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Townsville Battery Manufacturing Plant Feasibility Study Submitted to Queensland Government

Magnis Energy is pleased to announce that Imperium3 Townsville has finalised the feasibility study for a lithium-ion battery cell manufacturing facility

Magnis Energy Technologies Limited (“Magnis” or the “Company) (ASX:MNS) is pleased to announce that Imperium3 Townsville [“iM3TSV”] has finalised the feasibility study [the “Study] for an 18 GWh lithium-ion battery cell manufacturing facility in Townsville, Queensland. Magnis owns one third of iM3TSV.

As announced on 5 June 2018, formal agreements to fast track the Townsville battery plant project were signed with the feasibility study to commence shortly after [ASX Release, 5 June 2018]. The project also received a $3.1 million grant from the Queensland Government [ASX Release, 27 August 2018].

Feasibility Study Outcomes

The feasibility study was primarily performed to develop the detailed engineering plan for the project and to establish financial viability to support subsequent investment decision and project funding.

A significant outcome of the study was to phase the project over 3 stages of 6 GWhs each, for a total
nominal capacity of 18 GWh. This not only reduces the upfront capital expenditure to a more manageable A$1.12B for the first stage, but also allows for project expansion to occur in line with developments in technology and the market.


The site is part of Lansdown Station approximately L-10km south of the Townsville CBD with a total property area of 357 hectares [Figures 1 and 2]. It offers flat terrain and is predominantly vacant land with limited natural vegetation. Situated on the western side of the Flinders Highway, bounded to the north by Ghost Gum Road and south by Bidwilli Road, forming part of a new industrial estate planned by Townsville City Council which has a total area of approximately 2,070 hectares. Environmental assessments of the site including flora and fauna, stormwater, hydrology and flooding, geotechnical and cultural heritage found no major impediments to develop the plant at this site. Major infrastructure and utilities such as roads, electricity and gas are in close proximity to the site.


Figures 1 and 2: Site Location


iM3TSV has selected a cylindrical 32700 form factor for our battery cells as it is better suited to high volume manufacture and offers improvements in performance and cost whilst still maintaining flexibility in the range of applications for its use.


Figure 3 : Battery dimensions of a 32700 form factor


Manufacturing Process

iM3TSV’s manufacturing process was developed with our strategic partners and leading vendors of manufacturing equipment including Durr Megtec and Siemens. Incorporating the latest advancements in battery cell production to increase overall efficiencies and production yields. Ausenco was responsible for combining the individual vendor packages into a fully integrated production process.



Figures 4, 5 and 6: LIB Manufacturing Plant Views of equipment and buildings


There will be approximately 1150 jobs at full operation [3 stages of 6GWhs] including 90 office staff, detailed below.


Execution Schedule

The implementation schedule for the first stage 6 GWh production is shown below.


Capital Cost

iM3TSV’s staged approach to developing the project has significant benefits for funding and product development. Townsville based quantity surveyors Rider Levett Bucknall [RLB] completed an independent review of capital expenditures for each stage as shown below.


The cost for stage 1 is slightly higher than stages 2 and 3, due to the need for iM3TSV to contribute to the cost of extending some trunk infrastructure services to the site.

Financial Analysis

Project revenues and operating costs were compiled using conservative inputs which were used to create a robust financial model for the project. This model enables detailed analysis and scenario testing including product chemistries, production parameters and financing options. The table below shows the key financial metrics of a conservative base case assuming no financial incentives from government and iM3TSV achieving an 80% production yield with standard production configuration.


iM3TSV has recently appointed National Australia Bank [‘NAB] as its financial advisor to assist in developing a project funding strategy.

Next Steps

The next phase of the project is now underway with the key milestones being::

  • Development Approvals. Over the coming months a development application will be completed and submitted to Townsville City Council for formal consideration;
  • Project Funding. iM3TSV’s project funding strategy will be executed with advice from NAB who are the exclusive financial advisor to the project; and
  • Testing and Market Development. iM3TSV will commence battery cell production testing in a commercial setting at equipment vendor facilities. iM3 battery cells will be provided to customers for independent evaluation and qualification as a precursor to procuring offtake

iM3TSV has consulted with local businesses, community groups and State and local government including:

  • Townsville City Council in pre-development application meetings;
  • Edify Energy towards supply of low-cost, renewable power to our facility;
  • Port of Townsville to develop our transport and logistics solutions;
  • James Cook University for collaboration on future education and training, innovation and research facilitation; and
  • RLB quantity surveyors to ensure rigorous cost controls and maximising the amount of local procurement in the project.

Click here to connect with Magnis Energy Technologies (ASX:MNS) for an Investor Presentation.


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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.

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There are many big Australian gold stocks, but these are the five top companies in the sector by market cap.

Australia is the fourth largest producer of gold worldwide, and this past year has brought ups and downs for the commodity. The precious metal hit its 2021 high point early on and fell soon after.

Lately, gold has been resting at a strong price of around US$1,800 per ounce, and it seems like it will exit the year that way. It may even be in for a serious price hike if inflationary pressures continue on their current trajectory.

Read on to learn more about Australia’s five top gold companies by market cap. All market cap and share price information was obtained on November 25, 2021, using TradingView's stock screener.

1. Newcrest Mining

Market cap: AU$19.54 billion; current share price: AU$24.14

Newcrest Mining (ASX:NCM) operates a portfolio of gold mines across Australia, Canada and Papua New Guinea. These include its New South Wales-based Cadia mine and its Western Australia-based Telfer and Havieron mines.

In November 2021, Newcrest agreed to purchase British Columbia-based Pretium Resources (TSX:PVG,NYSE:PVG) for C$3.5 billion, marking the company’s expansion into Western Canada.

2. Kirkland Lake Gold

Market cap: AU$14.57 billion; current share price: AU$54.99

Kirkland Lake Gold (ASX:KLA) has mining operations in Australia and Canada, both of which are low-risk, gold-rich countries. The company’s Fosterville mine is based in Victoria, Australia, and as of December 31, 2018, its mineral reserves stood at 2.7 million ounces. It produced 640,467 ounces in 2020.

In September 2021, Kirkland Lake Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM), a Canadian gold miner, announced a “merger of equals." The new company will go by the name Agnico Eagle Mines, and the companies expect the transaction to close in late 2021 or early 2022.

3. AngloGold Ashanti

Market cap: AU$12.43 billion; current share price: AU$5.83

AngloGold Ashanti (ASX:AGG) is a global gold miner formed in 2004. It has two Australia-based operations, both of which are based in Western Australia’s northeastern goldfields: Sunrise Dam and Tropicana. Sunrise Dam is 100 percent owned, while Tropicana is 70 percent owned, with the remaining 30 percent owned by Regis Resources (ASX:RRL,OTC Pink:RGRNF). In 2020, these operations produced 554,000 ounces of gold.

In Q3 2021, AngloGold Ashanti reported total gold production of 613,000 ounces at a total cash cost of US$927 per ounce. This represents a 5 percent quarter-over-quarter increase in production, though a year-to-date decrease.

4. Northern Star Resources

Market cap: AU$11.39 billion; current share price: AU$9.66

Northern Star Resources (ASX:NST) is an Australian gold-mining company with projects throughout Western Australia and North America at its Kalgoorlie, Yandal and Pogo production centres. In the 2021 fiscal year, Northern Star experienced a 40 percent revenue increase and a 10 percent cash earnings hike.

In late November 2021, Northern Star announced an agreement to buy Newmont Australia’s power business for US$95 million. The company paid US$25 million for the option to purchase this business, an opportunity it was given through its recent 50 percent acquisition of Kalgoorlie Consolidated Gold Mines.

5. Evolution Mining

Market cap: AU$7.53 billion; current share price: AU$4.12

Australian gold miner Evolution Mining (ASX:EVN) has projects throughout New South Wales, Queensland and Western Australia, as well as in Ontario, Canada. Evolution Mining produced 680,788 ounces of gold in the 2021 fiscal year at an all-in sustaining cost of AU$1,215 per ounce.

In 2019, Evolution Mining became one of only two Australian gold companies to be included in the Dow Jones Sustainability Index (INDEXDJX:W1SGI). In 2020 and 2021, the company made several strategic acquisitions and divestments, including its high-value purchases of the Red Lake and the Kundana operations.

This is an updated version of an article originally published by the Investing News Network in 2018.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.

What are the largest Australian copper companies? These five ASX copper stocks are the biggest on the exchange by market cap.

Last year, pandemic restrictions forced copper mines to shut down across the world, driving down global production and causing the 10 largest copper-mining companies to suffer dramatic losses.

But in 2021, copper hit an all-time high of US$10,700 per tonne, and stayed over US$9,000 for much of the year.

The three top copper-producing countries globally are Chile, Peru and China, with Australia coming in at number six. Still, there are plenty of untapped resources in the land down under, and Australia is making a name for itself as an up-and-coming producer of this important base metal.

Read on to learn more about the top five Australian copper companies on the ASX, ranked by market cap. All market cap and share price information was obtained on November 26, 2021, from TradingView.

1. BHP

Market cap: AU$192.56 billion; current share price: AU$38.03

BHP (ASX:BHP) is a top global producer of copper, nickel, potash, iron ore and metallurgical coal, with copper production centralised at its South Australia-based Olympic Dam mine.

The company, whose headquarters are in Melbourne, Australia, emphasises copper’s function in renewable energy systems and the metal’s critical role in reducing carbon dioxide emissions.

Recently, BHP has focused its attention on its energy assets. In late November, the company merged its oil and gas portfolio with Woodside Petroleum, a deal that was originally struck in August of the same year. On the mineral side of its operations, BHP was looking to acquire Noront Resources (TSXV:NOT,OTC Pink:NOSOF), a Canada-based nickel, copper, chrome and platinum company, but decided not to match a superior offer.

2. OZ Minerals 

Market cap: AU$8.77 billion; current share price: AU$25.70

OZ Minerals (ASX:OZL) is a South Australia-based copper-mining company founded in 2008. Its operations include the Carrapateena project, where construction was completed in 2019, and the upcoming Malu underground mine, which was commissioned in 2015.

In a November press release, OZ Minerals reported a year-to-date 5 percent increase in group ore reserve copper metal tonnes. In its third quarter results, the company reported guidance of between 120,000 and 145,000 tonnes of copper for the year.

3. Sandfire Resources

Market cap: AU$2.59 billion; current share price: AU$6.11

Sandfire Resources (ASX:SFR) owns 7,189 square kilometres in the Bryah Basin region of Western Australia, including its DeGrussa and Monty operations. Both of these are 100 percent owned and produce copper and gold.

The company released its third quarter results in October, reporting total copper production of 15,946 tonnes. Sandfire expects output of between 64,000 and 68,000 tonnes of copper in 2022.

4. 29Metals

Market cap: AU$1.29 billion; current share price: AU$2.63

Australia-based mining company 29Metals (ASX:29M) has the Golden Grove mine in Western Australia and the Capricorn copper mine in Queensland, along with several promising new growth opportunities lined up. 29Metals focuses on copper production, though it also mines for zinc, gold and silver.

According to an October release from the company, production was weaker than expected at Golden Grove during the September quarter. However, the asset's quarter-on-quarter decline of about 10 percent was largely offset by a strong performance at Capricorn.

5. Copper Mountain Mining

Market cap: AU$804.96 million; current share price: AU$3.81

Copper Mountain Mining (ASX:C6C) is a Canadian and Australian copper miner, with its flagship Copper Mountain operation in British Columbia, Canada, and its Eva and Cameron copper projects in Queensland, Australia.

In the third quarter, Copper Mountain Mining reported total output of 22.4 million pounds of copper at its Copper Mountain mine, representing a 12.1 percent quarter-over-quarter decline in production. The company still reported positive cash flow, with strong construction and exploration gains made at its Eva and Cameron projects.

This is an updated version of an article first published by the Investing News Network in 2018.

Don’t forget to follow us @INN_Australia for real-time updates!

Securities Disclosure: I, Isabel Armiento, hold no direct investment interest in any company mentioned in this article.