ASX-listed Impact Minerals on Tuesday announced a ‘transformational’ acquisition, acquiring an 80% interest in the Lake Hope high purity alumina (HPA) project, in Western Australia. Under the terms of the agreement with unlisted Playa One, Impact would earn an interest in the company in stages, with the first A$25 000 cash payment payable for a six-week option to complete a due diligence.
Nickel miner Panoramic Resources has extended the mine-life at its Savannah project, in Western Australia. Referencing a recently released life-of-mine update, Panoramic MD Victor Rajasooriar told delegates of Paydirt’s Battery Minerals conference, in Perth, that the project now had a minimum mine-life of 12 years.
Nickel miner Mincor Resources has urged shareholders not take any action in relation to an on-market takeover from shareholder Wyloo Metals. Wyloo currently holds a 19.9% interest in Mincor, and has offered A$1.40 in cash for every Mincor share not already owned by the company, valuing the takeover target at some A$760-million on a fully diluted basis.
Battery minerals major IGO is investigating the potential downstream processing of nickel to produce a cathode precursor product. Speaking at the Paydirt Battery Minerals conference, in Perth, IGO CFO Kath Bozanic said that the downstream processing option was in line with the company’s desire to be a vertically integrated business.
The federal government is hoping to deliver its new Critical Minerals Strategy in the first half of this year, Resources Minister Madeleine King told delegates at the first day of the Paydirt Battery Minerals Conference. It is envisioned that the Strategy would focus on the government’s vision to grow the critical minerals sector and ensure that the benefits are captured by all Australians.
