Agricultural waste emerges as a viable coal substitute in steelmaking

Fortescue (ASX: FMG) has signed an agreement with Bocimar to charter a new green ammonia-powered vessel. This agreement aligns with the progress both companies are making to decarbonise the shipping industry. Bocimar is a division of CMB.TECH, a diversified group striving to decarbonise the maritime industry, that owns and operates bulkers that transport coal and iron ore. Fortescue is anticipating the delivery of the 210,000 dwt Newcastlemax vessel by the end of 2026. This vessel will become a crucial element in the shipment of iron ore from the Pilbara to Fortescue’s international customer base. The highly efficient carrier features a dual engine that can run on ammonia produced by using renewable energy. The company has voiced its commitment to eliminating…

BHP (ASX: BHP) has reached an agreement to settle the Australian Samarco shareholder class action filed to the Federal Court in 2018. The class action was launched on behalf of shareholders who acquired BHP shares prior to the 2015 Fundão tailings dam collapse. The dam collapse at the Samarco iron ore project in Brazil killed 19 people and lead to more than $30b worth of damages. The communities of Bento Rodrigues, Paracatu de Baixo and Gesteira were flooded when mine waste from the dam entered the Doce River. Other communities and the environment downstream in the Rio Doce basin were also affected. The Fundão dam was owned and operated by Samarco, a non-operated equal joint venture between BHP and Vale. Last year,…

The Queensland Government has launched a 10% subsidy on below-rail access charges for the next four years for users of the Mount Isa line in an effort to support industry and strengthen freight corridors.The Mount Isa line is a strategic freight corridor connecting the north-west minerals province (NWMP) to the Port of Townsville, playing a critical role in keeping exports moving.According to the Queensland Government, lowering rail transport costs will enable significant cost savings for operators within the region. For example, a rail user moving .5mtpa of minerals concentrates in a bulk operation between Cloncurry and Townsville would save about $1.4m annually and $5.6m over the four years, says the Queensland Government.Queensland Transport and Main Roads Minister Brent Mickelberg says the four-year subsidy is about backing the industries that keep the state moving by delivering practical support they can rely on.“By lowering rail transport costs, we’re making rail a more competitive option for industry, improving freight corridors and supporting growth across the NWMP,” he said.“We know transport costs can be a real pressure on industry in the north and this subsidy will encourage a shift from road to rail, improving safety on our roads and strengthening long-term freight resilience.”Minerals concentrate, fertiliser, acid, mining inputs, refined metals and cattle are all moved along the Mount Isa line.Queensland Natural Resources and Mines Minister Dale Last says the Queensland Government is serious about unlocking the full potential of Queensland’s north-west.“Queensland’s resources are world-class, and demand is strong, with the elevating phosphate to  list of critical minerals late last year,” he said.“But to meet that demand, we need to get our resources to the coast, and that’s where the Government’s Mount Isa rail subsidy kicks in.“The Mount Isa line is the backbone of the north-west economy, moving mineral concentrates, processed metals, fertilisers, phosphate rock and acid to export markets.”

Edith Cowan University (ECU) has found that China’s stringent environmental regulations could potentially be enhancing productivity in the new energy sector.  A report released in collaboration between ECU and Harbin University of Science and Technology, Environmental regulation and firm productivity: evidence from China’s new energy industry, investigated the new energy industry, a strategic industry for China, and the mechanisms through which environmental policies could affect productivity at a firm level.  According to the report, China has seen unprecedented economic development since the launch of market-oriented reforms in late 1978, with real GDP growth averaging over 9% a year.   However, the tremendous economic development has come at the cost of environmental degradation and ecological deterioration. As found in the report,…