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Rio Tinto commits further $1.7m to Australia-Japan Innovation Fund Rio Tinto (ASX:RIO) has committed an additional $1.7m to the Australia-Japan Innovation Fund (AJIF) to promote research and academic projects between the two countries and further collaboration between industry, educational institutions and governments. The commitment was signed at the 60th Australia-Japan Annual Joint Business Conference which was held in Melbourne from October 8 - 10. Rio has been the sole funder of the initiative since it was established in 2018 and has funded about $5m in operating costs and research grants since then. Rio Tinto chief executive Australia Kellie Parker says the company is pleased to make another commitment. “Science and technology are...

Consultation opens for best-practice decommissioning The Department of Mines, Industry Regulation and Safety (DMIRS) is seeking feedback for the decommissioning of petroleum and geothermal energy property, equipment and infrastructure in WA onshore areas and State coastal waters. The draft policy and guideline were prepared following industry feedback received on the Draft Decommissioning Discussion Paper which was released for consultation in September 2022. The materials outline DMIRS’ expectation for decommissioning and provide clear guidance to registered holders on their decommissioning and rehabilitation obligations. DMIRS Resource and Environmental Compliance Division’s acting executive director Dan Endacott says the department will emphasise the importance of proactively managing decommissioning and rehabilitation. “Safe, timely and responsible decommissioning is a...

Hancock Prospecting further increases Liontown shareholding Hancock Prospecting has become Liontown Resources’ (ASX:LTR) largest shareholder and now holds 16.7% of the company. Hancock made an initial 7.72% investment in September 2023 and then increased it to 10.7% later in the month. This increased investment makes Hancock Liontown’s largest shareholder and Hancock welcomes the opportunity to participate in the Kathleen Valley project and have an influence on Liontown’s overall future direction. Located on the western edge of the Norseman-Wiluna Greenstone Belt in WA, Kathleen Valley is a tier-1 battery metals asset with a mineral resource estimate of 156mt at 1.4% lithium oxide and 130ppm tantalum pentoxide. The operations have been...

Fortescue enters 25-year power purchase agreement with Genex Power Fortescue Metals (ASX:FMG) and Genex Power (ASX:GNX) have entered a 25-year power purchase agreement (PPA) for the proposed Gibson Island project. The PPA will secure 337.5MW of the energy generated from the first stage (proposed at 450MW) of Genex’s Bulli Creek solar project, which it is developing in partnership with J-POWER. Fortescue chief executive Mark Hutchinson says the agreement would secure some of the required power for Gibson Island as well as underpin the development of a new renewable energy project in Queensland. “This agreement is the first step in securing renewable power supply for the Gibson Island project...

Newmont receives all necessary government approvals for Newcrest acquisition Newmont Corporation has received all necessary government approvals to proceed with the acquisition of Newcrest Mining (ASX:NCM). The Securities Commission of Papua New Guinea (SCPNG) has granted the necessary exemptions and other requested confirmations under PNG capital markets law. This follows the Philippine Competition Commission (PCC) indicating its approval. Newmont president and chief executive Tom Palmer says the company looks forward to building a strong relationship with Papua New Guinea. “We look forward to building strong and mutually beneficial partnerships with the government and people of Papua New Guinea to generate lasting shared value and meaningful economic development through the world-class Lihir gold mine...

Sandvik introduces two new virtual training simulators Sandvik Mining and Rock Solutions has introduced two new virtual training simulators to its Digital Driller offering. The new Sandvik DD322i and Sandvik DD422i Dual Controls simulators feature the latest software and advanced training methods for underground drill operators and maintenance teams. The Digital Driller simulators offer an authentic, safer learning environment for operator training across underground hard rock drilling applications. This virtual training environment means that operators can be trained on site with no damage to equipment or the mine environment, and no impact on machine availability. Sandvik Underground Drilling Training Academy manager Tiia Pohjanlehto says the new simulators provide more thorough training. “With the...

Fortescue takes lead investor role in Electric Hydrogen’s Series C funding round Fortescue (ASX:FMG) has taken the lead investor role in Electric Hydrogen’s (EH2) $598m (US$380m) Series C funding round. While FMG hasn’t disclosed how much its investment was, it was completed in June 2023. Fortescue Energy chief executive Mark Hutchinson says the company is committed to supporting the rapid scaling of green technology to help heavy industry decarbonise. “Right now there are not enough electrolysers in the world to support the amount of green hydrogen we are set to produce,” he said. “That is why we are partnering with other world leaders in this space to secure our green energy supply chain, and we’re excited to invest and secure...

Komatsu GD955-7 grader makes Australian debut The Komatsu GD955-7 grader has made its Australian debut in Mackay, Queensland, as it prepares to travel around the country to give mining customers their first look. The GD995-7 loader is built specifically for mining operations with a big focus on productivity thanks to its blade up design allowing for more efficient ground penetration. Komatsu national mining product manager Michael Hall says the loader has been highly anticipated by customers. “The GD955-7 is a ground-up designed mining grader. It can grade 33% more area per hour than the previous model, with a standard 5.5m blade, or an optional 6.1m blade width for even more productivity,” he...

WA Government seeks registrations of interest for decarbonisation plans The WA Government is seeking registrations of interest (ROI) from large commercial and industrial users on their plans for low-emissions electricity and renewable energy projects to supply major projects in the state’s main electricity grid — the South West Interconnect System (SWIS). These ROIs will help inform how and when future transmission builds could happen and where renewable energy hubs could be located.   The ROI aims to establish a customer base that will shape future major transmission expansion projects, prioritise areas for grid investment and gain valuable insight to enable policy setting for suitable funding arrangements. WA Energy Minister Bill Johnston...

Resources and energy export values expected to ease Over the next two years, the value of Australia’s resources and energy exports is forecast to ease from the 2022-2023 record high as commodity prices return to more normal levels. According to the Department of Industry, Science and Resources’ September edition of the Resources and Energy Quarterly, an easing in resources and energy export values to $400b in 2023-2024 and $352b in 2024-2025 is forecast as world demand softens and global supply stabilises. Further, iron ore export earnings are expected to fall to $120b in 2023-2024, LNG earnings are forecast to drop to $71b this year, lithium exports are forecast to decrease to $18b...

Work of application submitted for Victoria’s newest rare earth project Astron Corporation (ASX:ATR) has submitted a work of application regarding the construction and operation of the Donald rare earth and mineral sands project. The application was submitted to the Earth Resources Regulator (ERR) within the Victorian Government Department of Energy, Environment and Climate Action (DEECA). The work plan is the main regulatory approval outstanding prior to construction of phase one of the Donald project. The submission of the plan represents the achievement of a major milestone towards development of the project. Donald already has a positively assessed Victorian Environmental Effects Statement (EES), a concluded federal Environment, Biodiversity Protection and Conservation (EPBC) approval...