The Asia Miner

APR-JUN 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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the asia miner • volume 16 • issue 2 30 AROUND THE REGION Share of Annual Power Capacity Addions in Emerging Markets. Source: Bloomberg, New Energy Finance, Climatescope Potenঞal new mineral and groundwater resources in the Northern Territory and Queensland have been revealed by results of the world's largest airborne electromagneঞc survey. Australian Minister for Resources and Northern Australia, Ma Canavan, said the survey indicated potenঞal for new mineral deposits including gold, copper, nickel, lead, zinc and manganese, as well as criঞcal minerals such as cobalt, plaঞnum-group elements and rare-earth elements. "The survey, containing 60,000 line kilometres of data, provides new insights into mineral-rich areas in Northern Australia that have not been extensively explored previously," Minister Canavan said. Airborne electromagneঞc surveys – or AEM – use aircra[- mounted equipment to map the electrical conducঞvity below the Earth's surface to a depth of several hundred metres. This provides a detailed 3D picture – similar to a CT scan – that is used to map potenঞal resources beneath the Earth's surface in the prospecঞve area between Tennant Creek and Mt Isa. "When integrated with other datasets such as gravity, magneঞc and radiometric maps of Australia, the AEM can reveal potenঞal broad-scale groundwater resources to support communiঞes, industries and the environment," said Minister Canavan. "This is great news for Northern Australia, offering enormous potenঞal for the next generaঞon of resource discoveries." Minister Canavan said the data have received huge interest, with 13 exploraঞon companies already signed up to parঞcipate in infill flying during the next survey, which will be acquired across an equally large area of the west of the Northern Territory and into Western Australia. "The Coaliঞon Government is commied to building a strong, growing economy that creates jobs, especially in Northern Australia," Minister Canavan said. "That's why we are invesঞng heavily in word-class geoscience data acquisiঞon programs, which are central to de-risking exploraঞon and aracঞng more investment, an aim outlined in the recently released Australia's Naঞonal Resources Statement. "This statement is a new naঞonal policy framework vital for planning and stability in the resources industry. "The aim is to have the world's most advanced, innovaঞve and successful resources sector that delivers sustained prosperity and social development for all Australians." World's largest airborne electromagnec survey reveals new resources in Australia's north Australia's north abounding in mineral potential rapidly move away from coal-fired power while posiঞoning its power business for energy markets of the future. "The ঞme for adapঞon and corporate leadership is now." Facing a mature domesঞc market and with Japan's populaঞon in decline, overseas markets will become increasingly important drivers of growth for the sōgō shōsha. For Marubeni, given its higher focus on power generaঞon development relaঞve to the other trading houses, there will be increasing opportunity in renewable energy as the world moves away from fossil fuels and towards clean energy. Marubeni won't move alone, other sōgō shōsha houses will be reviewing similar opportuniঞes. In January 2019, it was announced that Sumitomo Corporaঞon had acquired Australia's fourth largest retailer of solar PV systems, Infinite Energy. Much of the opportunity will lie in the developing world which is where all of Marubeni's current overseas coal-fired power projects are located. However, the idea that developing naঞons will meet growing electricity demand with coal-fired power generaঞon is increasingly outdated. Developing naঞons are now leading the transiঞon to clean energy – in 2017 the large majority of zero-carbon power capacity was built in developing naঞons. Wind and solar accounted for just over half of all power capacity addiঞons in developing countries in 2017 as coal-fired power addiঞons dropped to less than half the 2015 level. The CEO of Marubeni's power generaঞon business has said that the rapid fall in the cost of renewable energy technology has taken the company by surprise, staঞng "no one thought the cost of renewable energy would drop this much."

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