australia's identified mineral resources 2005 - Geoscience Australia
australia's identified mineral resources 2005 - Geoscience Australia
australia's identified mineral resources 2005 - Geoscience Australia
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AUSTRALIA’S IDENTIFIED MINERAL RESOURCES <strong>2005</strong><br />
■<br />
Rox Resources Ltd announced drilling results<br />
from lateritic nickel intersections north of<br />
Heron Resources Ltd lateritic Highway deposit.<br />
Best intersections included 14 m at 0.91% Ni<br />
and 0.17% Co and 15 m at 0.76% Ni and<br />
0.45% Co.<br />
Production<br />
Nickel production decreased in 2004 by 2.6%<br />
to 187 kt, as reported by ABARE, all from<br />
Western <strong>Australia</strong>. Production of intermediate<br />
nickel products (matte and speiss) totalled<br />
106 000 t in 2004 and refined nickel was<br />
122 000 t. The value of all nickel products<br />
exported was $3.3 billion. <strong>Australia</strong> was the<br />
world’s second-largest producer, accounting<br />
for 13.4% of estimated world nickel output.<br />
During 2004, total nickel-in-concentrates<br />
production by WMC Resources Ltd from<br />
Leinster, Mt Keith and third party mines at<br />
Kambalda eased by under 2% from 117 722 t<br />
to 115 774 t, largely due to planned changes<br />
in open pit mining at Mt Keith that were partly<br />
offset by record performances at the Leinster<br />
operations. WMC Resources Ltd is the third<br />
Nickel briquettes at the Kwinana nickel refinery,<br />
Western <strong>Australia</strong> (WMC Resources Ltd).<br />
largest nickel-in-concentrate producer and accounted for 16% of global nickel-in-concentrate<br />
production. Nickel-in-matte production in 2004 from the Kalgoorlie smelter by WMC Resources Ltd<br />
also eased by 1.4% from 99 152 in 2003 to 97 780 t in 2004. Production of nickel metal from the<br />
Kwinana refinery increased by 1.7% from 61 418 t in 2003 to 62 479 t in 2004. This increase was<br />
achieved despite a statutory maintenance shutdown in March 2004 that was followed by a record<br />
output of 17 817 t in the fourth quarter to match the recently expanded annual production capacity<br />
rate of 70 000 t at the Kwinana refinery.<br />
World Ranking<br />
Based on figures published by the USGS and modified to incorporate the <strong>Australia</strong>n <strong>resources</strong><br />
reported here, world EDR of nickel decreased by 1.6% to 61.8 Mt in 2004 (62.8 Mt in 2003).<br />
<strong>Australia</strong>’s share of world EDR was 36.6% in 2004 (up 0.3% from 2003), and it remained the largest<br />
holder of EDR followed by Russia (10.7%), Cuba (9.1%) and Canada (7.8%).<br />
Russia was again the largest producer with 315 kt (22.9%), followed by <strong>Australia</strong> with 187 kt (13.6%)<br />
and Canada with 180 kt (13.1%). The fourth largest producer was Indonesia with 144 kt (10.5%) and<br />
New Caledonia with an output of 122 kt (8.9%).<br />
Industry Developments<br />
ABARE reported that in the first five months of <strong>2005</strong>, world nickel prices averaged US$15 835 a<br />
tonne, 14% higher than the average for 2004. ABARE forecasted that for <strong>2005</strong> as a whole, limited<br />
growth in production is expected to be offset by continued strong increases in demand by China’s<br />
stainless steel sector and that together with historically low and diminishing nickel stocks, high nickel<br />
prices are likely to be sustained.<br />
55<br />
<strong>Australia</strong> has several nickel sulphide mines currently in operation including WMC Resources Ltd’s<br />
Leinster and Mount Keith, LionOre Mining International Ltd’s Black Swan and Emily Ann, Jubilee<br />
Mines NL’s Cosmos and Mincor Resources NL’s Miitel and Wannaway. Production commenced at