Time is running out to secure a spot at AusIMM’s Iron Ore Conference 2023, set to take place at the Perth Convention Centre from September 18–20.
Hosted by AusIMM and CSIRO, the Iron Ore Conference is a groundbreaking gathering of experts and professionals from around the world. This prestigious conference will delve into the core challenges facing the iron ore industry, offering invaluable insights and solutions.
Expect an outstanding program that explores the latest developments and addresses the challenges impacting the technical and management aspects of iron ore production. Over the course of three days, discussions will revolve around the genesis, geology, exploration, mining, and processing of iron ores and more. The conference will also emphasise the critical issue of reducing the carbon footprint in iron and steel mining, contributing to a sustainable and green future.
Keynote presenters, including Alan Bye, Christine Hass, Christiaan Heyning, Darren Matthews, Professor G.J. Nathan, Hon Bill Johnston MLA, Kerry Turnock, and Paul Zulli, are gearing up to share their expertise with conference delegates. Their presentations promise to be insightful and thought-provoking, offering fresh perspectives on the industry’s challenges and opportunities.
In addition to the knowledge-sharing sessions, the Iron Ore Conference 2023 offers ample networking opportunities where delegates can connect with like-minded professionals, expand their networks, and forge valuable partnerships.
IGO saw a record $1 billion in revenue for the financial year, generating net profit after tax of $549 million, which acting chief executive officer Matt Dusci called “the strongest set of financial results in IGO’s 21-year history.
This was underpinned by an enormous $1.987 billion in earnings before interest, taxes, depreciation, and amortization (EBITDA).
The company’s shareholders reaped some of the rewards.
“This has enabled the declaration of a final dividend of $0.44 plus a $0.16 special dividend for FY23 (financial year 2023), bringing total dividends for FY23 to a record $0.74 per share, equivalent to $560 million in dividend payments,” Dusci said.
Lithium production at the company’s Greenbushes mine, which it co-owns with joint venture partner Tianqui Lithium, significantly contributed to the earnings. Greenbushes has the highest ore reserve grade of any hard rock lithium mine globally.
The mine produced roughly 1.49 million tonnes of spodumene at a cost of $244 per tonne in FY23.
“Within our lithium business, excellent production and cost performance at the Greenbushes lithium mine, combined with exceptional realised pricing, drove record earnings and cash dividends of over $1 billion to IGO, via our lithium joint venture,” Dusci said.
“Meanwhile, performance at the Kwinana lithium hydroxide refinery is expected to improve over FY24 as progressive rectifications are made to improve operational performance.”
Lithium hydroxide production at Kwinana was lower than expected in FY23 owing to operational changes.
Nickel also contributed to the company’s success.
“Our nickel business also delivered with our operating assets, Nova and Forrestania, generating aggregate free cash flow of $587 million for the year at an EBITDA margin of 56 per cent.”
LITHIUM JOINT VENTURE WITH TIANQI LITHIUM CORPORATION
Ownership IGO 49%
In 2021, Tianqi Lithium Corporation (51%) and IGO Limited (49%) incorporated a new Joint Venture (JV), with a focus on developing and operating world class lithium assets. The JV is currently focused on its lithium assets in Western Australia which comprise of a 51% stake in the Greenbushes Lithium Mine (49% owned by Albermarle Corporation) and 100% ownership of the Kwinana Lithium Hydroxide Refinery.
The JV is global lithium partnership between IGO and Tianqi, a lithium industry leader, and will be the exclusive vehicle for any future lithium related investments outside of China.
One of the world’s leading aerospace manufacturers continues to invest, grow and create new skilled jobs in the state, strengthening Victoria’s manufacturing expertise and capabilities.
Minister for Manufacturing Sovereignty Ben Carroll today welcomed Boeing’s growth in Victoria, with the company creating more than 200 new jobs this year alone, an increase of almost 25 per cent and bringing its workforce in the state to more than 1000.
“Boeing’s continued investment in Victoria highlights our status as Australia’s advanced manufacturing capital, with more high-skilled jobs being created in our state,” Carroll said.
These roles are supporting increased production of new commercial planes due to growing demand globally.
Based at Melbourne’s Fishermans Bend, the company has been manufacturing aircraft in the state since 1927.
The company is not only growing its workforce in the state but also encouraging more women into aviation trade roles through its Female Apprenticeship Program to increase gender diversity in traditionally dominated roles.
Boeing’s Victorian presence is one of the company’s largest outside the United States, bringing together a unique combination of research and development, engineering, and advanced manufacturing in the one location. It is where the company has produced components for the 787 Dreamliner for the past decade.
All of Boeing’s commercial airplane components produced in Victoria are exported to the company’s final assembly lines in the United States – either to Seattle, Washington or Charleston, South Carolina.
Boeing Aerostructures Australia Managing Director Mick Sorrenson spoke about why the company has chosen Victoria.
“Boeing’s enduring partnership with Australia is deeply connected to Victoria, having continuously manufactured aircraft components at our Fishermans Bend site since the 1930s,” he said.
Boeing Aerostructures Australia was awarded the Manufacturer of the Year – Large Business at the recent 2023 Victorian Manufacturing Hall of Fame Awards – which is supported by the Andrews Labor Government.
Victoria continues to cement its status as a destination of choice for major global firms with Hanwha, BAE Systems, Leonardo, Lockheed Martin, and Thales all establishing a significant presence here.
Through the Victorian Budget 2023/24, the Victorian Government is backing advanced manufacturers to bolster local capabilities through the $21 million Manufacturing and Industry Sovereignty Fund, as well as investing $4 million to support our defence and space sectors to secure more major contracts.
Horizon Minerals and Dundas Minerals have entered into a binding agreement to acquire the Windanya and Baden-Powell/Scotia gold projects in the Kalgoorlie region of WA.
Dundas Minerals has also made an application to acquire three prospecting licenses in its own right, contiguous to Horizon’s Banden Powell/Scotia tenements.
“The option to acquire these advanced stage gold exploration projects in the Kalgoorlie region of Western Australia is an exciting opportunity for Dundas Minerals,” Dundas Minerals managing director Shane Volk said.
“Given the competition for these projects, Dundas is pleased that Horizon viewed us as a worthy partner. We are keen to commence the first phase of exploration in coming weeks.”
The Windanya project is located approximately 50km north of Kalgoorlie, while the Powell/Scotia project is adjacent to the Goldfields Highway, about 60km north of Kalgoorlie.
The projects became available due to Horizon’s focus on advancing its Cannon, Penny’s Find and Rose Hill gold projects towards production.
“Being so near to Kalgoorlie, the Goldfields Highway, and several gold plants, the economics of advancing a gold deposit from within these project areas into production, and generating income for the company are favourable,” Volk said.
Dundas is currently finalising plans for its first phase of exploration at both projects, which will comprise soil and/or auger sampling programs covering multiple targets ranked by prospectivity.
Exploration is expected to commence in early September, and will take up to three weeks to complete.
City of Kalgoorlie-Boulder councillors have voted to lease council land to BHP for temporary worker accommodation, with a total of 1152 new rooms to be built.
Located in Somerville, the three-year lease agreement is touted to bring in $1.3 million a year to the council in rent and rates.
The camp has also been granted three one-year options after the initial leasing period.
BHP will now seek building approval for the camp, which will house workers for the construction of a furnace rebuild for the company’s nickel smelter as part of its Nickel West division.
“This is a big decision for the city, and we want to do what is best for our community long term,” City of Kalgoorlie-Boulder mayor John Bowler said.
“BHP have advised that 60 per cent of its workforce for its Kalgoorlie nickel smelter renewal project would be housed in the temporary village and this would not only ease the burden on residential housing but also have significant benefits for the local economy.”
BHP’s submission was recommended to the council due to the significant financial return it could create in terms of future services for ratepayers.
These funds will be held in city’s future projects reserve for the development of the area as traditional residential housing.
Kalgoorlie-Boulder deputy mayor Glenn Wilson told the ABC the camp is necessary to reduce pressure on the city’s housing market.
“We’ve already got $900-a-week rents in Lamington and that will only increase, putting further strain on family budgets,” he said.
BHP’s WA operations supply nickel to world markets for use in electric vehicle batteries and other growing technologies with an aim to support global decarbonisation.
BHP employs 2500 people across its Nickel West operations, a large portion of which are fly-in, fly-out (FIFO) workers.
The next step in the integration of SP Mining (the mining related business of Schenck Process acquired by global, high-tech engineering group Sandvik), will see SP mining entities change their names to reflect the new ownership.
On the October 1, Schenck Process Australia Pty Limited, which became a wholly owned subsidiary of Sandvik in November last year, will become Sandvik Rock Processing Australia Pty Limited. The Australian entity is the largest part of SP Mining’s global business, employing around 450 industry professionals.
Since the acquisition, Sandvik has been focused on bringing together its expertise in crushing with the screening, feeding, weighing and loading know-how of Schenck Process Mining.
According to company president Asia Pacific Terese Withington, this move is part of an integration process which will eventually see SP Mining become a seamless part of the Sandvik organisation.
“In Australia, we are bringing together our sales and back-office teams with those of Sandvik Rock Processing Solutions to allow our customers to access our combined expertise in crushing, screening, feeding, weighing and loading,” Withington said.
“Together we aim to deliver even better digitalisation, sustainability, and productivity solutions to our industry.
“The end goal of our integration is to allow our customers to place combined crushing, screening, feeding, weighing and loading orders with our new legal entity.”
SP Mining president Asia Pacific Terese Withington.
Withington said that the scale of Sandvik’s operations and commercial reach will help to accelerate the combined innovation portfolio of Sandvik Rock Processing Solutions and SP Mining.
“We look forward to continuing to service the business needs of our customers and remain fully focused on the delivery of high-quality equipment, consumables, OEM spare parts and services to help them achieve their business objectives,” she said.
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