Over the past week, ending 12 September, resources companies executed loan facilities or repaid loans, while governments announced further initiatives to boost environmental, skills and training outcomes in line with the mining sector.
The Queensland and Western Australia governments have delivered $115 million from the National Skills Agreement, which will support initiatives improving access to skills and training.
Both the state governments are jointly funding $98.7 million to improve student completions, focused on supporting regional students, disadvantaged students and apprentices along their entire student journey.
As Mining.com.au previously reported, more than 65 million young people are unemployed worldwide, according to data presented at the World Economic Forum.
In Australia alone, the youth unemployment rate increased to 9.6% as of June 2025 – representing more than double the national average of 4.2%, according to data compiled from the Australian Bureau of Statistics (ABS).
Yet, the mining industry is still struggling to appeal to a growing, untapped demographic.
New student support services will be offered alongside outreach to apprentices and students who have not completed their training, to enable them to re-engage with training and transition to employment.
From droughts to floods and invasive species
In addition to support skills and training, the Queensland Government is boosting support for the management of its natural assets, with the first four projects locked in under the Natural Resource Management Expansion Program.
The four projects – worth almost $7 million – will be rolled out across Far North and North West Queensland to support environmental restoration and land management across the region.
Minister for Natural Resources and Mines Dale Last said the funding will deliver practical, lasting benefits while supporting jobs and regional communities.
“Queensland is a land of extremes, from droughts to floods and invasive species,” Last says.
“We delivered a Memorandum of Understanding with NRM Regions Queensland within our first 100 days, and now we’re rolling out these important projects within our first year, because we’re serious about delivering real outcomes for our regions.
“Queensland’s NRM groups are highly experienced at delivering outcomes on the ground, and this program is about scaling that success across more of the state.”
Retiring loans and accelerating Cloncurry
Earlier this week, AuKing Mining (ASX:AKN) executed final security documents with London-based RiverFort Global Capital for a $5 million credit facility, to fast-track exploration and development at the Cloncurry Gold Project in Queensland.
In consideration of this credit facility, AuKing will issue RiverFort 12 million shares.
The three-year facility will have a 10% fixed interest that is required to be paid in cash on maturity. Each drawdown is repayable within 12 months from the date of the drawdown.
An initial $500,000 drawdown will be made, following the completion of due diligence and formal security documents. These funds will be used towards retiring the short-term loan, providing working capital and Cloncurry Project acquisition costs.
AuKing will issue 500,000 convertible securities as part of this initial drawdown.
The Cloncurry Project, covering 447km2, has resource growth potential around historical mining deposits. The project also underpins a gold development opportunity with a clear pathway from acquisition to near-term gold production.
Payments and debt
Graphite and battery anode company Syrah Resources (ASX:SYR) has received an US$11.7 million ($17.67 million) direct payment from the US Internal Revenue Service for its Advanced Manufacturing Production Credit.
The funds, with the approval of the US Department of Energy, may be used to fund operating costs at the Vidalia Active Anode Material Facility, located in Louisiana, US.
Meanwhile, gold producer Austral Gold (ASX:ADG) repaid a US$2 million loan plus accrued interest of US$133,000, provided by Inversiones Financieras del Sur (IFISA).
In September 2024, Austral Gold received the US$2 million loan, which was used for general working capital. The loan had a 7% interest rate per year, with a 24-month term.
The repayment was made through transferring a portion of the loan collateral in Unico Silver (ASX:USL) shares held by Austral Gold’s Canadian subsidiary, at a closing price of $0.48 per share as of 5 September 2025.
Write to Aaliyah Rogan at Mining.com.au
Images: Queensland Government, AuKing Mining, & Syrah Resources
