Sydney, Australia (ABN Newswire) – New Energy Minerals Limited (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020.
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Magnis Resources (ASX:MNS) is pleased to present its Quarterly Activities Report for the period ended 30 June 2018.
• Gigafactory relocation to New York State in progress
• Agreements signed to fast track Townsville Battery Plant
Magnis has announced its participation in global consortiums, including ownership, to operate lithium-ion battery gigafactories in Australia, the USA and Germany. As a member of these consortiums, Magnis’ role will be to provide raw materials and associated technologies to assist in the production process. The Company is also involved with the development and ultimately mining natural flake graphite for use in various industries, including batteries for storing electrical energy.
The major activities announced during the past quarter are summarised in this report.
Gigafactory Relocation to New York State Underway
Imperium3 New York (iM3NY) has made solid progress on its New York Gigafactory project with the relocation of the battery plant from North Carolina, whereby Magnis now has an overall 44% direct and indirect shareholding through the IM3 Global Consortium.
Co-ordinated mobilisation efforts toward the disassembly, packaging and shipment of recently acquired equipment from a manufacturing plant located in North Carolina to the iM3NY facility at Huron Campus, the birthplace and former headquarters of IBM in Endicott, New York are well progressed. The Company is pleased to advise that these works programmes are all on-target and continue to advance according to plan.
Further, the development of design specifications for prismatic cells and related manufacturing processes are well underway at C4V’s Development Centre at the State University of New York in Binghamton.
During the process, iM3NY with the assistance of Magnis, are working closely with all relevant equipment
manufacturers to accelerate the mobilisation and re-engineering works programs to deliver the optimum outcomes
for all stakeholders.
Figures 1a and 1b : Lithium-ion manufacturing equipment undergoing disassembly process and being packaged with extreme care for the move to New York
The mobilisation process began in North Carolina in April of this year and is on track for completion within the next 1-2 weeks. All battery plant equipment is expected to be delivered by early August to the iM3NY facility in the Huron Campus Facility.
Figures 2a and 2b : Lithium-ion cell manufacturing equipment on floor and after disassembly and packaged for shipment
Figures 3a, 3b, 3c : Equipment after packaging, while loading for shipment to New York factory from North Carolina
Process and Product Optimisation work
As an integral and strategic element in planning and executing the acquisition of Lithium-ion Battery (LIB) manufacturing equipment in February 2018 (Refer to ASX Announcement on 8 February 2018), iM3NY is committed to diversifying its product offerings to include prismatic cells in addition to its original cylindrical cell product lines.
Each product requires ongoing reviews of the design, as well as careful validation and qualification of components that are required to build a single cell of a LIB. Thus, through the auspices of a highly capable and experienced team at C4V’s Development Centre in Binghamton, New York, the consortium has attained extremely satisfying outcomes in the last few months in terms of optimising cell design for drop-in integration to the new production line acquired, as well as achieving equally satisfactory performance targets from the Company’s qualified supply chain partners.
Investor meetings, site visits and offtake discussions
Senior Imperium3 executives have undertaken numerous investor meetings during the quarter, some of which have included site visits to the Huron campus where iM3NY is establishing its New York manufacturing presence. Further, the consortium has hosted visits by large European and United States based OEM’s to the facilities to inspect the significant progress first hand.
With all equipment expected to be delivered at the New York facility within the coming fortnight, iM3NY plans to organise additional site visits catering to potential partners across the investment communities of Australia, Europe and the United States.
Further, the Company advises that offtake discussions are continuing with highly prospective customers. iM3NY expects to enter into definitive agreements with these potential partners and anticipates first production from the New York plant in the first half of 2019.
About the Imperium3 Global Consortium and iM3NY
Members of the Imperium3 Global Consortium (Charge CCCV (C4V), Magnis and Boston Energy and Innovation) have been working together for the last 3 years to develop a sustainable supply chain to produce lithium-ion batteries across the globe in multiple locations.
The first USA project, “Imperium3 New York” has received New York State Government support, partial funding and other financial incentives to build the first Gigafactory (15GWh per year LIB) for lithium-ion battery cell production in New York. With this support, first production for a 1GWh line is planned for mid-2019 from iM3NY’s Endicott, NY facility on the Huron Campus.
iM3NY is a recently formalised consortium consisting of five key constituents (C4V, Primet Precision Materials, and C&D Assembly, Magnis and BEI). Additionally, over 45 global companies are participating as strategic value-chain partners.
The consortium has unique and patented lithium-ion battery intellectual property. Its members have been involved in battery production with the requisite, knowledge, experience, expertise and capabilities for lithium-ion battery manufacture from raw materials, to particle engineering, to systems electronics, to cell/battery manufacturing. At the management level, in addition to the highest-level battery expertise, the consortium comprises successful senior executives in all disciplines from a variety of multi-national companies.
The consortium’s objectives are to establish new capacity of lithium-ion battery manufacturing from outside the Pacific Rim. The organisational structure will be grown to enable the necessary and critical agility for rapid commercialisation of new lithium-ion battery technologies, including support for open innovation that is necessary for sustained high performance and low-cost battery products.
Figure 4 : Unloading machinery at Huron Campus
Agreements signed to fast track Townsville Battery Plant
As announced to the ASX on 5 June 2018, new project partners including SIEMENS, Celgard, Probuild, Norman Young & Disney, Ausenco and WT Partnership joined the Imperium3 consortium to assist with project delivery and $3.1 million was committed in funding from the Queensland Government towards the feasibility study of the planned lithium-ion battery plant in Townsville.
A signing ceremony hosted in Boston, Massachusetts on 3 June 2018 included Queensland Premier Annastacia Palaszczuk, Townsville Mayor Jenny Hill and senior representatives from Siemens, Celgard and Imperium3. An agreement was signed to help fast track the Townsville Battery Plant (see Figure 5).
Figure 5 : Signing Ceremony to fast track The Townsville Battery Plant endorsed by Queensland Premier Annastacia. Palaszczuk with representatives from Townsville City Council, Imperium3, Siemens and Celgard.
The committed funding allows for a feasibility study and detailed engineering work programs to begin immediately. The work will be carried out by key project partners that are also expected to be involved in the subsequent construction of the project, enabling the development to be fast tracked once an investment decision is made.
Tanzania – Nachu Graphite Project (NGP)
The NGP in Tanzania continues to steadily progress through the project requirements embracing the inclusion of the Special Economic Zone (SEZ) and Export Processing Zone (EPZ) into the broader project and the adjustment from recent legislation changes. The broader Magnis involvement in battery manufacturing and what the SEZ/EPZ will generate to Tanzania has been very positively received by the Government due to the fact that substantial value addition will be made within the country in-line with the policy of Tanzania. The Mining Commission upon which most mining and processing development requires consultation, is settling down to business.
During the quarter, activities continue with essential preparations for the SEZ/EPZ including on-ground demarcation of boundaries and engineering planning and revised design inclusions. The Company continues to
foster goodwill and respect within the local community with a continuation of planning and programs addressing access to learning material through a central library supporting the district schools. An increased education for local students will provide a more valuable workforce for future operations. The local villages and district government has been very supportive to the project and understanding of delays encountered whilst the Company addresses the revised legislation requirements.
Technology Produces Superior Battery Results
Subsequent to the quarter end reporting period, the Company announced to the ASX on 20 July 2018 that Magnis and exclusive partner, Charge CCCV (“C4V”) noted that joint testing programs on the commencement of lithiumion battery manufacturing are well advanced. Magnis and C4V have made significant progress in qualifying patented next generation materials for leading battery performance and commercial supply chain partners.
Recent test programs utilising silicon enhanced graphite anode materials have delivered major advances in both anode performance and the cost of its manufacture. In particular, the patented nanostructure silicon composite material can now be manufactured at a significantly lower equivalent cost to graphite after allowance for its increased capacity.
Supply chain qualification for commercial integration benefits include:
• First cycle lithiation capacity of 623+ mAh/g, a 80% improvement on the energy density performance of existing graphite-based anode material;
• A first cycle efficiency of >89% without any pre-lithiation;
• Greater than 98% capacity retention after 35 cycles
In general terms, 80% more capacity translates to approximately 30% more distance covered by a vehicle using a similar battery pack size, when compared by dimensions. For example, an average Tesla battery has a range of approximately 450km and the results achieved here would allow the same size battery pack to achieve 600km.
Figure 6 : First cycle of Li-ion coin cell made with Nachu graphite and composite silicon.
Figure 7 : Cycling data of Nachu graphite and composite silicon anode
The Company has received significant levels of interest from leading anode suppliers for the silicon graphite anode blend. Samples and results are currently being shared with these parties.
Original Equipment Manufacturers qualification has also begun with battery cells being recently sent to OEM’s in the United States. Larger volumes of samples are being prepared for delivery and will be sent to European OEM’s later this quarter.
Discussions to date have been promising and the Company expects to reach an agreement before the end of the calendar year.
Magnis and C4V Generation 1 and Generation 2 cathode technologies have received interest from groups within the battery industry and potential new entrants to date. Generation 1 cathodes, which will be ready for mass production in the near term, do not require any cobalt or nickel and have much higher capacity than phosphate (such as LFP) or oxides (such as NMC, NCA, LMO). Generation 1 cathode BM-LMP has been tested on commercial size (several Ah) cylindrical as well as pouch form factors. Generation 2 is targeted towards higher energy density (~300Wh/kg) and higher temperature stability (no cooling until 65°C). Testing for Generation 2 remains ongoing and the Company will provide an update to shareholders as developments materialise.
The cash position for the Company at 30 June 2018 was A$1.55M.
The Company is exploring opportunities presently for its funding alternatives to provide an adequate capital base level for the future, as the Company continues its focus on the lithium-ion battery factory strategy (with the New York Gigafactory scheduled for first production next year) including the responsibility for the end to end supply chain in sourcing the raw materials and associated technologies for lithium-ion battery cells.
As per the announcement made to the ASX on 25 July 2018, potential investors, both domestic and international are currently undertaking various forms of due diligence with a view to making an investment in Magnis. Cornerstone investments form part of this interest and discussions are continuing and the Company is aiming to be in a position to announce a definitive investment this quarter.
Resignation of Director
Mr Peter Sarantzouklis resigned as a director of the Company on 16 April 2018.
The following is the Schedule of Mineral Tenements held by the Company:
SML550/2015 SML Nachu (100%)
PL10929/2016 Nachu (100%)
Dr Frank Houllis
Chief Executive Officer
Magnis Resources Limited
+61 2 8397 9888
Australia isn't a producer of graphite (yet), but three states in the country are home to millions of tonnes of reserves and resources.
Graphite has been growing in popularity in recent years as its applications as a battery mineral are realised, and as the popularity of electric vehicles grows around the world.
A form of carbon, graphite is a good conductor and is invaluable in electronics. It comes in three different forms, each with their own valuable applications in modern technology, making it a sought-after commodity without which supply lines for many industries around the world would grind to a halt.
Graphite isn't produced in Australia (yet), but the country sits on 1.05 million tonnes of ore reserves, and 7.14 million tonnes of economic demonstrated resources (EDR), as per 2017 government data — and those numbers are way up from the previously disclosed data from Canberra in 2013.
But back to Australia, whose graphite reserves and EDR are shared between three states: Queensland, with 1.32 million tonnes EDR, South Australia, where 4.72 million tonnes EDR can be found, and Western Australia, which is home to 1.1 million tonnes EDR.
Exploration is on the up in Australia and around the world for graphite, with demand for the mineral set to grow thanks almost solely to the proliferation of electric vehicles.
The Australian government is cognizant of this development, reporting that it is confident interest in the mineral will not only remain high, but will increase as time goes on. In fact, graphite is classified by the nation's government as a critical mineral, and the country has dedicated significant resources to researching market gaps and opportunities available.
The government has identified five projects between Western Australia and South Australia that have the potential to bring Australia to the table when it comes to production.
However, as of the most recent government report, none of them are producing. One asset is being explored, another is in the prefeasibility stage and the remaining three are in the feasibility stage.
The most developed projects appear to be Mineral Commodities' (ASX:MRC) Munglinup project in Western Australia, where a definitive feasibility study was completed in early 2020, with a final investment decision targeted in 2023, and Renascor Resources' (ASX:RNU) Siviour project on the Eyre Peninsula in South Australia, which has a final investment decision slated for 2022.
Renascor has hopes for production to begin by the end of 2023, and has signed memorandums of understanding for 100 percent offtake agreements. The company boasts that Siviour, which had a definitive feasibility study completed recently — is the world's second largest proven reserve of graphite, and the largest graphite reserve outside of Africa.
For its part, the Munglinup project in Western Australia is Mineral Commodities' second major graphite project, behind its flagship Skaland project in Norway. Munglinup is in the far south of Western Australia, near the port city of Esperance — giving it fantastic transport options.
Both Munglinup and Siviour, if they proceed in coming years, would produce 132,000 tonnes of graphite between them in the early stages — putting Australia well and truly on the leaderboard globally when it comes to graphite production.
The remaining projects — though not as developed or as far along with investment planning — would add another 178,000 tonnes of graphite production if they are constructed as envisaged.
As boasted by the Australian government, "the only direction for Australia's graphite production is up" — though that is indeed a reflection of the fact that current graphite production is exactly zero.
More broadly, Australia is positioning itself to take advantage of wider industry gains across the electric vehicle market, and to present itself as a reliable trading partner. Graphite, like rare earths, is classed a critical mineral by both Australia and the US — and its use extends beyond technology and into national security as well given its applications as a heat-resistant material.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Sydney, Australia – New Energy Minerals Limited is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020. Corporate Update New Project Acquisition The Company has previously announced with the closing of the Balama Sale Transaction on 17 July 2020 that it has no further operations in Mozambique and that the closing also represented a disposal of its …
Sydney, Australia (ABN Newswire) – New Energy Minerals Limited (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020.
New Project Acquisition
The Company has previously announced with the closing of the Balama Sale Transaction on 17 July 2020 that it has no further operations in Mozambique and that the closing also represented a disposal of its main undertaking as previously approved by shareholders at a general shareholder meeting on 13 May 2020.
Subsequently, the Company agreed to acquire a new mineral project and on 13 October 2020 requested a trading halt pursuant to ASX Listing Rule 17.1 pending announcement of a project acquisition.
On 13 November 2020, the ASX suspended the Company from official quotation pending the release of an announcement regarding an acquisition and that the Company’s securities will remain suspended until it has recomplied with Chapters 1 and 2 of the Listing Rules, including the issue of a prospectus.
Arena Investors Dispute
Confidential settlement negotiations with Arena have continued during the quarter and the Company expects to be able to make a further announcement in this regard during the first quarter of 2021.
Appointment of experienced technical directors
On 18 November 2020, the Company announced the appointment of Dr Bernard Olivier and Dr Evan Kirby to the Board of the Company in conjunction with the resignation of Mr Paul Ching and Mr Jackie Lee. Both were nominated to the Board by the Company’s largest shareholder UBezTT International Investment Holdings (BVI) Ltd.
To view the report, please visit:
About New Energy Minerals Ltd:
New Energy Minerals (ASX:NXE) is an ASX listed junior mining company, that recently announced the divestment of the Company’s Caula vanadium – graphite project and the Montepuez Ruby project in Mozambique.
New Energy Minerals Ltd
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Syrah remains engaged in progressing the feasibility study for the scale-up of the Vidalia facility post-product qualification.
Graphite producer Syrah Resources (ASX:SYR,OTC Pink:SYAAF) said it is temporarily suspending operations at its Vidalia battery materials plant in the US state of Louisiana following a state-wide “Stay at Home Order” to fight the spread of COVID-19.
The order, issued on Sunday (March 22), will be in effect until April 13, with Syrah saying it does not meet criteria for exclusions under this regulation.
“This will delay the distribution of purified natural graphite samples for qualification with potential customers whilst the Stay at Home Order remains in place,” the company said in a press release.
Right now, Syrah’s team is working remotely to progress the feasibility study for the scale-up of the Vidalia facility post-product qualification.
The US plant, which the company purchased for US$1.23 million, produced its first unpurified spherical graphite at the end of 2018, with qualification samples dispatched to target customers in early 2019. The facility has environmental permits in place and an initial milling capacity of 5,000 tonnes per year.
Syrah’s Balama graphite project in Mozambique, which is the largest natural graphite operation outside of China, remains operational at this time.
“The company continues to monitor and assess the international mobility of personnel, the free movement of goods through supply chains and broader market conditions,” Syrah said, adding that it continues to strengthen protocols in response to COVID-19 risks at the asset.
Back in September, the company reduced production volumes to 5,000 tonnes per month at Balama due to volatility in the market. Syrah said it has continued its moderated production strategy into Q1 of this year as planned, seeking to match production volumes with market demand.
“Despite the near-term uncertainty due to COVID-19, the long-term market fundamentals for natural flake graphite remain intact, with ongoing commitment to the decarbonisation of the transport sector via lithium ion powered electric vehicles by supply chain participants and governments,” the company said.
Syrah expects its end-of-quarter cash balance to be broadly aligned to guidance of US$64.6 million.
On Tuesday (March 24), Syrah was trading up 2 percent at AU$0.23. However, the company’s share price has been suffering since the start of the year, and is down more than 50 percent since January.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
“Australia has the opportunity to be a green energy powerhouse if it has the political will and foresight, endowed with vast reserves of lithium, nickel, copper, rare earths, uranium and plenty of wind and sun to drive renewable energy production.”
— David Franklyn, Argonaut
“Industrial metal prices will continue to rise, supported by lack of supply and rising demand as the globe continues to recover and restrictions lift. With copper and aluminium stock already running low, development could send prices back towards — and potentially above — the record levels seen last year. Commodities and energy stocks will likely remain the best performers — they are so far in 2022.”
— Jessica Amir, Saxo
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Western Australia’s International Graphite (ASX:IG6) has signed a non‐binding Memorandum of Understanding (MOU) with ZEN Energy with the objective of concluding binding agreements for the purchase of firmed renewable energy from ZEN Energy by International Graphite for its Collie operation
ZEN Energy, whose major shareholder is leading climate change economist Professor Ross Garnaut, is a renewable energy retailer that currently supplies the electricity needs of the South Australian Government, CSIRO’s sites in the eastern states, a set of commercial and industrial businesses in the SACOME Buying Group and twenty‐five local regional councils in New South Wales. ZEN is assessing the feasibility of building a 200MW, 600 to 800MWh battery at Collie, south of Perth. The battery would be around four times the size of Tesla’s big battery in South Australia.
International Graphite is developing downstream graphite processing facilities in Collie. This facility will undertake research and development activities and conduct pilot testing of graphite concentrates for purification and spheroidising of graphite for Battery Anode Material (BAM) applications, as well as produce micronised graphite. It is the Company’s intention to expand the facility to commercial scale production.
The power supply agreement with ZEN Energy would provide a renewables power source to drive the graphite technologies that International Graphite plans to develop at its downstream processing facility. This will help the company achieve its targets for low carbon emissions and facilitate rapid production expansion in the future.
Both International Graphite and ZEN Energy are supported by the Western Australian Government, which awarded International Graphite $2m through the Collie Futures Industry Development Fund toward the establishment of a graphite micronising plant at Collie and up to $1 million for the first stage of ZEN’s big battery feasibility study.1 This investment by the WA Government in both projects demonstrates its commitment to build Collie as a future centre of renewable energy projects in Western Australia.
International Graphite Executive Chairman Phil Hearse said access to renewable energy underpins our ability to deliver highly ESG accredited products into global markets.
“A critical supply of green power gives International Graphite an important advantage, helping ESG and environmental objectives, as well as supporting a new supply chain that will bring jobs to Collie and opportunity to Western Australia,” Mr Hearse said.
ZEN Energy’s big battery would help manage wholesale market risk in a program to supply renewable energy to new and existing industrial projects in Collie. It is expected to be a key feature in a new Collie Battery and Hydrogen Industrial Hub Project, which is the centrepiece in the Western Australian Government’s $100m strategy to create a major renewable energy centre in Collie and transition the local economy away from coal.
ZEN Energy CEO Anthony Garnaut said, “We are committed to creating practical energy supply solutions for customers seeking to grow their business on a sustainable footing.”
“Successful cooperation with International Graphite strengthens the commercial case for a big battery in Collie and provides a practical demonstration of how Australia can become a renewable energy superpower.
“There are additional benefits that a large battery will bring to the Western Australian grid. For example, it will support the continued investment of West Australian households in roof top solar by providing the ability to soak up excess solar energy, reducing the need to curtail residential solar production.”
This announcement has been authorised for release by the Board of Directors of International Graphite.
This article includes content from International Graphite , 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.
Winsome Resources CEO Chris Evans said, “Canada and the US are working feverishly to develop an internal battery materials supply chain and we think we're going to play a critical role in that.”
Winsome Resources CEO Chris Evans: Sustainable Hardrock Lithium Opportunities in Quebec youtu.be
Winsome Resources (ASX:WR1) CEO Chris Evans joined the Investing News Network to discuss the company and its Cancet lithium project in Quebec, Canada.
"We listed on the ASX on November 30, 2021," he explained. "We're lithium focused but based in Canada, and we've been pretty successful in the last six months — our share price has done well. I think I've been putting this down to the success factors which we possess as a company, including the fact that we're into lithium at a moment with high demand. Any mining company that's associated with lithium has tended to do well.
“Our assets are in Quebec, a fantastic mining jurisdiction for all sorts of reasons. Also, being listed on the ASX — Australian investors tend to like early stage plays a bit better. They've certainly woken up to the electric vehicle and lithium revolution that's occurring in the world. And it's a pleasure having the assets in Canada.”
Next, Evans got into specifics about the company's flagship project. “The Cancet project is our flagship, in the James Bay region of Quebec. All our projects are hard-rock lithium; that's digging the rocks out of the ground and concentrating the lithium in them. Then it gets converted into the final product, which is lithium carbonate or hydroxide, that then goes into electric vehicle batteries,” he explained.
“Cancet’s had about 5,500 metres of drilling done on it historically, so we know that there's a great deposit of lithium at fantastic grades. It outcrops on the surface, the lithium-containing spodumene from the pegmatite rock, where we have 3.7 percent lithium oxide over a 17 metre interval from the surface at our most successful drill hole. We just completed 2,000 metres of drilling ourselves, increasing our knowledge of the orebody that's there, and also looking for extensions to the orebody. We've got 395 claims, and our drilling and exploration is only over about 15 of the claims. So we've got a lot further to look here and a lot more to develop.”
As for supply location, and the company's relationship with the international market, Evans said, “We think it's fantastic for us, and our shareholders, that we have assets in Quebec. Roughly 50 percent of the world's hard-rock lithium comes from Australia, where it’s mined and concentrated. The problem is that final conversion into lithium carbonate or hydroxide all occurs at the moment in China ... lithium is on the critical minerals list in Canada, the US and Australia, and Canada and the US are working feverishly to develop an internal battery materials supply chain. We think we're going to play a critical role in that.”
Elaborating on the sustainability industry that drives the battery revolution, he said, “(Nearly) all power in Quebec is generated by hydroelectricity and renewable forms of electricity. That’s very important, because the mining and concentration process for lithium products traditionally produces a large carbon footprint, because it's energy intensive. The EU, from 2024, has mandated that all batteries are labeled with the carbon footprint of all the materials that are contained within them. Then, by about 2026, there's specific targets that batteries have to meet in order to be sold in the EU. If you don't have a renewable source of energy to produce your lithium products that go into those batteries, it's going to severely restrict your markets — and that's another bonus for us being in Quebec.”
Evans said that Winsome Resources’ approach is to develop a mine itself, rather than selling or partnering. “We will approach this as if we are going to be developing the Cancet project, and producing lithium ourselves, in four or so years. And I think that'll best serve our shareholders.” With regards to other ways the company could benefit investors, Evans said, “Being listed on the ASX, and having access to a lot of capital, I think there's a great opportunity for us to acquire other projects in Canada. We're about to start our summer exploration. And we're on the lookout for a new project. So I think the good news is really to come.”
Watch the full interview of Winsome Resources CEO Chris Evans above.
Disclaimer: This interview is sponsored by Winsome Resources (ASX:WR1). This interview provides information that was sourced by the Investing News Network (INN) and approved by Winsome Resources in order to help investors learn more about the company. Winsome Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Winsome Resources and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Where are the silver mines in Australia? You might be surprised to learn that the country is home to one of the world’s top primary silver producers.
Mining is a big part of Australia’s history, and it continues to shape the country’s economy and position in the world today. The nation is one of the world’s top producers and exporters of resources, with coal, uranium, copper and gold being some of its best-known commodities.
Australia is also a key producer of silver — it was the world’s fifth-largest producer of the metal in 2021, tied with Russia, putting out 1,300 MT. Interestingly, most of Australia's silver is produced from silver-bearing galena, but some is also produced from copper and gold mining.
Refined silver comes mainly from the Port Pirie lead smelter and refinery in South Australia, though silver is also refined at gold refineries in Perth, Kalgoorlie and Melbourne.
But where are the silver mines in Australia, exactly? While it’s interesting to know what types of deposits the precious metal is found in, many investors want to know what companies are producing silver and where their mines are located geographically. Read on to find the answers to those questions.
Silver has played a role in Australia since the mid-1800s — Wheal Gawler, Australia’s first metal mine, was a silver-lead mine developed in South Australia in the 1840s. And that’s not Australia’s only early silver-mining operation — the Broken Hill deposit in New South Wales and the Mount Isa deposit in Queensland are two other early Australian silver discoveries.
Broken Hill, a lead-zinc-silver deposit, was discovered in 1883 by German immigrant Charles Rasp, and the Broken Hill Proprietary Company was born in 1885; it ultimately merged in 2001 with another mining giant, Billiton, to form BHP Billiton (ASX:BHP,NYSE:BHP,LSE:BLT). BHP Billiton is no longer involved with Broken Hill, but ore is still being extracted there today. Perilya now runs the southern and northern operations.
For its part, Mount Isa was discovered in 1923 by John Campbell Miles, and like Broken Hill is still producing today. It was acquired by Glencore (LSE:GLEN) in 2013 and in addition to silver is also a producer of zinc.
These major early Australian silver discoveries are not the country’s only sources of silver. Other silver mines in Australia include Cannington, one of the world’s top primary silver producers. It’s a fly-in, fly-out mining and processing operation that is owned by South32 (ASX:S32,LSE:S32), a diversified resource company spun out from BHP Billiton in 2015. Cannington also produces lead and zinc.
Australia holds the McArthur River mine as well, which opened in 1995 and is owned by Glencore subsidiary McArthur River Mining. The mine is one of the world’s largest zinc-lead-silver mines, and is located in Australia’s Northern Territory.
Glencore’s 2021 annual report claims total silver production reached 31.519 million ounces for the year, representing a 4 percent drop from 2020. That includes 625,000 ounces from McArthur River.
The Century mine, which previously belonged to MMG (HKEX:1208), shut its doors at the end of 2015, but was a major producer of zinc (and silver) until that time. It was reopened in mid-2018 by New Century Resources (ASX:NCZ) and the company says it now has an estimated annual production capacity of 264,000 tonnes of zinc and 3 million ounces of silver.
Independence Group (ASX:IGO) also produces silver, along with copper and zinc, at its Jaguar operation in Western Australia. Gold producer Silver Lake Resources (ASX:SLR) owns some projects with silver reserves as well. As you can see, there are and have been many silver mines in Australia.
In addition to being home to a slew of large silver mines, Australia also plays host to many companies that are exploring and developing silver projects. Below are a few that have made recent progress.
Please let us know in the comments if we’ve forgotten to mention any Australia-focused silver companies. All companies listed had market caps of at least AU$5 million on May 19, 2022.
Argent Minerals (ASX:ARD) — Argent Minerals’ main asset is its 100-percent-owned Kempfield polymetallic project in New South Wales. In May 2018, the company announced an updated resource estimate for the asset — its silver equivalent contained metal now stands at an estimated 100 million silver equivalent ounces at 120 g/t silver equivalent; that’s approximately double the previous estimate.
In total the company has three projects, with all of them being in New South Wales.
Investigator Resources (ASX:IVR) — Investigator Resources is advancing silver, copper and gold deposits in South Australia. Currently its properties include the Peterlumbo/Paris silver project, the Eyre Peninsula and Stuart Shelf projects and the Northern Yorke Peninsula projects.
The total resource for Paris stands at an estimated 18.8 million tonnes at 88 g/t silver and 0.52 percent lead for 53.1 million ounces of contained silver and 97,600 tonnes of contained lead (at a cut off of 30 g/t silver). The indicated component is 12.7 million tonnes of silver (95 g/t) and represents 73 percent of the total estimated resource ounces.
Horizon Minerals (ASX:HRZ) — Horizon Minerals owns the Nimbus silver-zinc project in Western Australia. Nimbus has a high-grade silver-zinc resource estimate of 255,898 tonnes at 773 g/t silver and 13 percent zinc; the total Nimbus resource stands at 1.21 million tonnes at 52 g/t silver, 0.9 percent zinc and 0.2 g/t gold.
Silver Mines (ASX:SVL) bills itself as a leading Australian silver exploration company, and has spent a considerable amount of time acquiring Australian silver projects. Those include Malachite Resources’ (ASX:MAR) Conrad project and Kingsgate Consolidated’s (ASX:KCN) Bowdens silver project.
While the company’s main focus has been on the Webbs silver project in New South Wales, the Bowdens project represents the largest undeveloped silver project in Australia, and Silver Mines is working to get the project through the feasibility, environmental impact statement and permitting stages.
In a 2018 report, the feasibility study demonstrated an average silver production of 3.4 million tonnes per annum for the project, with 5.4 million during the first three years of operation. Estimations also included 6,900 tonnes of zinc and 5,100 tonnes of lead.
This is an updated version of an article first published by the Investing News Network in 2018.
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Securities Disclosure: I, Ryan Sero, hold no direct investment interest in any company mentioned in this article.