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968 Posts, Pagina: « 1 2 3 4 5 6 ... 41 42 43 44 45 46 47 48 49 » | Laatste
Gina Rinehart’s Hancock Prospecting keeps profit above $5b despite weaker iron ore prices
Tue, 31 October 2023 7:00AM

Gina Rinehart’s Hancock Prospecting has delivered another mammoth profit as Australia’s richest person continues to diversify her interests beyond Hancock’s well-oiled iron ore cash machine.

Hancock delivered revenue of $13.2 billion for the 2023 financial year, down from $14.6b in the previous year, which Hancock said was due to weaker iron ore prices. This crystallised in a profit of $5b for the year ended June 30, compared to $5.8b in the prior corresponding period.

Hancock said it had maintained its place among Australia’s largest corporate taxpayers, with about $3.7b in total taxes paid during the year.

Last week Hancock’s crown jewel, the Roy Hill mine, unveiled record annual production of 63.3 million tonnes for FY2023. Hancock is upgrading key infrastructure at Roy Hill — including an expansion to its autonomous haulage fleet — to keep production above 60mtpa, as the mine approaches the end of its life over the next decade.

At the Rio Tinto-operated Hope Downs mine, studies for the development of the Hope 2 and Bedded Hilltop deposits and the extension of Hope 4 are under way. Hancock has a 50 per cent stake in Hope Downs.

Atlas Iron shipped 8.9mt of iron ore from its Mt Webber, Sanjiv Ridge and Miralga mines to produce a net profit of $401m. Atlas also paid its first dividend of $225m in December last year.

Beyond iron ore, Mrs Rinehart has been busy expanding the breadth of her empire in 2023.

In February, Hancock snared Warrego Energy for $440m, securing exposure to WA gas assets and the potential for future low-cost gas at Hancock’s iron ore operations. This followed Hancock’s $900m takeover of Senex Energy in hand with South Korean giant POSCO last year.

Following its entry into the energy sector, Hancock has been on a spending spree over the past couple of months in the lithium and battery metals space, acquiring “strategic stakes” of 19.9 per cent in Liontown Resources and 18.3 per cent in Azure Minerals.

It has outlaid around $1.5b in building its holdings across Liontown and Azure.

Hancock said it also remains committed to “increasing its investment in the agricultural sector”. For FY2023 its subsidiary — Australian Outback Beef Pty Ltd — delivered a net profit of $84.8m, underpinned by the divestment of four properties.

Hancock said the proceeds from the four sales were being re-invested in “high quality properties as opportunities of value are identified”.

After Mrs Rinehart launched multiple scathing attacks at regulatory red tape last week, Hancock reiterated that sentiment on Tuesday.

“Approval timeframes and red tape have increased significantly over the recent years,” it said in a statement.

“The current policy environment, duplication of processes, overreach from all departments and delays to approvals is negatively impacting new investment into the mining industry and is reducing Australia’s competitiveness in the international resource sector.

“The US, Canada and Europe, which have higher cost environments than developing economies, are providing significant support for resource development, in particular downstream processing for future metals.

“Australia can and needs to do much more to reduce regulatory burdens and make investment welcome and development easier for its essential resources and related industries.”
Lithium sell off wave hits the ASX as UBS slashes electric vehicle growth expectations
Tue, 31 October 2023 8:52AM
Lithium stocks have fallen after warnings about weaker than expected uptake of electric vehicles. Credit: Pixabay/Pixabay
A big warning on electric vehicle demand and lithium prices has washed over the ASX’s lithium miners and explorers, leading to a sea of red across the green energy sector on Tuesday.

On Tuesday UBS issued a research note downgrading electric vehicle demand by between 5 per cent and 15 per cent through to 2030, driven by weaker-than-expected EV uptake in the European and US markets.

“We have seen these signals for quite some time now with sequentially declining monthly sales, shrinking backlogs and growing discounts,” UBS analyst Levi Spry said.

Mr Spry believes EVs have become a “tough sell” in Western markets due to high consumer uncertainty, shrinking subsidies, discounts on petrol cars, lagging charging infrastructure, and key manufacturers - like General Motors and Honda — dialling back on EV launches and investments.

“Extrapolating this through to the 2030 estimate, we now see EV penetration at 47 per cent vs 54 per cent ... we cut lithium prices 10 per cent to 50 per cent accordingly,” he said.

“While lower demand growth should see some supply growth delayed, all else equal, our new forecasts have us now in moderate surplus for the next few years.”

The UBS note compounded the bad news for the ASX’s substantial lithium contingent, after major player IGO on Monday warned investors that a soft price environment would lead to lithium from its Greenbushes mine being stockpiled in the December quarter.

IGO also said it may be necessary to reduce production at Greenbushes during the second half of 2024 if the surplus production dilemma is not solved.

Investors were spooked by lithium stocks on Halloween, with big losses recorded on Tuesday across the board. Lake Resources shed 5.9 per cent, Vulcan Energy resources sunk 4.6 per cent, Mineral Resources fell 4.1 per cent, Pilbara Minerals and Allkem declined 3.9 percent, and Liontown Resources was down 1.8 per cent. IGO has also retreated more than 10 per cent over the past two days.

Core Lithium was one of the very few bright spots across the lithium space on Tuesday, posting a gain of 2.9 per cent.
Speculation mounts that a rival offer to SQM’s $1.63b bid for Azure Minerals is on the way
Wed, 1 November 2023 7:56AM
Could Direct Lithium Extraction Be a Game-Changer?
New technologies double production while reducing environmental damage

nine_inch_nerd schreef op 1 november 2023 17:53:

Could Direct Lithium Extraction Be a Game-Changer?
New technologies double production while reducing environmental damage
Ik voorspel een gigantische overproductie aan lithium binnen een paar jaar.

DeZwarteRidder schreef op 1 november 2023 20:21:


Ik voorspel een gigantische overproductie aan lithium binnen een paar jaar.
Hoe verhoudt deze voorspelling zich met de verwachting van een enorme vraag als gevolg van technologische ontwikkelingen op die gebieden waarvoor lithium wordt gevraagd?

Pion schreef op 1 november 2023 21:26:

[...]Hoe verhoudt deze voorspelling zich met de verwachting van een enorme vraag als gevolg van technologische ontwikkelingen op die gebieden waarvoor lithium wordt gevraagd?
Gebruik je fantasie, zou ik zeggen.
Vaker gezegd, Canada is the place to be.

Gov’t of Canada to Enhance Critical Minerals Sector With Launch of $1.5 Billion Infrastructure Fund
Published: November 3, 2023

Critical minerals are key enablers of clean technologies, like batteries, and clean energy sources, such as wind turbines and solar panels, which are essential to achieving a net-zero-emissions future. Canada’s critical minerals sector has tremendous opportunities that remain underdeveloped. This is largely because critical minerals deposits are often located in remote areas with challenging terrain and limited access to enabling infrastructure, such as roads or grid connectivity. Canada is already a leading supplier of sustainably sourced minerals and materials and is committed to making strategic investments to reinforce its position and drive job creation and economic growth.

The Minister of Energy and Natural Resources, the Honorable Jonathan Wilkinson, has launched the Critical Minerals Infrastructure Fund (CMIF) and will begin accepting applications when it opens its first call for proposals in late fall 2023.

The CMIF will address key infrastructure gaps to enable sustainable critical minerals production and to connect resources to markets. With up to $1.5 billion available over seven years, the fund will support clean energy and transportation projects that will enable critical mineral development.

Details about the first call for proposals will be available on the website, providing information about how interested applicants can apply.

The CMIF is a key component of the Canadian Critical Minerals Strategy and will complement other clean energy and transportation support that is already benefiting the critical minerals sector. By investing in the foundational and enabling infrastructure needed to develop critical minerals projects, Canada is helping to realize immense economic opportunities all along the value chain, from exploration and sustainable extraction to processing, advanced manufacturing and recycling, while simultaneously supporting the development of clean technologies essential to achieve a global net-zero emissions economy.

“Critical minerals are a generational economic opportunity for Canada. As major enablers of clean technologies and clean energy sources, demand for critical minerals is projected to rise exponentially as the global economy continues to shift toward low-carbon solutions. Through the $1.5-billion Critical Minerals Infrastructure Fund, Canada will make strategic investments in projects to help enable and grow the sustainable development of these minerals, reinforcing Canada’s position as a global supplier of choice for clean technology, clean energy, and the resources the world needs to build a prosperous net-zero economy,” said the Honorable Jonathan Wilkinson, Minister of Energy and Natural Resources.

“Developing Canada’s critical minerals value chains will not only boost the competitiveness of the minerals and metals sector, it will support the growth of our economy, support Canada’s transition toward a net-zero economy and create well-paying jobs for Canadians. With investments through the Critical Minerals Infrastructure Fund and the Strategic Innovation Fund, our government is strengthening the electric vehicle value chain we’re building from coast to coast to coast by adding value to our critical minerals resources, from mineral processing to manufacturing and recycling,” said the Honorable François-Philippe Champagne, Minister of Innovation, Science and Industry.

“Our investments will help the mining industry develop important enabling and supporting infrastructure such as roads and energy facilities required prior to construction of mines. Canada has an opportunity to be a substantial global producer of critical minerals. We are pleased to play a role in unlocking critical mineral deposits, which are essential for Canada’s move to net zero and economic development in northern communities,” said Ehren Cory, CEO, Canada Infrastructure Bank.


• The CMIF is a key program under the Canadian Critical Minerals Strategy to support enabling clean energy and transportation infrastructure projects necessary to increase Canada’s supply of responsibly sourced critical minerals.

• The CMIF will support strategic priorities such as decarbonizing industrial mining operations, strengthening supply chains through transportation infrastructure and advancing economic reconciliation by supporting the participation of Indigenous Peoples in infrastructure and critical mineral projects.

• In 2022, the Government of Canada launched the Regional Energy and Resource Tables — a collaborative initiative with provinces and territories designed to identify, prioritize and pursue opportunities for sustainable job creation and economic growth. Critical minerals have been identified as an area for priority action by provincial and territorial governments through the Regional Tables, and these tables will provide a great opportunity for them to highlight priority critical mineral infrastructure projects that may be supported by the CMIF.

DeZwarteRidder schreef op 3 november 2023 11:43:

Gebruik je fantasie, zou ik zeggen.
Goede one-liner, leuke soundbite, maar ik vraag gewoon om een argument. Ik begrijp namelijk niet hoe het bedoelde leidt tot jouw stelling. Het artikel gaat alleen maar over meer efficiency en vooral minder gebruik van chemicaliën. Ik zie niet in hoe dat per se zou moeten leiden tot een "gigantische overproductie" en dan ik benieuwd naar de denkwijze van anderen. Maar goed, niet willen reageren is ook een recht.

Of je bent een Bear, dat kan natuurlijk ook gewoon.
Lithium Price Trends 2023: From Oversupply to Looming Demand Challenges
by Sam KrassOctober 31, 2023Blog, Sector News
Li Rock Stock Recap | Episode 6

0:00 - Introduction
0:37 - October Lithium Scoreboard, sentiment after jobs report/Powell rate comments
2:00 - Albemarle and Livent results commentary
4:29 - Booming China EV Sales
9:14 - BYD Results & Global EV success
10:15 - What next for Azure? - reading Mineral Resources, Hancock, SQM tea leaves.
14:00 - Mineral Resources, Piedmont & Sayona discussion
18:18 - Sigma drilling results & other Brazil spodumene plays
18:58 - IperionX titanium - $12.7M Dept of Defense grant
20:18 - Talon Metals $115M DOE grant, Albemarle $90M DOD funding for Kings Mountain
21:00 - Toyota supply chain savvy; $8B more for North Carolina battery plant
24:35 - Canada $1.5B Infrastructure Fund; the USA EV adoption slowdown narrative.
25:38 - Lithium price bottoming? Perspective of lithium futures trader/ALB/LTHM.
27:52 - Zimbabwe & other Africa production - threat to ALB/PLS spodumene duopoly?
32:50 - Sir Sam Jonah on Atlantic and Ghana's Lithium future
35:10 - Champion Electric Metals @ IMARC & upcoming Red Cloud, Benchmark, 121 & Deutsche conferences
37:30 - Dichotomy b/w equity valuations & inbound strategic interest in development projects
38:20 - Banks running processes at Global Lithium, Latin Resources, European Metals Holdings
39:19 - Will more OEMs write checks for spodumene in face of Compass Minerals disappointment?
Merged lithium giant speaks on WA lithium frenzy: Chief executive officer of the merged Allkem-Livent entity Paul Graves has told the Australian Financial Review (AFR) that the company …

Arcadium Lithium willing to wait on WA assets
Olivia Thomson 4 hours ago
Why is MinRes buying Azure to $4? | Daily Mining Show
We’re back in Perth and keen to actually talk about the mining news again. We’ve got as fair bit of catching up to do.
To start with, Wildcat stonkers continue. We talk bigger picture with Min Res joining the shareholder group.
Speaking of Min Res, what’s their plan buying Azure shares up to $4 while Gina already has a blocking stake?
Develop’s lithium endeavours grow as the Bill Spodubeament’s entity tips in to Lithium Plus’ (LPM) capital raising – with neighbouring tenure by Core Lithium’s Project
And finally, we discuss Strickland’s drillbit success amid other undeveloped gold company’s lack of investor appetite.
Albemarle warns of losing lithium market share to China as prices fall
World’s biggest producer has scaled back its growth plans at a time when Chinese rivals pursue development
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