MINERAL INDUSTRIES – AUSTRALIA

US subsidies shift global energy game

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 8-Mar-23

BHP CEO Mike Henry says Australia is competing "head-to-head" with other countries in the global transition to renewable energy. He has told a business summit that initiatives such as the Inflation Reduction Act in the US and Canada’s critical minerals strategy are examples of policies that will attract large capital inflows, and Australia must have policies in place to ensure that the nation remains internationally competitive. Fortescue Metals Group founder Andrew Forrest agrees with the importance of the IRA, arguing that companies need to allocate capital where it is most competitive; he adds that this means allocating capital away from Australia into North America.

CORPORATES
BHP GROUP LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG

Miners say they’re pawns in IR inquiry

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 5-Oct-22

The Minerals Council of Australia has criticised a Senate committee’s decision to require industry representatives to appear before its inquiry into a bill on labour hire firms that has been put forward by One Nation’s Malcolm Roberts. MCA CEO Tanya Constable argues that it is not necessary as the industry is already consulting with the federal government regarding its own proposed ‘same job, same pay’ legislation. Labor’s 2022 federal election platform included a commitment to crack down on the use of labour hire workers in sectors such as mining.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, ONE NATION PARTY, AUSTRALIAN LABOR PARTY

Gas, coal and lithium drives export record

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 4-Oct-22

The Department of Industry, Science & Resources has forecast that the value of Australia’s commodity exports will rise to a record $450bn in 2022-23. It had previously forecast that revenue from commodity exports would fall to just $311bn in the current fiscal year, following a record $422bn in 2021-22. The revised forecast has been driven by expectations that the price of LNG, coal and lithium will stay high. Iron ore shipments are forecast to total $119bn in 2022-23.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE AND RESOURCES

Gas companies made almost $1m in donations to Labor and Liberals

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Original article by Royce Kurmelovs
The Guardian Australia – Page: Online : 2-Feb-22

Analysis of the Australian Electoral Commission’s political donation records show that fossil fuel producers and their lobby groups donated a combined $959,115 to the nation’s three largest political parties in 2020-21. The analysis by 350.org shows that the Liberal Party received $506,810 in total, ahead of Labor ($392,354) and the National Party ($59,991). Woodside Petroleum topped the list of donors, contributing a combined $232,250 to the coffers of the Liberal and Labor parties; it was followed by the Minerals Council of Australia, which donated $193,943 in total to the three political parties. The Greens do not accept donations from fossil fuel companies.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIAN ELECTORAL COMMISSION, 350.ORG

Worried miners call for China olive branch

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Original article by Peter Ker
The Australian Financial Review – Page: 27 : 17-Sep-21

The Association of Mining & Exploration Companies is concerned about how China may react to Australia’s new defence pact, and that its response might include sanctions that hurt the mining sector. AMEC CEO Warren Pearce has urged the federal government to make efforts to rebuild its trading relationship with China. He has also urged Australia to extend an ‘olive branch’ to China by stating that it welcomes any foreign investment, so long as it is not in industries that are linked to defence. Members of AMEC include Fortescue Metals Group, OZ Minerals and Roy Hill.

CORPORATES
ASSOCIATION OF MINING AND EXPLORATION COMPANIES, FORTESCUE METALS GROUP LIMITED – ASX FMG, OZ MINERALS LIMITED – ASX OZL, ROY HILL HOLDINGS PTY LTD

Mine export surge holds up economy

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Original article by Angela Macdonald-Smith, John Kehoe
The Australian Financial Review – Page: 1 & 4 : 29-Mar-21

The federal government expects the value of Australia’s resources and energy exports to top $296bn in 2020-21, after a record $291bn in the previous financial year. The surge in export earnings will be driven by iron ore; the Department of Industry, Science, Energy & Resources now expects iron ore earnings to total $136bn, compared with its forecast in December of $123bn for the financial year. However, exports of LNG, thermal coal and coking coal are forecast to be lower in 2020-21. The record resources and energy exports will boost the Budget bottom line, with the full-year deficit now expected to be $150bn.

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

Tough market sours outlook for resources

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Original article by Perry Williams
The Australian – Page: 13 & 16 : 23-Nov-20

A new report from the federal government notes that Australia’s resource and energy sector made final investment decisions on $39bn worth of projects in the year to 31 October, which is 30 per cent higher than previously. The total value of the sector’s investment pipeline has risen to $334bn in 2020. However, the Department of Industry, Science, Energy & Resources’ latest Major Projects report warns that investment is unlikely to return to the levels seen during the last boom in the minerals and energy sector.

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

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

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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

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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

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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