Australia goes “back-to-basics” for a clean energy future
Australian Mining Review
The Australian Mining Review is a monthly feature-based publication providing news on issues affecting the industry.
This week, Chamber of Minerals and Energy of WA (CMEWA) has released its Federal Government Pre-Budget Submission (PBS), a blueprint with more than 90 recommendations on strategies to reverse falling productivity and attract the investment required for Australia to maintain its standing as a resources powerhouse.
The CMEWA calls this a “back-to-basics” approach which prioritises lowering costs and accelerating project assessments, complemented by targeted support for emerging industries critical to the global energy transition.
The PBS highlights falling commodity prices, rising global competition and regulatory complexity and uncertainty as risk factors of note to the mining industry.
According to the PBS, Australia’s overall productivity growth has been poor over recent decades and living standards as measured by GDP per capita have also declined for the past seven consecutive quarters. The CMEWA says urgent action to drive greater productivity is required, citing the Federal Government’s underlying cash balance which is forecast to be in deficit for the coming decade.
But the future is bright, with a $119b investment pipeline of potential for WA resources projects alone.
The key recommendations in the PBS concern the following policy areas:
·???????? Competitive fiscal settings
·???????? Efficiency in regulation
·???????? Energy security and transition
·???????? A safe, diverse and productive workforce
·???????? Regional economic development
With Federal Parliament scheduled to sit for two weeks in February, the CMEWA has called for a focus on legislating proposed production tax incentives for critical mineral refining and hydrogen production.
CMEWA has also recommended developing a new green iron production tax credit that is stackable with the hydrogen production tax incentive to further encourage investment in one of Australia’s most promising decarbonisation initiatives.
Other recommendations include cutting the corporate tax rate to a more globally-competitive 25% — or introducing a broad-based, permanent investment allowance — and further Federal investment in drastically speeding up the build-out of low-emission, reliable and affordable electricity infrastructure in WA.
To read more on Australian mining’s clean energy future, check out the ‘Nova sets its sights on sustainability’ feature from our February paper.
Fortescue first to back fossil fuel treaty
Fortescue (ASX: FMG) has formally endorsed the proposed Fossil Fuel Non-Proliferation Treaty, an initiative committed to setting clear deadlines for the phase out of fossil fuels globally.
It is the largest global company and the first major industrial business to endorse the initiative.
MinRes milestone at Onslow Iron
Mineral Resources Limited (MinRes) (ASX: MIN) has completed the final crushing plant construction and truck load out circuit operational at Ken’s Bore at Onslow Iron in the West Pilbara region of WA.
The project now boasts three NextGen modular crushing plants, designed and developed in-house.
Liebherr-Australia dozer delivery
Five PR 776s have been delivered to a mine site in WA for Liebherr-Australia 's new partnership with Western Plant Hire (WPH).
Through Barrooghumba WPH JV, one of WPH’s fully incorporated 50-50 joint ventures with local Indigenous businesses and their communities, these machines have been installed at a mine in the Pilbara.
领英推荐
WA miners’ carbon free future
Mine sites in WA could be fully powered by renewable energy in a few years, Edith Cowan University (ECU) researchers found.
ECU PhD student Mehrdad Ghahramani ’s research evaluates cost-performance trade-offs in hybrid energy systems, focusing on risk management under various uncertainty scenarios.
Barminco increases contract with Regis
Perenti (ASX: PRN) announces Barminco and Regis Resources Ltd (ASX: RRL) are extending their current contract for the provision of underground mining services at the Duketon operations, comprising both the Rosemont and Garden Well underground mines in the Goldfield’s region of WA.
Providing long-term visibility and certainty for both parties, the initial alliance-style agreement of three years will extend to an additional contract term of 12 months until March 30, 2028.
MCA: building mining’s next generation
The Minerals Council of Australia has concluded its inaugural Minerals Industry Experience (MiEX) Program, designed to provide hands-on exposure to the minerals industry through a two-week immersive experience.?
This innovative program has set a new benchmark in addressing the critical STEM talent shortage in Australia’s minerals industry by offering immersive, paid experiences to first-year university students.
Read more Mining Stories That Matter
Read the February edition here
Read this exclusive feature in our February paper
?
Nova sets its sights on sustainability
As the demand for battery minerals remains high, IGO Ltd (ASX: IGO) continues to make strides in its quest to discover, develop and deliver products critical to a clean energy future. Whether it’s the electrification of transport, energy storage, or renewable energy generation, IGO is investing in its mining assets to meet the world’s appetite for critical minerals.
The Nova Operation is the cornerstone of IGO’s clean energy transition. Situated in WA’s Fraser Range, about 360km southeast of Kalgoorlie, the deposit reflects the company’s steadfast commitment to sustainability and low-impact mining practices.
Since reaching nameplate production in December 2017, Nova has continued to punch above its weight. Although it achieved a strong total production of 20,806t of nickel, 9,922t of copper and 735t of cobalt in FY24, it’s the investment in sustainability that has put the deposit on the world map.
The FY24 period saw IGO further progress its transition into a significant explorer and producer of the metals and minerals required for the expanding clean energy industry, such as the electric vehicle and energy storage markets.