According to The Australian Financial Review, the Rio Tinto executive charged with developing its lithium assets says critical minerals are becoming diamond-like in terms of the focus on provenance.
Rio Tinto minerals chief executive Sinead Kaufman said “One part of the portfolio for me in Rio Tinto is diamonds, and so we have done a lot of work over the years on the provenance and sustainability of diamonds and where they have come from.
Rio would move downstream in lithium because it was unrealistic to simply mine and sell the key battery ingredient as a bulk commodity.
“I feel like you have to go downstream to be able to understand fully the value of the product and also understand the needs of your customer. How far downstream will depend greatly on different jurisdictions and different countries,” she said.
According to The Australian Financial Review, CoreLogic national research director Tim Lawless tipped the housing market correction to bottom out in the first quarter of 2023 followed by a swift recovery after the rate of house price decline eased slightly in September, according to the firm’s monthly index.
However, this sooner-than-expected turnaround won’t be quick enough to stop the Melbourne housing market from reversing all the gains it made during the pandemic, Mr Lawless told.
According to The Asahi Shimbun, Tokyo will oblige homebuilders to outfit their newly built homes and buildings with solar panels starting in April 2025.
A legislative measure to introduce quotas for solar panel installations will be submitted to the metropolitan assembly in December this year, according to a Sept. 9 announcement by the Tokyo metropolitan government.
But it will not come with penalties to enforce the new requirements.
According to The Asahi Shimbun, vegetables and fruits often get damaged or misshapen due to intense heat and torrential rain in Japan. Though just as tasty as the regular produce, they are often excluded from supermarket shelves.
However, food delivery and online sales companies are now selling these products for direct shipment to people’s homes.
The companies’ offerings are proving popular as the imperfect produce are cheaper than more standard fare, leading to less food waste.
According to The Australian Financial Review, Queensland will end its reliance on coal-fired power generation by 2035 – up to a decade earlier than planned – as part of its new energy plan to have 80 per cent renewable energy by 2035.
But the resources sector has warned the Palaszczuk government to manage the transition carefully to avoid the blackouts that have plagued European countries who moved away from fossil fuels too quickly.
Pumped hydro and the creation of “super grids” to connect 22 gigawatts of new renewable projects form part of the $62 billion plan launched by Premier Annastacia Palaszczuk in Brisbane recently.
According to The Australian Financial Review, almost 2.2 million Australians are millionaires after soaring asset prices pushed another 390,000 adults onto the top rungs of the global wealth ladder, according to a report by Credit Suisse that says Australians are the richest people in the world.
Australia was the fourth-richest country in 2021 behind Switzerland, the US and Hong Kong. The average Australian adult was worth $US550,110 at the end of last year, after enjoying a $US66,350 annual increase in wealth.
According to The Australian Financial Review, new housing demand will pick up in the next 18 to 24 months as rising wages and falling prices combine to improve the affordability problem keeping buyers out of the market, says Stockland chief executive Tarun Gupta.
Mortgage payments equal to the “mid-40” per cent of disposable household income for Sydney – over the typical equilibrium level of 35 per cent – and at 33 to 35 per cent in Melbourne, in contrast to the “under 30″per cent figure that represented equilibrium, would come down, Mr Gupta said.
According to The Nikkei Asia, Japan will resume visa-free entry for individual travelers on 11 Oct, Prime Minister Fumio Kishida announced Thursday in New York, bringing its border rules close to pre-pandemic norms for the first time in about two and a half years.
Starting on 11 Oct, short-term visitors will no longer be required to apply for tourist visas. Before the pandemic, Japan allowed visa-free short-term travel from people from 68 countries and regions, such as Singapore, Malaysia, Thailand, Hong Kong and the U.S. And with no need to book tours through travel agencies, it will be easier to visit.
According to The Asahi Shimbun, average overall land prices in Japan rebounded from a three-year slump, while residential properties gained in value for the first time in 31 years, a land ministry report showed 20 Sept.
The overall average increased year on year by 0.3 percent as of July 1, while residential land prices edged up 0.1 percent, according to the report.
The rises reflect growing demand for homes and stores as economic activities pick up steam following the easing of restrictions related to the novel coronavirus pandemic.
According to The Australian Financial Review, giant Korean conglomerates Hanwha and SK Group have joined Korea Zinc in a proposed $20 billion-plus green hydrogen project in Queensland, paving the way for a flow of green energy exports between Australia and Korea by 2032 that would gradually replace trade currently dominated by coal and gas.
The Hanguk-Hoju consortium, meaning Korea-Australia, aims to establish a supply chain between the two countries using the partners’ expertise to set up a corridor for deliveries of green ammonia, used in power generation and industries such as fertiliser production.
Renewable energy generated from the operations of Korea Zinc’s Australian subsidiary Ark Energy in Queensland’s coal heartland in the Bowen Basin will be used to produce carbon-free hydrogen that will be converted to ammonia for shipping.
The venture aims to export more than 1 million tonnes of green ammonia a year to Korea by the 2032 target date. That will start to rebalance the $10 billion trade between Queensland and Korea, where coal and LNG are key exports, towards clean energy.
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