Adani Group's Carmichael Coal Project Gets Delayed
Australian Environment Minister Greg Hunt has placed a new delay on the $16.5 billion Carmichael coal and rail project in central Queensland amid renewed concerns about environmental oversight.
Despite giving the go-ahead in May, worries that a port expansion to accommodate the project could hurt the World Hertiage-listed Great Barrier Reef have caused Australia to extend the final deadline until August 1.
"The date for a decision has been extended to ensure the minister can thoroughly consider the large volume of material associated with this project referral," Hunt's spokesperson said.
The Abbot Point port, which Adani plans to use for the coal project, is facing severe challenges from green groups fighting to stop the expansion that will dredge up three million meters of sand to be dumped near the Great Barrier Reef.
The move to postpone a decision until August 1 comes as the UNESCO’s World Heritage Committee is due to consider a proposal to vote next year on putting the Great Barrier Reef on the “in danger” list.
"Approving (the project) now would have been tantamount to an act of provocation, with UNESCO currently mulling the status of Australia's greatest natural icon," Greenpeace program head Ben Pearson said in a statement.
The Adani Group has said the Carmichael mine would be one of the largest coal mines in Australia with the capability of producing 60 million tons per year.
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.