BHP Group’s Australia President, Geraldine Slattery, has warned that the nation can no longer rely solely on its traditional mining export markets and is unprepared to face a new era of lower-cost competitors. Speaking in Brisbane on Monday, Slattery highlighted that the boom in demand from China’s industrialization has now moved past its aggressive growth...
READ MOREMineral Resources has announced the immediate closure of its Bald Hill lithium mine in Western Australia due to a prolonged and significant decline in lithium prices. The decision comes as the latest in a series of production cutbacks among global lithium producers, driven by an oversupply and reduced demand for the critical battery material. The...
READ MOREAustralian startup Green Gravity has initiated studies to develop a 2GWh gravitational energy storage project in Northwest Queensland. Located in Mount Isa in the Gulf Country region, the project will be developed in partnership with Mount Isa City Council and global mining company Glencore, with a focus on regional studies, mine site concept engineering, and...
READ MOREAustralia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), is investigating Mineral Resources and its founder, Chris Ellison, following allegations of undeclared payments that allowed Ellison to avoid tax. A spokesperson for ASIC confirmed that the regulator is aware of the situation, is monitoring developments, and has begun initial inquiries, though further details have...
READ MORESouth32 reported mixed production performance for the first quarter of its financial year, while maintaining its annual output guidance. The Perth-based mining company saw a rise in aluminium production but reported declines in other areas, including silver and lead. Aluminium output increased by 3.5% year-on-year to 298,000 tonnes in the three months ending September 30,...
READ MOREMorgan Stanley analysts Rahul Anand and Shannon Sinha believe that the recent disruption at BHP Billiton’s Olympic Dam copper operations is unlikely to have a significant impact on either the company or the wider market. In a report, the analysts estimated that while it remains unclear how long the mining and processing operations will be...
READ MORESibanye-Stillwater announced the suspension of operations at its Century mine in Queensland, Australia, due to regional bushfires that caused significant damage to surface piping infrastructure. The South African precious-metals miner reported extensive loss of feed and water lines connecting the hydro mine to the processing plant, along with other key service lines. The company has...
READ MOREThe only surprising aspect of Australian resources giant BHP’s July-September (Q1) production results was better-than-expected nickel production, according to Citi analysts. BHP’s currently shuttered nickel operations produced 19,600 tonnes, 35% more than Citi had expected. Other than that, the company stated that its performance was “broadly in line with expectations” and that “there are no...
READ MORERio Tinto has finalized the acquisition of Mitsubishi Corporation’s 11.65% interest in Boyne Smelters Limited (BSL), as announced on 30 September 2024. BSL operates the Boyne Island aluminium smelter in Gladstone, Australia. With this transaction, Rio Tinto’s ownership stake in BSL has increased to 71.04%. Rio Tinto expressed its commitment to collaborating with its joint...
READ MOREAlcoa of Australia has extended power supply arrangements for its Portland Aluminium Smelter through mid-2035, securing new agreements with AGL that will allow the facility to approach full production capacity. The smelter, which is currently operating at around 80% of its 358,000-ton annual capacity, now has greater certainty about its long-term prospects. The newly announced...
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Continuing Investigation The New South Wales Government’s inquiry into potential toxic pollution advances, setting its sights on the Cadia gold mine and other Central West mining sites. The probe is meticulously examining the impact of mining activities on public health, land, and water quality. Earlier Proceedings Previous hearings held at NSW Parliament House brought Cadia’s...
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Glencore’s Financing Decision: On Wednesday, September 27, Glencore, a major shareholder in Koniambo Nickel SAS (KNS) with a 49% stake, announced plans to withdraw financial support for the New Caledonian firm by the end of February 2024. This decision hinges on the absence of alternative financing solutions. A Nickel for Koniambo’s Thoughts: The majority stakeholder...
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