Energy

Rio Tinto Executive Committee changes

Following the publication on 24 August 2020 of the Board Review of Cultural Heritage Management (the Board Review), undertaken in response to the destruction of the Juukan rockshelters in May 2020, the Board of Rio Tinto has engaged extensively with shareholders, Traditional Owners, Indigenous leaders and other stakeholders. While there is general recognition of the transparency of the Board Review and support for the changes recommended, significant stakeholders have expressed concerns about executive accountability for the failings identified. By mutual agreement, J-S Jacques will step down from his role as an executive director and Chief Executive of the Group. A process to identify his successor is underway. J-S will remain in his role until the appointment of his successor or 31 March 2021, whichever is earlier. This will ensure business continuity to maintain the strong performance of the Group’s global operations during Covid-19. Chris Salisbury will step down as Chief Executive, Iron Ore with immediate effect and will leave Rio Tinto on 31 December 2020. Ivan Vella, currently Managing Director for Rail, Port & Core Services within Rio Tinto Iron Ore, will replace him on an interim basis, following a handover period with Chris. Simone Niven will step down as Group Executive, Corporate Relations, and will leave the Group on 31 December 2020 after completing an orderly transition of her responsibilities. As previously announced, Rio Tinto is establishing a new Social Performance assurance function, reporting to Mark Davies, Group Executive, HSE, Technical and Projects, to strengthen oversight of communities and heritage practices and performance within the operations. In order to enhance Board engagement in Australia, Simon McKeon, non-executive director, is appointed Senior Independent Director, Rio Tinto Limited with immediate effect. This newly created Board role will complement the existing Senior Independent Director role, which will continue to be performed […]

Invention could save old coal stations by running them on zero-emissions ‘Lego’ blocks

As climate change worsens, the future of fossil fuel jobs and infrastructure is uncertain. But a new energy storage technology invented in Australia could enable coal-fired power stations to run entirely emissions-free. The novel material, called miscibility gap alloy (MGA), stores energy in the form of heat. MGA is housed in small blocks of blended metals, which receive energy generated by renewables such as solar and wind. The energy can then be used as an alternative to coal to run steam turbines at coal-fired power stations, without producing emissions. Stackable like Lego, MGA blocks can be added or removed, scaling electricity generation up or down to meet demand. MGA blocks are a fraction of the cost of a rival energy storage technology, lithium-ion batteries. Our invention has been proven in the lab – now we are moving to the next phase of proving it in the real world. Why energy storage is important Major renewable energy sources such as solar and wind power are “intermittent”. In other words, they only produce energy when the sun is shining and the wind is blowing. Sometimes they produce more energy than is needed, and other times, less. So moving to 100% renewable electricity requires the energy to be “dispatchable” – stored and delivered on demand. Some forms of storage, such as lithium-ion batteries, are relatively expensive and can only store energy for short periods. Others, such as hydro-electric power, can store energy for longer periods, but are site-dependent and can’t just be built anywhere. If our electricity grid is to become emissions-free, we need an energy storage option that’s both affordable and versatile enough to be rolled out at massive scale – providing six to eight hours of dispatchable power every night. MGAs store energy for a day to a week. This fills a “middle” time frame between […]

Golden run continues for Oz Minerals

Strong gold prices matched by higher volumes has helped Adelaide-based miner Oz Minerals record a net profit after tax of $80 million for the six months to June 30. The profit was up 82 per cent on the same period last year. The company, which operates the Prominent Hill and Carrapateena copper and gold mines in South Australia, increased its net revenue by $156.5 million to $575.7 million, as a result of higher gold volumes and price. Gold sales increased by 53,800 ounces and the net A$ gold price was 36 per cent higher. The Carrapateena mine is expected to reach full production of 4.25Mtpa by the end of the year, further strengthening cash flows. The company also announced a fully franked interim dividend of 8 cents per share to the ASX this morning. OZ Minerals Chief Executive Andrew Cole said the strong first-half performance enabled it to last year increase its copper and gold guidance for 2020. “All our sites and has benefited from higher gold production and favourable gold pricing through the period,” he said. “The ramp-up at Carrapateena during the half year has exceeded expectations with a strong performance from the underground materials handling system, production system and plant allowing an increase to production guidance. “The Prominent Hill underground is performing well, and we have seen annualised ore mining rates of ~4.5Mtpa achieved through July.” Oz Minerals shares increased more than 2 per cent in early trade this morning to $14.42 following the announcement. The positive result was no surprise, following five months of strong growth for Oz Minerals. The company’s share price started the year at $10.55 but slumped due to weak copper prices and coronavirus uncertainty, bottoming out at $5.99 on March 23. Since then, Oz Minerals share price has more than doubled as its […]

An offshore production platform in a Gulf of Thailand

LAT-Series air-powered hydraulic torque wrench pumps highly productive

Global hydraulic tool and lifting leader Enerpac is introducing to Australia, New Zealand and PNG a new compact, portable and powerful air-powered torque wrench pump for high productivity in hard-to-access locations. Weighing in at approx. 18kg (40lb) with oil, the Enerpac LAT Air Hydraulic Torque Wrench Pump is easy to lift, transport and manoeuvre. The pump comes with an integrated carry handle and can be carried by a single operator up stairs when a crane, hoist or elevator is not available. It is easy to manoeuvre in narrow and constrained spaces such as scaffolding, catwalks, pipe racks and lifts. The LAT pumps are ideal for high repetition torque wrench applications that need air power, such as oil and gas, petrochemical, power generation and mining, but have limited access, so a larger pump would not be practical or efficient. The pump features a proven Enerpac piston design, reinforced Filter Regulator Lubricator (FRL) support and air supply connection, designed to provide years of reliable service with fastening and break out speeds to keep jobs on schedule and on budget. High productivity, reduced equipment downtime “The LAT pump has best-in-class, flow-to-weight performance. Its industry-proven air motor and three-piston design enable operators to complete their hydraulic torque wrench applications faster, while always ensuring top levels of safety. The durable, reliable new pumps are designed and tested for use in tough environments. The roll cage protects key components and provides increased support and protection of the FRL from vibration. The heavy-duty air supply connection and proven piston design enables long life. Key components are easy to access for service and a skid rail accessory prevents reservoir wear from rough surfaces. Applications include: Oil and Gas -Upstream, Midstream, Downstream; Petrochemical -Well heads, pipelines, pumping systems, heat exchangers; Power Generation -Gas Turbine Maintenance; Mining – Conveyor system […]

The safety and cost benefits of an autonomous mining industry

Gaurav Sharma, Head of Industries Business for ANZ, Cognizant Employee safety is a major concern for Australian mining corporations. Even today, with arguably the best mining safety regulations in the world, there continues to be serious injuries and sometimes fatalities. Fortunately, the industry is in a good position to address these concerns with the help of technological advancements in automation. The benefits of automation stretch beyond safety McKinsey estimates that digital innovation in the mining industry can be worth $370 billion per year worldwide in 2025. A key element of digital innovation is automation ― automation of operating equipment, technology functions, and business processes. Already Australia is a world leader in mining equipment automation, including automated trucks, drill rigs, trains and port operations. Implementing automation across various facets of the mining industry can improve safety and improve productivity. While autonomous mining equipment requires companies to inject significant capital, it is balanced by lower operating costs. Automating mining equipment including haul trucks can mitigate the danger of driver fatigue and boost the efficiency of long-haul transportation, adding much more value to the supply chain of the industry. Sensor technology is now so advanced that autonomous trucks could sense even the smallest of hazards — like a bird flying in front of it — and react accordingly. The future has already arrived for autonomous driving in the sector Autonomous operations are now a working reality within the Australian mining sector. One of Australia’s leading mining corporations is a world leader in autonomous mining equipment technology. Since deployment, the company has had zero injuries, highlighting the major safety and productivity benefits that autonomous mining trucks provide. Are autonomous trucks the canary-in-the-coal-mine for other mining jobs? While there is a concern that autonomous trucks will replace jobs in Australia’s mining industry, the good news […]

CreditorWatch-CEO-Patrick-Coghlan-AUS-MN-Website

Josh Frydenberg’s budget announcement

Commentary from CreditorWatch CEO Patrick Coghlan, urging the government to look closely at small business measurers to drive Australia’s economic recovery: “Treasurer Josh Frydenberg is right to portray the next financial year as a ‘mountain to climb’ for Australia but it is encouraging that the country is in a good position versus our international counterparts. Whilst 870,000 jobs were lost between March and May, the government’s economic stimulus package and measures included within the Safe Harbour legislation, saved thousands of businesses from going under. “However, now comes the difficult balancing act of tapering off such measures, ensuring that the maximum number of jobs are protected whilst making sure that good money is not wasted on poorly performing companies. CreditorWatch data suggests that in April, May and June, hundreds of companies that in normal times would have gone into administration have been kept afloat. These ‘zombie’ companies will hold back our national recovery, so we’re urging company directors to seek external guidance on whether they have a viable future. “Measures outlined by Small Business and Family Enterprise Ombudsman Kate Carnell on Tuesday will be critical to the recovery of Australia’s small business sector, which employs 44 per cent of all Australians. CreditorWatch data shows payment times in June lengthened to an average of 49 days across all industries. Legislating 30-day payment terms for small businesses will level the playing field for SMEs, whilst the introduction of a “fit for business” grant would provide them with a much-needed injection of capital. This will be money well spent and the government should prioritise such changes so that Australia’s small business sector can help drive the national recovery we need.”

Brighsun’s Li-S Batteries to enter industrial trials

Lithium Sulfur (Li-S) Battery Technology Breakthrough Through nearly 8 years of research, the Australian company Brighsun’s team, developed lithium-sulfur (Li-S) batteries with an energy density 5-8 times higher than conventional secondary batteries. According to results from an internationally accredited testing agency (SGS), Brighsun’s new technology allows an Li-S battery to keep 91% of its initial capacity after 1,700 cycles at a rate of 2C (being fully charged/discharged in 30 mins). That means the capacity decay per cycle is as low as 0.01%. Even at a more aggressive rate of 5C (being fully charged/discharged in 12.5 mins), Brighsun’s Li-S battery retains 74% of its initial capacity after 1,000 cycles (capacity decay per cycle of 0.026%). The cathode energy density for the 1th cycle after activation at charge rate of 1C is 2103.8Wh/kg. Driven by the growing markets world-wide for EVs, the battery industry has explored a range of chemical combinations: lithium iron phosphate, lithium cobalt oxide and, currently, nickel manganese cobalt. However, current battery systems still suffer from the major disadvantages of relatively low energy density, high raw material costs and secondary pollution during recycling. A Game Changer Brighsun’s advanced Li-S chemistry, offering high energy density and resultant low raw material costs, will be a game changer in the EV industry. Li-S batteries also have the potential to become the most promising energy storage systems for future railways, ships and airlines. Industries such as electric supply grid storage, mobile phones, drones and AI will also benefit from dramatically higher energy density storage provided by Brighsun’s new battery system. Companies in the US, Germany, Korea and China have been developing Li-S batteries and have achieved promising breakthroughs. However, these systems still face a number of challenges, including volume expansion of cathode materials during cycling, the shuttling effect of polysulfides, and the dendritic […]

Aquila NFU glove meets mining needs worldwide

Mining – an ages-old industry where personal injury and danger have been constant concerns, and where Aquila are delighted to now offer a range of gloves designed with exactly this situation in mind. Their NFU600S meets the general-purpose needs of mining workers for an enhanced grip protective glove that is both comfortable to wear over a long shift and low cost to purchase. Aquila NFU600S gloves feature a 13-gauge nylon liner in a fine knit outer palm dipped in sandy nitrile. The user experience is expected to include good grip, especially of slippery oily parts, coupled to a high degree of flexibility and durability with optimum dexterity in handling small items. The foam nitrile palm coat provides liquid resistance while leaving the remainder of the glove to breathe comfortably. The NFU600S is part of an Aquila mining-oriented offering which also includes a wide range of impact protection gloves – plus cut resistance gloves where sharp object protection is required.

sonnen receives Australia’s Research and Development Investment Award

sonnen has won an award from The Minister for Trade, Tourism and Investment (MTTI) for its direct investment in Elizabeth, South Australia to manufacture sonnenBatteries bringing new skills and capabilities to Australia and creating export opportunities for its home batteries to Asia Pacific. sonnen received the Research & Development Investment Award at the 57th Australian Export Awards in Canberra. The Investment Award pays tribute to an international company or joint venture that has made an enduring contribution to the Australian economy through creating or safeguarding jobs, cultivating innovation or developing new industry capability in Australia, facilitating the expansion of Australian industry within global supply chains and making a difference to the local community. Nathan Dunn, CEO of sonnen Asia Pacific said, “We are honoured to receive the Research & Development Investment Award. sonnen established a manufacturing facility at the former Holden factory as it provided a perfect opportunity for us to leverage the skills that South Australia has built in its workforce for manufacturing. We’ve hired former Holden employees and equipped them with new skills and jobs to build a cleantech manufacturing industry right here in Australia.” “As part of our commitment to innovation, we have created a small research and development team in South Australia that looks into how we are adapting sonnenBatteries for deployment in Australia and to support the rollout of Virtual Power Plants. With the growth in the adoption of rooftop solar, we have the capacity to export sonnenBatteries to Asia Pacific creating new economic opportunities for our country.” sonnen commenced the manufacturing of home batteries in November 2018 and it produces sonnenBatteries that are installed in Australia and exported to New Zealand. sonnen’s home batteries are certified Australian Made and recognised by the South Australian Office of the Industry Advocate (OAIC) as a manufacturer of […]

Takeovers Panel findings in relation to Energy Resources of Australia

Rio Tinto acknowledges the findings of the Takeovers Panel in relation to Energy Resources of Australia Limited’s (ERA) renounceable entitlement offer to raise $324 million (A$476 million) for the rehabilitation of the Ranger Project Area in Australia’s Northern Territory. The company will consider the Panel’s judgement before determining next steps. Rio Tinto group executive Energy & Minerals Bold Baatar said “Rio Tinto agreed to fully subscribe to and underwrite an entitlement offer in the absence of any other commercially viable solution being available to ERA for the rehabilitation of the Ranger Project Area. “We will now consider our options in light of the Panel’s orders so that ERA can fulfil its important rehabilitation obligations and commitments to the communities in which it operates and relevant authorities.” Under the terms of its mining approvals, ERA is required to end mining and processing activities at Ranger by January 2021 and complete final rehabilitation by January 2026. On 8 February 2019, ERA finalised its closure feasibility study for Ranger Project Area rehabilitation, resulting in a material increase in anticipated rehabilitation costs. Following this increase, ERA advised it needed extra funding to meet its rehabilitation obligations to the Commonwealth Government, Northern Territory Government and Traditional Owners.

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