Latest news with #MadeleineKing
Business Wire
9 hours ago
- Business
- Business Wire
Rio Tinto and Baowu open Western Range iron ore mine in the Pilbara with Yinhawangka Traditional Owners
PERTH, Australia--(BUSINESS WIRE)--Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier Roger Cook and Federal Resources Minister Madeleine King joining Yinhawangka Traditional Owners and senior representatives from Rio Tinto and joint venture partner China Baowu Group (Baowu) to mark the milestone. Western Range has the capacity to produce up to 25 million tonnes of iron ore per year and could sustain the existing Paraburdoo mining hub for up to 20 years. The $2 billion 1 project, a joint venture between Rio Tinto (54 per cent) and Baowu (46 per cent), was completed on time and on budget. It involved building a primary crusher and 18-kilometre conveyor system linked to the existing Paraburdoo processing plant. The new mine provides stability for Paraburdoo's more than 880 residential and FIFO employees. It also supports the ongoing viability of Paraburdoo town and strengthens the Western Australian and national economies through royalties and taxes. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) and Yinhawangka Traditional Owners joined Premier Cook, Minister King, Baowu Group Chairman Hu Wangming, Baowu Resources Chairman Shi Bing, Rio Tinto Chief Executive Jakob Stausholm, Rio Tinto Iron Ore Chief Executive Simon Trott and other government and joint venture representatives on site for the opening. Western Australian Premier Roger Cook said: 'The opening of Western Range is a significant achievement, and its importance to Western Australia's economy cannot be overstated. 'My government will continue to back in our resources industry, which is creating quality jobs for Western Australians while helping us maintain the standard of life we all enjoy.' Federal Resources Minister Madeleine King said: 'The opening of Western Range is fantastic news for the Pilbara, for Western Australians, for Traditional Owners and for the nation. 'The Pilbara is the engine room of the nation's economy. Projects like Western Range will keep that engine running for future generations of Australians.' Western Range is Rio Tinto's first project to feature a co-designed Social, Cultural and Heritage Management Plan (SCHMP) with the Yinhawangka Traditional Owners. In keeping with the SCHMP, announced in 2022 with the Yinhawangka Aboriginal Corporation, Western Range has been designed to protect significant cultural and heritage values in the area. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) said: 'For Yinhawangka people, Country is everything - it holds our spirit, our Law, and our deep responsibility to protect what was passed down to us. 'The opening of the Western Range mine represents a shift in how our heritage is being recognised and respected. We acknowledge the work Rio Tinto has done to change how they engage with us, and the steps they've taken to build a stronger, more honest partnership. This is a meaningful beginning - and we stand ready to walk forward together.' Rio Tinto and Baowu's partnership in the Pilbara began with the 2002 Bao-HI Joint Venture to develop the Eastern Range deposits in the Hamersley Ranges. Chairman of China Baowu Group, Hu Wangming said: "The success of the Western Range project is not only a milestone in China-Australia resource co-operation, but also a vivid reflection of joint efforts and resilience from all parties involved. "The Western Range project is not only a strategic cornerstone in the global resource layout of China Baowu and Rio Tinto, but also a model of China-Australia economic and trade cooperation. Our joint efforts in green, low-carbon development and collaborative innovation have set new industry benchmarks and contributed valuable insights and strength to the sustainable development of global resources. "We are committed to working hand in hand with the Western Australian Government, Indigenous communities, and partners from all sectors to build an inclusive and sustainable cooperation ecosystem. We will also continue to fulfill our corporate responsibilities and drive industrial upgrading through technological innovation, injecting new momentum into regional prosperity and the stability of global supply chains." Rio Tinto Chief Executive Jakob Stausholm said: 'Opening Western Range is an important step in Rio Tinto's extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972. 'I'm particularly proud of the work we've done with the Yinhawangka People to develop Western Range and we'll continue to work closely together. 'Partnering with Baowu ensures our biggest customer directly benefits with a consistent, dedicated supply of Rio Tinto's world leading Pilbara Blend iron ore.' First ore was processed through the Western Range system in late March this year. Additional Information Western Range is one of a tranche of replacement projects, with total annual capacity of ~130Mtpa 2, that underpin Rio Tinto's ongoing commitment to the Pilbara. In addition to the 6 March 2025 announcement of a $1.8 billion investment to develop Brockman Syncline 1, both the Hope Downs 1 and West Angelas sustaining projects are progressing through approvals processes. During the next three years (2025-2027) Rio Tinto expects to invest more than $13 billion on new mines, plant and equipment. This builds on about $8.5 billion of investment in the Pilbara during the past three years (2022-2024). Rio Tinto continues to work on the pre-feasibility study for Rhodes Ridge, one of the world's largest and highest quality undeveloped iron ore deposits, which is targeting an initial capacity of up to 40Mtpa and first ore by 2030. Footnotes 1 All currency figures are in US dollars, unless otherwise specified, and on a 100 per cent basis. 2 Subject to timing of full capacity. The replacement projects include Western Range, West Angelas, Hope Downs 1, Greater Nammuldi and Brockman 4.
Yahoo
9 hours ago
- Business
- Yahoo
Rio Tinto and Baowu open Western Range iron ore mine in the Pilbara with Yinhawangka Traditional Owners
PERTH, Australia, June 06, 2025--(BUSINESS WIRE)--Rio Tinto has officially opened its newest iron ore mine, Western Range, with Western Australian Premier Roger Cook and Federal Resources Minister Madeleine King joining Yinhawangka Traditional Owners and senior representatives from Rio Tinto and joint venture partner China Baowu Group (Baowu) to mark the milestone. Western Range has the capacity to produce up to 25 million tonnes of iron ore per year and could sustain the existing Paraburdoo mining hub for up to 20 years. The $2 billion1 project, a joint venture between Rio Tinto (54 per cent) and Baowu (46 per cent), was completed on time and on budget. It involved building a primary crusher and 18-kilometre conveyor system linked to the existing Paraburdoo processing plant. The new mine provides stability for Paraburdoo's more than 880 residential and FIFO employees. It also supports the ongoing viability of Paraburdoo town and strengthens the Western Australian and national economies through royalties and taxes. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) and Yinhawangka Traditional Owners joined Premier Cook, Minister King, Baowu Group Chairman Hu Wangming, Baowu Resources Chairman Shi Bing, Rio Tinto Chief Executive Jakob Stausholm, Rio Tinto Iron Ore Chief Executive Simon Trott and other government and joint venture representatives on site for the opening. Western Australian Premier Roger Cook said: "The opening of Western Range is a significant achievement, and its importance to Western Australia's economy cannot be overstated. "My government will continue to back in our resources industry, which is creating quality jobs for Western Australians while helping us maintain the standard of life we all enjoy." Federal Resources Minister Madeleine King said: "The opening of Western Range is fantastic news for the Pilbara, for Western Australians, for Traditional Owners and for the nation. "The Pilbara is the engine room of the nation's economy. Projects like Western Range will keep that engine running for future generations of Australians." Western Range is Rio Tinto's first project to feature a co-designed Social, Cultural and Heritage Management Plan (SCHMP) with the Yinhawangka Traditional Owners. In keeping with the SCHMP, announced in 2022 with the Yinhawangka Aboriginal Corporation, Western Range has been designed to protect significant cultural and heritage values in the area. Yinhawangka Aboriginal Corporation Board Chairwoman Robyn Hayden (née Tommy) said: "For Yinhawangka people, Country is everything - it holds our spirit, our Law, and our deep responsibility to protect what was passed down to us. "The opening of the Western Range mine represents a shift in how our heritage is being recognised and respected. We acknowledge the work Rio Tinto has done to change how they engage with us, and the steps they've taken to build a stronger, more honest partnership. This is a meaningful beginning - and we stand ready to walk forward together." Rio Tinto and Baowu's partnership in the Pilbara began with the 2002 Bao-HI Joint Venture to develop the Eastern Range deposits in the Hamersley Ranges. Chairman of China Baowu Group, Hu Wangming said: "The success of the Western Range project is not only a milestone in China-Australia resource co-operation, but also a vivid reflection of joint efforts and resilience from all parties involved. "The Western Range project is not only a strategic cornerstone in the global resource layout of China Baowu and Rio Tinto, but also a model of China-Australia economic and trade cooperation. Our joint efforts in green, low-carbon development and collaborative innovation have set new industry benchmarks and contributed valuable insights and strength to the sustainable development of global resources. "We are committed to working hand in hand with the Western Australian Government, Indigenous communities, and partners from all sectors to build an inclusive and sustainable cooperation ecosystem. We will also continue to fulfill our corporate responsibilities and drive industrial upgrading through technological innovation, injecting new momentum into regional prosperity and the stability of global supply chains." Rio Tinto Chief Executive Jakob Stausholm said: "Opening Western Range is an important step in Rio Tinto's extension plans in the Pilbara and ensures the longevity of one of our oldest mining hubs, Paraburdoo, which began operating in 1972. "I'm particularly proud of the work we've done with the Yinhawangka People to develop Western Range and we'll continue to work closely together. "Partnering with Baowu ensures our biggest customer directly benefits with a consistent, dedicated supply of Rio Tinto's world leading Pilbara Blend iron ore." First ore was processed through the Western Range system in late March this year. Additional Information Western Range is one of a tranche of replacement projects, with total annual capacity of ~130Mtpa2, that underpin Rio Tinto's ongoing commitment to the Pilbara. In addition to the 6 March 2025 announcement of a $1.8 billion investment to develop Brockman Syncline 1, both the Hope Downs 1 and West Angelas sustaining projects are progressing through approvals processes. During the next three years (2025-2027) Rio Tinto expects to invest more than $13 billion on new mines, plant and equipment. This builds on about $8.5 billion of investment in the Pilbara during the past three years (2022-2024). Rio Tinto continues to work on the pre-feasibility study for Rhodes Ridge, one of the world's largest and highest quality undeveloped iron ore deposits, which is targeting an initial capacity of up to 40Mtpa and first ore by 2030. Footnotes 1 All currency figures are in US dollars, unless otherwise specified, and on a 100 per cent basis. 2 Subject to timing of full capacity. The replacement projects include Western Range, West Angelas, Hope Downs 1, Greater Nammuldi and Brockman 4. View source version on Contacts Please direct all enquiries to Media Relations, United KingdomMatthew KlarM +44 7796 630 637David OuthwaiteM +44 7787 597 493 Media Relations, AustraliaMatt ChambersM +61 433 525 739Michelle LeeM +61 458 609 322Rachel PupazzoniM +61 438 875 469 Media Relations, CanadaSimon LetendreM +1 514 796 4973Malika CherryM +1 418 592 7293Vanessa DamhaM +1 514 715 2152 Media Relations, USJesse RiseboroughM +1 202 394 9480 Investor Relations, United KingdomRachel ArellanoM: +44 7584 609 644David OvingtonM +44 7920 010 978Laura BrooksM +44 7826 942 797Weiwei HuM +44 7825 907 230 Investor Relations, AustraliaTom GallopM +61 439 353 948Phoebe LeeM +61 413 557 780 Rio Tinto plc6 St James's SquareLondon SW1Y 4ADUnited KingdomT +44 20 7781 2000 Registered in EnglandNo. 719885 Rio Tinto LimitedLevel 43, 120 Collins StreetMelbourne 3000AustraliaT +61 3 9283 3333Registered in AustraliaABN 96 004 458 404 Category: PILBARA Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Age
30-05-2025
- Business
- The Age
Australia's renewable energy shift to be powered by gas
Natural gas will play a bigger role in Australia's shift to cleaner energy as Labor advances plans for new gas-import terminals and industry braces for new rules to force gas exporters to reserve more supplies of the fossil fuel for domestic use. Two controversial decisions this week enraged environmental campaigners who fear increasing gas supplies will make it harder to tackle global warming, but underscored the belief within state and federal governments that more gas is needed to power homes and support renewables when the wind is not blowing and the sun is not shining. Following a four-year delay, Victoria on Thursday finally gave the provisional green light for fuel supplier Viva Energy to build a floating gas-import terminal at the site of its Geelong oil refinery, which aims to bring in shipments of liquified natural gas from Queensland, Western Australia or overseas for use in the local network. The ruling came a day after the Albanese government signed off on a four-decade extension of the North West Shelf gas project on Western Australia's Burrup Peninsula. Federal Resources Minister Madeleine King, meanwhile, is reviewing controls on Queensland's LNG industry to ensure they boost gas supplies for the eastern seaboard. Loading The federal government is looking for ways to head off the worsening threat of gas shortfalls emerging in Victoria and NSW later this decade, as ageing gas fields in the Bass Strait that have long supplied the local market rapidly deplete, with few projects to replace them. Gas industry insiders believe the government could pass reforms to tighten controls on Queensland's three LNG joint ventures through parliament by the end of the year, where it only needs support of either the Greens or the opposition, both of which have previously endorsed domestic gas reservation. A spokesperson for the minister told this masthead that the government would guarantee more gas supply for the eastern seaboard. 'The government will progress the planned review of gas market frameworks and the role of market bodies to ensure more gas is made available for Australians,' they said.
Sydney Morning Herald
30-05-2025
- Business
- Sydney Morning Herald
Australia's renewable energy shift to be powered by gas
Natural gas will play a bigger role in Australia's shift to cleaner energy as Labor advances plans for new gas-import terminals and industry braces for new rules to force gas exporters to reserve more supplies of the fossil fuel for domestic use. Two controversial decisions this week enraged environmental campaigners who fear increasing gas supplies will make it harder to tackle global warming, but underscored the belief within state and federal governments that more gas is needed to power homes and support renewables when the wind is not blowing and the sun is not shining. Following a four-year delay, Victoria on Thursday finally gave the provisional green light for fuel supplier Viva Energy to build a floating gas-import terminal at the site of its Geelong oil refinery, which aims to bring in shipments of liquified natural gas from Queensland, Western Australia or overseas for use in the local network. The ruling came a day after the Albanese government signed off on a four-decade extension of the North West Shelf gas project on Western Australia's Burrup Peninsula. Federal Resources Minister Madeleine King, meanwhile, is reviewing controls on Queensland's LNG industry to ensure they boost gas supplies for the eastern seaboard. Loading The federal government is looking for ways to head off the worsening threat of gas shortfalls emerging in Victoria and NSW later this decade, as ageing gas fields in the Bass Strait that have long supplied the local market rapidly deplete, with few projects to replace them. Gas industry insiders believe the government could pass reforms to tighten controls on Queensland's three LNG joint ventures through parliament by the end of the year, where it only needs support of either the Greens or the opposition, both of which have previously endorsed domestic gas reservation. A spokesperson for the minister told this masthead that the government would guarantee more gas supply for the eastern seaboard. 'The government will progress the planned review of gas market frameworks and the role of market bodies to ensure more gas is made available for Australians,' they said.
ABC News
30-05-2025
- Business
- ABC News
Gas reserve scheme for south-east on the table as government searches for answer to 2029 shortfall warning
The prospect of a gas reservation scheme could be revived by Labor, with ministers signalling the sector's supply of gas to Australia is under review and noting that states with schemes already in place have been able to operate successfully. Newly appointed Industry Minister Tim Ayres would not rule out possible laws that would force gas producers to reserve some of their supply for the domestic market. "We've got our focus on what happens over the next three to five years, and [Resources Minister] Madeleine King has made it pretty clear, we are focused on making sure the mechanisms that are there, and the packages that are there, are delivering the purpose they need to deliver," he told Sky News. "What we're not going to do is do what the Coalition did during the election campaign, which was policy on the run. "The Coalition ran around pretending to be the best friend the gas industry had … then at the last second cobbled together a pretend reservation strategy that would have delivered a sixth of what the government had already delivered." Federal and state governments are doubling down on gas, with a warning from the Australian Energy Market Operator (AEMO) that the south-eastern states face shortfalls from 2029. This week, Victoria green-lit a controversial gas import terminal in Geelong, and the federal government signed off on a multi-decade extension to Western Australia's North West Shelf project. In a major speech to the industry this week, the resources minister put the sector on notice that its social licence depended on pumping more affordable gas into the domestic market. While Western Australia and Queensland have rules requiring multinational gas companies to hold some of the gas they drill for the domestic market, there is no "gas reserve" for the south-eastern states. And, the east coast, which sits on a different energy grid to the west, has been warned of gas shortfalls as soon as 2029 due to the dwindling supply set aside for domestic use. While the idea of an East Coast Gas Reserve has been popular in Labor circles, it has traditionally been opposed by the Coalition. But Peter Dutton unusually took a promise to the federal election to establish a gas reserve on the east coast that would force gas producers to hold up to 100 petajoules for the domestic market, equivalent to about a fifth of demand. The Coalition claimed doing so could also lower household power prices by 7 per cent. That move has opened political ground for the government to consider a gas reserve for the east coast — something the industry understood was already being developed by Labor as a response to Mr Dutton's policy, but was ultimately not taken to the election. Under WA's gas reserve mechanism, long-term contracts are negotiated with developers at a project's inception to require a certain amount of that project's gas production to be kept for Australian use. In a statement, Ms King said the gas industry had been able to successfully operate in WA, as well as under a similar policy in Queensland. "Queensland and Western Australia are our two biggest gas exporters and they both have state-based gas reservation schemes," the resources minister said in a statement. "The government will progress the planned review of gas market frameworks and the role of market bodies to ensure more gas is made available for Australians." Gas producers have opposed the idea of a reserve that would apply to already-established projects, saying the business cases for those projects were developed with a set percentage to be exported. Gas has been centre-stage in the days since the election, with Environment Minister Murray Watt on Wednesday approving the extension of Australia's largest oil and gas project, North West Shelf, from 2030 to 2070. That decision has also brought Woodside a step closer to approval for its proposed expansion into the Browse Basin and a 900-kilometre pipeline that would be connected to the North West Shelf processing facility in Karratha. But it has prompted fury from climate groups that say it threatens Australia's aims to reach net zero emissions by 2050. Overnight, the Victorian government also confirmed environmental approval for a gas import terminal in Corio, setting up the state to bring in gas from interstate or overseas. If Viva Energy proceeds with the terminal it would be able to supply up to 160 petajoules of gas, about 88 per cent of the state's current consumption. The state government said that would help to ward off the AEMO's warnings of supply shortfalls from 2029. In an opinion piece in the Canberra Times, independent senator David Pocock wrote that there was not a shortage of gas — it just wasn't being sent to Australia. "Over the past decade, east coast gas production has doubled. Prices have tripled," he wrote. "Domestic demand is falling, yet households and manufacturers are paying through the nose because more than three-quarters of our gas is exported or used in export processing."
