It sounds insane to Melbourne-based folks (or ought to I say trapped?), however the annual Diggers and Sellers convention in on this week in Kalgoorlie, Western Australia. Mining trade movers and shakers have truly been assembly inside venues, listening to shows, taking buses to mines, and having meals collectively.
This morning Fortescue Mining Group chief govt, Elizabeth Features, gave a presentation. She confirmed the corporate count on to ship between 175 million tonne and 180 million tonne of iron ore in 2020-21. Prices are anticipated to be between $US13 and $US13.50 per moist metric tonne. Fortescue share are down 1.1 per to $16.67 in the present day.
On Monday the brand new couple, Northern Star and Saracen, gave a joint presentation. The steerage for his or her collectively owned operation, the Kalgoorlie Tremendous Pit is for 15 years of manufacturing.
They count on to supply between 440 and 480 thousand ounces from the pit at a value of between $1,470 and $1,570 per ounce within the present fiscal yr. Gold is at the moment promoting for about $2,600 per ounce. Nonetheless, manufacturing will improve to greater than 675 thousand ounces per yr by 2028.
Saracen Minerals shares are up 0.9 per cent to $6.02 and Northern Star shares are down 0.3 per cent to $15.98. The 2 corporations introduced a merger final week that can see them type a $16 billion international gold miner.