How Has COVID-19 Impacted Australian Miners?

Much the same as everywhere else on Earth, Australia has not been immune to the effects of the COVID-19 pandemic, which has ravaged people, politics and markets.

As a resources-heavy nation, with some 11 percent of its economy dedicated to mining, and over 60 percent of its exports coming from resources, the initial slowdown in Australia's largest trading partner — China — brought about severe jitters in the Australian economy at the beginning of 2020.

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Fortescue Invests US$450 Million in Pilbara Generation Project

Fortescue Metals (ASX:FMG,OTCQX:FSUGY) has announced that it will invest US$450 million into the Pilbara Generation project, the next stage of its Pilbara energy connect program.

As quoted in the press release:

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Australian Resources Industry Digs Deep for Bushfire Recovery

The resources industry in Australia is digging deep to support charities and organizations committed to helping bushfire-ravaged communities recover from what’s been a disastrous few months for the nation.

The Minerals Council of Australia (MCA) has given a shout out to its members that have opened their wallets for the bushfire recovery, with BHP (ASX:BHP,NYSE:BHP,LSE:BLT) donating AU$2 million to the Australian Red Cross to support emergency relief efforts.

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Reward Minerals and Fortescue Execute Joint Venture Deal

Sulfate of potash (SOP) company Reward Minerals (ASX:RWD) announced the execution of a farm-in and joint venture agreement with Fortescue Metals Group (ASX:FMG,OTCQX:FSUMF) for the McKay Range.

The agreement is for tenements held by Holocene, a subsidiary of Reward. They are located north of Lake Disappointment in Western Australia.

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