Australia’s Independence chases more nickel with $216m bid

The miner is reviewing all options on its 53.83% stake in Bougainville Copper, the operator of its Paguna mine, which has a potential gold and copper resource worth over $60 billion.

Looking for partners for $3 billion project in South Australia forecast to produced 114,000 tonnes of copper and 117,000 ounces of gold a year.

Production up and costs down, but asset impairment at Papua New Guinea mine results in $2.2 billion statutory loss for Australian gold miner.

Speculation is of a new Perth-based company with current CFO Graham Kerr at the helm housing non-core assets including Australian lead-silver mine.

The proposed mine straddles the West Australian and Northern Territory border on the Browns Range Dome and is expected to produce 279,000 kg of dysprosium a year over its 10-year mine life.

Adani now only needs to get the federal government green light on the same railway to have all required permits in place.

Double bottom over June and July a strong bullish signal.

Compares with a near doubling of mining, exploration and services positions in the country over the previous five years.

Decision to to lob off Billiton assets could come as early as next week.