Tag: Northern Star Resources

MinRes awards $46m contract to Bill Beament's Develop Develop Global Limited (ASX: DVP) has been awarded a $46m contract to develop an exploration decline at the Mt Marion lithium mine in WA, about 40km southwest of Kalgoorlie. The contract is expected to start in early 2024 with a term of 18 months. Former Northern Star Resources boss Bill Beament, who now heads Develop as its managing director, says “the award of this contract to Develop is a significant vote of confidence in our world-class underground mining team”. “We have built a world-class underground mining team with immense experience in developing and operating underground operations, especially in WA,” he...

AUSTRALIA’S national science agency CSIRO and the WA Government have teamed up to research mineralisation in the Yilgarn province, potentially unlocking new gold deposits in the area 400km east of Perth, WA. The eastern Yilgarn region has historically had fewer gold discoveries than its neighbouring, richly endowed eastern Goldfields region, despite sharing Archean geology from over 2,500 million years ago. Researchers discovered distinctive patterns in the chemical alteration of surrounding rocks during the formation of ancient gold deposits during the Archean period. Through the Minerals Research Institute of WA (MRIWA), the WA Government has invested in research to support future mineral exploration and understand chemical patterns in ancient rocks. WA mines and petroleum minister Bill Johnston said the discovery of...

A 793C haul truck rumbling down Hannan Street in Kalgoorlie-Boulder provided a fitting, awe-inspiring finale to the 20th annual St Barbara’s parade. The annual event draws in big crowds each year to honour the patron saint of mining, St Barbara, as well as the mining sector as a whole. The Gold Industry Group (GIG) brought West Coast Fever netball stars to the parade, alongside other GIG members Northern Star Resources, Gold Fields, SMS Mining Services, Saracen Mineral Holdings, Norton Gold Fields and Evolution Mining. KCGM displayed a NAIDOC-themed haul truck, with truck tray artwork commissioned by local indigenous artist Jason Dimer and his family earlier this year. Other entries included a 992K loader, force water cart and a newly-purchased Mining...

NORTHERN Star Resources (ASX: NST) has entered into a binding agreement with Newmont Goldcorp to acquire 50pc of the KCGM Super Pit and other tenements in Kalgoorlie, WA, for US$775m, and another US$25m for a separate parcel of tenements close by. Northern Star said it expects its share of the KCGM JV to add 120,000-140,000oz to its 2020 gold production at an AISC of A$1240/oz-A$1340/oz. The US$800m (A$1.16b) transaction is expected to be completed by January 2020, subject to approval from the WA minister of lands, while all economic benefit will transfer from 1 January 2020. Saracen Minerals purchased 50pc of the KCGM JV in November, 2019, from Barrick Gold for A$1.1b. Northern Star’s acquisition will put the iconic Super...

AFTER launching a $193m takeover bid late in August, Northern Star Resources  (ASX: NST) has closed the deal to acquire the controlling interest of explorer Echo Resources (ASX: EAR). As Echo Resource's major shareholder, Northern Star offered shareholders $0.33c per share in August (a 39.4pc premium on Echo’s volume weighted average at 19 August) to secure a controlling 59.3pc of Echo’s shares. Echo Resources said the offer implies a fully diluted equity value of about $242.6m, with up to $193m payable by Northern Star for shares it does not already own, or the offer amount. Echo’s Yandal gold project, located 400km north of Kalgoorlie and in close proximity to Northern Star’s Jundee operation, was at the centre of the takeover...

BY ELIZABETH FABRI   AUSTRALIA’S third-largest gold producer Northern Star Resources will boost its exploration program after making multiple discoveries at and around its Jundee gold mine in WA.   As a result of the drilling success, Northern Star increased its FY18 exploration budget by $10 million to $45 million. It plans to accelerate a number of drilling programs to bring the recent discoveries into the Reserve category. The discoveries included high-grade finds at the Zodiac discovery and the Armada trend, 400m and 800m from the Jundee mine, respectively. Northern Star executive chairman Bill Beament said the results would change the way the 10 million ounce (moz) Jundee gold field was viewed.   “With production of 7moz over the past...

Jundee gold mine operations. Image: Northern Star Resources. By Elizabeth Fabri AREAS of high-grade mineralisation have been discovered at Northern Star Resources’ Jundee gold mine, up to 800m from existing operations. The newly-identified resources were found in Northern Star’s first exploration campaign at the mine since it purchased the asset in 2014. While the company was only 15 per cent through its drilling campaign, the early results suggested Jundee would continue to operate at or around current production levels for many years. New discoveries included the Armada and Revelation trends, and the expansion of known parameters of seven mining areas. The Gateway-Gringotts trend produced positive drilling results including 2.8m at 598 grams per tonne, while Westside recorded 0.8m at 3933g/t. Northern Star...