•   
  •   

Australia Climate, inflation hang over mining forum

14:22  01 august  2022
14:22  01 august  2022 Source:   aap.com.au

Why are prices rising and what is the inflation rate in the US?

  Why are prices rising and what is the inflation rate in the US? As US interest rates go up again to tackle soaring costs, we explain why everything is so expensive.The increase in the cost of living is putting a squeeze on people's finances, as incomes fail to keep up.

Developers of the elements needed for electric cars and wind turbines are already making their mark at Australia's biggest mining industry event.

Economist Dambisa Moyo told Diggers and Dealers the shift to carbon neutrality will not be sudden. © PR HANDOUT IMAGE PHOTO Economist Dambisa Moyo told Diggers and Dealers the shift to carbon neutrality will not be sudden.

Known for its gold mining larrikins, tended by scantily clad barmaids called "Skimpies" at Kalgoorlie bars, the decades-old annual Diggers and Dealers Mining Forum has kicked off with more than 2600 delegates descending on the town in Western Australia.

ASX-listed Core Lithium is one of several new market darlings fronting the forum, with deals in place at leading automakers including Tesla for critical minerals that are still in the ground.

Centrelink, Australia: JobSeeker recipients to get an extra $38 a year

  Centrelink, Australia: JobSeeker recipients to get an extra $38 a year JobSeeker benefits are going up by another $25.10 a fortnight in September on top of the $13.20 increase in March to compensate for inflation surging at the fastest pace in two decades.Centrelink benefits like JobSeeker are indexed on March 20 and September 20 each year to keep pace with inflation.

Core Lithium executive Simon Iacopetta believes the pessimistic broker forecasts for lithium prices that smashed stock prices earlier this year are overdone.

He revealed new drilling results showing "world-class high-grade lithium" at the remote Finniss Lithium Project near Darwin - Australia's latest lithium mine - driving shares up 2.6 per cent on Monday.

Australian Strategic Materials is set to become a provider to the world's growing electric vehicle and wind turbine operations from the company's Dubbo mine in NSW, according to key investor Ian Gandel.

But investment strategist Dambisa Moyo told the audience of miners, brokers and investors to follow the money, not the response to the climate and energy crisis.

Climate, inflation hang over mining forum

  Climate, inflation hang over mining forum Renowned for gold mining larrikins, tended by 'Skimpies' at Kalgoorlie's bars, lithium firms are making their mark this year at Australia's top industry event.Known for its gold mining larrikins, tended by scantily clad barmaids called “Skimpies” at Kalgoorlie bars, the decades-old annual Diggers and Dealers Mining Forum has kicked off with more than 2600 delegates descending on the town in Western Australia.

"Watch the private investors," the United States-based keynote speaker said.

Warren Buffett has been a big buyer of energy companies in recent months, against the trend of getting carbon-laden investments off the books, she said.


Video: Businesses call on Albanese Government to deliver short-term economic fix (9News.com.au)

"He's being greedy while the rest of us are being fearful," said Dr Moyo, who is also an author and economist.

Amid stronger national emissions reduction targets and broader environmental, social and governance (ESG) concerns, she said there would be a "transition" to carbon-neutral industries rather than a sudden change.

"We have a science problem that's not just going to be turned on and off by public policymakers," Dr Moyo said.

She said the "E" in ESG had been short-handed to just mean climate, but the social and cultural aspects must also be recognised.

Be confident inflation will come down: RBA

  Be confident inflation will come down: RBA Reserve Bank of Australia Governor Philip Lowe says the nation could see a lower peak in interest rates if the community has confidence inflation will fall.Financial markets are already pointing to an average inflation rate over the next ten years of "two point something", Reserve Bank of Australia Governor Philip Lowe said on Wednesday.

Delivering the traditional Welcome to Country to industry delegates coming to grips with a sometimes shameful legacy, Linden Brownley said it was an "opportune time to look deep within ourselves".

Digby Gilmour, executive director of broking firm Canaccord Genuity, said many delegates are focused on the rapid emergence of inflationary pressures on wages, operating costs and development, and wonder when labour and energy costs will peak.

Sticking with tradition, gold miner Newcrest Mining was the first of almost 70 firms who will take to the stage during the three-day event.

Newcrest executive Fraser MacCorquodale said he wants more development partners.

"Exploration is a team sport, it's not just something that one company can do on its own," he said.

Forum chair Jim Walker opened the conference with a tribute to Ausdrill founder Ron Sayers, a "son of Kalgoorlie" who died in March aged 70.

The industry leader and thoroughbred horse breeder left school at 14 for an apprenticeship in the Kalgoorlie "super pit", once Australia's largest open-cut gold mine, before building his billion-dollar company in the 1990s.

Mr Walker said the industry icon was also respected for his Ausdrill Way social benefit fund for workers who fell on hard times.

The Climate Bill Would Change the Course of the 2020s .
The best evidence yet that Joe Manchin’s plan, if passed, will majorly reduce carbon emissions The Inflation Reduction Act, the surprise deal that Senator Joe Manchin and Senate Majority Leader Chuck Schumer struck last week, would significantly reduce greenhouse-gas pollution from the American economy. If passed, the bill would cut annual emissions by as much as 44 percent by the end of this decade, according to a new set of analyses from three independent research firms.

usr: 0
This is interesting!