May 17, 2020

Stanmore Coal's dollar dazzler begins operations

Dollar Dazzler
Isaac plains
Stanmore Coal
Queensland mini
Dale Benton
2 min
Dollar dazzler begins operations
Isaac Plains, the Queensland mine bought by Stanmore Coal in 2015, has officially been opened today.

Following its purchase by Stanmore Coal for just o...

Isaac Plains, the Queensland mine bought by Stanmore Coal in 2015, has officially been opened today.

Following its purchase by Stanmore Coal for just one dollar,dubbed the “dollar dazzler”,  the coal mine will produce 1.1million tonnes per annum of coking coal for export to Asian steel mills.

Queensland Resources council chief executive Michael Roche believes the opening of the mine represents a bright spot in a dark time for the industry with low commodity prices.

“The official opening is big news for the Bowen Basin in what have been gloomier times for the once becoming sector,” he said.

The mine will generate up to $7million annually into state royalties, generated through the Asian steel mill exports. The Queensland government had received $2.1billion in royalties in the last financial year, something that Mr Roche says is a testament to the resources sector and its contribution to the economy.

“That $2.1billion was the equivalent of funding the salaries of 35,000 teachers, 30,000 nurses or about 32,000 police officers. Or in the case of Stanmore Coal, that $7million [injected into the economy] could annual fund about 100 nurses, 104 police or 118 teachers,” he said.

The government would have collected zero royalties from closed mines and from projects that are cancelled, but the ‘dollar dazzler’ will significantly contribute to the state via the royalties.

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Jul 20, 2021

British Lithium Pressured Due To Calls for Electric Cars

3 min
The ever-increasing need for electric vehicles is mounting pressure on British Lithium as the 2035 deadline inches closer

The British demand for lithium is set to reach 75,000 tonnes by 2035 as the government works towards their ban on the sale of high-polluting diesel and petrol vehicles within the UK. This comes as automakers worldwide continue to insist on the benefits electric vehicles will have on slowing the rate of climate change. 

It is estimated that the UK will require 50,000-60,000 MT of lithium carbonate a year by 2035 for battery production to satisfy government needs. This is assuming production remains at 1.2 million vehicles per year, and the amount of lithium required does not increase.

British Lithium, which hopes to begin constructing a quarry to produce 20,000 MT of lithium carbonate a year in a $400 million investment, are not without competitors, both within the UK and abroad. 

Competition For Lithium Rises In Europe 

After only five years after its initial launch, Cornish Lithium is setting its sights on becoming a UK powerhouse in mining lithium, aiming to begin commercial production in under four years. Jeremy Wrathall, a former investment banker and current managing director of Cornish Lithium, had the future in mind when founding the company. 

“In 2016, I started to think about the electric vehicle revolution and what that would mean for metal demand, and I started to think about lithium,” he said in an interview with AFP. “A friend of mine mentioned lithium being identified in Cornwall, and I just wondered if that was a sort of unrecognised thing in the UK.”

Lithium was first discovered in Cornwall around 1864 and has not been mined again since 1914 when it was produced as an ingredient in fireworks. Now, however, Cornish Lithium is reportedly in the testing stage to see if the metal can be produced commercially to meet the growing demand required for the electric car sector. 

Despite Cornwall’s close historic ties to mining lithium, Wrathall insists that the project is purely commercial. 

Cornish Mining Revival For Lithium Production

“It’s not a mission that drives me to the point of being emotional or romantic,” he says. “It’s vitally important that we do get this technology otherwise Europe has got no lithium supply.”

The European Commission has also stated their goal to end the sale of new petrol and diesel cars by 2035 to aid the environment. That being said, the majority of lithium extraction currently relies on power provided by environmentally damaging fossil fuels─a slight contradiction. 

Alex Keynes, from the Brussels-based lobby group Transport & Environment, is adamant that mining for lithium should be done sustainably. 

“Our view is that medium-to-long term, the majority of materials including lithium should come from efficient and clean recycling.

“Europe from a strategic point of view should be looking at securing its own supply of lithium.”

Despite growing competition from abroad, British Lithium Chairman, Roderick Smith, continues to place importance on the mining of lithium within the UK. 

“Imagine what the UK economy would look like if we lost our automotive industry,” Smith says. “The stakes are high for the UK.”

Smith expects the UK to compete with other European countries to secure a lithium battery plant in the near future.

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