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Mineral Resources records $4.8b in revenue for FY23 Mineral Resources (ASX:MIN) has recorded revenue of $4.8b for FY23, up 40% on the prior corresponding period (pcp). Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was up 71% to $1.8b following strong pricing and increased volumes. These increases were driven by record earnings from both the Mt Marion and Wodgina lithium projects, solid mining services results and an improved contribution from iron ore with higher achieved prices. Statutory net profit after tax was down $107m from the pcp to $244m with the impairment due to a re-estimation of the available ore to be mined at current forecast consensus prices and...

Earth-shattering: Liebherr showcases powerful machines, alternative drives and digital solutions at steinexpo 2023 Liebherr has unveiled more than 10 machines from its earthmoving and mining product segments at the steinexpo 2023, held in Homberg in central Germany, from 23-26 August. The machines formed part of the static exhibition, the live demonstration site and the 1,200 m2 Liebherr pavilion. Liebherr’s machine highlights included the: Robust TA 230 Litronic articulated dump truck for tough use in the mining industry and overburden transport; Improved crawler excavators R 992 and R 978 SME of the new 70-100t machines and the mining excavator R 9150 for demanding projects in the mining industry; L 546 and...

Fortescue Metals appoints Dino Otranto as chief executive, releases FY23 results Dino Otranto has been appointed as chief executive of Fortescue Metals (ASX:FMG), replacing Fiona Hick who lasted just under six months in the role. With over 20 years of experience in the global energy and resources industry, Mr Otranto joined Fortescue in 2021 as chief operating officer iron ore. Prior to joining Fortescue, he was chief operating officer at Vale Base Metals, leading the company’s North American, European and Asian nickel and copper businesses. Mr Otranto commented on his appointment. “I am really looking forward to continuing to work with our amazing Fortescue team to strengthen our powerhouse iron ore business...

Rio Tinto and First Quantum form joint venture for La Granja Rio Tinto (ASX:RIO) and First Quantum have formed a joint venture to unlock the development of the La Granja project in Peru. La Granja is one of the largest undeveloped copper deposits in the world and it has the potential to be a large, long-life operation with an indicated and inferred mineral resource of 4.32bt at 0.51% copper. First Quantum has acquired a 55% stake in the project for $105m and will invest up to a further $546m to fund capital and operational costs to take La Granja through a feasibility study and toward development. As majority owner, First Quantum...

CSIRO technology the #1 element in reducing hydrogen production costs In a game changer for heavy industry, CSIRO and corporate advisor RFC Ambrian have co-founded Hadean Energy to commercialise technology that can significantly reduce hydrogen production costs and industry emissions. While the International Energy Agency estimates hydrogen demand to increase 138% by 2030, high production costs and energy inputs remain at this stage key challenges for producing green hydrogen. CSIRO’s tubular solid oxide electrolysis (SOE) technology produces hydrogen efficiently by electrolysing water using a combination of heat and electricity. CSIRO lead scientist on hydrogen research Dr Sarb Giddey says this SOE technology “has the potential to produce hydrogen at...

Dolphin tungsten mine re-opens after 30-year closure The Dolphin tungsten mine on King Island in Tasmania has officially re-opened after being closed for 30 years. Tasmania Minister for Resources Felix Ellis said he was proud to be on King Island to support the event which is one of the most significant projects seen in the region in recent years. “14 years in the making, it is tremendous to see this economic gamechanger get going,” he said. “The Dolphin mine is known for hosting the highest-grade tungsten deposit of significant size in the western world. “Essential to steelmaking, electronics and defence manufacturing, tungsten is a critical mineral the world cannot do...

bp completes concept development phase study into H2Kwinana energy hub WA is one step closer to the creation of a large-scale green hydrogen hub with bp completing its concept development phase study into its energy hub H2Kwinana. The study identified two potential base case scenarios, with the hub producing either 44tpd of green hydrogen or 143tpd. The potential growth target of 429tpd was selected as the third and final case. The H2Kwinana hub will be able to provide a renewable hydrogen supply for domestic and export markets as well as support the creation of new green industries. To create green hydrogen, the required electrical power is derived from renewable energy sources or by...

Siviour confirmed a second largest proven reserve of graphite in the world An update to the mineral ore reserve estimate confirms Renascor Resources’ (ASX:RNU) Siviour graphite project as the second largest reported proven reserve of graphite in the world. Further, it confirms Siviour as the largest reported total ore reserve of graphite outside of Africa. This update includes a 13% increase in total reserves and an 8% increase in proven reserves and provides additional confidence in the size and quality of Siviour as a consistent source of high-quality graphite. The updated ore reserve includes proven reserves of 16.8Mt at 8.2% total graphitic carbon (TGC) for 1.4Mt of contained graphite, probable reserves...

QMIHSC confirms mine industry’s commitment to best practice The annual Queensland Mining Industry Health and Safety Conference (QMIHSC) has wrapped up, following four days of discussions about the need to improve safety across Queensland’s resources sector. Over 1100 delegates attended the conference, which is the biggest annual event of its type in the Southern Hemisphere. Keynote speakers from mining and other industries shared their knowledge and experience with different initiatives and technologies dedicated to improving the physical and mental health of workers. QMIHSC chair Larnie Mackay said delegates will have plenty of new safety information to take back to their workplaces. “The conference has again confirmed our industry’s...

WA Government gives approval for Collie graphite micronising qualification plant Works approval has been received from the WA Government to install new graphite micronising equipment at International Graphite’s (ASX:IG6) research and development facility in Collie. The equipment is currently in transit from North America and is expected to arrive at Fremantle Port in September 2023. This custom-built qualification-scale plant is a significant advancement on International Graphite’s pilot processing plant which was commissioned in September 2022. The new qualification plant is designed to process graphite concentrates to produce a commercial graphite product for quality and performance evaluation by potential customers. Capable of producing 100tpa to 200tpa of micronised graphite,...

WA Government allocates $3m for battery materials laboratory in Bentley A new research and development laboratory facility has opened in Bentley, marking another milestone being met in WA’s path to becoming a global battery materials manufacturing hub. Through its Investment Attraction Fund, the WA State Government has allocated $3m to local company AustVolt, which is working towards developing and producing battery precursor cathode active material (pCAM). pCAM is a vital component for manufacturing lithium battery cells which have a range of uses including in electric vehicles. This new Bentley facility will allow AustVolt to produce samples of its pCAM product, which can be used in battery manufacturing trials within the electric vehicle industry....