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Rio Tinto and Sumitomo Corporation today announced a partnership to study the construction of a hydrogen pilot plant at Rio Tinto’s Yarwun alumina refinery in Gladstone and explore the potential use of hydrogen at the refinery. The two global companies have signed a letter of intent that focuses on Yarwun as the location for a Gladstone hydrogen plant that Sumitomo has been studying. If the project proceeds, the …

Rio Tinto and Sumitomo Corporation today announced a partnership to study the construction of a hydrogen pilot plant at Rio Tinto’s Yarwun alumina refinery in Gladstone and explore the potential use of hydrogen at the refinery.

The two global companies have signed a letter of intent that focuses on Yarwun as the location for a Gladstone hydrogen plant that Sumitomo has been studying. If the project proceeds, the pilot plant would produce hydrogen for the recently announced Gladstone Hydrogen Ecosystem .

The study supports the efforts of Australian, Queensland and local governments to establish Gladstone as a clean hydrogen hub of the future.

Rio Tinto Australia Chief Executive Kellie Parker said “Rio Tinto has a long relationship with Sumitomo and we are delighted to partner with them to explore the possibilities of hydrogen, not only for our own refinery, but for Sumitomo to supply industry more broadly in Gladstone.

“Reducing the carbon intensity of our alumina production will be key to meeting our 2030 and 2050 climate targets. There is clearly more work to be done, but partnerships and projects like this are an important part of helping us get there.”

Sumitomo Corporation’s Energy Innovation Initiative Director Hajime Mori said “We are excited about working together with Rio Tinto as our long-term partner to develop this hydrogen project in Gladstone and working toward our company’s vision of achieving carbon neutrality by 2050.

“We believe the pilot plant will play a significant role in establishing the Gladstone Hydrogen Ecosystem.

“Sumitomo has commenced the Design Study and Preliminary Master Planning to build the Gladstone hydrogen ecosystem and we will continue to work towards future hydrogen exports from Gladstone.

Deputy Premier and Minister for State Development Steven Miles said Gladstone is an industrial powerhouse and this partnership presents a great opportunity for the region and for Queensland.

“This is only the beginning of a wave of international collaborations that will lead to new industries and new jobs underpinned by the supply of renewable energy,” Mr Miles said.

“With the Palaszczuk Government’s strong commitment to creating more jobs in emerging industries, we will work to keep Queensland at the forefront of renewable hydrogen and the opportunities that come with it.”

Minister for Energy, Renewables and Hydrogen Mick de Brenni said the Palaszczuk Government was developing Queensland’s Energy Plan to reinforce our platform for international partnerships focused on new technology and a stronger Australia.

“This is a plan to create a renewable energy ecosystem that will power our low-carbon ambitions to transform industry, create thousands of jobs for Queenslanders, and decarbonise not only Queensland but the nation.”

Minister for Regional Development and Manufacturing and Minister for Water Glenn Butcher said the partnership would provide important economic opportunities for the entire Central Queensland region.

“Gladstone’s world-class deep water port, water security through Awoonga Dam, and industry attraction via the local State Development Area have set Gladstone up to become the hydrogen capital of Australia, providing massive employment and supply chain opportunities both locally and in the Central Queensland region.”

The Sumitomo partnership complements a recently announced feasibility study into using hydrogen to replace natural gas in the alumina refining process at Yarwun and provides the potential for larger-scale implementation if the studies are successful.

About Rio Tinto :

Rio Tinto produces high-quality iron ore, copper, aluminium, and minerals that have an essential role in enabling the low-carbon transition. We have publicly acknowledged the reality of climate change for over two decades and have reduced our emissions footprint by over 30 percent in the decade to 2020. We have set 2030 targets to reduce our absolute emissions by 15% and our emissions intensity by 30% relative to our 2018 baseline. These targets are consistent with a 45% reduction in absolute emissions, relative to 2010 levels, and the Intergovernmental Panel on Climate Change (IPCC) pathways to 1.5°C. They are supported by our commitment to spend approximately $1 billion on emissions reduction initiatives over the first five years of the ten-year target period. In 2020, we set new Scope 3 emissions reduction goals to guide our partnership approach across our value chain. Read more about our approach to climate change: www.riotinto.com/invest/reports/climate-change-report

About Sumitomo Corporation :

Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 135 locations (Japan: 22, Overseas: 113) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilising worldwide networks, provides customers with financing, serves as an organiser and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include six business units: Metal Products; Transportation & Construction Systems; Infrastructure; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics, and one initiative: Energy Innovation.

Sumitomo Corporation established a new business organisation entitled the Energy Innovation Initiative (EII) in April 2021 which will carry this Gladstone project. In order to greatly contribute to the achievement of our long-term goals toward climate change mitigation, “Carbon neutralisation in 2050” and “Realisation of a sustainable energy cycle”, we will accelerate our efforts for the materialisation of a hydrogen society by promoting hydrogen related businesses.

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There are many big Australian gold stocks, but these are the five top companies in the sector by market cap.

Australia is the fourth largest producer of gold worldwide, and this past year has brought ups and downs for the commodity. The precious metal hit its 2021 high point early on and fell soon after.

Lately, gold has been resting at a strong price of around US$1,800 per ounce, and it seems like it will exit the year that way. It may even be in for a serious price hike if inflationary pressures continue on their current trajectory.

Read on to learn more about Australia’s five top gold companies by market cap. All market cap and share price information was obtained on November 25, 2021, using TradingView's stock screener.


1. Newcrest Mining

Market cap: AU$19.54 billion; current share price: AU$24.14

Newcrest Mining (ASX:NCM) operates a portfolio of gold mines across Australia, Canada and Papua New Guinea. These include its New South Wales-based Cadia mine and its Western Australia-based Telfer and Havieron mines.

In November 2021, Newcrest agreed to purchase British Columbia-based Pretium Resources (TSX:PVG,NYSE:PVG) for C$3.5 billion, marking the company’s expansion into Western Canada.

2. Kirkland Lake Gold

Market cap: AU$14.57 billion; current share price: AU$54.99

Kirkland Lake Gold (ASX:KLA) has mining operations in Australia and Canada, both of which are low-risk, gold-rich countries. The company’s Fosterville mine is based in Victoria, Australia, and as of December 31, 2018, its mineral reserves stood at 2.7 million ounces. It produced 640,467 ounces in 2020.

In September 2021, Kirkland Lake Gold and Agnico Eagle Mines (TSX:AEM,NYSE:AEM), a Canadian gold miner, announced a “merger of equals." The new company will go by the name Agnico Eagle Mines, and the companies expect the transaction to close in late 2021 or early 2022.

3. AngloGold Ashanti

Market cap: AU$12.43 billion; current share price: AU$5.83

AngloGold Ashanti (ASX:AGG) is a global gold miner formed in 2004. It has two Australia-based operations, both of which are based in Western Australia’s northeastern goldfields: Sunrise Dam and Tropicana. Sunrise Dam is 100 percent owned, while Tropicana is 70 percent owned, with the remaining 30 percent owned by Regis Resources (ASX:RRL,OTC Pink:RGRNF). In 2020, these operations produced 554,000 ounces of gold.

In Q3 2021, AngloGold Ashanti reported total gold production of 613,000 ounces at a total cash cost of US$927 per ounce. This represents a 5 percent quarter-over-quarter increase in production, though a year-to-date decrease.

4. Northern Star Resources

Market cap: AU$11.39 billion; current share price: AU$9.66

Northern Star Resources (ASX:NST) is an Australian gold-mining company with projects throughout Western Australia and North America at its Kalgoorlie, Yandal and Pogo production centres. In the 2021 fiscal year, Northern Star experienced a 40 percent revenue increase and a 10 percent cash earnings hike.

In late November 2021, Northern Star announced an agreement to buy Newmont Australia’s power business for US$95 million. The company paid US$25 million for the option to purchase this business, an opportunity it was given through its recent 50 percent acquisition of Kalgoorlie Consolidated Gold Mines.

5. Evolution Mining

Market cap: AU$7.53 billion; current share price: AU$4.12

Australian gold miner Evolution Mining (ASX:EVN) has projects throughout New South Wales, Queensland and Western Australia, as well as in Ontario, Canada. Evolution Mining produced 680,788 ounces of gold in the 2021 fiscal year at an all-in sustaining cost of AU$1,215 per ounce.

In 2019, Evolution Mining became one of only two Australian gold companies to be included in the Dow Jones Sustainability Index (INDEXDJX:W1SGI). In 2020 and 2021, the company made several strategic acquisitions and divestments, including its high-value purchases of the Red Lake and the Kundana operations.

This is an updated version of an article originally published by the Investing News Network in 2018.

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

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

What are the largest Australian copper companies? These five ASX copper stocks are the biggest on the exchange by market cap.

Last year, pandemic restrictions forced copper mines to shut down across the world, driving down global production and causing the 10 largest copper-mining companies to suffer dramatic losses.

But in 2021, copper hit an all-time high of US$10,700 per tonne, and stayed over US$9,000 for much of the year.

The three top copper-producing countries globally are Chile, Peru and China, with Australia coming in at number six. Still, there are plenty of untapped resources in the land down under, and Australia is making a name for itself as an up-and-coming producer of this important base metal.


Read on to learn more about the top five Australian copper companies on the ASX, ranked by market cap. All market cap and share price information was obtained on November 26, 2021, from TradingView.

1. BHP

Market cap: AU$192.56 billion; current share price: AU$38.03

BHP (ASX:BHP) is a top global producer of copper, nickel, potash, iron ore and metallurgical coal, with copper production centralised at its South Australia-based Olympic Dam mine.

The company, whose headquarters are in Melbourne, Australia, emphasises copper’s function in renewable energy systems and the metal’s critical role in reducing carbon dioxide emissions.

Recently, BHP has focused its attention on its energy assets. In late November, the company merged its oil and gas portfolio with Woodside Petroleum, a deal that was originally struck in August of the same year. On the mineral side of its operations, BHP was looking to acquire Noront Resources (TSXV:NOT,OTC Pink:NOSOF), a Canada-based nickel, copper, chrome and platinum company, but decided not to match a superior offer.

2. OZ Minerals 

Market cap: AU$8.77 billion; current share price: AU$25.70

OZ Minerals (ASX:OZL) is a South Australia-based copper-mining company founded in 2008. Its operations include the Carrapateena project, where construction was completed in 2019, and the upcoming Malu underground mine, which was commissioned in 2015.

In a November press release, OZ Minerals reported a year-to-date 5 percent increase in group ore reserve copper metal tonnes. In its third quarter results, the company reported guidance of between 120,000 and 145,000 tonnes of copper for the year.

3. Sandfire Resources

Market cap: AU$2.59 billion; current share price: AU$6.11

Sandfire Resources (ASX:SFR) owns 7,189 square kilometres in the Bryah Basin region of Western Australia, including its DeGrussa and Monty operations. Both of these are 100 percent owned and produce copper and gold.

The company released its third quarter results in October, reporting total copper production of 15,946 tonnes. Sandfire expects output of between 64,000 and 68,000 tonnes of copper in 2022.

4. 29Metals

Market cap: AU$1.29 billion; current share price: AU$2.63

Australia-based mining company 29Metals (ASX:29M) has the Golden Grove mine in Western Australia and the Capricorn copper mine in Queensland, along with several promising new growth opportunities lined up. 29Metals focuses on copper production, though it also mines for zinc, gold and silver.

According to an October release from the company, production was weaker than expected at Golden Grove during the September quarter. However, the asset's quarter-on-quarter decline of about 10 percent was largely offset by a strong performance at Capricorn.

5. Copper Mountain Mining

Market cap: AU$804.96 million; current share price: AU$3.81

Copper Mountain Mining (ASX:C6C) is a Canadian and Australian copper miner, with its flagship Copper Mountain operation in British Columbia, Canada, and its Eva and Cameron copper projects in Queensland, Australia.

In the third quarter, Copper Mountain Mining reported total output of 22.4 million pounds of copper at its Copper Mountain mine, representing a 12.1 percent quarter-over-quarter decline in production. The company still reported positive cash flow, with strong construction and exploration gains made at its Eva and Cameron projects.

This is an updated version of an article first published by the Investing News Network in 2018.

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

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