Author: Chloe Coutinho

Federal Government plans for a stronger, cleaner economy The Federal Government has introduced the new Future Made in Australia Bill 2024 to Parliament. This package will legislate the new National Interest Framework, introduce a robust sector assessment process and outline the Community Benefit Principles intended to encourage new industries that strengthen economic resilience during the energy transition. The National Interest Framework defines criteria for identifying sectors essential to the net zero transformation and where Australia has a genuine comparative advantage. The...

Rio Tinto invests $18.5m in WA based Sovereign Rio Tinto (ASX: RIO) has increased its shareholding in Sovereign Metals (ASX: SVM) to 19.76%, making it the company’s largest shareholder. Via an option excise, Rio Tinto will invest $18.5m to be used to advance the Kasiya rutile-graphite project in Malawi. This includes progressing an optimisation study for a world-class mine capable of supplying critical minerals to the titanium pigment, titanium metal and lithium-ion battery industries. Sovereign chairman Ben Stoikovich says this investment reaffirms Kasiya’s position as one of the most significant...

Rio Tinto promises two new solar farms for energy transition Rio Tinto (ASX: RIO) has announced its plans for two new 5.25MW solar farms for the Gove Peninsula in the Northern Territory. Construction will begin in July 2024, with completion scheduled for early 2025. Aggreko will construct, own and operate the solar farms for Rio Tinto for up to 10 years. The solar farms will be built on Rio Tinto leases, following agreement with the Gumatj and Rirratjingu Traditional Owner Groups, and will help transition to a low-carbon future after mining operations cease...

Liontown secures $379m for Kathleen Valley ramp-up Liontown Resources (ASX: LTR) has secured funding from LG Energy Solution to boost current lithium mining and explore the feasibility of establishing a lithium refinery in WA. The agreement includes a five-year $379m (US$250m) convertible note, increasing total cash balance to about $501m to fund the Kathleen Valley, WA, ramp-up to 3mtpa steady state production. Funding will progress early enabling works in the underground mine to preserve the 4mtpa expansion option on a 2027 timeframe and to support 3mtpa production. The existing offtake agreement has also...

Civmec awarded $174m in contract extensions Civmec (ASX: CVL) has been awarded $174m in contract and scope extensions for fabrication, manufacturing, construction and maintenance work across Australia. Among these awards is the contract for the supply, manufacture and offsite assembly of a new shiploader for the Dalrymple Bay terminal in QLD to be undertaken at Civmec’s state-of-the-art facility in Henderson, WA. Civmec states the project will create significant opportunities for local employment and subcontracting, reinforcing Civmec’s commitment to contributing positively to the communities in which it...

Asra fast-tracks Kookynie gold project Asra Minerals (ASX: ASR) has accelerated preparations for drilling at Kookynie East in WA. This follows documentation from Bullseye Mining and Kalgoorlie Mining Associates, detailing agreement to dismiss all Applications for Forfeiture over the tenements. The tenements are being acquired by Asra to add to its expanding gold portfolio in the Leonora-Kookynie region of WA. Asra executive chairman Paul Summers says this development provides certainty for progressing drilling preparations. “This legal matter, which was unrelated to Asra and largely outside of the Company’s control, has not affected our ongoing...

Mt Marion breaks new ground Mineral Resources (MinRes) (ASX: MIN) achieved first underground firing at its Mt Marion lithium operation in WA. Full development earthworks targeting a depth of 350m are expected within the next 18 months. Mt Marion general manager Marcelo Avecilla says the underground cut marks an important step forward in Mt Marion’s transition to an open pit and underground operation. “We’ve always considered Mt Marion a world-class asset and having recently doubled our underground Resource, MinRes is now working hard to deliver an exciting new phase...

Federal Government to overhaul automotive qualifications across industries The Mining and Automotive Skills Alliance (AUSMASA) plans to reform vocational education and training (VET) packages, becoming one of the first Jobs and Skills Councils to do so. AUSMASA will examine 15 different Certificate II pathway qualifications in the automotive training package. Qualifications will be redesigned based on their purposes to respond to changing workplaces and industries. This follows guidance from the Qualification Reform Design Group which proposed a revised system that moves away from a ‘one-size-fits-all’ approach....

Karora and Westgold set for merger The Karora Resources board has unanimously recommended shareholders back its upcoming merger with Westgold Resources (ASX: WGX). For the merger to proceed, two-thirds of Karora shareholders will be required to vote in favour of the transaction on July 19. All Karora directors and senior officers have entered into agreements with Westgold to vote in favour of the transaction. The merged company will operate across two WA goldfields which includes four production centres. It is expected to become a top five Australian gold producer,...

Stanmore begins shutdown of Mavis Underground Stanmore Resources (ASX: SMR) announced it will begin halting mining operations at the Mavis Underground coal project in Queensland from the end of June 2024.  This follows a strategic review that determined the project, given its relatively short mine life, has proven to be uneconomic under current market conditions and coal prices.  The review cited comparatively higher costs driven by the challenging ramp-up and lower production volumes achieved to date.  The Mavis Underground pit, part of the larger Millenium project, will be closed and sealed, with the Millennium Complex as a whole expected...

Critical minerals tax credit in the works Consultation has begun for the Federal Government’s $13.7b production tax incentives. The production tax credits are designed to incentivise investment in renewable hydrogen, boost production of critical minerals and create jobs and opportunities for Australians. Federal Treasurer Jim Chalmers says the tax incentives are essential to the Future Made in Australia package in the Federal Budget. “The global energy transformation represents a golden opportunity for Australia and our production tax incentives will help us make the most of that opportunity,” he said. “Our production tax incentives will unlock...