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Pilbara Minerals expands offtake agreement with Chengxin Lithium Group 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...

Sustainability standard for global mining sector 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...

Hexagon partners with AI specialists on mine blast movement 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...

Komatsu & Williams Racing reignite historic partnership 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...

Macmahon acquires Emeco’s Pit N Portal 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...

WA EIS Round 29 opens, two new geophysics programs 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...

Red 5-Silver Lake Resources to merge 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...

$200m in grants for regional steel manufacturing 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...

State-of-the-art pilot processing plant for critical minerals in Mackay, Queensland 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...

Mineral Resources launches direct flights from Brisbane to Pilbara Mineral Resources (ASX: MIN) has launched the first of its direct flight services between Brisbane and WA’s Pilbara region with another set to commence in February as the company seeks to expand its workforce. The inaugural flight from Brisbane to Ken’s Bore took off on January 11, with the 3700km route taking 5 hours and 45 minutes travelling west and just under five hours on the return leg. Ken’s Bore is at the heart of...