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Record jobs growth in WA resources, as first seismic data is unveiled Western Australia has experienced its seventh consecutive year of jobs growth, thanks to the State’s strong resources sector. In FY24, the sector employed 134,871 full-time equivalent (FTE) positions, supported by mineral and petroleum sales of $238b. The State also led the nation in exploration investment with $2.58b spent in FY24 or 62% of the national spend. Key exploration targets included critical minerals such as lithium, rare earths (which achieved record spending levels), nickel/cobalt and copper. WA Premier Roger Cook says the State’s economic management of the resources...

Northern Territory’s Pine Creek gold mine given revival approval The Northern Territory Government has given the green light for the Fountain Head gold project in Pine Creek to resume operations. The open-cut gold mine, operated by Patronus Resources Ltd (ASX: PTN), formerly PNX Metals Ltd, was developed in 2008 and has been in care and maintenance since. Patronus Resources has met its regulatory requirements under the new Environment Protection Act 2019 and is now authorised to proceed operations following the Territory Government’s approval...

Northern Territory’s geological storage potential for carbon, hydrogen & compressed air The Northern Territory Government, in collaboration with the CSIRO, have released a study on the geological storage potential for carbon dioxide, hydrogen and compressed air across several of the Territory’s onshore basins. The report, entitled CO2, H2 and compressed air energy storage site screening study – selected onshore basins in the Northern Territory, provides an examination of the Amadeus, Bonaparte (onshore), Georgina, McArthur (including the Beetaloo Sub-basin) and Ngalia basins. It includes an assessment of their geological storage potential across hydrocarbon reservoirs,...

Copper’s fiery origins to fuel new discoveries The push to find new copper resources, as the world transitions to electrification and renewable energy sources, has been given a boost thanks to an international study that has cracked the code on the metal’s origins. Copper is on Australia’s Strategic Minerals List and the study, which includes researchers from University of Western Australia (UWA), could reshape how the metal is mined and unveil new pathways to future copper deposits. Published in Nature Geoscience, the study proposes a new model for the formation of large copper deposits. Led...

Fenix Resources flying high after positive September quarter results Fenix Resources (ASX: FEX) has announced positive results for the September quarter at the recent International Mining and Resources Conference in Sydney. The Iron Ridge iron ore mine, located in WA’s Mid-West region, saw six shipments totalling 345,950wmt of iron ore products shipped. This pushed Fenix Resources past the milestone of 5mt shipped from Iron Ridge since first shipment began in February 2021. The mine, which is 100% owned by the company, hopes this is the launchpad for plans to expand to 4mtpa as soon as 2025. Production currently sits at 1.4mtpa at Iron Ridge. Meanwhile, production and haulage...

Queensland Resources Council welcomes State’s new Mines Minister The Queensland Resources Council (QRC) has welcomed the State’s new Natural Resources, Mines, Regional and Rural Development Minister and Burdekin member Dale Last. QRC chief executive Janette Hewson congratulated Mr Last on his appointment to the Queensland Cabinet. “The QRC looks forward to working constructively with Minister Last, whose own electorate includes one of Queensland’s major resources regions,” she said. “In the 2022-23 financial year our coal, gas, metals and critical minerals generated close to $117b for...

Mining industry is nation’s biggest taxpayer The latest Australian Tax Office (ATO) Tax Transparency Report shows that the nation’s mining industry is the biggest taxpayer for the second consecutive year. With a total of $43.1b in company tax paid, along with $31.5b in royalties, the mining sector paid a combined $74.6b in FY23. Minerals Council of Australia chief executive Tania Constable comments on this. “Mining companies make up more than half of Australia’s top 20 largest taxpayers, with Rio Tinto, BHP, and Glencore taking the top three spots,” she said. “In 2022-23, the...

Mineral Resources accelerates leadership succession plan Mineral Resources (ASX: MIN) will accelerate its leadership succession plan with managing director Chris Ellison making the decision to step down as company boss. The board at MisRes has handed Mr Ellison a board-imposed financial penalty of $8.8m, and loss of remuneration of up to $9.6m, reflecting the significance of corporate governance and reputational issues to the miner. MinRes’ chair James McClements will also step down before next year’s annual general meeting. The share market has reacted to the announcement with MisRes’ shares copping a 9% hit on Monday morning. Speaking on the leadership transition and broader change to the company, Mr McClements says it is in the best interests of the shareholders and...

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