Australian Miners Tell Canberra: Get on with Your Job

Australian Miners Tell Canberra: Get on with Your Job

Minerals bodies across Australia have congratulated the new prime minister while stressing the need for stability for the resource sector.

Australia’s new Prime Minister Scott Morrison is the sixth leader of the land down under in 10 years, with former Prime Minister Malcolm Turnbull removed from the top job by his own party following a conservative “insurgency” over the course of a week.

The latest bout of political upheaval in what has become known as the land of the bloodless coup has miners across one of the world’s premier mining destinations gently encouraging politicians to not do that again.

“The Australian minerals sector encourages stable government following the Liberal Party leadership change,” said the Minerals Council of Australia on Friday (August 24), the day Morrison took power.

The council, which is Australia’s top mining lobby group, strongly implied that it would like the government to return to matters at hand that it wanted to talk about, like “a competitive investment environment and less red tape” instead of engaging in anything like the last week in Australian politics, wherein the government was consumed by infighting and not actually running the country.

Top mining and energy bodies in the two primary mining states — Queensland and Western Australia also piled on, although mostly with praise for Morrison.

“Scott Morrison knows what makes regional Queensland tick, and he understands the importance of our most valuable industries — like resources,” said Queensland Resources Council chief executive Ian Macfarlane, who himself is a former member of the governing Liberal Party.

“In recent times we’ve seen him make several visits to some of our resources heartlands in Central and North Queensland. And we know he’s a fan of the coal industry, which he proved on the floor of Parliament,” he said, adding that Morrison’s previous position as federal treasurer meant he knew the value of the resources industry.

The Chamber of Minerals and Energy of Western Australia was less warm and more blunt in the headline for its own release, titled “Stability Essential for Western Australian Mining Sector.”

The Chamber’s release still heaped praise on Morrison on his promotion, before elaborating on its title at the end by urging “both sides of politics to return its focus to securing Australia’s economic future.”

Chief executive of the chamber, Paul Everingham, said: “The resources sector thrives on political certainty and I encourage all political parties to return their focus to the development and implementation of sound economic and social policy.”

Australia is widely regarded as one of the world’s premier mining destinations, with resources exports accounting for 53 percent of all exports in 2017, according to the Minerals Council of Australia.

Overall, the markets were mostly unmoved by shenanigans in Canberra, with Australians pretty used to waking up to a new Prime Minister since it became a national pastime for governing parties to knife their own leaders in 2010 — a process that has now been repeated 4 times.

Don’t forget to follow us @INN_Resource for real-time updates!

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

Tempus Closes A $1.9 Million Private Placement

Tempus Resources Ltd (“Tempus” or the “Company”) (ASX:TMR)(TSX.V:TMRR) is pleased to announce that it has closed the non-brokered private placement announced on 23 April 2021 (the “Placement

The Placement has been completed utilising the Company’s available capacity under ASX Listing Rules 7.1 and 7.1A. It includes two tranches: Tranche 1, which consists of 6,037,736 ordinary shares issued on 12 May, 2021, as “Canadian flow-through shares” at a price of C$0.155 (approximately A$0.163) per share for proceeds of approximately C$935,849; and Tranche 2, which consists of 6,065,425 ordinary shares issued on 30 April 2021 at a price of A$0.145 (approximately C$0.138) per share for proceeds of approximately A$879,487. The total proceeds from both Tranche 1 and Tranche 2 of the Placement are approximately A$1,866,149 (C$1,770,042). Following the completion of the Placement, the Company has 98,744,613 shares on issue.

Keep reading... Show less

Galaxy Resources Limited Announcement

Galaxy Resources Limited (ASX: GXY) ( Company ) advises that the following announcement has been made to the Australian Securities Exchange which appears on the Company’s platform (ASX):

  • Appendix 2A

The announcement can be viewed at:

Keep reading... Show less

Massive Sulfide Nickel Drilling Update

Blackstone Minerals Limited (“Blackstone" or the “Company") is pleased provide an exploration update on its flagship Ta Khoa Nickel-Cu-PGE project, for which assay results have been received from drilling at its Massive Sulfide Vein (MSV) prospects (refer Table 3, Table 4 & Appendix 1).

Keep reading... Show less

Novo Completes Malmsbury Option Exercise with GBM Resources Limited

Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX: NVO & NVO.WT; OTCQX: NSRPF) is pleased to advise that it has completed its option exercise to earn a 50% interest in the Malmsbury gold project (the “ Malmsbury Project ”) held by ASX-listed GBM Resources Limited (ASX: GBZ) (“ GBM ”) following the satisfaction of all conditions precedent, including receipt of Australian Foreign Investment Review Board approval (refer to the Company’s news releases dated March 30, 2020 September 24, 2020 and January 15, 2021 for further details).

“We are thrilled to complete our option exercise at Malmsbury,” commented Dr. Quinton Hennigh, Chairman and President of Novo. “We see Malmsbury as a Fosterville analogue given its similar position along the eastern margin of the prolific Bendigo Zone, epizonal orogenic setting and historic high-grade gold production. Our geologic team will pursue aggressive field work over the next few months with the goal of developing drill targets for testing later this year.”

Keep reading... Show less

Rare Earth Elements Demand is Still Growing

Rare Earth Elements are 17 silvery-white heavy metals with special magnetic capabilities. REEs have diverse applications and are commonly used in lasers, glass, superconductors, hard drives, wind turbine generators, and magnetic materials. Despite the name, REEs are abundant in the world, often found underground alongside uranium in sand structures called monazite. REEs concentrate must first be separated from the sand. Neodymium and praseodymium (NdPr) represent about 80% of the value of REE concentrate. Demand for these elements is growing because of their use in electric vehicles, wind turbines, and appliances. Adams Intelligence expects the demand for NdPr to double in the next five years. Removing REEs from monazite and then separating REEs into individual components is a complicated process. Read More >>

News Provided by Channelchek via QuoteMedia

Keep reading... Show less

Top News

Related News