Iron ore price weakens as Australia flags return to sub-$100 prices
Futures dropped for a fourth day in Singapore, to trade about 3% lower for the week.
Australia’s federal government announced the launching of a new A$29.5-million Cooperative Research Centre aimed at creating research opportunities to support regional communities facing mine closures.
The CRC-TiME brings together 50 mining companies
The CRC on Transformations in Mining Economies (CRC-TiME) will be led by the University of Western Australia and the University of Queensland, with support from the Commonwealth Scientific and Industrial Research Organisation CSIRO. Scientists across these institutions have expertise in areas such as mining technology, environment, systems integration, and data processing and management.
“CRC TiME has the potential to create hundreds of new opportunities and regional jobs through the implementation of restoration activities and increased supply of closure and post-closure products and services,” Guy Boggs, CEO of the new centre, said in a media statement.
In particular, CSIRO will assist the CRC in establishing nationally recognised demonstration sites where technology and solutions can be shown to bring positive benefits to the community and to mine closures.
“This effort will support regions to transition to a more prosperous and sustainable post-mining future, acknowledging the need for whole-of-community benefit, including indigenous futures, environmental restoration, and economic outcomes,” Jason Kirby, the senior scientist that leads CSIRO’s involvement in the CRC, said in the press brief.
