Author: Chloe Coutinho

Anglo American reports increased steelmaking coal and copper production for Q2 alongside record performance for the Minas-Rio iron ore mine in Brazil. Anglo American chief executive Duncan Wanblad says the company will continue to embed operational excellence across the asset base. “In May, we announced our plan to accelerate our strategy by simplifying the portfolio and focusing on our world-class assets in copper, premium iron ore and crop nutrients,” he said. “We are working at pace to execute on the asset divestments, including steelmaking coal with the intention of optimising value for our shareholders, while minimising frictional costs, mitigating execution risks and enabling the delivery of significant sustainable cost savings. “Work is progressing with the aim of substantively completing this…

Evolution Mining (ASX: EVN) released its Q2 results, with record group cash flow up 171% from Q2 following strong gold and copper production. FY24 was a foundational year for Evolution’s gold production following its acquisition of the Northparkes mine. The company’s Q2 gold production was up 14% from Q1 to 212,070oz with copper production remaining consistent 20,318t. Sustainability performance was achieved in all key areas, with a 13% improvement from the prior year in total recordable injury frequency. Evolution reports a 14% reduction in emissions from May 31, 2024, showing progress towards its 2030 emissions reduction target of 30%. Evolution managing director and chief executive Lawrie Conway says these results are a credit to the Evolution team. “We had an…

Alcoa stockholders have approved the Alumina (ASX: AWC) acquisition, as the mining giant today posts strong second quarter results. Alcoa expects the acquisition to be completed by August 1, 2024, subject to approval by the shareholders of Alumina. Alcoa president and chief executive William F. Oplinger says this is an important milestone for the company. “The strong support from our stockholders reflects their recognition of this strategic step to enhance Alcoa’s global position as a leading pure-play, upstream aluminium company,” he said. This closes a productive Q2 for Alcoa, that saw a 12% revenue increase from Q1 driven by higher alumina and aluminium prices. “It was another fast-paced quarter at Alcoa as we approach the closing of the acquisition of…

The Foreign Investment Review Board (FIRB) has issued its approval of Westgold’s (ASX: WGX) acquisition of Karora. The enlarged Westgold will have a $2.4b market cap with combined ore reserves of 3.2moz and mineral resources of 13moz, which Westgold says will place it solidly among the top 5 ASX-listed gold producers operating predominantly in Australia. The company will be well funded, with financial resources of about $160m and dual listing on the ASX and Toronto stock exchange (TSX). Westgold expects to complete the transaction by the end of July, pending approval by Karora shareholders at its July 19 meeting. Westgold managing director and chief executive Wayne Bramwell says the value proposition created by the merger is compelling. “With their vote…

Former Conzinc Riotinto of Australia Limited (CRA) chief executive, chairman and managing director Sir Roderick Carnegie passed away on July 14, aged 91. Under his leadership in the 1970s and 1980s, Rio Tinto (ASX: RIO) discovered the Argyle diamond mine in WA rapidly doubling world diamond production and supplying virtually the entire world’s source of rare pink, red and violet diamonds. The company also forged strong relationships with China and continued to develop its flagship iron ore business in the Pilbara, including becoming the first Australian company to export iron ore to China. Rio Tinto chief executive Jakob Stausholm says Sir Carnegie’s leadership from 40 years ago is still felt in Rio Tinto today. “We are deeply saddened to learn…

BHP (ASX: BHP) released its FY24 operational review, showing record iron ore production and its highest copper production in over 15 years. BHP chief executive Mike Henry says BHP had a strong finish to the year. “We finished the year with a strong fourth quarter, achieving several production records and we are meeting current production and unit cost guidance for all commodities,” he said. BHP looks to continue this year’s record production and decarbonisation efforts to drive results in FY25. Record production BHP achieved FY24 production guidance for all commodities with metallurgical coal achieving the upper end of is revised guidance. The company had record production at WA iron ore operations (WAIO), Spence and Carrapateena and the highest production in four…

Rio Tinto (ASX: RIO) has released its Q2 production results, emphasising significant upgrades to safety and operations. The report highlights investments in HSE, the energy transition and decarbonisation. Rio Tinto also reported improving iron ore production in the Pilbara for Q2, with 79.5mt produced, up 2% from Q1 of 2024. Safety Rio Tinto chief executive Jakob Stausholm says the company’s operational performance is continuing to progress. “While there are still significant improvements ahead, we are beginning to see a step-change in production, including from our Queensland bauxite business following the roll-out of the Safe Production System (SPS),” he said. The company saw an injury frequency rate of 0.32 for Q2, compared to 0.37 in Q1 of 2024 and 0.38 for…

All conditions have now been satisfied for Rio Tinto’s (ASX: RIO) investment to develop the Simandou high-grade iron ore deposit in Guinea. This investment will be the largest greenfield integrated mine and infrastructure investment in Africa. More than 600km of new co-developed rail with port facilities will allow the export of up to 120mtpa of mined iron ore by Simfer and WCS from their respective Simandou mining concessions. Rio Tinto Guinea and copper executive committee lead Bold Baatar says they are thankful for the Government of Guinea, Chinalco, Baowu and WCS for their partnership in reaching this milestone towards developing the project. “Simandou will deliver a significant new source of high-grade iron ore that will strengthen Rio Tinto’s portfolio for…

Ngarluma Aboriginal Corporation (NAC) and Rio Tinto (ASX: RIO) will develop an 80MW solar farm on Ngarluma Country near Karratha, WA. The project will supply renewable energy to Rio Tinto’s iron ore operations in the Pilbara region and is expected to be located next to Rio Tinto’s Yurralyi Maya power station. This marks an essential step in Rio Tinto’s energy transition. Rio Tinto estimates 600MW to 700MW of renewable energy is required by 2030 to displace the majority of gas use across its Pilbara power network, with additional renewable energy required for widespread fleet electrification after 2030. Rio Tinto rail, port & core services managing director Richard Cohen says the project underscores the significance of Rio Tinto’s long-term relationship with…

SuperGrid cadetships open to high schoolers in remote and regional Queensland The Queensland Government is inviting high school students to apply for a cadetship on Queensland’s SuperGrid. Following a successful pilot across South West Queensland this year, Ergon Energy Network and Energex, in partnership with TAFE Queensland, are expanding the program across regional and remote Queensland in 2025. Through the Ergon Energy Network and Energex 2025 Pre-apprenticeship Program, students will learn from experienced TAFE Queensland trainers and Ergon Energy Network and Energex experts during weekly online workshops and on-campus practical days, complemented by real-world experience at up to 55 depots. Queensland Energy and Clean Economy Jobs Minister Mick de Brenni says the program will offer opportunities for young people to…

Liontown Resources (ASX: LTR) has secured a 10-month offtake agreement with Beijing Sinomine International Trade Co. (BSIT) to purchase ramp-up volumes. The 100,000dmt supply of spodumene concentrate will come from Liontown’s Kathleen Valley lithium project in WA. This agreement is in addition to existing long-term offtake contracts with Tesla, LG Energy Solution and Ford which will be progressively brought into effect over the next 12 months as Liontown ramps-up Kathleen Valley to full-production. Liontown managing director and chief executive Tony Ottaviano says these offtakes complement each other. “Securing a near-term offtake with an established lithium refiner to sell initial volumes over the ramp-up period, de-risks sales during our ramp-up of the plant towards nameplate capacity,” he said. “This complements our…