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Six foreign-controlled miners to start divestments in 'near future' - Indonesia
Published: 13 Mar 19
Six foreign-controlled miners operating in Indonesia, including PT Vale Indonesia and a unit of Australia's Newcrest Mining, intend to divest some of their shares "in the near future" to meet regulations, an Indonesian official said. According to Indonesian mining rules, foreign-controlled miners are required to gradually start reducing ownership after five years of production. Within 10 years, foreign ownership should be cut to at least 49%.
Ausgold and Great Boulder form JV
Published: 13 Mar 19
Juniors Great Boulder Resources and Ausgold have inked a joint venture (JV) agreement over the Winchester nickel/copper project, in Western Australia. Under the terms of the agreement, Great Boulder could earn up to a 75% interest in the project by spending A$500 000 over a four year period.
WA joins anti-flaring initiative
Published: 13 Mar 19
Western Australia has become the first Australian signatory to the World Bank’s Zero Routine Flaring by 2030 initiative. Western Australian Minister for Mines and Petroleum, Bill Johnston on Wednesday told delegates at the AOG conference that the commitment would be reinforced by strengthening regulation as part of the implementation of the recommendations from the independent scientific inquiry into hydraulic fracture stimulation.
New EPA emission rules could scupper three Woodside projects New EPA emission rules could scupper three Woodside projects
Published: 13 Mar 19
Australian oil and gas major Woodside has called for government intervention in the new greenhouse guidelines put forth by the Western Australian Environmental Protection Authority (EPA), warning that the guidelines could jeopardise a 2020 investment decision on the Browse, Scarborough and Pluto Train 2 projects. Speaking at the AOG conference in Perth, Woodside COO Meg O’Neill said that it was “disappointing and concerning” that the EPA had issued the guidelines without industry consultation.
Doray/Silver Lake deal gets major backer
Published: 13 Mar 19
The merger between gold miners Doray Minerals and Silver Lake Resources has won the backing of Doray’s largest shareholder Perennial Value Management, which holds a 12.94% interest in the company. “It is pleasing to have received this commitment from Perennial, which represents a significant vote of confidence in the merits of the proposed merger with Doray shareholders,” said Doray MD Leigh Junk.
Financial loss of train coaches totals more than R600m since April 2018
Published: 13 Mar 19
The total financial loss of train coaches from April 2018 due to aging stock, vandalism, theft and derailment amounted to more than R630-million, Transport Minister Blade Nzimande said. In a written reply to a question from DA MP Manny de Freitas, Nzimande shared how many train coaches of Metrorail and Shosholoza Meyl were lost and the value of the losses since April 1.
Northern Dynasty raises $10m, still looking for Pebble partner Northern Dynasty raises $10m, still looking for Pebble partner
Published: 13 Mar 19
Vancouver-based Northern Dynasty has raised $10-million to further advance the Pebble project, in the US state of Alaska, the company announced on Tuesday. Northern Dynasty has entered into an agreement with lead underwriter and bookrunner Cantor Fitzgerald Canada, on behalf of a syndicate of underwriters, to purchase, on a bought deal basis, 15.625-million shares at $0.64 a share.
'No tomorrow' for many unless consumption falls – UN
Published: 13 Mar 19
Global exploitation of natural resources – from water, sand and timber to oil, coal and gemstones – has more than tripled in 50 years, the United Nations (UN) said on Tuesday, warning of devastating environmental impacts unless demand is reduced. Surging consumption of natural resources – 92-billion tonnes in 2017 – accounts for half of the world's planet-heating greenhouse-gas emissions and over 90% of the world's biodiversity loss, the Global Resources Outlook 2019 found.
FAA faces stunning rebuff as world races ahead to ground 737 Max FAA faces stunning rebuff as world races ahead to ground 737 Max
Published: 13 Mar 19
Since shortly after the dawn of the jet age, the world has followed the US’s lead on aviation safety. Now, in a remarkable rebuke, nations from the UK to Australia have rejected public reassurances from the Federal Aviation Administration and grounded Boeing’s 737 Max jet. They’ve not only told their carriers not to fly the jets, they have in some cases prohibited the plane from flying through their airspace.
Argentine union's strike halts operations at Goldcorp's largest mine
Published: 12 Mar 19
A strike at Canadian Goldcorp's Cerro Negro mine in Argentina has forced a halt to operations, the company said on Tuesday, calling the union's action at its biggest mine illegal. Mining activities stopped when the strike by the Asociacion Obrera Minera Argentina (AOMA) union began on March 8, and processing is also now halted as surface stockpiles have run out, Vancouver-headquartered Goldcorp said in a statement.
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