AMEC announces growth in Australian mining
According to Association of Mining and Exploration Companies (AMEC), mineral exploration figures increased consistently in 2019. In Q4 2019, the total mineral expenses increased by almost 30pc compared with the same prior-year quarter while total mineral exploration expenditure rose by 4.8pc according to AMEC data. However, total mining expenses in Western Australia dropped by $1.9mn to $301.6mn during the year. Warren Pearce, chief executive officer, AMEC said exploration growth in 2019 reflected company strategies to fund further exploration and support stronger growth in the industry.
IGO and Encounter enter into JV
IGO Limited has announced its plans to form a joint venture with Encounter’s copper-cobalt project in Western Australia. Under the agreement, IGO will invest close to $9.9mn in exploration expenditure and will have the right to manage the project. The company will have a 70pc stake in the joint venture with the balance 30pc being held by Encounter. The companies plan to begin exploration activities between Q2 and Q3 2020.
Trevali’s CFO resigns
Trevali has appointed Matthew Quinlan as its interim chief financial officer (CFO) after Gerbrand Van Heerden resigned from the position. Quinlan has supported the company in consulting capacity for the past five months and holds more than 20 years of experience in the industry. Heerden served as the company’s CFO since June 2018 prior to which he was senior vice president- business initiatives and development at the company. He had previously served as CFO of Traveli’s Rosh Pinah mine in Namibia.