Exploration, mining and processing briefs

Updates on QCoal, MMG, Castillo Copper, Red Fox Resources and more in this week’s exploration, mining and processing briefs. MMG launches share placement Dugald River mine operator MMG has announced a $US300 million ($AU387.5 million) new share placement to strengthen the company’s balance sheet and to step into its next phase of growth. “MMG’s strategy includes achieving a target annual copper equivalent production of two million tonnes by 2030," chief executive officer Geoffrey Gao said. "The net proceeds from the placement will be applied to fund future acquisitions or projects.” QCoal application to expand Byerwen facilities QCoal has lodged a mining lease application to allow an expansion of the workforce accommodation at its Byerwen coal mine, 20km west of Glenden. In supporting documents the company said the mine's workforce was continuing to increase as it transitioned out of construction into full-scale long-term operation and expansion. It proposes an “infrastructure” mining lease over the existing camp footprint to secure the 350-unit camp and enable expansion to 650 units, along with an additional camp access road and associated camp facilities. Rio bows out of Ernest Henry South farm-in Rio Tinto Exploration will withdraw from the Ernest Henry South farm-in agreement with Red Fox Resources, effective June 10. Red Fox Resources said the move followed a technical review of the results from the 2020 drilling program at the North-West Queensland site. "On receipt of the data and related information from RTX, Red Fox will review the tenement to decidewhat future program is warranted in the area," the company stated. Expanded drilling campaign to start at Big One Castillo Copper's geology team has finalised a new 26 drillhole campaign for 2828m to extend known mineralisation at the Big One Deposit in North-West Queensland. Through reconciling legacy drilling and geochemical data against the 2D and 3D geophysical models, the geology team has optimised and expanded the campaign to target several newly identified bedrock conductors. Castillo said logistical support for the upcoming campaign was in place, while the drilling crew was slated to arrive and commence work within the next two weeks. Once drilling is complete at the Big One Deposit, the campaign will move across to the Arya and Sansaprospects. All lie within Castillo's Mount Oxide project in the Mount Isa copper-belt district. Second well spudded at Rolleston-West State Gas has announced the spud of Rougemont-2, the second well in its new Rolleston-West gas project (ATP-2062) in Central Queensland. Following the successful drilling of Rougemont-1, State Gas has commenced drilling Rougemont-2, located some 3.7 km to the north-east. The company is focused on a strategic plan to bring gas to market from nearby Reid’s Dome and Rolleston-West to meet near-term forecast shortfalls in the east coast domestic gas market.

Exploration, mining and processing briefs

Industry Queensland

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