Category Archives: Mining

Shareholders of mining company Fortescue deliver protest vote against executive pay plans

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Iron ore miner rebuked with 52% of investors voting against remuneration report amid senior staff departures

Iron ore miner Fortescue received a stern rebuke of its executive pay plans on Tuesday, with shareholders registering a strike against the company after a tumultuous period of senior staff turnover.

The Andrew Forrest-chaired company lost the chief executive of its mining business, its chief financial officer and a high-profile former director in quick succession earlier this year, causing shareholder angst.

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Kazakhstan mourns after ArcelorMittal mine disaster kills 45

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Fire at Kostenko mine is latest in series of deadly incidents, and has prompted nationalisation of global company’s local affiliate

Kazakhstan held nationwide mourning on Sunday after 45 people died in a fire at an ArcelorMittal mine, the worst accident in the central Asian country’s post-Soviet history.

The tragedy, which struck at the Kostenko coalmine in the Karaganda region on Saturday, came after a series of deadly incidents at ArcelorMittal mines and has prompted the nationalisation of the company’s local affiliate.

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Africa’s ‘optimist-in-chief’ on the continent’s renaissance: ‘Don’t just believe me, believe the data’

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In an exclusive interview, Akinwumi Adesina, head of the African Development Bank, says the outlook is good for a continent with the workers of the future and the best investment opportunities

Africa holds the future workforce for the ageing economies of the west, according to one of the continent’s leading financial figures, who also said it was time to ditch the myths around corruption and risk.

In an exclusive interview before this weekend’s World Bank meetings in Morocco, Akinwumi Adesina said there was a resurgence of belief in Africa’s economic prospects and attacked negative stereotyping, adding that there was “every reason to be optimistic”.

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Australia needs climate trigger laws, conservation groups say after failed challenge to coalmines

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Calls come after federal court dismisses legal action against environment minister’s decisions on two mine expansions

Conservation groups say Australia’s environment laws must be changed to include a climate trigger after the federal court dismissed a legal challenge against the environment minister’s decisions on two proposed coalmine expansions.

Known as the living wonders case, the legal action launched by the Environment Council of Central Queensland (ECoCeQ) alleged the minister, Tanya Plibersek, failed to protect the environment from climate harm when she decided the projects could move the next stage of the federal assessment process.

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Cadia goldmine: Newcrest pleads guilty to breaching clean air regulations

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NSW Environmental Protection Authority alleged company had exceeded standard concentration of solid particles under air pollution laws

Mining company Newcrest has pleaded guilty to breaching clean air regulations in the operation of the Cadia goldmine, near Orange in central west New South Wales.

The NSW Environmental Protection Authority began proceedings against the company in August, alleging that the operation of surface exhaust fans attached to the main ventilation shaft for the underground goldmine, dubbed vent rise 8, had caused it to exceed the standard concentration of solid particles under air pollution laws.

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EU moves to cut dependency on China for battery and solar panel materials

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Parliament votes to cut mining red tape and diversify its supplies of raw materials such as lithium and silicon

The EU has voted in a plan to secure more of the critical materials needed to make solar panels, electric car batteries and other key elements of its green transition.

The European parliament agreed on Thursday to diversify its supplies of critical raw materials and cut red tape for mining companies. In an attempt to reduce its dependency on China, it plans to ensure that by 2030 it does not rely on a single country for more than 65% of its supply of any strategic raw material.

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Brazilian Indigenous group expresses solidarity with voice yes campaign amid fight with BHP

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Brazilian Indigenous leaders who are fighting a class action suit against BHP over a tailings dam collapse say they face similar struggles to First Nations Australians

A group of First Nations Brazilians taking on the mining company BHP say a voice to parliament will give Indigenous Australians a critical avenue they were not afforded – the chance to consult.

The delegation is visiting Australia to meet with politicians this week amid their multibillion-dollar class action suit against the Australian mining firm over its role in the devastation caused by the Mariana dam disaster in 2015.

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Pilbara native title case: the fight to decide if Fortescue pays compensation to Indigenous owners

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The Yindjibarndi people say WA and Andrew Forrest’s mining company must pay for the destruction of sacred country and community

In the heart of the Pilbara, two cultures and two systems of law have collided in the red dirt – and in a bitterly contested native title case being fought in the federal court.

To the Fortescue Metals Group – the mining company founded and chaired by billionaire Andrew Forrest – and the state of Western Australia, that red dirt means one thing: iron ore.

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Serious Fraud Office drops 10-year corruption inquiry into Kazakh miner ENRC

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UK agency also shuts other high-profile cases including Rio Tinto investigation

The UK’s Serious Fraud Office has abandoned a criminal investigation into the Kazakh mining group ENRC, ending a decade-long corruption inquiry mired in controversy.

The SFO updated its website on Thursday with a notice that it had closed the case after concluding there was “insufficient admissible evidence” to prosecute the company.

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‘Rise up’: monks urge WA towns to fight minerals exploration in vulnerable Jarrah forests

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After seeing off a bid to explore near the Bodhinyana monastery, the forest monks are encouraging others to ‘keep the pressure on’

Buddhist monks who have sought enlightenment in a globally unique forest in Western Australia are standing defiant after fighting off an attempt to explore their area for minerals.

Conservationists say the northern Jarrah forest in the state’s south-west, already under pressure from climate change, is the target of several mining companies looking to explore for minerals needed for the clean energy transition.

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Andrew Forrest cleared of wrongdoing after Fortescue ordered review into anonymous allegation

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Mining company engaged a private law firm to investigate when directors became aware of an anonymous letter about the executive chairman

Fortescue Metals ordered a review into an anonymous allegation about the behaviour of its executive chair, Andrew Forrest, after a whistleblower tipoff, but cleared him of wrongdoing.

The company said in a statement it engaged an independent law firm that had not previously represented Fortescue or its billionaire founder to investigate the issue.

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Nicola Forrest to become Australia’s second richest woman after split from billionaire Andrew Forrest

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Pair say decision to live apart will have no impact on their shared business interests and philanthropy

Australia’s wealthiest couple Andrew and Nicola Forrest have separated after more than three decades of marriage, but they say the split will not affect their shared business or philanthropic interests.

Most of their wealth comes from a more than one-third stake in iron ore miner Fortescue, which is attempting to diversify into hydrogen production.

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Brazil says illegal miners driven from Indigenous territory, but ‘war’ not over

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Country’s top cop said 90% of miners despoiling Yanomami land had been expelled, though experts say they are only displaced

Brazil’s top federal police chief for the Amazon has celebrated the government’s success in driving thousands of illegal miners from the country’s largest Indigenous territory but warned the “war” against environmental criminals is not yet over.

Speaking during a visit to the Amazon city of Belém, Humberto Freire estimated environmental and police special forces had expelled 90% of the 20,000 miners who had been devastating the protected Yanomami territory, since launching their clampdown in February.

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Cadia goldmine could be source of some lead found in water tanks, miner says

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Exclusive: General manager says chemical analysis shows ‘slight overlap’ of mine lead and samples from local residents’ rainwater tanks

Chemical analysis has identified the Cadia Hill goldmine as a potential source of some of the lead found in samples collected from nearby residential rainwater tanks in central west New South Wales, the mine’s management has said.

The NSW Environment Protection Authority has been investigating the goldmine – one of the largest in the world – since May, when it issued Newcrest’s Cadia Holdings Pty Ltd with a draft pollution prevention notice and a draft licence variation regarding its management of emissions of dust and other pollutants. It followed local residents, including children, reporting heavy metals in their blood and rainwater tanks.

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Future of deep-sea mining hangs in balance as opposition grows

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Ireland and Sweden join countries calling for moratorium on extraction of metals from seabed as UN-backed authority prepares for crucial talks

The list of countries calling for a pause on deep-sea mining continued to grow this week ahead of a key moment that mining companies hope will launch the fledgling industry, and its opponents hope could clip its wings, perhaps for good.

Ireland and Sweden became the latest developed economies to join critics, including scientists, environmental organisations and multinationals such as BMW, Volvo and Samsung. The carmakers have committed not to use minerals mined from the seabed in their electric vehicles.

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‘It is like a virus that spreads’: business as usual for Wagner group’s extensive Africa network

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Despite Yevgeny Prigozhin’s rebellion against the Kremlin, his military contracts are proving too profitable to lose

Four days after Wagner group mercenaries marched on Moscow, a Russian envoy flew into Benghazi to meet a worried warlord. The message from the Kremlin to Khalifa Haftar, the self-styled general who runs much of eastern Libya, was reassuring: the more than 2,000 Wagner fighters, technicians, political operatives and administrators in the country would be staying.

“There will be no problem here. There may be some changes at the top but the mechanism will stay the same: the people on the ground, the money men in Dubai, the contacts, and the resources committed to Libya,” the envoy told Haftar in his fortified palatial residence. “Don’t worry, we aren’t going anywhere.”

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Amazon facing ‘urgent’ drug crisis after gutting of protections, says narcotics chief

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Brazilian government warning comes as UN report says that flourishing organized crime groups are driving a boom in environmental devastation

The Brazilian government’s drug policy chief has admitted that the rapid advance of drug factions into the Amazon rainforest has produced a “a very difficult situation” in the region, as a UN report warned that flourishing organized crime groups were driving a boom in environmental devastation.

Marta Machado, the national secretary for drug affairs, said the previous administration’s intentional dismantling of Brazil’s environmental and Indigenous protection agencies had created a dangerous vacuum in the Amazon which had been occupied by powerful crime syndicates from Rio de Janeiro and São Paulo.

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The multinational companies that industrialised the Amazon rainforest

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Analysis shows handful of corporations extract tens of billions of dollars of raw materials a year – and their commitments to restoration vary greatly

A handful of global giants dominate the industrialisation of the Amazon rainforest, extracting tens of billions of dollars of raw materials every year, according to an analysis that highlights how much value is being sucked out of the region with relatively little going back in.

But even as the pace of deforestation hits record highs while standards of living in the Amazon are among the lowest in Brazil, the true scale of extraction remains unknown, with basic details about cattle ranching, logging and mining hard to establish despite efforts to ban commodities linked to its destruction.

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Australia politics live: Christian Porter will not act in Palmer lawsuit against government due to conflict, estimates told

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Former attorney general received confidential information while in office and has said he will not act for Clive Palmer, senators hear. Follow the day’s news live

Cricket builds friendship between Australia and India, says Albanese

Narendra Modi described the Australia-India relationship last night as the three Cs – commonwealth, cricket and curry, the three Ds – diaspora, democracy and dosti (Bollywood film series and friendship) and the 3Es – economy, energy and education.

There is always a discussion about cricket when Australians and Indians gather and I did get the experience of being day one of the fourth test for a brief time with Prime Minister Modi. It was quite an experience in the world’s biggest stadium there in March and Australians and Indians are very passionate about their cricket but it is part of the way that we build our friendship between our two nations.

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Battery passports: how a meeting at Davos helped set a car industry standard

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Mining groups hope their joint project, ReSource, will have an influence on the global business

“It’s incredibly exciting,” said Benedikt Sobotka, the chief executive of mining company Eurasian Resources Group (ERG). Sitting in front of an audience in January at Davos, the ski resort that hosts an annual gathering of the world’s business elite, he waved a piece of paper with a QR code that he hopes will eventually be attached to every electric car battery in the world.

Sobotka’s excitement reflected his involvement in setting up ReSource, a joint project with fellow miners Glencore and IXM to provide battery “passports” for electric cars. It also hinted at his bigger hopes: that his mining company and its partners could take an influential role in the future of the automotive industry.

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