Blue Spec Drilling Pty Ltd

Fortescue Metals ships first delivery of high-grade magnetite from Iron Bridge Fortescue Metals (ASX:FMG) has shipped its first delivery of high-grade magnetite to Vietnam from its newly built Iron Bridge operations in WA. Fortescue chief executive Fiona Hick was joined by Nyamal Traditional Custodians and representatives from Fortescue’s Iron Bridge joint venture partner Formosa in Port Hedland as the first shipment was loaded. Ms Hick said today was a special day for Fortescue. “Today is a truly special day for Fortescue. Last week we celebrated 20 years since Fortescue was founded, and today, we celebrate our first shipment of high-grade magnetite product from our most complex and innovative...

BASE metals junior Sirius Resources has taken full ownership of its Nova and Bollinger deposits, after negotiating a $210 million acquisition deal with 30 per cent company shareholder Mark Creasy. The company entered a binding agreement with Mr Creasy – Australia’s richest mining prospector – via his company Ponton Minerals in mid February, to gain full proprietary of exploration licences across the nickel-rich Fraser Range in WA’s Yilgarn Craton – including Sirius’ famed Nova-Bollinger tenements. The acquisition, which remains conditional on shareholder approval, comprises 70.6 million fully paid, ordinary Sirius shares exchanged for $28 million in cash, and a 0.5 per cent net smelter royalty payable on production made from any future discoveries within the region. Royalty payments exclude any...

THE Newman Government continues to introduce reforms and incentives designed to inject new life into Queensland’s struggling mineral exploration sector, which plummeted 31 per cent for the 2012-2013 financial year. The Queensland Exploration Council (QEC) scorecard, released late October, reported that about one third had been wiped off the market capitalisation of Queensland-based junior miners in the past 12 months, and 81 per cent across the past two years. The QEC’s explorer sentiment survey also indicated that Queensland had a negative rating compared with other states, on key factors such as government/departmental assistance, exploration permit processes, environmental regulations and policy uncertainty. “These findings are despite a raft of proposed, in-train and recently completed government initiatives to reduce red tape and...

By Rachel Seeley THE first shipment of L70 leucoxene product from MZI Resources’ Keysbrook mineral sands project in South West WA has departed Bunbury Port enroute to the US. This shipment marked the start of cashflow from the project, with offtake customer Chemours using the L70 leucoxene to make pigments for paints, plastics and other applications. “This shipment represents Keysbrook’s arrival as the single biggest producer of high value leucoxene in the world, as we continue to ramp up cash flow generation and build value for shareholders through high margin product sales,” MZI managing director Trevor Matthews said. More than 3800t of zircon concentrate was also shipped to Tricoastal/Wensheng – China’s largest mineral sands processor – under a five-year offtake...