Ground Breakers: ‘War drones’ and ‘smart mines’ on Australia’s richest woman’s wishlist
- Gina Rinehart tops mining’s post-election wish list with call for missile defense and smart mines
- Iron ore miners lift materials sector on first post-election trading day
- Perenti narrows forecast as it flags employee deaths in Botswana
Australia’s richest Gina Rinehart has already won the crown for the chilliest response to our change of government, calling on Albania’s new Labor government to launch ‘war drones’, ‘smart mines’ and a system missile defense to defend the nation. iron ore resources.
In a post-election interview with the AFR, Rinehart – who likely has the cash to pay for the drones and a decently sized militia herself – went wild.
She wants naval maintenance moved north of Fremantle to Cape Preston, near the site of the Sino Iron mine of Citic, the iron ore tycoon’s nemesis.
We’ll have to pull out our maps later to check where this sits in its long-talked-about “special economic zone” for northern Australia.
But this is the part that will definitely attract the most attention:
“Given the lack of defenses in North West Australia, despite being the lifeblood of the Australian economy, I also hope that smart mines will be implemented urgently in abundance in at least our northern and northwestern (and northeastern) oceans,” the iron ore magnate reportedly said, adding that Australia needed to turn into a “thorny porcupine” as soon as possible.
How are we going to do this? Less government bureaucracy, says Rinehart, not at all predictable.
Other wealthy miners weighed in. Andrew Forrest, who wants to make Fortescue Metals Group (ASX:FMG) the world’s largest exporter of green hydrogen, praised Albanese.
He said he hoped to see “a more forward-looking Australian policy on climate change”.
The miners had a generally positive reaction this morning in the aftermath of Albanese’s dismissal of coalition Prime Minister Scott Morrison.
All of the iron ore majors were higher, with Forrest’s FMG up nearly 3% to lead the materials index to a morning gain of 1.31%.
This is partly due to rising metal prices in China, where the biggest lending rate cut since 2019 was put in place late last week to fuel hopes for real estate investments. and infrastructure once the Covid lockdowns are over.
UK share price today:
Perenti narrows forecast as it reports deaths in Botswana mines
Mining services provider Perenti Global (ASX:PRN) avoided a downgrade to its FY22 guidance despite complaints about labor and supply constraints and the recent deaths of two employees in its Zone 5 copper mine contract in Botswana.
The former Ausdrill, which mourned the death of its founder and WA mining veteran Ron Sayers this month, said it expects to generate $2.4 billion in revenue for fiscal year 22 and EBIT (A) between $170 million and $175 million.
This compares to previously announced guidance of $2.2-2.4 billion in revenue and $165-185 million in EBIT(A), originally provided on the basis that the impacts of Covid-19 did not materialize. not aggravated.
The company says it has delayed releasing its long-term strategy, originally scheduled for May following the incident in Botswana.
But Perenti said it had no impact on the 2022 forecast.
The owner of the 60,000 tpy African copper mine, Khoemacau, said the two members of the blasting team had traveled underground to carry out tasks in the Tshukudu section of the operation 140m below the surface.
Perenti said an investigation into the tragic deaths is ongoing.
“The deaths of our two colleagues are devastating and our thoughts and prayers are with their families, friends and co-workers,” said Perenti MD and CEO Mark Norwell.
“We are working closely with our client and the authorities to fully investigate this incident and address the findings in Zone 5 and, if appropriate, across our business.”
Perenti share price today: