You need tough equipment for tough environments

A doubling of iron ore prices helped BHP swing back into profit for the second half of 2016. By Cameron Drummond BHP has reported a half year profit of $US3.2 billion, facilitated by a broad-trend commodity price resurgence and operational cost reductions. Results from the world’s biggest miner were slightly better than analysts’ expectations of $US3.1bn. Its underlying profit for H2 2016 surged to $US3.2bn from $US412m year-on-year due to higher than expected commodity prices and cost reductions across its operations. This marked a huge turnaround from BHP’s first reported half year loss in 16 years of $US5.67bn, recorded in H1 2016. “This is a strong result that follows several years of a considered and deliberate approach to improve productivity...

Federal Government backs green metals   The Federal Government has announced a $750m investment to drive the development of new technologies that will keep Australia’s metals manufacturing sector competitive on the global stage. Australia is already a leading exporter of high-quality alumina, aluminium, iron and steel, with metals exports contributing over $150bpa. This funding aims to add further value to the industry by supporting the adoption of low-emissions technologies and advanced manufacturing processes. The investment is part of the broader $1.7b Future Made in Australia Innovation Fund, unveiled in the 2024-25 Budget. It is designed to accelerate technological breakthroughs, fund pilot and demonstration projects and support innovations that can reduce emissions and modernise manufacturing infrastructure. A primary objective of the...

RAMPING up its strategy to become one of the world’s top middle-tier uranium suppliers, Toro Energy is set to acquire the Lake Maitland uranium project from Mega Uranium. The new acquisition is 90km southeast of the first mining targets in Toro’s Wiluna project – the Centipede and Lake Way deposits. Toro will acquire eight exploration licences, two exploration licence applications, three prospecting licences, a granted mining lease and five miscellaneous licences, as well as the uranium rights for a further six exploration licences. Toro managing director Dr Vanessa Guthrie said the acquisition would support the company’s ability to commercialise the Wiluna project. Through integration into the Wiluna project, it would add economic benefits and increase the mine’s life to more...

Alcoa and AGL Energy sign power agreement for Portland aluminium smelter Alcoa (ASX: AAI) and AGL Energy (ASX: AGL) have entered a nine-year agreement to support future operations at the Portland aluminium smelter in Victoria. Effective July 1, 2026, the agreement covers 287MW of power supply and will support smelter operations to mid-2035. Together with a 300MW contract finalised with AGL in 2023, the combined contract will enable the smelter to produce up to 95% of its nameplate capacity of 358ktpa of aluminium. Currently, the smelter production averages at about 80% capacity. Alcoa Australia interim president...