May 17, 2020

[VIDEO] Minerals Council of Australia launches ‘coal is amazing’ campaign

Mineral Council of Australia
2 min
[VIDEO] Minerals Council of Australia launches ‘coal is amazing’ campaign
TheMinerals Council of Australia(MCA) has launched a new advertising campaign to showcase the indispensable role ofcoal miningin Australia.

The campaig...

The Minerals Council of Australia (MCA) has launched a new advertising campaign to showcase the indispensable role of coal mining in Australia.

The campaign, Little Black Rock, hails the numerous benefits of the coal mining industry, such as its contribution to employment ($6 billion in wages each year), national income (worth $40 billion to Australia in exports annually) and its role in providing cheap electricity (71 percent of electricity in Australia comes from coal).

According to MCA’s coal director Greg Evans, the campaign is built on facts and meant to keep people informed.

"Coal is an important Australian industry. It is our second largest export, a major employer in NSW, Queensland and Victoria and provides 71 per cent of the nation's electricity," said Evans.

 Related content: Mental health: MCA develops blueprint to address issues in Australian mining sector

"The industry considers it critical that the community is kept informed about its role, its prospects for the future and the significant advancements it is making in reducing emissions."

The timing of the campaign comes less than three months before world leaders converge in Paris for the United Nations Framework Convention on Climate Change.

“This has been in train for some time,” said a spokesman for the Minerals Council. “It’s fair to say there are a few misconceptions out there the industry wants to tackle. This is aimed at the general public but we obviously want the politicians to take notice of it.”

The Minerals Council’s ad campaign also comes at a time when many coal miners, including Rio Tinto and Anglo American, continue to battle approvals for new mines or extensions to existi9ng mines in the country.

The MCA campaign goes on to say that newer coal technologies have already cut emissions by 40 percent and “research continues into making coal cleaner and more sustainable for generations to come.”

The advertisement campaign is currently running in television, newspaper and radio.

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May 11, 2021

Gerald Group resolves iron ore dispute with Sierra Leone

Gerald Group
SL Mining
Iron ore
Marampa iron ore mine
2 min
Gerald Group, the US commodity broker, set to restart iron ore shipments from Marampa mine with subsidiary SL Mining

Gerald Group, the US commodity trader, will pay Sierra Leone $20mn and cede a 10% stake in an iron ore project as part of the resolution to a nearly two-year dispute that led to the shutdown of production, the two sides revealed.

SL Mining

Gerald's wholly-owned subsidiary SL Mining filed for arbitration in August 2019 over a royalty payment dispute and suspended the Marampa mine the following month. Sierra Leone's government responded by cancelling its mining licence. 

As part of the agreement signed on Friday, Sierra Leone will take a non-dilutable 10% stake in a new company that will replace SL Mining and resume operations at Marampa by June 1, Gerald said in a statement.

Iron Ore

Gerald will make two $10mn payments this year and will have the immediate right to ship its current stockpile of about 707,000 tonnes of iron ore, it said.

Both sides will withdraw their legal claims before the International Chamber of Commerce (ICC) and International Centre for Settlement of Investment Disputes (ICSID), the statement added.

Gerald’s chairman and CEO Craig Dean commented: "I am delighted that we have been able to resolve our differences and have a fresh start and new beginning with the government of Sierra Leone."

SL Mining

Sierra Leone

Sierra Leone's Mines Minister Timothy Kabba told a news conference on Tuesday that the agreement was a milestone for the country.

"Whatever the pain we may have borne or dreaded throughout these two years ... this outcome justifies our action," he said.

Gerald estimates that Marampa holds about 1 billion tonnes of iron ore with a potential lifespan of 30 years.

Gerald Group

Back in 2019, Dean spoke with Mining about the development of Marampa and commented: "SL Mining offers a substantial opportunity for Gerald Group as our Marampa mine in Sierra Leone is set to deliver six million tonnes of high-grade iron ore during its operational life. If you analyse the iron ore market it has transformed, even from a couple of years ago when prices were very low. Now prices have stabilised we’re in a favourable position with our first shipments leaving for China.

"Our goal is to make ‘Marampa Blue’ an internationally recognised premium grade iron ore brand. We intend to expand the delivery of high-grade 65% iron ore concentrate to markets in Europe and Africa.”

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