Sydney, Australia (ABN Newswire) – New Energy Minerals Limited (ASX:NXE) (FRA:GGY) (OTCMKTS:MTTGF) is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020.
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Triton Minerals Signs MOU with Suzhou for Ancuabe Services
November 07, 2018
Resource Investing News
Triton Minerals has signed a non-binding MOU for debt financing and consulting services related to its Ancuabe graphite project.
Triton Minerals (ASX:TON) has signed a non-binding memorandum of understanding (MOU) with Suzhou Sinoma Design and Research Institute of Non-Metallic Minerals Industry, a subsidiary of China’s largest construction group.
Suzhou, a Chinese graphite-testing laboratory and consulting service, has “expressed interest” through the MOU in helping with the debt financing component of developing Triton’s Ancuabe graphite project.
Additionally, the company would provide technical consulting services for graphite-processing technology, production line equipment, construction, commissioning and graphite product control.
The two companies have also agreed to work alongside MCC International, which Triton signed an engineering, procurement and construction contract with in late September.
The collaboration will consist of finalizing project financing, leveraging Suzhou’s experience to optimize the project flowsheet and providing technical input during the project’s construction.
“Suzhou have shown strong interest in Ancuabe, and have requested involvement in many aspects of the project. The agreement of the MoU provides further validation of its status as a world class graphite project,” Triton Managing Director Peter Canterbury said in a statement.
He continued, “Suzhou has over 60 years’ experience in graphite processing and is one of the leading authorities on graphite globally. This partnership is expected to greatly benefit Triton in the construction and commissioning Ancuabe. Triton looks forward to finalising terms of debt with Suzhou, MCC and its banking group in the near term.”
Located 60 kilometers west of Pemba in Northern Mozambique, the Ancuabe project just received the development green light from Triton’s board in early June. The mine is estimated to see a production rate of 60,000 tonnes of graphite concentrate annually over a 27-year mine life.
As of the June release, construction of the project was docketed for sometime in the second half of 2018, with first production targeted for 2019’s second half.
Triton’s share price went up almost 7 percent to AU$0.046 on the ASX at the end of trading on Wednesday (November 7).
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
Featured
Australia isn't a producer of graphite (yet), but three states in the country are home to millions of tonnes of reserves and resources.
Graphite has been growing in popularity in recent years as its applications as a battery mineral are realised, and as the popularity of electric vehicles grows around the world.
A form of carbon, graphite is a good conductor and is invaluable in electronics. It comes in three different forms, each with their own valuable applications in modern technology, making it a sought-after commodity without which supply lines for many industries around the world would grind to a halt.
Graphite isn't produced in Australia (yet), but the country sits on 1.05 million tonnes of ore reserves, and 7.14 million tonnes of economic demonstrated resources (EDR), as per 2017 government data — and those numbers are way up from the previously disclosed data from Canberra in 2013.
For reference, global production of graphite is relatively small — 1.1 million tonnes were produced around the world in 2020, with the lion's share (650,000 tonnes) coming from China.
But back to Australia, whose graphite reserves and EDR are shared between three states: Queensland, with 1.32 million tonnes EDR, South Australia, where 4.72 million tonnes EDR can be found, and Western Australia, which is home to 1.1 million tonnes EDR.
Exploration is on the up in Australia and around the world for graphite, with demand for the mineral set to grow thanks almost solely to the proliferation of electric vehicles.
The Australian government is cognizant of this development, reporting that it is confident interest in the mineral will not only remain high, but will increase as time goes on. In fact, graphite is classified by the nation's government as a critical mineral, and the country has dedicated significant resources to researching market gaps and opportunities available.
Graphite in Australia: Potential producers
The government has identified five projects between Western Australia and South Australia that have the potential to bring Australia to the table when it comes to production.
However, as of the most recent government report, none of them are producing. One asset is being explored, another is in the prefeasibility stage and the remaining three are in the feasibility stage.
The most developed projects appear to be Mineral Commodities' (ASX:MRC) Munglinup project in Western Australia, where a definitive feasibility study was completed in early 2020, with a final investment decision targeted in 2023, and Renascor Resources' (ASX:RNU) Siviour project on the Eyre Peninsula in South Australia, which has a final investment decision slated for 2022.
Renascor has hopes for production to begin by the end of 2023, and has signed memorandums of understanding for 100 percent offtake agreements. The company boasts that Siviour, which had a definitive feasibility study completed recently — is the world's second largest proven reserve of graphite, and the largest graphite reserve outside of Africa.
For its part, the Munglinup project in Western Australia is Mineral Commodities' second major graphite project, behind its flagship Skaland project in Norway. Munglinup is in the far south of Western Australia, near the port city of Esperance — giving it fantastic transport options.
Both Munglinup and Siviour, if they proceed in coming years, would produce 132,000 tonnes of graphite between them in the early stages — putting Australia well and truly on the leaderboard globally when it comes to graphite production.
The remaining projects — though not as developed or as far along with investment planning — would add another 178,000 tonnes of graphite production if they are constructed as envisaged.
As boasted by the Australian government, "the only direction for Australia's graphite production is up" — though that is indeed a reflection of the fact that current graphite production is exactly zero.
More broadly, Australia is positioning itself to take advantage of wider industry gains across the electric vehicle market, and to present itself as a reliable trading partner. Graphite, like rare earths, is classed a critical mineral by both Australia and the US — and its use extends beyond technology and into national security as well given its applications as a heat-resistant material.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
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Sydney, Australia – New Energy Minerals Limited is pleased to provide an update to the market in relation to the Company’s activities for the period ending 31 December 2020. Corporate Update New Project Acquisition The Company has previously announced with the closing of the Balama Sale Transaction on 17 July 2020 that it has no further operations in Mozambique and that the closing also represented a disposal of its …
New Project Acquisition
The Company has previously announced with the closing of the Balama Sale Transaction on 17 July 2020 that it has no further operations in Mozambique and that the closing also represented a disposal of its main undertaking as previously approved by shareholders at a general shareholder meeting on 13 May 2020.
Subsequently, the Company agreed to acquire a new mineral project and on 13 October 2020 requested a trading halt pursuant to ASX Listing Rule 17.1 pending announcement of a project acquisition.
On 13 November 2020, the ASX suspended the Company from official quotation pending the release of an announcement regarding an acquisition and that the Company’s securities will remain suspended until it has recomplied with Chapters 1 and 2 of the Listing Rules, including the issue of a prospectus.
Arena Investors Dispute
Confidential settlement negotiations with Arena have continued during the quarter and the Company expects to be able to make a further announcement in this regard during the first quarter of 2021.
Appointment of experienced technical directors
On 18 November 2020, the Company announced the appointment of Dr Bernard Olivier and Dr Evan Kirby to the Board of the Company in conjunction with the resignation of Mr Paul Ching and Mr Jackie Lee. Both were nominated to the Board by the Company’s largest shareholder UBezTT International Investment Holdings (BVI) Ltd.
To view the report, please visit:
https://abnnewswire.net/lnk/YR138716
About New Energy Minerals Ltd:
New Energy Minerals (ASX:NXE) is an ASX listed junior mining company, that recently announced the divestment of the Company’s Caula vanadium – graphite project and the Montepuez Ruby project in Mozambique.
Source:
New Energy Minerals Ltd
Contact:
Christiaan Jordaan
Managing Director
info@newenergyminerals.com.au
+ 61-8-9217-2400
News Provided by ABN Newswire via QuoteMedia
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The mining and resources sector now sets its sights on Australia’s largest mining investment forum, Mines and Money @ IMARC, co-located with IMARC from January 31, 2022, to February 2, 2022, at the Melbourne Showgrounds.
It was gold price, lithium demand and China’s appetite for copper that dominated much of the discussion at Mines and Money Online Connect @ IMARC this week at the virtual event running from the 19th to the 21st October.
Mines and Money Online Connect saw 90 mining companies, 600+ investors and more than 2,000 participants log-on to hear mining executives and analysts discuss the next big thing for savvy investors in 2022.
Time to Strike Gold?
‘Frustrating’ sums up the 2021 gold price according to Commodity Discovery Fund Founder and Chief Investment Officer, Willem Middelkoop. Middelkoop spruiked gold’s glittering upside during the Mines and Money Gold Outlook Panel Discussion.
The panellists suggested that with the gold price soaring to record highs, a gold correction was inevitable. Historically, gold price is linked to market volatility and the much of new money printed in the United States.
In 2022, panellists expect plenty of market volatility and money printing, with an overinflated US dollar set to weaken in value, and subsequently drive up the price of gold. Through the Commodity Discovery Find, Middelkoop has studied the gold price in relation to increased money supply over the past decade.
“If you look at the current graph, the gold price needs to move back toward over US$2,000, and it should move toward US$8,000-$10,000 dollars to be in line with money growth. If you look at that statistic, there is so much upside,” said Middelkoop.
“A doubling of the gold price within 12 months is easily possible,” said Middelkoop.
The Need for Speed
The US has the need for speed with car manufacturing adopting electric vehicles (EVs) at an accelerating rate. The rising demand for EVs, which is expected to surge to 10% in global sales by 2025 according to Bloomberg New Energy Finance, will require startling quantities of lithium.
The price of lithium hydroxide continued to soar in 2021 and shows no sign of slowing down in 2022. Prices topped US$23,375 per tonne at the time of writing, which is up from a US$6,300 average per tonne in the September quarter 2020.
During the Mines and Money Battery Metals Session, Piedmont Lithium President and Chief Executive Officer, Keith Phillips, said the EVs market is fuelling the demand for lithium hydroxide. “I’ve always had the view that the market would speak, and the time would come, and it will,” said Phillips.
Phillips said Ford’s Blue Oval City required 125,000 tonnes per year of lithium hydroxide to service its three battery plants, which surpasses the production capacities of all lithium projects currently planned in the United States.
“Tesla has been a leader here, but LG and General Motors are making big commitments. “Everyone is talking about bringing more capacity to the US, which we desperately need, and even if we all succeed, we are still going to be short, and require lots of material from outside the US,” said Philips.
China’s Quiet Copper Rush
Copper was the metal of the hour during the China Commodities Supply and Demand Outlook 2022 Panel at Mines and Money. Companies from Australia’s biggest trading partner are digging for strategic commodities to enhance diversification and survival in an uncertain marketplace.
Gold Mountains General Manager, Maggie Huang said sourcing and developing copper mines was critical to not only Gold Mountains, but to the Chinese economy. “We see copper as a highly strategic metal for China, we are the largest consumer in the world. We consume half of all output of copper but produce only 20 to 25% of what we actually use,” said Huang.
Huang pointed out that whilst Australia and Canada represented stable and mature investment destinations in the past, “an investment is an investment,” and Chinese companies are now seeking new opportunities in other mining destinations.
As Africa and South America mature as mining destinations, Huang said emerging opportunities in Africa and South America could be more profitable and signify a more attractive investment than Australia or Canada.
As Mines and Money Online Connect @ IMARC concludes with positive outlooks on gold, lithium and copper, the mining and resources sector now sets its sights on Australia’s largest mining investment forum Mines and Money @ IMARC co-located with the International Mining and Resources Conference (IMARC) from the 31st January to 2nd February 2022 at the Melbourne Showgrounds.
-ENDS-
About
The International Mining and Resources Conference (IMARC) is where global mining leaders connect with technology, finance, and the future. Now in its 8th year, it is Australia’s largest mining event, bringing together over 8,000 decision makers, mining leaders, policy makers, investors, commodity buyers, technical experts, innovators, and educators from over 130 countries for three days of learning, deal-making and unparalleled networking. IMARC is developed in collaboration with its founding partners the Victorian State Government of Australia, Austmine, the Australasian Institute of Mining and Metallurgy (AusIMM) and Mines and Money.
For more information, please visit https://imarcglobal.com/
Media Contacts
Samantha Morgan
Head of Marketing
IMARC
samantha.morgan@imarcmelbourne.com
Isaac Stewart
PR Consultant
Cannings Purple
istewart@canningspurple.com.au
+61 423 306 794
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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."
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
The state of Victoria completed an inquiry on cannabis earlier this year. Will it actually change anything for the drug?
In August, the government of Victoria, Australia, released the results of its inquiry into the use of cannabis, taking into account 1,475 written submissions, dozens of expert witnesses and two minority reports.
A few months on, Australia-focused cannabis investors are wondering whether the document's findings will have an impact on cannabis use in the state, or even in the country as a whole.
The short answer? Probably not. But there's more to the story than that.
Why did Victoria conduct a cannabis inquiry?
Back in May 2019, Victoria's Legislative Council Legal and Social Issues Committee agreed to complete an inquiry on cannabis in the state. Although it was initially due for completion in March 2020, the deadline was extended twice, first to March 2021 and then again to August 2021.
Chaired by Reason Party Member of Parliament Fiona Patten, whose party supports legalising cannabis, the committee broadly looked at two streams of cannabis policy reform. One, the legalisation of cannabis for adult personal use, and two, a legalised and regulated cannabis market.
The report puts forth 17 recommendations and 21 findings, but Patten said after its release that the Labor-heavy committee banded together to water down certain recommendations prior to the drafting of the report.
For example, according to reports from the Age, the first recommendation of legalising cannabis for adult personal use in Victoria became "Recommendation 1: That the Victorian Government investigates the impacts of legalising cannabis for adult personal use in Victoria."
Evidence from the inquiry suggests that legalising cannabis would keep young and vulnerable people out of the criminal justice system, with state parliament estimates suggesting Victoria would save AU$725 million over 10 years in police and justice costs.
Key highlights from Victoria's cannabis inquiry
Recommendations from the report broadly fall several categories: investigating a legalised and regulated market; health and safety; and education for minors.
Here's a wrap up of the main items the Victorian government was told to look at:
- Investigate the impact of legalising cannabis for adult personal use in Victoria.
- Consider referring an inquiry to Victorian Law Reform Commission to investigate state and Commonwealth laws inhibiting legislation and regulation of the cannabis market.
- Provide ongoing funding to alcohol and drug sector organisations for drug diversion programs, and further funding to areas in regional and rural Victoria.
- Implement a road safety campaign about the dangers of driving under the influence of cannabis.
- Look at alternative testing methods for "drug driving," as current methods mean THC can be detected in a person's system long after being "affected by the drug," especially in the case of medicinal cannabis patients.
- Advocate to the National Cabinet to remove unnecessary barriers for accessing medicinal cannabis.
- Seek expert help on school drug education, avoid stigmatising users and promote help-seeking behaviour.
Minority reports included in Victoria's inquiry
Liberal Democrat David Limbrick, who participated in the inquiry, was "extremely disappointed" with the last-minute changes mentioned above and submitted a minority report in favour of legalisation.
It broadly supports the public policy Liberal Democrats have towards cannabis which is: "The Liberal Democrats support the legalisation of use, cultivation, processing, possession, transport and sale of cannabis, with protection of minors and penalties for driving while impaired."
A second minority report is also included — it comes from the Liberals and Nationals, both of which are firmly against legalising cannabis in order to protect public health and children. Signed by three members, it states that legalising cannabis only provides ready access and no deterrent to prevent cannabis use. They further wrote:
"The Liberals and Nationals support drug education programs warning of the harms of illicit substances, we support diversion programs that help get people off drugs, and we support other support services for those addicted to drugs. However, we do not support legalising cannabis."
Victoria Police Assistant Commissioner Glenn Weir told the inquiry in June that the use, cultivation and trafficking of marijuana causes "significant harm," and said he is firmly opposed to legalisation.
Will the inquiry impact cannabis legalisation in Australia?
Any hopes of legalisation were quickly dashed after the report's release by Victorian Premier Dan Andrews, whose focus is on job creation and economic recovery from the coronavirus pandemic.
Speaking to reporters after it came out, he said he has "no intention" of legalising cannabis.
"If you want to know why, then have a look at the sections in the mental health royal commission that talk about dual diagnosis, drug-induced psychosis," he told reporters outside parliament.
"Others have a different view, they're entitled to have a different view, but as the leader of the government I've just made the government's position very clear."
The lack of support by major state parties for the Victorian inquiry may speak to a wider delay nationally for supporting decriminalising and legalising cannabis. Combined with the narrow defeat of the cannabis legalisation referendum in New Zealand, it does not look like legalisation is likely anytime soon.
Don't forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Ronelle Richards, hold no direct investment interest in any company mentioned in this article.
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