yinghui

Records rain on South32 in 2021

*Illawarra Metallurgical Coal. Image: South32*

South32 has met or exceeded production expectations across its Australian operations, not allowing inclement weather to diminish a strong March quarter.

Worsley Alumina, in which South32 owns 86 per cent, is on track to achieve nameplate capacity of 4.7 million tonnes at its bauxite mine in Western Australia.

One of the world’s largest sources of alumina, the mine has undergone planned maintenance to its calciner which allowed nameplate to be achieved.

South32 has set a year-to-date production record for its Australian manganese operations at the Groote Eylandt Mining Company operation (GEMCO) in the Northern Territory.

The 4.329 million wet metric tonnes of high-grade manganese produced were a 5 per cent increase on last year’s prior corresponding results.

Despite this, production guidance of 3500 wet metric tonnes for the manganese operation will remain unchanged in consideration of the effects of the wet season.

“We set year to date production records at Brazil alumina and Australia Manganese,” South32 chief executive Graham Kerr said.

“We increased our production guidance for South Africa manganese as we continue to respond to market conditions and at Cannington off the back of continued strong underground performance.”

At the Cannington silver and lead mine in north west Queensland, South32 increased its production guidance by 10 per cent for the 2021 fiscal year, despite also being hit with torrential rain through the March quarter.

Silver production was almost 3.5 million ounces for the March quarter, an 11 per cent increase on the previous period, while lead jumped by 6 per cent on the last quarter to 33,000 tonnes.

South32 expects weather-related disruptions to Cannington’s rail logistics to be resolved over the coming quarter, making March’s strong results all the more impressive.

On the company’s length of positive results, Kerr said they only strengthened confidence in the future for South32.

“Looking ahead, we expect the global economic recovery combined with fiscal stimulus to continue, driving a rebound in metal demand and sustaining higher prices for many of our key commodities,” Kerr said.

“We continue to reshape our portfolio, moving closer to the divestment of South Africa Energy Coal while progressing studies for our base metals development options.”

At South32’s Illawarra metallurgical coal operation in New South Wales, the company reported a 17 per cent increase in year-to-date production.

It produced 1.57 million tonnes of metallurgical coal during the March quarter, which was a 12 per cent increase on the previous quarter.

This increase was thanks in part to the Appin project’s longwall reconfiguration in late-2019, allowing for improved efficiencies.

The coal operation will now look to the June quarter of 2021 for the next stage in its longwall reconfiguration, in hopes that further efficiencies can allow for greater production and less resource waste.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.

彩涂钢材产品供应商 BlueScope 提高业绩预期，股价早盘高开

金属电镀和彩涂钢材产品供应商 BlueScope （ASX：BSL）周二发布公告称，BlueScope目前预计，2021财年下半年的息税前利润将在10亿至10.8亿澳元之间。高于之前7.5亿至8.3亿澳元的指导范围，但仍需取决于期间的外汇汇率和市场条件的变化。

BlueScope的董事总经理兼首席执行官Mark Vassella 说：”公司业务发展得越来越好，受益于强劲的产品利差、价格和需求的增长。BlueScope的所有团队在努力满足客户的特殊需求方面做得非常出色。”

“公司业绩也继续证明了我们业务模式的独特优势和价值。BlueScope是一家非常与众不同的钢铁公司，在利用新兴趋势方面处于令人信服的地位，例如对低密度和区域性住房以及电子商务和物流基础设施的需求。”

公司称，提高业绩预期的主要驱动力来自美国的North Star业务。自2月份提供业绩展望以来，中西部基准热轧卷钢价格强劲上涨–每公吨上涨约250美元。澳大利亚钢铁产品公司也受益于国内和出口钢材利差的改善。

此外，公司的扩建项目仍在进行中，新工厂将在2022财政年度的下半年投入使用。国内发货量目前超过了我们的预期–特别是在建筑和施工领域的高附加值产品。建筑产品部门目前预计将比2021财政年度上半年的收益有所改善，主要是由于北美涂层业务的利润率在钢价快速上涨的推动下有所加强。东盟业务的盈利也好于先前的预期，因为高于预期的钢材价格对利润率产生了有利的影响。

BlueScope钢铁有限公司是油漆和涂层钢材产品的制造商和分销商。其产品包括增值的金属涂层和油漆产品，热轧卷，冷轧卷，钢板以及管材。它在中国，印度，印度尼西亚，泰国，越南，马来西亚和北美拥有覆盖广泛的金属涂料，油漆和钢铁建筑产品业务。它为建筑，建筑，制造，汽车和运输，农业和采矿业的客户提供服务。该公司为整个亚洲的住宅和非住宅建筑业以及北美的非住宅建筑业提供服务。BlueScope 钢铁公司总部位于澳大利亚维多利亚。

公司截至2020年6月的2020财政年度的收入为113.242亿澳元，比2019财政年度减少9.9%。在2020财年，该公司的营业利润率为2.3%，而2019财年的营业利润率为10.2%。在2020财年，该公司的净利润率为0.9%，而2019财年的净利润率为8.1%。

公司股价早盘高开，截止发稿前，股价上涨1.93% 至22.475澳元。

text 【更多BSL股价走势和公告请点击BSL个股页面】

消息来源：

公司公告 BlueScope increases earnings guidance to $1.0Bn to $1.08Bn for 2H FY2021

Infrastructure priority list promises record investment

More than 40 new proposals have been added to the national project pipeline, now worth $59 billion.

Infrastructure Australia has released its priority list for 2021, with a record number of new investments included across the country.

Forty-four new proposals have been added to the project pipeline, now worth $59 billion, while 10 projects have been moved off the list and into the construction phase.

Infrastructure Australia chief executive Romilly Madew said regional investment became a focus for the list this year.

“More than half of the investment opportunities on the 2021 Priority List benefit our regional communities, as we continue to draw focus on equitable service delivery and investments that will deliver affordable and quality infrastructure services for all Australians, regardless of where they live,” she said.

Among the 44 new projects to make the List were the Parkes Bypass to connect Melbourne and Brisbane, Parramatta’s outer ring road capacity, and Melbourne to Adelaide freight rail improvements.

With 180 projects on the list, chief executive officer for Cement Concrete & Aggregates Australia (CCAA) Ken Slattery said there’s a bottleneck between the government’s words and its capacity to act on them.

“There is a concern that the list is fine, but how such a record level of investment actually gets translated into constructed projects is unclear,” Slattery said.

Chief executive officer of the Australian Constructors Association (ACA) Jon Davies said the list plays a key role in supporting the nation up from its knees, post-COVID-19.

“With this record number of new investment opportunities, all levels of government need to work with industry to ensure that projects are delivered in a timely and efficient manner that maximises the social and economic benefits of the government’s investment,” Davies said.

“This will be vital in a post COVID-19 world with high levels of government debt but no less of a requirement to construct productivity enhancing infrastructure.”

Slattery agreed, if the industry could survive COVID, it’s exactly what the nation needs to renew itself in the coming years.

“One of the things we’ve seen is a strong and viable construction sector represents the backbone of the economy and the fact the construction industry has been able to operate throughout [COVID-19] has meant there has been a strong level of support for businesses and employees,” Slattery said.

“We’re talking something like 1.1 million people employed by the building and construction sector who stayed in work and continue to pay taxes and continue to support the economy more broadly, which is vitally important.”

Slattery said the CCAA was pleased its direct consultation with Infrastructure Australia was seen in the list’s considerations.

“We are encouraged by Infrastructure Australia recognising the role of the supply chain in all of this, which is a relatively recent development,” Slattery said.

“In the past we’ve simply seen that big projects were identified, supported and pursued without any real thought on where the materials were going to come from.

“We’re of the view that Infrastructure Australia really are paying due consideration to that. What we need is that to translate in approval processes and approval times.”

Included in the 10 items to leave the list for the construction phases were Nowra Bridge (NSW), the M1 and Bruce Highway works (Queensland), and METRONET works (WA).

Metso Outotec wins Lynas rare earths contract

Lynas Corporation has signalled the start of development of its Kalgoorlie rare earths processing plant in Western Australia by awarding a contract to Metso Outotec.

The newly-merged company will supply the processing plant’s kiln – the largest and longest lead time piece of equipment required for Lynas’ operation.

The contract for the kiln, which measures 110 metres and weighs 1500 tonnes, will fetch around $US15 million ($21.6 million) for Metso Outotec. It will involve discharge housing, combustion chamber and burner, motor control stations and delivery to Kalgoorlie.

Metso Outotec will manufacture the kiln according to Lynas’ design. It will be an improvement to the four 60-metre kilns currently in operation at the Lynas Malaysia plant.

“The kiln is the longest lead time item for our Kalgoorlie project and placing this order is an important milestone in the development of our new processing plant in Kalgoorlie,” Lynas chief executive and managing director Amanda Lacaze said.

“We are making good progress on the project, and we look forward to working with Metso Outotec on the engineering and supply of the kiln.”

Metso Outotec plans to commence work on the kiln immediately, with components to be manufactured in Australia and Europe.

“We are excited having been selected by Lynas as a key supplier for the development of its significant greenfield project in Western Australia,” Metso president – mining equipment, Stephan Kirsch said.

“The Metso rotary kiln system forms an integral part for the processing of rare earths.”

The Kalgoorlie rare earths processing plant earned major project status from the Australian Government earlier this year.

It will undertake cracking and leaching of rare earth concentrate from Lynas’ Mt Weld mine in Western Australia’s Goldfields region.

To keep up to date with Australian Mining, subscribe to our free email newsletters delivered straight to your inbox. Click here.

Commonwealth, Victorian Governments commit more funds to infrastructure projects

Amid growing concerns over Victoria’s COVID-19 situation, the Federal and State Governments have announced a $525 million joint investment for further infrastructure.

The package will deliver “shovel-ready” infrastructure projects and road safety upgrades across Victoria. A total $320 million investment has been provided by the Federal Government under the package, and the Victorian Government will spend $205.5 million.

The Federal Government recently announced infrastructure joint investments with other states across the country.

“Partnering with State and Territory Governments to invest in more infrastructure projects across Australia is a key part of our JobMaker plan to rebuild our economy and create more jobs,” the Prime Minister Scott Morrison said. “This funding injection means we have brought forward or provided additional funding in excess of $830 million to Victoria in the past eight months.

“This package builds on the fast tracking of $514 million for infrastructure in Victoria which we announced last November, locking in priority upgrades that will bust congestion, increase productivity, improve safety, and boost jobs at a time we need it most.”

Premier Daniel Andrews said the projects will help fortify the state’s construction industry.

“This partnership with the Commonwealth will build the projects regional communities need and help keep our construction industry strong – which is more important than ever right now as we rebuild from the pandemic,” he said.

“This package is on top of our $2.7 billion we’re investing in new projects across the state to get shovels in the ground – and boots in the mud – to kickstart our economy.”

Projects to lift Australia’s economy

The Federal Government has also announced it will fast-track 15 critical infrastructure projects across the country in response to the economic turmoil wreaked by COVID-19.

Projects such as Inland Rail from Melbourne to Brisbane, the Marinus Link between Tasmania and Victoria, the Olympic Dam extension in South Australia, numerous road, rail and iron ore projects in Western Australia, and emergency town water projects in New South Wales and Snowy 2.0 have all been included on the Federal Government’s “priority list”.

The priority projects will form a five-year package worth $1.5 billion.

“Joint assessment teams will work on accelerating these projects worth more than $72 billion in public and private investment,” Morrison said last month. “These are projects that will support over 66,000 direct and indirect jobs.”

Australian lime market to reach more than $500 billion this decade

Three types of lime products are produced in Australia, including aglime, quick lime and hydrated lime.

There are good signs for Australia’s limestone segment, with the lime market expected to exceed $USD339.5 billion ($AUD510.8 billion) by 2027, according to a report by Coherent Market Insights.

An increase to lime’s demand in the agriculture and the steel industries is expected to drive profits up in the coming years.

“The Australia lime market was estimated to account for $USD290 billion ($436 billion) in terms of value in 2018 and is predicted to grow at a CAGR (compound annual growth rate) of 1.7 per cent during the forecast period (2019 to 2027),” the report stated.

Lime – or calcium hydroxide – is produced by heating limestone, and has widespread use across construction, industrial, chemical, environmental and metallurgical sectors.

Australia produces three types of lime products, including aglime (agricultural lime), quick lime and hydrated lime.

The steel industry, which contributes upwards of $16 billion to Australia’s GDP, requires lime for its activities.

While the nation faces a drop in construction activity, the use of lime in agriculture is expected to keep the market growing.

On basis of product type, in 2018, aglime accounted for the largest market share of 52.4 percent, with 778.5 kilotonnes, in terms of volume, the report stated.

“This is mainly due to increase in demand for aglime in farms as it is used to counter the high acidic content in soil and neutralise its pH factor to avoid any toxic contamination in plants.”

Major players in the Australian lime market include ADBRI (Adelaide Brighton), Boral, Sibelco, Omya Australia, Wagners and Lime Group Australia. New South Wales has the nation’s largest market share of lime at 31.3 per cent in 2018, with volumes predicted to reach 410.5 kilotonnes by the end of 2027.

Second stimulus to pump $66B into Australian economy

A $17.6 billion stimulus package has been announced for businesses and households to deal with challenges posed by the spread of the coronavirus.

The Federal Government has released its second stimulus package, which will see a total of $189 billion injected into the economy to keep businesses in business.

This funding figure includes $66.1 billion of new funding from the latest economic support package.

The package will include assistance for businesses to keep people in a job, regulatory protection and financial support for businesses to stay in business, and support for households including casuals, sole-traders, retirees and people on income support.

Up to $100,000 is available for eligible small and medium sized businesses that employ people, with a minimum payment of $20,000, to help them keep operating, pay the rent and bills, and retain staff.

Under the enhanced scheme from the first package, employers will receive a payment equal to 100 per cent of their salary and wages withheld, up from 50 per cent, with the maximum payment increased from $25,000 to $50,000. Additionally, the minimum payment has been increased from $2000 to $10,000. It will be available from 28 April 2020.

Related stories:

The Federal Government aims to incentivise businesses to hold on to more of their workers by linking the payments to staff wage tax withholdings. The payments are tax free and will flow automatically through the Australian Taxation Office.

It expects to benefit around 690,000 businesses employing around 7.8 million people.

Small and medium business entities with aggregated annual turnover under $50 million and that employ workers are eligible.

An additional payment is also expected to be made from 28 July 2020. Eligible entities will receive an additional payment equal to the total of all of the Boosting Cash Flow for Employers payments received.

This measure is estimated to cost $31.9 billion over the forward estimates period, including the value of the measure around the first package.

In addition, the Federal Government will establish the Coronavirus SME Guarantee Scheme, which will support small and medium enterprises (SME) to access the working capital needed to get through the impact of the coronavirus.

Under the scheme, the Federal Government will guarantee 50 per cent of new loans issued by eligible lenders to SMEs. It aims to do so by enhancing lenders’ willingness and ability to provide credit to SMES, with the scheme able to provide up to $40 billion of lending to SMEs.

It aims to complement the reduction in red tape to help SMEs get access to credit faster and the announcement made by Australian banks to support small businesses with existing loans.

Prime Minister Scott Morrison said the Federal Government was acting to cushion the blow from the coronavirus for businesses and households to help them get through to the other side of the crisis.

“We want to help businesses keep going as best they can and for as long as they can, or to pause instead of winding up their business. We want to ensure that when this crisis has passed Australian businesses can bounce back,” Morrison said.

“Our focus is on cushioning the blow and providing hope to every Australian that we will get through this and come out the other side together.

“We know this will be temporary. That’s why all our actions are geared towards building a bridge, keeping more people in work, enhancing the safety net for those that aren’t and keeping businesses alive so they can get to the other side and stand up their workforce as quickly as possible.”

Treasurer Josh Frydenberg said the $189 billion economic support package was the equivalent of 9.7 per cent of GDP.

“The Government is taking unprecedented action to strengthen the safety net available to Australians that are stood down or lose their jobs and increasing support for small businesses that do it tough over the next six months,” Frydenberg said.

“These measures build significantly on what we have already announced.

“These extraordinary times demand extraordinary measures.”

BUDGET 2019: WHAT’S IN IT FOR YOU?

This is a dream country to live in.
We have no wars. There is political stability, strong economic growth, plenty of jobs, a government with a skills and future science and technology agenda and a gradual lowering of taxes. There is money in the budget for medical and genomic research, improvements in education funding including targeting more women and girls in STEM subjects and areas of high demand. There will be an emergency fund for natural disasters, drought and flood support and tax relief for small businesses. We can all look forward to driving on safer roads with a huge infrastructure investment in both congested city as well as rural areas, complemented with immediate plans for fast trains. There is a government plan to ensure that contractors and small business are paid on time. Residential eating disorders treatment centres will be established throughout the county. There will be additional aged care packages and important life-saving medicines will be added to the PBS. The budget includes large sums to protect the environment and security funding to protect our people.
BUSINESS OWNERS
Instant write-offs increasing from $25,000 – $30,000 per asset basis for $50 turnover.Lower taxesHuge Investment in infrastructure enabling better transport of goods and services and for people to get to workCreation of more jobsAdditional training of apprentices in key occupations (80,000 new apprenticeships)$8,000 incentive payment per placement to employ apprenticesA new fund with access to financeExport Market Development GrantsCuts to R & D (Research and Development) tax incentivesSME (small & medium enterprises) tax cuts to 25% over 4 yearsMinimization of bracket creep from 2924Greater superannuation flexibility for retirees
PERSONAL
Immediate Income tax cuts up to $1,080 per personFuture tax reductionsSuperannuation changesEnergy support for those on income support $75 per personNo pension increasesNo increase for those on unemployment benefitsAdditional home care packages for aged careFunds to improve travel times within cities$2,000 incentive payment to new apprentices upon employment.

Australian manufacturing’s ongoing industrial evolution focus for NMW

National Manufacturing Week (NMW), held at the Melbourne Convention and Exhibition Centre from May 14-17, will highlight the continuous growth and change the industry is experiencing.

NMW will feature a theme of ‘Industrial Evolution’ throughout the four days of the conference program and exhibition with a specific focus on driving further innovation in local manufacturing, continuing the evolution of the industry advanced technology solutions, sharing insights to stay ahead of the game, while celebrating Australian manufacturing’s resurgence.

NMW exhibition director Robby Clark said this year’s event promises to support the continuing high-tech and highly integrated evolution of the industry.

“There’s been a resurgence of late in Australian manufacturing, which is being generated by the industry’s collective realisation, active progression and evolution to being technologically advanced, highly integrated, automation and high-level engineering.

“Equally, we’ve also seen Industry 4.0 or the Internet of Things become a reality from technological forecast, which for manufacturing has manifested in operations – for example in smart factories where sensors are providing actionable intelligence or underpinning greater automation.

“Knowledge gathering and solution sourcing are critical steps for manufacturing professionals looking to navigate this industrial evolution that is currently underway. The exhibitors for this year’s event will provide manufacturers with the latest range of products and solutions designed to improve operations and operational performance, increase efficiency and resolve challenges, while the content within the conference program will offer specific advice and visibility into how industry leaders are managing change,” said Clark.

At National Manufacturing Week 2019, the exhibition floor will feature more than 200 leading industrial suppliers of game-changing solutions, new technology, advanced manufacturing products and operational services.

Visitors will be able to take advantage of six designated product zones to navigate through the exhibition floor, which segment the extensive range of products and solutions into key operational categories. The six product zones for 2019’s event are automation and robotics, engineering, Industrial Internet of Things, safety, welding technology, and manufacturing solutions.

Key exhibitors across these six product zones include:

Automation and Robotics – Pilz, Universal Robots, Wago; Engineering – Faro, Prytec, BE;

Manufacturing Solutions – Flow Power, Combilift, Intelli Particle;

Industrial Internet of Things – Epicor, ECi Solutions, Cadgroup; Safety – Vanguard Wireless, Atom, Axelent;

Welding Technology – BOC, Lincoln Electric and Supagas.

There will also be an extensive conference programme that will feature a line-up of more than 70 industry speakers and panellists, who will share their exclusive insights about current industry challenges and recommendations for operational success. With the program’s sessions segmented across two streams, each with their own dedicated theatre, of “Industry 4.0” and “Connected Manufacturing”.

“This year’s conference program will be our most extensive and in-depth to date, with delegates offered unprecedented access to industry leaders with the expertise, knowledge and understanding to develop the strategies and practices for generating further growth,” said Clark.

Must-see theatre programs

The Industry 4.0 Theatre program will offer attendees the latest opinions, developments and research about the impact of Industry 4.0 on businesses and operations. A key highlight of this program will be the opening keynote, which will be delivered by Australia’s chief scientist, Dr Alan Finkel, followed by an innovation and collaboration stories series run by the Advanced Manufacturing Growth Centre (AMGC).

Across days 2-4 of this stream’s conference sessions, other noteworthy speakers include Swinburne University director of Factory of the Future Dr Nico Adams, CSIRO Data61 principal research consultant Dr Elliot Duff, Innovative Manufacturing CRC CEO David Chuter, Siemens head of digital enterprise Christopher Vains, and AMCG managing director Dr Jens Goennemann.

The Connected Manufacturing Theatre program offers expert advice about business management, design and industrial challenges.

Conference sessions within this stream will focus on industry topics, including environment and energy policies, process improvement and optimisation, safety innovation, safety policies, safety management and culture, mental health and well-being, marketing and sales, additive manufacturing and design, and government grants and tariffs.

Industry leaders who will feature in some of these sessions, include Efic Business Development Director Philip Smith, Australian Packaging Covenant Organisation CEO Brooke Donnelly, and Fonterra Cooperative Group HR Systems Owner Toni Kennington.

Clark said this year is NMW’s most extensive program ever, in both speaker volume and industry experience. “We are really looking forward to seeing the best game-changing, innovative and high-tech solutions that our industry-leading exhibitors are planning to demonstrate and display.”

Industry support is key

Strategic partners and industry associations supporting NMW in 2019 include Weld Australia, AMGC, Innovative Manufacturing CRC and Engineers Australia. These respective partnerships strengthen NMW’s depth and relevance of insight sharing and cement the event’s status as a key hub for the manufacturing community to come together.

As a strategic partner of this year’s event, Weld Australia will have an interactive presence on the exhibition floor offering visitors deeper insight into the latest welding skills training available. Weld Australia marketing and communications manager Donna South said Weld Australia will have an advanced welder training hub on the exhibition floor. “[This] will showcase the augmented and virtual reality technology that is revolutionising welder training here in Australia, and around the world.

“Attendees will have the chance to see and try a range of different welding simulators, which are making welder training and upskilling safer, more cost-efficient and engaging for new and experienced welders,” said South.

Improving business by understanding challenges

With NMW featuring a variety of Industry 4.0 applications that are helping lead the way for a strong future for the manufacturing industry, Clark said implementing smart solutions is a must.

“Manufacturing is no different from any other industry, in terms of needing to understand the change and challenges ahead, develop strategies and acquire the knowledge or capabilities to manage these changes or evolutions, while ensuring their customer service and productivity are not detrimentally impacted during this management of change.

“IoT is understandably forcing rapid change across the industry from operational practices and execution, to higher integration, reconsideration of approaches to production or task completion and the requirement to plan for future change, which are typified by the increasing level of ‘smart factories’ or factories with smart solutions.

“Therefore, we know businesses within the industry are actively considering and working to improve their operational practices and refine their approach or strategy for continued success. Because improving a business isn’t a process where ticking a box or achieving that next milestone is the measurement of success.”

To stay ahead of the game, Clark said manufacturers should acquire the latest insights, and collaborate and engage with industry peers.

“Whether your objective is to improve efficiency, productivity or increase quality, it’s crucial to take advantage of opportunities like NMW that support your business in its pursuit of future growth, by providing a forum to engage with industry leading solutions and operational experts.” said Clark.

Registration is now open for the 20th edition of National Manufacturing Week (14-17 May 2019), with free registration available at: www.nationalmanufacturingweek.com.au.

Lincom Group and McLanahan announce partnership

Original equipment manufacturers (OEM) Lincom Group and McLanahan Corporation have signed a contract that will see the former become the official Australian distributor of McLanahan’s sand and aggregates processing range.

This includes the distribution of McLanahan machinery designed for washing and classifying, tailings and water management and dewatering that will benefit both parties.

The collaboration will increase Lincom’s product offering while offering new distribution channels for McLanahan.

Lincom and McLanahan are both family-owned companies with extensive experience in the materials handling and material processing fields in the mining indudstry.

The partnership would bring more McLanahan products and installations in the market, according to Lincom chief executive Stephen Watterson.

“As a leading provider of material processing equipment, we are always looking into the best quality equipment for our customers and to machine plant that complement the range we already successfully provide,” Watterson said.

“McLanahan Corporation is a global provider with a reputation of top quality, with the highest standards for engineering and manufacturing, which is of huge importance to us.”