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The company said targeting is based upon an ongoing review of data sets and new information from the recent Thomas Creek diamond drilling program.

Accelerate Resources (ASX:AX8) has announced the commencement of drilling hole TCDD004 as part of the second stage exploration program at the Thomas Creek copper-cobalt prospect in Tasmania, Australia.

The company said targeting is based upon an ongoing review of data sets and new information from the recent Thomas Creek diamond drilling program.

Key features targeted by drill hole TCDD004 are:

  • Coincident surface ovoid magnetic feature and IP changeability anomaly which after 3D inversion resulted in an overlapping 70,000SI magnetic body and channel 18 IP chargeability anomaly shell.
  • Surface features interpreted as illustrating “classic” porphyry alteration, with proximal potassic alteration indicated by a coincident ground magnetic high and ring like high potassium in soils, as well as more distal propylitic alteration shown by high calcium in soils.
  • A broad and unconstrained off-hole DHEM conductor is located east of TCDD001.

Click here to read the full Accelerate Resources (ASX:AX8) press release.

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Highlights: – Former Xstrata plc executive, Mr. Ian Woolsey, has joined Jervois as Group Manager Information Technology – Mr. Woolsey will lead the IT integration of Freeport Cobalt in Finland, Idaho Cobalt Operations in the United States and the São Miguel Paulista nickel-cobalt refinery in Brazil – Mr. Woolsey joins Jervois after more than 10 years with Glencore Xstrata where he led the IT integration of major …

(TheNewswire)

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AustralianSuper announces that it acquired 47,534,965 ordinary shares in the capital of Jervois Mining Limited on 27 October 2020 and a further 13,120,773 Shares on 3 December 2020 such that immediately following the second acquisition, AustralianSuper held a total of 108,450,700 of the issued and outstanding Shares in Jervois. The Shares were acquired pursuant to private placements by Jervois to institutional and …

AustralianSuper announces that it acquired 47,534,965 ordinary shares (“Shares”) in the capital of Jervois Mining Limited (ASX: JRV) (TSXV: JRV) (“Jervois”) on 27 October 2020 and a further 13,120,773 Shares on 3 December 2020 such that immediately following the second acquisition, AustralianSuper held a total of 108,450,700 (or approximately 13.71%) of the issued and outstanding Shares in Jervois.

The Shares were acquired pursuant to private placements by Jervois to institutional and sophisticated investors. The average purchase price per Share was AUD0.305/ CAD0.29 for an aggregate total purchase consideration of AUD18.5 million/ CAD17.6 million .

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HIGHLIGHTS: -James May becomes Jervois’ CFO after almost 15 years in leadership roles with Rio Tinto -Mr May’s most recent role in Rio Tinto was as Interim Vice President, Sales and Marketing for the Energy & Minerals portfolio, based in Singapore -Mr May was also previously the CFO of Energy Resources of Australia Limited, an ASX-listed uranium miner, majority owned by Rio Tinto -Mr May also worked in various …

(TheNewswire)

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Altan Rio

Altan Rio: Targeting Near-Term Cashflow in Western Australia

AMO:CA
carbon emissions

Following international pressure, the Australian government has promised to reach net zero emissions by 2050.

In a last-minute commitment after months of debate, the Australian government has promised to reach net zero emissions by 2050, expecting to meet the goal largely through technology development.

The move comes following international pressure as Australia had previously refused to join countries in pledging to meet the target ahead of the United Nations' COP26 climate conference in Glasgow.

However, the plan unveiled on Tuesday (October 26), which includes a government investment of AU$20 billion, does not strengthen the target set for 2030, with Prime Minister Scott Morrison saying Australia is on track to beat its Paris Agreement goal, cutting emissions by 30 to 35 percent by that decade.


"We will do this the Australian way," Morrison said ahead of a press conference, announcing investments in new energy technologies like hydrogen and low-cost solar.

An Australian hydrogen industry could be worth more than AU$50 billion in 2050, according to the government. Meanwhile, expanding production and processing of metals like lithium, nickel, copper and uranium could together be worth around AU$85 billion in exports in 2050.

That said, Australia will continue to be heavily dependent on fossil fuels as the plan will not shut down coal or gas production. The country is a major coal player, with the third largest reserves in the world, but its reliance on coal-fired power makes it one of the world's largest carbon emitters per capita.

"We want our heavy industries, like mining, to stay open, remain competitive and adapt, so they remain viable for as long as global demand allows," Morrison said. "We will not support any mandate — domestic or international — to force closure of our resources or agricultural industries."

Australia's desire to achieve net zero emissions by 2050 is a step in the right direction, Prakash Sharma, Wood Mackenzie's Asia Pacific head of markets and transitions, said.

"Our analysis shows that Australia can reach net zero emissions by 2050," he said. The country's major trading partners — China, Japan and South Korea — are already in transition towards that goal.

According to Wood Mackenzie, nearly 83 percent of Australia's power generation will come from solar and wind by 2050, as compared to about 20 percent last year. Natural gas, bio energy, geothermal and small modular reactors will supply the remaining 17 percent in power output. Coal into power is expected to be phased out by 2035.

"Although the pathway requires complete transformation of its traditional energy and export sectors, there are significant opportunities to capitalise on and protect future revenues," Sharma said.

"This will require Australia to become a significant player in low-carbon hydrogen trade as well as being able to offer carbon storage and offset services."

Meanwhile, the Australian Conservation Foundation has welcomed the prime minister's commitment to reach net zero by 2050, but said the mid-century goal is only meaningful with deep cuts to climate pollution this decade.

"Unless the government sets the wheels in motion to cut our emissions in half by 2030, it is making climate change worse and turning its back on the opportunities," said Chief Executive Kelly O'Shanassy.

"Australia can become a global clean energy superpower in the next decade by replacing coal and gas with renewable energy," she added. "We have abundant clean energy, tools and talent, but we cannot delay any longer."

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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.