Quick fire – industry news briefs

News updates on Clough, Genex Power, Revolver Resources, EQ Resources and more … Construction activities have recommenced on the Main Access Tunnel (MAT) underground excavation works at the Kidston Pumped Storage Hydro Project (K2-Hydro) in North Queensland. An unexpected inflow of water pulled up tunnelling work back in September at the Genex Power project. Genex said the restart came after completion of final construction designs, including for a new “Y-junction” for the new MAT alignment to extend from the existing MAT excavation. "Critical path underground excavation activities have been progressing on Construction Adit 1, and now that construction activities on the MAT have recommenced Genex will work closely with the EPC contractor to ensure the tunnelling works progress as quickly and safely as possible over the coming month," the company stated. Major engineering and construction group Clough and its Australian subsidiaries have gone into voluntary administration. It follows the termination of a recently announced sale purchase agreement between Murray & Roberts and Webuild for the acquisition of Clough. Clough’s directors have appointed Sal Algeri, Jason Tracy, David Orr and Glen Kanevsky of Deloitte as administrators. A development application to build a new boutique hotel at 68 and 69 The Strand has been approved by Townsville City Council. The S & S Group development includes 80 hotel rooms and a restaurant and function centre, and is set to create 120 construction jobs and 100 on-going jobs. The proposal assessment was conducted by the council’s planning officers under the Townsville City Plan and recommended for approval with 30 conditions. Council’s chief executive officer Prins Ralston adopted the planning officer’s recommendation and has approved the development after the decision was referred by councillors due to conflicts of interest. Greenvale Mining has officially changed its name to Greenvale Energy. After shareholder approval at the company’s Annual General Meeting on November 25 the name change has been processed by the Australian Securities and Investment Commission (ASIC) and took effect on November 30. Revolver Resources has appointed Dr Bryce Healy to direct the company’s ongoing operations at its Dianne and Osprey projects in north Queensland.An experienced structural and economic geologist, Dr Healy’s 20-plus year career has spanned a number of senior mining executive positions. Revolver managing director Pat Williams said Dr Healy would be invaluable in driving the company’s growth.“Dr Healy is a seasoned geologist and mining executive with wide experience spanning many facets of the resources industry across Australia including the Hodgkinson and NorthWest Minerals provinces where our projects are located,” Mr Williams said. Australian gold production declined by seven tonnes in the third quarter of 2022 according to Melbourne-based gold mining consultants Surbiton Associates. Output for the September 2022 quarter totalled 76 tonnes, down 9 per cent from the high of 83 tonnes produced in the June 2022 quarter. It brings total Australian gold mine production to 235 tonnes for the first nine months of 2022. “Gold production in the September quarter was somewhat disappointing, with fewer tonnes treated and lower recovered grades but the Australian gold sector remains in good shape, longer term,” Surbiton Associates director Dr Sandra Close said. “Some wet weather and COVID-19 problems affected output adversely but fortunately, these effects seem to be slowly receding and the rise in production costs seems to be starting to abate.” EQ Resources has received its first drawdown equating to 30 per cent of the awarded $6 million grant from the Federal Government’s Critical Minerals Accelerator Initiative. The company said the funding would be used to implement the scope defined in the company’s bankable feasibility study for a large-scale, sustainable source of tungsten based on historical mine waste and high-grade resources. "Specifically, it will be used to fund plant and equipment, drilling and additional studies, as well as expand on innovative technologies to efficiently produce tungsten concentrate from relatively low-grade ore currently stockpiled above ground and from high-grade resources identified in the Andrew White open pPit set to recommence in 2023."

Quick fire – industry news briefs

Industry Queensland

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