gantheaume point in broome, western australia
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Western Australia has climbed to first place in the Fraser Institute's annual report, up from fourth place the previous year.

The Australian state of Western Australia has become the new top destination for mining investment, overtaking Nevada to claim first place, according to Canada’s Fraser Institute.

This year’s Annual Survey of Mining Companies ranks 84 jurisdictions around the world based on geologic attractiveness (minerals and metals), and government policies that encourage or deter exploration and investment.

Western Australia, which accounts for about 37 percent of the world’s iron ore production, moved up from fourth place in 2020 to lead the 2021 list; it's followed by the Canadian province of Saskatchewan, which climbed from third to second place, and Nevada in the US, which fell from the top place previously.


Rounding out the top 10 jurisdictions are Alaska, Arizona, Quebec, Idaho, Morocco, Yukon and South Australia.

In 2021, Western Australia’s resource industry achieved record sales of AU$230 billion and accounted for more than half of national goods exports, according to the Department of Mines, Industry Regulation and Safety.

Iron ore sales from the state surged to an unprecedented AU$157 billion given high prices and supply interruptions in competing markets. Meanwhile, the gold industry contributed to more than AU$16 billion in sales, underpinned by strong prices as economic and geopolitical uncertainty continued.

“Western Australia’s resources industry continued to deliver impressive results across key sectors and commodities, despite facing a challenging year,” Bill Johnston, the state's mines and petroleum minister, said in a statement. “(Its) remarkable range of critical and battery minerals, including lithium and nickel, will play a big part in our future success as the world transitions to clean energy.”

Lithium sales in Western Australia soared to an all-time high of AU$2.6 billion last year — a threefold increase — while nickel sales grew to AU$3.7 billion, the highest value since 2012.

In 2020 to 2021, investment in Western Australia’s mining and petroleum sector hit almost AU$21 billion, up from AU$19 billion in 2019 to 2020. Meanwhile, mineral exploration expenditure was AU$2.1 billion in 2020 to 2021 — that was its highest level since 2012, as well as a 21 percent increase from AU$1.7 billion in the preceding period.

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

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

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Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha. Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local …

Rio Tinto Iron Ore Chief Executive, Simon Trott and Rio Tinto Managing Director of Port, Rail and Core Services, Richard Cohen, joined community members, local businesses and representatives from local government to celebrate the official opening of its new community ‘Hub’ in Karratha.

Located on Ngarluma country in the heart of Karratha’s CBD, the new Rio Tinto Karratha Hub will make it easier for local people to connect with our busines.

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people walking past the display board of the sydney exchange square
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The Australian Securities Exchange is home to diverse companies and has a market cap of more than AU$2.5 trillion. Where did it all begin?

The Australian Securities Exchange (ASX) is headquartered in Sydney, Australia, and is home to over 2,100 companies. Led by some of the world's major resource, technology and financial corporations, the ASX boasted a domestic market cap of over AU$2.5 trillion as of the beginning of 2022.

The ASX acts as a market operator, clearing house and payments facilitator. It allows for the trading of a wide variety of securities, including shares, bonds, futures, options, exchange-traded funds, index derivatives and listed investment companies. The ASX mandates compliance with its operating rules and encourages high standards of corporate governance among Australia’s listed companies.

Ranked by market cap, the top 10 major stocks traded on the exchange are BHP Group (ASX:BHP), the Commonwealth Bank of Australia (ASX:CBA), CSL (ASX:CSL), National Australia Bank (ASX:NAB), Westpac Banking (ASX:WBC), Australia and New Zealand Banking Group (ASX:ANZ), Macquarie Group (ASX:MQG), Fortescue Metals Group (ASX:FMG), Wesfarmers (ASX:WES) and Telstra (ASX:TLS).


Depending on global market fluctuations, the ASX normally ranks as the 16th or 17th largest national stock exchange in the world. In addition, it's the largest interest rate derivatives market in Asia, and one of the largest in the world, with total futures and options contract exposure nearing AU$50 trillion.

History of the ASX: How the exchange began

The first Australian stock exchange was established in Melbourne in 1861. Over the course of the next few decades, five additional regional exchanges located in various Australian state capitals came into being: Sydney in 1871, Hobart in 1882, Brisbane in 1884, Adelaide in 1887 and Perth 1889.

The first interstate stock exchange conference was held in Melbourne in 1903; it brought together representatives of the Sydney, Brisbane, Melbourne and Adelaide stock exchanges. The remaining two in Hobart and Perth would soon join the annual event. The six state exchanges continued to trade independently of each other, however, until 1937, when the Australian Associated Stock Exchanges (AASE) was established.

This was a milestone that brought Australian stock trading into closer alignment with global standards through the implementation of uniform listing requirements, broker regulations and commission fees. The AASE also set official guidelines for government and corporate bond issues.

This led to the creation of the first Australian consolidated share price index in 1938; it was a forerunner to the establishment of the All Ordinaries Index (INDEXASX:XAO) in 1979. Commonly known as the "All Ords," the new index replaced the six regional indices and became Australia's first official national share price index.

Importantly, this act not only consolidated share trading into a single structural framework, but also created a comprehensive institutional benchmark that promoted greater visibility and clarity for domestic and international investors. The base value for the All Ordinaries Index was set at 500 and trading began on January 2, 1980.

Australian stock trading then entered the modern era with the foundation of the Australian Stock Exchange in 1987. The company came into being through legislation passed by the Parliament of Australia, which authorised the fusion of the six independent state-based exchanges into a single body.

In 1998, the ASX became a listed corporation, which transformed former exchange members into shareholders. The ASX floated its shares on its exchange at an initial price of AU$4, thus becoming the first stock exchange in the world to become a publicly traded company.

In 2000, the ASX took the critical step of replacing the All Ordinaries Index with the creation of the S&P/ASX 200 Index (INDEXASX:XJO), which immediately became the primary institutional benchmark for the Australian market. By joining forces with Standard & Poor's, long recognised as the global leader in ensuring liquid and efficient trading markets, the ASX helped raise its profile as one of the world's leading exchanges.

Finally, in 2006, the Australian Securities Exchange was created with the merger of the Australian Stock Exchange with the Sydney Futures Exchange. The new name — ASX Limited — was introduced to reflect the new entity's expanded product range. The Australian Securities Exchange has come to be known by its three-letter listing, ASX.

Today, the S&P/ASX 200 is the most widely followed Australian market index by professional investors, and consists of the top 200 companies on the ASX. The ASX 200 is commonly quoted alongside the All Ordinaries Index, which is a more broadly based market index consisting of the 500 largest companies on the exchange.

The metals and mining sector, led by global giants BHP, Fortescue and Rio Tinto (ASX:RIO), is the most heavily weighted portion of the ASX exchange. Accordingly, fluctuations in world commodities prices play a major role in share price movements in this sector, which has a relatively larger corresponding impact on the ASX as a whole.

History of the ASX: Major ASX index falls

As has been the case with virtually every major global stock exchange over the past century, the ASX and its forerunners have experienced their own series of major booms and busts.

On October 19, 1987, "Black Monday," a selloff in the US stock market driven by computerised trading, caused a global wave of panic selling that saw the All Ordinaries Index plunge 516 points, or more than 25 percent. The index fell by a staggering 50.5 percent from the beginning of October to November 13.

On November 2, 2007, the S&P/ASX 200 reached a record intraday trading high of 6,851.5 before plunging 54.5 percent in the year 2008 owing to the global financial crisis. The ASX 200 would go on to record its worst single-day trading loss in history on October 10, 2008, when it fell 8.3 percent.

Most recently, the S&P/ASX 200 set a new one-day trading loss on October 16, 2020, when it fell nearly 10 percent amid COVID-19 fears and news that the US Federal Reserve had cut interest rates to near zero.

Despite these major meltdowns, the ASX 200 reached an all-time closing day high of 7,628.9 on August 13, 2021.

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

Securities Disclosure: I, Harold Von Kursk, currently hold no direct investment interest in any company mentioned in this article.

Rio Tinto is progressing an innovative new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions. Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to metallic …

Rio Tinto is progressing an innovative new technology to deliver low-carbon steel, using sustainable biomass in place of coking coal in the steelmaking process, in a potentially cost-effective option to cut industry carbon emissions.

Over the past decade, Rio Tinto has developed a laboratory-proven process that combines the use of raw, sustainable biomass with microwave technology to convert iron ore to metallic iron during the steelmaking process. The patent-pending process, one of a number of avenues the company is pursuing to try to lower emissions in the steel value chain, is now being further tested in a small-scale pilot plant.

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Marquee Resources
Marquee Commences Drilling - Kibby Basin Lithium Project, Nevada
Marquee Commences Drilling - Kibby Basin Lithium Project, Nevada

Marquee Resources Limited (“Marquee” or “The Company”) (ASX:MQR) is pleased to announce the highly encouraging results from a recently completed ground gravity survey at the Clayton Valley Lithium Project, Nevada, USA.


Highlights

  • Recently acquired gravity data identifies a highly prospective channel for brine and clay hosted lithium, east of the Clayton Valley.
  • Clayton Valley Lithium Project (“Clayton Valley” or “The Project”) covers approximately ~12sqkm of claims in an area endowed with both lithium-rich brines and clays. The Project is located within the southern portion of the Clayton Valley Basin, proximal to the Silver Peak lithium mine which is the only producing lithium mine in North America - owned by the world’s largest lithium producer, Albemarle.
  • The Project is approximately 3.5 hours from Tesla’s Gigafactory Number 1, a large lithium-ion battery factory, and adjacent to Pure Energy Minerals (TSXV:PE) current mineral resource.
  • Clayton Valley drilling is planned to test high-priority targets in Q3-2022. Whilst the highly prospective Kibby Basin Lithium Project (located 10km east of ASX-listed Ioneer Ltd (ASX: INR) flagship Rhyolite Ridge Lithium-Boron Project) commenced drilling last week.

Results from the gravity survey identify a northeast trending channel on the eastern edge of the Clayton Valley that is interpreted to be prospective for brine and clay hosted lithium (Figure 1).

The Company completed an initial drill program (refer ASX release 26 November 2017) that confirmed the presence of lithium brine and a lithium hosting horizon on the Western side of the property. These results, coupled with the gravity results presented in this release, has proven that the lithium potential extends further east than previously considered.

The project is approximately 3.5 hours from Tesla’s Gigafactory Number 1, a large lithium-ion battery factory that sits on a gravity high interpreted to represent a graben (uplifted basin sediments), associated with normal faulting adjacent to Pure Energy Minerals (TSXV:PE) current mineral resource.

Drilling on these highly prospective Clayton Valley targets is planned to be completed in Q3-2022 and will test the high-priority targets generated from the gravity survey.