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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Australia’s longest-running mining exhibition returns to Sydney Showground from September 2–4 2025, bringing the country’s mining suppliers and professionals together under the one roof.
As the key event on the mining calendar, the Asia-Pacific’s International Mining Exhibition (AIMEX) is an internationally renowned platform showcasing the latest technology, equipment and services, pushing the envelope for what’s possible in mining innovation.
As Prime Creative Media general manager – events Siobhan Rocks attests, AIMEX 2025 is all about defining the next generation of Australian mining.
“After a successful 2023 edition, AIMEX 2025 will be bigger than ever, with opportunities to connect with some of the most important decision-makers in the Asia-Pacific region,” Rocks said.
“This is a truly international event, with exhibitors from China, India, South Korea, Japan, Singapore, Taiwan, Italy and Germany.
“It’s an ideal opportunity for Australian miners to connect with some of the most prominent industry minds from all over the world.”
AIMEX 2025 will offer a unique opportunity for leading suppliers and buyers to conduct face-to-face business, learn about the latest trends, and network in an interactive forum.
Attendees will come from all corners of the resources sector, from senior leaders to site management to engineers to maintenance personnel to digital innovators and everything in-between.
“There is something for everyone at AIMEX,” Rocks said.
“The 2025 event will feature more than 250 local and international suppliers, as well as a free-to-attend multi-stream conference with leading experts examining the most pressing issues in the mining industry.”
AIMEX 2025 will also feature an extensive Meet the Buyers platform, providing exhibitors with the opportunity to connect directly with the industry decision-makers most important to them.
“Our Meet the Buyers platform offers people the chance to schedule invaluable meetings to ensure they can get the most out of their time at AIMEX 2025,” Rocks said.
The AIMEX 2025 program will have a strong focus on women in mining, with keynote speakers and panel discussions challenging the status quo, generating new ideas and solutions for a more inclusive mining industry. The annual Women in Industry Awards will also be co-located at AIMEX 2025, celebrating the achievements of women in traditionally male-dominated fields.
At the Mining House Pavilion, attendees will be able to rub shoulders with the sector’s leading miners and understand the operational landscape of Australia’s vast resources industry.
As always, there will be lots of networking opportunities, while a Decarbonisation Showcase will highlight the latest electrification concepts and technologies helping the industry drive down carbon emissions.
Now under new ownership, AIMEX 2025 will showcase the best of the Asia-Pacific mining sector and provide attendees with the ultimate destination to source the latest insights, products and innovations.
Sales are now open for returning exhibitors to secure early bird prices, with spots assigned on a first come, first serve basis.
For more information on rebooking, or if you are a new exhibitor looking to secure your spot on the waiting list, visit aimex.com.au/exhibitors
The Mount Weld rare earths project. Image: Lynas Rare Earths.
Lynas Rare Earths has announced its Malaysian arm will become a producer of two new separated heavy rare earths (HRE) as soon as next year.
A new process will produce separated dysprosium (Dy) and terbium (Tb) at Lynas Malaysia for the first time and will complement Lynas’ existing light rare earths product range.
Dy and Tb are both essential to high performance rare earth permanent magnets used in electric vehicles and high-tech applications such as micro-capacitors which are essential to all electronic devices.
Currently, Dy, Tb and other HRE oxides from Lynas’ Mount Weld ore body are sold as a mixed HRE compound known as SEGH.
The reconfiguration of one of Lynas Malaysia’s solvent extraction circuits will facilitate the production of Dy and Tb.
The new circuit is designed with capacity to separate up to 1500 tonnes of SEGH per year.
“Lynas’ Mount Weld deposit is remarkable for its endowment of heavy rare earth minerals as well as light rare earth minerals,” Lynas managing director and chief executive officer Amanda Lacaze said.
“This circuit reconfiguration at Lynas Malaysia provides a pathway to accelerate our commitment to processing all of the elements in the Mount Weld ore body.
“Dy and Tb are important inputs to high performance magnets and electronic devices and we are pleased to enhance our product range to meet current and prospective customers’ needs.”
As a result of the separation of Dy and Tb from the SEGH compound, Lynas’ HRE product range will increase to include Dy, Tb, unseparated samarium, europium, and gadolinium, as well as holmium concentrate and unseparated SEGH.
Lynas is also progressing pre-construction activities for its planned US rare earths processing facility.
Both Lynas Malaysia and the planned US rare earths processing facility have been designed to accept third party feedstocks as they come online.
uranium mineral isolated on black background. Highly radioactive and dangerous ore.
Paladin Energy is looking to grow its global uranium footprint through the acquisition of Canadian-focused Fission Uranium. (PDN收购优质铀矿后复盘补跌5.1%，本次配股收购稀释股东权益，在股东将要看到拉格矿有收益的时候再添新吞金兽，2029年计划投产的帕特森湖项目未来5年间预计非常烧钱，这也是股东们没有因该溢价收购就立即炒高股价的原因。)
Fission shareholders would receive 0.1076 Paladin shares for each Fission share as part of the deal, which represents an implied value of $C1.30 per Fission share and an implied equity value of $C1.14 billion.
This is a 25.8 per cent premium to Fission’s closing share price of $C1.03 on June 21.
Fission shareholders would own 24 per cent of Paladin if the transaction closes, with the enlarged Paladin holding a market capitalisation of $US2.5 billion.
The two companies hope to create a “clean energy leader” and deliver several benefits to shareholders of both companies:
Enhanced project development pipeline
Multi-asset production expected by 2029
Diversified presence across leading uranium mining jurisdictions of Canada, Namibia and Australia
Increased exposure to highly attractive long term uranium fundamentals
Increased scale and global profile of Paladin with TSX listing
Fission owns the Patterson Lake South (PLS) project, which proposes a high-grade uranium mine and mill in Canada’s Athabasca Basin.
Paladin is a uranium producer once again through its Langer Heinrich mine in Namibia, with which it holds a 75 per cent stake. The company also holds exploration assets in Canada and Australia.
“The acquisition of Fission, along with the successful restart of our Langer Heinrich mine, is another step in our strategy to diversify and grow into a global uranium leader across the top uranium mining jurisdictions of Canada, Namibia and Australia,” Paladin chief executive officer (CEO) Ian Purdy said.
“Fission is a natural fit for our portfolio with the shallow high-grade PLS project located in Canada’s Athabasca Basin. The addition of PLS creates a leading Canadian development hub alongside Paladin’s Michelin project, with exploration upside across all Canadian properties.”
Fission president and CEO Ross McElroy echoed Purdy’s sentiment.
“The combination of Fission and Paladin will create a world class diverse uranium producer, adding a class leading development project in a Tier 1 jurisdiction with the ability to expand production and cash flow profiles in the near term,” he said.
“The culture and assets between Fission and Paladin are very complimentary. Shareholders will have exposure to a producing asset with a long life of mine, located in a politically stable and globally significant uranium jurisdiction with a long history of uranium production.”
The Fission board recommends its shareholders to vote in favour of the transaction.
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Drilling to determine Goschen’s footprint in Victoria. Image: VHM
The Victorian Government has released a raft of exploration licences for projects relating to minerals critical to the energy transition.
The new licences have now been approved to target minerals and metals including antinomy, zircon, copper and mineral sands.
Victoria has demonstrated resources of antinomy, titanium, zirconium and rare earth elements. There are also opportunities for other key raw materials including copper, high purity alumina and silica.
“We have strong critical mineral opportunities across the state – the CSIRO assessed that the Murray Basin mineral sand deposits alone, which are mostly in Victoria, contain an in-ground value of at least $200 billion,” Resources Victoria chief executive officer Matt Vincent said.
The Earth Resources Regulator has now approved 50 new minerals exploration licences this financial year with six awarded so far in June covering ground across the state.
According to the Australian Bureau of Statistics, exploration expenditure across Victoria for the year to March 2024 was over $130 million.
In central Victoria, fresh exploration activity in the Bendigo and Nagambie areas will target gold, silver and antinomy through three new licences.
In south-west Victoria, one new mineral exploration licence near Casterton and another near Dartmoor will target mineral sands that could include titanium, zirconium and rare earth elements.
Another new licence for an area near Mortlake will target copper and zinc as well as lead and gold.
In western Victoria, a new retention licence near Maryborough will enable the assessment for zircon, gold, rutile and high purity quartz silica development.
Retention licences are the second phase of minerals development and allow explorers time to see if responsible development is feasible.
“In Victoria, we have stringent safeguards and our regulator is on hand to enforce the important provisions in place to protect the environment, community and infrastructure,” Vincent said.
Fortescue executive chair Andrew Forrest has welcomed Chinese Premier Li Qiang at the company’s green technology and test facility in Perth.
Qiang’s visit to the Hazelmere prototype facility gave Fortescue the opportunity to demonstrate the progress of its green iron technology.
Fortescue is aiming to work with China to establish an Australia Sino green iron supply chain, which will see equipment and technology sourced from China and Australia, and green metal and hydrogen made in Australia and supplied to the world.
Speaking at the Australia–China CEO Roundtable with Qiang and Australian Prime Minister Anthony Albanese, Forrest emphasised his plan for the future.
“A fully integrated green iron metal supply chain between Australia and China is the key to China maintaining its position as the dominant global producer of steel to the world,” Forrest said.
“Our proposed Australia Sino green iron metal supply chain will bring together mining powered by large-scale renewable power and green hydrogen to produce green iron metal.
“Our ambition is to provide 100 million tonnes of green iron metal to China each year, eliminating more than 200 million tonnes of carbon dioxide emissions.”
Fortescue Metals CEO Dino Otranto said a strengthened partnership between Australia and China is a natural progression.
“Today, China remains our key market for our iron ore business and we now look forward to building new relationships in a green focused world,” Otranto said.
“We believe that partnering with China to help send its steel industry green will be a major benefit to both economies and to bilateral relationships, shoring up Australia as China’s reliable and preferred commodity supplier.”
