The Melbourne Mining Club

Vale Sir Roderick Carnegie AC.

A strong fourth quarter with some real operational highlights. We continued to execute against our strategy, progressing growth options in the commodities the world needs to meet the demands of the energy transition and population growth. Thank-you to our teams and partners. We will have more to say about the 2024 financial year and our plans for the future in our full year results next month.

Congratulations to Felicity Davy, Human Resources Officer at our Fosterville mine in Australia on being named this year’s Gender Diversity Champion at the 2024 Minerals Council of Australia Victorian Women in Resources Awards. This award recognises her ongoing work to strengthen diversity and inclusion at Fosterville mine, and in the resources industry more broadly. Read Felicity’s inspiring story here: https://bit.ly/3VXIgan

It was busy in London last week for Australian Mining Week. Our packed agenda started on Monday with an industry lunch at the incredible Bloomberg offices (thanks Kwasi Ampofo and team) and finished on Thursday evening at the historic Institute of Company Directors for the first AusIMM Thought Leadership Series in London, to which ERM was cosponsor.   His Excellency The Honourable Stephen Smith, Australian High Commissioner to the UK, opened proceedings for the night. He spoke to the longstanding trade relationship between Australia and the UK and the part that mining and metals plays in that relationship.   I would like to take the opportunity to thank the High Commissioner, as well as Stephen Durkin, Melissa Holdsworth, Louise Pearce and Anna Bobcow - Pica for their contribution to such a successful evening.    I would also like to acknowledge and thank our exceptional panelists Sally Cox, Rosalind Kainyah MBE, Josephine Bush, CFA ESG, FRGS, James McClements and Matthew Chamberlain, who navigated the theme of ‘The Capital Challenge to Fund Mining’s Critical Role’ rather brilliantly. The roles of OEMs, governments and financial institutions were central to the discussion; as was the willingness, ability and practicality of establishing a premium linked to ESG performance of mining, refining and processing critical minerals.   What do you think - what can mining companies do to make themselves more attractive to financiers?   #mining #metals #transitionfinance #criticalminerals   Geraint Bowden Neil Donaldson Henry Hall Simon Tillotson Victoria Clarke Irem Yerdelen Tim Strawn Anastasia (Ana) Nishnianidze Stacy Hope, Ph.D

Our Q2 results are in — we're growing with discipline in the materials the world needs for the energy transition, with improvements at our bauxite and copper operations. “Our operational performance continues to progress," Rio Tinto Chief Executive Jakob Stausholm said. "While there are still significant improvements ahead, we're beginning to see a step-change in production from our Queensland bauxite business following the roll-out of the Safe Production System. "Construction of the Simandou high grade iron ore project in Guinea is advancing at pace, the ramp up of the Oyu Tolgoi underground is on track and we are set to achieve first production from the Rincon starter plant by the end of the year." #FindingBetterWays #results

I am saddened to learn of the passing of former Conzinc Riotinto of Australia Limited (CRA) Chief Executive, Chairman and Managing Director, Sir Roderick Carnegie AC. Sir Rod was an icon of the mining industry, both in Australia and globally, and was a remarkable leader and a true pioneer. I was honoured to meet Sir Rod on various occasions and learn from his wisdom. His leadership from 40 years ago is still felt in Rio Tinto today. He understood our people are our greatest asset and fostered a culture where people were encouraged and able to give their best and contribute to the company’s success. In recent years, Sir Rod gave generously of his time to the current Rio Tinto leadership, imparting his knowledge and wise counsel to help the company forge a stronger path. My thoughts are with his family at this difficult time. Vale, Sir Rod. 📸 Sir Roderick (Rod) Carnegie (left) and Sir Mark Turner (right) at a media conference in 1976.

I was deeply saddened by the news that Sir Rod Carnegie, the former Chief Executive, Chairman and Managing Director of our predecessor company, Conzinc Riotinto of Australia Limited (CRA), passed away in Melbourne over the weekend, aged 91. On behalf of everyone at Rio Tinto, I extend my deepest sympathies to the Carnegie family at this sad time. Sir Rod had a profound impact on Rio Tinto. Under his leadership in the 70s and 80s, we discovered the Argyle Diamond Mine in Western Australia, rapidly doubling world diamond production and supplying virtually the entire world’s source of rare pink, red and violet diamonds. We also forged strong relationships with China and continued to develop our flagship Iron Ore business in the Pilbara, including becoming the first Australian company to export iron ore to China. We are forever grateful for the enormous contribution he made to Rio and for so generously giving his time to our current generation of leaders, even as his own health was declining. We all knew that when we were with Sir Rod, we were in the presence of an Australian business icon, a man who shaped our company and our industry for the better. He will never be forgotten. Vale, Sir Rod. 

Join our award-winning Vacation Program, ranked #13 on the 2024 Australian Association of Graduate Employers (AAGE) – Intern Large Program List. We encourage you to apply if you are in your second year or beyond studying Engineering (Mining, Electrical, Mechanical, Geotechnical, Process Controls), Data Science, Metallurgy, Mine Geology, Environment, Mine Surveying, Social Responsibility or Health & Safety. To learn more and apply, visit https://lnkd.in/gdp33tDp #NewmontAustralia #joinusatNewmont #topinternprograms #MiningCareers

With new critical minerals projects taking nearly 20 years to be developed - how will the resources sector deliver the minerals supply required by 2030 to meet the International Energy Agency's net zero emissions by 2050 scenario? The capital challenge to fund mining's critical roles was the core theme of our discussion at the Thought Leadership event in London last Thursday. Funding models, market mechanisms, ESG and industry perception were all challenges identified and debated during this engaging discussion. Thank you to our panellists Matthew Chamberlain from the London Metals Limited , Josephine Bush, CFA ESG, FRGS from Vulcan Energy, James McClements from Resource Capital Funds and Rosalind Kainyah MBE from WE Soda and to the Honourable Stephen Smith, Australian High Commissioner to the United Kingdom for his kind welcome. Thank you to our The Melbourne Mining Club joint venture partners the AusIMM and Minerals Council of Australia for the opportunity to participate in this event.

It was great to meet up with our AusIMM CEO Stephen Durkin and COO Melissa Holdsworth on Monday night in London. They are in the UK this week for a number of events and meetings and see the UK as an important region and focus for the AusIMM and members residing here. It gave them a chance to meet the new faces on the UK committee and to exchange on a number of topics. It was great to meet up with the AusIMM members who were able to come for drinks and nibbles and to meet with all of us at The Golden Fleece. A special mention to the group from SRK in Cardiff who made the effort to come to London and to all others who live outside the city too. In order to build our AusIMM membership base in the UK, as a starting point please check your membership location status and update this to the UK.