Turbotech

THE Australian Government has released a Critical Minerals Strategy Report, exposing huge holes in the supply chain as tensions between Beijing and Washington heat up. The 17 elements that make up the rare earths are vital to high-tech appliances for both domestic and military use, and the heavy rare earths are the fundamental component in the powerful magnets used in electric vehicle motors. The report highlights Australia’s status as the world’s second largest producer of rare earths, and therefore perfectly positioned to supply the US with the high-tech elements, particularly the heavy rare earths that China has traditionally dominated. Resources and Northern Australia Minister Matt Canavan said that the Critical Minerals Strategy would prepare Australia to become the alternative to...

WA producers thrown lifeline as nickel is included in Critical Minerals List The WA Government is throwing a lifeline to the State’s nickel producers by offering a 50% royalty rebate from Q2 CY24 for 18 months, in response to current global market challenges. The Nickel Financial Assistance Program will provide a rebate if the average price of nickel in concentrate is below $31,000/t (US$20,000/t) for a given quarter. The rebate will then be repayable by the companies in equal quarterly instalments over the following 24 months. WA Premier Roger...

Gold Valley’s first shipment from Esperance Port Gold Valley has exported its first shipment of iron ore from the Port of Esperance, with bulk carrier MV Sifnos setting sail with more than 78,000t or iron ore from the Wiluna West mine in the Northern Goldfields towards China. This marks the first time the port has had two iron ore customers sharing its iron ore circuit assets, including shed space, ship loader and berth. WA Ports Minister David Michael says the State’s mining industry continues to drive the nation’s economy, with the ports playing a critical role in connecting trade to the world. "Southern Ports opening its Port of...

A nation-wide team of asset finance specialists at Commonwealth Bank work to structure finance solutions which enable clients to acquire business assets. Purchasing assets such as equipment and vehicles is a significant financial undertaking; to help companies preserve their working capital, Commonwealth Bank offers a range of equipment and car finance solutions. “It’s important that you have a bank that understands the equipment and how it’s going to be used,” general manager industry and banking specialist Grant Cairns said. Mr Cairns explained that Commonwealth Bank’s knowledge underpinned the structure of its asset financing: the bank’s understanding offers mining contractors and service providers access to facilities that match the useful life of the required equipment and payment plans tailored to match...