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![Canada and Australia: Driving global mining excellence](https://investingnews.com/media-library/image.png?id=34333310&width=1200&height=800)
Canada and Australia: Driving global mining excellence
Australia and Canada have a lot in common when it comes to mining and resources and are critical to the industry’s global transformation.
While both countries are mining super-powers in their own right and are supplying a significant percentage of the resources needed for the global energy transition, they are also using their leadership to guide the global industry’s transition to a sustainable future.
Australia and Canada are recognised as the two largest exploration destinations in dollar value terms, with stock exchanges that reflect the enormous contribution mining and resources makes to each economy.
Similarly, both countries offer substantial and relatively untapped resources, conducive investment environments, supportive governments and well-established plans for the development of the critical minerals needed for the global energy transition.
Because both have a long history of operating in complex environmental and social contexts, they also have extensive experience in sustainable practices and meaningful engagement with First Nations peoples and local communities.
Leading the transformation
This strong shared focus on ESG principles and commitment to contemporary mining practices have seen Canada and Australia emerge in the past decade as key leaders in the global industry’s response to the challenges facing mining globally.
CEO of the Canada Mining Innovation Council (CMIC) Carl Weatherell says the leadership of the mature mining countries such as Canada and Australia are critical to achieving the mining industry’s global environmental goals.
“In order to reduce the mining industry’s energy use, water use and environmental footprint by 50 per cent by 2027, the major players have not only an opportunity but a responsibility to work together on innovations that reduce waste, lower costs and mitigate environmental impacts across all aspects of exploration and development,” he says.
“Canada and Australia are global leaders in the mining industry with decades of experience and innovation behind them, so they have a natural role in leading mining’s transformation to a more responsive, sustainable and resilient industry.
“It’s incumbent on the two countries and their companies to work together to redefine and rethink the future of the industry in terms of in terms of how we collaborate, who we collaborate with and what we work together on.
Coopertition
Mr Weatherell says while the global mining industry is of course competitive by nature, it also has a shared destiny, and by necessity has pursued active collaboration on shared challenges, particularly around decarbonisation.
“We call this ‘coopertition’ and it is one of the reasons events like IMARC are so important when it comes to pursuing these shared goals.”
He believes Canadian and Australian mining operators and innovators have long understood the need for a cooperative effort toward a more efficient, sustainable industry, recognising that these goals can only be achieved if all stakeholders sign up to a clear vision for the future and work towards it together.
“The mining and resources industries in Canada and Australia are leading the way when it comes to embracing the decarbonisation challenge and lending their expertise and experience to countries where they invest.
“As we like to say, net zero is easy; zero is hard. But through exporting their leadership and best practice globally, Australia and Canada are playing a key role in meeting the challenge.”
The same, but different
From an investor perspective, Canada and Australia are considered low-risk jurisdictions, with policies and regulatory settings that welcome, encourage and incentivise exploration and development, particularly of the resources needed to fuel the global energy transition.
As members of the former British Commonwealth, both countries share a similar legal heritage, providing a level of comfort when it comes to assessing risk and a pragmatic approach to managing the energy transition.
Principal and Founder of BRIDGE©, Siri C. Genik, says while both are young countries who offer investors stable jurisdictions, strong legal frameworks, and respect for the rule of law, there are also differences which can impact on the risk appetite for investors.
“We certainly see a consistent approach to issues such as health and safety, environmental and stakeholder management, EDI, governance and more broadly sustainability. Both countries demonstrate best practices in respect of human rights and a commitment to managing the industry’s carbon footprint.
“There are common core values and opportunities for greater investment, but there are differences between both countries, including permitting processes and timelines, and different risk appetites and investment approaches,” Ms Genik says.
She says Australian companies - from mine operators to exploration and METS companies – are looking to Canada as a key source of the critical minerals needed for a renewable future such as copper, nickel, lithium, and graphite.
One such company is the Andrew Forrest-backed Wyloo Metals, which is expanding its operations in Canada with a focus on nickel and copper.
Wyloo Metals CEO Luca Giacovazzi says the company’s investments, particularly in the establishment of a world-class Future Metals Hub in Ontario, underscore his belief in Canada’s long-term potential to be a globally relevant producer of reliable and responsibly sourced battery metals.
“Canada has a once-in-a-generation opportunity to establish itself as a major player in the new economy. Our proposed Future Metals Hub provides the cornerstone for a globally relevant battery material supply chain in Canada, while creating economic opportunities for local communities to thrive.”
But according to Ms Genik, while investment in Canada is at healthy levels, fewer Canadian companies have been investing in projects in Australia. She said this may be a reflection of a global mining and resources industry in transition, with older investment paradigms being challenged and new alliances being formed, particularly around resource supply resilience.
Despite this, she said this shift in globalisation also represents opportunities for Canadian and Australian companies.
“There are new relationships and alliances being formed as nations are increasingly wanting to stand on their own and – to the extent they can – be more self-reliant and work with partners with shared values.
“It’s not just the Russia-Ukraine situation that is driving this, but you're also seeing similar trends across Asia and South America, creating new opportunities for investment for countries like Canada and Australia.
“As the EU is striving to ensure increased sustainable value chains for all products being included in the goods they manufacture, it has been an important game changer. They have adopted a number of very stringent sustainability requirements and regulations that all players in the industry will need to meet if they want their products to be included in products manufactured or assembled in the EU.
“Other nations are striving to also meet these requirements, and again, Australian and Canadian companies can talk to.
“The appetite is still there, the investors continue to seek a return on their investment, but not at any cost, and not always seeking instant gratification. Markets are much more fickle today and more complex, with geopolitics creating challenging dynamics for investors. We are seeing investor expectations go beyond the value of the asset and focussing on a wholistic approach to the company. Investors want to make sure that they're understanding and including these non-technical risks and that they understand what impact and purpose is.
“The opportunity for Canada and Australia is to continue to position themselves as sustainable leaders to be successful in this era of shifting and transition.”
Canada comes to IMARC 2023 in Sydney
Canada will continue its long association with the International Mining and Resources Conference (IMARC) being held in Sydney, Australia this year with a delegation promoting the country’s vision to be the leading mining nation in the 21st century.
The delegation promises to be the largest ever and includes Canadian companies showcasing their products and services to the global mining and resources market, particularly in the Asia Pacific region, and a team from Global Affairs Canada promoting investment opportunities for companies to establish or expand their operations in Canada.
Senior Investment Officer at Global Affairs Canada, Bertrand Raoult, said Canada provides a highly competitive value proposition for investors.
“Canada is a global mining leader, producing over 60 minerals and metals and home to advanced exploration projects for lithium, rare earths, and other critical minerals the world needs for a cleaner future. We have strong mineral exploration, mining and mineral processing sectors and these are attracting downstream manufacturing, as we are moving toward vertically integrated supply chains,” he said.
Mr Raoult said Canada is one of the most mining-friendly jurisdictions in the world and supports the sector through generous programs and incentives, competitive tax policies, a rich innovation ecosystem and Free-Trade agreements that give investors access to more than 50 markets.
“But it is perhaps our environmental, social and governance expertise that truly sets Canada apart from competitors. Thanks to generous programs, our minerals and metals sector industry is adopting clean and cutting-edge technologies to make mining and processing greener, safer, smarter, and more efficient.
“As a result, Canada has one of the lowest ESG risks across global mining projects on average performing particularly well in categories such as water usage, community engagement, conservation and governance.”
The Canadian Critical Minerals Strategy highlights the importance of mining and resources to the nation’s global competitiveness and prosperity. The industry accounts for 626,000 direct and indirect jobs and is the largest employer for Indigenous Peoples and 19 percent of Canada’s total domestic exports, and approximately $47 billion in mineral production come from mines and quarries across all regions.
Mr Raoult said: “Canada’s vision is to responsibly develop its geological resources, including critical minerals, advance the participation of indigenous peoples, ensure sustainable mining and rehabilitation practices, drive world-leading innovation, build community support for sustainable mineral development and attract underrepresented groups to this high-tech sector that is key to a green economy.”
The International Mining and Resources Conference (IMARC) is returning to the ICC Sydney from 31 October – 2 November 2023. As one of the world’s largest and most influential mining events, IMARC creates a global conversation that attracts some of the most influential leaders in the mining, investment, and METS for three days of learning, deal-making and unparalleled networking.
IMARC Chief Operating Officer Anita Richards said IMARC 2023 is the ideal opportunity for countries like Canada to attract investment, showcase their expertise and engage with mining and METS companies, investors and suppliers to collaborate and develop business opportunities.
She said it was particularly encouraging to see large delegations from the resource-rich Canadian provinces of Ontario and Quebec, which demonstrated the importance that not only national but state and local governments are placing on IMARC as a key forum for investment attraction.
“In fact, we are seeing a similar trend with Australian state governments, who will also be at IMARC 2023 in unprecedented numbers, focusing on the unique opportunities that each offer.
“For its part, Canada has a great story to tell about as a stable and attractive destination for global investment in the resources the world needs for a cleaner future, and the expertise and leadership it can offer to a transitioning global industry,” Ms Richards said.
“IMARC is designed to provide a forum to explore these opportunities and to showcase the best and latest knowledge, innovation, and growth that benefit the whole value chain.
“Standing alongside Australia as one of the world's largest mining nations with significant role in the future of resources, Canada has always been a strong partner of IMARC throughout our 10-year history and we are delighted to welcome them back once again.”
Maiden Mukinbudin Quartz Processing Testwork Achieves Premium HPQ Product
Industrial Minerals Ltd (ASX: IND or the Company) is pleased to announce that it has received results from High Purity Ǫuartz Processing Testwork1 completed by North Carolina State University’s Mineral Research Laboratory (“NCSU-MRL”).
Highlights
- Exceptional Processing Testwork results received from North Carolina State University’s Mineral Research Laboratory (NCSU-MRL), an industry leading independent High Purity Ǫuartz lab.
- Ǫuartz sample T1-C, a maiden sample from the Mukinbudin Project, achieved >99.991% SiO2 from a simple processing flow sheet that included attrition, flotation and magnetic separation treatment, opening opportunities for early stage offtake.
- All samples sent to NCSU-MRL, from both Pippingarra and Mukinbudin demonstrated outstanding purity levels, confirming the exciting potential of IND’s quartz deposits and their suitability for high-end applications.
- In parallel with the numerous ongoing offtake discussions and ongoing end customer testing, IND now plans to undertake further comprehensive independent testwork at leading industrial minerals consultancy ANZAPLAN in Germany to further assist in finalising product offtake.
IND is exploring for High Purity Ǫuartz (“HPǪ”) at several of its projects in Western Australia, and the testwork was completed on samples from IND’s Pippingarra Ǫuarry Project and Mukinbudin Ǫuartz/Feldspar Project.
Jeff Sweet, Managing Director of Industrial Minerals, commented:
“We are extremely encouraged by achieving +99.99% SiO2 purity through to the acid leaching stage of our process testwork. These results are incredibly promising for our HPǪ production. With calcination and hot chlorination stages yet to be tested, we anticipate even greater purity levels can be achieved. This progress underscores our confidence in achieving premium quality in our final product.
“The Mukinbudin quartz was purified to 99.991% SiO2 through magnetic separation and flotation process work alone. This simple flowsheet will allow IND to pursue early-stage offtake opportunities into a broader range of HPǪ applications.
“Given the large price differential at the premium end of the HPǪ market as illustrated in Figure 1, IND’s ultimate goal is to now test the maximum purity level achievable across the Company’s quartz projects with the aim to be a recognised long term supplier of quality HPǪ products.”
Figure 1: High Purity Ǫuartz raw ore pricing CIF China based on industry feedback2
Processing Testwork Results
North Carolina State University’s Minerals Research Laboratory is a world leader in research, development and implementation of mineral processing techniques. The main focus of NCSU- MRL’s research is the beneficiation of industrial minerals.
Ǫuartz Ore Samples
IND sent three 20kg quartz ore samples to NCSU-MRL for the purpose of assessing the potential to use as feedstock for the production of High Purity Ǫuartz. Test samples T1_A and T1-B were sourced from IND’s Pippingarra Ǫuarry Project (Figure 2) and test sample T1_C was sourced from the Mukinbudin Project (Figure 3).
Click here for the full ASX Release
This article includes content from Industrial Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Appendix 5B Cash Flow Report
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to release its Quarterly Cash Flow Report for the period ended June 30, 2024.
Click here for the full ASX Release
This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Activities Report 30 June 2024
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to report on its activities during the 30 June 2024 Quarter.
Highlights
Jeffreys Find Gold Mine
- First Gold Processing Campaign Completed: Commenced in mid-April 2024, processing approximately 30,300 tonnes of ore and producing six doré bars weighing 64.68 kg, generating $4.46 million in revenue for the Joint Venture with milling at Greenfields Mill in Coolgardie.
- Stage 2 Mining: Stage 2 aims to extract a minimum of 300,000 tonnes of ore in 2024/2025, with round-the-clock operations using larger equipment to double the 2023 output.
- Grade Control Completed: Grade control drilling on an initial 10m x 10m pattern was completed and mine planning progressed substantially, with detailed mine planning underway.
Spargoville Gold Project
- Drill Results: On 4 June 2024, results from a six-hole RC drilling program have outlined a large and prospective basement gold target beneath shallow mineralisation in weathered rock.
- The company reported a strong financial position with $3.4 million in cash at the end of the quarter.
- Completion of the 31 March 2024 option issue and finalise issue of all shares.
- Current issued share capital is now 148,553,371 shares.
Managing Director, Mark English said: “We have advanced the mining at Jeffreys Find Gold Mine. BML have been excellent partners and miners. From Auric’s perspective everything at Jeffreys Find is going according to plan. The substantial increase in the gold price is truly “icing on the cake”.
“We completed a lot of work at Munda on the technical matters to advance this project. In addition, we completed a Heritage Survey with the Marlinyu Ghoorlie traditional owners to clear the development area for the haul road. Another specific piece of work that had to be completed.
“We undertook a RC drilling program at our Fugitive Prospect at Spargoville. The geologists see potential similarities to the Wattle Dam deposit 8km to south and have planned further drilling to test the concept.
“We held our Annual General Meeting on the 24 May 2024. This was well attended with over 20 people at the meeting. All resolutions put to the meeting were passed,” said Mr English.
Click here for the full ASX Release
This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Quarterly Report - Quarter Ending in 30 June 2024
Miramar Resources Limited (ASX:M2R, Miramar or “the Company”) is pleased to provide a summary of activities completed during the Quarter ending 30 June 2024.
〉Gidji JV
- IP Survey highlights potential extension(s) to 8 Mile Dam gold deposit
〉Randalls
- New tenement applications along Randall Fault
〉Bangemall Ni-Cu-Co-PGE Projects
- Exploration Incentive Scheme (EIS) funding approval and preparations for maiden drilling campaign at Mt Vernon and Trouble Bore
〉Whaleshark
- Passive seismic survey maps basement depth across Project
- Large magnetite Exploration Target outlined
〉Corporate/Financial
- Placement raises $446,000 and Entitlement Offer Announced
- 2023 EIS funding and Research and Development tax refund received
During the Quarter, the Company completed exploration activities across various projects in the Eastern Goldfields and Gascoyne regions of Western Australia and continued preparing for the maiden drill campaign within its Bangemall Projects.
An IP Survey within the Gidji JV Project increased the likelihood of a northern extension to the 313koz 8 Mile Dam gold deposit, offset by faulting.
The Company completed a passive seismic survey to map basement depth and outlined a very large magnetite Exploration Target at Whaleshark.
Miramar’s Executive Chairman, Mr Allan Kelly, said the Company was looking forward to completing the first drill campaign at Mount Vernon and Trouble Bore, targeting Norilsk-style Ni-Cu-Co-PGE mineralisation.
“We are exploring for mineralisation similar to the giant Norilsk-Talnakh deposits in Siberia, the largest and most valuable nickel deposits in the world,” he said.
“In addition, we have a number of highly prospective but underexplored gold projects in the world-class Eastern Goldfields Province, any of which could host a significant gold deposit,” he added.
Click here for the full ASX Release
This article includes content from Miramar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Jeffreys Find Gold Mine Toll Milling of 150,000 Tonnes Commenced, Second 2024 Campaign
Auric Mining Limited (ASX: AWJ) (Auric or the Company) is pleased to announce the second gold milling campaign for 2024 of 150,000 dry metric tonnes from the Jeffreys Find Gold Mine (the Project) near Norseman, WA, commenced on 24 July 2024.
- Processing of 150,000 tonnes commenced at Greenfields Mill.
- 75,600 tonnes on ROM Pad at Greenfields as of 23 July 2024.
- Second campaign expected to finish early September 2024.
- On target to process 300,000 tonnes at Greenfields Mill in 2024/2025.
- BML expects to mine well in excess of 300,000 tonnes in 2024/2025.
- First cash distributions to Auric this quarter.
MANAGEMENT COMMENT
Managing Director, Mark English, said: “We have the good fortune of pouring gold just as the price firms. It happened last year when the price went to $3,000 an ounce, this year it’s around $3,600 an ounce.
“The ever increasing gold price will result in Auric and our joint venture partner generating cash surpluses well in excess of what we had budgeted and anticipated.
“150,000 tonnes is a sizeable parcel of ore for this campaign. While it will take six weeks or so to mill, we expect it to generate well in excess of $25 million through gold sales for the joint venture.
“The mill contract is to process 300,000 tonnes in 2024. This 150,000 tonnes parcel will be the largest for Stage 2 of mining of Jeffreys Find. That leaves an additional 120,000 tonnes for milling at Greenfields towards the end of 2024.
“Jeffreys Find will be a substantial cash producer for Auric in 2024. We are on target to receive our first distribution within about a month.” said Mr English.
The Jeffreys Find Pit as of 16 July 2024
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This article includes content from Auric Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Viani - Low Sulphidation Epithermal Gold Project License Renewed
Advanced gold and copper explorer, Alice Queen Limited (ASX:AQX) (Alice Queen or the Company), is pleased to advise that it has received notification from the Mineral Resources Department (MRD) of Fiji that its highly prospective low sulphidation epithermal (LSE) gold project, Viani (SPL1513) located on the Pacific Rim of Fire, on Fiji’s second biggest island Vanua Levu, has been renewed for a further three years, commencing on 3 July 2024.
Highlights
- MRD notified Alice Queen on Friday 19 July 2024 via email that its Viani license (SPL1513) has been renewed for a further three years with effect from Wednesday 3 July 2024.
- Viani, located on the Pacific Rim of Fire on Vanua Levu in Fiji, covers an area greater than 200km2 and is largely under explored (see Figures 1 and 2).
- The Dakuniba prospect within Viani has been previously sampled where epithermal gold mineralisation has been recorded in outcrop samples over a >3km strike length.
- Multiple epithermal veins within the Dakuniba prospect area, 5km by 1.5km surface gold-in- soil geochemical anomaly - the footprint of the epithermal mineralisation is comparable to other economically productive gold epithermal deposits globally.
- Previous drilling by Japanese International Cooperation Agency (JICA) in 1997 focused on a small, shallow part of the overall system and intersected high grade epithermal gold mineralisation.
- (Hole MJFV-5 (see Figure 3) over 6 vein zones at 50 to 100m below surface with best results, 0.6m @ 27.6 g/t Au & 900 g/t Ag and 0.4m @ 11.7 g/t Au1 and remains open in all directions.
- The JICA drilling was limited to only 600m of strike-length of the 5km long gold-in-soil anomaly (>10ppb Au) supported by epithermal geochemistry i.e., Ag and As.
- Based on discovery knowledge from epithermal systems worldwide, it is apparent the historical drilling was an inadequate test of the Viani gold system.
Alice Queen’s Managing Director, Andrew Buxton said,
We are delighted the SPL1513 license has been renewed for a further three years and look forward to continuing to work alongside the Fiji Mineral Resources Department as we commence our next phase of exploration activities. The Viani Gold Project is a tremendous prospect which has demonstrated it has the potential to become a significant epithermal system. With the license now renewed and the Company fully funded for its Fiji exploration plans, Alice Queen will continue the systematic exploration of the Viani Gold Project with the Company having commenced planning for its upcoming exploration programs.
Viani
Figure 1. Fiji Project locations.
Figure 2. Location of the Dakuniba Prospect in relation with SPL1513.
The Viani project (SPL1513) covers an area greater than 200km2 on the Caukadrove Peninsula on the Pacific Rim of Fire, Vanua Levu, Fiji. It is well serviced from Savu Savu on Vanua Levu and is highly prospective for a high-grade LSE gold system (see ASX releases 2 December 2022, “VIANI UPDATE” and 6 March 2023, “ALICE QUEEN UPGRADES VIANI EPITHERMAL PROJECT”.
Following a renewal process for Viani (SPL1513) which the Company commenced earlier this year (including as announced in the Quarterly Activities Report released to ASX on 23 April 2024), MRD notified Alice Queen on Friday 19 July 2024 that the license had been renewed with effect from Wednesday 3 July 2024 for a further three years. The renewed license includes typical terms for a license of this nature, including minimum work program and expenditure requirements.
Whilst the greater project area remains under explored, extensive sampling, trenching and (historic) limited drilling of the Dakuniba prospect area has been previously completed.
Previous drilling by JICA in 1997 returned multiple epithermal gold intersections in shallow drilling. Hole MJFV-5 (see Figure 2) intersected 6 vein zones at 50 to 100m below surface (best results include 0.6m @ 27.6ppm Au & 900ppm Ag, 0.4m @ 11.7ppm Au & 4.3ppm Ag)1. The JICA drilling was limited to only 600m of strike-length of the 5km long gold-in-soil anomaly (>10ppb Au) supported by epithermal geochemistry i.e., Ag and As.
Further details in relation to upcoming exploration plans at Viani will be announced in due course.
Click here for the full ASX Release
This article includes content from Alice Queen Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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