Adelaide's Premier Development and Construction Site
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https://mail.sensational-adelaide.com/forum/viewtopic.php?t=287
it obviously did not cost much to clean up the mess (apart from the collateral damage to their image). I doubt the sharemarket punters worried too much about it...rhino wrote:Wow - Marathon's shares went up 4.65% because they discovered more ore in the World Heritage Area they were almost kicked out of for spreading their rubbish around it earlier this year.
This is a big step towards a looong term energy relationship with China...Sinosteel eyes SA uranium
Sinosteel has applied to develop a uranium ore deposit in South Australia through its joint venture with ASX-listed company PepinNini Minerals, according to The Australian newspaper.
The joint venture Sinosteel PepinNini Curnamona Management lodged a minerals claim with the South Australian government, which is the step made before applying for a formal mining lease.
Sinosteel said the joint venture to develop the $160 million deposit at Cocker Well has been approved by the Foreign Investment Review Board.
The Chinese steel maker has a 60 per cent stake in the joint venture with PepinNini holding the remaining 40 per cent.
Sinosteel's bid for outback uranium
Jamie Walker | September 03, 2008
THE Chinese have moved to buy into Australia's booming uranium industry, with steelmaker Sinosteel yesterday applying to develop a $160 million mine in the South Australian outback, posing a further challenge to foreign investment controls.
The cashed-up Beijing-based consortium is eyeing opportunities in Australian resources, testing the Government's will to regulate Chinese investment in the sector.
Treasurer Wayne Swan already faces a tough foreign investment decision over a bid by Sinosteel for up to 100 per cent of West Australian iron ore miner Murchison Metals.
But Sinosteel yesterday insisted that its joint venture to develop a uranium ore deposit at Crocker Well, 400km northeast of Adelaide, had been approved by the Foreign Investment Review Board under the former Howard government. Sinosteel has a 60 per cent share in the joint venture company, with the remainder held by publicly listed PepinNini Minerals.
Sinosteel PepinNini Curnamona Management yesterday lodged a minerals claim with the South Australian Government, the precursor to a formal mining lease application.
Mike Rann's state Government is Labor's strongest advocate of uranium mining, having backed a new mine at Honeymoon near the Crocker Well site, and generally welcoming further investment in the industry.
Were it to proceed, the Crocker Well operation would be Australia's sixth uranium mine, and the fourth to receive approval in South Australia, after the federal ALP dumped its no-new-uranium-mines policy last year.
Joint venture managing director Fusheng Gao yesterday said that FIRB approval had been granted for the investment before Sinosteel bought into the joint venture company.
It would be the first investment Sinosteel has made in uranium mining, and underlines the Chinese giant's determination to use some of its $18 billion in annual revenues to snap up Australian resources.
This has raised concern about the potential for Chinese buyers of Australian mineral exports such as iron ore and coal to "vertically integrate" by gaining direct control of mines.
China is an emerging market for Australian uranium, with shipments due to begin later this year, according to Resources and Energy Minister Martin Ferguson.
Unlike India, which is also interested in Australian uranium, China is a signatory to the Nuclear Non-Proliferation Treaty, removing any legal impediment to exports of the nuclear fuel.
Asked to clarify whether the company believed it would require additional FIRB approval to proceed with the Croker Well mine, a spokeswoman said: "Their understanding is that there is no further FIRB approval required."
PANAX Geothermal has launched a takeover of junior explorer Osiris Energy and flagged a capital raising of up to $30 million to advance its SA geothermal project.
Panax has agreed to acquire the unlisted geothermal exploration company, Osiris, for $14.8 million or 70.1 million fully paid ordinary Panax shares.
The merger is subject to Panax raising a minimum of $20 million in new working capital and has to be approved by the company's shareholders.
Panax has engaged international investment bank Dundee Securities Corp to assist with a capital raising of between $25 million and $30 million.
"The completion of the Osiris transaction will lift Panax as a geothermal company to a new level and provide Panax with the necessary funding to secure and advance geothermal projects both in Australia and internationally,'' Panax managing director Bertus de Graaf said in a statement.
Dr de Graaf said the company would have about $35 million to $37.5 million in available cash following the merger, which would help advance its key Limestone Coast geothermal project in SA.
"The significant amounts of carbon credits generated by producing zero-emission base-load power is the key to the commercial benefits the Limestone Coast project could create,'' Dr de Graaf said.
Panax currently has more than $9 million in cash, and no debt. Shares in the company gained one cent to 19 cents by 1324 AEST.
I believe the short term Geodynamics goal is to drill some truly deep pilot holes (4+km) by year end - for test purposes.omada wrote:Further to Wayno's post i'm pretty sure that Geodynamics Ltd's pilot geothermal plant near Innaminka will be operational by the end of the year, I haven't heard any further news about this though, but it all looks pretty promising. Coal will soon be dead! ...hopefully...
As they say in the mining business - rock on!SPENDING on mineral exploration in South Australia rose to a record high in the June quarter, the state government says.
Mineral Resources Minister Paul Holloway said the latest figures showed exploration in the three-month period topped $95 million.
That brought spending for the 12 months to the end of June to $355.2 million, a 3.2 per cent improvement on the previous year.
Exploration spending in the June quarter was up 20 per cent on the previous three months. Mr Holloway said the figures showed South Australia was in third place among the states behind Western Australia and Queensland.
"These figures confirm that the global exploration sector has the highest levels of confidence in South Australia's mineral potential,'' the minister said.
i'm not familiar with individual roads, rails, etc. I'm more of a big picture kinda guy - I like stats like "South Australia is expected to play host to 23 mines by 2015 and 40 mines by 2020"skyliner wrote:Do you have any info on proposed rail lines for any of our mines?
sorry if my post is a bit confusing. I mixed recent stats - circa May 2008mattblack wrote:So all this info is based on the 23 mines that are close to production? The other 17 mines you mentioned that are due by 2020 weren't taken into account?
against older but still relevant stats - circa Nov 2007SA will host 23 mines by 2015 and 40 mines by 2020
The later statement (23 companies, 26 projects) is the basis for the $20billion spend, so 14 additional mines have entered early stages of discovery/development between Nov 07 and May 08 (very healthy indeed).estimated infrastructure demands of 23 resource companies for five, ten and twenty year periods, including some 26 projects
shuz, a large part of the SA Govts role is to "do everything necessary to facilitate the need for mining infrastructure", not pay for it. Sure it might help to throw in cash (i'd personally debate that fact), but the SA Govts core role is to "support the achievement and promotion of the safe, enduring and profitable resources industry of South Australia" (quote from www.resourcessa.org.au). It's an advocacy challenge.Shuz wrote:The State Goverment's ability to allocate money towards mining infrastructure is partially inhibited by the availability of funds to do so, as we can only be taxed so much - private and business - without compromising their position of power in Government.
I would hope that the AusLink 2 funding round sees good investment into SA, and alleviate pressure off the State Government to use its own money into increasing its economical output.