Gindalbie Metals Limited (GBG) said it had awarded a $70 million contract for construction of the main camp and accommodation village for the Karara Iron Ore Project to West Australian company Doric Constructions (Australia) Pty Ltd. The company said the contract encompasses design and installation of the construction camp and associated facilities that would house the main construction work force for Karara. Gindalbie said it expects this to be completed progressively in 2010.
Woodside Petroleum Limited (WPL), along with the other Browse Joint Venture participants, have received renewal offers that require them to have selected the Kimberley LNG precinct as a development concept within 120 days. The company said the terms of the renewals stipulate that certain work commitments are to be made to advance the development of the Browse LNG Project. Woodside said the JV is required to undertake a material work program over the next 30 months, committing $1.25 billion to ensure the earliest commercialisation of the Browse resources.
Mantra Resources Limited (MRU) increased its mineral resource estimate (“MRE”) for the company’s Nyota Prospect in Tanzania from 35.9 Mlbs uranium oxide to 44.6 Mlbs. The company said the average grade of the MRE has increased by 11% to 455 ppm uranium oxide. Mantra said 38% of the MRE is now classified as an Indicated Resource. The company added that the current phase of exploration drilling would be concluded in early December and followed by a further MRE update in the March quarter of 2010.
Arrow Energy Limited (AOE) said current activities targeting expansion of the company’s 3P reserves are likely to lead to another substantial upgrade in early 2010 based on the work completed for the six months to 31 December 2009. The company said it had made some excellent progress from the early stages of its planned $300m exploration and appraisal program.