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Victorian Budget brings in mixed mining reviews

May 13, 2024

Victoria’s 2024–25 Budget was released yesterday, with industry players reacting with mixed reviews.


The Minerals Council of Australia (MCA) said the Budget provides some positive developments for Victoria’s mining industry, but warned a lack of funding for smaller projects could prove costly.


In particular, the MCA highlighted the absence of funding for the critical minerals grants program announced in the 2022 Budget.


“Modest grants for exploration, research, and innovative technologies are essential to ensure Victoria capitalises on opportunities to integrate into renewable energy and high-tech supply chains,” the MCA said.


However, the Budget has allocated $44 million in base funding to help grow the Victorian critical minerals industry, which the MCA said is a step in the right direction.


“MCA Victoria acknowledges the $44 million in base funding provided in the Budget for Resources Victoria to help grow the Victorian critical minerals industry and fund an efficient regulator, for which the MCA has long advocated,” the MCA said.


The Association of Mining and Exploration Companies (AMEC) has welcomed the Victorian Government’s decision to make no changes to the existing royalties scheme.


“The2024-25 Victorian Budget makes no changes to the existing royalties scheme, and no increases in fees and charges for miners and explorers, but there remains a lack of clarity around the state’s critical minerals ambitions and objectives,” AMEC chief executive officer Warren Pearce said.


“With $44.7 million in new sector funding, this budget builds on last years $23.3 million for the Victorian resources industry to continue building regulator capability and approvals capacity and efficiency, along with ensuring delivery of its regulatory reform amendments.”


Like the MCA, AMEC highlighted the need for more critical minerals funding.


“While this should help Government be more efficient, we would like to see more real support for critical minerals,” Pearce said.


“Unlike most other jurisdictions in Australia, Victoria has yet to outline a prescriptive critical minerals strategy, despite having a considerable mineral endowment including antimony, lithium, copper, tungsten, tin and mineral sands (including rare earth elements).”





Source: https://www.australianmining.com.au/victorian-budget-brings-in-mixed-mining-reviews/

Queensland breaks ground on CopperString

July 9, 2024
The Queensland Government has broken ground on the first construction works of the $5 billion CopperString project. Work commenced yesterday on the CopperString projects’ first and largest workforce accommodation site. The site will house those charged with building the project’s 840km high-voltage transmission line that will connect Mount Isa to the ‘SuperGrid’ for the first time. The workforce accommodation will house up to 550 construction workers at its peak. These workers will construct a nearby substation and progress early stages of the transmission line development heading west from Hughenden out to Mount Isa. Supercharging the state’s north-west aims to unlock Queensland’s $500 billion north-west minerals province. It’s expected CopperString will be complete in 2029, weather and construction conditions permitting. Queensland Premier Stephen Miles said CopperString is the biggest ever expansion to the state’s publicly owned energy system. “Queenslanders deserve cheaper, cleaner, more reliable energy – to power their homes, our schools, hospitals, shopping centres and more,” Miles said . “CopperString will be the catalyst for transforming Queensland’s north and north-west – opening up mining opportunities, creating more jobs and unlocking critical minerals which will be essential in developing renewable technologies. “This is the start of a long and exciting future for the region and our state.” Commencing later this month, project owner, Queensland Powerlink, will be offering free sessions for businesses along the CopperString corridor to build their capabilities. The program includes five workshops and one-on-one assistance to help businesses build confidence to bid on major projects and supply chain work in the region. “All of North Queensland understands the immense opportunities that CopperString presents for local jobs both directly and indirectly which is why this is such a momentous day,” Resources and Critical Minerals Minister Scott Stewart said.  “Critical minerals are the next big boom for the resources industry and the feedback I’ve had from companies is that this project is key to unlocking those opportunities.” Source: https://www.australianmining.com.au/queensland-breaks-ground-on-copperstring/

Showcasing the best in underground mining

July 8, 2024
Underground mines are busy places, and it’s vital companies are on top of their processes to enable an efficient and safe underground operation. Whether it’s having the best equipment to drive higher production, maximise return on investment, minimise waste or keep workers out of harm’s way, mining companies benefit from understanding and investing in the right underground technologies. Source: https://www.australianmining.com.au/showcasing-the-best-in-underground-mining/

BHP goes green at ‘world’s largest’ copper mine

July 8, 2024
BHP has started environmental processing to have the transport at its Escondida copper mine in Chile transitioned to an electric trolley system. The Big Australian will invest around $US250 million ($371.6 million) in the project at Escondida, which it owns in a joint venture with Rio Tinto. The funds will go towards installing key infrastructure to electrically assist the movement of extraction trucks in areas where the highest fuel consumption currently takes place. BHP has submitted an environmental impact statement to the Environmental Impact Assessment System in Chile. “The electric trolley system is one of the initiatives with which we seek to move towards a safer and more sustainable way of operating hand in hand with technology,” BHP Escondida president Alejandro Tapia said . “This project will allow us to reduce the fuel consumption of our extraction trucks and thus advance our goal of net-zero operational greenhouse gas emissions by 2050.” The project includes the construction of a new electrical substation and transmission lines both inside and around the Escondida Norte pit. These facilities will electrically assist the movement of trucks inside the mine in the areas where they go up loaded with ore and, consequently, consume more fuel. With this new technology, instead of using diesel, they will be propelled by electrical power, reducing greenhouse gas emissions and improving productivity associated with truck performance given the higher travel speed. Once construction kicks off up to 160 jobs are expected to be created. The trolley project is in addition to other technological transformation initiatives that the company maintains in different stages of study and execution, including the progressive incorporation of autonomy in its mining equipment.  To date, Escondida has six autonomous trucks in full operation and by 2025 it expects to have the largest fleet of autonomous equipment in South America. Source: https://www.australianmining.com.au/bhp-goes-green-at-worlds-largest-copper-mine/
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