Chalice extends Julimar exploration, New Hope receives grants and Incitec Pivot appoints CEO of fertilisers business

Chalice Mining (ASX: CHN) has issued an update on its exploration activities at the Julimar nickel-copper-platinum group elements (PGE) project in Western Australia, confirming an extension will take place after a recent breakthrough.

The mining company said it is “considering securing a strategic minority joint venture partner to assist in developing a potential mine at Gonneville”.

Chalice is weighing up its options in an effort to help extend its exploration activities at the project, which is much larger than first anticipated.

It said the passing of the US Inflation Reduction Act (IRA) bill has driven interest in the operations to new heights.

“The complex is a very large mineralised system, which Chalice believes is capable of hosting multiple discrete nickel-copper-PGE deposits, as evidenced by multiple sulphide drill intersections in wide-spaced drilling to date over around a 10km of strike length,” it said.

Chalice said efforts will continue across the 30km long Julimar Complex, as four diamond drill rigs continue drilling across the 10km long Hartog-Baudin strike length and two rigs continue resource definition drilling at the Gonneville nickel-copper-cobalt-gold-PGE deposit.

The miner recently made an important breakthrough, with the northern extension of the Gonneville intrusion interpreted at depth in an effective 2D seismic survey.

Syrah Resources

Syrah Resources’ (ASX: SYR) share price reached a more than four-year high this week, after the company released multiple announcements, including plans to look into supplying key lithium-ion battery component to South Korea’s LG Energy Solution.

Syrah confirmed both parties are working on finalising a binding offtake agreement which will see it supply 2,000 tonnes per annum of graphite active anode material from 2025 and increase it to 10,000tpa after production capacity expands to 45,000tpa at the company’s Vidalia facility in Louisiana, United States.

Graphite anodes have increasingly risen in demand as a key component to produce electric vehicles, as the global push towards cleaner transportation and fuel continues.

In another announcement this week, Syrah confirmed it has been selected by the US Department of Energy for a grant of up to $220 million, which will be used to finance the potential expansion of its Vidalia facility.

The grant was received as part of US President Joe Biden’s efforts to boost US production of electric vehicle batteries and components.

New Hope Corp

New Hope Corp (ASX: NHC) has announced the Queensland Department of Regional Development, Manufacturing and Water has granted the final approvals for operations at its Southern Queensland coal mine, New Acland, to recommence within coming months.

The project has been stuck in legal challenges for more than 10 years, as New Hope tried to expand the mine’s production without much success. Mining halted back in November 2021 as coal reserves were exhausted.

Despite the approvals being granted, the department has urged there is precautionary measures in place, imposing 35 conditions on the licence including managing the impacts on aquifers and implementing monitoring programs.

“The department considered matters such as public submissions, potential impacts to existing water users … before granting the associated water licence with strict conditions,” it said.

The mine’s general manager David O’Dwyer said it is a positive outcome for all workers involved.

“They’re all really excited. We’ve been waiting a long time,” he said.

However, Oakey Coal Action Alliance secretary Paul King said he is disappointed with the decision, as it will continue to impact neighbouring farmers.

“It’s the final step that New Acland need, but we don’t believe that they deserve it,” he said.

New Hope Group urged any future objections from the Alliance, which seem likely, will be exclusively between objectors and the state government.

Woodside

Leading energy company Woodside (ASX: WDS) has declared it doesn’t intend on extending the company’s multimillion-dollar sponsorship of the Fremantle Dockers beyond the 2023 season after popular figures called for the club to sever ties with the giant.

Seveeral notable figures, including inaugural football manager Gerard McNeill, ex-player Dale Kickett and former WA premier Carmen Lawrence plead their case suggesting that a fossil fuel company should no longer sponsor the football club, as the world tackles climate change.

Woodside chief executive officer Meg O’Neil said the long-standing relationship is more than just a logo on a jumper.

“Our relationship is beyond the on-field sponsorship that you see on the jerseys week in, week out. We work very closely together on a number of areas where we have shared values,” she said.

“So, things like the Indigenous program, we’ve been their partner, we’ve supported them in development of their RAP , for example. So, we’re very proud to be part of the diverse communities where we live and work.”

Ms O’Neil believes that despite the concerns, “many Dockers fans and members are very proud that Woodside is one of the principal sponsors”.

Incitec Pivot

Incitec Pivot (ASX: IPL) has announced it has called on former AGL Energy (ASX: AGL) chief customer officer Christine Corbett to be the chief executive officer of the company’s proposed fertilisers business, which will be spun off in 2023.

Ms Corbett will take charge of the fertilisers business from 9 January, with the demerger taking place from the explosives business.

Incitec Pivot chairman Brian Kruger said Ms Corbett was well equipped for the role, highlighting her experience leading customer-facing companies with complex supply chains, in roles such as interim managing director and chief executive officer of Australia Post.

Ms Corbett first joined AGL Energy in September 2019 as chief customer officer, before being announced as managing director and chief executive officer-elect of AGL Australia in June 2021.

Plans to become chief executive officer were not possible however, as the demerger failed when famous shareholder Mike Cannon-Brookes was successful in denying the plan.