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☆ Western Australia to overturn 2021 Aboriginal heritage protection laws
▼ + stars: | 2023-08-08 | by ( Melanie Burton | ) www.reuters.com time to read: +1 min

Aboriginal groups' members take part in a protest against what they say is a lack of detail and consultation on new heritage protection laws, after the Rio Tinto mining group destroyed ancient rock shelters for an iron ore mine last year, in Perth, Australia August 19, 2021. Courtesy Gabrielle Timmins/Kimberley Land Council/Handout via... Read moreMELBOURNE, Aug 8 (Reuters) - Western Australia will overturn its 2021 Aboriginal cultural heritage protection laws, set out after the destruction of the 46,000-year-old Juukan Gorge rock shelter after community uproar, the state's premier said on Tuesday. Instead, the state government will restore and amend 1972 legislation to ensure the protection of important sites, Cook said. "These are simple and effective amendments that will prevent another Juukan Gorge from happening," he said. Reporting by Melanie Burton; Editing by Kim Coghill, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Gabrielle Timmins, Read, Rio, Cook, Melanie Burton, Kim Coghill, Robert Birsel Organizations: Kimberley Land, ., Rio Tinto, Thomson Locations: Rio Tinto, Perth, Australia, Kimberley, MELBOURNE, Western Australia, . Farmers

☆ Major global firms warn of slow China sales as post-pandemic surge fades
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: +4 min

Aug 2 (Reuters) - From consumer goods giant Unilever (ULVR.L) to automaker Nissan (7201.T) and machinery maker Caterpillar (CAT.N), global firms have warned of slowing earnings in China as the world's second-largest economy loses its post-pandemic bounce. A continued rebound has been limited to a handful of sectors such as dining and luxury goods, driving double-digit China sales growth for the likes of Starbucks (SBUX.O) and LVMH (LVMH.PA). Volkswagen (VOWG_p.DE) cut its full-year sales target last week due to a sales dip in China, its top market. "Unfortunately, our (China) sales outlook is now falling far below our production capacity," Nissan CEO Makoto Uchida said last week. "We mentioned during our last earnings call that we expected sales in China to be below the typical 5% to 10% of our enterprise sales.

Persons: Graeme Pitkethly, we're, Makoto Uchida, Jim Umpleby, Jacob Stausholm, Louis Vuitton, Tiffany, Jean, Jacques Guiony, Mimosa Spencer, Sophie Yu, Brenda Goh, Richa Naidu, Melanie Burton, Daniel Leussink, Victoria Waldersee, Miranda Murray, Rishav Chatterjee, Deborah Sophia, Ananya Mariam Rajesh, Yuvraj Malik, Miyoung Kim, Christopher Cushing Organizations: Unilever, Nissan, Caterpillar, Starbucks, Procter, Gamble, L'Oreal, Global, Volkswagen, Samsung, SK Hynix, Apple, Rio Tinto, Tinto, Yum, HK, KFC, Kailyn, Thomson Locations: China, KS, Rio, Yum China, Kailyn Rhone, New York, Paris, Beijing, Shanghai, London, Melbourne, Tokyo, Victoria, Berlin, Bengaluru

REUTERS/Steve Marcus/File photoAug 2 (Reuters) - Refining rare earths for the green energy transition is hard. "The (rare earths) commissioning process is painstaking, with stops and starts," Jim Litinsky, MP's CEO and largest shareholder, told investors in May. Rare earths magnets turn power into motion and are the essential components in an electric vehicle's motor. Rare earths refining "is not really being addressed even by those who are developing magnet capacity," said Ryan Castilloux, a minerals consultant at Adamas Intelligence. American Rare Earths is working with U.S. government scientists at the Lawrence Livermore Laboratory to develop bacteria that could process rare earths.

Persons: Steve Marcus, Lockheed Martin's, Lynas, Jim Litinsky, Kray Luxbacker, they've, Allan Walton, Ryan Castilloux, Castilloux, refines, Dysprosium, Tesla, Melissa Sanderson, Nathan Picarsic, Ernest Scheyder, Eric Onstad, Nick Carey, Melanie Burton, Veronica Brown, Susan Heavey Organizations: REUTERS, Lockheed, International Energy Agency, General Motors, University of, University of Birmingham, Adamas Intelligence, Trump, Reuters, Pentagon, Blue, Benchmark Mineral Intelligence, Edge, Sweden's, U.S, Lawrence Livermore Laboratory, Horizon Advisory, Thomson Locations: Pass , California, U.S, China, Apple's, Beijing, Texas, Western Australia, COVID, California, Myanmar, Vietnam, Malaysia, Australia, Kuala Lumpur, United States, San Antonio , Texas, Sweden, South Africa, Karr

☆ Albemarle to take 5% stake in Patriot Battery Minerals for Canada lithium
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

Albemarle, the world's biggest lithium producer, is acquiring the stake in Patriot just as the Canadian company estimated its Corvette resource as the biggest hardrock lithium deposit in the Americas. Patriot also agreed to study with Albemarle the viability of a downstream lithium hydroxide plant integrated with its Corvette deposit. The battery metals miner on Monday announced the first mineral resource estimate for spodumene pegmatite at Corvette, which showed deposits of 109.2 million tonnes of lithium oxide. Albemarle will subscribe to about 7.1 million Patriot shares for C$15.29 apiece, a near 7% premium to the stock's July 31 closing price on the TSX Venture Exchange. Patriot's Australia-listed shares jumped as much as 20.7% to A$1.823 by 0053 GMT, posting their biggest intraday percentage gain since March 28.

Persons: pegmatite, Reg Spencer, Blair Way, Echha Jain, Melanie Burton, Subhranshu Sahu Organizations: Battery Metals, Albemarle, Canadian, Monday, TSX Venture Exchange, Patriot, Patriot's, Thomson Locations: Australia, Canada, Albemarle, Americas, Genuity, Patriot's Australia, Bengaluru, Melbourne

☆ Rio Tinto cuts dividend as H1 profit falls to lowest in three years
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, July 26 (Reuters) - Rio Tinto's (RIO.L), (RIO.AX) first-half underlying earnings fell to their lowest in three years as easing iron ore prices offset an uptick in shipments from its Pilbara operations, it said on Wednesday, while also announcing a dividend cut. Rio, the world's biggest iron ore producer, was cautiously optimistic on China's economy over the rest of the year, CEO Jacob Stausholm said. Average realised prices for Pilbara iron ore slipped to $98.60 per wet metric ton in the first half, 11.1% below last year. The world's largest iron ore producer flagged a shortage of skilled workers in a tight labour market along with supply-chain issues. Additional reporting by Melanie Burton in Melbourne; Editing by Subhranshu Sahu and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Jacob Stausholm, Rio, Rishav Chatterjee, Archishma Iyer, Melanie Burton, Subhranshu Sahu, Christian Organizations: MELBOURNE, Alpha, Thomson Locations: Rio, Beijing, China, Pilbara, Bengaluru, Melbourne

Copper M&A more than doubled in 2002 to $14.24 billion from the previous year, according to an S&P Intelligence report. "So the large miners are saying it is difficult to build new supply, so let's just buy companies," McDonald said. Copper prices have been gradually losing steam since hitting their strongest levels in over seven months in January when optimism abounded about the reopening of China. The lower copper price presents M&A opportunities for Hudbay, Kukielski said, but it will also get "squeezed" if the price of copper falls below $3.50. With lack of large mines up for grabs, he is expecting that large miners will be looking to expand their production by acquiring smaller mines.

Persons: Lundin, Newmont, Stuart McDonald, Taseko, McDonald, Antaike, Peter Kukielski, Kukielski, Minto Metals, Aaron Colleran, Colleran, David Lennox, Divya Rajagopal, Melanie Burton, Denny Thomas, Marguerita Choy Organizations: TORONTO, Reuters, Nippon Mining, Metals, P Intelligence, Taseko, London Metal Exchange, Reuters Graphics Reuters, Hudbay, Japan's Sumitomo Corp, Minto Metals, Yukon, Royal Bank of Canada, Quantum Minerals, Ivanhoe Mines, Capstone, Barrick Gold, Bloomberg News, Barrick, AIC Mines, AIC, Sydney, Thomson Locations: SYDNEY, Toronto, Chile, Vancouver, Arizona, China, Hudbay, Canada, Yukon, Ivanhoe, Australia, Queensland, Melbourne

Prices of iron ore, from which Rio Tinto derives around 70% of its profits, eased over the second quarter on concerns over China's debt-ridden property sector, but could improve after Beijing on Tuesday pledged to roll out policies to boost growth. "China's economic recovery has fallen short of initial market expectations, as the property market downturn continues to weigh on the economy and consumers remain cautious despite monetary policy easing," Rio Tinto said in its quarterly report. Rio Q2 Shipments easeRio downgraded its expectations for refined copper production, alumina production, and output at its Canadian iron ore operations and warned of rising costs. "Production downgrades during the quarter highlight that we still have much more to do," Rio Tinto Chief Executive Jakob Stausholm said in the report. Wildfires in Northern Quebec impacted Canadian iron ore production, it said.

Persons: Rio, Glyn Lawcock, Jakob Stausholm, Melanie Burton, Navya Mittal, Rishav Chatterjee, Shounak Dasgupta, Sonali Paul Organizations: Rio Tinto, Alpha, Tinto Chief, Thomson Locations: MELBOURNE, Rio, Beijing, Barrenjoey, Sydney, Utah, Northern Quebec, Rincon, Argentina, Melbourne, Bengaluru

☆ Deep-sea metal rush in doubt as regulatory body meets
▼ + stars: | 2023-07-07 | by ( David Stanway | ) www.reuters.com time to read: +3 min

Environmental groups expect next week's meeting of the International Seabed Authority (ISA) in Kingston, Jamaica, to rule out any immediate permission for mining to begin. Mining companies say the ocean floor is potentially rich in metals like nickel and cobalt used in batteries for electric vehicles, so their extraction will support the global energy transition. Any permitting delay will hurt the prospects of Canada's The Metals Company (TMC.O) (TMC), which has led efforts to exploit seabed minerals in the Pacific. TMC says that while deep-sea mining will have some ecological impact, it would be less damaging than land-based extraction. "The fact is no one has ever mined the sea floor in any major commercial capacity," said Victor Vescovo, an investor and deep-sea explorer who will attend the meeting.

Persons: Sian Owen, Victor Vescovo, David Stanway, Melanie Burton, Clara Denina, Robert Birsel Organizations: Authority, Mining, The Metals Company, TMC, Conservation Coalition, ISA, Thomson Locations: SINGAPORE, Kingston , Jamaica, Pacific, Nauru, Germany, New Zealand, Switzerland, France, Norway, Melbourne, London

☆ China's rare earths dominance in focus after it limits germanium and gallium exports
▼ + stars: | 2023-07-05 | by ( Mai Nguyen | Thomson Reuters | Mai Reports On The Nonferrous Metals Markets In Asia. She Writes About Daily Price Movers | ) www.reuters.com time to read: +5 min

Exports: Chinese exports of rare earths have declined. Beijing then curbed global exports of rare earths, saying it was trying to curtail pollution and preserve resources. The chemical properties of rare earths make them difficult to separate from surrounding materials, and processing generates toxic waste. Western countries have ramped up support to boost domestic production of critical minerals including rare earths. Electric vehicle maker Tesla (TSLA.O) is moving away from rare earths in future models to mitigate environmental and supply risks, as the rare earth industry struggles to meet demand.

Persons: Lynas, Mai Nguyen, Melanie Burton, Dominique Patton, Tony Munroe, Barbara Lewis Organizations: United States Geological Survey, Adamas Intelligence, United, RARE, European Union, World Trade Organization, Thomson Locations: China, Japan, Beijing, CHINA, United States, Australia, Myanmar, Thailand, Vietnam, Russia, Brazil, India, Canada, Las Vegas, California, Hanoi, Melbourne

☆ What are Gallium and Germanium and which countries are producers?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +5 min

Germanium ores are rare and most germanium is a by-product of zinc production and from coal fly ash. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium. "Zinc selenide and germanium glass substitute for germanium metal in infrared applications systems, but often at the expense of performance."

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Pratima Desai, Tom Hogue, Himani Sarkar, Catherine Evans, David Evans Organizations: Alliance, . Geological Survey, WHO, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Which countries produce strategic materials Gallium and Germanium?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

Germanium ores are rare and most germanium is produced as a by-product of zinc production and from coal fly ash. China produces around 60% of the world's germanium, according to the European association Critical Raw Materials Alliance (CRMA), with the rest coming from Canada, Finland, Russia and the United States. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium.

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Tom Hogue, Himani Organizations: Alliance, WHO, United States Geological Survey, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

In 2022, top importers of China's gallium products were Japan, Germany and the Netherlands, news website Caixin said, citing customs data. Top importers of germanium products were Japan, France, Germany and the United States, it said. The buyers were anticipating it could take as long as two months to obtain export permits. Jefferies analysts said they saw the export controls as China's second and bigger countermeasure after the Micron ban. "If this action doesn't change the U.S.-China dynamics, more rare earth export controls should be expected."

Persons: Peter Arkell, Jeffries, Janet Yellen, Arkell, Caixin, Morris Young, Roy Lee, Amy Lv, Brenda Goh, Siyi Liu, Kentaro Sugiyama, Joyce Lee, Ben Blanchard, Melanie Burton, Tom Hogue Organizations: China, Companies, Global Mining Association of China, U.S, AXT Inc, Micron, Jefferies, ., Thomson Locations: China, Beijing BEIJING, SHANGHAI, United States, Washington, Beijing, Japan, Germany, Netherlands, France, Europe, Taiwan, South Korea, Yunnan, Shanghai, Tokyo, Seoul, Taipei, Melbourne

☆ World faces 'terrifying' future if miners, regulators don't step up - Newcrest
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

"We are urgently off course and we need to course correct immediately," Sherry Duhe, interim CEO of Australia's top gold miner and a former oil industry executive, told a mining conference in Brisbane. Other metals, such as nickel, cobalt and lithium, used in batteries and wind turbines, are also urgently needed for the energy transition. Miners need to step up development by an order of magnitude and governments need to slash regulatory timelines and beef up regulatory staffing, as regulation is becoming more complex, including duplicated rules, Duhe said. Newcrest is relying on a wind farm to supply 40% of its electricity needs for its Cadia gold mine in New South Wales state, but that power project development is struggling with regulatory time frames. ($1 = 1.5158 Australian dollars)Reporting by Melanie Burton; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Sherry Duhe, Duhe, Melanie Burton, Sonali Paul Organizations: BRISBANE, Newmont Corp, Thomson Locations: Brisbane, New South Wales, Newcrest, Australia, Canada, Papua New Guinea

☆ NASA sees moon lunar mining trial within the next decade
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

A key part of the mission is advancing commercial opportunities in space. Developing access to resources on the moon will be key to cutting costs and developing a circular economy, Sanders said. NASA will at the end of the month send a test drill rig to the moon and plans a larger-scale excavation of moon soil, or regolith, and a pilot processing plant in 2032. The rover will demonstrate the collection of lunar soil that contains oxygen in the form of oxides. Using separate equipment sent to the moon with the rover, NASA will aim to extract that oxygen, he said.

Persons: Gerald Sanders, Sanders, Samuel Webster, Melanie Burton, Gerry Doyle Organizations: BRISBANE, NASA, Space Centre, Australian Space Agency, Thomson Locations: U.S, Mars, Brisbane

☆ Rio Tinto sets up battery testing plant in Melbourne
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

BRISBANE, June 28 (Reuters) - Global miner Rio Tinto (RIO.AX) is setting up a battery test plant at an Australian research hub to better understand how its minerals can work for battery makers, an executive said on Wednesday. Rio set up its battery materials business in 2021 before buying the Rincon lithium mine in Argentina the following year. It has put on ice its plans to develop a large lithium mine in Serbia, for which research and development was centred at its Melbourne research hub, due to community opposition. Kaufman said demand for lithium is expected to grow five-fold out to 2030, with a significant supply-demand deficit expected from the second half of this decade. The battery plant is expected to be operational by November.

Persons: Rio, Sinead Kaufman, Kaufman, Melanie Burton, Sonali Paul Organizations: BRISBANE, Rio Tinto, Thomson Locations: Australian, Rincon, Argentina, Serbia, Melbourne, Bundoora

MELBOURNE, June 26 (Reuters) - Element 25 Ltd (E25.AX) said on Monday it will supply manganese sulphate to General Motors Co (GM.N) as the automaker looks to secure supply of battery minerals for its North American electric vehicle production, sending its shares up more than 20%. The deal is the second by General Motors for Australian battery minerals as automakers globally rush to secure supply. Shares of Element 25 rallied as much as 23% before trading at A$0.69, up 15%. GM will provide Element 25 with an $85 million loan to partially fund the construction of the facility for production of battery-grade manganese sulphate, the ASX-listed miner said. Element 25 expects to invest about $290 million in total to build the facility, and it is scheduled to open in 2025.

Persons: Harish Sridharan, Melanie Burton, Kim Coghill, Chris Reese Organizations: MELBOURNE, General Motors Co, General Motors, Queensland Pacific Metals, GM, Thomson Locations: Queensland, Louisiana, North America, Bengaluru, Melbourne

☆ Rio Tinto reopens iron ore rail line in Western Australia after derailment
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, June 21 (Reuters) - The world's biggest iron ore miner Rio Tinto (RIO.AX) said on Wednesday that it had reopened a rail line at its Western Australian operations after a train carrying iron ore near the port of Dampier derailed at the weekend. The line will remain subject to speed restrictions while a clean up of the site is underway and an investigation into the cause of the derailment is ongoing, a Rio Tinto spokesman said via email. The incident on Saturday was the second such event in recent years after peer BHP Group (BHP.AX) derailed a runaway iron ore train in the same region in late 2018. The loaded train with some 30 wagons would have been carrying around 3,900 to 4,500 metric tons of iron ore, according to one estimate. Rio Tinto has not said what the impact on its customers would be, if any, and declined any further comment.

Persons: Rio, Melanie Burton, Shri Navaratnam, Jamie Freed Organizations: MELBOURNE, Rio Tinto, BHP Group, Tinto, Thomson Locations: Rio, Dampier

☆ Australia minister calls on end-consumers to underpin critical minerals investment
▼ + stars: | 2023-06-20 | by ( Melanie Burton | ) www.reuters.com time to read: +3 min

One of the world's biggest suppliers of raw minerals, Australia unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry. Australia is the world's top supplier of lithium, and a significant producer of rare earths, cobalt, graphite, manganese and other minerals critical to global energy transition. China dominates critical minerals processing, accounting for more than 80% of global rare earths production, and holding large investments in cobalt, lithium and other mining and processing operations in Australia, Africa and South America. In 2010, China cut exports of rare earths after a dispute with Japan, sparking an international hunt for new deposits. The government can't scrimp on environmental, social and regulatory standards, however, since ethical, sustainable supply is a key strategic advantage for Australia, King said.

Persons: Madeleine King, Australia's, King, Melanie Burton, Tom Hogue Organizations: MELBOURNE, Australia, Reuters, U.S . Defence, U.S, Thomson Locations: Australia, China, Africa, South America, Japan, United States, Albemarle, Western Australia

☆ Rio Tinto iron ore train derailed at weekend in Western Australia
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies About 30 wagons of self-driving train derailedNo injuries reportedUnclear if Rio will be able to meet customer commitmentsMELBOURNE, June 19 (Reuters) - Rio Tinto (RIO.AX) was working on Monday to recover about 30 wagons of a self-driving iron ore train that derailed in Western Australia, an accident that analysts said had the potential to disrupt its exports, although no one was injured. Saturday's incident was the second such event after peer BHP Group (BHP.AX) derailed a runaway iron ore train in the same region in late 2018. "The regulator has approved recovery of the site and work to recover the derailed wagons has commenced." Rio exports from Dampier port and through Cape Lambert in the northern part of Western Australia state. Shares in Rio, which said it was investigating the incident, were down 1.2%, alongside smaller declines in other iron ore miners.

Persons: David Lennox, Melanie Burton, Muralikumar Anantharaman, Clarence Fernandez Organizations: MELBOURNE, Rio Tinto, BHP Group, Thomson Locations: Rio, Western Australia, Dampier, Sydney, Cape Lambert

☆ Australia taps global partners in landmark critical minerals strategy
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +3 min

MELBOURNE, June 20 (Reuters) - Australia, one of the world's biggest suppliers of raw minerals, unfurled a landmark strategy on Tuesday that outlines how it will work with investors and international partners to build a critical minerals processing industry for the energy transition. Supplier of nearly half of the world's lithium, Australia is a significant producer of rare earths, cobalt, copper, graphite, manganese and other minerals key to the global energy transition. The Grattan Institute, a think tank, estimates the critical minerals industry could add more than $400 billion to Australia's economy by 2050, a bigger contribution than the coal industry, Australia's no.2 export, today. The government is considering policies that would enabledomestic supply of Australian critical minerals for Australian projects, it said, although any future approach must be tailored to the needs of Australia and the global context. This comes as international companies secure ownership and supply of Australian minerals, particularly lithium and rare earth elements, meaning Australian processors and manufacturers may struggle to access supplies of Australian minerals in future.

Persons: Madeleine King, Melanie Burton, Chizu Organizations: MELBOURNE, Labor, Grattan Institute, European Union, Thomson Locations: Australia, China, Taiwan, United States, United Kingdom, Japan, Korea, India

The referendum, which comes amid a wider reckoning over race relations, proposes to change the constitution and establish an advisory body called the Indigenous Voice to Parliament to give Indigenous Australians a direct say in policies that affect them. Five of those polled were funding or planned to fund the "Yes" campaign, while none endorsed nor were contributing to "No". Commonwealth Bank told Reuters it plans to fund the "Yes" campaign and had hosted two panel discussions with Indigenous speakers. Rio Tinto, which faced criticism in 2020 for destroying Indigenous rock shelters, said the Voice would bring an "additional lens" to government decision-making. Aurora Milroy, a lecturer in Indigenous affairs at the University of Western Australia, said supporting the Voice was easy publicity for companies.

Persons: Rita Wright, Loren Elliott, Anthony Albanese, Intifar Chowdhury, Albanese, Meg O'Neill, Ross Piper, Baker McKenzie, Thomas Mayo, Kate Gillingham, Peter Dutton, Coles, Rio Tinto, Fortescue, Aurora Milroy, Byron Kaye, Praveen Menon, Melanie Burton, David Crawshaw, Devayani, Anant Chandak, Veronica Khongwir, Sujith Pai Organizations: Australian, REUTERS, Australia's, BHP, Rio Tinto, Woodside Energy, Commonwealth Bank of Australia, Labor, Voice, National, Nine Entertainment, Reuters, Commonwealth Bank, Ethical Investment, Qantas, Australian Financial, Liberal, Fair Australia, Miners, Fortescue Metals, University of Western, Thomson Locations: Sydney, Australia, Rio, Western Australia, Woodside, Queensland, University of Western Australia, Melbourne

☆ Australia's ANZ looks to expand lending to critical minerals sector
▼ + stars: | 2023-06-14 | by ( Melanie Burton | ) www.reuters.com time to read: +2 min

MELBOURNE, June 14 (Reuters) - Australian lender ANZ Group (ANZ.AX) is looking at opportunities to invest more in the critical minerals sector as part of its efforts to support decarbonisation and has recently backed its first stand-alone lithium deal, an executive said on Wednesday. ANZ has traditionally supported long-life, low-risk mine projects for Australia's staple resources including iron ore, gold, aluminium, copper and nickel, said Simon Arduca, ANZ's executive director of resources, energy and infrastructure. We have a goal to be a leader in environmental sustainability and that then feeds into critical minerals." ANZ, however, has just financed a stand-alone lithium mine, Arduca told a panel at a mining conference in Melbourne, declining to provide further details. Green finance, where companies that meet certain sustainability milestones can get access to lower lending rates has not really yet entered the mining sector, but will in time, he added.

Persons: Simon Arduca, Arduca, Melanie Burton, Jamie Freed Organizations: MELBOURNE, ANZ Group, Wednesday, ANZ, Thomson Locations: decarbonisation, Australia, Melbourne, Green

☆ BHP taps Microsoft, AI, to improve recovery at top copper mine
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +1 min

MELBOURNE, May 30 (Reuters) - BHP Group (BHP.AX) has teamed up with Microsoft Corp (MSFT.O) to improve copper recovery from its Escondida mine in Chile, the world's biggest copper mine, by using machine learning and artificial intelligence, it said on Tuesday. BHP estimates the world needs to double the amount of copper produced over the next 30 years to keep pace with the development of decarbonisation technology such as electric vehicles, offshore wind and solar farms. "We expect the next big wave in mining to come from the advanced use of digital technologies" BHP Chief Technical Officer Laura Tyler said in the company statement. Using real-time data from plants that process ore in combination with AI-based recommendations from Microsoft’s Azure platform, plant operators will have the ability to adjust variables that affect ore processing and grade recovery, BHP said. BHP, the world's biggest miner, is the majority owner of Escondida and operates the mine with partners Rio Tinto (RIO.AX), and Japan's JECO Corp. Escondida produced more than 1 million tonnes of copper during the last financial year ending in June.

☆ Australia gets U.S. backing for critical minerals industry
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, May 22 (Reuters) - Australia has won the support of the United States for development of its critical minerals industry after the two countries reached an agreement to coordinate polices and investment to support the industry's growth. Australia supplies around half of the world's lithium as well as other minerals like rare earths used in batteries for electric cars and defence, and is also setting itself up as a major hydrogen producer. The agreement paves the way for Australian suppliers of these minerals, and renewable energy, to be treated as domestic suppliers under the U.S. Defence Production Act, Australian Prime Minister Anthony Albanese said on Sunday. "This is about creating an enormous opportunity for Australia and I can't underline how significant this is," Albanese told press at the Quad Leaders Summit in Hiroshima. The compact will establish climate, clean energy and a shared energy industrial base as a central pillar of the Australia-United States Alliance, they said.

[1/2] A small toy figure and imitation gold are seen in front of the Newcrest logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/IllustrationMay 15 (Reuters) - Australian gold miner Newcrest Mining Ltd said on Monday it would back Newmont Corp's (NEM.N) A$26.2 billion ($17.8 billion) takeover offer in one of the world's largest buyouts so far this year. Newcrest shareholders would receive 0.400 Newmont share for each share held, with an implied value of A$29.27 a share, higher than a previous exchange ratio of 0.380 that Newcrest's board rejected in February. "This transaction will combine two of the world's leading gold producers, bringing forward significant value to Newcrest shareholders through the recognition of our outstanding growth pipeline," said Newcrest Chairman Peter Tomsett. Newcrest shareholders will be able to choose to receive New York Stock Exchange-listed Newmont shares or Australian-listed CHESS Depository Instruments (CDIs) as payment.

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