Aug 6, 2020

OceanaGold receives permit for WKP mine in New Zealand

mining
wkp
Oceanagold
Gold
Jonathan Campion
1 min
The Australian gold miner has been granted an exclusive permit to develop the Wharekirauponga (WKP) mineral resource in New Zealand.
The Australian gold miner has been granted an exclusive permit to develop the Wharekirauponga (WKP) mineral resource in New Zealand...

The current indicated resource at WKP is 421,000 oz of gold at 13.4 g/t gold and an inferred resource of 717,000 oz at 12 g/t gold. It is expected to produce 190,000 oz to 230,000 oz per year. The project will be operational for several years.

OceanGold’s president and CEO, John Holmes, commented: “WKP is part of an exciting development plan under way in New Zealand and we look forward to working in partnership with government and local communities to advance our projects in the Waihi district and contribute to the post-Covid economic recovery.”

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May 8, 2021

Global iron ore production to recover by 5.1% in 2021

Iron ore
BHP
Anglo American
GlobalData
2 min
After COVID-19 hit iron ore output by 3% 2020, GlobalData analysis points to 5.1% uptick in 2021

Global iron ore production fell by 3% to 2.2bnt in 2020. Global production is expected  to grow at a compound annual growth rate (CAGR) of 3.7% to 2,663.4Mt between 2021 to 2025. The key contributors to this grow will be Brazil (6.2%), South Africa (4.1%), Australia (3.2%) and India (2.9%). Key upcoming projects expected to commence operations include South Flank in Australia (2021), Zulti in South Africa (H2 2021), Serrote Da Laje in Brazil (H2 2021) and Gudai-Darri (2022), according to GlobalData, a leading data and analytics company.

Iron Ore

Vinneth Bajaj, Associate Project Manager at GlobalData, comments: “Declines from Brazil and India were major contributors to the reduced output in 2020. Combined production from these two countries fell from a collective 638.2Mt in 2019 to an estimated 591.1Mt in 2020. The reduced output from the iron ore giant, Vale, was the key factor behind Brazil’s reduced output, while delays in the auctioning of mines in Odisha affected India’s output in 2020.

“Miners in Australia were relatively unaffected by COVID-19 due to effective measures adopted by the Australian Government, while a speedy recovery in China led to a significant 10.4% increase in the country’s iron ore output.”

BHP

Looking ahead, the global iron ore production is expected to increase by 111.3Mt to 2,302.5Mt in 2021. Rio Tinto is expected to produce up to 340Mt of iron ore, while BHP has released production guidance of 245–255Mt, supported by the start of the Samarco project in December, which is expected to produce between 1–2Mt.The company has retained its guidance for Australian mines at 276–286Mt on a 100% basis, due to scheduled maintenance work at its ore handling plant and tie-in activity at the Area C mine and South-Flank mine.

Anglo American

Bajaj added: “The remaining companies are expected to produce more than 600Mt of iron ore, including FMG, whose production is expected to range between 175–180Mt supported by its Eliwana mine that commenced operations in late December 2020, and Anglo American, which is expecting to produce between 64–67Mt. Vale is expected to resume 40Mt of its production capacity, taking its overall production capacity to 350Mt in 2021, with production guidance of 315-335Mt.”

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