Lynas Rare Earths first-quarter revenue falls nearly 6%
The largest producer of rare earths outside China reported sales revenue of A$120.5 million for the three months ended Sept. 30.
Newmont’s (NYSE: NEM, TSX: NGT, ASX: NEM) Cadia operation has achieved The Copper Mark and The Molybdenum Mark credentials for its responsible mining practices following an independent assessment. Newmont acquired Cadia through its A$26 billion purchase of Newcrest Mining in November of last year.
Cadia becomes Newmont’s first site globally to receive these awards after successfully meeting more than 30 criteria needed in critical areas including environment, community, human rights and governance, amongst others.
Cadia is currently host to Australia’s largest underground mine, and now becomes the third copper mine in the country to receive The Copper Mark. It is also the only operating molybdenum mine in Australia, thus becoming the first to achieve The Molybdenum Mark.
The Copper Mark represents the leading assurance framework to promote responsible, sustainable and ethical practices across the copper, molybdenum, nickel and zinc value chains.
“Meeting growing global demand for copper brings an obligation to sustainability and responsible mining which prioritizes environmental stewardship, social responsibility and economic development for the communities in which we operate,” commented Newmont’s chief safety and sustainability officer Suzy Retallack.
In achieving The Copper Mark, she said the company’s global customers can now choose to source copper concentrate from an independently evaluated mine that “meets the highest standards in environmental, social and governance practices, responding to the increasing demand for sustainable supply chains.”
With this, about 35% of Australia’s copper is produced at sites that have obtained The Copper Mark, noted Michèle Brülhart, The Copper Mark’s executive director.
The Cadia operation is located approximately 25 km south-southwest of Orange in New South Wales and 250 km west of Sydney. It comprises the Cadia East underground mine, one of the largest gold and copper deposits in the world, and the Ridgeway underground mine, which is currently in care and maintenance.
In 2020, Cadia entered into a 15-year renewable power purchase agreement (PPA) with Tilt Renewables Limited to buy 55% of the wind farm’s output. Now fully operational, Rye Park is supplying approximately half of Cadia’s power needs.
“Cadia’s commitment to the community supported an investment of almost A$6 million in the 18 months to December 2023 to support community projects, education and infrastructure,” Retallack said.
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