Author: Chloe Coutinho

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...

De Grey to expand Hemi gold De Grey Mining (ASX: DEG) will expand operations at its Hemi gold deposit in WA following strong results from recent drilling. New results extend mineralisation at the Eagle zone by 200m, with mineralisation still open down plunge and along strike. Discovery and resource extension drilling will continue within the Hemi area and at regional targets. Gorrion and Antwerp will see continued exploration with reverse circulation drilling. De Grey exploration general manager Phil Tornatora says this supports the expansion at Hemi. “Further significant intercepts continue to extend Eagle at depth,” he said. “In addition to potential resource increases,...

BHP on track for 2050 net-zero target BHP (ASX: BHP) reports it is on track to reach its 2030 decarbonisation target, with net-zero operations expected by 2050. BHP expects a 30% reduction in operational greenhouse gas (GHG) emissions by 2030 and has already reduced FY2023 emissions by 30% below the FY2020 baseline. BHP plans to reach its targets through decarbonisation efforts in mining operations and steelmaking and shipping value chains. BHP climate vice president Graham Winkelman says emissions reduction may not be linear. “As we grow to meet increasing demand for our commodities, the pathway to...

Fortescue brings opportunities to Busselton Fortescue (ASX: FMG) has expanded its Vocational Training and Employment Centre (VTEC) program to Busselton, WA. The VTEC program provides sustainable career pathways for First Nations people and is a key part of Fortescue’s training and development strategy. The program is delivered throughout WA in Perth, Broome, Karratha, Port Hedland and now Busselton. Fortescue Metals chief executive Dino Otranto says the program is backed by community support. “Fortescue is a leader in its commitment to providing opportunities for First Nations people and the success of the VTEC program...

Barminco awarded $450m contract extension at Sunrise Dam Perenti’s (ASX: PRN) underground mining business Barminco has been awarded a three-year contract extension at AngloGold Ashanti’s Sunrise Dam underground gold mine in the Goldfields of WA. The contract allows Barminco to continue underground development, production and mining support services to commence from October 1, 2024. Perenti managing director and chief executive Mark Norwell says continuation of contracts is ideal as no new growth capital expenditure is required. “AngloGold Ashanti is one of our largest clients, and we are proud to have worked with them for the past 20 years,” he said. “Perenti has an excellent track record at...

Orica celebrates an explosive history Orica (ASX: ORI) held a 150th anniversary gala last week in Melbourne, Victoria to celebrate its milestone with customers, partners, officials, retirees and employees. Founded in June 1874 as an explosives supplier, Orica has grown to become one of the world’s leading mining and infrastructure solutions providers with a market capitalisation nearing $9b. Orica started as a small company named Jones, Scott and...

Paladin Energy to acquire Fission Uranium Australian uranium company Paladin Energy (ASX: PDN) will acquire 100% of Fission Uranium Corporation in a move to bring Fission’s Canadian uranium mine into production by 2029. The transaction will create a globally significant uranium company listed on both the ASX and Toronto Stock Exchange (TSX) worth $5.25b (US$3.5b). The acquisition follows the restart of Paladin’s Langer Heinrich mine in Namibia as well as the release of Fission’s feasibility study for the Patterson Lake South (PLS) uranium mine in Canada’s Athabasca Basin region. Paladin chief executive Ian Purdy says the acquisition is part of their strategy to diversify and...

Halfway mark for almost $1b Queensland pipeline With 63km of pipeline laid, the halfway point of construction for the $983m Fitzroy to Gladstone pipeline in Central Queensland has been reached. The pipeline supported by $311m in the 2024-25 State Budget, will deliver long term water security to Gladstone and boost the emerging hydrogen and critical mineral industries. Queensland Premier Steven Miles says the pipeline will secure Queensland’s position as a renewable energy powerhouse. “The Fitzroy to Gladstone Pipeline isn’t just bringing water security to Gladstone, it will unlock more jobs in emerging industries like hydrogen and critical minerals, which are vital to our Energy and Jobs...

Alkane goes for gold with $89m Tomingley expansion Alkane Resources (ASX: ALK) announced increased gold production above 100,000ozpa with strong resultant cash flow in a five-year plan for its Tomingley gold operations in NSW. Production will be sourced from underground and open cut mining, with 455,000 to 505,000oz of gold expected over the next five financial years. This increase follows plans to realign Newell Highway and expand the existing processing plant to a nominal 1.5mtpa rate through 2025. Alkane will fund the $89m realignment and expansion through cashflow and...

$8m allocated to WA wind energy program The WA Government has signed a collaborative agreement with Advanced Manufacturing Growth Centre (AMGC) to establish a wind energy industry support program. As part of the State’s Wind Turbine Manufacturing Initiative, $8m will be committed to establishing the program which will assist local businesses in their pursuit to manufacture and service wind turbine components and power up WA's energy capabilities. WA Minister assisting the State and Industry Development, Jobs and Trade Minister Stephen Dawson says the program will support the...