FGR granted Government Approvals for Commercial Graphene Facility in WA, Australia

FRG gets receipt of Government Approvals for Commercial Graphene Production Facility

Highlights



• Works Approval has been granted by the Department of Environment Regulation, enabling construction of a graphene production facility at Henderson to commence and be operational in Q4 of 2017.



• FGR will be the first ASX-listed company to attain a commercial graphene production capability.

• The production facility will be funded from existing cash

balances.

• Initial capacity will be in the order of 15 tonnes per annum of saleable graphene, based on a single shift operation, five days per week. Multiple shifts could escalate production rates to globally significant levels in the event suitable sales contracts are negotiated.




Works Approval


First Graphite (ASX: FGR) is pleased to advise it is now moving towards the construction of a commercial graphene production facility, having been granted a Works Approval by

the Department of Environment Regulation (DER) for its facility at Henderson, Western Australia.

The Works Approval results from the submission of an extensive application to the DER. FGR’s independent laboratory testing demonstrated the controls to be used resulted in minimal

emissions with these being significantly below the levels set by the regulations. These approvals also account for the necessary occupational health and safety controls.



Information source



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MRL Heads of Agreement to Pursue Graphene Commercialisation Outcomes

Heads of Agreement (“HoA”) signed with Imagine Intelligent Materials Pty Ltd (“IMAGINE”), an Australian graphene enhanced advanced materials solutions company. 

The agreement will identify commercial applications for MRL’s graphite and graphene. 

Access to graphene testing and characterisation through IMAGINE’s Certification Program

Collaboration with leading Australian universities with whom IMAGINE has existing relationships, for up-scaling of graphene testing and characterisation of graphene products.

Working with IMAGINE’s certified partners and customers pursuing a strategy to access the full spectrum of the graphene value chain through.

Following on from the ASX release of 13 May 2015, in which the Company disclosed that the University of Adelaide had achieved outstanding results on the recovery of graphene from MRL’s highgrade graphite ore, the directors are pleased to announce a significant step in the process to maximise the return on its Sri Lankan Graphite Projects. 

The signing of the HoA between MRL and IMAGINE will give the Company access to a network of advanced manufacturing enterprises and scientific expertise that would not normally be available to a junior mining company. MRL’s graphite projects in Sri Lanka have very high grade vein ore. 

The key challenge in the generation of commercially valuable graphene is the ability to produce consistent and replicable graphene functionalised to meet the requirements of industrial customers. IMAGINE brings knowledge of high volume market applications the understanding of solutions development processes and its own intellectual property. 

The proposed Co-operative agreements between MRL and Imagine are intended to maximise revenue opportunities for both parties through develop premium price graphene solutions for high volume industrial markets.

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Chinese Nickel Imports Jump to 6-Year High as Shortage Looms

Chinese Nickel Imports Jump to 6-Year High as Shortage Looms

China imported the most refined nickel in six years in a further sign that the world’s biggest consumer is drawing on global supply. Futures rose 2.4 percent in London.

Inbound shipments of the metal used to produce stainless steel surged 67 percent to 38,545 tons in June from the previous month, the highest since July 2009, and were more than three times the level a year earlier, Chinese customs data show.

Goldman Sachs Group Inc. and Citigroup Inc. are bullish on prices amid prospects for rising Chinese demand. Macquarie Group Ltd. sees a global shortage which may cut inventories further from a record. Stockpiles in London Metal Exchange sheds have already fallen to the lowest in almost two months. Some imports may have been for delivery against the first nickel contract to expire on the Shanghai bourse, said Celia Wang from Tianjin Zhongwei Group’s investment department.


“Huge imports arrived in China from LME warehouses as traders seek profits by delivering against the first settlement of a Shanghai nickel futures contract,” said Wang, the general manager. “Refined nickel imports are expected to remain at a high level into July.”

The Shanghai Futures Exchange started nickel trading in March and the July contract was the first expiry. The bourse is accepting metal from Moscow-based OAO GMK Norilsk Nickel, the top supplier, for settlement to ease concern about shortages.
Goldman, Citigroup

Prices climbed 2.4 percent to $11,980 a ton in London on Tuesday, the highest level since July 6, before trading at $11,875. Goldman expects rates to increase to $14,000 as the market heads toward a deficit next year, analysts including Yubin Fu wrote in a report dated July 6. Citigroup predicts a 2015 average price of $13,960 and maintains a bullish outlook.

Imports of ferronickel rose more than threefold on year to 62,511 tons, another sign China is seeking foreign supply.

An Indonesian ban on exports of nickel ore at the start of 2014 spurred China to stockpile the material and boost supplies from the Philippines, the only other major source. Inventories of nickel ore in China are now at their lowest since September 2011, according to data from Beijing Custeel E-Commerce Co.

China imported more than 100,000 tons of refined nickel in the first half for the first time since 2009 when buyers took advantage of a slump in demand after the financial crisis.

Buru and Mitsubushi Start Commercial Production at Ungani Oil Field

The cash flow from Ungani marks the next chapter in Buru Energy's growth

Australian oil and gas firm Buru Energy and Japanese Mitsubishi have started commercial oil production at Ungani oilfield in the western parts of the country with the spudding of the Praslin-1 conventional well.

Praslin-1 is located at a 15km from the existing Ungani field and is in the Jackaroo 3D seismic data grid.

Ungani oilfield is a 50:50 joint venture between Buru Energy and Mitsubishi.

Initial production rate for Ungani oilfield is 1,250 barrels of oil per day (bopd). It is expected to be raised to 2,500bopd, and then to a further 3,000bopd within the year.

Buru Energy executive chairman Eric Streitberg said: "The cash flow from Ungani marks the next chapter in Buru Energy's growth.

"Combined with our strong cash position ($41.9m at 30 June 2015), we have the financial strength to fund our aggressive exploration programme and create further growth for shareholders.

"We have the strong support of government and traditional owners for our programmes and an extensive and diverse prospect portfolio to drill. This is a privileged position for a company of our size."

Facilities at the field have been upgraded, which are expected to boost its operations and productions while reduce its costs.

Buru and Mitsubishi intend to expand its hydrocarbon reserves through further explorations near the Ungani field.

The owners have signed a contract with Fuel Trans for cost-effective transportation of oil to the port of Wyndham

New Engelhard Australia Silver Bullion Bars

Engelhard Australia is back! This historic brand is once again producing investment bullion bars. Engelhard silver bars are attractively cast with the modern Engelhard Australia logo on the front, and the weight and fineness on the back.

Every bar is Every bar is serialised and individually boxed in a protective cardboard shipper for protection.

These bars are available in 5oz & 10oz

See more about Engelhard Australia Silver Bars

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Pacfico Minerals Surges on Copper Hits

Core from Coppermine Creek

Three holes drilled at the Coppermine Creek prospect intersected significant intervals of disseminated chalcopyrite and bands of semi-massive chalcopyrite.

One of the holes returned veins and disseminated chalcopyrite from 38-67m, with the interval from 67-73m corresponding to the Gordons Fault and containing bands of semi-massive chalcopyrite, as well as chalcopyrite fracture fill and disseminations.

The company said the chalcopyrite was associated with only minor pyrite and returned values of more than 25% using a hand-held XRF over widths of up to 30cm.

Assays are expected within a fortnight.

Airborne electromagnetics indicate a 3km by 1km alteration and mineralisation system extending away from the Gordons Fault to the southwest, with further drilling planned to test it.

Pacifico has also started drilling the Bing Bong prospect with the assistance of a NT government grant.

Borroloola West was one of the projects Sandfire floated on in 2004 but the company farmed it out to Pacifico in 2013.

Pacifico expects to earn 51% of the project by the end of the year by spending $A1.5 million under the first phase of the agreement.

The company can earn an additional 19% by spending a further $2.5 million and can get to 80% by sole-funding a bankable feasibility study or spending another $3 million.

Shares in Pacifico jumped 130% to 3.2c, while Sandfire shares gained 1.4% to $5.71

China's Revenge Serves Body Blows to BHP and Rio

China's revenge serves body blows to BHP and Rio

It's taken six years, but China is slowly turning the tables on the heavyweight iron ore miners.

In 2009, iron ore giants BHP Billiton and Rio Tinto decided they wanted to take advantage of China's soaring demand for iron ore, which was pushing prices ever higher. So they ditched the 40-year old system of setting annual contract prices in favour of using spot pricing for the majority of their iron ore shipped to China from 2010.

Needless to say, China's steel mills weren't very happy about that. BHP's previous CEO Marius Kloppers is widely acknowledged as the man most responsible for bringing about the change. With BHP and Rio filling a huge amount of China's demand, the steelmakers had little choice but to acquiesce. 

The changes, and China's thirst for iron ore, saw the iron ore price soar as high as US$191 per tonne in February 2011, from around US$60 per tonne in 2008. Rio Tinto produced record underlying earnings of US$15.5 billion in the 2011 financial year, with iron ore contributing US$12.9 billion. BHP, for its part, saw net profit rise 74 per cent to US$21.7 billion as revenues rose 36 per cent.

China may also still be sore over aluminium giant Chinalco's aborted US$19.5 billion investment in Rio Tinto back in 2010, which was aimed at gaining resource security. At the time, reports suggest Chinese officials feared that China was too vulnerable to both Rio and BHP, even separately. Rio's board canned the deal, and announced that it was instead forming an iron ore joint venture with BHP. That deal never went ahead – much to the relief of China.

The giant (re)awakens

But China has never forgotten, and appears unlikely to forgive. Now the sleeping giant has awakened, and looks set to turn the tables on Rio and BHP.

Firstly, China needed to loosen its dependence on the two Australian iron ore miners, so it has turned to Brazil's Vale. For many years Vale was snubbed by the Chinese. The iron ore giant had built a number of very large ore carriers to ship ore to China, but they have been banned from docking at Chinese ports since 2012.

Now, China hasn't just removed the restrictions but Vale has also sold 4 of the ore carriers to two of China's biggest shipping companies. Each carrier can transport up to 400,000 tonnes of iron ore, and could reduce Vale's production costs by as much as 25 per cent, according to some estimates. That would bring Vale's landed costs around the same as BHP and Rio's.

Vale also has a 25-year shipping agreement with China Cosco to transport iron ore from Brazil to China. China has gone another step further too, loaning Vale US$4 billion to help fund a US$16.5 billion project, known as S11D.

S11D is expected to produce 90 million tonnes of very high quality iron ore each year, taking Vale's production to 450 million tonnes of iron ore within the next few years.

In two moves, China has decreased its dependence on BHP and Rio, loosening their control over the iron ore market, and thanks to the increase supply of iron ore, achieved lower prices.

One last dance? 

Fairfax Media reports today that Chinese-linked companies have applied to the Foreign Investment Review Board seeking permission for an investment with Australia's self-styled 'new force in iron ore' Fortescue Metals Group.

Fortescue, with its US$7.7 billion in net debt, could strengthen its balance sheet with a capital injection, either to pay down debt in return for an equity stake, or refinance existing debt at lower rates. The miner recently issued US$2.3 billion in senior secured notes, but is paying a whopping 9.75 pe cent interest rate, at a time when interest rates around the world are at record low levels.

Fortescue could struggle to repay its debt load if iron ore prices continue to trade at or under US$60 per tonne, with some estimates putting the miner's breakeven price around US$70 per tonne. The company may well be amenable to a deal with the Chinese, particularly after the recent kerfuffle over the iron ore inquiry that was going ahead, but was cancelled.