MINING CORPORATIONS – UNITED STATES

Breaking China’s rare earth control

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Original article by Jon Emont
The Australian – Page: 16 : 16-Jul-25

US-based MP Materials aims to challenge China’s dominance of the global rare earths market and the magnets that are made from rare earth elements. China currently produces around 90 per cent of the world’s rare-earth magnets, and imposed export controls on such products earlier this year. MP Materials will expand its existing plant at Fort Worth in Texas, with the aim of ramping up production of magnets from just 1,000 tonnes per annum to 10,000 tonnes. The Department of Defense recently agreed to invest hundreds of millions of dollars in MP Materials, and will become its largest shareholder

CORPORATES
MP MATERIALS CORPORATION, UNITED STATES. DEPT OF DEFENSE

Lynas’ near M&A target finds backer in Hancock

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Original article by Jemima Whyte
The Australian Financial Review – Page: 12 : 10-Apr-24

US-based rare earths producer MP Materials has disclosed that its shareholders include Hancock Prospecting. The Gina Rinehart-controlled company’s 5.3 per cent stake in MP Materials is worth about $US150m, based on the company’s current share price. Hancock’s stake was disclosed after MP Materials undertook a share buyback. Hancock also holds stakes in Australian-listed companies Brazilian Rare Earths and Arafura Rare Earths. MP Materials recently held merger talks with Lynas Rare Earths, although a deal did not eventuate.

CORPORATES
MP MATERIALS CORPORATION, HANCOCK PROSPECTING PTY LTD, LYNAS RARE EARTHS LIMITED – ASX LYC, BRAZILIAN RARE EARTHS LIMITED – ASX BRE, ARAFURA RARE EARTHS LIMITED – ASX ARU

Allkem shareholders green-light $9.7b Livent merger

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Original article by Elouise Fowler
The Australian Financial Review – Page: 13 : 20-Dec-23

Some 89 per cent of proxy votes cast at Allkem’s shareholders meeting on Tuesday were in favour of the proposed merger with US-based Livent. The latter’s shareholders will shortly vote on the deal; the combined entity will be called Arcadium Lithium and is set to be one of the world’s biggest producers of the battery mineral. It will have assets in Western Australia, Canada and Argentina. Allkem’s chairman will take up the same role at Arcadium, while Livent’s Paul Graves will be CEO.

CORPORATES
ALLKEM LIMITED – ASX AKE, LIVENT INCORPORATED, ARCADIUM LITHIUM

WA environment watchdog to scrutinise Alcoa’s jarrah forest mining

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Original article by Peter Milne
WAtoday – Page: Online : 19-Dec-23

Western Australia’s Environmental Protection Authority has advised that it will undertake an extensive assessment of Alcoa’s bauxite mining plans over the next four years. The public environmental review will examine the impact of bauxite mining in jarrah forests in WA’s south-west, after the issue was referred to the EPA by environmental group WA Forest Alliance. The state government has also previously raised concerns about the potential impact of the bauxite mining on Perth’s water supply.

CORPORATES
ALCOA INCORPORATED, WESTERN AUSTRALIA. ENVIRONMENTAL PROTECTION AUTHORITY

US miner plotting Australian rare earths processing plant

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Original article by Peter Ker
The Australian Financial Review – Page: 18 : 29-Nov-23

US-based mineral sands producer Tronox may build a rare earths processing plant in Western Australia. The company has approached the state government about the plant, which would process a waste by-product of mineral sands mining known as monazite. Tronox proposes to stockpile monazite in WA for 3-5 years to use as feedstock for the plant, while sources have suggested that it may also import monazite from its South African operations to be processed. Tronox has mineral sands mines in WA and NSW. Iluka Resources is also building a plant to process monazite that it has been stockpiling for three decades.

CORPORATES
TRONOX INCORPORATED

Telfer ‘a strategic asset for Newmont

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Original article by Nick Evans
The Australian – Page: 16 : 8-Nov-23

Newmont Corporation’s CEO Tom Parker has emphasised that the US-based company is committed to retaining its secondary listing on the Australian sharemarket. He has also downplayed speculation that the Telfer gold and copper mine in Western Australia is among the assets that Newmont will divest following its acquisition of Newcrest Mining. He has highlighted the strategic potential of Telfer and its associated infrastructure in the northern Pilbara region. Parker adds that Newmont has moved quickly to appoint its own managers to all of Newcrest’s operating mines, while Newcrest’s top executives have left the company.

CORPORATES
NEWMONT CORPORATION – ASX NEM, NEWCREST MINING LIMITED

Alcoa mining threatens Perth’s drinking water

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Original article by Peter Milne
The Age – Page: Online : 8-Feb-23

There is growing concern within the Western Australian government about the potential contamination of Perth’s water supply from bauxite mining. Internal documents show that the government is concerned about the potential for sediment from Alcoa’s bauxite mine to contaminate the Serpentine Dam, given that mining occurs just 300 metres from the water’s edge. Serpentine is Perth’s biggest dam, and changes to Alcoa’s mining methods about five years ago have increased the risk of sediment flowing into the dam.

CORPORATES
ALCOA INCORPORATED

Revitalised Peabody sees wider role for coal

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Original article by Matt Chambers
The Australian – Page: 17 & 20 : 17-Apr-18

US-based Peabody Energy has a market capitalisation of around $US4.7bn ($A6bn) just over a year after it emerged from Chapter 11 bankruptcy protection. Peabody’s Australian operations in particular have performed well in the last year, having achieved a pre-tax operating profit margins of nearly 40 per cent in the March quarter. There has been speculation about potential acquisitions, but Peabody CEO Glenn Kellow says the company’s priority is to return capital to investors via share buybacks and dividends.

CORPORATES
PEABODY ENERGY CORPORATION, PEABODY ENERGY AUSTRALIA COAL PTY LTD, ELLIOTT MANAGEMENT CORPORATION, BHP BILLITON LIMITED – ASX BHP, RIO TINTO LIMITED – ASX RIO, REALM RESOURCES LIMITED – ASX RRP, AGL ENERGY LIMITED – ASX AGL, NEW YORK STOCK EXCHANGE

Aussie mine focus as Peabody beats bankruptcy

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Original article by Matt Chambers
The Australian – Page: 18 : 10-Apr-17

Peabody Energy Corporation has been reinstated to the New York Stock Exchange after emerging from Chapter 11 bankruptcy protection. Peabody has reduced costs, sold or shut down coal mines and slashed its debt by $US5bn since filing for bankruptcy in April 2016. CEO Glenn Kellow has stressed the importance of Peabody’s coking and thermal coal mines in Queensland and New South Wales, noting that its Australian operations provides the company with access to the Asia-Pacific market. He adds that Australia should consider building clean coal power stations.

CORPORATES
PEABODY ENERGY CORPORATION, NEW YORK STOCK EXCHANGE, BHP BILLITON LIMITED – ASX BHP, SOUTH32 LIMITED – ASX S32, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Rio Tinto hit with more delay for Indo copper

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Original article by Peter Ker
The Australian Financial Review – Page: 13 & 18 : 6-Feb-17

Freeport-McMoran has advised that Rio Tinto’s share of production from the Grasberg copper and gold mine is unlikely to increase until at least 2023. Rio was slated to receive 40 per cent of the Indonesian mine’s output from 2021 under an agreement between the two companies, but Freeport has attributed the expected delay to factors such as a series of interruptions to production at the mine in the last several years. Meanwhile, Rio is forecast to post EBITDA of $US13bn and revenue of $US34.3bn for calendar 2016.

CORPORATES
RIO TINTO LIMITED – ASX RIO, FREEPORT-McMORAN COPPER AND GOLD INCORPORATED, CREDIT SUISSE (AUSTRALIA) LIMITED, BLOOMBERG LP