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FIFO program delivers $93m boost to South West

Rio Tinto's fly-in fly-out program continues to deliver significant economic benefits for regional towns in WA through stable employment and higher spending on goods and services with local businesses. In 2018, $93.1 million was contributed to the South West as a result of the program, which was reported as the largest economic impact, accounting for 47 per cent of Rio Tinto's total regional economic spend. Research also highlighted an increase in regional jobs as a result of higher spending in the regions. The flow-on effect of this saw 601 jobs supported in the South West for the year. According to a report by ACIL Allen Consulting, Rio Tinto's regional FIFO program delivered an estimated economic contribution of $199.4 million to regional towns outside of the Pilbara and Perth last year, an increase of $14.7 million since the previous report in 2016. A growing regional workforce of more than 2,230 delivered an increase in spending in regional WA to $547.9 million in 2..

Rio Tinto's fly-in fly-out program continues to deliver significant economic benefits for regional towns in WA through stable employment and higher spending on goods and services with local businesses. In 2018, $93.1 million was contributed to the South West as a result of the program, which was reported as the largest economic impact, accounting for 47 per cent of Rio Tinto's total regional economic spend. Research also highlighted an increase in regional jobs as a result of higher spending in the regions. The flow-on effect of this saw 601 jobs supported in the South West for the year. According to a report by ACIL Allen Consulting, Rio Tinto's regional FIFO program delivered an estimated economic contribution of $199.4 million to regional towns outside of the Pilbara and Perth last year, an increase of $14.7 million since the previous report in 2016. A growing regional workforce of more than 2,230 delivered an increase in spending in regional WA to $547.9 million in 2018, which was made up of purchases from vendors, credit card payments, airport charges, community investments and wages. The economic contribution of the company's regional FIFO program and regional spending by Rio Tinto also supported an additional 1,269 local jobs in regional WA. The report estimated that for every three regional FIFO workers, one additional job in the regional economy was supported. Rio Tinto's regional FIFO program provides direct charters from seven regional towns – Broome, Busselton, Carnarvon, Exmouth, Derby, Geraldton and Albany – to eight of the company's mining operations in the Pilbara. Rio Tinto Iron Ore chief executive Chris Salisbury said their FIFO program continued to deliver for regional economies in WA by providing jobs, supporting businesses through spending on goods and services, and by supporting local community groups. "We are proud to be contributing to these increasingly vibrant regional communities by helping to share the employment and economic benefits of Rio Tinto's world-class iron ore operations in the Pilbara across the state," he said. Each year Rio Tinto engaged with many partners in activities and programs to deliver real and lasting benefits to communities around WA. In a report, Rio Tinto's annual review of community investment programs, Celebrating WA Communities, noted the company's contribution of $19.7 million to more than 163 community programs across the state last year, and a further $4.2 million of in-kind support. Highlights from 2018 included the arrival of the first Pilatus PC-24 Rio Tinto Life Flight Jets – made possible through Rio Tinto's commitment of $10 million over four years to the Royal Flying Doctor Service. More recently, the company's partnership with the WA Government and South Metropolitan TAFE successfully delivered Australia's first nationally recognised qualifications in automation. Rio Tinto's $120,000 three year partnership with the Busselton Chamber of Commerce and Industry supported more than 1,500 volunteers at the Busselton Ironman. In 2018, four local governments including the City of Busselton were provided with $65,000 to support a youth development officer. Their role is to develop inclusive activities to engage youth through school holiday programs and weekend events that provide life skills and leadership development and support networks in the community. BCCI chief executive officer Jodie Richards said Rio Tinto had such a strong focus on community involvement, "Rio do not just take people out of a town to go work on mine sites, they actually give back to the community," she said. "FIFO has the potential to cause social issues in a community with one parent being away, children are left with the other parent, who effectively becomes a single parent. "There are a lot of implications which come with that, Rio Tinto really take care of their workers. "They contribute not only to the economy by the employment aspect, but also encouraged youth involvement, traineeships, apprenticeships and training people for the future. "When people are going away and earning good money they are coming back to the regions and spending it here and that is really important. "They are also big supporters of the Chamber of Commerce, which allows us to be able to support businesses as well." Ms Richards said often the other parent in a FIFO family worked due to the cost of living, and often they worked in small businesses or started their own business. "The FIFO workforce and small business are very closely related," she said.

Rio Tinto's fly-in fly-out program continues to deliver significant economic benefits for regional towns in WA through stable employment and higher spending on goods and services with local businesses.

In 2018, $93.1 million was contributed to the South West as a result of the program, which was reported as the largest economic impact, accounting for 47 per cent of Rio Tinto's total regional economic spend.

Research also highlighted an increase in regional jobs as a result of higher spending in the regions. The flow-on effect of this saw 601 jobs supported in the South West for the year.

According to a report by ACIL Allen Consulting, Rio Tinto's regional FIFO program delivered an estimated economic contribution of $199.4 million to regional towns outside of the Pilbara and Perth last year, an increase of $14.7 million since the previous report in 2016.

A growing regional workforce of more than 2,230 delivered an increase in spending in regional WA to $547.9 million in 2018, which was made up of purchases from vendors, credit card payments, airport charges, community investments and wages.

The economic contribution of the company's regional FIFO program and regional spending by Rio Tinto also supported an additional 1,269 local jobs in regional WA.

The report estimated that for every three regional FIFO workers, one additional job in the regional economy was supported.

Rio Tinto's regional FIFO program provides direct charters from seven regional towns – Broome, Busselton, Carnarvon, Exmouth, Derby, Geraldton and Albany – to eight of the company's mining operations in the Pilbara.

Rio Tinto Iron Ore chief executive Chris Salisbury said their FIFO program continued to deliver for regional economies in WA by providing jobs, supporting businesses through spending on goods and services, and by supporting local community groups.

"We are proud to be contributing to these increasingly vibrant regional communities by helping to share the employment and economic benefits of Rio Tinto'Read More – Source

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Archer Materials concludes sale of non-core Leigh Creek Magnesite Project for $2.89 million

Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has completed the sale of its Leigh Creek Magnesite Project for a total consideration of $2.89 million which includes a cash payment of $250,000 and shares worth $2.64 million in Volatus Capital Corp (CNSX:VC).

Strategy to monetise non-core assets[hhmc]
Archer executive chairman Greg English said: “The sale of the Project is part of our strategy of monetising our exploration and other non-core assets, and so far we have received approximately $12.0 million from the sale of these non-core assets.

“We look forward to continuing to work with Volatus management and providing the assistance required to maximise the value of the Project and the Consideration Shares.”

Focus on materials technology business[hhmc]
Archer shares recently surged on a technological breakthrough with the building of quantum devices required for initial qubit control measurements.

Read More – Source

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Archer Materials Ltd (ASX:AXE) (OTCMKTS:ARRXF) (FRA:38A) has completed the sale of its Leigh Creek Magnesite Project for a total consideration of $2.89 million which includes a cash payment of $250,000 and shares worth $2.64 million in Volatus Capital Corp (CNSX:VC).

Strategy to monetise non-core assets


Archer executive chairman Greg English said: “The sale of the Project is part of our strategy of monetising our exploration and other non-core assets, and so far we have received approximately $12.0 million from the sale of these non-core assets.

“We look forward to continuing to work with Volatus management and providing the assistance required to maximise the value of the Project and the Consideration Shares.”

Focus on materials technology business


Archer shares recently surged on a technological breakthrough with the building of quantum devices required for initial qubit control measurements.

Read More – Source

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TNT Mines expands footprint at East Canyon Uranium-Vanadium Project in Utah

TNT Mines Ltd (ASX:TIN) has staked additional claims to increase its landholding along strike of the known high-grade mineralised trend at its East Canyon Uranium-Vanadium Project in Utah, US.

The 31 additional contiguous lode claims will expand TNTs landholding at East Canyon to around 18.7 square kilometres.

As a result, the interpreted mineralised uranium and vanadium strike trend of the company will be extended by over one kilometre at both the None Such and Bonanza prospects respectively.

Increased landholding to complement recent sampling success[hhmc]
TNTs move to stake the additional claims will complement the success of recent exploration work carried out at None Such and Bonanza.

Recently completed sampling program showed high-grade mineralisation exists in multiple underground workings with vertical face samples of up to 1.25 metres at 0.26% uranium and 0.6 metres at 0.34% uranium.

Laboratory results of five samples from the 2020 program are expected soon.

Multiple hig..

TNT Mines Ltd (ASX:TIN) has staked additional claims to increase its landholding along strike of the known high-grade mineralised trend at its East Canyon Uranium-Vanadium Project in Utah, US.

The 31 additional contiguous lode claims will expand TNTs landholding at East Canyon to around 18.7 square kilometres.

As a result, the interpreted mineralised uranium and vanadium strike trend of the company will be extended by over one kilometre at both the None Such and Bonanza prospects respectively.

Increased landholding to complement recent sampling success


TNTs move to stake the additional claims will complement the success of recent exploration work carried out at None Such and Bonanza.

Recently completed sampling program showed high-grade mineralisation exists in multiple underground workings with vertical face samples of up to 1.25 metres at 0.26% uranium and 0.6 metres at 0.34% uranium.

Laboratory results of five samples from the 2020 program are expected soon.

Multiple highly prospective targets


Besides None Such and Bonanza, multiple other highly prospective targetRead More – Source

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Matador Mining aims to maximise value of Cape Ray Gold Project

Matador Mining Ltd (ASX:MZZ) executive chairman Ian Murray believes activities in recent months have been critical in positioning the company to maximise the value of its Cape Ray Gold Project in Canada.

He said: “Completion of a share placement to raise more than $8 million, together with the appointments of highly regarded gold industry professionals Justin Osborne and Mick Wilkes, has put the company on a sound footing as we embark on an extensive 12,000-metre greenfield and brownfield exploration program.”

Immediately after the quarter ended on June 30, the company issued 21.4 million shares at a price of 4.05 cents per share (a 44.5 % premium to the 15-day VWAP) to raise the funds.

Board restructure[hhmc]
Murray was previously Managing Director of Gold Road Resources Ltd (ASX:GOR) where he served for over 10 years and was instrumental in taking Gold Road from early exploration through to the fully funded 8.2 million tonnes per annum Gruyere Gold Project, which is forecast to pr..

Matador Mining Ltd (ASX:MZZ) executive chairman Ian Murray believes activities in recent months have been critical in positioning the company to maximise the value of its Cape Ray Gold Project in Canada.

He said: “Completion of a share placement to raise more than $8 million, together with the appointments of highly regarded gold industry professionals Justin Osborne and Mick Wilkes, has put the company on a sound footing as we embark on an extensive 12,000-metre greenfield and brownfield exploration program.”

Immediately after the quarter ended on June 30, the company issued 21.4 million shares at a price of 4.05 cents per share (a 44.5 % premium to the 15-day VWAP) to raise the funds.

Board restructure


Murray was previously Managing Director of Gold Road Resources Ltd (ASX:GOR) where he served for over 10 years and was instrumental in taking Gold Road from early exploration through to the fully funded 8.2 million tonnes per annum Gruyere Gold Project, which is forecast to produce around 300,000 ounces per year in a joint venture with Gold Fields Limited (NYSE:GFI).

Non-executive director Justin Osborne is noted within the mining industry as a gold specialist, highlighted by his key role in the discovery and development of the newly operating tier-one Gruyere Gold Mine in Western Australia with Gold Road.

Non-executive director Mick Wilkes served as President and CEO of OceanaGold Corp (ASX:OGC) for a decade, growing the company from a junior producer into a multinational mid-tier gold producer with four operations across three countries.

Successful scoping study


The scoping study for Cape Ray was based on a proposed 1.2 million tonnes per annum standalone mining and processing operation, demonstrating positive financial metrics over a possible initial mine life of 7 years with capital payback within the first 1.75 years of the Projects life.

The payback period decreases to 1.5 years based at a gold price of US$1,700.

The study also showed:

  • An after-tax IRR of 51% and NPV8 of A$194 million (based on a US$1,550/ounce gold price); and
  • A rapid aftertax payback of 1.75 years decreasing to less than 1.50 years at a US$1,700 gold price.

The key driver for these robust returns is the high-grade open pit ore that is proposed to be mined and processed during the first two years (average 2.72 g/t) and first four years (average 2.5 g/t) of production.

The Cape Ray shear and the major holders

Extensive exploration planned


The primary objective for the company is to expand the resource base and extend the life-of-mine, with a focus on shallow open pit deposits that support the companys overall objective for the Project to be one of the highest grade open pit operations in the world.

After the end of the quarter, Matador set out its exploration strategy to grow the resource base through brownfields expansion and new greenfield discoveries to a size that would support a 10-year gold mining operation.

Mobilisation of two drill rigs to site has been completed and a 12,000-metre drilling campaign targeting resource expansion and greenfield prospects will commence in early August 2020.

The first drill target is at Window Glass Hill where a minimum of 3,000 metres is planned, focused on extensions to the existing mineral resource.

A second main brownfield target is at Isle aux Morts, where around 2,000 metres of drilling will focus on resource extensioRead More – Source

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