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What does the 2024 – 2025 Federal Budget mean for the Australian mining industry? Federal Treasurer Jim Chalmers has handed down his third Budget, with the country recording a surplus of $9.3b. With a $300 energy rebate, support for renters, tax cuts, student debt relief and support for small businesses (amongst others), what does the mining industry get out of it? The Australian Mining Review looks at some of the new initiatives put in place to support the mining and resources industry as outlined in the latest Federal Budget announcement. Future Made in Australia The 2024 – 2025 Federal Budget invested $22.7b over the next 10 years to build a Future Made in Australia package to maximise the economic and...

Weir introduces new sheet branding to validate the authenticity of its Linatex® premium rubber Fort Worth, Texas – Weir, the global leader in technology driven mining solutions and sole manufacturer of Linatex® premium rubber, has introduced new branding to their iconic red rubber. Linatex® premium rubber is renowned for its unparalleled wear life and total cost of ownership benefits, this new enhancement is a definitive stand against imitators selling inferior red rubber products under the Linatex® name. To...

WA resources sector welcomes nearly $20b in funding The WA Government has received almost $20b in funding support for critical minerals processing and resource exploration announced by the Federal Government’s 2024-2025 budget. Critical minerals producers with existing downstream processing activities and those entering production in the future will be supported by a 10% production tax credit of $17.6b over 14 years. A $10.2m investment in pre-feasibility studies to develop critical mineral common-user processing facilities and help small and medium-sized companies become producers. A further $566.1m commitment over 10 years will support the industry in finding new deposits of minerals and sources of energy and...

Anglo American rejects second BHP proposal Anglo American has rejected BHP’s (ASX: BHP) second proposal after the latter revised the original $59.57b (£31.1b) proposal. Anglo rejected the first proposal as it “significantly undervalues Anglo American and its future prospects” and the company’s board believed it contemplated a structure which is highly unattractive for shareholders. On May 7, Anglo American received a second unsolicited, non-binding and highly conditional combination proposal from BHP. Under the latest proposal, for each Anglo American share owned, Anglo American shareholders would receive 0.8132 BHP shares and ordinary shares in Anglo American Platinum and Kumba Iron Ore (distributed in proportion to each shareholder’s interest in the...

Latrobe Magnesium produces world first sustainable magnesium oxide Latrobe Magnesium (ASX: LMG) has produced the world’s first magnesium oxide from brown coal fly ash – a waste resource from brown coal power generation. This marks a significant milestone in pioneering a sustainable magnesium extraction method, at an industrial scale, using Latrobe’s patented, world-first hydromet process. ‘ Latrobe’s hydrometallurgical extraction/thermal reduction technology is the only process capable of extracting magnesium from brown coal fly ash and ferro-nickel slag tailing feedstocks. It produces magnesium oxide, supplementary cementitious material, silica, char, iron oxide and agricultural lime (calcium carbonate). Not only does this process reduce the operating cost...

Fortescue wins Hydrogen Transport award Forstecue’s (ASX: FMG)  The Green Pioneer has won the Hydrogen Transport award at the Sustainable Energy Council’s World Hydrogen 2024 Awards in Rotterdam, the Netherlands. The dual-fuelled ammonia-powered vessel is the first of its kind to be certified to use ammonia, in combination with diesel, as a marine fuel. Fortescue Energy chief executive Mark Hutchinson commented on this. “Fortescue is a technology group accelerating commercial decarbonisation through heavy industry, rapidly, profitably, and globally,” he said. “Our commitment to delivering real solutions to eliminate emissions is unwavering and The Green Pioneer stands as a testament to our delivery capability and...

Komatsu WA475-10 wheel loader lands in Australia Komatsu has introduced the WA475-10, 26t wheel loader to Australia, boasting 30% more fuel efficiency for quarry operators. Perfect for any hauling or loading jobs, the versatile WA475-10 promises to be the right combination of efficiency, productivity and ease of operation. Komatsu Australia national business manager Nick Vrontas says the significant upgrades on the WA475-10 make it an appealing addition to quarry fleets. “The WA475-10 features the newly developed Komatsu’s Hydraulic Mechanical Transmission (KHMT), an innovative solution that makes the loader more powerful and more fuel-efficient,” he said. “Variable speed control...

Liontown awards $71m contract to GR Engineering Services Liontown Resources Limited (ASX: LTR) has awarded an EPC (engineering, procurement and construction) contract worth about $71m to GR Engineering Services Limited (ASX: GNG). The contract is for the delivery and commissioning of its paste plant facility for underground mining operations at Kathleen Valley. The paste plant will include two trains capable of producing up to 160m3/hr of paste and has been designed to accommodate future expansion of mining operations to 4mtpa. Liontown managing director and chief executive Tony Ottaviano says the paste plant will further derisk the...

Stanwell’s big battery boosted with $448m investment The Queensland Government is investing $448.2m from the Queensland Renewable Energy and Hydrogen Jobs Fund to boost Stanwell’s big battery. This funding enables the battery planned for the Stanwell power station double in size, becoming the State’s largest committed battery project. Storage will increase from 150MW / 300MWh (2hr duration) to a 300MW / 1200MWh (4hr duration) battery system. The mega battery system will be constructed within the Stanwell power station near Rockhampton as part of the site’s transition to a clean energy hub. Stanwell chief executive Michael O’Rourke commented on...

NiWest first nickel project granted Major Project Status Alliance Nickel Ltd’s (ASX: AXN) flagship NiWest nickel cobalt project near Leonora, WA, is the first nickel project to be awarded Major Project Status by the Federal Government since nickel was added to the Critical Minerals List in February 2024. The project is expected to create approximately 600 jobs during the construction phase and an additional 300 operational jobs. Alliance Nickel managing director and chief executive Paul Kopejtka is pleased with the recognition. “We are delighted NiWest has been recognised by the Government as a project of national significance,” he said. “NiWest is the first...

Carbon capture bill passes WA Legislative Council A Bill strengthening WA’s petroleum legislation and supporting the State Government’s commitment to achieve net zero emissions by 2050 has passed the WA Legislative Council. The Petroleum Legislation Amendment Bill 2023 provides WA-based industries with opportunities to decarbonise by providing a legislative framework for the transport and geological storage of greenhouse gases. Carbon capture and storage is being used across the world by industries to decarbonise their operations. The Bill also enables the exploration for naturally occurring hydrogen through the concept of a regulated substance, which is an element that occurs within a natural geological formation. Additional...