the SHFE. If material is shipped from the
enced an acid spill last December and saw ceptions of China and to a much lesser extent LME to China, it will of course be interpreted
first quarter output dip sharply to 4,200t from the Americas, global fourth quarter produc- bullishly.
more than over 7,500t in the previous three tion actually fell quarter-on-quarter.
quarters. But like the level of cancelled tonnage at
And anecdotal evidence suggests there Johor, there is the risk of a false signal, if what
Glencore’s Koniambo ferronickel plant in was little pick-up in the first quarter of this leaves LME sheds simply reappears in SHFE
New Caledonia also suffered a leak in De- year either. sheds.
cember with output sliding to just 2,200t in the
first three months of this year from 4,000t in Indeed, China’s stainless mills, account- Then there is the structural problem that
the prior quarter. ing for more than 50% of global production, the type of nickel deliverable to the LME rep-
are facing the same problems as the rest of resents the top end of the purity spectrum.
Sherritt International Corp’s Ambatovy op- the country’s steel sector, namely slowing do-
erations in Madagascar, another HPAL user, mestic demand and increase trade sanctions Ferronickel, for example, is not deliverable.
were hit by a two-week technical outage and against exports. Yet it is ferronickel that China is importing in
strike action in the first quarter. ever greater quantities.
All of which helps explain why LME stocks
But Ambatovy still managed to lift output to have been grinding steadily higher, keeping As such, a sustained trend change in LME
11,640t, the highest level since production be- would-be nickel bulls at bay and the price lan- stocks is likely to be a lagging indicator of ac-
gan at the end of 2012. guishing at the current distressed levels. tual market dynamics, which will have been
playing out in less visible parts of the supply
And that’s as good an example as any of Yet the six-month destocking cycle in the chain.
the bigger picture with these projects, one of global stainless sector must at some stage
slow and often problem-plagued commission- come to an end. And all the time the signs of Timing is everything in trading, as the nickel
ing but with output gradually increasing. stress in China’s NPI sector are accumulating. market learnt to its painful cost last year.

Take Goro, for example. Now renamed Vale Those waiting for these trends to converge Focusing on LME stocks is understand-
New Caledonia (VNC), Goro was the problem bullishly in the form of LME stocks trends, able, given they turned out to be a good con-
poster-child for HPAL’s many technical chal- however, run the risk of getting in on the wide- trarian signal during last year’s rally.
lenges. ly-expected rally too early or too late, or quite
possibly both. But LME stocks may turn out to be a very
But Vale has just reported record quarterly problematic indicator for nickel’s next big
production at VNC, although at 6,500t of fin- That’s partly because there’s a lot of ran- move.
ished product, the plant is still a long way from dom noise in LME nickel stocks, particularly
– Andy Home, Reuters



The Tinkler in Rumble’s eyes

A five-hole 1,200m RC programme kicked off in May at Rumble’s Zanthus project

The Fraser Range has attracted the partici- the addition of New Yorkers EAS Advisors fied, Rumble was hoping for big things from its
pation of another big hitter – Nathan Tin- LLC (founded by Eddie Sugar) as the North maiden drilling programme at Zanthus.

kler. American corporate advisor, Rumble now has A five-hole RC programme for 1,200m was

While Mark Creasy has made the region fa- the boardroom clout to drive its Fraser Range planned targeting five bedrock conductors

mous, Tinkler’s role with Rumble Resources ambitions. potentially hosting magmatic massive nickel

Ltd could well take company and region to And, importantly, the company is positioned sulphides.

another level. to start drilling its Zanthus play, 20km east of Upon success in these initial holes, further

“There’s a fair bit of excitement in the com- Sirius’ Nova-Bollinger nickel-copper project. drilling would be carried out, Sikora said.

pany now with key people on board and the A recently completed ground EM survey on “While some people might only have one

targets we have. We hope this will give us a the ZC5 bedrock conductor revealed the con- target to drill, which is good, we have five

“bit of an edge in the market against our com- ductor extends into the Zanthus eye feature, chances at this thing which is exciting,” Sikorapetitors. It also givessaid.

us some credibility and There’s a fair bit of excitement in the “It can be quite hard
will help us get things conducting exploration out

done, like raising mon- company now with key people on there with the amount of
ey when we need to,” board and the targets we have. We hope this scrub but we’re ready to
Rumble chief executive go.”
Shane Sikora said of will give us a bit of an edge in the market
Tinkler’s appointment Rumble is earning up
to 75% interest in Zanthus

as corporate advisor to against our competitors. It also gives us from Blackham Resources
the company. some credibility and will help us get things Ltd, while it holds 100% of
the Big Red project.
“With Mark Creasy’s

involvement with Wind- done, like raising money when we need to. A maiden diamond drill-
ward [Resources Ltd] ing programme at Big Red

and Sirius [Resources confirmed nickel and cop-

NL], it also highlights per sulphides in the Fraser

how popular the Fraser Range is and having with the company’s share price rocketing 30% Range Gabbro, with the company undergoing

Nathan with us is beneficial for us and the upon the announcement in April. technical preparation ahead of the next phase

region. We want everyone to do well in the Nova-Bollinger was discovered when drill- of drilling this year.

Fraser Range, we want to be a real big base ing a bed rock conductor within an eye fea- In total, the company has about 3,200sq

metals explorer focused in the Fraser Range ture, which had Sikora excited to start drilling km of ground in the Fraser Range and is look-

and we hope Eddie [Sugar] and Nathan can Zanthus last month. ing to fast track exploration to generate more

give us an insight into taking the company to Rain in the Fraser Range has slowed ac- bedrock conductors to drill which may land

the next level.” tivity in the region somewhat, however, with it the next big nickel discovery in the Fraser

With Tinkler’s background in developing native title clearance, cash in the bank ($1.68 Range.

resources projects, particularly coal assets million raised in April and government fund- – Mark Andrews
in New South Wales and Queensland, plus ing for drilling) and prospective targets identi-


Rox to seize Fisher East

As the prospectivity and cred- further to the south.”
ibility of Rox Resources
Ltd’s Fisher East nickel project Although Sabre might have
appears to grow stronger by
the day, managing director Ian stolen Fisher East’s spotlight
Mulholland says it’s time for the
company to take ownership of it; temporarily, Rox also had
some notable results from a
Rox recently launched a fully
underwritten share purchase downhole EM survey at its
plan to raise $3 million; $2.5
million of which will be used to Musket and Cannonball de-
secure 100% of the West Aus-
tralian project. posits last month.

Mullholland told Paydirt The surveys were con-
Rox had an option over Fisher
East’s tenements for the pre- ducted at Musket North’s
vious four years – an original
three-year agreement which it MFED064 and Cannonball’s
extended this year. MFED067 holes and both in-
dicated significant off-hole EM
But he said the time had
come to pay for the tenements conductors, which Mulholland
to prove to the market the pro-
ject, and Rox, was the real deal. said warranted follow up drill-

“That’s always been a bit of ing.
a cloud hanging over us, with
people saying you don’t actu- Rox also drilled a single dia-
ally own the tenements yet,”
Mulholland said. mond hole into Musket North,

“But we will own it once we’ve which extended mineralisa-
paid that $2.5 million and that
will be a positive step forward tion roughly 80m down plunge
for the project.”
from a previous intercept.
In the meantime, Rox contin-
ued its good work at Fisher East The new hole returned a
and took steps towards increas-
ing the project’s total resource. standout hit of 0.7m @ 3.6m

Rox recently announced the nickel, including 0.14m @
discovery of a new prospect at
Fisher East, Sabre, 6km south 9.1% nickel.
of the project’s Musket target.
“These Kambalda-style
Mulholland said Sabre was
discovered in the same fashion nickel sulphide deposits typi-
as Fisher East’s established
deposits, Camelwood, Musket cally occur as shoots, pools
and Cannonball.
and channels at the base of
“We had looked at some old drilling results
that were done in the 1990s and there was the ultramafic lava as it flows
anomalous nickel through there,” Mulholland
said. over the rock substrate,” the

“We felt that it was worth following up with managing director said.
some VTEM and aircore drilling. We went
and looked at some geochemical anomalies “They can occur at great
that we were willing to follow up with closer
spaced aircore and that’s when we hit Sabre.” depths, certainly greater than

Intersects from the aircore programme in- 1km and over significant strike
cluded 8m @ 0.87% nickel, including 5m @
1.08% nickel, 6m @ 0.45% nickel, 6m @ 0.4% lengths. The drilling at Fisher
nickel and 2m 0.35% nickel and the holes also
featured notable copper, platinum and palla- East is starting to define such
dium credits.
a system which should lead
Rox followed up its preliminary results
at Sabre with a RC programme last month, to many more nickel sulphide
which confirmed the prospect’s sulphide po-
tential. discoveries over time. Kam-

RC drilling produced intersects of 1m @ balda has had around 50
3.2% nickel from 97m, 1m @ 1.1% nickel from
years of exploration, yet we

only discovered Fisher East a

little over two years ago. It is

Rox believes there is sulphide potential at Sabre very early days, but I think it is

evident there is much more to

135m, 3m @ 1.2% nickel from 141m and 2m come.”

@ 1.1% nickel from 147m. Mulholland said foundational work on a

At the time of print Rox was amid a second Fisher East PFS was underway, including

RC drilling campaign. baseline environmental studies, and he ex-

Mulholland said the two phase campaign pected work to accelerate as the project’s re-

would first test targets from 100- source matured.

120m and then prospects from “Once we have finished this

150-170m. drilling we will be able to cycle

Anything deeper would need back and update the resource,

to be tested with a diamond rig, update the mining schedule and

he said. work out PFS metallurgy pro-

“We will see what we get there gramme and move through a PFS

and then we will have to wait fairly quickly,” he said.

until we finalise the share pur- – Rhys Dickinson
chase plan and fundraising that

we have got on the go at the mo-

ment before we can go back with

the diamond drilling,” he said.

“We are also waiting for the

VTEM results to come back and

then we will extend the aircore Ian Mulholland



Strandline mixes with the
heavies in Tanzania

The ducks are in line for Strandline Resourc- The incorporation of Jacana’s Tanzanian assets will give Strandline a
es Ltd to participate in East Africa’s thriving dominant ground position in one of the world’s premier mineral sands belts
mineral sands environment.
or some sort of arrangement can be made to up to 17% and zircon 6%), while ilmenite of
While mineral sands prices have hit the
floor, Strandline is preparing for an anticipat- give them access to the resources that we 38% has been reported.
ed upswing and has moved to acquire Jacana
Minerals Ltd’s Tanzanian mineral sands as- have got in Tanzania.” Strandline managing director Richard Hill
Strandline hopes to spark some early in- said the company believed it was looking at
“By putting together these two companies
it gives us the majority of the tenements that terest in the market from the Tanga project, Kwale-style mineralisation at Tanga.
you would want to have in order to explore
seriously for mineral sands in Tanzania,” for- which is a combination of both companies’ He is confident that the merged assets at
mer Iluka Resources Ltd chief executive, now
Strandline non-executive director, Michael assets. Tanga had the potential to host hundreds of
Folwell said.
The Tanga project, comprised of Tanga millions of tonnes of rutile and zircon-rich min-
For the past three years Strandline has
conscientiously pegged ground along the North and Tanga South, is 30km south of eral sands.
Tanzanian coastline, with the expertise of
ex-Rio Tinto Ltd mineral sands expert Mark Base Resources Ltd’s Kwale project in Kenya. “It is nice to have high-grade ilmenite but it
Alvin helping the company claim prospective
projects close to existing infrastructure, such Tanga stretches along 80km of Tanzania’s is really these two [rutile and zircon] products
as ports.
coast, with Tanga North expressing combined that determine whether a project is economic
By acquiring the assets of Jacana’s Tan-
zanian mineral sands subsidiary, Strandline mineralisation of 23% zircon and rutile (rutile or not and that is the real focus for us,” Hill
will boast 3,500sq km of prospective ground
stretching 345km north to south of the coun- said.
“Our plan in the next 18 months to two
The proposed Jacana transaction has an
implied value of $5 million, however, with years in Tanzania [is] to define one [but]
nine Tanzanian projects due for considera-
tion upon consummation of the binding heads ideally two resources. [Our aim] is to get at
of agreement (expected in June), Strandline
aims to demonstrate the true worth of its as- least one of those into scoping and feasibil-
ity study in the next 18 months with a view
And the company is confident of doing so
in the next 6-12 months by spending $2 mil- to developing that project rapidly.”
lion on drilling in a belt hosting mineral sands
heavyweights – Rio Tinto, Iluka and Ken- While aircore drilling is planned at Tanga
mare Resources plc.
North and South, the company will look to
On good authority, Folwell had it that a
watchful eye will be kept on Strandline’s re- build on the Fungoni project, near Dar es
sults by such players.
Salaam, which currently has a resource of
“At a conference in Shanghai there was
considerable interest from customers for 14mt @ 3% heavy mineral sands (22% zir-
both titanium product and zircon product to
encourage some diversification in the sup- con, 4% rutile and 44% ilmenite).
ply market. The majors – Rio Tinto and Iluka
– have been extremely dominant for quite No drilling has been conducted outside
some time now and we are hearing from
customers who were prepared to sign off- of the resource however Hill is confident
take contracts for the right quality of prod-
uct,” Folwell said. further discoveries can be made.

“Our sense is that as the housing markets Madimba, Strandline’s initial area of fo-
recover around the world and as demand
for pigment and paint increases the world cus, will also receive attention, with high
economy starts to turn around and prices
improve, we are really well placed to cap- impact resource drilling planned after min-
ture some of that opportunity. That is also
further evidenced by the fact that a number eral assemblage results from auger drilling
of the majors have been entering into dis-
cussions with Strandline Resources and returned high-grade zircon and zircon-
Jacana Minerals to see if a deal is possible
plus-rutile grades averaging above 12%.

A priority for auger drilling is the Mafia project, on the “Our focus in Tanzania is very much high

namesake island east of Tanzania. Zircon grades of up unit value projects, so we are not looking

to 18% have been reported to discover moderate grade mineral sands


deposits,” Hill said. quires some attention.
“We are looking to find very high-grade,
With $30 million spent on Coburn, 250km
very high value projects, with high zircon, high
rutile ... and preferably in infrastructure hubs north of Geraldton, the project is construc-
where several other key projects are found to
get them to market quickly, even in a difficult tion-ready, subject to finance.
commodity environment.”
Coburn boasts a current mine life of 19
Despite low mineral sands prices making it
tough to access capital for development and years, with Strandline seeking a strategic
exploration, Hill said the company was tap-
ping the right market – London – where Stran- partner to help it extract value for the project
dline was receiving positive feedback for the
direction it is taking. in the next 6-12 months.

Therefore, should the time come to accel- While the company flies solo at Coburn, the
erate work on its projects, Hill believed fund-
ing would be accessible. Jacana transaction plus Fowlers Bay nickel

Additionally, associating with Jacana – JV with Western Areas NL in South Aus-
the spin out vehicle of Mozambique-focused
graphite juggernaut Syrah Resources Ltd – tralia and the Mt Gunson copper JV also in
Strandline will also inherit the financing exper-
tise of Syrah founding chairman Tom Eadie SA, demonstrate Strandline’s ability to strike
and Mark Hanlon as non-executive directors.
clever deals.
“London really does understand Africa,
probably better than anywhere and is prob- Western Areas is poised to plough several
ably the logical place for this project. We are
getting a very good response here despite millions of dollars into Fowlers Bay, which is
what is a fairly difficult phase in the market, so
believed to host Albany Fraser-style potential,

over the next year, while a BFS at no cost to

Strandline (targeted for mid-2016) at Mt Gun-

In addition to mineral sands in Tanzania, Strandline son is being funded by its JV partner.
has projects prospective for nickel and graphite “They have got 18 months to get to a BFS
on that project – a very advanced project –

we are confident we can raise some funding and it is something that we can sit back and

on this project,” Hill said. watch as they are looking at an eventual 51%

Rattling the tin for Tanzania is not an im- [ownership],” Hill said.

mediate concern, however, the Coburn heavy – Mark Andrews
mineral sands project in Western Australia re-

A change of Image for mineral sands hopeful

Image Resources NL is poised for production we have. That flows through eral separation plant at its Mindarie
from its Boonanarring mineral sands deposit,
80km north of Perth, in 2016. to financing, as you have got project in SA is also due for consid-

The company has entered a MoU with Chi- to have your product sold. The eration in the MoU.
nese-backed Murray Zircon Pty Ltd which is
structured around the provision of a plant, off- MoU also comes with a wet “We get an off-take agreement for
take and financing for the zircon-rich deposit.
plant which was only closed re- zircon which will lead into some fi-
The wet plant and associated equipment
is worth an estimated $20 million, leaving Im- cently and is only about four or nance and we get some finance, with
age with a smaller funding requirement than it
would have originally been chasing. five years old. Very fortuitously, Murray Zircon receiving 42% equity.

“There will be some equity raising but these it is about the right scale for our For them to be successful and get
guys are part-owned by the Chinese Govern-
ment, they are a SOE [state-owned entity], project, it will require a little bit 47% equity they are going to have to
and we believe they will give us a lead into
financing. Hopefully, that will generate a bit of of tweaking but not that much.” follow their rights,” Thorp said.
interest and we will only be looking for $20-25
million, it is not a $1 billion build,” Image chief Murray Zircon’s parent com- Upon reaching a decision to mine
executive Collis Thorp told Paydirt.
pany is $1.6 billion Chinese out- and project finance secured within
The plant plus finance up to $12 million,
makes a start-up at Boonanarring much more fit Guangdong Orient Zirconic Collis Thorp two years of completion, Murray Zir-
plausible in the current environment. Ind Sci & Tech Co. (Orient Zir- con will take its stake to 47%, which

Thorp said rather than Image flying solo conic). will see the Image board comprised
and looking to raise $60 million itself, the MoU
had provided brokers with an incentive to help Orient Zirconic develops, produces and op- of two nominees of each company plus an in-
with equity and possible debt equations.
erates zirconic products, with a large part of dependent chairman.
Financing discussions will remain ongoing
with Image’s immediate concerns also includ- its market being China’s nuclear sector. While acquiring the expertise at board level
ing finalising agreements and conducting due
diligence on the plant, while continuing with a With zircon being resistant to heat and ra- is a critical component of the deal, having
small amount of exploration work.
diation, it can be used a liner in nuclear power Murray Zircon’s operational and managerial
It took six months to construct the MoU and
the company anticipates cementing of the plants. experience will help fast-track Image’s North
agreement could be done by the time of Dig-
gers & Dealers, at the earliest. The World Nuclear Association reports that Perth Basin mineral sands projects, starting

“It was purposely part of our strategy to look there are currently 26 nuclear power reactors with Boonanarring and followed by the Atlas
for people that had synergies with us. The first
synergy was that they needed zircon, which operating, 23 in construction and a number deposit.

planned to be built, which bodes well for zir- “They are well experienced in managing

con suppliers to the industry. slime and that in itself is a potential hurdle to

Orient Zircon has subscribed to take 90% non-operational people. But these guys have

of all zircon products from Boonanarring at managed to develop a lot of technology and

market prices and will provide an $US8 million science management behind that. That slime

downstream working facility upon completion and management system will actually reduce

of the MoU. our footprint from an environmental point of

Additionally, Murray Zircon, the heavy min- view and also reduce our capital spend. That

erals concentrate producer in South Australia, is a big advantage when you get down to the

will provide a short-term loan of $4 million nitty gritty, they will bring a few of their people

which is not repayable (subject to certain ex- over that run this plant which always helps ini-

ceptions) if Image does not reach production tially,” Thorp said.

within three years. – Mark Andrews
An option to purchase Murray Zircon’s min-



A clap for Sheffield
at Thunderbird

Activity in the mineral sands market An update on the Thunderbird PFS is expected in the second half of 2015
is picking up and Sheffield Re-
sources Ltd is in the thick of the action. framework process to help us through any Infill aircore drilling completed in February
potential roadblocks in the approvals and per- was not included in the resource for the PFS,
The company’s PFS at its flagship mitting process,” McQuitty said. however, Sheffield is excited to conduct more
18 mtpa Thunderbird project in West- infill drilling after receiving results such as
ern Australia’s North West confirmed A mining lease was lodged last year, with 18m @ 21.3% HMS and 15m @ 19.5% HMS
the viability of a long-life, zircon-rich native title negotiations under way. earlier this year.
mine destined for commissioning in
2018. Meanwhile, the company will conduct more Whether or not the market shares the same
field work and drilling this year, which is ex- enthusiasm remains to be seen, however, ac-
It is estimated that Thunderbird pected to add high grade tonnes in the up-dip tivity in the sector can’t be ignored.
will be a 32-year project producing region of the deposit.
114,000 tpa zircon, 439,000 tpa ilmen- Iluka Resources Ltd’s pursuit of Irish miner
ite and 30,000 tpa HiTi84 leucoxene Kenmare Resources plc, plus the merger of
generating life-of-mine revenues of Chinese titanium producers Henan Billions
$9.5 billion, with operating cash flow Chemicals Co. and Sichuan Lomon Titani-
of $163 million per annum expected in um, has sparked some interest in the sector,
the first 10 years. which is currently at a low ebb.

Price assumptions used by Sheffield “There is quite a lot of corporate activity,
include $US1,375/t zircon, $US155/t which is again a barometer of being at the bot-
ilmneite and $US580/t HiTi84 leucox- tom of the cycle and the upswing not too far
ene. [away] into the future,” McQuitty said.

Pre-production capital costs are “It is a good time to be bringing a project
$394 million, including $26 million of into the development pipeline because we
contingency, with capital payback es- anticipate an upswing in demand at the same
timated to take three-and-a-half years. time as we bring the project on line.”

Sheffield managing director Bruce By the time production starts, Sheffield
McQuitty said the company was en- hopes to improve the economics of the Thun-
couraged by the PFS, particularly as derbird project, 25km north of the Great
the mineral sands and mining industry in gen- Northern Highway, Derby, which currently
eral were in cyclical lows. boasts a resource of 3.2bt @ 6.8% HMS com-
prised of 19.3mt zircon, 61.1mt ilmenite, 8mt
“We have put out a PFS that has very strong of leucoxene and 6.3mt of HiTi leucoxene.
financial parameters and we have demon-
strated strong cash margins over a very long – Mark Andrews
32-year mine life,” McQuitty told Paydirt.
Bruce McQuitty
“Despite lower forecast pricing we have
used in the past it still stands up as a very ro-
bust project. The PFS has given us a level of
confidence in the project, as we have dem-
onstrated that we have a robust mine to port
logistics chain and we have got an export so-
lution for our products from Thunderbird.”

The project is near both Broome and Derby
and Sheffield has already been granted a pre-
ferred proponent status for a bulk handling fa-
cility and product storage area at Derby port.

While a gateway to Asia for Sheffield’s min-
eral sands products is in place, the company
is yet to nail down off-take agreements.

“I think the main challenges are to com-
plete the DFS and lock in offtake agreements
for our products. It is likely the DFS will take
about 10-12 months and cost about $10 mil-
lion,” McQuitty said.

McQuitty said a PFS update would be pro-
vided to market in the second half of the year,
with some aspects of the DFS progressing at
the same time.

“The commissioning target of 2018 takes
into account the completion of a full DFS,
including permitting timeframes. They are
progressing in parallel and we also have the
assistance of the DMP, with their lead agency


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Bouncing back
from the brink

Mirabela is looking for sustained operational success to capitalise on new beginnings at Santa Rita

Faced with administration, Mirabela Nickel others are beginning to experience similar nism to fix the balance sheet.”
Ltd was seemingly at the end of the road problems to Mirabela’s plight. Head of re- Stooping to 1c/share – due to operational

not so long ago. structuring and insolvency at Gilbert+Tobin, issues at Santa Rita, poor nickel prices and

However, a groundbreaking balance sheet Dominic Emmett, says the route taken by the loss of a major customer – forced Mirab-

restructure in 2014 saw the Brazilian nickel Mirabela should be one considered by other ela into voluntary administration.

miner remedy its debt burdens through the distressed resources companies. The company returned to trading on the

Supreme Court of New South Wales. “I think one thing that it has shown is that ASX in June 2014 and closed Q1 2015 with

The Court granted leave for a deed ad- while people traditionally have been wary of a cash balance of $US25.3 million, which is

ministrator to transfer 98.2% of each share- the perception around it, one of the things Mi- set to improve this year upon greater nickel
holder’s interest in Mirabela to unsecured
creditors without shareholder production and increased sales.
approval. “Mirabela has probably been

I think one thing that it hasIn return, US holders of the biggest development in the
restructuring market in the last
the unsecured notes totalling 5-10 years, so that [restructur-
ing] market does understand
shown is that while people$US395 million (plus interest) it but whether or not mining
company directors do I’m not
waived the debt for control of sure. Perhaps they probably

traditionally have been wary of theMirabela, while the remaining

“perception around it, one of the things1.8% was kept by shareholders.
rabela has demonstrated is that people don’t

This particular “loan-to-own” Mirabela has demonstrated is that don’t understand it until they
scenario, pursuant to section people don’t necessarily need to worry meet with their advisors,” Em-
444GA of the Corporations Act mett said.

2011, whereby debt was essen- about the stigma of administration. “At times a restructure
tially purchased for ownership, will allow boards and lender

was a first for an Australian- groups to fix a company’s bal-

listed company. ance sheet in a way that they

In its State of the Nation report in Decem- necessarily need to worry about the stigma of can become comfortable with, without affect-

ber, Gilbert+Tobin, advisors to the US-based administration,” Emmett said. ing any underlying businesses and without

noteholders of Mirabela, said: “The Mirab- “The underlying business was unharmed, putting companies through formal receiver-

ela transaction paves the way for creditors all the vendors and suppliers were kept whole ship-type processes.

of a listed company to pursue debt for equity and the business operated normally. All the “It will be a very handy restructuring and re-

transactions without shareholder approval administration process did was fix the bal- suscitation tool. Most of these businesses are

through entry into a DOCA [Deed of Company ance sheet. The administration itself shouldn’t perfectly viable, they just have too big a debt

Arrangement].” been seen as a death knell or the end of the load and it is a very efficient way to try and

As the commodities downturn drags on, road. It was used by Mirabela as a mecha- reduce that debt load,” Emmett said.


“ The recapitalisation of Mirabela was a first for a listed company in Australia
Mirabela has probably been the biggest development in the restructuring
market in the last 5-10 years, so that [restructuring] market does
understand it but whether or not mining company directors do I’m not sure.
Perhaps, they probably don’t understand it until they meet with their advisors.
Having the Mirabela case as an example, not remiss of something going wrong, there’s panies were in suspension – 79 of which be-
Emmett said he expected smoother transac- nothing wrong with admitting to an overlever- longed to the metals and mining sector.
tions for other companies seeking a similar aged balance sheet, it is just something that
business-saving restructure. exists and needs to be fixed. The focus should Of the metals and mining companies cur-
be on saving the business as opposed to nec- rently suspended from trading, many were in
“We need to change the perception of our essarily saving the corporate structure that administration, restructuring or recapitalising
restructuring culture here,” Emmett said. exists around it,” Emmett said. their businesses as dark clouds continued to
linger over the resources sector.
“In the US, the Chapter 11 isn’t seen as a Saving the business is at the forefront of
bad thing, it is a way, and part, of doing busi- many Australian executives at the moment. The most high profile of the companies fac-
ness. Here if you mention the word restruc- In early May, a total of 197 ASX-listed com- ing uncertain futures is West Australian iron
ture or administration people run a mile. It is ore miner, Atlas Iron Ltd.

A recapitalisation restructure has saved Mirabela from extinction Mirabela hit a snag on its road to redemption, with the Santa Rita
operations temporarily shut down by the Brazilian Government in May



Once a shining example of posed to top line revenue main-

the buoyancy in WA’s junior tenance.

resources sector, Atlas has “The best practice is only

endured a horrific 2015. Plum- possible with experienced

meting iron ore prices had a CEOs and CFOs, comple-

dramatic effect on profitability mented with specialised and

and the company’s share price, relevant external expertise.

leading the company to the Businesses that have excellent

brink of default on its debt re- roads and rail are the business-

payments. es surviving and thriving in the

Atlas’ response to iron ore market,” he said.

crash ($US105/t May 1 2014 Inevitably, a strong board

to below $US50/t at times this presence and focused senior

year) was to flag intentions to management will ensure con-

cut back operations at its Pil- sidered contingency plans are

bara mines – Abydos, Wodgina in place to ride the mining cy-

and Mt Webber. With the business restructured, Mirabela has shaken off volatile nickel prices to cles.
While Atlas has culled staff in restart operations at Santa Rita At board level, Atlas has ap-
pointed former West Austral-
its Perth office already, scaling

down mining operations will obviously impact delivered a breakeven price of about $US50/ ian Attorney General Cheryl Edwardes as a

people on site, and also the contractors it em- dmt compared to the benchmark at the time of non-executive director. It is hoped Edwardes’

ploys. print of $US60/dmt. expertise will help Atlas create and implement

McAleese Group Ltd’s resource division is KordaMentha restructuring partner Scott strategies to ensure it remains a viable iron

highly leveraged to Atlas contracts and Atlas’s Langdon said services companies had en- ore entity in the long term.

decision to suspend operations prompted joyed the fruits of the mining boom and now Mirabela’s rebuild started in 2014 while

McAleese to pursue a path similar to Mirabela also needed to adapt to a different environ- nickel was trading at near five-year lows,

and engage corporate advisory experts 333 ment. however, this failed to deter Maryse Belanger

Capital. “Mining services companies have had the from pursuing the chief executive position at

With 333 Capital on board, McAleese de- wind at their back for a long time, with increas- Mirabela.

vised a strategy to help Atlas avoid adminis- ing commodity prices and favourable market In her first media interview as Mirabela

tration, while providing the iron ore miner’s conditions. With the recent challenging condi- chief executive, Belanger told Paydirt that

other major service providers with a lifeline tions, successful senior management need to having the right systems, people and direction

amid poor commodity prices. get dirt under their nails and put wind into their in place were ingredients needed for success,

Led by McAleese, Atlas and its other con- own sails. They are strongly focused on inter- particularly in lean times.

tractors have banded together and struck an nal cost management and micro-controlling “In March this year nickel had gone down

innovative solution which will see Abydos, all elements of their operation,” Langdon said. to $US5.60/lb and what made it even more

Wodgina and Mt Webber remain in produc- Langdon said it was best practice to quickly challenging is the fact that most people in the

tion. and proactively react to external forces and industry have had the benefit of lower fuel

The collaboration agreement will see Atlas internally focus on cost management as op- prices; we don’t in Brazil,” Belanger said.

“Administration” may be considered a dirty word by some resources companies but if it means saving the business it should be embraced

Retaining good staff is still core to running a successful business

KordaMentha partner Scott Langdon [on equipment for example]. I believe the second quartile of nickel producers with

in going to the root of the problem and $US4.50-5/lb C1 cash costs at Santa Rita.

“In fact, fuel prices, which are controlled fixing it. It is a back-to-basics philosophy. I “Effectively we have redefined the future for

by Petrobas, have been going up. Our prices believe in the laws of chemistry and physics. Mirabela,” Belanger said.

here in Brazil are going up while they are go- I believe in engineering. Companies have to Mirabela’s Q1 2015 performance at Santa

“ing down everywhere else. We had a combi- work their assets harder.” Rita, in Brazil’s Bahia State, suggests Bel-

nation of low nickel prices and anger has the company on the

high fuel costs and we still man- I believe in fixing things, I don’t right path.
aged, so absolutely it [company The company produced

turnarounds] can be done in manage around issues. I focus 3,855t @ 0.44% nickel pro-
challenging times.” on fixing what is not working properly. cessed grade at $US4.88/lb,
Mirabela has had an interesting
Prior to taking the helm at with $US25 million cash on
Mirabela, Belanger was senior hand at the end of the quarter.
vice president, technical ser-
Comparatively, the compa-

vices, at Canadian major Gold- journey and after going through ny’s 2014 financial year figures
Corp Inc. administration there was absolutely included 12,047t @ 0.42% at C1
cash costs of $US7.16/lb.
Belanger said the challenge

of moving from a multibillion no money to be spent on anything. While the company has sub-
dollar company to one that was stantially improved its position

in administration was an attrac- at Santa Rita, sustained opera-

tion rather than concern. In her tional improvements and finan-

opinion Mirabela had a lot going for it, specifi- With Belanger at the helm, Mirabela ap- cial discipline will be behind better days for

cally a mine supported by infrastructure. pears to be making the most of its second life. Mirabela in 2015, Belanger said.

Despite impressive new beginnings in Bra- The company has reinvented itself; it was “I think nominally we are showing that

zil, it has not been all smooth sailing for Mirab- once a high cost producer but now sits in we can get back to the days of being a very

ela, with the Brazilian Government issuing a solid producer and our guidance for this year

stop work order at Santa Rita and associated is 16,500t-18,000t nickel at cash costs of

port operations at Ilheus in May. $US4.50-5/lb. I think in everybody’s mind the

Santa Rita plant and crusher operations question is: are the changes we made sus-

were not shut for long – one day in fact – how- tainable? Obviously they are, it is the nature

ever work remained to be done in addressing of this industry, at the end of the day it is just

operational issues at the port at the time of science,” Belanger said.

print. The last few months have seen record

Belanger, though, appears to thrive on such amounts of material moved and concentrate

challenges. shipments have left Santa Rita, which Bel-

“I believe in fixing things, I don’t manage anger credits to good liaisons with its logistics

around issues. I focus on fixing what is not partners and improved leadership within its

working properly. Mirabela has had an inter- Brazilian team.

esting journey and after going through admin- With the innovative solutions to the corpo-

istration there was absolutely no money to be rate question completed and a back-to-basics

spent on anything. It is about doing the right mentality beginning to bear fruit on the opera-

work, rebuilding the team and getting employ- tional front, Mirabela’s immediate future looks

ees engaged again. I really believe in going brighter than 12 months ago.

back to the basics in this industry,” she said. The same could be said for another miner

“There is a concept that many operators that has experienced a torrid three years;

tend to manage around the problems instead Australian and Papua New Guinean gold pro-

of fixing them. There was so much money in ducer St Barbara Ltd.

the past flowing into the industry that people Led by chief executive Bob Vassie, who

became accustomed to just spending more St Barbara chief executive Bob Vassie was appointed in July 2014, St Barbara has



St Barbara has one of the largest gold resources and reserves of any company listed on the ASX Mining executive Mark Connelly

gone from the brink of collapse to flourishing “You could see that you could reduce costs in which only the fittest will survive.
gold miner. quickly and that Leonora was producing good “Some companies are taking too long to re-
cash and could continue to produce a lot
St Barbara has shed the troublesome Gold more, so that gave you a stepping stone. I am act [to seek corporate advice]. They are prob-
Ridge project in the Solomon Islands and well versed in cutting costs and could handle ably hedging their thinking that the commodity
taken to its Leonora operations in WA and that. I guess I knew the Solomons would be price will improve. However, the fundamentals
Simberi project in PNG with renewed vigour. a challenge. It took a year to resolve that and suggest we are in a tough period for commod-
it was perhaps more challenging than I had ity prices and coming off a high, we are in for
In December 2014, St Barbara shares were thought, but I am pleased with the outcome. a big change. The reaction to that change has
7c/apiece, at the time of print the stock was I think Simberi was make-or-break. We were been not as fast as some companies should
worth 56c. really facing having to close it because we have reacted. An old saying is that good times
couldn’t survive the cash drain and being able make bad managers and bad times make
“I think the market factored that we were to turn it around in the nick of time with a new good managers. If you can survive through
just going to run out of money, the cash drain team there was very rewarding.” this then I think looking forward the basis is
was too much,” Vassie told Paydirt. going to be very different,” Connelly said.
St Barbara and Mirabela have turned their
“We were able to pull back on spending fortunes around despite continued tough Shareholders across the resources sector
and we built cash for the first quarter since market conditions but will other distressed will be looking to their management teams
the Allied [Gold Inc] acquisition a couple of companies be able to follow suit in some way, and asking whether they have what it takes
years previous. The market rewarded that shape or form? Or have some missed the to be a good manager in these undoubtedly
with a significant re-rating and not only was chance for resurrection? bad times.
that December quarter cash building, the first
quarter of this year was and was also a record Popular mining executive, Mark Connel- – Mark Andrews
production quarter. The following quarter in ly, who sits on the boards of B2 Gold Corp,
March was a record and we finally find our- Saracen Minerals Holdings Ltd and Ausdrill
selves having $10 million in the bank.” Ltd, believes some companies have been too
slow to respond to a challenging environment
St Barbara has made significant savings
by chopping its corporate head count by St Barbara has streamlined its portfolio and is focused on greater returns from its Leonora operations
half, placing greater emphasis on production
from Leonora and Simberi
(111,288oz @ $798/oz
AISC) and cutting down ex-
ploration solely to resource

Vassie said his 30-year
career in international
mining steeled him for the
challenge of turning St
Barbara around and with
Tim Netscher as chairman,
continued improvements
can be expected from the

“I knew it would be chal-
lenging because coming
in you could see the com-
pany was in trouble, that
the Pacific [operations]
were draining cash – it was
a horrible situation in the
Solomons,” he said.


8 October 2015
Pan Pacific Perth

Register now for Australia’s
only nickel event

To present, exhibit or attend as a delegate please contact Melita Fogarty
on (+61) 8 9321 0355 or email [email protected]


Scandinavia thaws in
Australian eyes

With profitable production achieved despite a 0.2% copper head grade, the Aitik copper mine in Sweden highlights the benefits
productivity, infrastructure and stable tax regimes bring to Scandinavia’s mining industry

More than a century of modern mining, boast of Atlas Copco, Sandvik and Scania as “Boliden and LKAB [Europe’s largest iron
home to the world’s leading mining tech- its leading METS companies. ore miner] have low-grade, remote operations

nology companies and among the highest lev- The technology advantage has translated and it is a given for both companies to strive

els of productivity in the world; there is plenty into the highest levels of productivity in the for productivity gains.”

to like about Scandinavia’s mining sector. global mining industry. It is the technology and productivity gains

This makes it more surprising that Aus- Among its three operations in Sweden, Bo- which have driven the mining relationship be-

tralia’s intrepid exploration sector traditionally liden Group produces more than 70,000 tpa tween Australia and Sweden as the likes of

turns toward the higher risk, less developed copper, 1.9 mozpa silver and 70,000 ozpa Atlas Copco and Sandvik increase their pres-

regions of Latin America, West Africa or the gold from its Aitik mine, despite operating on ence in the world’s largest mining economy.

Pacific Islands as investment destinations. a head grade of 0.2% copper. However, the Swedish Government through

However, interest is growing, led by a band According to Swedish Trade Commissioner Trade Commission Business Sweden, is keen

of successful juniors who are highlighting the to Australia, Jonas Lindholm, the low grades to see the relationship develop further and

opportunities on offer in the Northern Euro- and high cost nature of operating has forced has targeted Australia for inbound resources

pean region. Swedish companies to find productivity gains investment.

in its mining sector. “We look after investors into Sweden and
Scandinavia’s geological prospectivity has attracting Australian com-
never been in doubt. The re- panies to Sweden and the
gion is host to large deposits of Scandinavian Shield is very
nickel, copper, zinc and urani- high on the agenda,” Busi-
ness Sweden’s project man-
We are looking to identifyum – some of them among the ager mining industry, Tommie
Australian juniors who would beworld’s most iconic deposits. Åkesson said. “We are look-

On the regulatory front, Fin- ing to identify Australian jun-

“willing to come to Sweden and and Sweden often appear
in the top 10 of the Fraser In-

stitute’s Investment Attractive- iors who would be willing to

ness Index while Norway and Greenland also “Productivity is a big part of our mining sec- come to Sweden and explore.”

appeared in the top 50 in 2014. tor’s success,” Lindholm told Paydirt. “It is in That process has already begun to take

Regards mining services and technology, the Swedish DNA to run productivity gains. shape.

Finland and particularly Sweden have few We have always experienced high labour From less than half a dozen companies a

competitors. Finland is the birthplace of Outo- costs so we have been very keen to cut man decade ago, the ASX now boasts more than

kumpo and Metso Mining, while Sweden can hours. 20 companies active in Scandinavia.


Among the most successful is Talga Re-

sources Ltd, which has transformed from

Pilbara gold prospecting company to high

profile graphite-graphene developer on the

back of its Vittangi graphite project in north-

ern Sweden. Talga managing director Mark More than 20 ASX-listed companies are active in Scandinavia

Thompson is a strong advocate for Austral-

ians entering the region and believes it has “When you consider 95% of it has covered “That is not always a comfortable game for

more geological potential than many Austral- regolith and foreign explorers have only been Australian explorers; particularly geologically

ian geologists recognise. allowed in since 1992, you could argue that and geochemically. But the geophysics are
“The hypothesis that the Scandinavian
Shield only contains low-grade de- very good.”
posits is entirely wrong,” Thompson The below-ground resources are

If you look at the depositssaid. “If you look at the deposits attractive but challenging, however,
the likes of Thompson, Williams and
and mineral fields that have been FinnAust Mining plc chairman Dan
Lougher are in no doubt about the
and mineral fields thatfound, it is an example of a highly strength of above-ground elements in
have been found, it is anfertile terrain across multiple com- the region.

modities.” “It is a simple equation,” Thompson

“example of a highly fertile terrainBoss Resources Ltd technical di-
given the rate of discovery since then, the ter-

rector Peter Williams agreed. across multiple commodities. told Paydirt. “Productivity, regula-
“It is very interesting geologically tory environment and tax regimes all

and quite underexplored,” Williams make it an attractive region but above

told Paydirt. “In nickel, most of the rain is very fertile and productive.” all else it is the infrastructure environ-
exploration in the region has been focused on ment which makes it so attractive. Not only is

the large, low-grade complexes in the style Williams warned other prospective Scandi- infrastructure available, it is high quality and

of Outokumpo but in the last 5-10 years it navian explorers that the geological challenge low cost.”

has become apparent that a different, higher was different to Australia. – Dominic Piper
grade style of mineralisation is present.” “You have to be careful exploring there be-

For Thompson, Sweden is the most entic- cause it is a very different terrain to Australia;

ing jurisdiction. it is a glacial terrain,” he said.



Happy digger Talga talks tech

There may have been a time in the resourc-
es cycle when Mark Thompson would be
berated by shareholders for framing the Talga

Resources Ltd story as one as much about

technology as it is mining.

But with the ASX resources index floor thick

with the spilt blood of junior miners, it is now

looking like a very smart move.

“There is a philosophical struggle within

the company at the moment as to whether

to become, less ‘resourcey’,” Thompson told

Paydirt. “We have to decide which way to
go, especially as the share price continues to

struggle against the constraints of the ASX.

“Even though we spend so much time at Talga plans to build its first graphene demonstration plant in Germany. The chosen plant site is
battery conferences, speaking to end users within the Rudolstadt-Schwarza chemical processing hub in the state of Thuringia
and the like, our shares are still traded on the

ASX and are still restricted somewhat by the But perhaps even more exciting is the ad- sions with the various European institutions

performance of resources companies on the vances Talga has made towards turning Vit- working at the cutting edge of graphene ap-

ASX.” tangi into the world’s first commercial-size plications.

However, this is far from the familiar story source of graphene. This is in contrast to many of Talga’s graph-

of a resources junior jumping ship and rein- Graphene – the material defined as layers ite peers who have largely been drawn to

venting itself as a tech play. Rather than be- of carbon less than 10 atoms thick – has been China for partnerships and MoUs. Thompson

ing drawn to the tech space because of the widely hailed as a potentially era-defining ma- sees his company’s move toward European

weakness in its resources portfolio, Talga is terial since its identification in the mid-1990s. end-users as more than an accident of geog-

gravitating towards new markets precisely be- “We have got a foot in all camps. At the mo- raphy.

cause of the quality of its mining assets. ment we are a mining development company “It is true that being in Sweden gives us

The company’s flagship asset is the Vittan- because we are growing into mining in the easy access to those markets but our focus

gi graphite project in northern Sweden. Vit- next few months but graphite and graphene on Europe has several other compelling rea-

tangi is considered the highest grade graphite are in the technology/industrial space. That sons. Europe imports 95% of its graphite but

project in the world. Graphite-focused compa- means we engage with customers in a way the infrastructure and logistics available there

nies have enjoyed strong support from inves- that is very different from the traditionally trad- give us an inherent advantage over the Aus-

tors over the last two years as a new genera- ed commodities.” tralia, Africa and Asian graphite projects.

tion of discoveries vie to supply the growing To date, the vast majority of graphene has “Perhaps, most importantly is the issue of

markets created by the development of new been produced in labs in only small quantities, graphene. Europe has a massive concentra-

applications, particularly in the lithium-ion restricting the development of new applica- tion of large companies who are active in the

battery space. tions. Talga’s metallurgical test work has dem- graphene space. By so close, those groups

onstrated it could produce up to 1,000 will be more comfortable dealing with us than

tpa graphene, in the process becoming with companies from other continents.”

the first commercial-scale supplier of To reinforce this association, Talga plans to

graphene in the world. build its first graphene demonstration plant in

Its ability to produce graphene has Germany, which is fast becoming the centre

seen Talga gravitate toward scientific in- of graphene innovation.

stitutions and industrial R&D groups as Talga has chosen a plant site within the

much as to traditional resources inves- Rudolstadt-Schwarza chemical processing

tors. In particular, Thompson has spent hub in the state of Thuringia near the major

most of the last six months in discus- regional town of Jena. The Government-

owned facility built in 2008 includes a 1,248

sqm production area with attached 323 sqm

office space and an adjacent 1,167 sqm ore

dressing/ warehouse.

Thompson said the demonstration plant

would not only allow Talga to refine the

graphite-to-graphene process, it would also

provide customers with usable samples of the

graphene product.

“The plant will allow us to remove the vol-

ume and cost roadblocks which are still the

biggest barriers to accelerated development

of graphene products,” he said.

The site is just 35km from Talga’s Thuring-

ia-based research partner, Friedrich-Schiller

University at Jena, Thompson said its location

would allow research partners – the company

has a second agreement with Dresden Uni-

Vittangi is considered the highest grade versity and the Max Planck Institute, Mainz –

Trial mining at Vittangi is due to start in the next month graphite project in the world easy access to the facility.


“Being at Rudolstadt-Schwarza means our Talga has made solid progress turning Vittangi Mark Thompson
partners can put their head over the fence
regularly,” he said. into the world’s first commercial-size source of of the technology and processing.”
Thompson hopes that process will help
There are also financial benefits to setting graphene
up shop in Germany with grants available for demystify Talga’s claims about graphene,
up to 35% of fixed asset expenditure. million, that would be a failure in my eyes. So however, he is still conscious the company
far, shareholders have been getting a fair ride. is asking investors to consider an unusual
“The Thuringian State Minister for Eco- From late 2013 we have put on 400% and proposition.
nomic Affairs and Science, Wolfgang Tiefen- 100% in the last 12 months. Most of the time
see, has also provided personal and written we have outperformed the market and most “The transition we are making is not one
support to Talga confirming additional gov- of our peers. Even though it is annoying that that usually happens; we are going from ex-
ernment assistance, which includes R&D our value has been restricted by the travails plorer, to developer, miner, producer and
subsidies of up to 80% and access to other of juniors on the ASX, we still see that value high-tech start-up in a short space of time.
schemes.” being recognised in the future.” So, it is taking time for investors to catch up.

Talga’s move into the technology/industrial The job in meantime then is to ensure Talga “That means we need to spread the word
space has also seen it open discussions with shares get closer to that “fair value” and much outside the embattled resources sector as
some of Europe’s large industrial conglom- of the expected news flow over the next six well.”
erates. With the company’s value still con- months is likely to be understood by the tradi-
strained by the vagaries of the ASX resources tional junior mining investor. If Talga can pull off the trick of convincing
index, is there a chance Talga will be snapped traditional resources investors of its project
up by one of these multibillion dollar conglom- The company plans to start trial mining at development capabilities and new sharehold-
erates? Vittangi in the next month and will then test ers of its R&D credentials, it may emerge as
its logistics network by transferring the bulk one of the strongest resources and tech jun-
For Thompson, who remains Talga’s larg- material to the German demonstration plant. iors on the ASX today.
est shareholder, it is not a prospect worthy of
consideration. “Some of the news flow over the next six – Dominic Piper
months will be de-risking events; demonstrat-
“Is selling to a big conglomerate the best ing we can mine, deliver material and produce
thing or just the most comfortable thing to do? graphene. That will see us give confirmation
It is a question of fair value and we have cer-
tainly not recognised that yet.”

If not, could groups which are currently
partners turn into predators?

“I feel confident we could repel any offer.
The shares are tightly held and shareholders
are very happy. The last three capital raisings
have been completed at progressively higher
prices and I don’t see any scenario that would
be better for shareholders than continuing as
we are.

“We are not just looking to double our share
price but to create a tenfold increase or even
100-fold increase. If we are taken over at $100

Sydvaranger under serious threat

Northern Iron Ltd has conceded it may have pany during the June quarter,” Beckmand told change funding losses that may be realised.
to shut down its Sydvaranger operation in shareholders in a market update released to Under the terms of the amended off-take
Norway at the end of this month if low iron ore the ASX.
prices continue to negatively impact its work- contract for the supply of iron ore concentrate,
ing capital position. “This work has been initiated, but should payments for sales will be closely aligned to
such endeavours prove unsuccessful it is un- the timing of each shipment.
The Perth-based company achieved record likely that Sydvaranger Gruve AS [Northern
production and sales numbers for the 2014 Iron’s wholly-owned Norwegian operating “The combination of these arrangements
calendar year, but could not make a profitable subsidiary] will be able to continue as a going with Sydvaranger Gruve’s financers and
return during the March quarter as the aver- concern in its present form beyond the end of off-take partner are expected to sustain the
age realised price of sales from Sydvarang- the June quarter.” group’s financial position during the June
er slipped to $US49/dmt over the first three quarter at a level sufficient to maintain normal
months of 2015. Northern Iron’s stocks were trading at 1.2c/ operations and the activities of the business,”
share at the time of print, having once peaked Beckmand said.
Like several other iron ore producers in the at $4.35/share in May 2008 and holding firm
current market, Northern Iron was able to suc- at about 20c/share early last year. Following record concentrate production of
cessfully restructure some of its short-term fi- 2.34mt and record sales of 2.38mt in 2014,
nances in a bid to stay afloat and operations As part of the financing restructure, the the company reported concentrate produc-
were able to continue as normal into the June company’s main backers – DNB, Innovation tion of 501,000t (down 11% on the previous
quarter. Norway and Tschudi Bulk Terminals – offered quarter) and concentrates sales of 550,000t
waivers on servicing debt facility obligations (in line with the previous quarter) in the first
However, a bleak picture of the Sydva- and associated covenants until the end of this three months of 2015.
ranger’s future was presented to sharehold- month, while an agreement was struck with its
ers in late March when Northern Iron manag- largest customer to continue to apply amend- A new quarterly C1 cash cost of $US58/
ing director Antony Beckmand warned of the ed pricing terms for the current quarter. dmt (down 12% on the previous quarter) was
mine’s likely closure if the iron ore market did achieved during the March quarter as the
not improve. DNB also adjusted the borrowing base company terminated some operational con-
mechanism of the working capital facility to tracts for outsourced activities, including a
“Further effort is required to pursue options help Northern Iron manage its liquidity posi- mobile equipment maintenance contract.
to improve the financial position of the com- tion and will also undertake any foreign ex-



Boss expands on nickel sniff

With myriad other juniors Boss has now pegged ground in three Swedish locations
aiming to do the same
thing, there is little unique about ground in Sweden doing some further map- a deal struck in July, Boss will allow experi-
Boss Resources Ltd’s search for ping,” he said. enced Burkina Faso explorer Gryphon Miner-
Nova-Bollinger lookalikes. How- als Ltd the right to earn up to 80% interests in
ever, while the majority have That is likely to be in August and by then three gold assets; Golden Hill, Gourma and
stayed close to the Fraser Range Boss hopes to be on the ground in Norway Tenkodogo.
in which Nova was discovered, as well where the company is planning geo-
Boss has taken its search to the physical programmes at the newly acquired Williams said the company was delighted
other side of the world. Linn nickel-copper project. with the work Gryphon had completed since
the earn-in agreement was signed.
In December, the company “As soon as we can we will do some innova-
secured additional licences in tive high-powered EM work in Norway.” “Gryphon is a quality explorer with a very
Norway, giving it exposure to a good team,” he said.
third Scandinavian jurisdiction Outside the nickel-copper targets, Boss
following its acquisition of pro- has encountered graphite mineralisation In February, Gryphon announced high
jects in Finland and Sweden. which it is also considering testing. Fellow tenor gold geochemical anomalies at Gourma
ASX-listed junior Talga Resources Ltd has with values of up to 27.5 g/t gold in auger drill-
“Geologically, Scandinavia is enjoyed strong market support for the de- ing and 19.7 g/t gold in rock chip samples.
very interesting and quite un- velopment of its Vittangi graphite project in
derexplored,” Boss technical northern Sweden and Williams believes Boss Williams said the Gryphon partnership
director Peter Williams told Pay- could find its own success. would allow Boss to devote both time and
dirt. “The governments have money to the Scandinavian assets.
built some excellent geological “We are looking at some graphite oppor-
databases which allow you to tunities on our Swedish property. We didn’t “There is still fantastic opportunity to grab
launch forward in exploration initially go looking for graphite but when you ground there and we continue to see pros-
with much of the risk removed.” are using EM there is always a chance you pects come up.”
could find graphite. One of the conductors we
The Scandinavian region didn’t even drill because it was so conductive He did, however, have a warning for Aus-
has a long history of nickel ex- we knew it had to be graphite.” tralian explorers considering entering the re-
ploration, dating back to the gion.
discovery of the Outokumpu Williams said the acquisition of additional
nickel field more than a century ground in Scandinavia had been well received “You have to be careful exploring there
ago but Williams said Boss had by investors. because it is a very different terrain to Aus-
changed its focus from low- tralia; it is a glacial terrain. That is not always
grade, large nickel orebodies to “The share price is proof investors have a comfortable game for Australian explorers;
something more familiar to Australian explor- supported us,” he said. “We were down to 1c particularly geologically and geochemically
ers. in January but now we are back up to 2.3c. but the geophysics are very good.”
People are happy with what we are doing.”
“Nickel exploration has always been fo- – Dominic Piper
cused on the large-tonnage, low-grade The continued expansion in Scandinavia
Outokumpu-style complexes but in the last comes at a time when Boss is farming out
5-10 years a different style of mineralisation, some of its West African gold portfolio. In
higher grade and similar to the Fraser Range
or Raglan, has begun to emerge.

“It is completely different and you have to
use a different magnetic signature. We see it
as a major opportunity.”

The change in targeting is apparent in Swe-
den, where Boss has pegged a series of tene-
ments in the last year, following encouraging
results from its maiden drilling programme at
the Skogtrask project.

The company reported a hit of 20.3m @
0.3% nickel and 0.2% copper from Skogtrask
in August 2014 and has since picked up fur-
ther ground at Nottrask and Lilltrask, also in
northern Sweden around the port town of Lu-

The 3,672ha Nottrask project contains a
10km by 5km eye-shaped intrusion and out-
cropping massive and breccia nickel (up to
1.25%) and copper (up to 1.82%) sulphides in
an 80m-long gossan. At Lilltrask, the licences
cover a strong magnetic anomaly with asso-
ciated outcropping mafic-ultramafic intrusive

Williams said the Boss exploration team
was keen to get on the ground in northern
Sweden this year.

“As soon as the snow melts we’ll be on the



Hannans’ lap full in Sweden

Fresh from a stint living in Sweden, what Hannans is best at, and it has prov-
Damian Hicks is back in Australia to en a cost-effective model for extracting

remind investors of the value proposition value from projects during tight funding

inherent in Hannans Reward Ltd. environments.

“That is the challenge; to communi- Currently, Hannans is free-carried at

cate that the company has a portfolio two projects: the Lake Johnston nickel

consisting of copper, nickel, PGEs, project with Neometals Ltd and the

gold and iron. They are core commodi- Pahtohavare copper-gold project in

ties and it is a basket of commodities Sweden.

that gives you exposure to the ups and Swedish mining company Lovisagru-

downs which happen in commodity cy- van AB signed a JV agreement with

cles. We need to get out there and tell Hannans over Pahtohavare, which will

the story and I think the market will be see the latter retain a 25% free-carried

suitably impressed,” the Hannans man- interest in the project through to a deci-

aging director told Paydirt. sion to mine.

The company’s foray into Scandinavia Pahtohavare resources at the Central

was through the takeover of Scandina- deposit include 2.3mt @ 1.74% copper

via Resources Ltd in 2012. The Kiruna and 0.6 g/t gold (2.31% copper equiva-

iron and copper-gold projects plus cop- lent), while historical production of 1.7mt

per-gold interests in Norway made up @ 1.9% copper and 0.9 g/t gold has

the deal. been reported from the Southern de-

At that time of the Scandinavia Re- posit.

sources transaction, Hannans was Hannans believes there is potential

looking to direct the majority of its funds for copper-gold ore between Central

towards development of the Kiruna iron and Southern, with no drilling testing

project, particularly the Rakkuri iron pro- Lapland is a project Hannans believes has camp-scale potential contiguous host stratigraphy to date.

ject, south of the largest underground Early estimations are that there is

iron ore mine in the world, the LKAB-owned classify their age and understand their chemi- potential for two or three high-grade copper

Kiruna magnetite mine. cal signatures. deposits to be hosted across the project area.

“We still see a significant amount of value “I think we can prove that these intrusives Once resources have been defined for min-

in our iron projects, including Rakkuri, and have the potential to host metal in the eco- ing, production scenarios will not be far off.

that is evidenced by the fact that last year, as nomic quantities and I think we will get a lot “Production can happen very quickly,”

disclosed to the ASX, a company agreed to of interest from major companies who want Hicks said.

pay us $US1 million to do due diligence on the access to a project in a low sovereign risk “With Lovisagruvan being Swedish, they

project. It is a good project and it is well locat- area that has the potential to host a significant are very experienced, they understand mining

ed, obviously iron is in a very tough spot at the amount of metal. That is our job at hand, pro- and they understand environmental, social

moment, but the location of the project means ject generation, identifying geological models and indigenous aspects to a mining project [in

it will remain a project of interest,” Hicks said. and terrains and opportunities, adding value Sweden]. They have joined with us because

While activity at Rakkuri plays out in the and packaging them up and bringing in a they want to start mining the copper oxide

background for now, Hannans is making the high-quality partner,” Hicks said. material as soon as possible which is their

running elsewhere in Sweden. Courting partners for projects is essentially sole focus. They recommenced metallurgi-

The Lapland nickel-copper-PGE pro- cal test work and they will do the next

ject, which straddles the Finnish border round of advanced drilling in June/July.

in Sweden’s north-east, is Hannans’ At the end of that they will have a really

newest interest and immediate focus of good understanding of whether this has

attention. the potential to be an economic oxide

Hicks said Hannans had first-mover deposit.”

advantage at Lapland, a project which Lovisagruvan’s involvement at Pahto-

has all the right hallmarks to host large havare is perhaps the project’s best

deposits. chance of near-term production, and

MGH, the regional scale gravity fea- when the project bears fruit, Hicks’s

ture, is said to be very similar to the feet-on-the-ground approach in Swe-

large-scale gravity anomaly repre- den will appear all the more worthwhile.

sented in the West Musgrave and East “It is very important to live near the

Kimberley nickel sulphide regions in project, understand the country you are

Western Australia. operating in and assist in-country staff

Hannans believes MGH is present in to take your project forward. It is impor-

a potential new magmatic province in tant for your relationships with every-

Sweden, with early stage work indicat- one in country and you can begin to un-

ing Lapland is possibly home to camp- derstand more about your own project,”

scale quality deposits. Hicks said.

“We need to try and identify if there – Mark Andrews
is any opportunity to host 1mt of copper

metal as a benchmark,” Hicks said.

Hannans plansto do some bedrock

drilling in the northern summer, cross- The Rakkuri iron project is still of interest to Hannans

ing all the intrusive rocks in order to and other parties


Kvanefjeld nears permitting phase

Greenland Minerals and Energy Ltd will Greenland Minerals will begin the permitting process to develop the Kvanefjeld rare earths and
take a major step towards development uranium project in the next quarter
of its Kvanefjeld rare earths and uranium
project in the coming months when it begins because the company has been focused on Greenland Minerals also renegotiated the
the permitting process. completing the feasibility study and the envi- terms of its MoU with potential rare earths de-
ronmental and social impact assessments. velopment partner China Non-Ferrous Metal
A feasibility study on Kvanefjeld – the Industry’s Foreign Engineering and Construc-
world’s largest undeveloped rare earths In February, the company put out an updat- tion Co Ltd (NFC) in the last quarter.
and uranium resource – was due for re- ed resource estimate for Kvanefjeld of 673mt
lease at the time of print. It is one of three containing 368 mlb uranium oxide and 7.4mt It followed a successful 12-month coopera-
key documents required for the start of per- total rare earths oxide, including 143mt @ 303 tion and information exchange programme on
mitting. ppm uranium oxide,1.2% total rare earths ox- the Kvanefjeld deposit, including NFC con-
ide and 0.24% zinc in the measured category. ducting the capital cost estimation for the fea-
The other two documents – environmen- sibility study.
tal and social impact assessments – are This update takes the global resource es-
expected to be finalised early in the third timate for Kvanefjeld and the neighbouring “Not only are they very proficient in rare
quarter, paving the way for the Perth-based Sørensen and Zone 3 deposits to 1.01bt con- earths separation, they are also a very well
company to apply to develop the multi-ele- taining 593 mlb uranium and 11.13mt total rare respected EPC contractor and have a repu-
ment project. earths oxide. tation for building mines, smelters, refineries
and processing facilities all around the world,
Greenland Minerals managing director Mair said the resource upgrade had little so there is certainly a lot they can bring to the
John Mair said his company would contin- impact on the outcomes soon to be released project,” Mair said.
ue to work closely with the country’s gov- in the feasibility study.
ernment to firm up a development timeline The company is now looking to secure a
and win an exploitation licence to mine rare “There was a slight increase in terms of partner for the uranium division of the project,
earths and uranium on the southern tip of grade and tonnage, but more important was possibly in the form of an off-take agreement,
the former Danish colony. the fact we shifted just over 140mt into the and remains in negotiations with third-party
measured category,” he said. infrastructure providers for construction of
“Greenland remains a place that is very an accommodation village and port in south
much a stable democracy, focused on estab- “That gives us a very solid resource base to Greenland.
lishing a strong resources sector and work- move ahead and look to establish an initial ore
ing with foreign companies to attract foreign reserve, but also provides a solid base for the Mair was upbeat about the future of the rare
investment to turn this into reality,” Mair told feasibility study to have that material in a high earths and uranium markets, particularly the
Paydirt. confidence category.” former, after a bleak few years for both com-
“Permitting is a very important process be- John Mair
cause essentially at the end of it your permit “What we’ve seen during the last 12-24
becomes your social ticket to operate. We’re months is the progressive implementation of
confident in our relations with the Greenland a major consolidation programme of the rare
Government and with all the key regulatory earths sector in China and that’s slowly begin-
bodies and we’ll look to maintain clear lines of ning to have an impact on the supply channels
communication throughout the process.” and we’re starting to see a price response,”
Mair said.
The feasibility study is expected to con-
firm robust economics for the development of “This is only going to tighten supply and
Kvanefjeld as previously flagged to the market increase the cost of supply of rare earths in
via a PFS in 2012 and a follow-up mine and China, so that really enhances the market
concentrator study in 2013. condition we’ll be moving into as we pro-
gress towards the development stage for
The PFS was focused on an initial through- Kvanefjeld.”
put of 7.2 mtpa to generate four distinct rare
earths and uranium products, while the mine – Michael Washbourne
and concentrator study assessed the viability
of a smaller 3 mtpa operation with expansion

Mair said the impending feasibility study
was the culmination of all the testwork his
company had completed on Kvanefjeld over
the years and would not contain any unwant-
ed surprises.

“There’s a few minor changes just in terms
of the degree of processing we’re doing in
Greenland, but in terms of actual technical el-
ements of the project there haven’t been any
significant changes,” Mair said.

“It very much builds on a lot of the process
work we’ve been doing for a number of years
because it’s really important you continue to
build up the level of confidence and rigour
in one flowsheet, rather than chopping and
changing aspects of it, which is something I
think you see far too often.”

The first five months of 2015 has been a
busy time for Greenland Minerals, not just



FinnAust sees light in the south

Scandinavia has been the epicentre of some FinnAust is among the most active explorers in south Finland
big resources plays of late and Western
Areas NL has been keeping its eye on all of amine its drilling results, the company is also closed approximately 1.1mt of low grade ore
them. assessing the commercial viability of the min- was left behind.
eralisation and its ability to hang tough in a
ASX peer Altona Mining Ltd stunned many volatile commodity market. FinnAust has earmarked its five highest
with the sale of its Finnish assets to Swedish ranking targets at Enonkoski for further analy-
powerhouse Boliden AB for $116 million last Drilling has not been limited to Hamma- sis while it awaits the release of Finnish Gov-
year, while emerging nickel miner Sirius Re- slahti, with a shallow drilling programme un- ernment research into the mineralisation of
sources NL made $2 million in a privately held der way at the Enonkoski nickel-copper mine the Outokumpu district.
company with assets in Finland and Sweden. area within the Kelkka nickel-copper project.
The company also has a large tenement
Sirius’ investment entitles it to 67% of the Outokumpu started mining the area, in- holding in the Outokumpu district and aims
company, which is one of the largest mineral cluding satellite deposits, in the 1980s, with to thoroughly assess the Government’s data
title holders in the key mining districts of both an estimated 524,000t nickel-copper concen- before contemplating an exploration strategy.
Finland and Sweden. trate produced comprising 47,800t nickel and
14,300t copper over 10 years. While commodity prices have been a
“I was over in Helsinki recently and the dampener to attracting investment, it is per-
hot news has been the Altona sale of its Ky- FinnAust believes that after the mine was haps a good time to start strategising before
lylahti underground mine to Boliden, which
is just along strike from our Outokumpu pro- the market turns.
ject. Obviously there was a fair bit of interest On a recent visit to London,
in that and with Boliden being quite a large
Scandinavian company showing quite a large Lougher said there were signs
interest in Finland,” Western Areas managing better days were on the horizon
director Dan Lougher said. for resources companies.

“Then of course the Sirius farm-in deal “Things seem to have taken a
up in Lapland with a privately held company bit if an upswing,” he said.
and of course the ongoing interest in Sakatti
project [copper-nickel-PGE], which is Anglo “Liquidity [for FinnAust] is
American’s discovery in Northern Lapland. tough because we [Western Ar-
There is plenty of interest up there and I guess eas] hold 60% of the stock, but
Western Areas, being a 60% shareholder in it looks like the market is turning
FinnAust, is using it as a vehicle to evaluate a bit more positive into resource
ongoing activity in that area.” territory. It’s early days, but it
hasn’t been disappointing. We
In the meantime, FinnAust won’t be dis- raised another £1 million there at
tracted from developing its own portfolio of the end of last year, so I guess
projects in south Finland. they are starting to look for more
exploration stories in Europe,” he
FinnAust is the most active explorer in the said.
prospective 300km-long base metals prov-
ince in Finland. – Mark Andrews

Having raised £1 million late last year, the AIM-listed FinnAust raised £1 million at the end of 2014 to
company has been able to advance work on advance its three key projects in south Finland
its key projects, including the Hammaslahti
copper project.

Recent drilling at Hammaslah-
ti targeted potential extensions
and repetitions to known copper
deposits, while the company re-
ported geophysics had been ef-
fective in defining drill targets.

“Hammaslahti is basically a
historical mine which had been
producing copper with some by-
products and we had been doing
quite an extensive drill out there
last year to pull up a couple of
new lodes adjacent to the one
that was mined out,” Lougher

The company did not drill with-
out reward, with discovery Hole
R352 returning 5.6m @ 3.2%
copper, 2.7% zinc, 0.7% lead, 71
g/t silver and 0.76 g/t gold from
196.8m downhole, including
8.65m @ 2.2% copper, 2% zinc,
0.5% lead, 47 g/t silver and 0.5
g/t gold.

As FinnAust continues to ex-


Artemis reverts back to staples

Artemis Resources Ltd is looking to move Historic production from Amitsoq of 6,000t @ 21% graphite was recorded in the early 1900s
away from the niche metals market and
into core commodities, such as nickel and cop- graphite.” and I think the current market is the perfect
The high grade nature of Amitsoq makes it time to pick up quality assets.”
For a long time Artemis has been advanc-
ing its Antimony project, Eastern Hills, in Ash- a proposition worth chasing for Artemis, even – Mark Andrews
burton, Western Australia, however, its focus more so considering logistics to market are
has switched to nickel and copper prospects
in West Pilbara and southern Greenland. not complicated.

In southern Greenland, the company has The Nalunaq gold
moved to acquire exploration licence 2013/06
which comprises the Amitsoq graphite mine. mine is 20km north

While historical open pit production of of Amitsoq, while the
6,000t @ 21% graphite from 1911-1924 has
been recorded, no mining or exploration activ- mine – located on an
ities have been conducted in the modern era.
island – is 15km north
Artemis director and exploration general
manager Ed Mead said while evidence of of the town of Nanor-
graphite mining was alluring, Amitsoq’s poten-
tial to host other commodities was a definite talik. 13 – 14 April 2015 15 April 2015
attraction for the company. “Access is not
Adelaide Convention Centre Adelaide Convention Centre
“We are trying to change Artemis away bad and we are right
from boutique metals and move it towards
nickel and copper in West Pilbara and the rea- on shipping routes,
son why I like Amitsoq is that it has very good
potential for nickel and copper,” Mead said. whether it is to North

Artemis is waiting for the licence to be America, China or Eu-
transferred into its own name before it can
start exploiting the potential of Amitsoq. rope,” Mead said.

Mead said the best conditions for explo- Having only ac-
ration in southern Greenland would be from
June/July to September. quired Amitsoq in

A VTEM survey is being planned at Am- February, success at
itsoq to give the company an idea of project
scale and, hopefully, indications of nickel- the project may en-
copper sulphide potential.
courage Artemis to
“What was mined previously, was outcrop-
ping, it stuck out of the ground, and mined expand its interests in
down to about 10m,” Mead said.
“With graphite being a fantastic conductor
and there being a lot of graphite outcropping “If there were other
outside of the licence area, with an airborne
EM survey we should be able to work out what projects in Greenland
type of scale we are looking at.”
we would consider
While modern day exploration has been
non-existent, historic production and metal- that; we would consid-
lurgical test work supports the presence of
large flake or “super jumbo” size flake graph- er projects anywhere
ite grading 21%.
really,” Mead said. The CD-Rom of the 2015
To put that in perspective, the material at “The plan in the cur- South Australian Resources and
Amitsoq is equivalent to a 9 g/t gold orebody, Energy Investment Conference
Mead said. rent market, where
projects are probably
“Jumbo flake carries a premium and pric- the cheapest they are
es have recently been around $US1,750/t. If
you quote that back to the gold price of about ever they are going is available
$US1,200/oz and graphite at $US1,750/t at to get, I think people
21% graphite it is equivalent to about 9 g/t
gold orebody,” he said. are starting to realise CD-Rom for conference delegates – $115 (inc. GST)
they aren’t going to
“People often talk about grade of orebod- CD-Rom for non-conference delegates – $175 (inc. GST)
ies. People understand iron ore and gold but get 2007 prices. It has
you do need to put it into perspective. If grade
at 20% [graphite] could be replicated in quan- taken a long time for Phone (+61) 8 9321 0355 or email [email protected]
tity, we have the right type of flake size, the
only other company that has grade near that people to realise that
is [Talga Resources Ltd]. Their main push is
graphene; all the other graphite companies
have half that grade, somewhere around 10%



Dragon hardly finished
in Finland

Dragon Mining Ltd will this At the time of print, Drag-
year celebrate a decade of on was confident of getting
mining in Northern Europe, but stope 230-K32 back online
there’s no sign of the company and recovering its deficit
getting caught up in the occa- from the March quarter.
sion as it presses on with work
on its assets in Finland. In spite of the production
setback, Dragon bumped
Much of the company’s at- Jokisivu’s resource to
tention at the beginning of 209,000t @ 5.7 g/t gold for
2015 has been directed to 38,500oz, representing a
its Orivesi gold project, from significant increase from its
which 36,850t ore was mined previous 160,000t @ 4.5 g/t
in the March quarter. Howev- gold for 23,000oz resource.
er, operations were affected
by the cessation of production And it’s not done yet.
from pipe two on its 980m lev- A 15-hole surface explo-
el reducing production to one ration drilling programme
stope, a cave-in of a sill pillar was recently completed at
on stope 550m and slow de- Jokisivu’s Arpola prospect,
velopment due to poor ground returning intercepts of 4.3m
conditions. @ 27 g/t gold and 6.4m @
28.95 g/t gold.
Despite its problems, Drag- Drilling also started at its
on drilled 35 holes into Orivesi Kujankallio deposit between
for 5,296m last quarter; 31 of 65m and 100m, with 15
which targeted extensions of holes completed at the time
the Kutema lode system be- of print. Results from the first
tween the 1060-1220m levels. Dragon’s Finnish assets have produced near 215,000oz gold to date two holes included 1.05m @
9.44 g/t gold, 3m @ 3.63 g/t
Standout intersects in- gold and 5.85m @ 3.82 g/t gold.
cluded 9.75m @ 23.96 g/t gold from A second definition drilling pro-
1,097m and 22m @ 5.57 g/t gold gramme at Arpola, comprising 16
from 1,125m. holes from 100-120m levels, had
just started at the time of print.
Those results follow previous in- The programme is designed to
tersects of 5m @ 21.68 g/t gold, improve confidence in the Arpola
10.5m @ 4.93 g/t gold and 20.4m @ resource model and provide better
5.64 g/t gold. information for footwall stoping and
development planning.
Dragon also drilled eight holes of At Kaapelinkulma, potentially
a 12-hole programme to help stope Dragon’s third Finnish gold mine,
definition in the mine’s Kutema area the company capped off the drilling
between 1040-1080m levels which phase of a 45 hole, 2,994m surface
returned promising 18.5m @ 11.73 diamond core programme designed
g/t gold, 11.9m @ 6.55 g/t gold and to improve the density of test work
10.5m @ 6.22 g/t gold. over the southern lode system with
a goal to update its resource.
An extra three holes were drilled Results from the first 29 holes in-
to evaluate a previously untested cluded 3.3m @ 13.79 g/t gold, 4.8m
area west of Orivesi’s Sarviso lode @ 3.95 g/t gold, 6.35m @ 5.08 g/t
system between 240-300m the first gold, 2.8m @ 32.41 g/t gold, 2.95m
two holes returning a high-grade in- @ 5.54 g/t gold and 3.6m @ 6.44
tercept of 3.55m @ 59.94 g/t gold. g/t gold.
Dragon was still waiting on a re-
At the time of print, drilling had sponse from the Finnish Govern-
started on an eight-hole programme ment regarding an application for a
planned to test the boundaries of review of Kaapelinkulma’s current
Kutema pipe five between the 1110- environmental permit at the time of
1200m levels. print.

Dragon’s Jokisivu gold mine un- – Rhys Dickinson
derperformed slightly in the quarter,
mining 35,921t ore, falling short of its Dragon continues to explore Orivesi at depth
guidance by 7%.

Production from its high-grade
stope – 230-K32 – was delayed un-
til April and as a result marginal ore
grading 1.5-2.5 g/t gold was fed to
the mill.


Drake presses on in Norway

Jason Stirbinskis says unlike The Sulitjelma project in Norway is Drake’s priority target in Scandinavia this year
many juniors who have gone
into hibernation as commodity course, in this economic climate you have to nickel project, and its Norwegian copper pros-
prices have cooled, Drake Re- be flexible, nimble and deal with what hap- pect, Joma.
sources Ltd is going to do what pens in the market. The intention is to go back
its shareholders expect of it: there before the year is out.” “The intention was to fly some VTEM at
explore. Granmuren, but it didn’t eventuate as the mar-
Despite persisting with Sulitjelma, tough ket continued to sour and we thought it was
The managing director told times have forced Drake to postpone work at best not to make that sort of commitment in
Paydirt Drake prided itself on its flagship Nordic play, Sweden’s Granmuren last year’s economic climate,” Stirbinskis said.
the fact it wouldn’t let up de-
spite the dire state of the mar- “We had a [$1.82 million] entitlement is-
ket, hence it has pushed for- sue fully underwritten by a company called
ward with work at its Sulitjelma T&R Mining Investment Pty Ltd … so we’ve
project in Norway. got some money in the bank. We do have the
money and the capacity to look at Granmuren
Drake completed a VTEM and Joma and we hope to go to both of those
survey at Sulitjelma late last this year … but in this market it’s prudent not
year which confirmed six high to commit too far in advance and make the
priority copper-zinc targets. call a bit later. We don’t need to make the call
right now as it’s not the right time. Hopefully
The survey covered areas with some exciting results out of our work in
of historic mining activity that Guinea and Sulitjelma we will see some con-
ceased operation in the late fidence back in the market and some action in
1980s and produced upwards the drag stock. That will give us the momen-
of 25mt copper and zinc ore. tum and incentive to keep going with explora-
tion later in the year.”
The company defined four
targets in the western thrust, – Rhys Dickinson
or Sydgruvefelt ore field, which
is an area of known massive Jason Stirbinskis
sulphide mineralisation hosting
the Sagmo (1.9mt @ 1.6% cop-
per and 0.23% zinc) and Ja-
kobsbakken (4.47mt @ 1.55%
copper and 2.42% zinc) historic
orebodies, and two anoma-
lies in the untouched eastern

Although Drake expected
best results in the heavily ex-
plored western thrust, it was anomaly three
– located in the east – that caught Stirbinskis’

“That was most interesting because there is
very little knowledge of that area,” Stirbinskis

“Most of the historical workings are around
the top of the arms and on the western side,
so when we got this very strong anomaly
close to the surface everyone was interested
to see what it was, as very few people – in fact
no one – had walked over it and mapped it in
the past.”

Field mapping immediately following the
VTEM survey confirmed the presence of out-
cropping massive sulphides and dump sam-
ples from old workings and composite chip
samples of local outcrop returned encourag-
ing results of up to 10.7% copper and 15.1%

Stirbinskis said all six targets were now
being targeted by a ground EM programme,
which would help to define potential drill tar-

“[It will] help us to be very targeted in where
and how we drill rather than taking a higher
risk, more drill frequency approach in the
hope that the right one goes through it,” he

“Hopefully we will drill this year, but, of




A2012/13 survey conducted by Austmine – economy has not gone unnoticed by the Fed- The centre will serve as a great base for
the peak industry body representing Aus- eral Government, which has stepped in to en- the next generation of METS leaders to col-
tralia’s METS industry – revealed the sector sure the sector’s continued growth. laborate on ideas and opportunities to build
was worth $90 billion in gross annual revenue on the successful businesses established by
and employs 386,000 people, representing 3% Under the Government’s Industry Innova- Australian companies in the METS sector.
of Australia’s growth value add. tion and Competitiveness agenda, a METS
Industry Growth Centre will be established. The next 16 pages are dedicated to Pay-
Furthermore, the $15 billion of exports in dirt’s third annual International Services Di-
the METS sector fetched more than Austral- The METS Industry Growth Centre, to be rectory, which features Australian and inter-
ia’s celebrated beef, wheat and wine indus- chaired by Austmine’s chair Elizabeth Lewis- national METS companies applying their craft
tries combined. Gray, will be set up to stimulate innovation in mining rich regions, such as Africa and
and entrepreneurship, improve competitive- Latin America.
The importance of the METS to Australia’s ness and create new job opportunities.


PYBAR tackles WA underground

Underground mining contrac- Kalgoorlie.
tor PYBAR Mining Services is
ready to take the fight up to rivals Noort credited a culture of pro-
Barminco Ltd and Byrnecut Aus-
tralia Pty Ltd after establishing new ductivity and an ongoing desire to
bases in Western Australia.
reduce the cost of operations as
PYBAR recently opened of-
fices and workshops in Perth and the main reason for the company’s
Kalgoorlie to signal its intent on
becoming a major player in WA’s good standing in its home market
lucrative hard rock underground
mining space. of NSW.

The family-owned company “We went in there with fairly com-
headquartered in Orange, New
South Wales, currently holds two petitive rates and I think the way we
underground mining contracts in
the west and is on the verge of performed was at a very similar
adding a third to its burgeoning WA
portfolio. level to how other companies might

PYBAR business development have, but they would have had a
manager David Noort said the company had
been looking to enter the WA underground lot more assets and people at their
market for some time.
disposal,” Noort said.
“WA constitutes about half of the under-
ground mining contract market in Australia so “There was a lot of teamwork
essentially that means WA is the equivalent
of all the other states combined,” Noort told there and we offered a lot of flexibil-
ity than other companies who are
“It is definitely a very significant market in
its own right and whilst we have a very strong PYBAR has been overseeing underground mining activities very specialised and have a nar-
shareholding in the eastern states markets, for Saracen at Red October row focus, whereas our focus is a
you can’t really say you’re a truly national ser- lot broader and I think that improves
vice provider until you’ve captured a sizeable
proportion of the WA market.” “It’s still a $1.5-2 billion a year market in motivation and satisfaction in the job because

PYBAR was founded 21 years ago by Paul Australia, so there’s healthy competition out there is a lot more variety.”
Rouse while he was working on the North-
parkes mine in central NSW. Rouse offered there,” Noort said. PYBAR has also experienced similar suc-
to take over the underground mining contract
because he believed his private company “The market is not currently growing, but it’s cess at Red October and Noort believed the
could do a better job than the incumbents.
not necessarily falling back at a great rate of full story of that mine’s achievements were
It saw PYBAR – an acronym for Paul,
Yvonne, Brendan and Andrew Rouse – knots. There’s certainly enough to keep your yet to be reflected in the underground mining
emerge as the premier underground mining
contractor in NSW, but a desire to enter the head above water, but you don’t have do too space.
WA market longed.
much wrong for very long before things can “It’s a mine which went from being a trial
PYBAR was successful in securing an un-
derground mining services contract with Nor- go pear-shaped. mine with never more than three months of life
ton Gold Fields Ltd at the Homestead project
and the company’s taste for work in WA was “At the moment I think PYBAR is perform- ahead of it to now being in a position where
ing really well in a tough market. I think it’s we can see some certainty going forward,”
A contract with Jabiru Metals (now Inde-
pendence Group NL) at the Bentley mine, been a good move to look at what we can of- Noort said.
about 60km north of Leonora, soon followed
before both projects transitioned to owner- fer WA hard rock underground.” “Even now we’re still being asked to mo-
miner operations.
PYBAR has won plenty of praise from its bilise new equipment and de-mobilise along
PYBAR has since picked up a contract with
Saracen Mineral Holdings Ltd at the Red Oc- clients since being awarded Australian Con- with the different strategies. We’re very open
tober mine and has resumed work at Bentley.
The company is also the preferred tenderer tract Miner of the Year for its work at the Hera to these things and that’s why we aim to pro-
for Ramelius Resources Ltd’s Vivien gold pro-
ject, about 15km west of Leinster. gold and base metals mine in NSW. vide a very flexible contract model.”

Noort, who is also the company’s opera- Hera operator Aurelia Metals Ltd was also PYBAR currently employs about 80 people
tions manager for WA and South Australia,
said he found the market for underground named Emerging Company of the Year at at Red October and Bentley and another 60
mining contractors in WA to be quite parochial
but he believed there were opportunities for the 2014 Diggers and Dealers conference in are expected to come on board once a con-
outsiders to make a mark.
tract for underground mining at Vivien is for-


Noort said the company had no concerns

about access to funding despite being pri-

vately held and was adamant PYBAR could

match it with the likes of Barminco and Byrne-

cut in their own backyards.

“The power of perception can govern de-

cision-making and part of the reason why we

need to get out there and tell people who we

are and what we do is because quite often

part of the decision-making criteria that peo-

ple use is influenced by their perceptions,”

Noort said.

“We’re competing against two companies

that are focused on the underground hard

rock space, but the difference is we’re doing

business in their backyard while we’re mainly

operating from a backyard that is based over

east so that’s why we’re getting out there and

telling people we think we have much broader

capability to start even the largest of jobs in


– Michael Washbourne

David Noort



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Company: Davies International Tel: +61 8 9250 8100 Company: Ertech
Expertise: Drilling equipment Email: [email protected] Expertise: Civil construction
Address: 624 Bickley Road, Maddington, Web: Address: 118 Motivation Drive, Wangarra,
WA 6109 WA 6065
Tel: +61 8 9452 1066 Company: Energold Drilling Corp Tel: +61 8 9302 6666
Email: [email protected] Expertise: Drilling Email: [email protected]
Web: Address: Suite 1100, 543 Granville Street, Web:
Vancouver, BC, Canada V6C 1X8
Company: Dotmar Engineering Plastic Tel: +1 604 681 9501 Company: ESS
Products Email: [email protected] Expertise: Engineering supplies and ser-
Expertise: Supplier of engineering thermo- Web: vices
plastics Address: N/A
Address: 30-32 Garden Boulevard, Dingley, Company: Energy Drilling Australia Tel: +61 8 9370 3155
VIC 3172 Expertise: Drilling Email: [email protected]
Tel: +61 3 9552 4444 Address: 799 Fairfield Road, QLD 4105 Web:
Email: [email protected] Tel: +61 7 3892 9700
Web: Email: [email protected] Company: ETS Australia
Web: Expertise: Machine grease and industrial
Company: DRA International lubricants
Expertise: Engineering consultants Company: Enterprise Connect Resources Address: 4 Cache Bend, Wangarra, WA
Address: 3 Inyanga Close, Sunninghill, Technology 6065
2157, South Africa Expertise: Business support and advice Tel: +61 8 6305 0926
Tel: +27 11 202 8600 Address: Level 4, 341 George Street, Syd- Email: N/A
Web: ney, NSW 2000 Web:
Email: [email protected] Tel: +61 2 9397 1670
Email: [email protected] Company: EVH Drill Engineering
Company: Drillex Web: Expertise: Builder of multi-purpose drills
Expertise: Drilling services Address: 43 Wittenberg Drive, Canning
Address: Drillex (Aust) Pty Ltd PO Box 4150 Company: Epitech Products Vale, WA 6155
Gumdale, QLD 4154
Tel: +61 7 3390 1225
Email: [email protected]

Company: Drilling & Grouting Services
Expertise: Drilling and grouting
Address: 1 Kew Street, Welshpool, WA 6106
Tel: +61 8 9361 3200
Email: [email protected]

Company: DTH Products
Expertise: Drilling solutions
Address: 99 Kelliher Road, Richlands, QLD


Tel: +61 8 6253 0800 Company: Fluor Australia Web:
Email: [email protected] Expertise: EPCM services
Web: Address: Perth; Level 1, The Atrium, 168 St Company: Genrec Engineering
Georges Terrace, Perth, WA 6000 Expertise: Steel solutions
Company: Evolve Scientific Recruitment Tel: +61 8 9278 7555 Address: Dekema and Niemann Roads,
Expertise: Recruitment Email: N/A Wadeville, 1428
Address: Suite 701A, 9-13 Bronte Road, Web: Tel: +27 11 876 2300
Bondi Junction, NSW 2022 Email: [email protected]
Tel: +61 8 2 8071 4290 Company: FMC Technologies Singapore Web:
Email: [email protected] Expertise: Technology solutions for the
Web: energy industry Company: Geodrill
au Address: 5875 N. Sam Houston Pkwy. W. Expertise: Drilling
Houston, Texas, 77086 Address: 44 Roxburgh Avenue, Lonsdale,
Company: Exact Mining Services Tel: 281 591 4000 SA 5160
Expertise: Operators of mining and civil Email: [email protected] Tel: +61 8 8186 3690
construction projects Web: Email: [email protected]
Address: 43 Greenhill Road, Wayville, SA Web:
5034 Company: FMG Engineering
Tel: +61 8 8372 1100 Expertise: Engineering Company: Geoimage
Email: [email protected] Address: 42 Fullarton Road, Norwood, SA Expertise: Satellite imagery and geospatial
Web: 5067 solutions
Tel: 1300 975 878 Address: PO Box 789, Indooroopilly QLD
Company: Extrastaff Recruitment Email: [email protected] 4068
Expertise: Recruitment Web: Tel: +61 7 3871 0088
Address: Level 4, 90 King William Street, Web:
Adelaide, SA 5000 Company: Foraco International SA Email: [email protected]
Tel: + 61 8 8202 4111 Expertise: Drilling contractor
Email: [email protected] Address: 26 Plage de l’Estaque, 13016 Company: Geoprobe Systems
Web: Marseille, France Expertise: Manufacturing, drilling, environ-
Tel: + 33 4 96 15 13 60 mental and exploration services
Company: Filter Technology Australia Web: Address: 1835 Wall Street, Salina, Kansas
Expertise: Filtration systems Email: [email protected] 67401
Address: 44 Bonville Avenue, Thornton, Tel: 1 800 436 7762
NSW 2322 Company: Frank Walsh Drilling Email: [email protected]
Tel: +61 2 4966 1833 Expertise: Drilling Web:
Email: [email protected] Address: Mount Barker Road, Totness, SA
Web: 5250 Company: GeoQuest
Tel: +61 8 8391 1433 Expertise: Mineral exploration, GIS and
Company: Fitzroy Engineering Group Email: [email protected] environmental services
Expertise: Engineering Web: Address: PO Box 39541 Lusaka, Zambia
Address: 691 Devon Road, Waiwakaiho, Pri- Tel: 260 211 257063/4
vate Bag 2053, New Plymouth, New Zealand Company: Frog Tech Email: [email protected]/zm
Tel: +64 7 378 5772 Expertise: Geological, geophysical and Web:
Email: [email protected] information management services
Web: Address: N/A Company: Geotech Airborne
Tel: +61 2 6283 4800 Expertise: Airborne geophysical surveys
Company: Flagstaff GeoConsultants Email: [email protected] and exploration
Expertise: Consultants Web: Address: 245 Industrial Parkway North,
Address: Suite 2, 337A Lennox Street, PO Aurora, Ontario, Canada L4G 4C4
Box 2236 Richmond South, VIC 3121 Company: Fugro Tel: [email protected]
Tel: +61 3 8420 6200 Expertise: Collection, processing and inter- Email: [email protected] (outside
Email: postman@flagstaff-geoconsultants. pretation of minerals data North and South America), sales@geotech. Address: Veurse Achterweg 10 2264 SG, ca (within North and South America)
Web: Leidschendam, Netherlands Web:
Tel: +31 0 70 311 1422
Company: Flexi Cadastre Spatial Web: Company: GF Engineering
Dimension Email: [email protected] Expertise: Pipe fabrication and structural
Expertise: Enterprise scale land manage- manufacturing
ment solutions Company: Gekko Systems Address: 39 Lionel Street, Naval Base, WA
Address: 301-221 West Esplanade, North Expertise: Processing 6165
Vancouver, BC V7M 3J3, Canada Address: 321 Learmonth Road, Ballarat, Tel: +61 8 9410 1615
Tel: +1 604 770 3539 VIC 3350 Email: [email protected]
Email: [email protected] Tel: +61 3 5339 5859 Web:
Web: Email: [email protected]
Web: Company: GHD Group
Company: Flinders Logistics Expertise: Professional and engineering
Expertise: Logistics Company: Genet Mining services
Address: 296 Vincent Street, Port Adelaide, Expertise: Mineral processing, mining and Address: 133 Castlereagh Street, Sydney,
SA 5015 safety NSW 2000
Tel: +61 8 8447 0611 Address: N/A Tel: +61 2 9239 7100
Email: [email protected] Tel: +27 0 13 590880 Email: N/A
Web: Email: [email protected] Web:



Company: Glastonbury Mining Email: [email protected] Company: Haines Surveys
Consultants Web: Expertise: Gravity survey specialists
Expertise: Consultants Address: 1 Hagan Court, Bullcreek, WA
Address: PO Box 8383, Orange East, NSW Company: GPA Engineering 6149
2800 Expertise: Engineering Tel: +61 8 9332 2140
Tel: +61 2 6365 1392 Address: 91 Magill Road, Stepney, SA 5069 Email: [email protected]
Email: [email protected] Tel: +61 8 8363 2122 Web:
Web: Email: [email protected]
Web: Company: Haver Australia
Company: Global Drilling Products Expertise: Developing and producing pro-
Expertise: Manufacturing, sourcing, and Company: GPX Surveys cessing technology
distribution of drilling and geotechnical equip- Expertise: Airborne and ground geophysics Address: 35 Millrose Drive, Malaga, WA
ment, tooling and drilling additives Address: 4 Hehir Street, Belmont, WA 6104 6090
Address: 19 Loyang Way, 02-08 Changi Tel: +61 8 9477 5111 Tel: +61 8 6240 6900
Logistics Centre, Singapore 508724 Email: [email protected] Email: [email protected]
Tel: +65 6543 9533 Web: Web:
Email: [email protected]
Web: Company: GR Engineering Services Company: Hays
Expertise: Engineering, consulting and Expertise: Recruitment
Company: Global Mining Outsourced contracting Address: Level 12, 172 St Georges Terrace,
Solutions Address: 179 Great Eastern Highway, Bel- Perth, WA 6000
Expertise: Asset management consultancy mont, WA 6104 Tel: +61 8 9322 5334
Address: 8 Eu Tong Sen Street, The Central Tel: +61 8 6272 6000 Email: [email protected]
Clarke Quay, Singapore 059818 Email: [email protected] Web:
Tel: +61 8 6102 1256 Web:
Email: N/A Company: Hedweld Engineering
Web: Company: GSE Lining Technology Expertise: Design and manufacture of min-
Expertise: Manufacturer and marketer of ing equipment
Company: Globaltech Corporation geosynthetic lining products and services Address: 13 Russell Road, Mt Thorley, NSW
Expertise: Tools and technology for drilling Address: 19103 Gundle Road, Houston, 2330
Address: 1/48 Vinnicombe Drive, Canning Texas 77073 Tel: +61 2 6574 0000
Vale, WA 6155 Tel: 800 435 2008 Email: [email protected]
Tel: +61 8 9256 2228 Email: [email protected] Web:
Email: N/A Web:
Web: Company: Hetherington
Company: H&S Consultants Expertise: Exploration and mining title
Company: Golder Associates Expertise: Resources consultants services
Expertise: Consulting, design and construc- Address: Suite 6, 3 Trelawney Street, East- Address: PO Box 765 Willoughby, NSW
tion services wood, NSW 2122 2068
Address: Building 7, Botanicca Corporate Tel: +61 2 9858 3863 Tel: +61 2 9967 4844
Park, 570-588 Swan Street, Richmond, VIC Email: N/A Email: N/A
3121 Web: Web:
Tel: +61 3 8862 3500
Company: Hi Tech Industrial Coatings
Expertise: Surface coating services
Address: 7 Marriott Road, Jandakot, WA
Tel: +61 89417 4047
Email: [email protected]

Company: Hoffmann Engineering
Expertise: Engineering
Address: 3 Alice Street, Bassendean, Perth,
WA 6054
Tel: +61 8 9279 5522
Email: Mail.Hofmann@hofmannengineering.

Company: HRL Technology
Expertise: Consulting, analysis and testing
Address: Level 1, Unit 9, 677 Springvale
Road, Mulgrave, VIC 3170
Tel: +61 3 9565 9888
Email: [email protected]

Company: Hyspec Mining Services
Expertise: Replacement hydraulics parts
and service equipment to the mining and


exploration industry across Africa
Address: 13 Da Vinci Way, Forrestdale, WA
Tel: +61 89 49 34 241
Email: [email protected]

Company: Imdex Company: Intertek Genalysis Company: ITC Global Networking
Expertise: Drilling fluids and advanced Expertise: Mineral sample preparation, test- Solutions
downhole survey instrumentation ing and analysis Expertise: Voice and data networking
Address: 8 Pitino Court, Osborne Park, WA, Address: 15 Davison Street, Maddington services
6017 WA 6109 Address: 48 Mordaunt Circuit, Canning Vale
Tel: +61 8 9445 4010 Tel: +61 8 9251 8100 WA 6155
Email: [email protected] Email: [email protected] Tel: +61 8 6263 0444
Web: Web: Email: [email protected]
Company: Immersive Technologies Company: ioGlobal/Reflex Geochemistry
Expertise: Surface and underground mining Expertise: Analysis and interpretation of Company: ITM-Soil
equipment simulators geological results Expertise: geotechnical and structural moni-
Address: Level 11, 3 Hasler Road, Osborne Address: Level 2, 369 Newcastle Street, toring systems
Park, Perth, WA, 6017 Northbridge WA 6003 Address: 209/396 Scarborough Beach
Tel: +61 8 9347 9000 Tel: +61 8 6555 6510 Road, Osborne Park, WA 6017
Email: [email protected] Email: N/A Tel: +61 8 9284 0244
Web: Web: Email: [email protected]
Company: Impact Drill & Blast Company: IsoMetrix
Expertise: Drilling and blasting Expertise: Governance, risk and compliance Company: JG Engineering
Address: 31 Industrial Drive, Sunshine management Expertise: Engineering solutions
West, VIC 3020 Address: 589 Hay Street, Jolimont WA 6014 Address: 18 Technology Drive, Appin NSW
Tel: +61 3 9310 2011 Tel: +61 8 9381 5143 2560
Email: N/A Email: [email protected] Tel: + 61 2 4631 1861
Web: Web: Email: [email protected]
Company: Inception Consulting
Expertise: Consulting engineers
Address: 4 Kamali Avenue, Wattle Park, SA
Tel: +61 8 8121 3075
Email: [email protected]

Company: Infra Tech
Expertise: Ground engineering and geome-
Address: 45 Miguel Road, Bibra Lake, WA
Tel: +61 8 9337 5922
Email: [email protected]

Company: Intech Engineers
Expertise: Engineering
Address: 95 Brunswick Street, QLD 4006
Tel: +61 7 3666 0006
Email: N/A

Company: International SOS
Expertise: Medical and travel security
Address: Level 3, 45 Clarence Street, Syd-
ney NSW 2000
Tel: +61 2 9372 2400
Email: N/A



Company: James Technologies Company: Layne Drilling Company: MACA Ltd
Expertise: Labour, engineering and training Expertise: Water management, construction Expertise: Mining and civil contracting
services and drilling services
Address: 282 Hotham Creek Road, Gold Address: Suite 700, 1800 Hughes Landing Address: 45 Division Street, Welshpool, WA
Coast QLD 4210 Boulevard, The Woodlands, Texas 77380 6106
Tel: 1300 732 881 Tel: + 281 475 2600 Tel: +61 8 6242 2600
Email: [email protected] Email: [email protected] Email: [email protected]
Web: Web: Web:

Company: JKTech Company: League Engineering Services Company: Macmahon Holdings
Expertise: Technology-based consulting Expertise: Telecommunication solutions Expertise: Mining services, engineering and
and laboratory services Address: Po Box 500, Norton Summit SA plant maintenance
Address: 40 Isles Road, Indooroopilly QLD 5136 Address: 15 Hudswell Road, Perth Airport,
4068 Tel: +61 8 8390 0265 WA 6105
Tel: +61 7 3365 5842 Email: N/A Tel: +61 8 9232 1000
Email: [email protected] Web: N/A Email: N/A
Web: Web:
Company: LeTourneau Technologies
Company: JV Engineering Australia Company: Maintenance and Project
Expertise: Steel fabrication and construction Expertise: Design and manufacture of min- Engineering
Address: 100 Dowd Street, Welshpool WA ing machines and products Expertise: Asset maintenance and safety
6106 Address: 54 Borthwick Avenue, Murarrie management
Tel: +61 8 9351 9199 QLD 4172 Address: Suite 1, 157 159 John Street,
Email: [email protected] Tel: +61 7 3902 9000 Singleton NSW 2330
Web: Email: N/A Tel: +61 2 6571 1537
Web: Email: N/A
Company: KBC Advanced Technologies Web:
Expertise: Oil and gas consulting and pro- Company: Lithon Mining Engineers
cess simulation Expertise: Engineering and consulting Company: Major Drilling
Address: 42-50 Hersham Road, Walton on services Expertise: Drilling contractors, suppliers and
Thames, Surrey UK Address: 37 Feld Street, Windhoek Namibia consultants
Tel: +44 0 1932 242424 Tel: +264 61 250278 Address: 112 Ebbern Street, Darra, QLD
Email: N/A Email: N/A 4076
Web: Web: Tel: +61 7 3850 4750
Email: [email protected]
Company: Kew Project Management Company: Lowrie Modular Web:
(KPM) Expertise: Design, manufacture and instal-
Expertise: Engineering, consulting and lation services Company: Management Consultants
specialised equipment supplier Address: Level 27 St Martins Tower, 44 St (Mining)
Address: Level 1, 35 Outram Street, West Georges Terrace, Perth WA 6000 Expertise: Corporate management of re-
Perth WA 6005 Tel: +61 8 6316 4646 sources projects
Tel: +61 8 9322 1232 Email: [email protected] Address: 14 Outram Street, West Perth WA
Email: [email protected] Web: 6005
Web: Tel: +61 8 9385 3232
Company: Lycopodium Email: N/A
Company: KJM Contractors Expertise: Engineering and product man- Web: www.managementconsultants-mining.
Expertise: Engineering, air charter, heavy agement consultants com
haulage and water treatment solutions Address: Level 5/1 Adelaide Terrace, East
Address: 40-54 Kaurna Avenue, Edinburgh Perth WA 6004 Company: Martins Mining and Civil
SA 5111 Tel: +61 8 6210 5222 Expertise: Heavy earthmoving services and
Tel: +61 8 8256 5500 Email: [email protected] equipment suppliers
Email: [email protected] Web: Address: 35 Norseman Road, Esperance
Web: The Australian-headquartered engineering WA 6450
and project management consultancy pro- Tel: +61 8 9072 1940
Company: Knight Piésold vides a range of evaluation, development, im- Email: [email protected]
Consulting plementation and optimisation services for a Web:
Expertise: Engineering and environmental variety of projects across several industries.
services From a minerals perspective, Lycopodium Company: Maxtech Ventures Inc
Address: Level 1/184 Adelaide Terrace, East has delivered projects involving a range of Expertise: Real estate acquisition and
Perth WA 6004 commodities – including gold, base metals, investment
Tel: +61 8 9223 6300 iron ore, uranium, rare earths and industrial Address: 8338-120th Street, Surrey British
Email: N/A minerals – throughout several locations in Columbia
Web: Australia, Africa, Asia and Europe. Other Tel: +604 592 6881
key areas of the company’s portfolio include Email: [email protected]
Company: L2 Drilling process industries, infrastructure, rail, asset Web:
Expertise: Coal exploration drilling services management and metallurgical and com-
Address: 18 Jabiru Drive, Barmaryee QLD minution consulting. Lycopodium has offices Company: McKay Drilling
4703 in Perth, Brisbane, Melbourne, Newcastle,
Tel: +61 7 4930 2182 Toronto, Manila and Accra.
Email: N/A
Web: N/A


Expertise: RC and diamond drilling Address: 174 Hampden Road, Nedlands WA Tel: +61 8 8238 0888
Address: 42 Prestige Parade, 6009 Email: [email protected]
Wangara WA 6065 Tel: +61 8 9423 9000 Web:
Tel: +61 8 9303 4048 Email: [email protected]
Email: [email protected]. Web: Company: Mineral Engineering
au Technical Services (METS)
Web: Company: Midas Engineering Group Expertise: Project management and
Since 1990, McKay Drilling has Expertise: Engineering and consulting training
provided a high-end drilling service services Address: Level 6, 524 Hay Street,
to the exploration and mining in- Address: Level 6, 524 Hay Street Perth WA Perth WA 6000
dustry in most states and territories 6000 Tel: +61 8 9421 9000
throughout Australia and some parts Tel: +61 8 9421 9000 Email: [email protected]
of Brazil. The WA-based company’s Email: [email protected] Web:
fleet consists of 13 Schramm 685 Web:
truck-mounted drill rigs and one Company: MineSight Applications
UDR 1200 diamond rig. All rigs are Company: Mills Wilson Communication Expertise: Mine planning software
near-new or have been stripped and Consultants Address: Level 2, 61 King Street,
rebuilt within the past four years. Expertise: Reputation management, en- Perth WA 6000
McKay Drilling has shifted its focus gagement, marketing and communications Tel: +61 8 9436 0700
in recent years to incorporate shal- Address: 31 Broadway, Nedlands WA 6009 Email: N/A
low drill holes into its scope of work. Tel: +61 8 9421 3600 Web:
Email: [email protected]
Company: MDM Engineering Web: Company: Minesonline
Expertise: Project evaluation, man- Expertise: Linking buyers and
agement, design and construction Company: Minelab sellers for the sale or acquisition of
Address: 2nd Floor, 382 Jan Smuts Expertise: Metal detection technologies resource projects
Avenue, Craighall Johannesburg Address: 118 Hayward Avenue, Torrensville Address: Level 3, 8 Colin Street,
South Africa SA 5031 West Perth WA 6005
Tel: +27 11 993 4300 Tel: +61 8 9486 9557
Email: [email protected] Email: [email protected]
Web: Web:

Company: MEC Mining Company: Mining One
Expertise: Mine planning, onsite Consultants
management, geology and technical Expertise: Mining operations and
services geotechnical services
Address: Level 22, 215 Adelaide Address: Level 9, 50 Market Street,
Street, Brisbane Melbourne VIC 3000
Tel: +61 7 3832 0301 Tel: +61 3 9600 3588
Email: [email protected]. Email: [email protected]
au Web:
Company: Mining People
Company: MECS Africa Expertise: Human resources and
Expertise: Recruitment, contracting and specialist recruitment services
project logistics Address: 1140 Hay Street, West Perth WA
Address: Private Bag X9966, Sandton 6005
Johannesburg South Africa Tel: +61 8 9426 1500
Tel: +27 11 218 8060 Email: N/A
Email: [email protected] Web:
Company: Minopex
Company: Merit Engineers Expertise: Outsourced operation and main-
Expertise: Project management, construc- tenance of processing facilities
tion and contract administration Address: Ground Floor, Building 7, Pine-
Address: Merit House, 43 Kirwan Street, wood Office Park, 33 Riley Road, Wood-
Floreat WA 6014 mead, South Africa 2196
Tel: +61 8 9383 7510 Tel: +27 11 785 7000
Email: N/A Email: [email protected]
Web: Web:

Company: Metso Minerals Company: Mintek
Expertise: Mining equipment, services and Expertise: Mineral processing and extrac-
process knowledge tive metallurgy
Address: Level 2, 1110 Hay Street, West Address: 200 Malibongwe Drive, Strijdom
Perth, WA 6005 Park, Randburg 2125
Tel: +61 8 9420 5555 Tel: +27 11 709 4111
Email: [email protected] Email: N/A
Web: Web:

Company: Micromine Company: Mitchell Group
Expertise: Mining software solutions Expertise: Development and operation of



port infrastructure and the hire of drilling- Company: NHP Electrical Engineering Address: 500 Oracle Parkway, Redwood
related equipment Products Shores, California 94065
Address: 112 Bluestone Circuit, Seventeen Expertise: Motor control, power distribution Tel: +1 650 506 7000
Mile Rocks QLD 4073 and automation systems Email: N/A
Tel: +61 7 3722 7277 Address: 38 Belmont Avenue, Rivervale WA Web:
Email: [email protected] 6103
Web: Tel: 1300 647 647 Company: Orelogy
Email: N/A Expertise: Specialist mine planning consul-
Company: MonuRent Total Equipment Web: tancy and developers of open pit scheduling
Solutions software
Expertise: West Africa-focused heavy Company: NRW Holdings Address: Unit 1, Bluenote Building, 162
equipment solutions and services provider Expertise: Mining contractor and civil con- Colin Street, West Perth WA 6005
Address: 3rd Floor, 4 St James’s Place, struction Tel: +61 8 9318 5333
London UK Address: 181 Great Eastern Highway Bel- Email: [email protected]
Tel: +44 207 629 7348 mont, Western Australia 6104 Web:
Email: [email protected] Tel: +61 8 9232 4200
Web: Email: N/A Company: Orway Mineral Consultants
Web: Expertise: Metallurgical testwork, flowsheet
Company: MSA Group modelling, process engineering, plant optimi-
Expertise: Exploration, geology, resource Company: OBT Shipping sation and commissioning
and reserve estimation, mining and environ- Expertise: Shipping services in Gambia, Address: Level 4, 1 Adelaide Terrace, East
mental consulting services Guinea, Sierra Leone and Liberia Perth, WA 6004
Address: 20B Rothesay Avenue, Craighall Address: Kreuzplatz 2, CH-8032, Switzer- Tel: +61 8 6210 5601
Park, Johannesburg, South Africa 2196 land Email: [email protected]
Tel: +27 11 880 4209 Tel: +41 44 266 10 66 Web:
Email: [email protected] Email: [email protected]
Web: Web: Company: Paragon Consultants
Expertise: M&A, company secretaries, ac-
Company: Multotec Company: Olympus Innov-X counting and taxation services
Expertise: Mineral processing optimisation Expertise: Leading provider of XRF and Address: First Floor, 160 Stirling Highway,
solutions XRD analysers plus a broad range of other Nedlands WA 6009
Address: 11 Ellerslie Road, Meadowbrook, products Tel: +61 8 9389 7779
QLD 4131 Address: Ground Floor, 82 Waterloo Road, Email: [email protected]
Tel: +61 7 3442 0100 North Ryde NSW 2113 Web:
Email: [email protected] Tel: +61 2 9577 9500
Web: Email: N/A Company: Park Engineers
Web: Expertise: Steel fabrication services
Company: Naismith Engineering & Address: 388 Welshpool Road, Welshpool
Manufacturing Company: Omni Technical Solutions WA 6106
Expertise: Supplier of power transmission Expertise: Fleet management and equip- Tel: +61 8 9451 7255
products and components ment services provider Email: [email protected]
Address: 149 Heidelberg Road, Northcote Address: Jumeirah Lakes Towers, Saba Web:
VIC 3070 Tower 1, Office 3401, Dubai, UAE
Tel: +61 3 9489 9811 Tel: +971 4 446 1089 Company: Parsons Brinckerhoff
Email: [email protected] Email: [email protected] Expertise: Planning, engineering and con-
Web: Web: struction management services
Address: Level 27, Ernst & Young Centre,
Company: Nautitech Mining Systems Company: On Site Technology Pty Ltd 680 George St, Sydney, NSW 2000
Expertise: Design and manufacture of elec- Expertise: Environmental consultants and Tel: +61 2 9272 5100
tronic equipment for hazardous areas services Email: N/A
Address: Building 3, 9 Packard Avenue, Address: PO Box 5143, Alberton SA 5014 Web:
Castle Hill NSW 2154 Tel: +61 8 8447 4833
Tel: +61 2 9899 6857 Email: N/A Company: PDC Engineering
Email: N/A Web: N/A Expertise: Engineering design, detailing and
Web: 3D modelling services
Company: Optiro Address: 48 Kishorn Road, Applecross WA
Company: NCS Technology Expertise: Technical and commercial advice 6153
Expertise: Ore tracking and handling soft- for exploration companies and investors Tel: +61 8 9315 6600
ware Address: Level 4, 50 Colin Street, West Email: [email protected]
Address: 3A Agnew Way, Subiaco WA 6008 Perth WA 6005 Web:
Tel: +61 8 9381 8999 Tel: +61 8 9215 0000
Email: [email protected] Email: [email protected] Company: Petroleum Technologies
Web: Web: Australia
Expertise: Fuel system installation and man-
Company: New Resolution Geophysics Company: Oracle Natural Resources agement for mining and service stations
Expertise: Airborne gravity and helicopter Expertise: Software and data management Address: 136 West Kalgoorlie Road,
borne magnetic and radiometric surveying for mining and natural resources companies Kalgoorlie WA 6430
Address: Red Herring Centre, The Loft, 65 Tel: +61 8 9022 7711
Beach Road, Noordhoek, South Africa Email: [email protected]
Tel: +27 21 789 0509 Web:
Email: N/A
Web: Company: Phillips Engineering


Expertise: Steel fabrication, mining and management, contract and administration Perth, WA, 6005
mineral processing, project management and services Tel: +61 8 9226 3606
other engineering services Address: Suite 148, 580 Hay Street, Perth Email: N/A
Address: 5 Egmont Road, Henderson WA WA 6000 Web:
6166 Tel: +61 8 9221 9883
Tel: +61 8 9437 4100 Email: [email protected] Company: RCR Tomlinson
Email: [email protected] Web: Expertise: Engineering and infrastructure
Web: services
Company: Professional Service Solutions Address: Level 6, 251 St Georges Terrace,
Company: Pinnacle Drilling Expertise: Operational risk and travel safety Perth 6000
Expertise: Surface and underground drilling management, project support and recruit- Tel: +61 8 9355 8100
services ment Email: [email protected]
Address: 12 Leewood Drive Orange NSW Address: 17 Manning Street, South Bris- Web:
2800 bane, QLD 4101
Tel: +61 2 6360 2216 Tel: 1300 733 613 Company: Redis Construction Afrika
Email: N/A Email: clientservices@professionalservice- Expertise: Multi-disciplinary in structural
Web: steel, mechanical, electrical, instrumentation
Web: and piping construction
Company: PMT Water Engineering Address: Bedfordview Office Park, Building
Expertise: Manufacturers and facilitators of Company: Proteus Engineers 3, 3 Riley Road, Bedfordview 2007
pre-fabricated tanks, packaged water filtra- Expertise: Leading provider of engineering Tel: +27 (0) 11 450 4141
tion and treatment services to the resources and energy sectors Email: [email protected]
Address: 9/47 Overlord Place, Acacia Ridge Address: 370 Murray Street, Perth WA 6000 Web:
Queensland 4110 Tel: +61 8 6313 3200
Tel: +61 7 3373 2600 Email: [email protected] Company: Reel Tech
Email: N/A Web: Expertise: Specialist in hose and cable
Web: reels
Company: Pybar Address: 1-8/27 Shearson Crescent, Men-
Company: Polyglot Group Expertise: Mining services tone, VIC, Australia 3194
Expertise: Payroll and human resource Address: 1668-1670 Forest Road, Orange, Tel: +61 3 9583 2368
outsourcing, recruitment, language and back New South Wales 2800 Email: [email protected]
office administration Tel: +61 2 6361 4400 Web:
Address: 25 Burton Street, Glebe NSW Email: N/A
2037 Web: Company: Reflex Drilling
Tel: +61 2 9518 4388 Expertise: Drilling services and support.
Email: N/A Company: Quest Exploration Drilling Address: 37 Parkinson Lane, O’Connor
Web: Expertise: Drilling services to the resources, WA 6163 or F449/4 Gbatsunaa St, Nyaniba
construction, oil and gas and water manage- Estates, Osu. Accra Ghana
Company: Polymer Technologies ment industry Tel: +61 8 9331 1829 (Australia) or +23 3
Expertise: Manufacturers and distributors Address: Unit 2208, The Trade and Finan- 0242 162070 (Ghana)
of polymer products that service the mining, cial Tower, 7th Avenue and 32nd Street, Email: [email protected]
quarrying and engineering industries Bonifacio Global City, Taguig City, Philip- Web:
Address: Unit 2, 8 Langar Way, Landsdale pines 1634 
WA 6065 Tel: +63 2 995 2401 Company: Rema Tip Top
Tel: +61 8 9303 9969 Email: N/A Expertise: Products, services and engineer-
Email: [email protected] Web: ing
Web: Address: B��u�i�ld��in�g��3��, �2�0��W��o�r�t�h��S�t�r�e�e�t�,�C��h�u�l�-
Company: R & R Engineering lora NSW 2190, Australia 
Company: Portable Analytical Solutions Expertise: Power and control systems Tel: +61 2 8755 8444
Expertise: Distribution of scientific, portable Address:  Maryland Industrial Estate, 286 Email: [email protected]
and analytical equipment Ballygowan Road, Moneyreagh, Belfast Web:
Address: Ground Floor, Fortunity Building, BT23 6BL
155 The Entrance Road, Erina NSW 2250 Tel: +44 0 28 9044 9000 Company: Remote Control Technologies
Tel: +61 2 4381 2844 Email: [email protected] Expertise: Manufacture and installation of
Email: [email protected] or info@ Web: safety and productivity products for the min- ing, mobile equipment, earthmoving, trans-
Web: Company: Rapallo Consulting & port, agricultural, construction and materials
Contracting Engineers handling industries
Company: Powertech Services Expertise: Engineering plus project and Address: Unit 2-5/511 Abernethy
Expertise: Technical specialists across all construction management, asset manage- Road, Kewdale WA 6105
engineering disciplines, including commis- ment, resource management and environ- Tel: +61 8 9353 6577
sioning, testing, start-up, maintenance and mental consultation Email: [email protected]
operations Address:  130 Hay Street, Subiaco WA 6008 Web:
Address: 7/507 Murray Street, Perth WA Tel: +61 8 9460 4300 
6000 Email: [email protected] Company: Ritchie Bros Auctioneers
Tel: +61 8 9244 4477 Web: Expertise: Auctioneer of heavy equipment
Email: [email protected] and trucks. The company offers used and
Web: Company: Ravensgate Mining Industry unused heavy equipment for sale
services Consultants Address: International Head Office, 9500
Expertise: Consultants serving mining and Glenlyon Parkway, Burnaby, BC, Canada,
Company: Professional Cost Consultants exploration companies V5J 0C6
Expertise: Surveying, estimating and cost Address: Level 1, 1185 Hay Street, West Tel: +1 778 331 5500



Email: [email protected] Email: N/A and project delivery to the resources sector 
Web: Web: Address: 100 Christie Street, PO Box 164,
St Leonards, Sydney NSW 2065
Company: Rock Australia Company: Scope Systems Tel: +61 2 9928 2100
Expertise: Specialist contracting services Expertise: Software, specifically enterprise Email: N/A
and products for mining and civil projects resource planning (ERP), business intel- Web:
Address: 3 Craig Street, Burswood WA 6100 ligence (BI), budgeting and forecasting
Tel: +61 8 9472 2100 software and business process management Company: SNL Metals & Mining
Email: [email protected] consulting solutions Expertise: Mining information and analysis
Web: Address: Level 3, 1 Manning Street, Scar- Address: One SNL Plaza, 212 7th Street
borough, Perth WA 6019 NE, Charlottesville, VA 22902
Company: RUC Cementation Mining Tel: +61 8 9245 9900 Tel: +434 977 1600
Services Email: [email protected] Email: [email protected]
Expertise: Underground mining services Web: Web:
Address: 1 Yulpari Road, West Kalgoorlie,
WA 6430 Company: Scott Drilling International Company: Snowden Group
Tel: +61 8 9021 3333 Expertise: Water well drilling and services Expertise: Provider of geologists, mining
Email: [email protected] Address: 11923 Green Pines Circle, Hou- engineers, geotechnical engineers, and
Web: ston, TX 77066, software
Tel: 281-893-1492  Address: 87 Colin Street, West Perth, WA
Company: RungePincockMinarco Email: N/A 6005 
Expertise: Mining technical experts offering Web: Tel: +61 8 9213 9213 
services including mining advisory in geol- Email: N/A
ogy, resources, mine design and planning, Company: Sedgman/MDM Web:
optimisation, corporate finance, feasibility Expertise: M��i�n�e�r�a�l�p�r�o�c�e��s�s�in��g�a��n�d��a�s�s�o�c�i�-
studies, due diligence; software and con- ated infrastructure solutions to the global Company: Southern Cross Electrical
sulting; and professional development and resources industry. Engineering
training Address: Level 2, 2 Gardner Close, Milton, Expertise: Electrical and instrumentation
Address: Level 12, 333 Ann Street, Brisbane QLD 4064 Australia services 
QLD 4000, Australia Tel: +61 7 3514 1000 Address: 41 Macedonia Street, Naval Base,
Tel: +61 7 3100 7200 Email: [email protected] WA 6165
Email: N/A Web: Tel: +61 8 9236 8300
Web: Email: [email protected]
Company: Seovic Engineering Web:
Company: Samaras Group Expertise: Overhaul and repair of mining
Expertise: Steel Fabrication.   equipment and operating general engineer- Company: Southern Geoscience
Address: 96-106 Grand Trunkway, Gillman ing and machining facilities. Consultants
SA 5013 Address: 2a Graham Hill Road, Narellan Expertise: Geophysics
Tel:  (08) 8447 7088 NSW 2567 Address: Level 1, 183 Great Eastern High-
Email: N/A Tel: +61 2 4647 2200 way, Belmont WA 6104
Web: Email: [email protected] Tel: +61 8 6254 5000
Web: Email: [email protected]
Company: Sandvik Web:
Expertise: Drilling and mining equipment Company: Set Point Group
Address: Australia: 60-62 Qantas Drive, Expertise: Services and support to mining, Company: Southern Mapping
Brisbane Airport, Queensland 4007 refining and manufacturing industries Expertise: Aerial surveys
Tel: 1300 1726 3845 Address: 30 Electron Avenue, Isando, 1601, Address: 39 Kingfisher Drive, Fourways,
Email: [email protected] Johannesburg, Gauteng, South Africa Johannesburg, South Africa
Web: Tel: +27 11 923-7000 Tel: +27 0 11 467 2609
Email: N/A Email: [email protected]
Company: ScanTech International Web: Web:
Expertise: Specialists in using technologies
to monitor and control bulk material applica- Company: SGS Australia Company: Spatial Dimensions
tions Expertise: Various services to the mining Expertise: Implementation and support
Address: 143 Mooringe Avenue, Camden and resources sector services FlexiCadastre, the enterprise scale
Park, SA 5038 Address: 10 Reid Road, Perth International land management solution
Tel: +61 8 8350 0200 Airport, Newburn, WA 6105 Address: 301-221 West Esplanade, North
Email: [email protected] Tel: 1300 765 725 Vancouver, BC, V7M 3J3, Canada
Web: Email: N/A Tel: +1 604 770 3539 
Web: Email: N/A
Company: Schlumberger Web:
Expertise: Supplier of technology, integrated Company: Sharproc
project management and information solu- Expertise: Asset management services to Company: Spirac Engineerings
tions in the oil and gas industry worldwide mining and mining related industries Expertise: Spare parts, preventative mainte-
Address: 256 St Georges Terrace, Perth, Address: Level 28, AMP Tower 140 St nance upgrades, troubleshooting, trouble-
WA 6000  Georges Terrace Perth WA 6000 , Australia shooting, system optimisation and audits and
Tel: +61 8 9420 4800 Tel: +61 8 9288 4470 maintenance agreements
Email: N/A Address: 30 Cocos Drive Bibra Lake, WA
Web: 6163

Company: SKM
Expertise: Strategic consulting, engineering


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