Latest Commodity News

In a presentation at the 2024 Diggers & Dealers Mining Forum, IGO Managing Director and CEO Ivan Vella discussed the challenges and opportunities facing the lithium industry.

He emphasized the critical role of electric vehicles in the energy transition and highlighted the growing demand for lithium in EV batteries, describing it as “too big to fail.” However, Vella also identified two key challenges: range anxiety and competition in the battery value chain, particularly from China.

He emphasized the importance of optimizing costs and strategic positioning in the face of these challenges.

Despite a global lithium and nickel downturn, IGO is well-positioned with its stake in the world-class Greenbushes lithium asset and is undertaking various measures to ensure future success, including enhancing safety, driving efficiencies, and optimizing operations.

Tungsten Mining (ASX:TGN) has reached an agreement to acquire the remaining 80% stake in the Hatches Creek Tungsten Project from GWR Group (ASX:GWR) for 107.5 million Tungsten Mining shares, giving GWR a 19.86% voting power in Tungsten Mining.

This development marks the termination of the previous farm-in agreement between the two companies.

Tungsten Mining, with a market capitalization of $37.74 million, anticipates the completion of the acquisition within three days after fulfilling certain conditions.

Whitehaven Coal's commitment to local employment has yielded positive outcomes as the first of ten trainees at its Narrabri coal operations coal handling and processing plant have secured full-time positions.

Sam Cameron, a former baker, completed the program ahead of schedule and expressed his gratitude for the opportunity to continue living and working in the Narrabri region.

The program was launched in 2022 to address labor market challenges and develop a skilled local workforce, with 75% of the NSW workforce residing near its operations.

The two-year project has proven successful in nurturing local talent and providing a pathway for locals to join the skilled workforce, benefiting both Whitehaven and the local Narrabri community.

In this exclusive interview, Ivan Fairhall, Managing Director of Pivotal Metals (ASX:PVT), unveils a momentous discovery at the Horden Lake project - a new mineralised zone.

Through an aerial magnetic survey, Pivotal Metals has identified the promising West Horden corridor.

Fairhall elaborates on the implications of this finding and shares the company's upcoming exploration plans, including targeted geophysical surveys and strategic drilling.

This pivotal development sets the stage for Horden Lake's bright future.

Thiess, a leading mining services giant, has taken significant steps to expand its offerings by acquiring stakes in two Australian companies, LAAMP and Mechatronix.

These strategic investments aim to enhance the company's transition from traditional mining operations into a global services provider, pioneering sustainable mining and infrastructure services.

LAAMP's digital platform streamlines training and assessments for remote workforces, while Mechatronix's carbon fiber structural reinforcements extend the life of trucks and increase payload capacity.

These acquisitions align with Thiess' commitment to sustainability and innovation, providing broader benefits for clients and employees alike.

Revolver Resources (ASX:RRR) has discovered several highly significant structural-stratigraphic targets at its Osprey Copper Project in Queensland.

The company has carried out a thorough geological and structural analysis of the Osprey area, identifying 14 top-priority zones with potential for large-scale Mt Isa-style epigenetic copper mineralisation.

Utilizing AI targeting methods and ground-based geophysical surveys planned for later this year, Revolver aims to refine target areas for direct drilling.

This systematic exploration strategy brings Osprey closer to a substantial Mt Isa-style copper discovery.

The Australian Securities Exchange (ASX) commenced trading in the green but swiftly shifted direction, with the S&P/ASX200 experiencing a decline of 5.8 points to 7,643.80 by 10:22 AEST.

This downturn marks the lowest point in 20 days and the worst two-day decline since the disruptions caused by COVID-19 in 2020, as reported by Peak Asset Management.

The volatility index, commonly referred to as the 'fear' index, has reached levels reminiscent of the COVID era and the global financial crisis, according to Peak.

The Reserve Bank of Australia's decision on interest rates is anticipated today, but concerns persist regarding a potential recession in the United States, casting a shadow over Australian stocks and likely leading to further losses.

Beacon Minerals (ASX:BCN) has announced a maiden ore reserve for the Mt Dimer Project in Western Australia, containing a total of 148,000 tonnes at 4.5 grams per tonne gold for 21,100 ounces.

The company plans to extract the gold using conventional open pit mining methods and process it at the Jaurdi CIP processing plant.

Managing Director Graham McGarry expressed optimism about the profitability of the high-grade resources and their contribution to the growth of Jaurdi Gold Project's mine life.

The company is also planning exploration activities to identify potential mineralisation and has uncovered a new target area north of the L01-L03 underground.

Environmental permitting is underway for the Mt Dimer Project, which is situated in the Yilgarn Shire of Western Australia.

Pivotal Metals discovers a new mineralized structure called Horden West, located 400m west of its Horden Lake Project in Québec, Canada.

An airborne survey revealed a parallel magnetic anomaly, which led to the first drill hole into the new trend.

This hole intersected four mineralized zones with significant copper equivalent intercepts.

Geophysics and follow-up drilling are planned to explore the potential of the new discovery.

Additionally, drilling and geophysical surveys suggest a potential 600m strike extension to the southwest of Horden Lake, with promising historical drill intercepts nearby.

Pivotal aims to prioritize targets as they expand their open-pit resources and conduct metallurgical testwork, with a resource update expected in Q4 2024.

Liontown Resources' Kathleen Valley lithium project in WA has accomplished several key milestones, including the commencement of underground ore mining and the delivery of spodumene concentrate to port.

This accomplishment marks the transition of the project from construction to production.

Liontown shipped approximately 145 tonnes of spodumene concentrate, destined for storage at Geraldton Port before its maiden shipment later in the quarter.

The first underground ore extracted came from the Mount Mann pit, representing significant infrastructure progress.

Liontown anticipates the first production of ore from the stoping cycle towards the end of 2024.

By establishing itself as an emerging global supplier of battery minerals, Liontown aims to contribute to the shift toward a low-carbon future.