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Federal Budget update: what this means for the mining industry With the Australian government looking to boost the economy, it has made a number of announcements that will impact the mining industry in the years to come. Here’s what you need to know. Investment in the mining industry Despite a challenging environment, the outlook for the mining industry remains relatively positive, with investment expected to grow modestly over the next few years. Non-mining investment is expected to be the main driver of growth in business investment over the coming years, increasing by 4% in 2022-23, 2.5% in 2023-24 and 2% in 2024-25. Ongoing upgrades to machinery and equipment and continued expenditure on construction projects will drive growth throughout these years....

Budget provides boost to critical minerals The recently released Federal Government's Budget has outlined key measures to promote energy security and a low-carbon future. The Federal Budget includes significant funding for the critical minerals industry, which is crucial for the transition to a low-carbon future. Federal Resources Minister Madeleine King highlighted the importance of critical minerals in a statement. "Critical minerals including rare earths are crucial components of low-emissions technologies such as batteries, electric vehicles and solar panels," she said. “They will be increasingly important to global efforts to decarbonise and reach Paris commitments." The Federal Budget includes $57.1m for the established Critical Minerals International Partnerships Program and $21.1m to ensure the ongoing operation of the Critical Minerals Office. The...

MetalsGrove awards maiden drilling contract MetalsGrove Mining (ASX: MGA) has announced that it has signed a drilling contract with Topdrill Pty Ltd for a maiden reverse circulation (RC) drilling program at the Bruce REE Project in the Northern Territory. The program, which is set to commence in Q2 CY2023, will drill 2,000 metres and test high priority targets, including a broad conductor and a large intrusive system. The Bruce REE Prospect is located in the Arunta Project, north of Alice Springs, and covers an area of approximately 17,722 hectares. The recent completion of an aeromagnetic and surface geochemistry program at Bruce has identified a 1,000m X 600m intrusive system considered highly prospective for rare earth element (REE) mineralisation. MetalsGrove Mining...

Major mining companies ramp up decarbonisation efforts As the world moves towards a more sustainable future, the mining industry is under pressure to reduce its carbon footprint and embrace more environmentally friendly practices. This has led to a movement within the industry to explore decarbonisation strategies and technologies, with companies making significant investments to reduce their emissions and improve their sustainability credentials. Mining giants Rio Tinto (ASX: RIO) and BHP (ASX: BHP) are making significant strides in reducing their carbon footprint and improving their sustainability credentials, indicating a growing momentum within the industry towards more environmentally friendly practices. Rio Tinto's renewable energy storage efforts Rio Tinto has been making significant efforts to reduce its carbon footprint and increase the use...

Australia most attractive for mining investment as AMEC and MCA warn against red tape Australia is the leading mining jurisdiction in the world, with three states – WA, Northern Territory and South Australia – in the top 10 for investment, according to the Fraser Institute Annual Survey of Mining Companies 2022. The US and Canada also have three jurisdictions each in this year’s top 10, with Nevada topping the global list based on the Investment Attractiveness Index. WA is second on...

Faraday lithium mining proposal lodged with WA DMIRS Widgie Nickel Limited (ASX: WIN) has submitted its mining proposal and mine closure plan to the WA Department of Mines, Industry Regulation and Safety (DMIRS) for the Faraday lithium project. The submission is in relation to a lithium direct shipping ore (DSO) mining operation that the company is targeting to commence in the second half of 2023, whilst continuing exploration works on Faraday and the broader Mt Edwards project to develop a greater understanding of the overall lithium endowment across the company’s tenure. Widgie Nickel managing director Steve Norregaard says the team...

Abra mine resumes production Galena Mining (ASX: G1A) has resumed full production at its Abra lead and silver mine following the significant rainfall event in March that impacted operations. The mine has been restocked with essential consumables and mining and processing plans have been implemented for May and the remainder of the June quarter. Galena Mining managing director Tony James says April operations were limited due to the loss of the roads to site following the March rain, which interrupted the continued ramp-up of Abra mining and processing operations. “The mine has now resumed its activities and is working...

Greatland Gold announces plans to list on the ASX Greatland Gold (LSE: GGP), a leading mining development and exploration company, has announced its plans to list on the ASX later this year. This move is a significant milestone for the company, as it seeks to enhance its capital markets profile, provide access to deeper pools of capital to support longer-term growth, and increase equity research and institutional investor ownership of the company. Greatland's flagship asset, the world-class Havieron gold-copper project, is presently under development in joint venture with ASX gold major, Newcrest Mining Limited. To support its growth strategy and ASX listing, Greatland has appointed Yasmin Broughton as an Independent Non-Executive Director of the Company. Broughton's expertise in corporate law,...

Burton mine complex reopens signalling boost to QLD economy Bowen Coking Coal's (ASX: BCB) Burton Mine Complex in the Bowen Basin region of QLD, Australia, has officially reopened, providing a much-needed boost to the local economy and job market. The site primarily produces steelmaking coal for export and has several unmined coal deposits, including the Broadmeadow East mine. It is expected to produce up to 4.5 million tonnes of mainly steelmaking coal every year when it reaches full capacity. The reopening of the Burton Mine Complex is a sign of strong confidence in Queensland's resources sector, including the state's large deposits of high-quality steelmaking coal. Bowen Coking Coal's investment in the project demonstrates their commitment to the region's economic future,...

Northern Star reports successful resources and reserves update Northern Star Resources Limited (ASX:NST), a leading gold mining company, has announced its annual Mineral Resource and Ore Reserves update for the 12 months ending March 31, 2023. The company reported a group Mineral Resource of 57.4 Moz and Ore Reserves of 20.2 Moz, highlighting the value generated by the company's sustained exploration investment and offsetting mine depletion and divestments. The Mineral Resource grew by 3.5Moz from exploration success across operating centres in Western Australia and Alaska, demonstrating significant organic growth optionality within Northern Star's portfolio. This growth includes a maiden Mineral...

Metal Hawk acquires 100% ownership of WA projects Metal Hawk Limited has announced that it has secured 100% ownership of the Kanowna East, Emu Lake, and Fraser South projects in Western Australia by purchasing IGO Limited's 51% Joint Venture interest. This transaction will increase IGO's shareholding in Metal Hawk from 5.4% to 8.2%. Metal Hawk will now own all the projects, including the extensive maiden drill program that will begin shortly at Fraser South, targeting early-stage indicators of nickel-copper sulphides and rare-earth elements (REE). Metal Hawk is preparing for an extensive aircore drilling program at Fraser South, targeting Ni-Cu mineralisation hosted within zones of potential mafic and ultramafic stratigraphy. The project covers over 40km of strike along the interpreted structural...