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As Rio Tinto strives for ‘impeccable ESG’, investors raise water issues

Apr 19, 2024

Rio Tinto faced demands from shareholders at its annual meeting on Thursday to come clean on environmental issues, including water and biodiversity, as the company said it was committed to achieving an “impeccable ESG” performance.


Mining, responsible for 4% to 7% of greenhouse-gas global emissions in 2020, is under the spotlight as a provider of critical raw materials needed for the energy transition, including electric vehicles and renewable energy infrastructure.


“We are finding an economic pathway to reach our targets on decarbonization, in partnership with governments, customers and communities,” CEO Jakob Stausholm said at the annual meeting in London.


Rio aims to reduce Scope 1 and 2 carbon emissions – direct emissions by the company and certain types of indirect emissions – by 15% by 2025 and 50% by the end of the decade.


In its climate report last February, Rio said it would invest $5-6 billion in decarbonization projects between 2022 and 2030, down from a previous forecast of $7.5 billion. It spent $425 million in 2023.


Chairman Dominic Barton told the meeting the company would maintain a focus on four objectives, including striving for “impeccable ESG credentials.”


The hunt for minerals, including copper, lithium, nickel, cobalt and iron ore for the clean energy transition, has boosted the number of mining projects globally.


This is driving deforestation of tropical rainforests, which are home to many species, including the great ape, a new study published this week by the German Centre for Integrative Biodiversity Research, the Martin Luther University Halle-Wittenberg and NGO Re:wild said.


The study estimates that more than one-third of the entire ape population in Africa – nearly 180,000 gorillas, bonobos and chimpanzees – are at risk.


The Anglo-Australian miner is developing part of the Simandou project in Guinea, one of the world’s largest untapped iron ore deposits, where more than 23,000 chimpanzees could be impacted by mining activities, the study said.


Shareholders asked Rio directors about Simandou at the meeting.


Barton told shareholders he and colleagues had met with four civil society organizations in Guinea in March. “They provided valuable feedback about our operations – what is working well, but also what we need to do better.”


Investors at the AGM also questioned Rio about its Madagascar mineral sands operation, QIT Madagascar Minerals, which released water from the mine site into the surrounding environment due to heavy rainfall in 2022. Dead fish were found after the water release.


The shareholders also asked about a letter sent to the company by UK law firm Leigh Day on Tuesday, where sixty-four individuals from the mine region alleged the waterways and lakes still contained high levels of uranium and lead.


Sinead Kaufman, chief executive of Rio’s minerals division, in response highlighted an independent report commissioned by the company to investigate the fish deaths.


“The report outcome was inconclusive and it said that we (it) cannot find any direct evidence on any heavy metals contamination that caused the fish deaths but also it cannot find any conclusion.”


Reuters in February reported that a group representing UK pension funds, Local Authority Pension Fund Forum had raised concerns about the company’s water management at its Oyu Tolgoi copper mine in Mongolia and in Madagascar.



Rio Tinto said at the time it recognized the importance of water to its host communities and that it was “committed to driving effective water stewardship and enhanced transparency for stakeholders.”




Source: https://www.mining.com/web/as-rio-tinto-strives-for-impeccable-esg-investors-raise-water-issues/

09 May, 2024
Revolver Resources has continued to make strong progress at its Dianne copper mine with ongoing support from the Queensland Government. Revolver is currently progressing detailed mine planning and scheduling activities, helped along by a maiden $1.3 million grant from the Queensland Critical Minerals and Battery Technology Fund. The mine is on track for targeted first copper cathode production during the second half of 2025. “Revolver is fortunate to be in a very unique position with a high-grade copper ore body at-surface at the Dianne mine,” Revolver managing director Pat Williams said . “We have no existing debt and we have a truly incredible pathway to generating production revenues, to fund the company’s growth and accelerate the scale of our exploration activities across our highly prospective tenure at the broader Dianne and Osprey projects.” Revolver is now undertaking Traditional Owner engagement and broader workforce participation planning, with project debt and equity funding solutions well advanced. “Our Dianne copper mine project, the site of one of the world’s historically high-grade copper mines, is now in the advanced stages of planning for operational recommencement,” Williams said. “While advancing the project towards targeted final investment decision later in 2024 and first production in 2025, we absolutely plan to continue focused copper (and gold) exploration activities in parallel.  “This includes targeted further drilling in the Larramore volcanics belt at Dianne and project Osprey during the remainder of 2024.” Source: https://www.australianmining.com.au/queensland-backs-dianne-copper/
29 Apr, 2024
Gold Road Resources has ended discussions with Orion Resource Partners, a global alternative investment firm, to acquire its 40 per cent stake in the Greenstone Gold Mines. The announcement comes a week after Gold Road responded to media speculation that it would acquire a substantial interest in the operation. Located in Ontario, Canada, the Greenstone Gold Mines are currently held in a joint partnership between Canadian-based Equinox Gold, who owns 60 per cent, and Orion Resource Partners, who holds the balance and is looking to divest its stake. “As previously stated, Gold Road continues to evaluate strategic opportunities as part of a considered and diligent growth strategy,” Gold Road said in an ASX statement on Tuesday. “The company will only pursue these opportunities on terms and at values which it believes are in the best interests of its shareholders.” Orion Resource Partners is reportedly seeking a valuation of more than $1 billion for its Greenstone stake. The Greenstone project has an expected mine life of 15 years, over which it has been tipped to produce over 400,000 ounces of gold per year. Production is anticipated to begin this year.  Despite ending its talks with Orion Resource Partners, Gold Road confirmed earlier this week that mining and processing operations at the Gruyere joint venture it shares with Gold Fields have resumed after a period of heavy rainfall. Source: https://www.australianmining.com.au/gold-road-exits-greenstone-talks/
29 Apr, 2024
Martin Engineering, a world leader in bulk handling solutions, is marking the 50th anniversary of its invention of the world’s first low-pressure air cannon. Air cannons have transformed material flows in bulk processing systems, eliminating problematic internal buildups and blockages. After five decades of continuous innovation, Martin Engineering remains at the forefront of air cannon advancements, enabling industrial plants to run more profitably, efficiently and safely than ever. The company launched the world’s first low-pressure pneumatic air cannon – its legendary Big Blaster – in 1974. It was devised and developed by Carl Matson, a member of Martin’s senior team and cousin of the firm’s founder Edwin F. Peterson. The patented technology was designed to dislodge stubborn material stuck to the inside walls of hoppers and silos by firing precisely timed bursts of compressed air to keep bulk material flowing and preventing the growth of serious build-ups and blockages. The air cannon was originally aimed at the same quarrying applications as the legendary Vibrolator, the Martin-patented industrial ball vibrator on which the company’s success had been built since its inception in 1944. By the 1980s, as Martin Engineering expanded its global presence, the Big Blaster was already being reimagined for use in high-temperature industrial applications to maintain the flow of sticky materials through the process and minimise unscheduled downtime. Martin air cannons soon proved to be a game-changer for sectors such as cement, for the first time signalling an end to workers having to access the interior of preheater vessels to manually break off hefty material build-ups using a high pressure water jet – one of the most unpleasant and hazardous jobs on a cement plant. By the 1990s, Martin Engineering had developed an extreme heat and velocity version of the Big Blaster, called the XHV, with an all-metal construction capable of withstanding the harshest of conditions. During the 2000s, Martin became the first to introduce a safer positive-pressure firing valve with its Tornado air cannon – technology that prevents unintentional firing if there’s a drop in system pressure, and also allows solenoid valves to be positioned up to 60m from the air cannon for easier access and maintenance. Designed with safety in mind, the positive firing valve also delivers a more powerful blast. Soon after that came the introduction of the Hurricane valve, located in the rear of the air cannon tank rather than at the tank and nozzle junction, greatly improving safety and ease of maintenance. The exterior-facing design eliminates the need for removal of the tank so maintenance is a simple one-worker operation requiring only minutes for replacement. In 2008, Martin Engineering opened its industry-leading Center for Innovation , which accelerated the company’s air cannon technology advancements including: SMART Series Nozzles with multiple nozzle tips, one of which features a retractable design that extends the 360° nozzle head into the material stream only when firing, protecting it from repeated abrasions and extreme temperatures. Its clever Y-shaped assembly means the nozzle can be installed, accessed and serviced without removing the air cannon or further disruption to the vessel structure and refractory. The Martin Thermo Safety Shield , which acts as a safety barrier to allow timely and safe maintenance of air cannon systems. It protects workers from exposure to severe temperatures so that maintenance can take place safely and production stays on schedule. Martin Engineering’s current ground-breaking air cannon designs are the result of research and development in the Center for Innovation, located at the company’s headquarters in Neponset, Illinois. The centre will open its doors to visitors in the Summer of 2024 as part of the 50th anniversary celebrations. “From the very beginning, our air cannons were specifically designed to produce a quiet but powerful, high-velocity discharge of plant-compressed air to dislodge buildups and enhance material flow,” Martin Engineering global air cannon product manager Brad Pronschinske said. “They were developed to be capable of handling the high temperatures, harsh gases and abrasive, corrosive materials associated with heavy industries, and yet have low maintenance requirements and low costs. Since the launch of the Big Blaster 50 years ago, we have continued to innovate, introducing smarter and ever more powerful air cannon systems that improve efficiency, productivity and safety. “We’re especially proud that Martin air cannons have become so important in reducing the health and safety risks associated with clearing blockages manually – such as working in confined spaces, working at height, falling materials, and working in hot and dusty environments. “Our team is always working on new developments and we’re looking forward to bringing the next generation of air cannon technologies to our customers all over the world.”  Source: https://www.australianmining.com.au/martin-engineering-celebrates-50-years-of-air-cannon-technology/
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