Australia/New Caledonia/Papua New Guinea Mining – Page 42

Rare earths opportunity for PM – by Tony Boyd (Australian Financial Review – June 28, 2019)

June 27, 2019

https://www.afr.com/

Rare earths should be a topic of conversation when Prime Minister Scott Morrison has bilateral meetings with US President Donald Trump and Japanese Prime Minister Shinzo Abe at the G20 Summit in Osaka over the next two days.

A discussion about rare earths has two distinct advantages for Morrison. First, it’s an opportunity to remind Trump and Abe of the increasingly important economic contribution Australia is making to the reliable and affordable supply of these strategic minerals to the US and Japan through Lynas Corporation.

Second, it’s an opportunity to draw the alignment between the economic benefits of the free trade between the three countries and the mutual geopolitical interest the US and Japan have in securing supplies of products critical to the technology, automotive and military industries.

Soaring iron ore and gold prices boost WA’s economic outlook – by Frances Bell (Australian Broadcasting Corporation – June 24, 2019)

June 24, 2019

https://www.abc.net.au/

A predicted “mini gold rush” in Western Australia, combined with skyrocketing iron ore prices, is renewing optimism about the state’s long-subdued economy.

The price of gold in Australian dollars has reached a record high, hitting $2,000 an ounce for the first time last week. The precious metal also broke through $US1,400 ($2,014) an ounce for the first time in almost six years.

“Psychologically it’s a very important level to have broken through,” Katana Asset Management portfolio manager Romano Sala Tenna said. He said the price increase was fuelled by demand from central banks, which were buying gold as a store of value, as countries such as the US and China diluted their currencies.

Lynas optimistic about rare earths boom (Australian Mining – June 24, 2019)

June 24, 2019

https://www.australianmining.com.au/

Lynas Corp has updated its 2025 growth plans, detailing a positive outlook on the rare earths market and regulatory issues in Malaysia.

The shareholder update emphasised the boom of rare earths in response to “global macroeconomic issues”, including the United States-China trade war that led to increased interest in Australian companies as the US looks to diversify supply sources.

It also reported that despite short term increases in the market, including prices for neodymium-praseodymium (NdPr) increasing by 40 per cent over the past 60 days, the company “remains focussed on longer term trends.”

OPINION: Enormous lithium waste dump plan shows how shamefully backward we are – by Emma Young (Sydney Morning Herald – June 24, 2019)

June 24, 2019

https://www.smh.com.au/

We are all – well, all of us who are privileged enough – existing on a spectrum somewhere between “concerned” and “downright panicking” about human impact on the environment.

We look forward to the day our economy transitions to 100 per cent renewable energy, the sun and wind power our homes and lithium batteries store this energy to be used when the wind is not blowing or the sun is not shining. But here’s the rub: the lithium used to make these batteries must be torn from underground, just like oil, gas and coal.

Western Australia holds some of the world’s richest known lithium deposits and now has an emerging industry to process that lithium here, not just ship it to China as previously done. It’s part of a plan to make us more than just the world’s quarry; a bigger player in an industry promising big money, and bring jobs and industry to the South West.

The Winners and Losers From Surging Iron Ore Prices – by Michael Msika (Bloomberg/Yahoo Finance – June 21, 2019)

June 21, 2019

https://finance.yahoo.com/

(Bloomberg) — In the world of metals and mining, sometimes it’s better to sell the raw product rather than the finished one.

This seems to be a lesson for investors who chose to hold shares in ArcelorMittal rather than Rio Tinto Group this year. Despite nagging trade tensions and fears about global growth, Rio is up 30% in 2019, while the world’s biggest steelmaker has dropped 16%.

Global diversified miners have rewarded investors with record payouts and benefited from soaring iron-ore prices due to the supply concerns that followed Vale SA’s dam disaster in January. At the same time, Chinese mills have continued to set new production records, consuming more of the steelmaking ingredient.

Column: Australian resource companies are becoming renewable energy believers – by Clyde Russell (Reuters India – June 20, 2019)

June 21, 2019

https://in.reuters.com/

LAUNCESTON, Australia (Reuters) – It’s not quite yet a flood but Australian resource companies are increasingly embracing renewable energies into their mining and natural gas operations even in the face of a federal government that veers toward climate scepticism.

Among recent developments are moves by Rio Tinto to convert its iron ore trains to hybrid power, the commissioning of a solar power plant at an oil and gas facility operated by Santos in South Australia state, and battery storage being integrated into ConocoPhillips’ liquefied natural gas (LNG) plant in Darwin.

There are several other projects being undertaken or in place already, and it seems that momentum is growing among companies to look at ways of reducing the use of fossil fuels in mining and oil and gas operations.

COLUMN-Myths and reality: Adani’s Australian coal mine torches rationality – by Clyde Russell (Reuters U.S. – June 16, 2019)

June 18, 2019

https://www.reuters.com/

LAUNCESTON, Australia, June 17 (Reuters) – Adani Enterprises’ Carmichael coal mine in Australia is assuming mythical status way out of proportion to its actual significance, even before meaningful construction starts on the controversial project.

For its opponents, the mine should never be built because it is not supported by a majority of Australians and aims to send coal to India, a country that says it doesn’t want or need imports of the fuel.

For its backers, the project is proof that coal remains a viable global industry and the opening of a new basin in central Queensland state will provide jobs in a region that needs them and royalty revenue to a grateful government.

Rare earths minerals a global issue, says Defence Minister – by Phillip Coorey (Australian Financial Review – June 13, 2019)

June 13, 2019

https://www.afr.com/

Defence Minister Linda Reynolds says access to rare earths minerals has become an issue of strategic importance for much of the western world, along with the Pacific allies of South Korea and Japan.

Following revelations Australia was working with the United States to secure a supply of the minerals and reduce Chinese dominance, Senator Reynolds confirmed there had been discussions at senior security levels of government “for some time”.

“There is increasing awareness globally on the importance of strategic metals and rare earth and Australia has been having discussions. “My colleagues, my ministerial colleagues have been looking at this for some time.

US, CANADA, AND AUSTRALIA TEAM UP TO MITIGATE METAL SHORTAGES CAUSED BY SHIFT TOWARDS CLEAN TECHNOLOGY – by Staff (PV Buzz.com – June 12, 2019)

June 13, 2019

https://pvbuzz.com/

A shift in the global energy system away from fossil fuels is expected to result in steep increases in demand for some metals and other materials

Concern grows over the increase in consumption of some metals to support the shift towards clean energy and electric vehicles.

Clean energy technologies often rely on certain key metals which will be needed if they are to continue to expand. Two metals, in particular, lithium and cobalt, have seen supply chain fears in recent years, although many other metals are used.

In order to mitigate this problem, the U.S, Canada, and Australia have launched an international effort to help find new deposits of these key minerals.

Adani could be ‘ice-breaker’ for six more proposed Galilee Basin mines, resources body says – by Jemima Burt (Australian Broadcasting Corporation – June 11, 2019)

June 12, 2019

https://www.abc.net.au/

A decision on the Adani groundwater management plan is set down for tomorrow with environmentalists saying if the Queensland Government gives the green light it will set a precedent for six other mines also planned for the region and allow Adani to break ground within weeks.

The Queensland Resources Council (QRC) said the other projects would have a “much easier run” if the rail line was already established and the environmental approvals had been cleared. QRC chief executive Ian Macfarlane said Adani was “actually the ice-breaker that will lay down those baselines and will provide the infrastructure”.

“What’s going to happen with the groundwater application and its potential approval is that any further applicants will have not only the infrastructure to get the coal out because the railway line will be there,” he said.

Rare gold specimens unearthed at WA mine compared to ‘finding a needle in a haystack’ – by Jarrod Lucas (Australian Broadcasting Corporation – June 5, 2019)

June 6, 2019

https://www.abc.net.au/

They say lightning never strikes twice, but spectacular gold specimens have been unearthed at a Western Australian gold mine for the second time in nine months.

Another pocket of rare visible gold has been discovered at the Beta Hunt mine near the historic mining town of Kambalda, 630 kilometres east of Perth.

Underground miners have recovered an estimated 987 ounces of coarse gold in 238 kilograms of rock since Saturday — worth about $1.9 million at today’s gold price.

World’s big lithium miners want on the battery bandwagon – by David Stringer and Laura Millan Lombrana (Bloomberg/Financial Post – June 4, 2019)

June 5, 2019

https://business.financialpost.com/

The race by Tesla Inc., Samsung SDI Co. and other technology giants to secure supplies of lithium — a key ingredient in batteries for electric vehicles and smartphones — is creating a unique chance for two global mining superpowers to reap more value from their natural resources.

Australia and Chile are looking to lithium to help them escape a cycle that for decades has had the two nations digging out minerals such as iron ore and copper, only to see them refined and turned into valuable products abroad.

Almost three-quarters of the world’s lithium raw materials come from mines in Australia or briny lakes in Chile, giving them leverage with customers scrambling to tie up supplies. The mining nations hope to have refining and manufacturing plants that could help kick start domestic technology industries.

If the Adani mine gets built, it will be thanks to politicians, on two continents – by Quentin Beresford (The Conversation – May 30, 2019)

May 31, 2019

https://theconversation.com/

With the final approval of the Adani Carmichael coal mine now apparently imminent, it is important to ask how it has seemingly defied the assessment of experts that it is not financially viable.

After all, it’s only a week since the Chinese owner of another mine planned for the Galilee Basin, the China Stone mine, suspended its bid for mining leases because of commercial considerations.

The numbers appear not to add up because the location is remote, the coal would be expensive to transport, and the price is expected to fall. But such a purely financial analysis ignores the political forces driving the development of the coal industry in both India and Australia.

New Papua New Guinea leader a wildcard in Pacific power play – by Tom Westbrook and Colin Packham (Reuters U.S. – May 31, 2019)

May 31, 2019

https://www.reuters.com/

SYDNEY (Reuters) – When Papua New Guinea’s lawmakers started to shift their weight in their parliamentary seats in preparation for a tense vote on a new prime minister on Thursday, James Marape looked uninterested, his head lowered, fingers tapping his phone.

The former finance minister later explained he was preparing notes for a speech, should numbers fall his way.

They did, and the notes turned into a powerful series of addresses which signaled a desire to reset how the archipelago conducts business and diplomacy amid a strategic battle between China and the United States for influence in the Pacific.

New PNG leader “taking back” economy, puts resources firms on notice – by Tom Westbrook, Jonathan Barrett and Sonali Paul (Reuters Africa – May 30, 2019)

May 30, 2019

https://af.reuters.com/

SYDNEY/BRISBANE (Reuters) – Papua New Guinea’s new prime minister pledged on Thursday to “tweak and turn” laws governing how natural resources are extracted to help lift the vast South Pacific archipelago out of poverty.

James Marape, a former finance minister who became leader after winning a vote in parliament, put some of the world’s biggest resources companies on notice over a perceived lack of wealth flowing from their projects back to communities.

Marape, who hails from PNG’s poor but gas-rich highlands, had even quit the government in April after questioning a deal with France’s Total, which allows it, Oil Search Ltd and ExxonMobil Corp to begin work on a $13 billion plan to double gas exports.