Weir is an innovative, end-to-end solutions provider focused on accelerating sustainable mining.
Exhibiting at this year’s MINExpo, in the Central Hall Booth #8833, Weir has showcased its marketing-leading brands and unveiled a range of new innovative technologies and solutions.
Weir has launched its ESCO NEXSYS GET Lip System for rope shovel dippers, which lowers lip maintenance requirements, extends tooth and adapter life and, ultimately, provides miners with longer uninterrupted shovel operation.
ESCO NEXSYS GET Lip System. Image: Weir
Weir has also unveiled its new high-capacity ENDURON ELITE screen. It’s a double-deck banana screen, available in a range of sizes, the largest of which has a deck measuring 4.3m x 8.5m and weighs nearly 50 tonnes. It’s driven by two exciters, whereas competitor machines of comparable size require three.
It will form an integral part of Weir’s commitment to deliver transformational flowsheet solutions in which traditional tumbling mills are replaced by high pressure grinding rolls (HPGRs) and vertical stirred mills, potentially reducing energy consumption by up to 40 per cent.
Weir’s booth features the digital hub, which will highlight Weir’s digital offering, MOTION METRICS, and Weir’s new digital brand, NEXT Intelligent Solutions.
The new MOTION METRICS ShovelMetrics Gen 3 Payload monitoring solution is designed to optimise truck loading and improve haulage efficiency by reducing both underloading and overloading. And as part of Weir’s commitment to service its customers even in the most remote locations, MOTION METRICS systems now support connectivity via Starlink, enabling reliable data transmission anywhere in the world.
Weir’s NEXT Intelligent Solutions. Image: Weir
NEXT Intelligent Solutions extend and expand Weir’s current capabilities and transforms its process optimisation services into real-time digital solutions. Weir has developed digital packages for all of its market-leading solutions – pumps, cyclones, HPGRs, screens and hoses and spools – based around key customer needs: insight, uptime and production.
The digital hub will use monitors to create a remote operation centre, allowing attendees to experience the same digital platforms and interfaces that Weir utilises to support its customers.
Attendees have also had an opportunity to experience an interactive scale P&H 41000XPC shovel model demonstration of MOTION METRICS ShovelMetrics Gen 3, as well as a ShovelMetrics model control station, featuring the same touch screen monitor and controller used by operators.
Weir experts from its digital, extraction, processing, comminution, tailings, and flowsheet solutions teams will be available at the booth to continue the conversation about how Weir is partnering with customers to accelerate sustainable mining.
“MINExpo is a wonderful event and a great opportunity to catch up with our customers and colleagues,” Weir chief executive officer Jon Stanton said.
“We’ve been doing a lot of work to expand our portfolio of innovative, end-to-end solutions to help our customers produce the metals and minerals required to transition to a low carbon economy and it’s exciting to be able to show that off at the world’s largest mining show.
“It is clear the world needs more metals and minerals but there is a recognition in the industry that we need to mine them more sustainably than we have in the past. That means using less energy, using water wisely and generating less waste. And Weir – with our world-class engineering, advanced materials science and intelligent automation – is at the forefront of helping miners do that.”
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Arcadium Lithium will transition its Mt Cattlin mine in Western Australia into care and maintenance following the recent softening of lithium prices.
Stage 4A waste stripping and any expansionary investment will be suspended after the mine completes Stage 3 mining and ore processing by mid-2025.
Though considered a relatively small mine compared to its neighbours, Arcadium president and chief executive officer Paul Graves said the mine will continue to play a big part in the company’s future.
“We remain committed to developing our global portfolio of hard rock assets and are confident that they will continue to be a significant part of Arcadium Lithium’s growth story,” Graves said.
“Unfortunately, production at Mt Cattlin beyond the current stage of the open pit cannot be justified in the current price environment for spodumene.
“We will maintain open and transparent dialogue with all of our stakeholders while supporting our employees and communities in Western Australia during this transition period.”
Arcadium was firm Mt Catltin will not be closed, with its care and maintenance program intended to keep the mine and processing facilities in a position to potentially resume operations when market conditions become more favourable.
The company said it will continue to explore the viability of underground mining at the Mt Cattlin site, which could potentially extend the remaining mine life.
As a result of the decision to put Mt Cattlin on hold, Arcadium expects to increase its net expected cash flow in 2024 and 2025 cumulatively by approximately $US75 ($111.2 million) to $US100 million ($148.3 million).
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Australian mining equipment, technology and services (METS) sectors generated $114 billion in revenue in 2020, according to the latest Austmine national survey, of which two-thirds of companies exported $17 billion of goods and services (five per cent of all exports in 2020).
Strong resources and energy exports and a steady increase in mining investment suggest METS sectors have grown considerably in subsequent years.
And expenditure is expected to continue. Australia’s mining industry invested $11.5 billion in the March quarter of 2024, up six per cent from a year earlier and nearly 60 per cent higher than the March quarter of 2019. Current estimates suggest the mining industry invested $53 billion during the 2023–24 financial year.
Further, rising exploration expenditure indicates an increase in broader capital expenditure from resources and energy firms in the coming years. Spending on exploration and other mining support services averaged $486 million per quarter in the year to March 2024, 25 per cent more than the average quarterly spend in the prior five years.
In particular, growth in exploration expenditure since 2020 suggests interest is rising in precious and industrial metals (such as copper and iron ore) and critical minerals amid the ongoing shift toward net-zero global emissions.
The June 2024 Resources and Energy Quarterly report shows exports of clean energy metals and minerals are projected to remain over $50 billion per annum over the next two years. Meanwhile, there are expectations for enhanced exploration activity over the next few years for traditional energy commodities including coal, gas and uranium that are currently experiencing relatively strong prices.
To execute these plans, services – ranging from provision of labour, explosives and transport to draining and pumping services, drilling and blasting services, railways, piping and electrical cabling – are all poised to benefit.
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Metso has signed a comprehensive frame agreement with Reko Diq Mining, the owner of the Reko Diq copper-gold project, one of the largest undeveloped copper-gold deposits in the world.
Under the agreement, Metso will deliver crushing and grinding circuits that include Superior6089 MKIII gyratory crushers, Nordberg MP1250 cone crushers and Premier ball mills with 51-megawatt installed power. These are equipped with gearless mill drive technology and Metso’s failsafe polymer hydrostatic shoe bearing systems.
Reko Diq Mining has also placed orders for TankCellmechanical flotation cells, high-intensity Concorde Cellunits, HRT thickeners, Vertimill and HIGmill regrind mills, mill reline equipment, concentrate filters and automation equipment, all of which are expected to be signed and booked in Metso’s minerals segment order intake later this year and 2025.
The equipment packages under the framework agreement are valued at $EU200 million ($333 million).
“We are excited to work as a strategic partner with Reko Diq Mining in this major greenfield project which will ramp up global copper production required for energy transition,” President of Metso’s minerals business division and deputy chief executive officer (CEO) Markku Teräsvasara said.
“Metso will provide Reko Diq with advanced and sustainable technology for the production of copper and gold concentrates.”
Reko Diq Mining is 50 per cent owned by Barrick Gold, 25 per cent owned by three federal state-owned enterprises, with the balance held by the Balochistan Government.
The Reko Diq project is expected to have a mine life of approximately 40 years as a truck-and-shovel open pit operation, with construction expected in two phases. This will provide a combined processing capacity of roughly 90 million tonnes per annum. First production is targeted for 2028.
“Reko Diq will substantially expand Barrick’s strategically significant copper and gold portfolios and benefit all its Pakistani stakeholders for generations to come,” Barrick president and CEO Mark Bristow said.
“We are pleased to partner with Metso in this project where sustainable concentrate processing is one of the key drivers for plant design and operation.”
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Just five months after announcing its intention to acquire Alumina Limited, Alcoa has now officially taken the reins.
Alcoa president and chief executive officer William F. Oplinger welcomed the closure of the $2.8 billion deal, which will increase Alcoa’s ownership of core, Tier 1 assets.
“Alcoa is proud to announce the completion of our first major acquisition,” Oplinger said.
“The acquisition of Alumina Limited strengthens Alcoa’s position as one of the world’s largest bauxite and alumina producers and is expected to result in long-term value creation from greater financial and operational flexibility.
“I want to thank both the Alcoa and Alumina Limited teams, and our advisors, for full cooperation and diligence in closing this transformational transaction on a very tight schedule.”
With Alcoa’s acquisition of Alumina, the Alcoa World Alumina and Chemicals (AWAC) joint venture is now fully owned and controlled by Alcoa.
Alcoa previously held a 60 percent ownership interest in AWAC, which consists of a number of affiliated entities that own, operate or have an interest in bauxite mines and alumina refineries in Australia, Brazil, Spain, Saudi Arabia and Guinea.
AWAC also has a 55 per cent interest in the Portland aluminium smelter in Victoria, Australia.
Looking to the Alcoa’s Western Australian assets, the company reaffirmed its commitment to growing the sector.
“Alcoa operations in Western Australia are a key component of the company’s portfolio, and this acquisition deepens that commitment,” the company said.
Terex has announced a new acquisition. Image: Alexey Rezvykh/stock.adobe.com
Terex has confirmed the latest details around its acquisition of Environmental Solutions Group (ESG) from Dover Corporation in a $2-billion-dollar deal.
The agreement establishes Terex within the waste/recycling market in North America. ESG made its name refuse collection vehicles, waste compaction machinery, balers and aftermarket equipment and digital solutions.
“This acquisition announcement of ESG marks an incredibly exciting milestone in our multi-year transformation and aligns with our goal of strengthening our portfolio and leveraging our operating system to drive sustainable, accelerated long-term growth,” Terex president and chief executive officer Simon Meester said.
“ESG will add a non-cyclical, financially accretive, and market-leading business to Terex’s portfolio with tangible synergies in the fast-growing waste and recycling end market.
“In addition, ESG is led by a world-class management team and has a strong track record of operational excellence.”
The deal is subject to close in the second half of 2024 subject to approvals and closing conditions. After the deal closes, Terex will create the new Environmental Solutions segment that includes ESG as well as Terex’s existing utilities business.
Metso has acquired Jindex, an Australian company that specialises in valves and process flow control, as part of its efforts to boost its slurry-handling abilities.
The agreement is designed to enhance Metso’s offerings by integrating its existing slurry-handling, hydrocyclones and mineral processing equipment with Jindex’s specialised valve solutions.
Metso believes the integration will strengthen its ability to provide comprehensive slurry solutions to the mining industry, enhancing productivity and efficiency in mineral processing plants.
Head of Metso’s pumps business line Tiago Oliveira outlined the significance of the acquisition.
“This acquisition is yet another important step in the development of Metso’s pumps business line offering to bring us closer to being our customers’ lifecycle partner of choice,” he said.
“Flow and isolation control play a vital role in ensuring smooth slurry handling to maximise the productivity and efficiency of minerals processing plants.
“In the past, we have collaborated with Jindex on many customer projects and are now glad to welcome the Jindex experts to the Metso team.”
Jindex managing director Stephen Fowler is excited about the acquisition
“This is a great development and an exciting next step,” he said.
“The Jindex product offering and our technical expertise in valves are an excellent addition to Metso’s pumps business and will enable Metso to provide more extensive flow control solutions to the mining industry.
“We look forward to contributing our unique knowledge and experience as part of the Metso team and providing enhanced outcomes to all our collective customers.”
Slurry handling equipment is referred to in the industry as the “heart of a plant”, as it ensures smooth flow of the process. It is vital in maximising the minerals processing plant’s efficiency and productivity.
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The site is estimated to have reserves of more than 13 million tonnes of sand and will directly create 30 jobs.
“Bringing high quality sand to market will deliver important benefits to our infrastructure builds and is crucial to keep prices for construction materials down,” Resources and Energy Minister Lily D’Ambrosio said.
The materials from the Lang Lang quarry are expected to help projects in Victoria’s Big Build and residential construction projects. Quarry materials are crucial to new housing, infrastructure and renewable energy projects.
It follows several quarry approvals within Victoria, which began in 2023, as a result of the Resources Victoria Approvals Coordination (RVAC). The RVAC helped the Lang Lang site gain planning permission through the Victorian Government’s Development Facilitation Program.
“We’re making sure Victoria’s booming quarry sector can keep delivering the raw materials needed to build the projects we need – from affordable housing to new hospitals and renewable energy projects,” D’Ambrosio said.
Alcoa’s Portland aluminium smelter in Victoria. Image: Alcoa
Closing its acquisition of Alumina Limited in August will be a key metric for Alcoa as it looks to finish off the remaining half of 2024.
The Australian Foreign Investment board approved Aloca’s acquisition of Alumina Limited (ASX: AWC) on June 13. The major is expecting the transaction to be completed on August 1, subject to shareholder approval.
Other highlights from the quarter included a net income of $5–$25 million, an increase driver by the non-recurrence of a charge of $197 million recorded in the first quarter of the year.
Alcoa’s cash balance is expected to approximately $1.4 billion at June 30, a number consistent with the prior quarter.
While Alcoa experienced a five per cent decrease in alumina production and shipments, Alcoa president and chief executive officer William Oplinger is remaining optimistic.
“We had strong preliminary results for the second quarter of 2024 which reflect market improvements,” Oplinger said. “We are looking forward to closing the acquisition of Alumina Limited on or about August 1, 2024.”
Revenue is also expected to increase for the second quarter, ranging from $2.8–$2.9 million. Alcoa is attributing this increase to higher average realised third-party prices for alumina and aluminium.
The increases follow Alcoa’s strong first quarter results, when the company produced 542,000 tonnes of aluminium, in line with its strong results from the fourth quarter of 2023.
“In the first quarter of 2024, we finalised the terms of our acquisition of Alumina Limited, which will bring strategic, operational, and financial flexibility,” Oplinger said at the time.
“Raw material prices and markets are improving, and we are implementing near-term improvements to further strengthen Alcoa for the future.”
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The Mount Keith operation is part of BHP’s Nickel West business. Image: BHP.
BHP has decided to temporarily suspend its Nickel West operations and the West Musgrave project in Western Australia amid the global nickel downturn.
What does the suspension mean for the Australian nickel industry? Australian Mining investigates.
Operations will be suspended in October and handover activities for the temporary suspension will be completed by December.
The transition period has commenced and will see BHP suspend mining and processing operations at the Kwinana nickel refinery, Kalgoorlie nickel smelter and Mount Keith and Leinster operations, as well as suspend development of the West Musgrave project.
The company will also implement a care and maintenance program of work to ensure the ongoing safety and integrity of its mines and related infrastructure. BHP will also continue investing in exploration to extend the resource life of Western Australia Nickel to preserve optionality.
“We understand this is a challenging period for the Western Australia Nickel team and surrounding communities,” BHP president Australia Geraldine Slattery said.
“Since BHP announced a review of Western Australia Nickel in February, we have explored options to stem losses in the short-term and identify a viable path forward for the business.
“Like others in the Australian nickel sector, we have not been able to overcome the substantial economic challenges driven by a global oversupply of nickel. We have made the difficult but necessary decision to temporarily suspend the Nickel West operation and West Musgrave project.”
As a result, 1600 Western Australian Nickel frontline employees will be redeployed or offered redundancies.
BHP has pledged to support its workforce and local communities during the suspension. The company will establish a $20 million community fund to support local communities and will invest around $450 million per annum once the transition period to support a potential restart of Western Australia Nickel is completed.
“Western Australia remains an important investment destination for BHP globally, with investment in the state expected to be greater than $12 billion over the next five years and we will continue to work with all of our Western Australian partners to advance the economic prosperity of the state,” Slattery said.
BHP intends to review the decision to temporarily suspend its Western Australia Nickel business by February 2027.
The Nichel West operations suspension follows BHP pausing part of its Kambalda processing operations, which took effect from June. At the time, the major miner was also weighing putting its Nickel West operations into care and maintenance.
The review resulted in BHP making about a quarter of its West Musgrave workforce redundant and decreasing the number of contractors who were working at its Kalgoorlie nickel smelter.
Government response
In January, Federal Resources Minister Madeleine King and WA Mines Minister David Michael met with nickel producers to discuss ways they could support the industry during the downturn.
Following the roundtable, King and Michael said they would work together to accelerate discussions on incentivising investment while urgently progressing discussions with State and Territory Governments on common user infrastructure for critical minerals.
A month later, King placed nickel on the critical minerals list, which outlines minerals that are essential to low-emission technology, the economy and national security, and whose supply chains are vulnerable to disruption.
Now, King has described BHP’s decision as a reflection on “the extreme volatility in global nickel markets”.
“Our immediate concern is for the workers and communities impacted,” King said.
“We welcome the commitments made by BHP to redeploy workers who wish to continue to work for the company and we welcome BHP’s undertaking to continue to invest in Nickel West throughout the temporary suspension to enable a re-start when global nickel markets stabilise and improve.
“We also welcome BHP’s commitments to continue to support local supply chains and pay royalties to First Nations communities through the temporary suspension and work with the WA Government to continue to support skills and resource investment in future projects.”
WA Premier Roger Cook echoed similar sentiments.
“This is a disappointing decision and our thoughts are with the thousands of workers and their families affected by the suspension,” Cook said.
“My government will do whatever it takes to support those workers and our regional communities through this difficult time.”
The WA Government previously announced a 50 per cent royalty relief program to kick in if the average price of nickel concentrate dips below $US20,000 per tonne. The rebate is repayable by companies in equal quarterly instalments over the following 24 months.
BHP will now allocate funding towards the WA Government’s proposed $200 million critical minerals advanced processing common user facility, which will be co-funded by the Commonwealth.
The company will also pursue an electricity smelting furnace in Kwinana with its project partners, making its refinery resources and expertise available for critical minerals research in partnership with Curtin University, and will donate $5 million to support apprenticeships under the WA Government’s group training organisation wage subsidy program.
Industry response
Following the nickel roundtable in late January, King and Michael committed to engaging in further discussions with the Chamber of Minerals and Energy WA about the future of the nickel industry and the role of royalties.
CME CEO Rebecca Tomkinson described BHP’s nickel suspension as “responsible”.
“This is a challenging time for our critical minerals sector and we’re committed to working closely with State and Federal Governments to ensure our policy settings remain competitive, enabling the industry’s viability across all time horizons – short, medium and longer-term,” Tomkinson said.
“BHP is a significant employer in WA with strong ties to the local communities of Leinster, Leonora, Kalgoorlie and Kambalda. I know this decision comes after months of operational review and careful consideration of options. It has not been made lightly.
“We are fortunate right now that the WA minerals sector remains vibrant, so workers impacted by this decision are in a good position to secure work elsewhere in resources.”
Tomkinson said the industry cannot become complacent during difficult times.
“We must continue to keep WA mining strong by having a robust and efficient legislative framework in place that fosters future development,” she said.
Possible solutions
BHP has welcomed the proposed production tax credit (PTC) for critical minerals, which will allow eligible entities to claim 10 per cent of expenditure for processing and refining any of Australia’s 31 critical minerals.
The PTC was inspired by a similar US Government scheme introduced through the Inflation Reduction Act, which considered to be the largest climate investment in US history.
The Association of Mining and Exploration Companies (AMEC) engaged Mandala Partners in 2023 to economically model the introduction of an IRA-style PTC into Australia.
In February, AMEC led a delegation of mining and energy companies that included IGO, Wyloo, Australian Vanadium, QEM, Pilbara Minerals, and Tesla to progress discussions surrounding PTC with the Federal Government. Consultation on a potential PTC commenced in June.
Alongside a PTC, Wyloo CEO Luca Giacovazzi has advocated for a ‘green nickel price premium’, which would differentiate between the Australian-produced nickel that follows strong environmental, social and governance (ESG) standards and the low-quality nickel produced in countries such as Indonesia.
Nickel pricing reform also has the support of Minister King and Andrew Forrest.
In January, Henry predicted that the nickel downturn would extend to the end of the decade, adding that nickel is BHP’s smallest business.
“Yes, it’s been one of the three areas of production growth that we’ve called out for BHP … but having said that, it’s always been the smallest … business within the BHP portfolio, and in terms of the growth outlook for the company,” Henry said.
“But there’s 17 million Australians who depend upon BHP, either directly as shareholders, or indirectly through superannuation funds, for a successful and high-performing BHP.
“That creates a real sense of accountability on our part, to ensure that we’re taking the right decision, taking into account a range of considerations, both shareholder and other stakeholders, and we’re in that process as we speak.”
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