Ann: Annual Report to shareholders, page-225

Today's AFR article has delivered good news to all and to the company, a real trial to BB whether he can make it or not this time...


Washington| Australia is well positioned to benefit from an update to a list of “critical minerals” in the US, so-called because they are central to vital industries such as energy, defence and electronics.As foreshadowed recently in The Australian Financial Review, the US government’s scientific agency has added nickel – used to strengthen alloys found in batteries, electronics, military hardware and a range of energy technologies – to the list. Australia produces 24 per cent of the world’s supply and is perfectly positioned to benefit.BHP’s new nickel plant in Kwinana, WA. BHP is Australia’s largest nickel producer. Confirmation of nickel’s addition to the list underscores analysis from the International Monetary Fund last month showing Australia was in pole position to benefit from a sixfold increase in demand for critical minerals worth $US12.9 trillion ($17.6 trillion) over the next two decades, driven by the race to hit net zero emissions.The new critical minerals list released by the US Geological Survey (USGS) on Monday (Tuesday AEDT) will be open to public comment for one month.Tanya Trujillo, assistant secretary of the Interior for Water and Science, said the list was crucial to helping stakeholders prepare for future imbalances between supply and demand.“The USGS’s critical minerals list provides vital information for industry, policymakers, economists and scientists on the most important minerals when it comes to US supply chains,” Ms Trujillo said.“The statistics and information are crucial to understanding America’s vulnerability to disruptions in the supply of critical minerals, including data on the worldwide supply and demand for minerals and materials essential to the US economy and national security.”Jessica Farrell, Asset President Nickel West at BHP’s new nickel plant in Kwinana. AFRWhile BHP is Australia’s largest nickel producer, it does not have any production in the US. In the US, Australia’s Rio Tinto and its Talon Metals (TLO) joint-venture partner are among those that stand to gain through their Tamarack Nickel-Copper-Cobalt Project – one of very few nickel mines in the country.The appeal of metals such as nickel, copper, cobalt, platinum and palladium in a decarbonising world was starkly underlined on Tuesday when a discovery near Perth rated by a veteran analyst as one of the best the world has seen sent shares in explorer Chalice Mining soaring nearly 30 per cent, tipping its value above $3 billion.The USGS said the US remained heavily dependent on imports of certain mineral commodities that were “vital to the nation’s economic and national security interests.”“This dependency has the potential to create strategic vulnerabilities arising from adverse foreign actions, pandemics, natural disasters, or other events that can disrupt the supply of critical minerals,” it said.The list is also crucial for miners seeking a share of the $US3 billion ($4.1 billion) in government subsidies that could soon be on offer to companies developing parts of the critical mineral supply chain.The 2021 list added nickel and zinc and removed helium, potash, rhenium and strontium.The Energy Act of 2020 explicitly excluded fuel minerals from the definition of critical minerals, meaning uranium was not evaluated for inclusion on the 2021 draft list.