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Rio Tinto, BHP and BlueScope push ahead with plans to reduce steelmaking emissions Plans are underway to develop Australia’s first ironmaking electric smelting furnace (ESF) pilot plant in an effort to accelerate the decarbonisation of steelmaking. Rio Tinto, BHP and BlueScope said they will work together to realise the plan which could reduce CO2 emission intensity by more than 80% compared with the current industry average for the conventional blast furnace steel route. Australia’s two largest iron ore producers...

Avebury Nickel Mine the latest to close amid nickel price decline The Avebury nickel mine in Tasmania is the latest Australian nickel mine to suspend operations following a decline in nickel prices amid increased international competition and reduced demand.  Mallee Resources Limited, owner of the Avebury mine, announced that the mine had gone into receivership in September last year.   KordaMentha, the receivers and managers of the mine, have confirmed that the Avebury nickel mine will be transitioning into care and maintenance due to a near 50% decline in global nickel prices since last year.  Tasmanian Resources Minister Felix Ellis says Tasmania has not been immune to the global nickel implosion which is mothballing mines across Australia and internationally, with other...

CME calls for tax credits for battery and critical minerals projects The Chamber of Minerals and Energy of WA (CME) has recommended the introduction of a production tax credit for battery and critical minerals projects as part of its submission to the federal government ahead of the May Budget.   CME chief executive officer Rebecca Tomkinson says Australia needs to act now to mitigate intense global competition for investment capital amidst geopolitical tensions, rising costs and persistent labour shortages.?  “In line with our repeated calls for competitive and stable fiscal settings, the introduction of a production tax credit for battery and critical minerals projects is another key recommendation, especially in light of the recent commodity price falls for nickel and lithium,”...

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...