Industry on a high as Diggers & Dealers conference kicks off in Kalgoorlie

Original article by Nick Evans
The Australian – Page: 16 : 12-Oct-20

The annual Diggers and Dealers conference will commence in Kalgoorlie on 12 October and is being held at a time of great optimism within the minerals sector. A number of major discoveries have been made by both large and small companies in the past two years, including Rio Tinto’s Winu discovery and De Grey Mining’s new gold project in Western Australia’s Pilbara region. The conference’s opening comes just days after Northern Star Resources and Saracen Mineral Holdings announced a $16 billion merger.

CORPORATES
DIGGERS AND DEALERS FORUM, RIO TINTO LIMITED – ASX RIO, DE GREY MINING LIMITED – ASX DEG, NORTHERN STAR RESOURCES LIMITED – ASX NST, SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, NEWCREST MINING LIMITED – ASX NCM, ALKANE RESOURCES LIMITED – ASX ALK, CHALICE GOLD MINES LIMITED – ASX CHN, STAVELY MINERALS LIMITED – ASX SVY, ST BARBARA LIMITED – ASX SBM, REGIS RESOURCES LIMITED – ASX RRL, SILVER LAKE RESOURCES LIMITED – ASX SLR, RAMELIUS RESOURCES LIMITED – ASX RMS, GOLD ROAD RESOURCES LIMITED – ASX GOR, BELLEVUE GOLD LIMITED – ASX BGL, ENCOUNTER RESOURCES LIMITED – ASX ENR, IGO LIMITED – ASX IGO, BHP GROUP LIMITED – ASX BHP

Resources exports to turn south

Original article by Perry Williams
The Australian – Page: 13 & 16 : 29-Jun-20

The federal government expects Australia’s mining and energy export earnings to fall 10 per cent to $263bn in 2020-21, after rising to a record $293bn in the 2019-20 financial year. The Department of Industry, Science, Energy & Resources has advised that iron ore export earnings are likely to have met its forecast of $100bn in 2019-20, given the resilience of the steel input’s price during the coronavirus pandemic. The department expects gold export earnings to reach a record $32bn in 2020-21, although revenue from LNG and coal exports is forecast to fall.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES

Big miners back a greener future

Original article by Geoff Chambers
The Australian – Page: 1 & 6 : 22-Jun-20

The Minerals Council of Australia will release details of a three-year climate action plan on 22 June, as well as endorsing the Paris agreement. The MCA’s climate plan includes the use of renewable energy and electric vehicles at mine sites, and it has been put together in response to a climate change backlash from fund managers and shareholders of MCA member companies. As to the issue of zero net emissions targets, MCA CEO Tania Constable says there is no set sector-wide deadline, with member companies having their own timeframes.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO

Coal vital to post-virus boost: minister

Original article by Peter Ker
The Australian Financial Review – Page: 10 : 6-May-20

Federal Resources Minister Keith Pitt has stressed the importance of resources projects to the Australian economy as it recovers from the coronavirus pandemic. He has urged banks to continue to support coal projects, as a growing number of lenders move to reduce their exposure to the sector. Pitt has also emphasised the need to address the issue of ‘green lawfare’, which resulted in Adani’s Carmichael coal project being subject to multiple legal challenges.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES, ADANI MINING PTY LTD

Miners seek assurance on fuel tax break

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 21-Apr-20

The resources sector is lobbying the federal government not to touch the diesel excise rebate as it looks at ways to repay the cost of the COVID-19 pandemic. The rebate is worth around $2 billion to the resources sector; it is also received by other industries, including fishing and agriculture. Minerals Council of Australia CEO Tania Constable contends that imposing higher taxes to pay for the cost of COVID-19 will harm jobs and curtail growth, while she notes that both the Henry tax review and Treasury are of the view that the fuel tax credit is sound economic policy.

CORPORATES
MINERAL COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE TREASURY

Gold beats coal as iron ore drives export record

Original article by Nick Evans
The Australian – Page: 13 & 18 : 19-Dec-19

The Department of Industry, Innovation & Science now expects Australia’s resources exports to top $281bn in 2019-20. This is $4bn lower than was forecast in June, although it will still be a new record. Resources exports are forecast to fall to around $256bn in 2020-21, due to factors such as an expected fall in the iron ore price and the resumption of shipments from Brazil. This will see Australia’s iron ore exports fall to $65.5bn in 2020-21, compared with expectations of $84bn in the current financial year. Gold exports are tipped to reach a new high of $27.8bn in 2019-20, before falling to $25.9bn in 2020-21.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

Big projects to get strike protection

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Oct-19

Industrial Relations Minister Christian Porter has urged Labor to support legislation to allow workplace agreements to apply for the entire construction phase of greenfields projects. The move is aimed at preventing unions and workers from disrupting a resources, energy or infrastructure project by seeking improved wages and conditions if an enterprise agreement expires in the middle of the construction phase. The Construction, Forestry, Maritime, Mining & Energy Union’s Dave Noonan contends that it is unfair to lock in terms and conditions that could last for 5-10 years.

CORPORATES
AUSTRALIA. DEPT OF EMPLOYMENT, SKILLS, SMALL AND FAMILY BUSINESS, AUSTRALIAN LABOR PARTY, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, CHEVRON CORPORATION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Push to break China metals dominance

Original article by Nick Evans
The Australian – Page: 17 & 20 : 3-Sep-19

A new report from the Department of Industry notes that Australia is one of the six leading sources of so-called critical minerals, such as rare-earth elements, cobalt, niobium, antimony, magnesium and tungsten. Cobalt and niobium are the only two minerals identified by the Department for which China is the major supplier and processor. Resources Minister Matt Canavan has highlighted the growth opportunities for Australia in terms of global supply of critical minerals. However, commodity prices and production costs will be the key issues for Australian miners.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, LYNAS CORPORATION LIMITED – ASX LYC

Resource export earnings surge

Original article by Perry Williams
The Australian – Page: 17 & 21 : 1-Jul-19

The Department of Industry estimates that Australia’s resources export earnings reached a new high of $275bn in 2018-19. It forecasts that this will top $285bn in 2019-20, before falling to $260bn in 2020-21 as commodity prices ease. Iron ore exports are forecast to reach a record $79bn in 2019-20, up from $75bn in 2018-19, and ease to $65bn in 2020-21. Resources Minister Matt Canavan notes that mining investment has fallen in the last five years, and he says governments in Australia should capitalise on high commodity prices by reducing the regulatory barriers to investing in the sector.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, ADANI MINING PTY LTD

Belts tighten across exploration sector: BDO

Original article by Peter Ker
The Australian Financial Review – Page: 30 : 11-Jun-19

ASX-listed companies spent $363 million on exploration for minerals, oil and gas in the first three months of 2019, according to accounting firm BDO Global. It was the lowest quarterly exploration expenditure since the three months to June 2017, when just $338 million was outlayed. BDO also found that the average cash balance among exploration companies had declined from $5.79 million to $5.62 million, while the number of exploration companies listed on the ASX is on the decline.

CORPORATES
BDO GLOBAL, BHP GROUP LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO