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The Chamber of Minerals and Energy of WA (CME) has recommended the introduction of a production tax credit for battery and critical minerals projects as part of its submission to the federal government ahead of the May Budget.   CME chief executive officer Rebecca Tomkinson says Australia needs to act now to mitigate intense global competition for investment capital amidst geopolitical tensions, rising costs and persistent labour shortages.?  “In line with our repeated calls for competitive and stable fiscal settings, the introduction of a production tax credit for battery and critical minerals projects is another key recommendation, especially in light of the recent commodity price falls for nickel and lithium,” she said.??  “Tangible actions like this will support Australia’s broader ambitions…

The Pilbara Minerals (ASX: PLS) share price rose more than 5% on Wednesday after the company announced it had amended an offtake agreement with Chengxin Lithium Group which extends and expands the supply of spodumene concentrate to the lithium chemical converter.   Under the new terms of the agreement, Pilbara Minerals will supply an additional 60kt of spodumene concentrate to Chengxin in 2024, taking the total supply for the year to 85kt.  Additionally, Pilbara Minerals will supply 150kt of spodumene concentrate to Chengxin in 2025 and in 2026 Pilbara Minerals will supply 150kt of spodumene concentrate Chengxin.   The pricing is consistent with the previous agreement and all spodumene concentrate volumes will be sold based on the prevailing market price, according to…

A first global standard that addresses the sustainability impacts of the mining sector has been launched. The GRI Mining Standard, GRI 14: Mining Sector 2024, was developed with stakeholders in the industry and enables mining companies to use a common set of metrics to report their impacts. It sheds light on the dual nature of the mining sector – providing essential minerals and metals that society relies on, while having significant impacts on the environment, communities and workers. GRI’s Global Sustainability Standards Board (GSSB) chair Carol Adams says that from a sustainability standpoint, the position of mining is complex, in that it is both part of the solution and the problem. “The low-carbon transition cannot be realised without key minerals…

Hexagon is partnering with WA’s Augment Technologies to help mines maximise ore yield and optimise operational efficiencies by accurately accounting for blast movement. The partnership will harness a blend of block model data, artificial intelligence, movement models and measured 3D movement data to create blast movement solutions for mine sites. Hexagon’s Mining Resource Optimisation division vice president James Dampney says the implications for the industry are profound. “Ore loss, dilution and misclassification cost mines millions of wasted dollars a year,” he said. “Our partnership with Augment Technologies will help mines to optimise digging locations and downstream handling of ore, resulting in valuable processing efficiency and reductions in energy consumption. “Customers will save training time and operation time by remaining in…

Leading heavy equipment manufacturer Komatsu has signed a multi-year deal with Williams Racing to become the Principal Partner of the British team from the start of the 2024 FIA Formula One World Championship (F1) season. Komatsu was a key partner of Williams Racing in Formula One during the 1980s and 1990s, with most notable achievements in 1996 and 1997, when Komatsu supported Williams Racing to Constructors’ and Drivers’ Championships with Damon Hill and Jacques Villeneuve respectively. Its logo and branding will feature prominently on the 2024 Williams Racing livery, as well as the team’s overalls and kit, during the upcoming Formula One season. Komatsu Australia chief executive Sean Taylor says “so many of our customers and team members look forward…

Macmahon (ASX:MAH) has completed the acquisition of Pit N Portal, the underground business of Emeco (ASX:EHL) as well as related site infrastructure assets, inventory and light vehicles. Valued at about $10m, the transaction includes Pit N Portal’s operations at Wyloo’s Durkin and Cassini mining projects, the transfer of Pit N Portal customer contracts, employees and non-mining fleet assets to Macmahon, in exchange for surface and underground mining equipment which are core to Emeco. Emeco and Macmahon have also entered a five-year agreement under which Emeco will become Macmahon’s preferred equipment rental provider for both surface and underground, including the rental of Emeco’s existing underground fleet at projects transferring to Macmahon. Emeco chief executive and managing director Ian Testow says that…

The WA Government has opened Round 29 of the Exploration Incentive Scheme’s (EIS) co-funded drilling program and Series 7 of the Energy Analysis Program (EAP), with applications welcomed from today. Two new geophysics initiatives have also been launched following a State Budget funding increase for FY24. WA Mines and Petroleum Minister David Michael says the State Government aims to position WA has a global supplier of future battery minerals and materials. “Resources exploration remains a leading driver of WA’s economic success, so it is pleasing to see the Exploration Incentive Scheme deliver so many outstanding results,” he said. “I look forward to learning more about the research and technology behind the new geophysics programs and how these tools will help…

In breaking news, Red 5 Ltd (ASX: RED) and Silver Lake Resources (ASX: SLR) will merge to create a 445,000ozpa mid-tier gold mining company, with ore reserves and mineral resource inventory of 4moz and 12.4moz respectively. Once the merger is finalised, the company will have ownership of four gold projects: King of the Hills (KOTH), Deflector operations, Mount Monger operations, all three in WA, with the Sugar Zone project in Ontario, Canada. Silver Lake managing director Luke Tonkin says “this transaction represents a highly complementary combination of assets and balance sheets for the mutual benefit of both Silver Lake and Red 5 shareholders”. Red 5 managing director Mark Williams says the “logical merger of two leading mid-tier gold companies …

The Federal Government is providing $200m in grant funding to BlueScope Steel Limited and Liberty Steel Australia to secure Australia’s steelmaking industry. The first round of the Powering the Regions Fund (PRF) will provide funding to both companies to progress projects in NSW and South Australia. BlueScope has been awarded $136.8m towards the reline and upgrade of its No. 6 blast furnace at the Port Kembla Steelworks. This project will maintain domestic production, reduce emissions, and support pathways to producing even lower-emissions steel in the future. LIBERTY has also been awarded $63.2m towards the purchase and commission of a low carbon electric arc furnace (EAF) to replace the existing traditional blast furnace at the Whyalla Steelworks. The new state of…

The concept design for a pilot critical minerals processing plant, FlexiLab, has been unveiled in Mackay, Queensland. Unveiling the concept at the Resources Centre of Excellence, Queensland Resources and Critical Minerals Minister Scott Stewart says FlexiLab will provide a dedicated facility for industry to test processing and recovery of minerals not normally produced. “”Mackay is a key player in Queensland’s critical minerals sector,” he said. “Investments in initiatives like FlexiLab, will help to ensure a strong resources future for the community and for Queensland for decades to come. “As we continue to face the global demand for critical minerals, FlexiLab will play a pivotal role in shaping the future of mineral processing. “This state-of-the-art facility, designed with a vision for…