MINING CORPORATIONS – AUSTRALIA

Paladin’s $1.5b uranium deal slowed by national security probe

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Original article by Peter Ker
The Australian Financial Review – Page: Online : 3-Oct-24

Paladin Energy had expected to complete a deal to acquire Toronto-listed Fission Uranium by the end of September. However, the timetable for closing the $1.5bn deal is uncertain following the Canadian government’s decision to initiate a national security review of the transaction. A Chinese state-owned entity has a 25 per cent stake in Paladin’s flagship Langer Heinrich uranium mine in Namibia; another such company holds an 11 per cent stake in Fission and tried to block the Paladin deal.

CORPORATES
PALADIN ENERGY LIMITED – ASX PDN, FISSION URANIUM CORPORATION

Green transition tailwind at our backs: Rio and BHP

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Original article by Cameron England
The Australian – Page: 20 : 2-Oct-24

Rio Tinto Jakob Stausholm says the energy transition is at the heart of the resources group’s strategy. He has used a London Metals Exchange speech to argue that while the transition to net zero emissions is underway, it is not occurring quickly enough; he adds that the energy transition will significantly boost demand for the minerals that Rio Tinto produces, including copper, aluminium, lithium and high-grade iron ore for ‘green’ steel. Meanwhile, BHP has forecast that the energy transition will boost global demand for copper.

CORPORATES
RIO TINTO LIMITED – ASX RIO, BHP GROUP LIMITED – ASX BHP, LONDON METAL EXCHANGE LIMITED

Liontown’s first shipment sets sale for China

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Original article by Chris Herde, Valerina Changarathil
The Australian – Page: 16 : 1-Oct-24

Liontown Resources has advised that the inaugural shipment of spodumene concentrate from its Kathleen Valley lithium project left the Port of Geraldton on Friday. The shipment comprised 11,855 wet metric tonnes of concentrate and is en route to China. Liontown has produced 28,000 WMT of concentrate since production at Kathleen Valley commenced several months ago. Liontown posted a loss of $64.9m for the 2023-24 financial year on Friday, following a loss of $22.2m in 2022-23.

CORPORATES
LIONTOWN RESOURCES LIMITED – ASX LTR

Diversification key to BHP’s future success

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Original article by Cameron England
The Australian – Page: 16 : 25-Sep-24

BHP CEO Mike Henry says the resources group is now o much better placed compared with a few years ago, due to a diversified portfolio of assets than includes iron ore, copper and potash. He notes that demand for all three commodities is expected to be strong in coming years. Henry has also told investors that he is "really optimistic" about BHP’s growth outlook, and notes that there is competition for capital among the group’s various growth options. Meanwhile, CFO Vandita Pant says BHP’s balance sheet is in "fantastic shape".

CORPORATES
BHP GROUP LIMITED – ASX BHP

Green light for three coalmine extensions

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Original article by Colin Packham
The Australian – Page: 1 & 4 : 25-Sep-24

The federal government has approved the expansion of coal mines owned by Whitehaven Coal, MACH Energy and Ashton Coal Operations in the Hunter Valley region of NSW. Environment Minister Tanya Plibersek has emphasised that they are existing projects rather than new ones, and there will be limited clearing of land in order to protect threatened species. However, Carmel Flint from the Lock the Gate ­Alliance says it is shameful that the government has approved the thermal coal min expansions when it is supposed to be committed to a net-zero emissions target of 2050.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, MACH ENERGY AUSTRALIA PTY LTD, ASHTON COAL OPERATIONS PTY LTD, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, LOCK THE GATE ALLIANCE INCORPORATED

Northern Minerals looks beyond China saga with $48m raising

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Original article by Adrian Rauso
The West Australian – Page: Online : 17-Sep-24

Northern Minerals has raised $43m from new and existing investors via a share placement, and it will seek to raise an additional $5m via a share purchase plan. Northern Minerals has indicated that it has sufficient cash to complete the definitive feasibility study for its Browns Range heavy rare earths project in Western Australia. The company aims to make a final investment decision on the project in the first half of 2025. China dominates the heavy rare earths sector, and Northern Minerals recently attracted scrutiny after the federal government ordered several investors with links to China to reduce their stakes in the company.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU

Lithium rollercoaster decade: IGO

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 13-Sep-24

Data from S&P Global Platts shows that spodume was fetching $US730 per tonne on Wednesday, compared with a peak of more than $US8,000 in early 2023. IGO CEO Ivan Vella says investors should expect further volatility in the price of lithium over the long-term. Vella adds that battery minerals will continue to be the focus for IGO, which produces both lithium and nickel. However, IGO aims to diversify its operations by expanding into copper production; this will help offset the "extreme" volatility of the lithium sector and the structural changes in the nickel market caused by Indonesia’s move to ramp up production with Chinese backing.

CORPORATES
IGO LIMITED – ASX IGO, S&P GLOBAL PLATTS

BHP hits back: we paid for half of all hospitals

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Original article by Simon Benson
The Australian – Page: 1 & 4 : 11-Sep-24

BHP’s Australia president Geraldine Slattery has released a statement which highlights the resources group’s economic contribution. She noted that BHP pays an adjusted tax rate of 32 per cent, which rises to 44 per cent when royalties are taken into account. Slattery added that governments in Australia received a total of $14.5bn from BHP in 2023-24, via taxes, royalties and other payments; she noted that this is about half of the federal government’s annual expenditure on public hospitals. Slattery’s comments follow recent animosity between Minerals Council of Australia CEO Tania Constable and the federal government over the latter’s industrial relations reforms.

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

Probe into investors in minerals firm

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Original article by Brad Thompson
The Australian Financial Review – Page: 15 : 4-Sep-24

A spokesman for Treasurer Jim Chalmers says the federal government will undertake a full assessment of whether the Yuxiao Fund has complied with an order to divest its stake in Northern Minerals. The Singapore-registered fund and its associates were directed to sell their equity interest in the critical minerals group due to their Chinese links. Yuxiao has sold its stake to two separate Hong Kong-registered companies, Qogir Trading & Service and Hong Kong Ying Tak, which will also be subject to government scrutiny on national interest grounds.

CORPORATES
NORTHERN MINERALS LIMITED – ASX NTU, YUXIAO FUND, AUSTRALIA. DEPT OF THE TREASURY

Lithium prices have crashed this year, squeezing margins at Australian miners

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Original article by Clint Jasper
abc.net.au – Page: Online : 3-Sep-24

The lithium price peaked in 2022, but the battery mineral has fallen by about 50 per cent in the last 12 months. Demand for lithium remains strong, amid a growing consumer shift to electric vehicles and the push to decarbonise economies by transitioning to renewables such as wind and solar; however, this is being offset by rising global supply, which is expected to increase in coming years as more lithium mines commence production. Core Lithium put its Finnis mine into ‘care and maintenance’ mode earlier in 2024, while Mineral Resources is reducing its lithium output. In contrast, Pilbara Minerals aims to increase lithium production by 50 per cent over the next year: MD Dale Henderson says the long-term outlook for lithium is "fantastic".

CORPORATES
CORE LITHIUM LIMITED – ASX CXO, MINERAL RESOURCES LIMITED – ASX MIN, PILBARA MINERALS LIMITED – ASX PLS